Bitcoin Forum

It's getting pretty hard for anyone to make the case that Ethereum isn't a giant bubble. What makes this coin worth a billion dollars?

Your question will be answered next month when it reaches $2bn

I have no idea with the movement of this coin just a week ago the price is going down and investor got a panic selling of this coin but right now it is going up again I guess a big balloon is waiting again to pup up I'll carefully watch this thread.

A bubble getting twice as big doesn't answer the question as to why the bubble has value in the first place. As far as I can see, the only value the coin has is the perception that other people think it will increase in value. That's a bubble.

he was just making the argument for you.  there is no doubt its a bubble, but as to when and where its going to pop, only the guy holding the vast majority of the coins knows.

Really? That's ALL you can see? The fact that doors that bitcoin is unable to open are being flung open wide for ethereum does not add value? The fact that governments and institutions that have no interest in bitcoin are investigating what the ethereum blockchain can do for them, and already committing serious resources and building apps in-house doesn't add value for you? (before you refute, be aware that I work for one of them)

So I ask you sir, what should add value?

Perhaps I misspoke. I'm not saying adds zero value, I'm saying it does not create a billion dollars of value. (Opinion, obviously.) This appears to be a hype cycle, the same as bitcoin went through. This is the point where people get swept up in the fuzzy and undefined future possibilities and push the price to an unreasonable level.

And I don't understand a great deal about how Ethereum's blockchain is different from bitcoin's, so I'm asking for specifics about what makes it worth a billion dollars. I'm glad you actually work on the issue directly, because this will give me an opportunity to ask of you some specific questions to help me understand how this isn't a giant bubble:

1) Why is Ethereum's blockchain special?
2) What real-world uses do you see people using it for?
3) What governments are investigating and committing serious resources to Ethereum specifically?
4) What would an Ethereum app do utilizing a blockchain that makes it useful, and in a way that makes the blockchain a necessary component of it?

i am sure of one thing now. ETH is being pumped.

there must be some shenanigans going on, in exchangers especially Poloniex that is pushing the price up because nobody is buying eth because of its features.

I hope nobody here believes that cause the bitcoin was first it will be always the first  :D
New tech and new markets are coming  ::)

This bubble was very surprising for all probably are panic buying. The trading-bots must be returned crazy.

The coin isn't worth a billion dollar on the first place.It's the market capital and that too considering the highest price possible.If someone dumps only 1% of the supply then the market capital will drop by 50000% or even more and wouldn't be more than a million dollars.There isn't that amount of money in it.No Fluid.

yes you right,Etherum have good developer and now the market up to i bilion,i dont mind if this will happen,and now i dont have any Etherum,shitt.

I don't know about anyone else, but I'm not representing that bitcoin was first therefore will always be preeminent. I'm just asking for some justification for this bubble.

It's pretty obvious that I'm talking about market capitalization, and that market capitalization is what matters. And a coin cannot drop in value by 50000%. Once it drops 100%, it's worth zero.

If you wanna punish these big players for fooling you and back then to which you bought coins from the past and suddenly made you lose more? then don't fall to this coin pump.
Teach these fools some lesson that we newbies  are smarter now, let them fund the coin until they give up and lose huge amount.

It's the biggest bubble crypto has ever seen.  When Bitcoin was a billion market cap, people were at least using it for things like silk road.  Eth has no actual purpose and the coin isn't commercially viable because the load capacity will be absolute shit without partitioning and 1)  they can't make partitioning work 2) partitioning defeats the purpose of redundantly executed code in the first place 3)  They don't even have a viable consensus mechanism either!  This is the biggest scam crypto has seen so far.

There is big Ethereum community in this forum. There are many threads about Ethereum. So you have a lot to watch.

I see the guy who was such an Ethereum expert never came back to justify his position or answer any questions. Doesn't lend very much credence to the notion this isn't a massive pump.

This flawed garbage is deflating just like every monthly new paradigm. It's tiring.

Bitcoin is compared to the gold of the internet and has already higher volatility than any physical commodity ( actual oil). So think of ETH wants to be the gas of internet, that vola must be factors higher... And looks like it is.

Apart from Eth still being totally flawed overtechnical dung, gas of the internet is absolutely one retarded term.

In june:   "Ethereum is a 3 billion dollar bubble"

Why is any of this stuff worth anything?   Figure that out and you'll have the answer to why eth is a billion market cap.

Ethereum has a more complete scripting language than bitcoin.   These scripts that live on the blockchain can keep Ethereum and can give up some depending on logic stored on the blockchain.   It would be useful for insurance for example.   See the Ether Review on Let's Talk Bitcoin.

sdp

This is the first bit of useful information anyone has been able to tell me about it. Now though, what would make this more useful than handling insurance the traditional way? What exactly is the revolution here?

Not nearly the same. Bitcoin is a revolution because it proved the functionality of decentralized currency and has greatly reduced the cost of value transfer. Every alt coin that is a derivative without adding utility is just a pump seeking to capitalize off what bitcoin accomplished. That doesn't answer why some are bigger bubbles than others, but it seems to me that Eth is one of the largest bubbles in crypto. I've just been trying to find out if there was a legitimate revolution Eth has accomplished that people are then blowing out of proportion, or if it's just pure mania.

Don't know where is the floor, but I hope histories like the guy that mortgaged the house are just trolling:

https://bitcointalk.org/index.php?topic=1388566.0

Not even evolution there. To no surprise, it's still handled the traditional way.

I think the project has great potential, but the guys are going much more for hype than for results.

Every coins has a potential but the users of ETH made a big hype about it and look what they have done to the coin,its going landslide.
They wanted the coin to be able to compete bitcoin but it really cant as it is still young.

