Ethereum Becoming a Store of Value - page 3.

shinratensei_

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Quote from: WinBIts on March 20, 2021, 11:35:08 AM

With so big fees it not suitable for payments anymore

that's why a lot of parties migrated into the new platforms as ethereum is not suitable anymore to be used as a store of value nor the payment system.
It's still a big question about the total supply of ethereum and i will not consider this as a store of value when ethereum has an unlimited supply.
There are lots of people who are being frustrated caused by the fees on ethereum network gone so crazy from day to the day. Ethereum is a crazy chain right now.

acdc

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Quote from: makishart on March 19, 2021, 04:23:24 AM

Quote from: acdc on March 18, 2021, 02:57:13 PM

Investors believe in the currency's future and keep it as a long-term investment.

That's for the big investors but the small investors slowly disappeared from the ethereum platforms caused by they didn't wanna waste their money just to pay the miners.
The long term investment is only suitable for the whales now.
Any major coins are capable to be used as the store of value based on the various factors like development, fundamental, community support, adoption rate and many things can't be written here.

There are still many small investors holding ETH for long, as long as you don't make money transfers, you don't need to worry about fees.
While all the major coins in the market can act as a store of value, ETH seems to be one of the best coins for doing so.

Finestream

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Quote from: codpku on March 19, 2021, 04:26:56 AM

The problem with ethereum only on gas fee beside that ethereum was perfect and definitly it will be a store value like bitcoin and vitalik and rest of the team should doing it fast
Make ethereum more fast, cheap and secure

Even with its high gas fees at the current, ethereum is still known to have more transactions compared to other platform. It's definitely a good store of value and will be even better if ethereum 2.0 has fixed already its main problem. I think the team is looking forward for a more convenient ethereum transactions once this high gas fees issue will be resolved.

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Quote from: NatureMoves on March 17, 2021, 11:59:06 AM

I found a video of Mark Cuban explaining this: https://youtu.be/QEoBeIdwuRg

Do you think Ethereum has potential to become store of value? Why or why not?

The number of long-term ETH holders is increasing as whales appear to be eating up the coin's stock.
Another catalyst that is likely to increase the market capitalization of cryptocurrency is the growing interest in irreplaceable tokens (NFT). The undisputed home of the NFT is Ethereum. Every major NFT market is a Ethereum market. Of course, other chains will do NFT, but as often happens, all the liquidity and all the most valuable things are in Ethereum.
Ethereum can also benefit from the growing adoption of decentralized financing (DeFi), which is "the biggest thing happening in cryptocurrencies."

WinBIts

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With so big fees it not suitable for payments anymore

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Quote from: bonyaserg on March 18, 2021, 09:02:45 AM

A very interesting question: will the Ethereum coin become a store of value? Personally, I believe that for Ethereum to become a store of value, a coin needs to be stable, in which case a preservation option could be considered. But at the moment, the Ethereum coin is unstable and can fall in price at any moment. And then all savings will simply be lost. Perhaps, in the near future, such cryptocurrencies will appear, with the help of which it will be possible to make long-term savings. Many more interesting discoveries in the world of cryptocurrencies await us.

Isn't it already? I mean it doesn't need to be stable, if it is stable that means it is not store of value at all, for it to be store of value the price needs to increase faster than inflation so that we wouldn't have it go down in value. A house that worths 1 million dollars today would worth 2 million in 10 years, you need ethereum to do at least 2x during that period to keep that value.

So, being volatile and increasing in price over long period of time is one of the ways to be really profitable in the crypto world to keep ethereum, plus there will be staking it in the future as well (and I guess it started a bit in some ways) so you will not only hold ethereum but also make ethereum profit from holding it as well. I believe it is one of the perfect examples of store of value and it will continue to be so in the future as well if eth 2.0 provides to be a wanted project.

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Quote from: Questat on March 18, 2021, 05:47:11 AM

Anything that is legit and has a good support from the community in the crypto space is a good store of value. The price volatility will remain but it will become more stable overtime, ETH is 2nd to bitcoin, the top 10 in the market is a good investment in the long run, hence they are a good store of value, however this is only for investors who understand the risk as the risk is significantly high.

