See why I think etheruem will be bullish

longyenthanh

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Quote from: ?? on ??

Agree, if ethereum transaction costs can be reduced it will be a greater attraction for investors to use ethereum. Right now, the fee of transaction is very high even we using economy (Gas setting).

I think anyone interested in the cryptocurrency market can see that most of the new projects are built on the Ethereum platform. Thanks to this, Ethereum has great potential, but the transfer costs are too high. The only solution will be to lower these costs with the introduction of Ethereum 2.0. However, no one knows how much it will be possible to reduce these costs. If it is not a very big difference, it will unfortunately reduce also Ethereum's potential in the future.

darewaller

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Quote from: OcTradism on February 16, 2021, 03:47:49 AM

Quote from: ?? on ??

Agree, if ethereum transaction costs can be reduced it will be a greater attraction for investors to use ethereum. Right now, the fee of transaction is very high even we using economy (Gas setting).

It depends on how you set gas price and gas limit for your transactions. It also depends on the default figures are given by the wallet you are using. Most of people don't know steps to customize price and limit and they automatically accept default figures that obviously always expensive.

If you set gas price and gas limit at low, please read the guide How to cancel or replace an ETH transaction (Metamask, MEW, MyCrypto)

I have worked towards making customized transactions many many times and I can tell you that it is still quite high no matter how you do it yourself. Go check how much it costs and you will see that it costs way more than it should. Ethereums increase is capped because of this gas fee situation and I think it will always be capped for a very very long time. Sure it goes up and it can continue to go up but those prices are horrible for each fee.

I never NEVER pay the preset versions, I am not in a rush so I can wait, which means I will end up spending the bare minimum price require to send without being cancelled and that is why I do not care about whats written on the preset ones and even the bare minimum that goes without being cancelled is above 35 dollars right now and that is just way too much.

TastyChillySauce00

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Quote from: GatotKaca on January 27, 2021, 02:23:39 PM

Of course, it's time for investors to forget about bitcoin and switch investments to ethereum because the already very high bitcoin price will make a loss
bitcoin decline day by day occurs but not for ethereum ethereum was able to survive even just a little drop

Bitcoin high price should actually be the least concern since it has smaller unit which is mbtc, satoshi and even more. The only problem that crypto with high price faces is the fee that keep on increasing alongside the increase of that crypto price.
To be frank, both eth and btc right now is facing the high fee problem and hopefully it could sort out within months.

OcTradism

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Quote from: ?? on ??

Agree, if ethereum transaction costs can be reduced it will be a greater attraction for investors to use ethereum. Right now, the fee of transaction is very high even we using economy (Gas setting).

It depends on how you set gas price and gas limit for your transactions. It also depends on the default figures are given by the wallet you are using. Most of people don't know steps to customize price and limit and they automatically accept default figures that obviously always expensive.

If you set gas price and gas limit at low, please read the guide How to cancel or replace an ETH transaction (Metamask, MEW, MyCrypto)

ven7net

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Indeed, the problem with Ethereum fees right now is preventing the coin from showing even more growth and it would be very good if this problem could be resolved as soon as possible. I personally have problems using ETH and ERC-20 tokens due to high fees and probably many people are experiencing this problem. On the other hand, you can see how large companies are buying large volumes of ETH right now in spite of high commissions and this probably gives them an advantage over smaller users and investors. Perhaps the launch of the solution to the problem with commissions is artificially delayed so that large players can buy ETH. This is just my guess, but in any case, for a more successful development of ETH, the commissions need to be minimal, and then the use of ETH will be greater and its price will be higher.

Kena Banned

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Quote from: CuriousGeorge on January 25, 2021, 09:46:28 AM

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 in my local mining group, they dont care about Ethereum user which need to pay high fee for the transaction. They absolutely against that EIP update and mine only by joining Pools that against it too.
I think it will be a big story in the future about the ends of this war, i hope it doesnt create another Ethereum fork version because of the difference.

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Quote from: bitterguy28 on February 15, 2021, 05:42:25 AM

yet cannot break the 2,000$ value right ?

So how come that this is bullish when the highest reached is 18 hundred ? just 400$ ahead from the former ATH?

Ethereum is the slowest crypto mover for me.

