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re: Official CryptoTalk Thread

Posted on 2/17/21 at 2:29 pm to
Posted by rocket31
Member since Jan 2008
41884 posts
Posted on 2/17/21 at 2:29 pm to
an emotional response and a downvote from you, shocking lol

no one knows what will happen. eth is performing open heart surgery on it's entire ecosystem with undisclosed timetable to complete the switch.

I think bnb wins the space eventually, yea, but in most likelihood defi will be cross-chain.

Im not sure how long when this will all play out but CZ is much more savvy than Vitalik.

Posted by WG_Dawg
Member since Jun 2004
89409 posts
Posted on 2/17/21 at 2:32 pm to
Do you think someone holding eth should go ahead And sell or hang on for a while? Just your opinion, I know it's not professional advice and to make my own decisions
Posted by rocket31
Member since Jan 2008
41884 posts
Posted on 2/17/21 at 2:34 pm to
I think there is still big money to made in eth

but I also think there is bigger money to made elsewhere (this has played out like I thought since I brought it up a few weeks ago)

my overall point is that it should not be considered a long-term investment at this point. that might change
Posted by CE Tiger
Metairie
Member since Jan 2008
41878 posts
Posted on 2/17/21 at 3:05 pm to
quote:

downvote from you,


I don’t think I have ever used the upvote /downvote function
Posted by SUG
Member since Nov 2015
667 posts
Posted on 2/17/21 at 3:19 pm to
yea I am not worried about ETH its not going anywhere. would be nervous with that 2+ year lockup though dodged a bullet there
Posted by ChuckO1975
Member since Feb 2021
1292 posts
Posted on 2/17/21 at 3:40 pm to
quote:

Do you think someone holding eth should go ahead And sell or hang on for a while? Just your opinion, I know it's not professional advice and to make my own decisions



You didn't ask me, but I'll offer an informal opinion that in no way represents financial advice:

ETH cannot he considered a long term play because it has no definite pathway to becoming a platform for smart contracts. Could it succeed? Yes. I don't think it will, but it could.

That said, nobody is investing in ETH because of what it offers. They are investing because they want the price to go up. It will probably do that.

I would personally diversify gains from ETH into a variety of more promising protocols rather than sit on it like a coke stock or something.

On that note, you have to be prepared to follow these projects as they go. You could wake up one day to find yourself holding coins for a dead network with no recourse.
This post was edited on 2/17/21 at 3:41 pm
Posted by 21JumpStreet
Member since Jul 2012
14819 posts
Posted on 2/17/21 at 4:04 pm to
Why is it that almost every cryptocurrency i see it's something ethereum based. Would it be that easy for them to just pack up and leave once they realize this one is way better?

Crypto noob here, so I may just be confused af
Posted by SUG
Member since Nov 2015
667 posts
Posted on 2/17/21 at 4:09 pm to
you are not...ETH has 1st mover adoption and that is enough. not going anywhere but up with the rest of market
Posted by TigerTatorTots
The Safeshore
Member since Jul 2009
82029 posts
Posted on 2/17/21 at 4:28 pm to
TBH, I think that is the only reason ETH is at the level it is today. It isn't very easy to move chains, so like the poster above said, they have a strong 1st movers advantage. Otherwise, due to the shakiness of ETH 2.0, I believe they would have lost some projects by now.

Full disclosure, I still own ETH and haven't considered trading it over to BTC yet.
This post was edited on 2/17/21 at 4:29 pm
Posted by CE Tiger
Metairie
Member since Jan 2008
41878 posts
Posted on 2/17/21 at 4:28 pm to
quote:

ETH has 1st mover adoption and that is enough. not going anywhere but up with the rest of market


Exactly . There is very little development on all these Eth killers. You think people would be paying $200+ in gas if all these other chains were offering a better option? Chainlink is going to make Eth much more manageable with their Off Chain Reporting and threshold signatures
Posted by SUG
Member since Nov 2015
667 posts
Posted on 2/17/21 at 4:36 pm to
except for DOT, massive ecosystem already imo. not an ETH killer as there will be ample space for both but if you gotta label one a killer theres my chip
Posted by JayDeerTay84
Texas
Member since May 2013
9953 posts
Posted on 2/17/21 at 4:37 pm to
I think to think of the Eth debate like the AOL platform before google arrived.

