Ethereum

Cyclonius · 26-05-2021 2:46pm

SkyRevNet wrote: »

Eth @ 40k would give it a market cap of $5tn. Seems unrealistic given that it doesn't reallly generate any income and has little utility outside the blockchain

Proof of stake is only a couple of months away, and some of the calculations for earnings from staking were quite decent. That's not including the various dApps, etc. that can be built on top of it.

nathan99 · 26-05-2021 3:39pm

SkyRevNet wrote: »

Eth @ 40k would give it a market cap of $5tn. Seems unrealistic given that it doesn't reallly generate any income and has little utility outside the blockchain

if EIP 1559 was implemented at the start of the year 7% of the total supply would be burned already. Gonna put it into a huge deflationary period.

I don't think the effect EIP1559 is priced in already. interesting times ahead.

40K is possible IMO longterm.

SkyRevNet · 26-05-2021 4:18pm

nathan99 wrote: »

if EIP 1559 was implemented at the start of the year 7% of the total supply would be burned already. Gonna put it into a huge deflationary period.

I don't think the effect EIP1559 is priced in already. interesting times ahead.

40K is possible IMO longterm.

Can't see it myself. It generates no income and has no real use outside the Ethereum blockchain.

There mere fact you need it for the Ethereum blockchain gives it some form of "base value" of course, but it's hard to see how that could be as high as €40k per unit.

At the minute, it's value (like the other coins) seems to be driven by FOMO.

The Crypto market at the minute reminds me of the early dotcom years. Everyone was so terrified of missing out on the "next big thing" that everyone threw money at any business that had an "online presence", even if the business model made no sense and was never going to generate income that "rewarded" the investment. Eventually the big correction came and wiped out those businesses, leaving the "cream of the crop".

I think ETH is here to stay and I don't think it will get "wiped out" by that crash, but it will take a serious hit. If it hits $40k before then, then that's great news as I'll make a huge gain. I can't see it though.

OEP · 26-05-2021 4:20pm

SkyRevNet wrote: »

Can't see it myself. It generates no income and has no real use outside the Ethereum blockchain.

There mere fact you need it for the Ethereum blockchain gives it some form of "base value" of course, but it's hard to see how that could be as high as €40k per unit.

At the minute, it's value (like the other coins) seems to be driven by FOMO.

The Crypto market at the minute reminds me of the early dotcom years. Everyone was so terrified of missing out on the "next big thing" that everyone threw money at any business that had an "online presence", even if the business model made no sense and was never going to generate income that "rewarded" the investment. Eventually the big correction came and wiped out those businesses, leaving the "cream of the crop".

I think ETH is here to stay and I don't think it will get "wiped out" by that crash, but it will take a serious hit. If it hits $40k before then, then that's great news as I'll make a huge gain. I can't see it though.

The cream of the crop of the dot.com bubble were Microsoft, Amazon, Ebay etc. . Going on their trajectory, in the long term Ethereum could go very high. Assuming the technology is adopted, which I think it will be.

SkyRevNet · 26-05-2021 4:37pm

OEP wrote: »

The cream of the crop of the dot.com bubble were Microsoft, Amazon, Ebay etc. . Going on their trajectory, in the long term Ethereum could go very high. Assuming the technology is adopted, which I think it will be.

Yes, but they generate income and cash flow. Owning shares in those companies gives shareholders "rights" to those cash flows. That's what drives their share price

I have no idea what drives the price of Crypto. None. It makes no business sense, yet here we are, staring at a $3tn market. I can only surmise that it is driven by pure speculative hype.

In saying that, I definitely think coins like ETH have value, I just don't think it's anywhere near €40k.

nathan99 · 26-05-2021 4:48pm

SkyRevNet wrote: »

Can't see it myself. It generates no income and has no real use outside the Ethereum blockchain.

There mere fact you need it for the Ethereum blockchain gives it some form of "base value" of course, but it's hard to see how that could be as high as €40k per unit.

At the minute, it's value (like the other coins) seems to be driven by FOMO.

