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>>That kinda smells pump and dump like to me. Yes agreed. Though I would add that this is a paradigm shifting technology, so there may be something substantive
by CryptoPunk 6y ago
>>That kinda smells pump and dump like to me.
Yes agreed. Though I would add that this is a paradigm shifting technology, so there may be something substantive underlying all of this Bitcoin hype.
As for crypto as a whole, Ethereum has real world use cases, like stablecoins and NFTs, and an extensive multi-pronged development effort to expand its capabilities, in particular scalability, that cannot be dismissed as mere hype.
Just on the basis of fee revenue alone, and the assumption that this turns into income for ETH holders once the platform switches to Proof-of-Stake, Ethereum's current valuation can be justified with only the assumption that its price-earnings multiple will match that of relatively mature and low-growth industries like electronics.
- SwimSwimHungry 6y agoPersonally, I'm still incredibly skeptical about Ethereum and its ilk, but certainly a far less energy wasteful PoS methodology in the next version (when it finally goes full throttle) I suppose would be a good start. Adding to this, unlike Satoshi Nakamoto, which I believe to be the alias for a team and not a single person, Vitalik Buterin at least is not shrouded in mystery and is out in the open. I'll give credit where credit's due. He's pretty upfront about his pet projects. I don't share your enthusiasm for stablecoins and especially NFTs, though that's an entirely different can of worms. For now, I'm happy to see where this all goes as I watch from the sidelines and not capitulate to FOMO. Yet so far, I can't help but feel that the market effects surrounding the ETH network is nothing but grifts and rich-on-paper showboating. Plus, my God those gas fees...