1st mover advantage is a big deal. AOL still exists today and is doing well considering.

It just so happens something better came along.

ETH 1.0 has major flaws. 2.0 is "said" to fix these, but honestly, Cardano looks like it will have smart contracts out before 2.0 gets anywhere. Then you have the other competitors.

I dont think it is a zero sum game. I think ETH will be around. I think competitors will come in and take some share, apps will move, but I can see it existing like AOL, Yahoo, Google does today. We just wont know who the "google" will be. ETH 2.0 could fall on its face for all we know or be glorious.

This post was edited on 2/17/21 at 4:38 pm
Posted by CE Tiger
Metairie
Member since Jan 2008
41878 posts
Posted on 2/17/21 at 4:46 pm to




quote:

reminder : during the 2017 bullrun, ETH did a 25.6% dominance and XRP did 24.5% dominance.
This post was edited on 2/17/21 at 4:49 pm
Posted by ChuckO1975
Member since Feb 2021
1292 posts
Posted on 2/17/21 at 4:50 pm to
quote:

Why is it that almost every cryptocurrency i see it's something ethereum based. Would it be that easy for them to just pack up and leave once they realize this one is way better?



Well, ETH was the first attempt at a smart contract platform on a distributed ledger, and they were the first to sell pre mined tokens and keep the profits, so it attracted a lot of developers early.

Devs are moving to other, better chains every day. ETH dominance is not some permanent feature.
Posted by ChuckO1975
Member since Feb 2021
1292 posts
Posted on 2/17/21 at 4:51 pm to
quote:

not...ETH has 1st mover adoption and that is enough. not going anywhere but up with the rest of market


1st mover advantage isn't the end all,be all. Especially when your platform is broken.
This post was edited on 2/17/21 at 4:53 pm
Posted by ChuckO1975
Member since Feb 2021
1292 posts
Posted on 2/17/21 at 4:54 pm to
Agree with your position

It should be noted that actual usefulness and development doesn't impact token prices. If we based our financial decisions on that, Bitcoin would have died years ago.
Posted by rocket31
Member since Jan 2008
41884 posts
Posted on 2/17/21 at 5:34 pm to
quote:

ETH 1.0 has major flaws. 2.0 is "said" to fix these, but honestly, Cardano looks like it will have smart contracts out before 2.0 gets anywhere. Then you have the other competitors.

I dont think it is a zero sum game. I think ETH will be around.



right. so it would be logical to assume that the marketcaps of these projects would likely meet around the same end point eventually. which makes me think that others have a lot more to gain, for now.
Posted by CE Tiger
Metairie
Member since Jan 2008
41878 posts
Posted on 2/17/21 at 6:42 pm to
quote:

likely meet around the same end point eventually.

Unless it has no users. Binance is the exception because it built a user base and made their smart contract chain on top of the exchange. No one is using these other Eth killers.
Posted by JayDeerTay84
Texas
Member since May 2013
9953 posts
Posted on 2/17/21 at 6:57 pm to
Well Cardano is about to onboard people in Africa and if I am not mistaken Celsius App runs on it and singularity as well.

I’m invested in all of them and I’ve had much bigger gains in ADA.


ETH needs competition IMO. It’s a good thing. I’m not hating on it at all FYI.
Posted by Richleau
Member since Dec 2018
3961 posts
Posted on 2/17/21 at 7:39 pm to
Anyone interested in digibyte? It seems to be moving recently. Looks like a partnership with Microsoft as well upcoming. That and everyone’s favorite HUMBL.
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