Topic: REAL TALK on Ethereum & Future Potential (Read 368 times)
If ethereum gas would simply work like the bitcoin miners fee. Flexible rates depending on volume of transactions, and traffic in the block nodes. Then the sustainability of Ethereum, Eth Crypto will not be an issue. Although am beginning to wonder if the project was indeed intended for Eth to be a cryptocurrency for financial exchanges or just gas for token based transactions.
New to this space, but have done a lot of research lately.
So obviously there is a lot of hype over Ethereum & I am personally buying into it as well. I am on a quest to understand these currencies / technologies at their core to make sound investments. I understand these markets have a bunch of risk. When looking to invest in a coin, its so important to look at how the coins technology will have application in the future. So lets make this thread about the future of Ethereum and maybe some other coins with practicality.
Its interesting how Ethereum's value isnt just based in the fact its a Cryptocurrency:
“Ethereum doesn't care about someone saying hey, i accept eth here. Altough there are places that accept it, or via shapeshift. Also alphabay will implement eth in may. ETh doesn't need to be accepted by random websites to have demand, it already exists in form of gas for the platform. DAPPs/smart contracts need it, therefore the demand exists. “ -mining1
So it appears Ethereum has two seperate driving forces as to what could drive the price up:
1) It being a Crypto similar to bitcoin. As more people adopt it around the globe use it, adopt it this could drive price up...
2) And the much bigger factor at face value I see is the fact that hundreds of platforms are being built on the Ethereum platform that will be required to buy your "Ethers" which again is essentially their gas. This sounds amazing and is really the extent of my understanding. Lets dive in deeper into this area with some questions to gain a better understanding of its potential...
*Please let us know if there is more ways...
Considering the above, does this essentially mean that every platform built on Ethereum will be required to buy Ethereum at some point? So lets say a company needs to store a massive data file & load it into the Ethereum network, will they have to go on the Ethereum marketplace to buy some coins to execute the data storage? Hence raising the currencies value because of demand...
Another example:
If I want to develop my own project on the Ethereum platform would this require me to buy Ethereum to enter? Is there a chance my customers will need to buy Ethereum to run my software? Or lets say I create a new Cryptocurrency on the Ethereum Network, if this new currency increased in value, would the original Ethereum cryto also increase in value because of usage by the new Crpto....
What I am trying to figure out here is does investing in Ethereums Crypto right now give you a true investment into the future implications of its technology? It seems so based on the information above but I would love some more information on this topic.
Additionally, is their a chance that the "Ether" gas model isnt sustainable? Lets say there are thousands of projects built on Ethereum over the next 10-20 years, and only a limited number of coins in circulation to execute their functions. If the price of Ethereum goes through the rough & the supply of circulating coins is limited. Couldnt it mean running your platforms on Ethereum could randomly become very expensive & even unsustainable... Which almost seems risky to develop on the platform if true. Thoughts?
So obviously there is a lot of hype over Ethereum & I am personally buying into it as well. I am on a quest to understand these currencies / technologies at their core to make sound investments. I understand these markets have a bunch of risk. When looking to invest in a coin, its so important to look at how the coins technology will have application in the future. So lets make this thread about the future of Ethereum and maybe some other coins with practicality.
Its interesting how Ethereum's value isnt just based in the fact its a Cryptocurrency:
“Ethereum doesn't care about someone saying hey, i accept eth here. Altough there are places that accept it, or via shapeshift. Also alphabay will implement eth in may. ETh doesn't need to be accepted by random websites to have demand, it already exists in form of gas for the platform. DAPPs/smart contracts need it, therefore the demand exists. “ -mining1
So it appears Ethereum has two seperate driving forces as to what could drive the price up:
1) It being a Crypto similar to bitcoin. As more people adopt it around the globe use it, adopt it this could drive price up...
2) And the much bigger factor at face value I see is the fact that hundreds of platforms are being built on the Ethereum platform that will be required to buy your "Ethers" which again is essentially their gas. This sounds amazing and is really the extent of my understanding. Lets dive in deeper into this area with some questions to gain a better understanding of its potential...
*Please let us know if there is more ways...
Considering the above, does this essentially mean that every platform built on Ethereum will be required to buy Ethereum at some point? So lets say a company needs to store a massive data file & load it into the Ethereum network, will they have to go on the Ethereum marketplace to buy some coins to execute the data storage? Hence raising the currencies value because of demand...
Another example:
If I want to develop my own project on the Ethereum platform would this require me to buy Ethereum to enter? Is there a chance my customers will need to buy Ethereum to run my software? Or lets say I create a new Cryptocurrency on the Ethereum Network, if this new currency increased in value, would the original Ethereum cryto also increase in value because of usage by the new Crpto....
What I am trying to figure out here is does investing in Ethereums Crypto right now give you a true investment into the future implications of its technology? It seems so based on the information above but I would love some more information on this topic.
Additionally, is their a chance that the "Ether" gas model isnt sustainable? Lets say there are thousands of projects built on Ethereum over the next 10-20 years, and only a limited number of coins in circulation to execute their functions. If the price of Ethereum goes through the rough & the supply of circulating coins is limited. Couldnt it mean running your platforms on Ethereum could randomly become very expensive & even unsustainable... Which almost seems risky to develop on the platform if true. Thoughts?
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