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RE: The Magnificent Ethereum Machine
I'm interested to know what your view is on Ethereum @kyriacos? are you a supporter of the project?
I'm interested to know what your view is on Ethereum @kyriacos? are you a supporter of the project?
I drew this to express my (current) view
Care to elaborate then, its a nicely thought out drawing for sure, but can't really make out if you actually support this project or not sorry.
Right now ethereum is an overpriced complicated machine that does a very simple thing. It also has a very weak foundation and everything can tumble over at any minute. Nonetheless, it looks cool.
Basically what I see happening is people and corporations "buying" into the idea of blockchain. Ethereum, with a more centralized approach, which may be needed, is currently winning. But it is extremely vulnerable to competition in a new technology that has had major MAJOR setbacks in the past. Like I posted earlier, it feels like the .com bubble only now it is ICO's.
What feels different is that this truly does have the power to distribute value, wealth and ideas even further than before.
I think we are still quite far away from a bubble. Maybe close to half a trillion we can start talking about one.
Haha i should have refreshed the comments before guessing into the blue.
Thanks @kyriacos, I got most of that from your detailed drawing, I'm going to guess by this response that you aren't a supporter then? or are you just keeping some coins on the side in case it doesn't "tumble over"? I mean just because it could tumble over at any minute doesn't mean it's going to? trying to work out if you have invested or decided not to invest out of principle coz I'm of the latter opinion but keep getting reminded by friends that I'm just paranoid.
Oh no. I am invested. I am might be totally wrong too. I don't claim to understand ethereum. I am just being ironically satirical due to the unreasonable hype
Ok fair enough, thanks. the unreasonable hype is a result of the immense marketing budget this project has... "Fake News", all stakeholders have a vested interest in propagating that hype even further, this is playing on the FOMO tactic and I suspect there is layers of corruption on Ethereum yet to be discovered, I doubt we'll ever see it hit below $100 again and that would be purely a result of stubborn holders but yeah ETH is going to keep this trend and creep up to the value of BTC or it's gonna crash badly overnight. perhaps I should just be thinking of riding this hype train and place some safety stop orders so it doesn't crash while I'm asleep. haha
I will try to read something into it.
To not be in danger of a imminent collapse @kyriacos advises to first improve the fundamentals and scaleability before we build a ICO-tower of babel on ethereum.
Thanks, I think you interpreted the drawing spot on, I was mostly prodding to understand where he stands as an investor, I probably could have been clearer. :)
Ethereum is good but right now it is out of reach for investment for people like me, it is too expensive now, i missed at when at the beginning of the year it was very low, i think Russia is the main reason why this crypto jumped this rapidly... by showing interest in adopting this system in Russia, should i invest in it right now, will it go up in the near future or is it coming down...
You do realise that you can puchase a small amount of ether (wei) to invest. i.e YOu can invest $10 day the same way you could invest $10 yesterday or last year.
Thats exactly it, Ethereum is seeing some major success but the people involved in this project are the kind of people we trying to avoid in the FIAT world, seeing people like Putin, JP Morgan, Intel and Microsoft get there fingers in this pie just tells me we'd be going in circles if we let ethereum take hold of position 1 on the market, on the other hand that's exactly what ethereum was designed for, large global companies so the fact that it's working speaks volumes in itself.