The market in the first place does not move upward in a continuous or consistent manner. As investors or users, we can only wait for things to happen. Whenever there is a bullish market, two cryptos are always expected to make a pump; Bitcoin and Ethereum. At this moment, most of the coins are in red marks so I guess they are equal in terms of such aspect. Also, there are indeed coins having higher rate of increase than Bitcoin and Ethereum, but does it make them superior to these two? I think they don't. Rate of increase is not enough to tell if a coin is better than the other cryptos.

bitterguy28

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yet cannot break the 2,000$ value right ?

So how come that this is bullish when the highest reached is 18 hundred ? just 400$ ahead from the former ATH?

Ethereum is the slowest crypto mover for me.

passwordnow

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Quote from: HerbertMarcel on February 14, 2021, 01:41:13 PM

Gas fees of ETH is so high and Big households are hoarding ETH，Retail investors are gradually being washed out. Also ETH 2.0 pledge leads to liquidity crunch. Most of the investor believed ETH is going to hit above $2k when altcoin pumped on early 2018, then the fact it was dumped to less than $100.In case lower transaction fees means that a lot of people considering it this time around in crypto space. I hope Ethereum could experience a major pump nearly 2k .

Yeah, that's the next price ceiling that everyone is looking for. $2k is just the corner and could be hit anytime now. It is actually near to $2k, with the price of $1,805. It's just struggling to hit $1,900 but that can happen anytime from now. Because of the high fees, many are just choosing to hold it although it's really a holdable coin that we have even before the implementation of 2.0. Good for us that have to stack it when it was in the price of total low and nobody got into FOMO.

HerbertMarcel

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Gas fees of ETH is so high and Big households are hoarding ETH，Retail investors are gradually being washed out. Also ETH 2.0 pledge leads to liquidity crunch. Most of the investor believed ETH is going to hit above $2k when altcoin pumped on early 2018, then the fact it was dumped to less than $100.In case lower transaction fees means that a lot of people considering it this time around in crypto space. I hope Ethereum could experience a major pump nearly 2k .

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Quote from: GatotKaca on January 27, 2021, 02:23:39 PM

Of course, it's time for investors to forget about bitcoin and switch investments to ethereum because the already very high bitcoin price will make a loss
bitcoin decline day by day occurs but not for ethereum ethereum was able to survive even just a little drop

I think that is good way when many investor have move from bitcoin to altcoin and ethereum bitcoin get less dominance on exchange market, will be positive how altcoin price pump. Right now many investor keep trade and invest on bitcoin so dominance bitcoin still above 70% on exchange market, how ever if bitcoin still dominance hard to altcoin moment back to higher price. I think ethereum become most dominance later under bitcoin looking every time have higher price, you still have chance before ethereum raise again on the top price.

Fivestar4everMVP

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Ethereum is always the best coin for me, bitcoin has become very expensive and investing in it has become no child's play, as it requires its investors to have a ball of steels.
For me Ethereum is much more better than bitcoin, come to think of it, Ethereum has much more use case than bitcoin, the only reason why bitcoin is more expensive is cus of its power of incumbency and this power is based on the fact that its the first and the foundation to which crypto is built upon.
Am always bullish on ether and I know that very soon, ether will cross $5000 usd.

GatotKaca

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Of course, it's time for investors to forget about bitcoin and switch investments to ethereum because the already very high bitcoin price will make a loss
bitcoin decline day by day occurs but not for ethereum ethereum was able to survive even just a little drop

kamadazje

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That upgrade will surely to give Ethereum an advantage to go further because most of us wants a cheaper transaction fee and a faster confirmation of our transactions. As their are times that the fee of Ethereum is very high that can be compared to bitcoin but still their is a room for Ethereum developer to make this upgrade.

Ethereum was able to break it's old ATH, so I am congratulating them for this new achievement and I am hoping that they will take their time to make the EIP 1559 upgrade so we can use Ethereum without any worries to it's transaction fee and confirmation time.

TopT3ns

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Quote from: Xxmodded on January 27, 2021, 08:58:07 AM

I have put long on future trading for ethereum and hope price could back again above $1,400 because when bitcoin dump ethereum keep allowing to dump, maybe two days bitcoin have correction and all altcoin keep dump without any chance when back higher price again, still waiting with best moment I keep hold with long future trade and I think ethereum as long position is very good right now during have lower price and open tomorrow hope be green and get much profit.

again, if there is no belief that the price of Ethereum will rise again then you can wait until the price collapses first, then you can buy ethereum as much as you can. Doing future trading is very dangerous because if you don't stand by to see price movements and close the position late, the capital you have will be lost instantly.

