As I pointed out in the start of the article The Revolution of Bitcoin Banking, we’re still in the 11th century of online market with bitcoin. Today we’re slinging digital coins around on line with very real worth; which has no real difference from paying for any products or services with cash or gold. While this does not appear to be a problem right now, we will need to keep in mind we live in a modern society where such transactions that are essential hit their limits quickly. What we want are complicated types of contracts that could create insurance debt, and other sorts of contracts. To put it differently, we want not only and fund money that is real.
It will appear to be a payments system while I do not feel that bitcoin will ever vanish as a storage of worth. Though the ‘has been bitcoin storage or a payment of value method’ debate was going on from the start of bitcoin, it has recently picked up steam using all the debate that was blocksize. If bitcoin does raise the blocksize or maybe not, it may not matter very shortly, and That’s because of the following celebrity we are currently watching rising to choose the location of bitcoin not as a money system, but as a fund system: Ethereum
Ethereum was created by Vitalik Buterin in 2013. It wasn’t designed as an altcoin, but instead as a complete contracts platform to be able to work as a coating on top of bitcoin, or some other digital currency for that issue. To steal a comment I found on r/Ethereum, bitcoin is to gold since ethereum is to oil. Ethereum purpose is not to become a deflationary money like bitcoin, but a contract stage and the engine of digital finance.
This will finally answer the question; is bitcoin a storage of a payment method or worth? It’s much better as the former, although it appears as though it can work as the later. Whereas Ethereum was constructed specifically to generate contacts and has a higher inflation rate to account for Ethereum’s use. What bitcoin is to hard money, Ethereum would be to fund.
Ethereum allows the bitcoin lender I speak of in The Revolution of Bitcoin Banking. What this may do is produce a full banking and fund platform that is completed decentralized and based. This is the way the web has its money, but its banking system, economy, and the resources for natives to secede to new ones from our current savings.
Ethereum is your ubermensch of all bitcoin. It not only wants to be everything that bitcoin is, but it also goes past and over bitcoin to create something larger. Bitcoin has masqueraded as a payment method for long enough, and now it may come to do that which it was created for: to develop into the storage of value for the modern technological world, also to create the foundation value for the future digital savings that will come to govern the world.