Topic: Boring Ethereum - page 3. (Read 864 times)

Even though I'm a newbie I understand duly the actions of etherum
Everyone says bore
I say opportunity, opportunistic era like this is rare
Pack etherum in huge quantities

Well, you'll be seeing more of eth's boring ride since as I see it, we are still in the accumulation phase. Last year's price of eth was just a mixture of good coincidences, that is, bitcoin bull run in the last quarter qoupled oupled with the demand due to the popularity of ICOs.

I think ethereum has passed its heyday, but conditions like this are not entirely negative, this can have a positive impact on them to keep on how to anticipate and develop ethereum platform services for the long term

yeah, that's right im hoping also to recovering of eth i think in the coming years, because other investors are migrating in different blockchain systems causing eth is like a boring what op said and i noticed that. i hope eth devs are making a very good step forward to make a good catch again.

We all see that Ethereum has fallen so badly that although we don't know what happened, with the fall of ICO, the decline in ETH may be inevitable.This year we may really have a hard time seeing $1k ETH, but I think ETH can still rise again, but we need to give it some time.

I am not fed up with ETH and neither think it will reach 1000 dollars, although I prefer hodling ETH, instead of any other cryptocurrency, even BTC. I think the price is consolidating and soon it will change a trend to bulls, we have FUD in the crypto market, but still my choice goes for ETH, out of any cryptocurrency there

After this day I had sold most of my ETH and moved to EOS and NEO. Quite disappointed when vitalik k got any moves for ETH recently.

The price of ethereum is really down to now I think the one who can make a big money on ethereum will not be real and the money lost in their ethereum fund is too big.

Although it costs continue to decline, until now I never tired of the ethereum. Even I feel that this growing the longer the ethereum's good. And I am sure will be soaring price after this.

Patient. Ethereum will definitely rise again next year. If the price of Ethereum as it happens a few days back, all feel bored including me.
During this time I thought that I was one of the many people who would be happy with Ethereum in the future.

Ethereum is good and wonderful. I like the fact that you can make life important situations and decision happen with ethereum. But right now as an investor, ethereum has lost me some money and I'm just going to wait it out;

Me to, I have been waiting for a long time Eethereum increasing the price, in fact now the price movement of ethereum is going to down and down. It seems losing out the price and value day by day. Will the ethereum lose or remove from the market cap?

Indeed, many people say that Ethereum has a good principle and foundation, and it is the second strong in the crypto due to high transactions, but now it makes the holder are scary and wondering.

vbuterinEthereum - Vitalik Buterin • 3d
I obviously have every incentive to disagree with this, but I think there are quite a few very critical economic and technical details that the article is missing.

TLDR: we are likely not doing full "economic abstraction".

Here is the core of their argument:

Suppose we’re building a new decentralized application, BuzzwordCoin. By default, following a standard ERC-20 Token template, every transaction on BuzzwordCoin will pay gas in $ETH. Requiring every BuzzwordCoin transaction to also depend on ETH for fees creates substantial risk, third party dependency, and artificial downwards pressure on the price of the underlying token (if one must sell BuzzwordCoin for ETH ahead of time to run a BuzzwordCoin transaction, then the sell-pressure will happen before the transaction requires it, and must be a larger sale than necessary to ensure sufficient funds to cover the transaction).

Instead of paying for Gas in ETH, we could make every BuzzwordCoin transaction deposit a small amount of BuzzwordCoin directly to the block’s miner’s address to pay for the contract’s execution. Paying for Gas in a non-ETH asset is sometimes referred to as economic abstraction in the Ethereum community.

In Ethereum as it presently exists, this is absolutely true, and in fact if Ethereum were not to change, all parts of the author's argument (except the part about proof of stake, which would not even apply to Ethereum as it is today) would be correct. However, the community is strongly considering two proposals, both of which have the property that they enshrine the need to pay ETH at protocol level, and furthermore the ETH gets burned, so there's no way to de-facto take it out of the loop by making the medium-of-exchange loop go faster. The proposals are:

The modified fee market described in the draft paper here: https://ethresear.ch/t/draft-position-paper-on-resource-pricing/2838 , where average gas usage is targeted to 50% of a (2x higher than today) gas limit, using a self-adjusting minimum transaction fee to do the targeting, where the minimum fee gets burned. This fee would be charged to the block proposer, so the block proposer could charge fees in spankchain tokens or whatever other ERC20, but the block proposer would still be responsible for coming up with the ETH to pay the minfee.

