ETH - Ethereum

Discussion in 'Crypto Forum' started by CFi, Feb 2, 2021.

  1. CFi

    CFi Member

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    Ethereum is a decentralized open-source blockchain system that features its own cryptocurrency, Ether. ETH works as a platform for numerous other cryptocurrencies, as well as for the execution of decentralized smart contracts.

    Ethereum was first described in a 2013 whitepaper by Vitalik Buterin. Buterin, along with other co-founders, secured funding for the project in an online public crowd sale in the summer of 2014 and officially launched the blockchain on July 30, 2015.

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    #1 CFi, Feb 2, 2021
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  2. StockJock-e

    StockJock-e Brew Master
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    Its been a pretty strong rally so far this year, its possible.
     
  3. IMJ

    IMJ Member

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    I add ETH as much as I can. When it hits 10k I'm out, but if it hits 8500 or 9k and it looks like it's petering out until another annual ralley, then I'm out there.

    It could be a few years, but the other side of that coin is that if it isn't there in a few of those years, then I'm out. I can't imagine a world where Federal government won't regulate private crypto into oblivion in favor of a looming "USC" - United States Crypto. It's already happening in other countries.
     
  4. CFi

    CFi Member

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    Thanks for the replies.

    IMJ, what makes you think ETH goes to 10k?

    On the regulation side I do see a coexistence of private crypto and public/state crypto. As far as I know, governments are mostly thinking of establishing some sort of central bank digital currency (CBDC). (Or what were you referring to with "it's already happening in other countries"?) For various reasons, a CBDC would serve a vastly different function in the finance world than, say, ETH. Besides, as of now, crypto still seems more an instrument for speculation than for anything else. I trade crypto, I never pay with crypto. Let alone close some sort of smart contract on Ethereum, or however that might actually work.
     
  5. StockJock-e

    StockJock-e Brew Master
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    Here it goes
     
  6. IMJ

    IMJ Member

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    I've ordered these to intentionally illustrate the synergy involved in the potential growth as each point relates to the next (at least as I see it):

    -ETH has routinely followed BTC in pricing action. And although I'd argue that the correlations aren't as tight as some people would argue they are, ETH follows simply enough. ETH follows an investment that many people smarter than me project into 6 figures of some kind.
    -It is the second most proliferated crypto as far as both market cap and household recognition goes.
    - ETH delivers greater opportunity for market penetration (e.g. people who want metals but can't afford gold buy silver instead). And so, people who don't want to dollar cost average into expensive BTC can still buy whole coins in ETH so it's going to have spillover from BTC increasing market cap.
    -ETH is the network of greatest actual utility. And so it has potential for use that outweighs BTC.
    -The price has steadily improved amidst a market where many people are into crypto, but most people are not. As registrations get approved on the exchanges (which are currently backlogged), userbase will only increase and those users are signing up to buy something. And so the userbase is growing which means you will now have "pennies" coming in by aggregate (the small support) to coincide with institutional buyers (the large support) and early adopters (the medium support). With fully fleshed out user base there should be a price explosion of some kind.

    And so I'm not arguing that ETH is going to 10k. I am saying that the structure for it is sound and can be projected within reason through the points above, and finally that I hope it happens.

    The caveats? It will need to do it before government regulate these out of usefulness in favor of a Federal crypto.
     
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  7. CFi

    CFi Member

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    I concur with all your points, except the regulatory one.

    Especially, the price of BTC and ETH has been moving in tandem, even though the ratio might change over time. When BTC hit 20k in in Dec 2017, ETH peaked at 1.4k. When BTC hit 42k in Jan 2021, ETH was again at 1.4k. (But is moving higher now.) Assuming BTC will be some multiple of ETH, I concur with your idea that's it going towards 10k. The price targets on BTC vary widely -- from 50k to 500k. If we take a somewhat low average, say 150k. And say the ratio BTC:ETH is something like 20:1, this would give us a target of 7.5k for ETH.
     
  8. CFi

    CFi Member

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    For the record: $2000 (b)reached!
     
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  9. Rustic1

    Rustic1 Well-Known Member

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    Some feel it is the silver of bitcoin.
     
  10. StockJock-e

    StockJock-e Brew Master
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    Congrats ETH!

    Now about those gas prices ;)
     
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  11. Rustic1

    Rustic1 Well-Known Member

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    Its a cartel thing. As we close pipelines and lower production they will do what history has shown.
    Last years short lived fuel war made some wealthy people, imagine getting paid to buy oil futures. Obviously it was short lived.
    Oil is dropping amazing what impact TEXAS has on the overall market, or does it?
    Screenshot_20210220-103337_Chrome.jpg
     
  12. IMJ

    IMJ Member

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    That's how I feel......

    Was this post a joke?

    It's awful. In some cases it's costing more to move the ETH than the value of the ETH you are trying to move.
     
  13. StockJock-e

    StockJock-e Brew Master
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    There is a lot complaining that all the cool projects will move off to another coin because its simply too expensive now.
     
  14. StockJock-e

    StockJock-e Brew Master
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    ETH is going to be an interesting case study here.

    The gas fees are incredibly high at the moment and there are so many projects being built on this chain that do not have 2yrs to wait around for ETH 2.0.

    Will ETH force lower fees somehow?

    ADA is going to eat their lunch in the short term.
     
  15. StockJock-e

    StockJock-e Brew Master
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  16. StockJock-e

    StockJock-e Brew Master
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    ETH outperforming on this rebound from the recent sell off compared to BTC.

    Its taken out the high from last week.
     
  17. StockJock-e

    StockJock-e Brew Master
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    Large wallet move to exchange, spooking longs to sell today

    upload_2021-3-15_8-29-3.png
     
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  18. Dave Kraayeveld

    Dave Kraayeveld Active Member

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    I have an, OPINION, digital money is very tempting to a younger generation and has many followers. What does the future hold? Like any business if it is built on a solid foundation it will last. For me one of the keys is regulation. Forget what would North Korea do, the question is what is South Korea doing. So it isn't if it goes to 2,500 or goes to 3,000. The question is why and is it sustainable?
     
  19. StockJock-e

    StockJock-e Brew Master
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    here is the short term downtrend ETH needs to get over

    upload_2021-3-26_11-59-22.png
     
  20. StockJock-e

    StockJock-e Brew Master
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    Broke through it

    upload_2021-3-26_17-53-18.png
     

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