Will we see the destruction of ETH anytime soon? - page 3.

X-ray

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We will see the destruction of ethereum. Grin

it's better if you are searching some articles that were telling you about the history of EOS, ANTshares and Tezos. I remember when so many shillers are yelling those projects will be replacing ethereum or become ethereum killer.
Based on the stat of ethereum network and i can't deny that if some things were going down like total value locked, users and many more. The main point that you shall remember if anyone was not fully moving from using ethereum.
They are only looking for alternative ecosystem

Jackl87

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Quote from: qzl9899 on June 06, 2022, 10:36:08 PM

High gas fees, reduced popularity of DEFI, rapid decline of TVL on the chain, distrust of ETH2.0, criticism from miners, and restrictions on participants by the POS mechanism. Will the challenges of new technologies and new public chains cause ETH to decline rapidly?

I don't think so. I don't own any significant amount of ETH myself, which is a sad thing for me btw, but i still think as an objective observer that Ethereum is still the king of all altcoins and it's introduction was probably at least as important for the whole crypto space as the launch of Bitcoin before. Ethereum was the project that introduced the smart contract functionality and this piece of tech is what makes all the stuff that we are having today like Dexes, NFT's, yield farming, staking and so on even possible.
I also think though that the switch to ETH 2.0 really needs to work and that the fees also need to significantly go down then because i also use BSC mostly nowadays because the fees of ETH are just too high for a small fish like me.

Oshosondy

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Quote from: qzl9899 on June 06, 2022, 10:36:08 PM

High gas fees, reduced popularity of DEFI, rapid decline of TVL on the chain, distrust of ETH2.0, criticism from miners, and restrictions on participants by the POS mechanism. Will the challenges of new technologies and new public chains cause ETH to decline rapidly?

Bitcoin has the highest fee, yet remain the most valuable cryptocurrency, ethereum remain the second ranked cryptocurrency after bitcoin and has the second highest fee. Reduced popularity in DeFi How? Ethereum blockchain has most numerous DeFi tokens. With everything you have said, there are ethereum killers for years now, but ethereum remain valuable and the strongest of them all.

gurunanakji777

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Investors still have high trust in the Ethereum If Ethereum keeps dropping I believe it will be bought back again because it has huge potential and Ethereum proves every time that it's a long-term coin. We all know many new blockchains come and gone but Ethereum is still there so the trust factor is still with Ethereum. A high gas fee is a concern many devs are avoiding the Ethereum chain due to the high gas fees but still a good no of dev wants to stick with the Ethereum chain.

MrDave

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it is always like that only, the more you grow more the challenges you face. But a big technology like eth can overcome the challenges for sure at least at a certain level.

asriloni

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TVL already declined a lot but it seems like the migration is almost coming to its end. These days people are able to using the multiple blockchain and just because ethereum was not scalable enough compared with its competitor and it doesn't mean whole demand already migrated into the new platform. You shall see how ethereum is still stable right now despite so many competitors that were always coming anytime and ethereum is still remain the same.
I can imagine when ethereum will become very scalable and i do believe the demand will be coming back agian.

mumang siat

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Quote from: qzl9899 on June 06, 2022, 10:36:08 PM

High gas fees, reduced popularity of DEFI, rapid decline of TVL on the chain, distrust of ETH2.0, criticism from miners, and restrictions on participants by the POS mechanism. Will the challenges of new technologies and new public chains cause ETH to decline rapidly?

It is difficult for that reason Ethereum is experiencing a decline going forward, the only cases involving mining critics who are dissatisfied with the results, participant restrictions have to be done for some reason, and new technologies and smart chains are things that must be faced in the challenges ahead, this is just a problem small ones that never made Ethereum lose the trust of people, because this coin has reached a very good level of utility under bitcoin, so it's hard for people to ignore them

sunsilk

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Quote from: qzl9899 on June 06, 2022, 10:36:08 PM

High gas fees, reduced popularity of DEFI, rapid decline of TVL on the chain, distrust of ETH2.0, criticism from miners, and restrictions on participants by the POS mechanism. Will the challenges of new technologies and new public chains cause ETH to decline rapidly?

In terms of price, likely.

But in terms of its own chain and what it has contributed to the whole crypto ecosystem, I don't think those things are enough to destroy it utterly. It took a lot of years until it has been built very well and until now, it's still 2nd on the rankings for the entire market.

Wait until the new news comes out for its 2.0 and people will be optimistic again, specifically those that have been looking at it as something that it doesn't worth it anymore.

worle1bm

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Quote from: qzl9899 on June 06, 2022, 10:36:08 PM

High gas fees, reduced popularity of DEFI, rapid decline of TVL on the chain, distrust of ETH2.0, criticism from miners, and restrictions on participants by the POS mechanism. Will the challenges of new technologies and new public chains cause ETH to decline rapidly?

