Topic: Is ETH overpriced? - page 4. (Read 2170 times)

hahaha yes I agree with the gas fees, Im glad Ethereum price is getting its bullish momentum but its gas fees is also getting its high momentum which is hurting my profit with eth hope they fix it and focus on it.
"Ethereum Average Transaction Fee is at a current level of 22.54, up from 17.88 yesterday and up from 0.1339 one year ago" Vitalik Buterin should do something about those fees

Couldn't agree more with you, mate. If Bitcoin goes up, so will other altcoins on the market. Ethereum is no different than the rest of the altcoins in this regard. It's very close to Bitcoin in terms of market cap, so we should expect it to "mimic" Bitcoin's price movement on the market. As of today, Ethereum is almost worth $2k per coin. This, coupled with increased network activity, should make fees (in terms of Fiat) soar like never before. From an economic standpoint, it's not feasible to send micropayments across the Ethereum blockchain with ridiculously high fees. "De-Fi" cannot achieve its full potential this way. It's why I think Ethereum is extremely overpriced these days. I find it odd for an "infinite" cryptocurrency like Ethereum to be as valuable as it is right now. No fixed supply, means inflation in the long run. Things would've been different if ETH devs established a hard cap in ETH's supply. They should copy the Ethereum Classic project's "Monetary Policy" if they want Ethereum to sustain its value for a long time.

Nonetheless, prices on the crypto market are getting insane these days. There's a lot of hype surrounding "De-Fi", the ETH 2.0 upgrade, Dogecoin, and now, Bitcoin itself. We should expect ETH's prices to go higher in the upcoming months due to "FOMO". But know this, once the hype comes to an end, ETH will be back to the way it was. Fees will become cheaper, while price per coin will decline. We just have to be patient until that time comes to use the ETH blockchain more thoroughly. At least, developers are working hard to make ETH economically-feasible in the long term. As long as the network remains decentralized, there should be nothing to worry about. Just my opinion

Its not ETH that is overprice but the gas fees!!  ETH volume sure is getting bigger even with high gas fees. This I think they should focus more when they launch ETH 2.0.

I don't think it was, since the beginning ETH price is too little to notice, same with other altcoins. ETH price right now is because of the past year that it accumulate in the crypto market.

Ethereum is a blockchain that was developed to support scripting and the creation of decentralized applications and 'smart contracts' through its virtual machine (EVM)

if you ask me is ETH overprice or not, in my opinion, ETH is not overprice, i still remember bought ETH in 2017, and look at its value right now,
it keep increasing, i think the price is not overprice, you can still invest your money in ETH even now.

This is a good post, even if I disagree. But the race is never won by the car with the most features. Its more about fun, usability,
image, acceptance, community... Story telling.

There is a lot of projects that can do the same ETH can do. Some do it worse, some do it better. The best example why ETH has
no intrinsic value or found a real use-case yet is the recent crash to $1400 from $80. Could an average person even understand
or ever use ETH? Will there ever be a true value in being able to buy and hold 1000 different tokens?

Theres also some other, smaller isues. Like ETH smart contracts not being exactly raved about by the dev community.

Unless you bought ETH for a few dollars, I dont see why you would even want it to succeed? Lets have a project that
everyone of us can have a part of before the billionaires get in.

No, both Bitcoin and Ethereum aren't overpriced. The prices of crypto coins are growing during the bullish season, so it is not so surprising if we see the price increased very big. We also must know if the prices of crypto coins have no limit to increasing, it is volatile and ready to soar or drop any time. It already happened for Bitcoin and Ethereum prices.

The price of ETH has rallied once the market turned to bull run and the entire run was made possible because of the bitcoin halving but the hype behind ETH started because of their plans on upgrading their network which will sort out majority of their problems in paper and they are changing the fundamentals from POW to POS, we will have a clear picture in a few months if the transaction charges issue will be sorted if not the price will dump.

