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RE: Bitcoin vs Ethereum - does the 21M coin ceiling of BTC give it the ultimate advantage ?

in #bitcoin8 years ago

Bitcoins strength is in it network. The SHA-256 algorithm is also very well tested, and has been peer reviewed from everyone from the NSA to cryptographic doctoral scientists at many major universities. There is also a huge difference in control. The proof of work makes it incredibly hard to gain control over the network.

Additionally the developers do not have control over the system, the transaction block case is a boon to how incredibly hard it is to force a change. Ethereum is in two chains because IMO it was too easy for one person to decide on a change.

IMO it will be even worse when it goes POS, POS gives the developers involved way too much voting power in the direction it should go. It quickly becomes a dictatorship when the president is also his biggest voter. One of the greatest things Satoshi ever did was walk away from his project to let it grow. He knew that being the creator gave him too much power.