Does Conda replace the need for virtualenv?

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I recently discovered Conda after I was having trouble installing SciPy, specifically on a Heroku app that I am developing.

With Conda you create environments, very similar to what virtualenv does. My questions are:

  1. If I use Conda will it replace the need for virtualenv? If not, how do I use the two together? Do I install virtualenv in Conda, or Conda in virtualenv?
  2. Do I still need to use pip? If so, will I still be able to install packages with pip in an isolated environment?

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