Ethereum vs Bitcoin: Comparison of the Biggest Cryptocurrencies

Ethereum vs Bitcoin: Comparison of the Biggest Cryptocurrencies

Cryptocurrency and the blockchain technology have been having a rather significant impact on modern society. Just a decade ago many people could not have even imagined that something like that will erase, develop and speed up technological progress. Today Ethereum and Bitcoin currency are two indisputable leaders among other digital currencies by market capitalization.

After the launch of these two virtual currencies, we started thinking about money differently. For example, if you told someone lets say 7 years ago that digital currencies could have potentially become an alternative means of payment, hardly anyone would have taken that seriously.

Ethereum vs Bitcoin: Performance

Bitcoin

This is the world`s largest cryptocurrency by market capitalization, that is indeed the most popular and demanded virtual asset on the market. It was developed by a person or a group of people who used a name Satoshi Nakamoto. The first digital cryptocurrency ever was launched back in January 2009.

Bitcoin actually stands for two things: a cryptocurrency and a peer-to-peer payment system, where BTC is used.

These innovative digital payment system with a cryptographically protected accounting unit that provides access to its services was a very first successful project of that kind. It had a really strong impact on the further development of the cryptocurrency industry and even beyond. Since the payment system is based on the blockchain technology, it helped popularize this technology that can be applied way widely that just in virtual currencies.

Bitcoin payment system is used to purchase goods and services, as well as to store a valuable monetary resource (in this case the cryptocurrency is actually similar to gold).

Purchasing BTC is not the only option to get the most popular digital coins. One can also engage in mining or use Bitcoin faucets. This digital currency has a limited number of coins to be issued. The smallest fraction of BTC is called satoshi and amounts to 0.00000001 BTC.

Ethereum

This is the second cryptocurrency by market capitalization, as well as a platform for the development of decentralized blockchain-based applications, created by Vitalik Buterin, Joseph Lubin, Gavin Wood, and others. The cryptocurrency was initially launched in July 2015. This is an inflationary coin, which means that the issue of ethereum coin is not limited to a certain number.

Just like Bitcoin, Ethereum basically stands for two things: a platform for the development of decentralized blockchain-based applications and smart contracts, and a well-known crypto coin ETH. The smallest fraction of ETH is called Wei and amounts to 0.0000000000000001 ETH.

Ethereum vs Bitcoin: Price

Different media and not only crypto-related ones, often talk alot about these two cryptocurrency market leaders. And first of all, everybody is paying attention to their rates, of course. But following media outlets is not the only option to find out the price of any Crypto coin. You can use online services like CoinMarketCap to check the current rate of any virtual currency to fiat money or to another coin. There are also different charts and diagrams that demonstrate rate volatility, so that users can check how the rates of cryptocurrencies were changing throughout their history.

Bitcoin price

BTC rate is not that sustainable. It changes all the time and it is rather difficult to make any predictions especially in the long term.  When this article is written, the rate of the first virtual currency is not really doing its best. Bitcoin price USD amounts to around $6.5 thousand per each coin.

BTC rate reached its all-time record in December 2017. Back then nearly all experts, analysts, BTC holders, investors and just those who were interested in digital currencies were really shocked, when the BTC price was approximately $20 thousand per a coin. Those who managed to sell their Bitcoin assets at such a high price really made a lot of money, while those who had been rather sceptical about BTC since the very beginning were kicking themselves. Today, there are about 17,3 million BTC in circulation and the total trading volume amounts to $3,538,226,691.

Bitcoin price today is almost four times lower than it used to be back in late 2017. However, still many crypto-enthusiasts, experts and opinion leaders are rather optimistic. They expect another rapid increase of the cryptocurrency market soon.

Ethereum price

ETH rate is not doing its best, just like Bitcoin. At least that is what is happening on the market today. Etherium price varies and fluctuates from time to time which makes holders of this coin nervous.

Ethereum price today is about $205 per each digital coin. World`s second cryptocurrency also has its own record – back in December 2017 the rate reached approximately $1,2 thousand per one ETH. This Ether rate increase was really difficult to predict. Today there are 102 million ETH in circulation and the daily trade volume is $1,224,203,671.

Today ETH price is around 6 times lower than it used to be in winter 2017. However, the platform itself is still very popular. Many experts believe that  this is a key to the future success of the platform and the cryptocurrency.

