Topic: What's up with Ethereum? - page 2. (Read 910 times)

Ethereum price just reflects the market and that's the fact, when there is a bullrun, Ethereum price would move with it as well, it's just that the market is generally bad right now and the price of Ethereum reflects this, it might seem like the price is just hibernating but I think it's because the ICO tokensale model has died, who remembers the days of gas wars? This made the sales of Ethereum rise and hence the price as well, but those days are gone and I think what would make it rise higher is bullrun.

I think almost all altcoin is experiencing a decline like eth. since the first quarter of 2018 the bitcoin market has declined and this has had an impact on the altcoin market. plus the many cases of ICO scams make eth values increasingly fall. because some ICOs use eth. if there are currently very few ICO projects, then eth demand is also greatly reduced. I think this is one of the reasons eth prices continue to decline. I hope that when Bictoin splits in the next year the eth value will increase.

Current market conditions are indeed difficult for us to predict. as you all say is stable with small movements, not only ethereum but also almost all coins in the crypto market experience the same problem. if you expect the pump to come, maybe it will happen next year. but it should be seen at the end of this year the movement of ethereum and the market when some major updates from ethereum and bitcoin will occur next year.

I think Ethereum and crypto in general are stuck. Bitcoin has settled into digital gold. Ethereum has not found its use case. Its community still pitches lots of ideas. I wrote a post about Ethereum prospect. TLDR: ETH is not looking good, for now.

Original Post: https://bitflate.org/post/2019/11/16/ethereum-and-computer-language.html

Bitflate is a cryptocurrency with constant inflation of 7% per year.
This article reflects author’s opinion, not Bitflate community.

When I first got into crypto in 2017, the first project I looked at was Ethereum (ETH). It captured a lot of attention from the market. I’m a developer so I have the skills to dig around a ETH development framework, such as Truffle. I find the whole ecosystem confusing. The idea of smart contract and programmable blockchain sounds fancy. But like many things in software, fancy is a gloss for complex technology that doesn’t work. I followed ETH development. I didn’t find a good and simple use case that really gains adoption. I think CryptoKitties was probably the most notable project.

After ETH, I studied Bitcoin (BTC). I find it is more focused. BTC only wants to be money, in particular, digital gold. BTC clearly captured this market. ETH is like a research project. ETH is general purpose and programmable. It lacks focus. Their leaders often change narrative and pitch endless new ideas.

It is easy to go down the rabbit hole and attack each other. Some readers challenge my view on ETH. I write this article to explain my view about its prospect in the market.

Three success factors in crypto: use case, use case, use case

I use this real estate adage (location, location, location) to emphasize the importance of use case. Cryptocurrency is a new space. The most important factor that determines long-term success for a crypto is use case. For example, Bitcoin (BTC) is digital gold. zcash and Monero are privacy coins. Dogecoin is meme, fun, tip coin. Bitflate is inflating coin.

ETH pitch is general purpose, programmable blockchain. It is supposed to conquer all markets. But since it is general purpose, it doesn’t do anything particularly well. In digital gold use case, it is trailing far behind Bitcoin. Its programmable capability opens gateway for scams. Post ICO craze, ETH community has moved on to the next pitch, decentralized finance, DeFi.

It is easy to look at ETH history and point out many flaws. But if we think of it as an experimental, research project, we can learn some things from it. I suspect BTC sidechain idea is an effort to compete with ETH. Not everything in ETH is bad. But how do we gauge its success? From my software background, comparing ETH to computer language will give us some glimpse about ETH prospect.

Ethereum as computer language

Ethereum is a programmable blockchain. It’s supposed to be programmable, like a computer language. I find they share similarities. Computer language is obviously programmable . One lesser known fact about computer language is almost all of them are general purpose. That means you can actually program anything with a particular language. For example, Java is a high level programming language. But it’s possible to program an operating using Java. This is an interesting feature but it is also very confusing. Occasionally, people will use programming language in very different use cases.

Programming language shines in specific use case

Each language is optimized and used for a very specific market. For example, when it comes to operating system, the dominant language is C. In enterprise software application, it is Java. PHP is a language that is used for web development. It doesn’t find much use outside of web development. In some cases, we find languages with multiple use cases. For example, Python started out as a scripting language, then it got adopted for web applications, and recently data science.

Drawing from computer language analogy, for ETH to succeed, it needs to find a specific use case. If ETH community keeps pitching general purpose blockchain, they diminish ETH long term prospect.

