This is the game of the whales, but this is exactly what happened with Bitcoin, it was a joke until it wasn't. I wasn't around at that time but I'm sure the comments on its way up must've been hilarious. Ethereum is not another Bitcoin clone, I don't understand much about it but no one can't deny it is completely unpredictable in its potential and that's one of the best features an investment like this could have.
Now, for getting rich, that's another history, one would really need to put in at least 10k at around 600 and wish for it to hit 10-$20 or something like that really, I don't know how much could sustain that kind of pressure.
I seem to recall comments just like these, that Bitcoin would go up to $10,000. Sometimes, you need to know when you've had enough of a good thing.
And I used to recall doomsday comments when bitcoin was $3, and no one ever imagined it would shoot up to $1200+, let alone $40. I think I've been around cryptocurrency long enough to realize that nothing is impossible, and anything can happen. That said, no one should put in what they can't afford to lose - that's common sense.
First and foremost, ETH is not a currency/coin, it's technologically different and fixes many of the issues bitcoin has. It's not trying to be another bitcoin or a better bitcoin, it's an apples to oranges comparison. Also, the value of Bitcoin is not dictated by supply. If that were the case, bitcoin should not have stopped at $1200. If the claims about supply dictating price are valid, then why has the halving had literally no effect on the current price of BTC? Even if it is 'baked into' the current value, it's only decreased. There are far too many ways I could explain how bitcoin quantity has absolutely no bearing on the price.
The point is, to say that ETH should not be so highly valued due to its supply is baseless. Let's examine another asset, gold. The world has not yet mined all the natural resource supply of gold and other precious metals, yet their values rise and fall in relation to the relative rise and fall of markets and other currencies, not due to supply. Have you ever heard the news report that the value of gold increased because scientists have predicted the supply is running out? Or that some big whale just flooded the market with gold so the increased supply made the price go down? LOL.
Gold is valuable because of its use in electronics and metal properties, and therefore, I see ETH similarly valuable because it can become the foundation for decentralized applications of the future. Essentially ethereum is the gold of the future Internet.
One caveat to ethereum's rise is that it can be copied, and one other potential copy on the horizon is called rootstock, which will have a crowd sale in the next few months, though ETH has a headstart much like BTC has a headstart on the other 1.0 chains and currencies.
I should note that I'm really saddened to see so many people criticize ethereum without understanding what it even is. So many people saying it's a "blah blah coin" are making themselves look like idiots because it's not even a coin at all. It's like comparing a car with an electric motor, bitcoin being the car and ethereum being the electric motor.
This is just the beginning. And those who support ethereum now will be the new elite. Good luck with your close-minded naysaying, it sounds all too familiar.
is it really peoples fault they dont understand what etherum is?? The devs are at fault they should explain their coin in a way mainstream society can understand. Heck finding info about the coin, block reward, algorithm is so difficult! If i want to download a etherum wallet how do i do it? If i want to mine etherum how do i do that? Dont even get me started on the lack of a GUI...........
