The new York Times published an article today on Ethereum giving the upstart rival to Bitcoin some mainstream publicity.
Ethereum was created by a 21-year-old Russian-Canadian, Vitalik Buterin.
From the article:
Joseph Bonneau, a computer science researcher at Stanford who studies so-called crypto-currencies, said Ethereum was the first system that had really caught his interest since Bitcoin.
It is far from a sure thing, he cautioned.
“Bitcoin is still probably the safest bet, but Ethereum is certainly No. 2, and some folks will say it is more likely to be around in 10 years,” Mr. Bonneau said. “It will depend if any real markets develop around it. If there is some actual application.”
It seems that many major corporations are starting to look at Ethereum, companies like JP Morgan have been fascinated by blockchain technology. The article does mention that many companies are creating their own private blockchains and that could “ultimately detract from the value of the individual unit in the Ethereum system — known as an Ether — that people have recently been buying.”
The price of Ethereum has risen over 1,000%, from the article:
Since the beginning of the year, the value of an individual unit of Ether has soared as high as $12 from around $1. That has brought the value of all existing Ether to over $1 billion at times, significantly more than any virtual currency other than Bitcoin, which had over $6 billion in value outstanding last week.
The article is well worth a read if you are interested in these kinds of technologies.
Interesting. If I don’t even trust Bitcoins I wonder how long will it take to accept anything even more exotic…
Be very careful with new coins, especially ones with Russian backing.
When something is not tangible, or regulated, always after the fact.
Russian backing crypto-coin? Where?
Buterin doesn’t have any connection with russian authorities. Only he born in Russia, nothing more.
Bitcoin brand is like .com
First mover advantage is strong
Especially as a BRAND.
What Spencer said. Everything else is C-grade.
Especially when one considers that the real measure of value for crypto currencies comes from the ability to *spend* them. Simply trading a crypto currency back into dollars means it’s a security (and a highly unregulated one at that) and not a currency.
What can you buy with Ethereum? Not much.
I bought into the lisk ico. Lisk is much easier to program than ethereum. I am mining bitcoin and ether but I am hoping lisk adoption is more popular. They are all awesome!!! If you trade domains we already know you are a gambler! Why not invest in something that is the uber to the banking mafia? Blockchains will wipe out entire industries.
Obviously don’t invest money you camnot afford to lose.
Ether is great,it’s value lies in it’s ability to do smart contracts on the Blockchain.
There are many large companies using etherum Microsoft being one of them,that being said the Bitcoin Blockchain will also have these attributes soon as soon as segwit,sidechains and block size increase are implemented.
The Bitcoin Blockchain is the most secure Blockchain in the world.
Being close to this tech I can say it has it’s advantages but the biggest disadvantage is as spencer says.
Curb your enthusiasm.
“The banking mafia” will never allow anything to grow and prosper, unless it fully controls it.
And then the profits are theirs, not yours!