Topic: See why I think etheruem will be bullish - page 2. (Read 386 times)
There are many factors due to which Ethereum will grow and the most important factor is, of course, Ethereum 2.0, because Ethereum 2.0 has not yet been fully developed, and therefore when all stages of Ethereum 2.0 will be completely ready, the price of Ethereum will begin to grow and of course we should not forget that now the season of altcoins is still going on and this will also help Ethereum grow in price, and big players are waiting for Ethereum 2.0 to be fully ready to start pumping Ethereum.
Ethereum has many problems, especially transfer fees, but there are still people who invest a lot in it. You also provided information about the problems.
I think Ethereum is successful even in this situation. The Ethereum blockchain will be stronger with new updates and its prices will increase a lot. Anyone can guess that
I think Ethereum is successful even in this situation. The Ethereum blockchain will be stronger with new updates and its prices will increase a lot. Anyone can guess that
Move this to altcoin disscussion.
Why you care so much about ETH? Most of people believe ETH would hit above $2,000 when altcoin pumped on early 2018, then the fact it was dumped to less than $100.
Why you care so much about ETH? Most of people believe ETH would hit above $2,000 when altcoin pumped on early 2018, then the fact it was dumped to less than $100.
when bitcoin in 2018 fell, all altcoins including ethereum also followed, but unfortunately when last year bitcoin increased sharply altcoins did not follow even ethereum could only reach its ATH this year.
This year is predicted to be the time for altcoins to reach their peak, especially for top-ranking altcoins, and ethereum will be able to renew its ATH again.
like that, even down to $ 80. but who would have thought that the current rise in etherum could reach over $ 1000? I think there are many factors such as etherum 2.0, new investors who pump etherum.
Even ethereum has reached ATH, it's just not accompanied by other altcoins, it's very unfortunate and we will wait for the time to run because this year's altcoin will reach its ATH, because this will make the bounty excited. we wait patiently. I do not believe that ethereum 2.0 was the result but because bitcoin has indeed risen.
cannot be sure ethereum will continue to pump what is happening now is just the opposite The decline in ethereum was slight though, I still prefer to wait to invest in ethereum because market conditions are very unstable fear that the bear market will come and make ethereum prices fall far
The major reasons here is the: Lowering of transaction fees.
As most investors move towards a coin that is fast and with low transaction fees, if etheruem platform is able to get the EIP 1559 upgrade within the 6months, you know it will further increase the network coverage, no transaction delay and cheaper fee. It will push demand up certainly and that will cause price chase.
link
This is what we all waiting to happen because I'm suffering from the fees because I have a lot of fo altcoins that are based on Ethereum I have to spend anywhere from $3 to $12 for $15 worth of altcoin, I missed transacting Ethereum with as low as 3 cents I hope with the update that they are going to implement they are going to bring back Ethereum's glory days when it comes to cheap fees.
There is also this article, Ethereum’s Price Could Reach $20,000 in This Bull Cycle According to Metcalfe’s Law.
But I think the biggest contribution if we are going to see Ethereum very bullish this year is the scalability issues which is going to be tackled EIP 1559. If this implementation is delivered by design, then many are going to jump on the bandwagon and to create another hype and push the price to a levels we've never been seen in Ethereum's ecosystem.
But I think the biggest contribution if we are going to see Ethereum very bullish this year is the scalability issues which is going to be tackled EIP 1559. If this implementation is delivered by design, then many are going to jump on the bandwagon and to create another hype and push the price to a levels we've never been seen in Ethereum's ecosystem.
Lower fee with the coming upgrade, ok it's good. Do you recall that when Ethereum has very low transaction fee before the appearance of ICOs and Cryptokitty, how high or low the price of Ethereum was?
By that I meant, why do you try to forecast the price of Ethereum on the transaction fees on ERC20 chain (expensive or cheap)? Is it a good way to speculate the price of a cryptocurrency?
The chart from Glassnode's Insights show balance of exchanges is falling. Whales bought Ethereum and moved it to their wallets to prepare for staking and for future pumps, probably.