Storage maintenance fees (aka "rent"): pay N wei per byte per block to keep data in storage, or else it gets "hibernated" and you need to submit a Merkle proof to revive it. This fee also gets burned.

By my guesses, well over 2/3 of transaction fees paid could end up being burned through these mechanisms.

Without ETH, a modified version of Proof-of-Stake with a multitude of assets could still decide consensus if each node selects a weight vector for the voting power of all assets (let’s call it HD-PoS, or Heterogeneous Deposit Proof Of Stake). While it is an open research question to show under which conditions HD-PoS would maintain consensus, consensus may be possible if the weight vectors are similar enough.

I actually looked into this back in 2015, and heterogeneous deposit PoS is very hard (maybe impossible) to get right. The problem is, how does the protocol know the ratios between the values of the tokens? One could use an in-protocol decentralized exchange, but (i) this would need to be subsidized to be secure, and (ii) one can construct "pathological tokens" that have rules that are designed to treat any in-protocol penalties as a no-op. So doing this securely would possibly depend on some form of "on-chain governance", which is obviously a huge attack vector ( https://vitalik.ca/general/2018/03/28/plutocracy.html ).

So if the community is not doing HD-POS, then depositing ETH becomes the only way to get access to transaction fee revenues. So altogether, the equilibrium value of ETH in this scenario under even a standard "discounted future returns" model is very much nonzero.

Edit: just saw this:

Detractors of economic abstraction (notably, Vitalik Buterin) argue that the added complexity is not worth the ecosystem gains. This argument is absurd. If the software doesn’t support the needs of rational users, then the software should be amended. Furthermore, the actual wallet software required for any given token is made much more complex, as the wallet must manage balances in both ETH and the application’s token.

Economic abstraction can still happen at the user level; users could pay in spankchain tokens, but the block proposers would still need to cough up ETH. One could also use intermediate solutions, where third parties create "wrapper transactions" that take the fees for operations from users that are paid in spankchain tokens, and the third parties provide the ETH to the block proposer.

https://www.reddit.com/r/ethtrader/comments/9ch5ls/comment/e5av470

We cannot tell anything for 100% sure in this industry. Who thought that the price of ETH and BTC may fall to this level? Lots of experts predicted that those 2 major coins will not come to this level. But it happened. when we see the recent market we cannot expect that the ETH will reach $1000 level this year.

It may be boring to you since you expect too much. You expect to have profits the soonest time. Things don't go that way. I have some advice, considering the trend for the past months of the most coins, sell some amount when the price rises for about 20% compared to its previous week's price and then have a buy order much lower than what you have sold. The market is too shaky, but I see this trend repeats for the past months now that's why I still had some profits even in the current situation. I tell you, it will not be boring.

Ethereum is burning like a candle on the market and with this dip, investors and bounty hunters are on their toes with an aggressive face and eyes always checking the rise in the price.

Ethereum is stable for a long time, so now it should be require to increasing its to take step and strictly implement on it. For these implementation these should be need of new strategic and advance technology that should stream following in progress level.

If I myself will never feel bored with the ethereum. Because now the right moment to hodl. While it is indeed either until when. but hopefully soon be scrapped.

ethereum was in a difficult circumstance indeed for some time. expect results from ethereum enough to be a difficult thing to achieve and even quite often experience a sharp price drop. to reach the $1 k can just be going but somehow this year can be achieved or not is still a hard thing to know.

I am wondering what is happening to ethereum, my best coin. Ethereum is performing very bad and its prices are declining rapidly as compared to other coins. Here I can suggest that people may invest in other coins than already established coins. MTC is a new coin which was introduced just three months ago. And its prices peaked at $ 0.41 just after one month, now stands at around $ 0.07, and is projected to reach $0.50 in coming month. On top of that, it will provide bonus tokens to its holders for the next two consecutive years.