Bitcoin’s Alternative ≠ Ethereum
I’m sick and tired of intelligent developers and economists comparing Ethereum to Bitcoin. If you read crypto headlines at all, especially in the last few months, you’ll have seen plenty of “Bitcoin vs Ethereum” or “ETH will suffer as BTC succeeds.” On behalf of the blockchain/crypto community, can I please ask you all to do one thing?
Stop it. Bitcoin’s Alternative ≠ Ethereum.
Comparing Bitcoin to Ethereum is so illogical that you can’t even say it’s like comparing apples 🍎 to oranges 🍊. Bitcoin is a currency. Ethereum is a platform. Claiming the two are similar enough to compare makes just as much sense as saying you’re going to build a website 🌏 on top of a physical $1 bill 💵.
Bitcoin is a currency 💰. Ethereum is a platform 🏗️.
Bitcoin, being a currency, should ideally be used in place of fiat currency 💰. This means you trade it for goods 🍔 and services 👩✈️, in the same way you would trade the green stuff in your wallet 👛.
Ethereum, in stark contrast, is a place for innovative developers 👷 to build 🏗️ programs, businesses, and services. The two are very different. There should be no “Ethereum vs Bitcoin” debate. You should invest in both.
I can understand if you have some problems investing in Bitcoin, though. Lots of people are wondering what the future looks like for the crypto-powerhouse. While I deeply appreciate the advancements it’s brought us, I have some concerns about Bitcoin myself:
- BTC is expensive 💵
- Mining ⛏️ BTC isn’t an option for most people
- Scalability ⬆️ is a problem
While Ethereum ≠ Bitcoin’s alternative, there is a solid cryptocurrency out there you can invest in instead: Decred.
Decred has already developed solutions to the three BTC problems I listed above, and discusses them in detail on their website. Here’s my take on Decred’s solutions to BTC’s problems:
- Decred currently costs $11/DCR and is available on 3 large exchanges.
- Decred is much easier to mine and be involved with
- Decred foresaw Bitcoin’s scalability issues and was built to avoid them
While people are squabbling over whether or not Bitcoin or Ethereum will be the dominant cryptocurrency in the future (and getting it all wrong), Decred is quietly scaling, refining, and spreading. If you’d like to know more about Decred, you can join the Slack channel here!
Don’t be one of the people who wakes up one day wishing they had invested in Decred/Bitcoin and Ethereum. Diversify! Stop all these dumb comparisons, and start investing. Cryptocurrencies and blockchain platforms need your support.
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