This is why e-journalism is a joke.
ETH is based on decentralized computing. The token itself is used to power these computations. ETH are consumed by operations, which means at some point there will have to be more created/released if computation on the platform increases at all. This puts it at odds for being a "store of value", because frankly, it isn't DESIGNED TO BE ONE. I wish these journalists would get it right, because it is a rather important distinction.
There are other factors that will weigh on ETH price, such as competition for compute-per-cycle from conventional technologies. While ETH likes to think that everyone wants a decentralized hammer for their computing problems, the honest truth is there are piles of nearly-free hammers lying around in the form of open source code and diving prices in cloud computing platforms.
But that doesn't stop the endless Ethereum articles, does it? Its almost like someone knows that the underlying narrative is bullshit, but they need to pump it as an investment -- not as a computing vehicle.
That should give you pause, at the very least. ETH was never designed to be an investment, period.
Topic: [2016-05-18] This bitcoin challenger is up 1,100% this year prime time? (Read 215 times)
May 18, 2016, 10:46:28 AM
May 18, 2016, 09:13:46 AM
This bitcoin challenger is up 1,100% this year — but is it ready for prime time?
Ethereum, the world’s second-most valuable cryptocurrency, has seen its value skyrocket as investors and developers have sought different ways to use the technology introduced by bitcoin. But is it ready for the big time?
That’s what some are asking with its market capitalization briefly crossing $1.1 billion — up from $72 million at the beginning of 2016 — in mid-March. The price of a single ether token has surged from around $1 at the beginning of the year to more than $14 in just months.
http://www.marketwatch.com/story/this-bitcoins-challenger-is-up-1100-this-year-but-is-it-ready-for-prime-time-2016-05-18
Ethereum, the world’s second-most valuable cryptocurrency, has seen its value skyrocket as investors and developers have sought different ways to use the technology introduced by bitcoin. But is it ready for the big time?
That’s what some are asking with its market capitalization briefly crossing $1.1 billion — up from $72 million at the beginning of 2016 — in mid-March. The price of a single ether token has surged from around $1 at the beginning of the year to more than $14 in just months.
http://www.marketwatch.com/story/this-bitcoins-challenger-is-up-1100-this-year-but-is-it-ready-for-prime-time-2016-05-18
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