The Crypto market at the minute reminds me of the early dotcom years. Everyone was so terrified of missing out on the "next big thing" that everyone threw money at any business that had an "online presence", even if the business model made no sense and was never going to generate income that "rewarded" the investment. Eventually the big correction came and wiped out those businesses, leaving the "cream of the crop".

I think ETH is here to stay and I don't think it will get "wiped out" by that crash, but it will take a serious hit. If it hits $40k before then, then that's great news as I'll make a huge gain. I can't see it though.

I think there is a fomo aspect yes, are we in an overvaluation period yes, but the underlying technology is fascinating especially with DEFI, there are several reports where traditional banks have stated they see DEFI as a existential threat to the traditional finance system.

If this DEFI/Blockchain tech on the ETH network hits mass adoption which is a probability i think $40K is possible in tandem with the EIP 1559 and Proof of stake consensus which changes it to a deflationary asset is possible.

I think blockchain wallet users are currently at 100 million, if it stays at the same pace its projected to be 1 billion within the next 5 years.

also Im not an ETH maximalist I own other digital assets which look promising. Its very possible we are really early in the life cycle of this technology and we go through many ups and downs until we hit a high market cap. I agree with the cream of the crop analysis and 90% of it has no utility.

Unrelated but when I see the HSE getting hacked i cant help but think of the blockchain tech and the solution it provides to these sorts of problems.

seannash · 26-05-2021 5:58pm

mcriot29 wrote: »

Yes 40 possible by 2025-26 that’s what I said.
But right now we are entering a bear market I feel
But sure that’s just my view.
Only a guess but I really do feel Eth will get to 40k

I was referring to your bitcoin prediction in another thread. Anyway not a big deal

OEP · 26-05-2021 7:40pm

SkyRevNet wrote: »

Yes, but they generate income and cash flow. Owning shares in those companies gives shareholders "rights" to those cash flows. That's what drives their share price

I have no idea what drives the price of Crypto. None. It makes no business sense, yet here we are, staring at a $3tn market. I can only surmise that it is driven by pure speculative hype.

In saying that, I definitely think coins like ETH have value, I just don't think it's anywhere near €40k.

I'm not saying 40k either, that guy is just plucking that out if thin air. There is $100B locked up in DeFi on the ethereum blockchain, in a very new industry so if that is to grow in the next 5 to 10 years there could be considerable amounts involved.

grindle · 06-06-2021 12:35pm

Gonna presume anybody interested has already seen this but anybody even slightly interested in this space as a whole should still be watching.

Lex missed out on some points he could've expanded upon but he's a relative newbie and he'll ask him in the next one once prices for those projects have gone 10 or 100x I'm sure

https://www.youtube.com/watch?v=XW0QZmtbjvs

masterboy123 · 06-06-2021 1:03pm

Are the prices going to recover?

grindle wrote: »

Gonna presume anybody interested has already seen this but anybody even slightly interested in this space as a whole should still be watching.

Lex missed out on some points he could've expanded upon but he's a relative newbie and he'll ask him in the next one once prices for those projects have gone 10 or 100x I'm sure

https://www.youtube.com/watch?v=XW0QZmtbjvs

grindle · 06-06-2021 1:07pm

masterboy123 wrote: »

Are the prices going to recover?

Not financial advice: Never ever, sell now

masterboy123 · 12-06-2021 1:04pm

Any guess if ETH will go to ATH of 3500 in the next two months?

Thanks

grindle wrote: »

Not financial advice: Never ever, sell now

el diablo · 12-06-2021 10:04pm

masterboy123 wrote: »

Any guess if ETH will go to ATH of 3500 in the next two months?

Thanks

Nobody knows but I think that it's unlikely.

Thargor · 04-07-2021 10:55pm

Wakey-wakey! ETH to $10k this year?

*touches wood*

antimatterx · 04-07-2021 11:21pm

My portfolio is 70% ETH, so I'm hoping 10K

Shedite27 · 06-07-2021 9:19am

I've been reading a lot about Ethereum and understand the potential use cases where it will disrupt a lot of industries. Where I'm struggling to understand, is why we feel that more people using Ethereum in real life will mean a boom in the price, when Ethereum volume isn't capped. Bitcoin I get, more demand, same supply, will increase price.