Xxmodded

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I have put long on future trading for ethereum and hope price could back again above $1,400 because when bitcoin dump ethereum keep allowing to dump, maybe two days bitcoin have correction and all altcoin keep dump without any chance when back higher price again, still waiting with best moment I keep hold with long future trade and I think ethereum as long position is very good right now during have lower price and open tomorrow hope be green and get much profit.

ethereumhunter

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Quote from: seamusdorakos on January 27, 2021, 07:00:27 AM

Can't disagree with any of those reasons, great research.
I bought some ETH during last year and am kind of sad that I couldn't participate in ETH2 staking, because now I am even more convinced in bright future of ETH and Ethereum

No problem if you can not participate in ETH2 staking because you can still profit from trading, and I am sure that your chance to buy low and sell high will be wide open. Ethereum will get its time to have the bullish again, but this time, we need to be patient and not panic, especially if ethereum goes down for more. What we can do later is prepare our money to buy more ethereum if we want to buy at a low price. Otherwise, we can only wait and see the price movements.

seamusdorakos

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Can't disagree with any of those reasons, great research.
I bought some ETH during last year and am kind of sad that I couldn't participate in ETH2 staking, because now I am even more convinced in bright future of ETH and Ethereum

slapper

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This is definitely what people are looking for: faster transaction and cheaper fee. I personally believe that ethereum were made to become the digital cash while people still concern bitcoin as digital gold. With this innovation, it is apparent that bull will continue to control the current momentum. This huge pull back is just another big correction for the next bull run.

According to my chart, I am looking forward to buy more ethereum when it enters $1300-1100 zone. Give me your thoughts:

raidarksword

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Ethereum got an all time high this month and it's expected it will come again because of the eth version 2 is soon to be launched and with that hype for sure everyone will be stacking up and don't want to be left behind. This is not only will up the price but it's also an anticipated for solving the gas problems and fixing the congested network.

trauchot

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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.

cilgindansci

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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

elisabetheva

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Quote from: numanoid on January 25, 2021, 07:46:53 AM

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.

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.

Quote from: ?? on ??

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.

Chainsmokers

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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

coin-investor

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Quote from: palle11 on January 25, 2021, 06:19:05 AM

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.

TravelMug

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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.

OcTradism

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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.

maxreish

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Quote from: Scripton on January 26, 2021, 08:53:18 PM

Quote from: palle11 on January 25, 2021, 06:19:05 AM

Snip

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.

Scripton

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Quote from: palle11 on January 25, 2021, 06:19:05 AM

EIP 1559: Changing the economic model of Etheruem

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.

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.

Coyster

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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.

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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.

Kabul

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Quote from: palle11 on January 25, 2021, 06:19:05 AM

The major reasons here is the: Lowering of transaction fees.

This is the most important feature. No one wants to spend so much money for fees. Visa and banks have already reduce fees from several services to zero. Bitcoin also becomes cheaper with lighting network and SetWit. In order to become more popular, ethereum needs lot of new amelioration to enhance the current blockchain

Looking forward to collecting more ethereum

Smartvirus

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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.

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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.

Ronny29

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One more reason, why ETH can growth - spot volume remains strong and traders bought the dip

SirLancelot

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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.

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Quote from: CuriousGeorge on January 25, 2021, 09:46:28 AM

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

CuriousGeorge

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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.

palle11

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Quote from: numanoid on January 25, 2021, 07:46:53 AM

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

Quote from: numanoid on January 25, 2021, 07:46:53 AM

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 Shocked

numanoid

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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.

wsxqaz123

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I think there are several reasons：

1、Big Hoarding：Big households are hoarding ETH，Retail investors are gradually being washed out.

2、ETH 2.0 pledge leads to liquidity crunch.

3、Investors' enthusiasm for eth trading increases.

4、Investment of various institutions.

palle11

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EIP 1559: Changing the economic model of Etheruem

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.

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.

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Topic: See why I think etheruem will be bullish (Read 386 times)