By that I meant, why do you try to forecast the price of Ethereum on the transaction fees on ERC20 chain (expensive or cheap)? Is it a good way to speculate the price of a cryptocurrency?
The chart from Glassnode's Insights show balance of exchanges is falling. Whales bought Ethereum and moved it to their wallets to prepare for staking and for future pumps, probably.
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It is more bullish than BTC. We all know the problem in ETH is the gas fees which is so high. I see ETH as a good commodity compared to BTC right now. People are clinging to it than BTC right now. ETH2 is the biggest factor in my opinion for this matter. Once they officially launched it, ETH will be even bigger.
That's why they are making a solution to lower this fees right now. If miners tend to make this EIP successfull then it could be one of the reason again to be bullish. Seems problems of higher fees can now be lower with this gas management with this new hash network.
And yeah, there are some miners that disagree to this proposal because it can change the way traditional miners have been doing before. But if this update can be a good improvements to make it more convenience for everyone, why not give it a try? Anyway, majority support this update so lets see how could this will affect ethereum's development.
EIP 1559: Changing the economic model of Etheruem
This is why I see etheruem having a strong bull this year:
According to DeFi Capital,

The major reasons here is the: Lowering of transaction fees.
As most investors move towards a coin that is fast and with low transaction fees, if etheruem platform is able to get the EIP 1559 upgrade within the 6months, you know it will further increase the network coverage, no transaction delay and cheaper fee. It will push demand up certainly and that will cause price chase.
link
This is why I see etheruem having a strong bull this year:
According to DeFi Capital,

Quote
Ethereum represents a big part of our portfolio.
A big change to Ethereum’s fee structure is in the works.
It stands to solve a critical issue that has been surfacing at an increasing pace in the last few months. Ethereum is still by far the most popular platform for blockchain applications to build on. And people love what is being built on Ethereum, so much so that the network gets completely overloaded from time to time. We all witnessed this first in the ICO boom of 2017, and more recently with decentralized financial applications.
Ethereum handles its transactions in an auction-style. Users pay a fee to the miners to have their transactions processed on the blockchain. The higher you pay, the faster the miners pick them up. When the platform experiences a sudden surge in transactions, users start to bid more in order to get picked up faster, leading to an increasing transaction fee. Projects and users who are not aware of the change in fee, are stuck in ‘’pending’’ until the surge is over, and the backlog gets processed.
As Ethereum grows, you can understand this is not sustainable.
The EIP 1559 change
EIP 1559 (Ethereum Improvement Proposal) will be a great quality-of-life upgrade for Ethereum enthusiasts. It delivers some great benefits:
Predictability of transaction fees. This is great for projects who set transaction fees for their users.
Lowering of transaction fees.. In times of increased activity on the network, transaction fees shift at a minimal range for users because there is no mechanism that drives up the price.
Quicker transactions.. Due to faster processing.
A portion of Ether is burned with every transaction.
Especially this last point has far-reaching implications for the economic model of Ethereum. With this, Ether becomes a deflationary asset. From an investment point of view, this is an essential change. It will create a positive feedback loop on the price of Ether. Now, the popularity among developers and users will be reflected in the price.
With an average of 1 million transactions per day, and showing steady growth since its inception in 2015, this might just be the single biggest change in the history of the most popular blockchain platform there is.
If you wish to get more indepth information of the proposal, Vitalik Buterin made a slideshow of a more technical perspective. Here it is.
The sentiment of the Ethereum community
As with every change, there is also a part of the community that does not agree with the proposed change. People who profit from high transaction fees are amongst the group strongly opposing this idea. There are concerns with difficulties to analyze the proposal and the risk of implementing such a drastic change.
A survey was conducted to poll sentiment on the proposal. Interviewing some 25 projects from different parts of the ecosystem.
There is still a lot of testing, documenting, and communication that needs to happen before EIP 1559 gets implemented successfully into Ethereum. But the initial prediction is that it should be able to go live in about 6-9 months. Don’t mark this in your calendar just yet though, in our experience proposals like this usually get pushed back some time.
The future of Ether as an asset
Now let’s speculate a bit. When this would happen, what would it mean for Ether as a capital asset?