Ethereum vs Bitcoin: Chart

If you do not know but want to learn how to predict the fluctuations of BTC, ETH and other cryptocurrencies, then you need to understand the basics of deep diagram analysis. We will not go deep into details and focus on easier things.

Bitcoin price chart

It is known that any centralized authority has no direct impact on Bitcoin. All management operations, as well as the issue of new coins is carried out in the network itself. The first cryptocurrency is an open resource, because it is developed publicly, has no managers and is not directly controlled by anyone.

Bitcoin chart shows that the rate of Bitcoin has increased amazingly since the launch of the payment system and the cryptocurrency. This made traders and investors to consider it as an attractive investment opportunity and made it much more reasonable to purchase or exchange BTC for USD.

The highest Bitcoin value was registered in December 2017 when one digital coin was traded at the price of $20 thousand. That was something. However, today, in October 2018, BTC cannot overcome $7 thousand. Given that only less than a year has passed, many people worry that the rate is too unstable.

Ethereum price chart

Everyone can check the price fluctuations of all cryptocurrencies and digital tokens on their own. You should not have any special skills related to economics or analytics to do that. You can just use special services to monitor the situation on the cryptocurrency market. As usually, we recommend the most popular and convenient one – CoinMarketCap.

There is a detailed Ethereum chart there. It can help be aware and follow all cryptocurrency fluctuations. The charts will also help figure out when it is the best time to sell the digital currency or to buy it.

Almost a year ago the cryptocurrency broke its all time rate record. One ETH cost a bit less than $1,3 thousand. You can check it and monitor ETH chart. Today the rate is way less and amounts to just a bit more than $200 per each ETH.

Ethereum vs Bitcoin: Investment

Cryptocurrencies have a promising potential and that is why many investors consider these digital assets rather attractive especially in the long term. Today virtual cryptographically protected money is one of the most innovative approaches on the financial market and a number of people have already managed to make a fortune using them.

Bitcoin investment

Let’s talk a little bit about how appealing is the most popular cryptocurrency for investors. Well, BTC is being adopted to the world’s financial markets and the growing interest to this virtual asset may ensure that its rate increase.

Invest in Bitcoin or not is up to every user. However, we will take a closer look at how one can do it. BTC was launched back in 2009 and at that time (as well as quite a long time after that) only a very few people really considered Bitcoin a good investment. Today it is different – even those who are not really interested in cryptocurrencies would probably be glad to own several coins.

Ethereum investment

The second cryptocurrency by market capitalization was initially launched in 2015 and, unlike Bitcoin, became rather popular right away. Many people believe that ETH is a very promising alternative to BTC.

The main problem of many different cryptocurrencies is that they actually depend on Bitcoin. BTC indeed has the best liquidity and that means users often have to exchange their coins for BTC first and then exchange BTC for the US dollar or other fiat money. ETH is different, however.

Invest in Ethereum is considered a profitable investment by many experts, as they believe that this cryptocurrency will be demanded on the market. Since it has an unlimited emission, many users think that ETH mining will always be demanded.

So let’s get back to how one can invest in Bitcoin and Ethereum.

Option 1: Speculation in cryptocurrency rate as a way of investment

The main thing here is to sell the cryptocurrency at a price that is significantly higher than the cost of your purchase. For example, in 2013 you bought one BTC at a price of $ 200 and sold it in December 2017, when the price of a currency almost exceeded $ 20 thousand for one coin. If you do some small mathematical calculations, then you will be surprised by the profit that you could get on the difference of one coin. Imagine that in 2013 you bought not one, but 10 coins.

Option 2: Mining

To mine these digital currencies you will need a high-performance equipment that you can either purchase or rent. These investments will help you get the coins and then hold them or trade. Always keep up with the latest rate to make a good deal.

Ethereum vs Bitcoin: Wallet

It is better to have a wallet to store your money. Cryptocurrency is also a kind of money, and it also should be stored in a special wallet. There are many different ETH and BTC wallet option and developers have created many different services for users to keep their cryptocurrency assets. Some of them operate online, while others are stored locally.

When you choose Bitcoin and Ethereum wallet, the most important thing is actually its security. You’d better spend some time checking this. You can also look through different reviews and comments from other users.

You basically need a cryptocurrency wallet to make operations with your virtual currencies. There are five main Ethereum and Bitcoin wallet types:

  • web;
  • desktop;
  • mobile;
  • hardware;
  • paper.

