Bitcoin, along with other cryptocurrencies, has been described as an economic bubble by at least eight Nobel Memorial Prize in Economic Sciences laureates, including Robert Shiller,[193] Joseph Stiglitz,[194] and Richard Thaler.[195][14] Noted Keyensian economist Paul Krugman wrote in his New York Times column criticizing bitcoin, calling it a bubble and a fraud;[196] and professor Nouriel Roubini of New York University called bitcoin the "mother of all bubbles."[197] Central bankers, including former Federal Reserve Chairman Alan Greenspan,[198] investors such as Warren Buffett,[199][200] and George Soros[201] have stated similar views, as have business executives such as Jamie Dimon and Jack Ma.[202]
The price of bitcoins has gone through cycles of appreciation and depreciation referred to by some as bubbles and busts.[159] In 2011, the value of one bitcoin rapidly rose from about US$0.30 to US$32 before returning to US$2.[160] In the latter half of 2012 and during the 2012–13 Cypriot financial crisis, the bitcoin price began to rise,[161] reaching a high of US$266 on 10 April 2013, before crashing to around US$50. On 29 November 2013, the cost of one bitcoin rose to a peak of US$1,242.[162] In 2014, the price fell sharply, and as of April remained depressed at little more than half 2013 prices. As of August 2014 it was under US$600.[163] During their time as bitcoin developers, Gavin Andresen[164] and Mike Hearn[165] warned that bubbles may occur.
Ethereum was initially described in a white paper by Vitalik Buterin,[10] a programmer involved with Bitcoin Magazine, in late 2013 with a goal of building decentralized applications.[11][12] Buterin had argued that Bitcoin needed a scripting language for application development. Failing to gain agreement, he proposed development of a new platform with a more general scripting language.[4]:88
Network nodes can validate transactions, add them to their copy of the ledger, and then broadcast these ledger additions to other nodes. To achieve independent verification of the chain of ownership each network node stores its own copy of the blockchain.[76] About every 10 minutes, a new group of accepted transactions, called a block, is created, added to the blockchain, and quickly published to all nodes, without requiring central oversight. This allows bitcoin software to determine when a particular bitcoin was spent, which is needed to prevent double-spending. A conventional ledger records the transfers of actual bills or promissory notes that exist apart from it, but the blockchain is the only place that bitcoins can be said to exist in the form of unspent outputs of transactions.[7]:ch. 5
بروتوكول التوجيه بين البوابات (BGP)   بروتوكول التهيئة الآليّة للمضيفين (DHCP) بروتوكول التطبيقات المقيدة (CoAP) نظام أسماء النطاقات (DNS) بروتوكول نقل النصّ الفائق (HTTP) بروتوكول الوصول إلى رسائل الإنترنت (IMAP) بروتوكول النفاذ إلى الدليل البسيط (LDAP) برتوكول نقل أخبار الشبكة (NNTP) بروتوكول التوقيت في الشبكة (NTP) بروتوكول مكتب البريد (POP) بروتوكول معلومات التوجيه (RIP) بروتوكول التدفق في الزمن حقيقي (RTSP) بروتوكول وصف الجلسة (SDP) بروتوكول بدء جلسة (SIP) بروتوكول نقل الملفات (FTP) بروتوكول نقل الملفات البسيط (TFTP) بروتوكول إرسال البريد البسيط (SMTP) بروتوكول إدارة الشبكات البسيط (SNMP) بروتوكول الاتصال الآمن (SSH) بروتوكول تل نت (Telnet) سبيدي (SPDY) مزيد ..
^ Iansiti, Marco; Lakhani, Karim R. (January 2017). "The Truth About Blockchain". Harvard Business Review. Harvard University. Retrieved 17 January 2017. The technology at the heart of bitcoin and other virtual currencies, blockchain is an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way.
تُعتبر بيتكوين عُملة معمّاة (بالإنجليزية: cryptocurrency) ويُقصد بذلك أنها تعتمد بشكل أساسي على مبادئ التشفير في جميع جوانبها، كما أنها تُعتبر أيضا العُملة الأولى من نوعها والأكثر شهرة وانتشارًا لكن رغم ذلك ليست العُملة التشفيرية الوحيدة الموجودة على شبكة الإنترنت حاليًا. حيث يتوفر ما يزيد عن 60 عُملة تشفيرية مُختلفة[6] منها 6 عُملات يُمكن وصفها بالرئيسية [7] وذلك اعتمادًا على عدد المُستخدمين وبنية كل شبكة، إضافة إلى الأماكن التي يُمكن استبدال وشراء هذه العُملات التشفيرية مُقابل عُملات أخرى. جميع العُملات التشفيرية الحالية مبنية على مبدأ عمل عُملة بيتكوين نفسها باستثناء عُملة Ripple [8]، وبما أن عُملة بيتكوين مفتوحة المصدر فإنه من المُمكن استنساخها وإدخال بعض التعديلات عليها ومن ثم إطلاق عُملة جديدة.

Izabella Kaminska, the editor of FT Alphaville, has pointed out that criminals are using Ethereum to run Ponzi schemes and other forms of investment fraud.[67] The article was based on a paper from the University of Cagliari, which placed the number of Ethereum smart contracts which facilitate Ponzi schemes at nearly 10% of 1384 smart contracts examined. However, it also estimated that only 0.05% of the transactions on the network were related to such contracts.[68]
Bloomberg reported that the largest 17 crypto merchant-processing services handled $69 million in June 2018, down from $411 million in September 2017. Bitcoin is "not actually usable" for retail transactions because of high costs and the inability to process chargebacks, according to Nicholas Weaver, a researcher quoted by Bloomberg. High price volatility and transaction fees make paying for small retail purchases with bitcoin impractical, according to economist Kim Grauer. However, bitcoin continues to be used for large-item purchases on sites such as, and for cross-border payments to freelancers and other vendors.[141]
Bitcoin is a digital asset designed to work in peer-to-peer transactions as a currency.[4][135] Bitcoins have three qualities useful in a currency, according to The Economist in January 2015: they are "hard to earn, limited in supply and easy to verify."[136] Per some researchers, as of 2015, bitcoin functions more as a payment system than as a currency.[32]
Ethereum was announced at the North American Bitcoin Conference in Miami, in January, 2014.[9] During the same time as the conference, a group of people rented a house in Miami Gavin Wood, Charles Hoskinson, and Anthony Di Iorio, a Torontonian who financed the project.[9] Di Iorio invited friend Joseph Lubin, who invited reporter Morgen Peck, to bear witness.[9] Six months later the founders met again in a house in Zug Switzerland, where Buterin told the founders that the project would proceed as a non-profit. Hoskinson left the project at that time.[9]
Like Bitcoin, Ethereum is a distributed public blockchain network. Although there are some significant technical differences between the two, the most important distinction to note is that Bitcoin and Ethereum differ substantially in purpose and capability. Bitcoin offers one particular application of blockchain technology, a peer to peer electronic cash system that enables online Bitcoin payments. While the Bitcoin blockchain is used to track ownership of digital currency (bitcoins), the Ethereum blockchain focuses on running the programming code of any decentralized application.