The Ethereum Formula - 1ETH = US$3,073.26 - Why you should be "Putin" your faith in Ethereum.... Vladimir has
I believe the recent meeting between Russian President Vladimir Putin and Ether founder Vitalik Buterin speaks volume about the faith we should all have in this Russian born - Canadian raised visionary.
But he's only 19? Right?
(photo source: fortune.com)
Yeah..... so are most of the kids now destroying us old dogs of bodyboarding. That's how "conscious evolution" works. Each generation building on the successes and learning fom the failures of the last. I encourage you to see Vitalik's age as irrelevant. His favourite toy growing up was Microsoft Excel. Simply put..... this visionary genius is no ordinary kid.
Me (33) looking terrified before competing in Round 3 of the 2015 World Bodyboarding Chamionships. My confident cocky and legend teammate Jordyn Ihms (19) stands by in support.
And now the formula......
Assumption 1: Russia will digitalize their Economy leading to 50% of transactions taking place through cryptocurrency by 2027
Assumption 2: Russia will embrace Ethereum as their preferred platform for future smart contract dapps leading to a 20% market dominance for Ethereum in Russia.
Assumption 3: The Ethereum coin supply will be at 113,299,809 by 2027 (based on 2% annual inflation)
Russia is the world's 6th largest economy with a PPP = US$3.482trillion.
Total market cap for the crypto-economy If/when 50% of Russia's economy is running on cryptos = US$1.741trillion
Ethereum's maket cap at this time $348.2billion
Divide by the predicted number of coins in circulation by 2027 - 113,299,809
Per coin price 2027 = $3,073.26
I urge you to consider this formula as incomplete. Obviously, any other countries which included Ethereum as a platform would further increase demand for, and therefore the price of Ethereum. Conversely, Ethereum could easily be replaced and quickly become a sidenote in the history of the crypto-economy.
I, however, am backing this amazing teenager to transform the world. He was early on Bitcoin, he founded Ethereum. What has the blockchain wonder kid got in store for us next. I am excited to find out.
Stay stoked, keep frothing and always remember..... an informed investor is a successful investor
Great article here @beachbuminvestor hope these predictions are close. Really rallying for Ethereum's success as I can see the value in this platform
You and me both @dryan! I'm in both STEEM and ETH for the long haul. Thanks for contributing.
I am expecting it to cross at least $1,000 this year
I'm not sure about time frames. People can be stubborn, set in their old ways. I certainly hope so, but I'm prepared to wait it out until they do see the light. Thanks for your prediction.
Great post! Thanks. I'm really curious to see how the economic system will look in 2027. It may be all based on crypto, who knows. :D
Thanks mate, I actually believe my assumptions are a little conservative, but we will wait and see. Thanks for commenting. Speak soon frother, followed to see what else you have to say.
Awesome. Thanks :D
I really want to believe they are conservative numbers also... there are many variables to consider, most seeming favorable to the price of ether. When you consider the forces backing up Etherium, it's hard to anticipate anything other than success!
after bitcoin my fav currency is etheruem its awesome for tradinng i think
from the old school, mad respect for that dude! You might enjoy the Bitcoin formula I wrote. I still think Bitcoin will be a great store of wealth going forward too.
https://steemit.com/bitcoin/@beachbuminvestor/the-bitcoin-formula-1-bitcoin-ususd428-000-mainsteemmedia-release
Cheers mate,
Fish
What are your thoughts on Russia creating a national cryptocurrency?
http://www.newsbtc.com/2017/06/03/russia-soon-get-national-cryptocurrency/
Great question @joebloggs.
In one word "inevitable".
It is easy to forget that only 3% of Fiat currency is actually tangible (ie. exists in the real world). The remaining 97% is already being stored as 1's and 0's in a computer. The world's economy was digitalized years ago. Cryptocurrency is a very obvious "next step" in the evolution of money.
The advantage with cryptocurrency is that inflation is either non-existent, pre-determined or reasonably easy to predict. It cannot be easily manipulated at a national level (recent accusations of the Swiss manipulating their own currency). Cryptos are fully transparent and comparatively immune to fraudulent reproduction. And the list goes on.
I think the main thing holding back wider acceptance is the governments trying to figure out how they are going to tax cryptocurrency and the banks figuring out how they can keep some control and profit through their movement of money (especially now we've been given a way to do it for ourselves).
That's my thoughts. Agree, disagree?
I agree with all of your thoughts but disagree with your calculation. First, I think the value of Ethereum will be much, much higher if it reaches its potential globally. Second, I still hold a decent chunk of ETH so I am not a "hater."
But I disagree with your Russian thesis. Russia wants to create its own national crypto. If they create a crypto - and they have been inconsistent in what they have said and what they have done - they will try to force adoption. It would be a slap in the face if they created something and then nobody used it. Somebody would lose their job or their head.
Maybe they fork ETH.
I agree. If you look at my Bticoin formula, I did use a global economy. For this formula, it was based solely on Russia's PPP, it can certainly be scaled globally.
My Russian Thesis may in fact be due to my lack of computer knowledge. I was suggesting that Russia may look to create their own currency ass a dapp on the Ethereum platform.
Is this unrealistic or not possible? Genuine question.... I'm not great with computers. lol
Thanks for adding to the debate,
Fish
Hi, Nice content, I am new in steem as well, I am always promised to the community to bring good content always, here is some electricity saving tips, it may be useful to you or other miners.
https://steemit.com/crypto/@cryptopizza/how-to-save-electricity-costs-on-mining-cryptocurrency
Welcome to steemit @cyptopizza. Being a computer newbie I'm really keen to increase my understanding of mining. Thanks for the tip.
Fish