Users of such platforms and operating systems as Android and iOS, Windows, MacOS, and Linux are lucky because every single type of the wallet usually operates on them. Online Bitcoin wallet, as well as online ETH wallet actually stores cryptocurrency in the cloud, while hardware wallets do that locally on your device. There are also paper wallets, where all the information related to the private key is written down on the paper.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

Three Hellish Days for Cryptocurrency: Reasons of The Fall of The Currency and What To Do Next?

The current condition of the cryptocurrency market raises a number of question from traders. For the third day, the industry is either trying to revive Bitcoin and other cryptocurrencies, or just watching the collapse of the course.

The question of what caused the collapse of the market and what should do those who still have cryptocurrency  – makes world crazy. That is why, The Coin Shark have found answers for all of these questions and analysed per minute history of the fall of currency of Bitcoin.

The Chronology of the fall from 14th to 16th November

Wednesday, November,14 , Bitcoin break another 2018 bottom.  According to data of CoinMarketCap, at 11:34 UTC the rate of the first cryptocurrency behaved stably, being at $6 365.

Nothing foretold troubles, but at 17:19 UTC began unexpected fall, which last till the 19:19 UTC, where the price of BTC remained in half-dead condition at $5 765. Therefore, the capitalisation of the marked fell to $102 billion.

After that, Bitcoin started to resist. In 20:04 UTC the currency show vital signs, increased to $5 858. But still, the end of 14th November was not a happy ending. In 22:48 UTC was settled a new record – $5 568.

Source: https://coinmarketcap.com/

If compare the data with an individual market, then on a Bitstamp the price of the BTC has already dropped to $5 534, and on the Kraken – $5 510. Last two weeks, Bitfinex exchange trade Bitcoin more than $6 000 per each unit.

It turned out, that the 14th of November was still far from the end of BTC fall. According to CoinMarketCap, Thursday, November, 15, at 17:04 UTC, Bitcoin shocked everybody with the course of $5 358. On Bitstamp the first cryptocurrency down to $5 446, and on the Bitfinex – $5 638. At this point, this is the lowest course from the end of October, 2017.

Source: https://coinmarketcap.com/

The condition of the cryptocurrency market for the last year is unstable. It is accompanied by unexpectable highs, as well as painful falls. But not only Bitcoin drop it’s price position on 14th of November. Together with it, into a deep red zone came the major part of other cryptocurrencies. In doing so, the total capitalisation fell by $190 billion.

Source: https://coinmarketcap.com/

At the writing of this article, 16th of November, the condition of the cryptocurrency market is still in critical position – the course of Bitcoin stood at $5 500, and Ethereum backed down the second place in capitalisation Ripple.

Source: https://coinmarketcap.com/

What caused the collapse?

Just think about it, less than 24 hours ago, it was possible to sell the BTC on a thousand dollar higher. Probably, it is impossible to define why “the foundation was cracked” under the cryptocurrency, as for the example it can be done in a regular market. In the digital, the effect is first  seen and only than the reason becomes known.

Reason #1: Contagious effect

On the basis of past, the cause of the fall have psychological nature.
For example, people are massively starting to buy cryptocurrencies or fanatically selling.

Reason #2 : Direct correlation

Each financial currency  pegged to its government, as for the example dollar – to the US economy. Cryptocurrency pegged with the people, which are both buying or selling it.

Reason #3: Global Bitcoin influence

Ironically, but there is a theory, that the general condition of the cryptocurrency is affected by Bitcoin. The value of all digital market is estimated in $182 billion, the $90 billion of which belongs to BTC. The majority of cryptocurrencies  should be transferred especially in Bitcoin, before the sale.
And now imagine, that selling of Bitcoin will start simultaneously several major players of the market. After this, the BTC prices are lowering, and this cause  the panic attacks more than ones: “ Buy everything and as quickly as possible, while the price is low!” – this makes the course to grow.

What should do the owners of cryptocurrency: sell or wait?

It depends on the inner aspects of each owner. Even when the course is rising – it still have cycles of fall.

Who and how will affect the collapse of rate?  

Cryptocurrency is the unstable tool. It’s system decentralised and doesn’t have the management center. Digital currency should strengthen the positions, so it can give the accurate forecast for the future. But, it appeared, that this fall will have no affect on ordinary users.

There is no denying, that in a consequence many crypto-business will close. Cryptocurrency exchange are in the minimum risk area, as in such cases the number of transaction increases.