Blockchain is growing out to be the base layer of the next financial system, and Ethereum is by far the most developed blockchain platform. The financial system is slowly adapting to crypto and adopting its capabilities. Interest is becoming ever greater and big players, like PayPal, are joining the space, connecting this with a deflationary supply and it paints a very bright picture for the future of Ether as a capital asset.
A big change to Ethereum’s fee structure is in the works.
It stands to solve a critical issue that has been surfacing at an increasing pace in the last few months. Ethereum is still by far the most popular platform for blockchain applications to build on. And people love what is being built on Ethereum, so much so that the network gets completely overloaded from time to time. We all witnessed this first in the ICO boom of 2017, and more recently with decentralized financial applications.
Ethereum handles its transactions in an auction-style. Users pay a fee to the miners to have their transactions processed on the blockchain. The higher you pay, the faster the miners pick them up. When the platform experiences a sudden surge in transactions, users start to bid more in order to get picked up faster, leading to an increasing transaction fee. Projects and users who are not aware of the change in fee, are stuck in ‘’pending’’ until the surge is over, and the backlog gets processed.
As Ethereum grows, you can understand this is not sustainable.
The EIP 1559 change
EIP 1559 (Ethereum Improvement Proposal) will be a great quality-of-life upgrade for Ethereum enthusiasts. It delivers some great benefits:
Predictability of transaction fees. This is great for projects who set transaction fees for their users.
Lowering of transaction fees.. In times of increased activity on the network, transaction fees shift at a minimal range for users because there is no mechanism that drives up the price.
Quicker transactions.. Due to faster processing.
A portion of Ether is burned with every transaction.
Especially this last point has far-reaching implications for the economic model of Ethereum. With this, Ether becomes a deflationary asset. From an investment point of view, this is an essential change. It will create a positive feedback loop on the price of Ether. Now, the popularity among developers and users will be reflected in the price.
With an average of 1 million transactions per day, and showing steady growth since its inception in 2015, this might just be the single biggest change in the history of the most popular blockchain platform there is.
If you wish to get more indepth information of the proposal, Vitalik Buterin made a slideshow of a more technical perspective. Here it is.
The sentiment of the Ethereum community
As with every change, there is also a part of the community that does not agree with the proposed change. People who profit from high transaction fees are amongst the group strongly opposing this idea. There are concerns with difficulties to analyze the proposal and the risk of implementing such a drastic change.
A survey was conducted to poll sentiment on the proposal. Interviewing some 25 projects from different parts of the ecosystem.
There is still a lot of testing, documenting, and communication that needs to happen before EIP 1559 gets implemented successfully into Ethereum. But the initial prediction is that it should be able to go live in about 6-9 months. Don’t mark this in your calendar just yet though, in our experience proposals like this usually get pushed back some time.
The future of Ether as an asset
Now let’s speculate a bit. When this would happen, what would it mean for Ether as a capital asset?
Blockchain is growing out to be the base layer of the next financial system, and Ethereum is by far the most developed blockchain platform. The financial system is slowly adapting to crypto and adopting its capabilities. Interest is becoming ever greater and big players, like PayPal, are joining the space, connecting this with a deflationary supply and it paints a very bright picture for the future of Ether as a capital asset.
The major reasons here is the: Lowering of transaction fees.
As most investors move towards a coin that is fast and with low transaction fees, if etheruem platform is able to get the EIP 1559 upgrade within the 6months, you know it will further increase the network coverage, no transaction delay and cheaper fee. It will push demand up certainly and that will cause price chase.
link
It is more bullish than BTC. We all know the problem in ETH is the gas fees which is so high. I see ETH as a good commodity compared to BTC right now. People are clinging to it than BTC right now. ETH2 is the biggest factor in my opinion for this matter. Once they officially launched it, ETH will be even bigger.
Ethereum has looked 'bullish' since last year up to this year when it reached it's previous atm, so this info in the op is an extra to the eth network, ethereum is garnering more Investors as the network continues to expand, gas price is definitely an issue that needs to be resolved, but that aside, I don't think there's too much cons in the network; this year (2021) will prolly be a very pivotal one for eth, and if their devs keep working on improving the eth ecosystem, then the price would prolly appreciate above $2000 by the end of the year.