Polymorphic Ethereum

It is possible for Ethereum to be general purpose for a long time. It can be a fun research project for many years. Eventually, somebody will come up with a working scenario. This occasionally happens in computer language. Ruby is a lesser known programming language. It was invented in 1995. It did not find any success until around 2005. Interest in Ruby surged because a programmer, David Heinemeier Hansson (DHH), invented Rails, a new way to program web application. He decided to use Ruby as the underlying language.

Perhaps, around year 2025, an Ethereum DHH will appear and figure out a cool use case for Ethereum. Even then, it is good to remember that even with Ruby, its use case is limited to Rails. The applicable Ethereum use case will be very specific. It will not be what we see today in the market.

Disclosure: I’m long Bitcoin (BTC) and Biflate (BFL).

all coins in the market are experiencing the same thing. it's been almost the last 2 months the market looks stable and I think this will last until the end of the year. there is no sign of the pump yet, but we can expect that the market will be pumped in the first quarter of 2020 and will experience its peak in the middle of 2020. I think etherum is okay, and everything is almost normal as the crypto market.

The market is dull at the moment and prices of alternative coins rise and fall each and every time. However, I believe the price of ethereum will soon rise once the crypto market recovers.

to wait for the price of bitcoin and altcoin pumps simultaneously will be difficult, then better see the price of the pump first on bitcoin later if the time is right then altcoin will follow the pump. therefore I am still waiting for the peak pump from bitcoin, hopefully this trend continues

Though updates bring interesting changes in the project but the price of ethereum is not solely dependent on this update. We all know that the prices of bitcoin have sheer affect on the values of all other altcoins whether it is as popular as Ethereum or any other altcoin. What I am expecting is that in the coming days as bitcoin is showing improvement in prices, ethereum will also start pumping.

Do you have an opinion on how China can affect ETH and cryptocurrency in general?

this is just my thinking. there are currently too many ICOs using an eth platform that is not perfect. even a lot of fraud using the eth platform. so many investors go and look for a transition. I think investors went to IEO and chose BNB to hold. So that investors release their ethereum and keep prices down. Another factor is that the altcoin session dropped making Ethereum unable to survive and stable at high prices.

It's true that the ethereum is kind of in a hibernate right now since when the year 2018 comes it is in a hibernate so its kind of hard to predict in what will be happen to rthereum. But right now due to the so much hard fluctuating of the bitcoin in which affects the altcoins and ripples, the other coins is going pump up and rising also because of the help of bitcoin.

No not really I do not agree with this because according to my nowadays ETH is getting better and improving after few months it will become fully announce in the market as a well-developed coin but yet it's on the way for it. I personally after bitcoin trust only ETH because it has the ability to give us profit. So now is great opportunity for ETH lovers to buy low.

In my opinion, this is a domino effect. Take a look, it's not only ETH, but most of the highest ranked altcoins experience the same thing, right? One of the most basic reasons is that the price of BTC has fallen dramatically since the end of 2018, which has caused confusion and various bad speculations to circulate. So many investors and holders decide to secure their assets and sell most of their cryptocurrency.

Now the market is behaving this way because of constant policy interventions.We need to wait a little while everyone will say their opinions and come to something, then we will see excellent growth.

So what's your opinion on the context of the current situation? I think the current situation is favorable for this platform because the price is rising again within an overnight, I know it's the influencing by the China president's speech about the potential of Blockchain system for the future perspective, I think this is a big step we have got and this is one of the positive factors which could make us comfortable for this platform. in this way, I think Chinese investors have regained their spirit regarding this platform, so that's why way, both Bitcoin and Etherum will get a positive vibe in the coming days.

I think you should look at what Vitalik is writing in his tweet, you need lots of information about market growth. Yesterday the market was crowded with increased demand and the average of all cryptos rose, then now experiencing correction. It does not mean that when the coin is stagnant they do not provide poor growth, it's just that it is market dependent.

Right now the whole market for alts is down and coming to ETH we haven't heard anything positive from it either. But ETH still is the topmost choice in the alts and is possessing great potential and many other coins are dependent on it so, I believe the market will soon gain some momentum and ETH will again boom and make a good comeback...

All the altcoins have fallen right now. It's not only Ethereum. We all know Ethereum is a good coin and it has a good future. Because there are so many Ethereum based projects. I think the Ethereum and other altcoins will be up when will Bitcoin stable at a higher price.

Yes let's hope so and yes many investors did cash out as they assumed that the value of Ethereum will also go down and this cash out I mean panic selling eventually brought the value of Ethereum down. Ethereum will definitely fight back but I hope it does not end like it did this year. Everything happenes because of FUD which prompted users to do panic selling.

I think that at this time ethereum is still silent and there are no signs of price increases, ethereum is still very calm but when bitcoin can soar high and market conditions are good then ethereum prices can also be rebuffed and will increase prices.