Yeap, i really agree with you. High Risk but High Gain, Top 10 Crypto in the market have solid community with tons of liquidity, The price movement was also not really much 1-2% and therefore it's making good store of value for short or long term investing. Well i suppose some investor was already know this risk since it's volatile but it's still and good option on current pandemic where stock market mainly Negative.

codpku

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The problem with ethereum only on gas fee beside that ethereum was perfect and definitly it will be a store value like bitcoin and vitalik and rest of the team should doing it fast
Make ethereum more fast, cheap and secure

makishart

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Quote from: acdc on March 18, 2021, 02:57:13 PM

Investors believe in the currency's future and keep it as a long-term investment.

That's for the big investors but the small investors slowly disappeared from the ethereum platforms caused by they didn't wanna waste their money just to pay the miners.
The long term investment is only suitable for the whales now.
Any major coins are capable to be used as the store of value based on the various factors like development, fundamental, community support, adoption rate and many things can't be written here.

DeadCoin

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We can not give an exact statement here first since we don't hear what is the result of the Ethereum volume 2 that the founder promised it will fix regarding the high fee of ethereum. But if this will gonna fix it might OP is right ethereum will become like bitcoin that good for storing value, not for the transaction. Look at binance, they had a better solution of the fees and I think there are too many traders now using the binance smart chain.
I had like to say, we will wait for the official launch of the ethereum volume 2.

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Quote from: Ridwan Fauzi on March 18, 2021, 06:52:32 PM

Looking at the side function, indeed I'll be agree if this coin can be said as a store of value. Take a look how many altcoin that use this blockchain network and create new feature like ICO and DeFi project that still booming.

Many people has been considered that DeFi project can change the old system that still being used by most people now.

The future of DeFi projects are unknown. They are booming now but their survival won't be tested with bear market. They will need 2 up to 3 more years to be tested. Decentralization are characteristic that people are looking for and would easily fall in love with. If this generation of DeFi projects fails, the later ones will get better success.

Quote

This is why I'll be agree if ETH is a good coin and I'll say that this is the next bitcoin. When many people think that bitcoin is already high then they will choose this altcoin for their investment place.

Ethereum won't be a next bitcoin. It is Ethereum, simply said and I'd like to call it is the altcoin King. Bitcoin is the crypto King. Ethereum 2.0 and Proof of Stake with lock requirements can make the coin is more favorite for storage but let's see. Bitcoin does not need lock, proof of stake to be the King and the storage asset.

Ridwan Fauzi

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Looking at the side function, indeed I'll be agree if this coin can be said as a store of value. Take a look how many altcoin that use this blockchain network and create new feature like ICO and DeFi project that still booming.

Many people has been considered that DeFi project can change the old system that still being used by most people now.

This is why I'll be agree if ETH is a good coin and I'll say that this is the next bitcoin. When many people think that bitcoin is already high then they will choose this altcoin for their investment place.

uneng

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Since I was presented to crypto universe ethereum was already a store of value side by side with bitcoin. Ethereum is one of the few altcoins which actually have a real use, that is its open network to developers run their own projects. It's not going to become obsolete so fast. That is why I think it's a good store of value in crypto universe.

Issues with high fees also happen to bitcoin and they don't make the currency less important and promising for this reason.

jossiel

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Quote from: AmoreJaz on March 17, 2021, 06:36:36 PM

Quote from: jossiel on March 17, 2021, 06:30:42 PM

Quote from: NatureMoves on March 17, 2021, 11:59:06 AM

Do you think Ethereum has potential to become store of value? Why or why not?

Yes.

It's becoming into that point because people wouldn't want to sell it because of the fees. By looking the past prices of it, this can be said that it's one of the good store of value that we have.

But I agree that if the ETH devs won't find a way to solve the current problems that we're dealing with about high fees, it's classification of being a store of value would be gone gradually.

i have high hopes eth team will resolve this gas efficiency problem. i dont think they are sleeping on this prob. now, they will see that a lot of projects are now being built under BSC network. so if they will not resolve their gas issues, they will lose a lot of projects also as several of them already swapped to BEP20.
so right now, it is really not smart to sell your eth, they have high potential to increase its value in the next coming months. next month, we will see the impact of this so-called berlin hard fork. will it make a difference for eth?

We have to wait with the promise about solving the gas problem or high fee problem. They have only taken action when they see that their competitor which is the BSC starts to gain many users and became more desired than the ETHs smart contract.