Basically the ethereum is soon going to activate eth 2.0 network which also has a deflationary model where part of eth will be burned with each transaction or we can put it in another way that a part of transactional revenue will be used to buy and burn eth that will reduce the circulating supply, no doubt this model will be extremely bullish for Eth price and i think Ethereum is going to be very expensive in coming months.
The major reasons here is the: Lowering of transaction fees.
Looking forward to collecting more ethereum
In my mind and possibly in the minds of the likes of me, Ethereum is likely to pump due to the recent pump we experienced in the just concluded bullrun. It was more like across all coins but we know better that bitcoin benefited the most. That aside,
The pump set bitcoin at a rather high position and creates in the minds of small investors the sentiment that, bitcoin has gone too far above reach and Ethereum is the next in line as the new bitcoin so, it won't be bad to buy now and hoard it for a long time. With this in the minds of many, Ethereum could experience a major pump.
The pump set bitcoin at a rather high position and creates in the minds of small investors the sentiment that, bitcoin has gone too far above reach and Ethereum is the next in line as the new bitcoin so, it won't be bad to buy now and hoard it for a long time. With this in the minds of many, Ethereum could experience a major pump.
This year become most stronger higher price of ethereum after last 2017 touch above $1,000 and now ethereum really back again to higher price, I think many time we can see ethereum keep going up but depend how constant bitcoin price, today bitcoin going down and ethereum back to lower price, but I believe ethereum become most worth coins in this year because can up more than other coin before.
One more reason, why ETH can growth - spot volume remains strong and traders bought the dip
There will always be those who don’t want progress of something because they are benefiting from the bad conditions of that thing, just as the writer has pointed out in the sentiment of the community.
Anyway, whether they want it or not, we are not going to just remain stagnant because of a useless group that are only interested in their pockets, nah no way , the project will continue to move further and the Ethereum Blockchain will experience more growth than what it has seen last year and this year so far. Having lower transaction fees means that a lot of people will be considering it this time around.
Anyway, whether they want it or not, we are not going to just remain stagnant because of a useless group that are only interested in their pockets, nah no way , the project will continue to move further and the Ethereum Blockchain will experience more growth than what it has seen last year and this year so far. Having lower transaction fees means that a lot of people will be considering it this time around.
It's a very interesting EIP but i have heard that there are some group of miners against this EIP. Will we see another drama that will come from the ethereum core developers vs Ethereum miners?
This sounds bad for me. I have seen someone that claimed as an ethereum miner has also disagreed about this proposal.
Yes you heard right, some miners went ahead to partner with few small Ethereum mining pools to go against the EIP 1559, but honestly this was meant to fix the high gas fee on Ethereum network but also will affect miners mining reward, I don't know how buterin is going to fix this This sounds bad for me. I have seen someone that claimed as an ethereum miner has also disagreed about this proposal.
It's a very interesting EIP but i have heard that there are some group of miners against this EIP. Will we see another drama that will come from the ethereum core developers vs Ethereum miners?
This sounds bad for me. I have seen someone that claimed as an ethereum miner has also disagreed about this proposal.
This sounds bad for me. I have seen someone that claimed as an ethereum miner has also disagreed about this proposal.
Move this to altcoin disscussion.
I will consider that, no problem on that was thinking the beginners will have a thing to learn about ethereum
Why you care so much about ETH? Most of people believe ETH would hit above $2,000 when altcoin pumped on early 2018, then the fact it was dumped to less than $100.
Bitcoin has been the leader in the market. It also dropped which is why etheruem followed. I guess you know the cryptocurrency history of bull and bear
Move this to altcoin disscussion.
Why you care so much about ETH? Most of people believe ETH would hit above $2,000 when altcoin pumped on early 2018, then the fact it was dumped to less than $100.
Why you care so much about ETH? Most of people believe ETH would hit above $2,000 when altcoin pumped on early 2018, then the fact it was dumped to less than $100.
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