Most of all, miners and the owners of the mining field will suffer the most. Since, the profitability depends on the price of extracted cryptocurrency. Within recent events, it is clear that mining is unprofitable occupation.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

Crypto Wars: Jihan Wu vs Craig Wright, Who Gets McAfee’s Support?

The infamous hard fork of Bitcoin Cash has created some tension between the major crypto personalities in the industry. It is especially the case with the supporters of the two different BCH protocols.

One of the main “fights” has started between the CEO of Bitmain Jihan Wu and a computer scientist Craig Wright, who have repeatedly gone at each other on the social media, claiming that their vision of Bitcoin’s future is correct. Later on, the “war” was joined by John McAfee who supported Jihan Wu.

Craig Wright did not take long to respond.

Hopefully, the conflict will be settled peacefully, because the crypto industry needs all of the abovementioned people to function properly and develop.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

Cryptocurrency Prices Today, November 16: Cryptocurrencies Continue Falling after the Collapse

crypto prices

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the Coin360 online platform, Bitcoin (BTC) lost 0.87% over the past 24 hours. The price at the time of writing is $5575 per coin.

Some cryptocurrencies keep declining, others are trying to return to the green zone:

Bitcoin Cash lost 5.51% over the past 24 hours and costs $418 per coin;

Ripple added 2.55% and costs $0.47;

EOS gained  0.28%, and its price is $4.56;

Litecoin grew by 0.46%, and its rate is $43;

Cardano lost 0.50%, and its value is $0.061;

Stellar increased by 4.68% and costs $0.24;

IOTA added 0.81%, and its price is $0.41;

Dash lost 1.03% and is $138 in value;

Monero dropped by 0.62%, and its rate is $88.

Ethereum fell by 0.35% over the past day. The cost of the coin is $177.

The total market capitalization dropped significantly to $182 billion. Bitcoin accounts for 52.8% of the total amount. In monetary terms, the volume dropped to $96 billion.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

The Twitter Account of Google Was Hacked to Promote a Scam BTC Giveaway

As we reported about a scam on Twitter yesterday, we had no idea that its organizers would go beyond hacking the accounts of Target and The Body Shop. We remind you:

A Major Twitter Scam Made Target Promote a Bitcoin Giveaway

But they did. They hacked the account of Google. According to the report by The Next Web, one of the official account of Google on Twitter, GSuite, became another victim of the hackers trying to endorse their fake Bitcoin giveaway.


Source: Twitter

The representative of Google stated the following:

This morning an unauthorized promoted tweet was shared from the G Suite account. We removed the tweet and are investigating with Twitter now.”

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

Cryptocurrency Prices Today, November 15: Cryptocurrencies Collapsed in Price

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the Coin360 online platform, Bitcoin (BTC) lost 10.76% over the past 24 hours. The price at the time of writing is $5643 per coin.

Almost all cryptocurrencies absolutely crashed in price:

Bitcoin Cash lost 13.28% over the past 24 hours and costs $447 per coin;

Ripple dropped by 8.94% and is $0.46 in price;

EOS fell by  11.7%, and its price is $4.66;

Litecoin lost 13.45%, and its cost is $42;

Cardano decreased by 14.13%, and its value is $0.061;

Stellar lost 8.24% and is worth $0.23;

IOTA became cheaper by 16.64%, and its cost is $0.48;

Dash dropped by 12.34%, and its price is $142;

Monero decreased by 13.95% and costs $90.

Over the past day, Ethereum lost 12.76%. The cost of the coin is $179.

The total market capitalization dropped significantly to $185 billion. Bitcoin accounts for 53% of the total. In monetary terms, the amount dropped to $98 billion.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

A Major Twitter Scam Made Target Promote a Bitcoin Giveaway

Twitter scammers are getting more and more intricate to make their fraud look like it’s not fraud. This time another scam involves a couple of popular brands (and, surprisingly, not Elon Musk).

A couple of unknown crypto criminals started spreading a tweet, encouraging the community to participate in a BTC giveaway. The scammers promised to give out $30 million worth of crypto. The tweet were quickly deleted, but some members of the crypto community managed to capture it.

The most interesting part of this whole scam is that its organizers allegedly hacked account of such popular companies as Target, The Body Shop, AHDB etc. and used them to endorse their endeavour.

There seem to be no other details on the victims of the scam or whether the hackers were caught or not.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/