Is Ethereum Doomed to Fail?
7 years ago in #cryptocurrency by louisthomas (76)
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Crypo-kitties are definitely not something I am very interested in, although I'm sure there will be a market for it, but when you look at project like Golem and OmiseGO, the future for Ethereum looks bright.
Just look at the new Golem promo vid:
What I find interesting is the lack of talk regarding Vitalik's recent tweet claiming he was taking a break from developing ETH and that he congratulates EOS. He quickly deleted the tweet a minute or so later.
EOS = A major holder of ETH tokens.
Ethereum has won every key metric of adoption besides market cap. Active addresses, daily transactions, number of projects, number of developers, exchanges. Just yesterday Circle announce an ERC-20 USDC (USD backed stable coin) on Ethereum. This is the largest funded bank backed venture at over $120 million, which is more funding than R3 received. Big Banks have already agree to accept the coin Circle announced. As Ethereum scales over the next year and next I believe it will be the largest most developed crypto currency in the world. Players like EOS should do well to. As developers have some advantages which high performance tps on EOS.
The long hold :O I don't know if I'd be able to wait for 2020 to see profits, but for Ethereum and from what you said, it seems to be the only choice in order to verify it's long-term rising value.
BTW, I haven't had internet for a whole week! I've been hanging on thanks to my mobile data plan but I couldn't watch your videos then. I was very interested in the Bitcoin one (what happens after all the coins are out and miners don't have any incentive to keep mining) and was yearning to watch it! So I'll be going for that one now. <3
Great to have you back Sharon. Missed your comments and posts
ETH doomed? As you said, let’s focus on third party apps using ethereum protocol and smart contracts at first. I’m invested in both ETH and EOS just for the competitive reason. I believe in both. It’s too early to talk about being doomed. It will take at least until mid 2019 or longer years until all these projects really kicks off, as you mentioned. Since it’s recent lows ETH actualy outperformed most cryptos. I say “Patience! Patience! Patience!”
Maybe
But ETH does have the advantage of massive community support and a great team.
Ethereum recently had scalability issues and its price fell more than I expected, the change from POW to POS looks very interesting. Ethereum has a lot to show yet.
Doomed to fail sounds to apocalyptic, I'm not too bullish on ethereum since they have a lot of technical hurdles to solve to get their network up to speed since they are running with a backlog of unconfirmed transactions but bitcoin is on the same spot right now, in fact all of the chains from the first few years of crypto are in a huge need of technical upgrades to be able to survive and stack up to the likes of Steem when it comes to transaction speed and cost!
No. As another answer mentioned, there are ICOs being created using Ethereum every hour. Additionally, upgrades to the Ethereum network are being implemented as we speak . Finally, Ethereum is moving from PoW to PoS relatively soon.
I really hope ethereum does not fail. Gosh, this is me talking from my own point of view anyways, because i have some ethereum in my wallet and would not like to see the value fall.
It is really struggling. Transaction traffic on Ethereum is painfully slow due to ever increasing ICO traffic, much of which Ethereum itself admits is fraudulent.
Considering security also, the Ethereum community is hugely divided. ETH actually has no real-world use cases.
If ICO traffic is ethereum's problem, I think they should resolve it quickly. Maybe creating an ether fork ie an alternative for these ICOs to get attached to might resolve the problem. What do you think?
Ethereum has different attraction to me than apps. Ethereum is the enabler, the main ingredient, the catalyst for so many other cryptos.
Scaling solutions would come soon enough into play and improve an already good situation.
As you mention the future will bring 'killer apps' on the platform as well. No reason to worry because we all recognize the fact that good projects would take time to be implemented.
Based purely on technical analysis it's holding up better than bitcoin this week.
On the fundamentals side of things it's a better currency than bitcoin as fees are lower and blocktimes are faster.
It also has EOS and OmiseGo running on it's network as well as a decentralised exchange https://idex.market/eth/aura which is currently the number one dapp in terms of both transaction volume and monetary amount.
Agree with you that Ethereum’s main purpose at this point are the ICOs on the ERC-20 protocol. Considering the billions of dollars raised so far, it demonstrates the potential of the decentralized platform regarding bringing traditional centralized ideas to a more efficient platform. More Dapps would look at this potential to build upon it.
Ethereum has a lot to do, a lot of field to cover and it will take a lot of time for thier up gradation, the money transfer is very slow. They have to resolve numerous problems.
Great topic.. @louisthomas.. Anyone currently investing in ETH simply can’t be in full control of their own mental faculties.. ETH is struggle but don't worry .. be cool .. Hope that it will come back...
And to solve them hand over all our power to a centralised banking or political entity". Yeahhh right. We need to grow up and learn that life is about managing risk.
