Why is the price of Ethereum so high if there is no coin limit?
Why is the price going up despite nobody using dapps or smart contracts? You would think the price is going up because most people are using the gas ether for dapps but this is not this case. No one is using dapps and no is adopting smart contracts yet. We are still early for that.
Also given that ether is more of a gas than a currency isn't it better to have a low price?
Help me figure this out. I want to invest in Ethereum right now but just not sure if this is all been driven by speculation. I want to understand the fundamentals behind the price.
also vitalik will delete your coins if he doesn't like you
Jordan Evans
>Why is the price going up despite nobody using dapps or smart contracts? Lawyers are writing about smart contracts nowadays. Valley companies are forming, I read about one that does smart contracts for tenants and landlords.
What it comes down to is that within a year we will switch to Casper, which is partial proof of stake. When it goes full proof of stake nobody will be able to mint new coins. New ether will come only from people already holding ether, so there will not be a need to ever sell the principal, just the staked coins themselves - the interest. Ethereum is the passive investment of the 21st century.
Jeremiah Parker
> Why is the price of Ethereum so high if there is no coin limit?
There will almost certainly be a coin limit imposed. First in this:
Which will reduce issuance significantly. And then when PoS switch is made.
> Why is the price going up despite nobody using dapps or smart contracts? You would think the price is going up because most people are using the gas ether for dapps but this is not this case. No one is using dapps and no is adopting smart contracts yet. We are still early for that.
It's still speculative. Keep in mind, Ethereum's market cap is only 20 billion. Amazon still barely ekes out a profit, and their market cap is almost 500 billion.
Now, that's not to say that Amazon isn't farther along in proving its usefulness. It is. But even they still haven't truly demonstrated they can generate profits to justify their valuation. Similarly, Ethereum's price is driven by speculation about what it *will* be able to do. And I think there is good reason to think that, while Ethereum may not achieve its grandest vision, it will at least achieve some level of adoption and relevance. More than enough to justify a meager 20 billion valuation, if not much more.
> Also given that ether is more of a gas than a currency isn't it better to have a low price?
That would be true if the rates for gas operations weren't adjusted in response to price changes as well. But since they are, it's ok for the price to sit at any level, really.
Brayden Walker
>I read about one that does smart contracts for tenants and landlords
They don't mention ethereum, bitcoin or anything else, but its obvious they're trying to make it sound as normie as possible - e.g. "we dont use cryptocurrency, only USD" at the bottom.
Colton Richardson
Lol wow! Couple companies no one has ever heard of. Literally nothing dude. No one is using smart contracts. It's still way too early.
Once again. Tell me if ether is supposed to be the fuel why in the world would you want to go higher? Doesn't it make sense for it to be cheap so the applications cost less to build?
Help me understand it. I'm from KanyeToThe a music forum and everyone is going crazy over these cryptos especially Ethereum. There's a 100 page thread there on it.
I just don't want to put money into something I don't fully understand.
Oliver Ross
Yer this is what I don't understand I thought crypto guys cared about decentralization?
Joshua Rogers
cmon all the day i read this shit, learn on what you are talking about, because othere bros may be mistaken cuz of you!
Elijah Collins
At the end of the day ethereum is programmable money. What does that give you? Automation and cost savings.
Think outside the box. Every time you barf in the uber on the way home after trying to get Staceys at the club, the driver has to take a picture, send it to uber, then uber charges your CC, then you charge it back, then uber sends you a legal statement, then you stall it, etc.. etc...
All of that shit requires people, and people are paid money to work, even if its some support call center in the Phillipines for $500/m.
Why not skip all of this bullshit, and install a one time camera which will trigger a picture right before you get in, and get out and compare. Then the smart contract you agreed on deducts funds for cleaning if you really did ruin the seats.
But what do you care? Im throwing $50 biweekly into ethereum since 2016, and been shilling it on /biz. People who see a little bit ahead realized the potential.
Wyatt Rogers
bubble
Evan Williams
>from a board centered around kanye west music >expects us to spoon feed him info You and your shitty taste I'm music can fuck off right out of here, nigger.
Brandon Scott
Why are you so mad? :hah:
I don't even like Kanye. It's a huge forum and its not centered entirely on him. I mostly post in the rock/indie section and life and advice section of the site.
Not being asked to be spoon fed but it seems a lot of you nerds don't know what you're talking about and like the retards on KTT are just buying into the hype.
Charles Cox
So how about you buy 100$ worth which is 5 of his stupid CDs. Hold it for a month if you double your 100$. You know what to invest in.