Selling all the ETH will never net $billion. Maybe $10 million before the price is near 0 due to the selling.

Market cap is a misleading metric.

More relevant is volume, except we have no way to know what percent of the volume is real versus insiders buying from the themselves to pump the price and volume up.

https://bitcointalk.org/index.php?topic=952619.msg14273230#msg14273230

wbb already ahead of eth and list development

esp when you see eth pump was mainly rich whales using their big btc and bots to pump it up on useless news.  sad.

It seems the bubble is deflating at the moment. The price is dropped to 0.025 now. The volume is also high.

ETH needs a healthy correction before it can go up. Even at 0.025, the price is too high and not many people are buying. Sooner or later, some ETH bagholders who got this coin from ICO will become impatient and dump causing huge panic. ETH may go to 0.015 if this happens.

I thought most of the ICO coins have been sold. The volume in the last 6 months is many times of the ICO.

There is good evidence that it adds negative value to the typical end user. It certainly is a very expensive way to run cpu cycles for no good use cases as of yet.

It is at a billion dollar because thats what market feels. Currently crypto is only worth its speculative value, and if the market favours Ethereum then so be it. Personally, I didn't expect this and was shocked by the rise.

Surely no alt coin will be as big or bigger than Bitcoin right?

That is surely impossible right?  ::)

If after further developments and Ethereum becomes a solid platform, then the price will be even higher.

Yup I keep hearing this over and over, face it Ethereum is something and I wouldn't doubt it if Eth grew bigger because of the market it targets, unlike Bitcoin and the dev team.

Yeah because how much ETH are actually traded. Right.

There seems to definitely be an element of pump and dump surrounding the recent price moves although this is probably not the full story.The majority of trading volume comes from Bitcoin to Ether, more the number of users,more the price increases

The press (all good) is non-stop for ETH and coming from many big sources (NYTimes).  I think the hype is what is worth a billion dollars.  How the heck did Facebook buy WhatApp for 2 billion dollars??  New technologies that get everyone excited seem to bubble up fast. 

The price of Ethereum will go up a lot from here after a few months of consolidation. New Dapp will come out later this year.

WhatsApp has proprietary IP, Ethereum is open source with a very small userbase unlike WhatsApp. The two are completely un-analogous.

The interesting thing that confronts the ethereum ecosystem is that it is only supported by Hopium(tm) with no practical use cases where the ecosystem has a much higher level of inflation than bitcoin(Eth inflation relative to bitcoin soon to double as well) and has to support development by selling off premine directly unlike bitcoin.

The great hope that warms the cockles of young hopeful gamblers is the promise that inflation will eventually be brought down to a yet to be announced level of 1-5% once PoW is discarded. This presents a double edged sword as it removes any distinction from clones and allows more secure clones to sell script fuel(yet to find a use case) for much cheaper. It is no surprise that Ethereum Fans like Nick Szabo want Ethereum to keep PoW.

Either way this is an insurmountable dilemma that the ethereum community must face up to. Good luck.

Bubble or not, it is now widely known and taken seriously in the crypto community, just see the number of Ethereum topics on the first page of this board. This is the sort of recognition which will help it in the long run.

It is here to stay. Even if it retraces 70% that is still a huge market.

No doubt it is here to stay, just like 99% of all other alts like paycoin. It may bubble up again but in the long haul I expect it to slowly capitulate and remain one of many "turing complete" blockchains that is used for testing and some unique and yet to be determined limited scenarios. I wouldn't be surprised if this bubble is the highest anyone will ever see it.

Being Turing complete is somewhat of a marketing gimmick and not necessarily a "good thing" . Certainly not something you would ever treat as a currency , and extremely questionable if being used as a very inefficient script fuel will every have a place. The only thing i can perceive as a potential use case is cross atomic swaps but than again this can be done with cheaper more secure clones or sidechains secured by the btc blockchain , or other technologies like bitsquare.

One of the large warning signs is the amount of shill accounts pumping eth and the amount of spam occurring pumping eth indicating a contrived and formulated pump instead of natural growth.  

People used WhatsApp.

Exactly, unlike the circle jerk of a few Eth developers dreaming about the next DAPP which in reality won't solve any use cases -
What happens when someone actually tries to use these dapps-

https://www.youtube.com/watch?v=_90Y8mw_HVY

You can't help but to laugh at these fanboys. KeepDoing? Lol

It will take some time for the DApps to appear and to be made perfect. We just need to be patient.

There is no way ETH can beat bitcoin. Remember this is bitcoin's playfield.
At best ETH can try to compete with ripple. That's the max.

Ripple was and is a joke, not even close buddy.

Ripple was a joke and ETH has some great potential. Same as Bitbay en stellar. But now the pump is over so it's time
to wait and see if the developers will deliver.

That is right. The price has risen almost 20 folds. The developers have delivered Homestead, we need more.

Right now this seems only a pump to me. I am a aware ethereum has some good technology behind it but the current price doesn't relfect it.
It is like your daily pump and dump coin.

The developers are actually developing.  ;)

Ehtereum could be a big bubble. But it is being deflated at the moment. If there is good development, the price will rise again.

that is right.
a lot of other coins have come and gone and they were all had claims as big as ethereum and even bigger. just last year there was another coin just like this (i don't remember the name) but they were all like this is going to replace bitcoin and surely it is worth nothing today.

I too was on the camp that ETH was a obvious bubble
The price held up nicely https://www.coingecko.com/en/chart/ethereum/usd
im looking for a stabalization here, it can go anywhere from here. now that there is a selling pressure

The selling pressure is quite high at the moment. The price dropped 10% from yesterday. Maybe it is normal.

For the time being, it could be a bubble. But when the price stay around here and there are more developments, it will change.