In tech developments it is often the case that you do not end up building what you set out to. The ETH team set out to build a functioning smart contract platform that would disrupt, among other things, the current financial industry. When judging the success of ETH allowances have to be made for the fact that the ETH project is still a work in progress and that scaling solutions are in the road map and have not yet been deployed. However even if ETH fails as a smart contract platform there is no doubt that ETH has very successfully disrupted the capital markets via the ERC20 token ecosystem.
Those who fear failure do not succeed
Very great tips really well posted my friend
I wish you all the best
Very special video really done well
Hey, @louisthomas 100% agree with this video. So many people are getting into this space and expecting massive news (and price spikes) every single week. Too much silly "lambo" and "moon" talk. We all need to show more patience and actually spend the time to learn about these projects.
Most people are taking out their investments from Ethereum and investing in other coins.
Ethereum is really struggling
Etherum is never dooms to fail just like other crypto currency, I believe crypto coin has a desirable future just like we are here on steemit now our future lies in the evolvement of crypto currency. I heard Peter opinion on this. It is really awesome.
With the coming on board of Eos I think ethereum will not survive for a long term ,because Eos blockchain wallet has better features than the eth E20 wallet and also Eos has a better scalability and can handle a lot of transactions per seconds compare to ethereum , this will surely make many application to move away from the ethereum blockchain into Eos . Which will surely leads to ethereum downfall @louisthomas
@ned said in one of his comments on @nairadaddy’s post that we’d be disappointed by ether blockchain and I believe ethereum is the major krypto currency there. Speculations have it that ethereum would fail
I do not think Ethereum runs balanced with bitcoin even though its price loses with bitcoin,
But now Ethereum is struggling to gain trust,
What?? Not a Chance!
What about TRX? The main net is almost out. TRX solves the scalability problem with ETH, even though it may not be the problem right now. TRX's fees are practically nothing as well.
100% agree with this video. So many people are getting into this space and expecting massive news (and price spikes) every single week. Too much silly "lambo" and "moon" talk. We all need to show more patience and actually spend the time to learn about these projects.
Despite the movements of Ethereum is still strong that should not be forgotten along with the trust generated and the great community that supports them, I think there are still several cards on the table to play.
There are special apps that the comment members have to discuss about this issue and I think that you have discussed the cryptocurrency constantly and are trying to tell about these things. It is very knowledgeable content and you have discussed an important topic. If we take the right action about this matter, then we will have to Good luck!
A very good post @ louisthomas, this is very useful for everyone, and especially for myself. I think Ethereum will not fail, because I see, Crypto is now growing, and very many people support Crypto, I can only predict it, because we can not guarantee, if Ethereum will fail, chances are very small. Thanks for sharing...
Discussing important topics as you discuss every time cryptocurrency, the content of each of your discussions is very beautiful. I think the topic you discussed is very important and this community member should be aware of this.
Talk about effective topics and what you have said is a very important thing and this community members should continue to carry out appropriate activities on this issue.
I think Paul will be with him. I think this is a good bet. I agree with this recommendation @louisthomas
I really hope Ethereum gains more traction so to generate more confidence in cryptos. We can afford crypto currencies crashing down anyhow. Thanks for the info
Ethereum is also one of the respected coin in cryptos world, it rank number 2 after bitcoin, the market. CAP is appreciable and ERC20
I agree @louisthomas.
Way too early to stick a fork in anything in the cryptocurrency world outside the scams and garbage projects that were deemed to fail from the beginning.
ETH is not my favorite token although I do hold some. There is upside in it because, as you said, the development is just starting. People need to give it some time.
ETH will be one of the main public blockchains going forward. The leading blockchains will have the development.....and ETH will have that.
I will be featuring it in my weekly #technology and #science curation post for the @minnowsupport project and the Creators' Guild! The @creatorsguild is a new group of Steem bloggers and content creators looking to improve the overall quality of their niche.
Wish not to be featured in the curation post this Friday? Please let me know. In the meantime, keep up the hard work, and I hope to see you at the Creators' Guild!
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You gave a really good answer to the question, well done with that.
As a team developing an RTS game that will run with the Ethereum Blockchain, it's been really clear to us that one of the biggest issues with Cryptocurrencies as a whole is the lack of patience and lack of development understanding from the 'investors' and that's a problem that almost all projects seem to be facing. Too many people want a return on their investment ASAP - without fully understanding what is being built.
The 'killer' dApps are the ones that will take the longest to develop, simply because (as you very rightly put) they need time to be coded properly - and then tested to make sure that the code is safe and secure.
So to anyone that feels that Ethereum based projects are not developing fast enough, give the developers a chance! They need the time to make sure that their platform is safe!
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