The debate between Bitcoin and Ethereum has a long history. The founders of both the company believe that there is no reason why Ethereum (ETH) and Bitcoin (BTC) cannot be at peace. However, things are always different with the Bitcoin and Ethereum community.
Ideological Differences Between ETH and BTC Main Reason of Conflicts
We have often seen several such Twitter wars and fierce debates between the BTC and ETH supporters where the main aim of both the sides is to prove their supremacy. The differences come from the fact that, BTC the first ever cryptocurrency follows old school ideologies of slow and conservative development. On the other hand, Ethereum the new age crypto platform has entirely opposite principles. Ethereum believes in moving fast and breaking things. Hence, the pure difference in the doctrines of the both the platforms often results in conflicts among its supporters.
Questions Raised On ETH’s Total Supply
Moreover, a new debate topic has surfaced in the market that Ethereum total supply is incalculable and cannot be verified. Consequently, it has sparked an opportunity for Bitcoin supporters to mock Ethereum’s management system. And according to them the ability to determine and verify the ETH supply should be one of their priorities. Moreover, the supporters are backing BTC’s monetary policy of having a fixed supply of 21 million tokens.
A recent podcast episode named ‘What Bitcoin Did‘ hosted by Peter McCormack aimed at explaining the philosophical difference between Bitcoin and Ethereum. The invited guests were Samson Mow, the Chief Strategy Officer at Blockstream and Vitalik Buterin, the CEO and one of the co-founders of Ethereum. Sam and Vitalik have had some serious exchange of debate in Twitter recently.
Vitalik Speaks About ETH Assets and Their Value
In the podcast, Vitalik spoke about ETH’s development goals which were quite similar to that of the ETH assets. He further explained that if ETH’s platform was unsecured then its assets today would not have been worth a dime, however that isn’t the case (currently, each ETH token is valued at $429.20). But when ETH loses its value, it tends to become more vulnerable to the malicious attacks. He also added that with increasing numbers of ETH users, the transaction fees will push the price of the ETH assets.
In another tweet by Samson, he said that all the Ethereum supporters raging towards him was simply a sign that the debate went well.