I won't say that someone selling their ETH isn't smart. We don't know the reason why they do that but if there's a valid reason of why they do that, it's fine. But if someone just sell it out of panicking, maybe that can be said as not smart and not worth it of sale.

acdc

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Quote from: NatureMoves on March 17, 2021, 11:59:06 AM

I found a video of Mark Cuban explaining this: https://youtu.be/QEoBeIdwuRg

Do you think Ethereum has potential to become store of value? Why or why not?

This is absolutely possible, the price of ETH is soaring making it a valuable asset.
Investors believe in the currency's future and keep it as a long-term investment.

iv4n

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Quote from: avikz on March 17, 2021, 12:41:24 PM

Quote from: NatureMoves on March 17, 2021, 11:59:06 AM

I found a video of Mark Cuban explaining this: https://youtu.be/QEoBeIdwuRg

Do you think Ethereum has potential to become store of value? Why or why not?

If I leave all other aspects, considering the insane network fees, ETH is really becoming an investment asset (or store of value) rather than a currency. If it doesn't get resolved, ETH will have Similar fate as of bitcoin because bitcoin is now considered more as an investment rather than a currency.

Hopefully Vitalik will fast track the ETH 2.0 to resolve this matter shortly. Because people who transct regularly using ETH, will move to a different coin just to save this exorbitant fees!

There are many promises to solve the ETH transaction fee issue but for now ETH's transaction fees are still insanely high.
I have discontinued transactions from my wallet and am trying to switch to a different, cheaper platform.

I have a question: How can Ethereum become a store of value when we need Ethereum for making on-chain transactions? It's not just Ethereum, there are so many tokens on Ethereum...

MCDev I am going crazy whenever I need to do something with Ethereum or some tokens on Ethereum. I am using different, cheaper platforms, Tron and Binance, and both are faster and cheaper, to not mention a lot easier to use! If Ethereum developers don't do something about these crazy fees, I think there's no future for Ethereum. I don't know how they got here where they are, but I guess a lot of money got into DeFi and people are using it as long as they can harvest crazy high profit!

bonyaserg

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A very interesting question: will the Ethereum coin become a store of value? Personally, I believe that for Ethereum to become a store of value, a coin needs to be stable, in which case a preservation option could be considered. But at the moment, the Ethereum coin is unstable and can fall in price at any moment. And then all savings will simply be lost. Perhaps, in the near future, such cryptocurrencies will appear, with the help of which it will be possible to make long-term savings. Many more interesting discoveries in the world of cryptocurrencies await us.

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Quote from: iTradeChips on March 18, 2021, 08:58:35 AM

In my opinion, what I think about this is that Ethereum is slowly already becoming a store of value and there were stories of investors buying large amounts of ethereum and holding it for a long time and this happened a few years back. Surely these investors already gotten some profits with the increase of the ETH price but I am positive many people will now buy ETH not for trading or currency related purposes but rather it is for long term investment.

ETH continues to grow, that’s why many become a hodlers and willing to hold ETH even in the next five years. This has been a good strategies for those who don’t want to get stress in the market, they buy yesterday and they’ll sell in the next coming years depends on their target price. ETH is still volatile, but slowly becoming a good store of value, and that makes cryptocurrency a good investment for long term.

iTradeChips

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In my opinion, what I think about this is that Ethereum is slowly already becoming a store of value and there were stories of investors buying large amounts of ethereum and holding it for a long time and this happened a few years back. Surely these investors already gotten some profits with the increase of the ETH price but I am positive many people will now buy ETH not for trading or currency related purposes but rather it is for long term investment.

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Quote from: kenelmark on March 18, 2021, 08:16:47 AM

Quote from: NatureMoves on March 17, 2021, 11:59:06 AM

I found a video of Mark Cuban explaining this: https://youtu.be/QEoBeIdwuRg

Do you think Ethereum has potential to become store of value? Why or why not?

It seems that it is not suitable for Ethereum to be used as a store of value because the price is still unstable from year to year, but if the price can be very stable in the future, then it is definitely possible, because Ethereum is also a token that always has value in the market.

It seems that compared to ETH, BNB has more potential for Store of Value.
as you said, ETH still has erratic movements. Likewise, the supply is too large (before 2.0 is finished). but there is also a possibility that ETH will be a good asset once the supply is determined.
different for BTC, everyone would think about profits every year, when the supply and circulation of the market can be known. there is no doubt about the future value of BTC.

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