Of course you are missing something when ethereum costs around $ 600 you don't try to buy it and hold it.
and currently the ethereum price has reached $ 1600.
But it's not over yet, because altcoin season isn't here yet and you have the opportunity to buy and join the altcoin party this year

Eth is really useful in terms of having transactions and as a mode of payments or any transactions that not really stay in our wallet for long that causes the price be these way and not too high, I don’t think it’s overprice, it’s already too late I guess from what price in can be just like in 2017 ath of btc and eth. What really overpriced in eth is its transaction fees with late response that makes some investors shift other platform.

Bitcoin has worse scaling issues. Do you think it's over priced too? In my opinion ethereum is not overpriced .

In order to explain why there is no real "cap" on how high ethereum can get, let me show you a great example totally related to this topic. When this topic was created ethereum was under 800 dollars, it was around 770 dollars and that was basically deemed too high for etheruem, considering the high fee's it should not go any higher without fixing that problem first. Now the price of ethereum is actually 1700 dollars, and the transaction fees were above 20 dollars just a day or two ago, and it is seriously very expensive to this day.

This shows you that ethereum doesn't really have a cap, it is unlimited at this point, sure it could not be 1 million dollars per ethereum, but if you think "it is going down NOW" all the time and it keeps going up one by one, that means you are constantly wrong, it may not skyrocket to 10k+ soon but it will keep going to 1800 to 1900 to 2000 and so forth over time.

Compared to BTC i really don't think that ETH is overpriced. Just compare the functionality of those 2 projects. Of course bitcoin still has the advantage that everyone outside of crypto thinks about bitcoin first when they here someone talking about cryptos.
ETH offers just so much more with smart contracts. Just look at the defi hype. Defi is only possible because of the smart contract feature that ETH has. Of course the fees at the moment are totally insane, but ETH is already working on a solution for this and ETH 2.0 is progressing.
So i can imagine that ETH prices keeps on climbing in the next years.

In fact, I think ethereum deserves a higher price than now, because ethereum has become an important part of the crypto world, and the advantages of ethereum's smart contracts make it the most widely used smart contract.

The five stages of grief are:
1    denial.
2    anger.
3    bargaining (You are here).
4    depression.
5    acceptance.

There is no homework needed to be done, eip 1559 is there to drop the price of transactions for sure, all the "I will bid higher to get my transaction first and faster" will be done, and the price will go back to normal levels. That is just what they are planning on doing right now, that is the quick solution, and not even a permanent definite solution.

For that you have to wait few years, and price may actually drop during that period and I really hope it does because I will buy cheaper and cheaper, but the real change will come when it turns to proof of stake.

There is a huge bomb waiting to explode as well, a lot of unwanted small tiny things all clogging the market, when that proof of stake comes that will be all passed as well, there will be bigger blocks and there won't be any problems with miners requisition ton of money, so I hope it will be fixed. There is no guarantee of course for any of this to happen, but it is at least the path we already have.

Maybe that causes eth to have a high price, because most of the crypto users use eth as a daily trading transaction activity. but my explanation is not meant to belittle Litecoin. because I also have litecoin

That is right when BTC starts getting up, ETH is getting also up. No doubt ETH will keep price increases and as you above mentioned ETH has a very large supply, this affects also ETH price. ETH is making the best in its own history. But everything is possible in this world, none can predict what will happen. We will see what happens by the end of this year. The high correlation rate is the main factor that decides the future rate of altcoins, paying attention to the total correlation rate can help you to understand the market movements and predict it in the right manner.

i think Ethereum current blockchain congession which results to the high gas fees is the reason the price maintain a steady momentum. Also not been able to move pass the 2000 dollars price mark. this particular problem happened in the btc network and was resolved immediately. yet ethereum has been struggling to resolve there gas fees issue making it impossible for low come traders to buy/sell tokens.

homework for the ethereum development team to be able to solve the transaction fee problem that has always been a complaint from ethereum blockchain users. I read that it took me more than $ 20 for a token to exchange transaction. others have had a more expensive experience. but in terms of the price of the ETH coin, it can actually be more expensive and not too expensive when looking at how to use the platform and network as described by the OP. the problem is the transaction fees as you experience many ethereum blockchain users.