If someone was to build an Ethereum-based application for say Smart Contracts, and the whole world started using it, does that necessarily mean that the price must go up? Or would we just keep mining more?

I suppose what I'm trying to get my head around, is will the price of Ethereum go like oil (where the more people using oil, the higher the price), or will it be like the internet, where the real money will be in the applications rather than the underlying technology.

This goes for Polkadot etc too.

antimatterx · 06-07-2021 9:44am

When ETH 2.0 is released the supply will become deflationary. The number of coins will reduce.

06-07-2021 10:53am

Shedite27 wrote: »

I've been reading a lot about Ethereum and understand the potential use cases where it will disrupt a lot of industries. Where I'm struggling to understand, is why we feel that more people using Ethereum in real life will mean a boom in the price, when Ethereum volume isn't capped. Bitcoin I get, more demand, same supply, will increase price.

If someone was to build an Ethereum-based application for say Smart Contracts, and the whole world started using it, does that necessarily mean that the price must go up? Or would we just keep mining more?

I suppose what I'm trying to get my head around, is will the price of Ethereum go like oil (where the more people using oil, the higher the price), or will it be like the internet, where the real money will be in the applications rather than the underlying technology.

This goes for Polkadot etc too.

If anything is to be used as an everyday-currency, it actually needs to be inflationary. If btc was adopted as legal tender everywhere and the price of it steadily rises, people would be smarter to hoard it rather than spend it, thus its use a method for trading wouldn't work. There seems to be a prevalent idea in the cryptoverse that inflationary is bad. ETH has specific tokenomics that govern its inflation but I don't know the details.

sethmcallaway · 07-07-2021 1:52am

Can Ethereum ever beat the price of BTC?

fritzelly · 07-07-2021 2:13am

sethmcallaway wrote: »

Can Ethereum ever beat the price of BTC?

If it does the crypto world will self implode

maninasia · 12-08-2021 3:26pm

https://www.boards.ie/discussion/comment/117275231#Comment_117275231

Metcalfe's law.

gvgdhar · 22-08-2021 9:19am

I have equivalent of a few ethereum coins in a tracker fund. Planning to move to wallet as coins to earn a bit extra by stacking.

Is stacking of ether available in Ireland? What's the best wallet for it.

Thank you

Shedite27 · 22-08-2021 12:23pm

https://www.boards.ie/discussion/comment/117787465#Comment_117787465

What is the fund tracking?

gvgdhar · 23-08-2021 2:52pm

https://www.boards.ie/discussion/comment/117788006#Comment_117788006

Its Ethereum XBTE SE0010296582 tracker. as I didnt have a wallet, I bought this tracker fund.

el diablo · 25-08-2021 6:39pm

https://www.boards.ie/discussion/comment/117793367#Comment_117793367

So if it's a tracker fund it means you don't have control of your own private keys and you won't be able to stake your ETH.

gvgdhar · 26-08-2021 8:44am

https://www.boards.ie/discussion/comment/117803143#Comment_117803143

That's correct. That is the reason I would like to know which is the best wallet to hold ether coins to be able to stake them.

Thargor · 02-09-2021 12:05am

Hello!? Anyone still alive in this ghost town? Probably not but ETH on a bit of a tear all day, great to see.

Daithi40 · 02-09-2021 12:29am

https://www.boards.ie/discussion/comment/117804714#Comment_117804714

ok - so you mean you are going to SELL your ETF funds and use this money to but ETH on a crypto exchange, and then store them in a cold/hot wallet?

funnily, although i have most of my stuff on exchanges, I did move all my degiro funds into that same Ethereum ETF Tracker a while back and have made 10x

But I am not about to sell it and be liable for a tax event and then buy ETH on an exchange and make myself liable for another tax event in the future....

what is your thinking here?

Daithi40 · 02-09-2021 12:29am

https://www.boards.ie/discussion/comment/117836117#Comment_117836117

yep - has been quite delicious 🤑

Kiith · 02-09-2021 9:38pm

Right, so i was gifted some Eth today and spent the last few hours just reading through posts here and looking at the value go up.

My head is filled with visions of 40k Eth by Q4 this year, which is assume is the same for everyone 😂

Ethereum

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