So i\'ve read that observables are looking to overtake promises in terms of usage in some of upcoming JavaScript MVC\'s:
Promises are a representation of 1 future value. Observables are a representation for a possibly infinite amount of values.
Promises will trigger the fetching of that value immediately upon creation. Observables will only start producing values when you subscribe to them. (Unless it's a hot observable, but that's outside the scope of this question)
Promises are designed to represent AJAX calls. Observables are designed to represent anything: events, data from databases, data from ajax calls, (possibly infinite) sequences, etc.