You see lot of transactions on ETH blockchain despite the high gas so it's not going to end up soon and there are lot many underlying things onchain which will keep it running.There are many people who still holds this coin and will be supporting it after btc but it can't take btc place ever.But Vitalik is not so dumb minded as you see he comes up with something technically new to make some changes but they didn't work as expected like the latest Berlin hard fork also didn't have effect on gas so there are problems but will not end up ETH so easily.

Nrcewker

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Quote from: qzl9899 on June 06, 2022, 10:36:08 PM

High gas fees, reduced popularity of DEFI, rapid decline of TVL on the chain, distrust of ETH2.0, criticism from miners, and restrictions on participants by the POS mechanism. Will the challenges of new technologies and new public chains cause ETH to decline rapidly?

ETH as a blockchain might be declined.
But not as a currency.
ETH has more marketcap after Bitcoins.
How can such a coin be destructed ?
It’s the love for ETH , that many people are fond of it and still uses ETH.
Regarding the new technologies, many prefer using ETH, in many ways. So I highly doubt that this might happen.
I myself is also holding a couple of ETH along with Bitcoins.

Dr.Osh

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well, even though we think like that, the fact is that currently ethereum is still the best coin after bitcoin in CMC, or CG. there may be very many shortcomings that ethereum has, but until now the need and demand for ethereum is still very large. this makes me think that it won't destroy it. Ethereum fees have been very high for a long time, but until now it still persists.
besides, many people thought that even under these conditions, ethereum was able to hold its place. if everything returns to normal, the price of ethereum will be higher than it is now, and even more popular.

cabron

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The price of ETH will first skyrocket though so its a bit good for all investors, this I think is the best time to just hold ETH. Those institutions who wants to become a validator of the network will gulp every ETH in the market making the price moon. These validators will be the one who will control ETH for the rest of its lives. You best sell the first at the ATH when it happens.

But how low will the gas free after ETH shift to POS?

shinratensei_

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Quote from: qzl9899 on June 06, 2022, 10:36:08 PM

Will the challenges of new technologies and new public chains cause ETH to decline rapidly?

that's why the new update already proposed to come soon. I expect something big will give a big change to the ethereum started from its migration to the POS and many more. It's too early to say that if we will see the destruction of ethereum soon. The fact that if the network can get the new update and that depends on the miners, i think that it's better waiting for the next update that will come late of this year.
After you have seen the update and you can judge what will be happening with ethereum

ice18

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Too early to speculate on the destruction of eth, wait for POS transition and lets see what will happen since gas fees will reduced significantly, many devs still wants to use eth chain but the current gas fees is the reason why they use alternative chains.

qzl9899

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Quote from: mindrust on June 06, 2022, 10:45:02 PM

Quote from: qzl9899 on June 06, 2022, 10:36:08 PM

High gas fees, reduced popularity of DEFI, rapid decline of TVL on the chain, distrust of ETH2.0, criticism from miners, and restrictions on participants by the POS mechanism. Will the challenges of new technologies and new public chains cause ETH to decline rapidly?

It should happen when you think logically but it is probably not going to because there is so much greed and that greed will keep ETH alive. The number of people who want something for nothing is basically infinite and that means it will create infinite demand for eth till those people lose everything they got.

On the other hand, those "new" blockchains have been trying to dethrone ETH for years and none of them succeeded. That means ETH is doing it right while others don't.

The public chain seems to be the most attractive cake, and there are bound to be many people competing for the crown. As for greed, I think greedy people are also easily infected by fear.

mindrust

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Quote from: qzl9899 on June 06, 2022, 10:36:08 PM

High gas fees, reduced popularity of DEFI, rapid decline of TVL on the chain, distrust of ETH2.0, criticism from miners, and restrictions on participants by the POS mechanism. Will the challenges of new technologies and new public chains cause ETH to decline rapidly?

It should happen when you think logically but it is probably not going to because there is so much greed and that greed will keep ETH alive. The number of people who want something for nothing is basically infinite and that means it will create infinite demand for eth till those people lose everything they got.

On the other hand, those "new" blockchains have been trying to dethrone ETH for years and none of them succeeded. That means ETH is doing it right while others don't.

qzl9899

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High gas fees, reduced popularity of DEFI, rapid decline of TVL on the chain, distrust of ETH2.0, criticism from miners, and restrictions on participants by the POS mechanism. Will the challenges of new technologies and new public chains cause ETH to decline rapidly?

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