Bitcoin is the first cryptocurrency in the world.
All payments and user’s data are sent back to Bitcoin’s ledger,the reason why Satoshi create Bitcoin is that people are sick of control by central bank s and governments.But in Bitcoin’s world,all rules are set by Bitcoin, in other words, Bitcoin is a kind of central bank in Bitcoin’s world, it controls everything.
The creator of Ethereum is Vitalik Buterin. He played World of Warcraft during 2007–2010, but one day Blizzard removed the damage component from his beloved warlock’s Siphon Life spell. So he cried himself to sleep, and it was the day he realized what horrors centralized services can bring. At the time he discovered Bitcoin, he was having an attitude of doubt to it and can’t understand how it could possibly have value without physical backing, but he became more and more interested.After a year, crypto projects were taking up his time 30h/week so he decided to dropped out.
Ethereum is a technique that allows anyone who wants to build their own blockchain applications and some blockchain company also use this technique to issue their own token, onEthereum you can make your own rules. There’s a big difference between Bitcoin and Ethereum, the basic that users on Ethereum can make their own rules, Smart Contacts, users can write programs on blockchain and let others who do calculations run the program at the same time.Only Ether can be used for transactions in Ethereum, for instance, transfer fee and handing fee.
It’s so easy to destroy a currency but not to crypto. Cause there’s so many ledgers and have to destroy it all at the same time, how could we find all the ledgers around the world and convince them all?
Below is a reminder from Vitalik Buterin, he opposed those centralized exchange of virtual currency, in his opinion those should burn in hell as much as possible and he criticizing the ability of centralized platforms to determine which cryptocurrencies can be increase in value is a chaos.
Reminder: cryptocurrencies are still a new and hyper-volatile asset class, and could drop to near-zero at any time. Don’t put in more money than you can afford to lose. If you’re trying to figure out where to store your life savings, traditional assets are still your safest bet.
— Vitalik Non-giver of Ether (@VitalikButerin) Feb.17.2018
The rationality of invest in digital assets
Here's a article which professor highly suggested us to take a look and i also be en impressed by the ideas inside.“Money is a biggest imagination of human”.The growth of technology and the more deeper world transaction become is two main trends nowadays which allows people to find out the latest information after wake up.The meaning of currency is humans common belief, we make it valued. A factor can always influence the price, limited amount, bitcoin will no longer output any Bitcoin when the last bitcoin be found in 2140, neither legal tender nor gold has a limited amount, gold’s production get more when price go high. Every digital asset could drop to zero in theory.But in a world where fiat currency can be created infinitely, the value of it can rise a lot as the actual use of these digital assets continues to increase.