Adam Nguyen
Because that's a stupid way you invest you fucking baboon. Might as well just gamble. Thats not investing. That's speculation that is built on hope. I Iike to understand the fundamentals.
Bentley Green
Read some books then faggot and stop asking advise on forums ?
Jack Perry
Books on what? Ethereum?
Fuck. You guys are just as retarded as the people on KTT. Maybe Reddit was a more appropriate place to ask.
Jaxon Jackson
Kek go join t_d as well
Jayden Miller
Noob question incoming:
I transferred some ETH from Poloniex to myetherwallet, but the transaction is not showing up in etherscan.io. The transaction is confirmed from Poloniex's side. The addresses match. Time to panic or is this normal? It's about 4-5 hours ago I made the transfer.
Wyatt Long
I was confident Ethereum was going to be a revolution, but trying to develop a smart contract was a cold shower. Everything is in a half broken state with little documentation and issues from one year ago still not fixed. I wonder if there are actual developers working on this or if it's just a skeleton crew while everyone else is riding the hype and partying hard.
Nathaniel Smith
This could be huge... good god. I was just showing my coworker who knows nothing about cryptos and she thinks it sounds incredible.
The whole world gets shakled, hell, even the exchanges are getting burned. But here's still someone who DOESN'T HAVE THE BALLS. I speculate you cry at night coz you haven't sold the bible for 100 BTC in 2013 !!!!
Have no leftover money, some BTC so i can join? :/
35cQ17xkPGfmiGBGjukCgpKofW8Wetw6mE
Jonathan Gray
no really, BANCOR. I would go with capital, but can't shift value, i feel like i'm too late every day.
35cQ17xkPGfmiGBGjukCgpKofW8Wetw6mE
I would pay back when market for US CITIZENS opens... no shit
Caleb Mitchell
>Putin bows to Vitalik >Controls ethereum with an iron but fair fist >Vitalik said to have 215+ IQ, such intelligence on Earth has only existed deep in Tibetan monasteries & Area 51 >Can bend space and time to solve the halting problem >Learned fluent c++ in under a week >Personally hardforked reality resulting in Berenstain Bears anomaly >Preminded 85% of ethereum in existence >Can sell unlicensced securities with immunity
Owen Baker
just wait until the BTC fork on august 1st and the bankers can delete your nu-BTCs when you speak out against them.
Thomas Parker
>be crashing a random office party with my colleague >get talking with some entrepeneur dude >randomly starts talking about how he just attended a conference on blockchains and then says some shit about ethereum and smart contracts and stuff Seems like it's beginning to catch on in the mainstream, almost as much as bitcoin.
Captcha: select all cars lol
Anthony Rogers
>not sure if this is all been driven by speculation It is absolutely all driven by speculation.
Logan Miller
Amazon doesn't post a profit only for tax purposes via crafty accounting. They are the biggest tax dodge on the planet. If you know how to handle your assets properly you can roll in the dough and make it look like you're barely making ends meet.
How do I know? I used to work in the accounting dept. at Amazon
Yeah I'm sure Stacey and the girls will be attending a blockchain conference instead of going to see the new Pirates of the Carribean.
Jonathan Ward
Anyone? Halp
Caleb Jackson
I think ur fucked
Colton Diaz
I wanted to do this as well. Can you elaborate?
Aiden Taylor
"...and God said that this meme was good."
Dylan Flores
it's not only amazon, most brick, and mortar business do this trick
Jayden Myers
minimum transfer is 1 eth for poloniex
Thomas Williams
Hi i'm stacey. The main guy kinda looks like Johnny Depp. OMG if that is him i'd totally go watch that movie just to get a good look at him. He is soooo dreamy and ugh his hair and his jawline ugh good god.
But anyway i'm off to go get my nails done and spend my daddy's money on clothes I wear to get Chad to fuck me
Bye!
Tyler Wright
Fingers crossed people lose interest in ETH and Strat gets picked up since it actually is doing similar stuff to ETH but better
This isn't a coin! No one can speculate on its value, so what good is it in the context of Eth?
I mean, aside from a couple gambling apps, absolutely nothing on Eth is functionally earning revenue right now. With that in mind, people are spending eth to buy into purely speculative ventures.
I'm not saying that they're lacking in potential, but the value of everything from GNT to BAT is speculative at this point, so OP's question is totally valid.
OP, if you're worried about the viability of the projects being publicized, look deeper, there are some functional uses for the tech, and some innovative stuff that's just getting to market now.
Jacob James
It probably is. go to /r/wallstreetbets and /r/ethtrader. I'm sure you'll be a huge hit there.
