Why is Ether so popular, despite its infinite supply?

[bestluck]

I think Ethereum is getting popularity because of it frequent price increase and people are of the view and have heard that ether is goin to increase in value and so they start to buy some amount of it and so with that the price increase more. But the people should have to know that price is going to fall down deeper whenever the halving and price increase of bitcoin is started.

[-ck]

Bitcoin has miners. The miners have 1.2 Exahashes of cryptographic hashing power just sitting there, mining useless problems for bitcoin

Now think about ethereum. You are mining for ether, that's correct, but this mining power is going to be used. Be used to host and process problems for other people. Isn't that more practical and useful?

That distinction is not as clear as you make it out to be. Bitcoin miners mine transactions into blocks.

[Wapinter]

before i buy something with an infinite supply, i would rather buy gold or a stock.

Thats right.If something has infinite supply,it losses its value and eventually become useless.I think Eth market is being manipulated by some big whales by creating fake hyip to attract noob investors.

[diodio5]

before i buy something with an infinite supply, i would rather buy gold or a stock.

Thats right.If something has infinite supply,it losses its value and eventually become useless.I think Eth market is being manipulated by some big whales by creating fake hyip to attract noob investors.

it might happen right ? because altcoin very prone to price manipulation? people which has bitcoin above 1000 BTC was able to manipulate prices in the market altcoin. so i hope you remain cautious against etherum.
and do not be too greedy to buy many eth it is too risky

[LiberOptions]

You can't actually say that Ethereum has an infinite supply. The PoW is still going on and it will continue for about a year or so. After that it will become PoS, meaninig that the stakes will be issuing new coins, however this suplly cant really be considered has infinite...

[MingLee]

Ethereum is popular because of the prospect of applications and various other similar media being a form of value generation, and a lot of cryptocurrency users have computer science backgrounds, or some form of higher education.

There are also the investors and speculators that really try to push it as being the next big thing, so that has an effect on the value of the currency, along with all of the people on forums like this trying to pump and push ETH even though the value is routinely failing to perform and is often left to decrease and collapse after a large buy-in.

[biggbox]

I think that the Ethereum project is gaining so much attention because it was never meant to be a mechanism to store monetary wealth and never meant to be a bitcoin alternative.  The platform is attracting a large base of innovative developers due to its potential to support applications in a decentralized manner.  Decentralized applications running on a distributed ledger opens up possibilities only limited by our imaginations.   

EDIT: Whether or not it will succeed is another question....

So Ether has become a huge decentralized SaaS and developers and organizations have to pay an unknown amount (since prices varies) each month to use this service.

A middle layer is still needed to convert fiat to Ether to use the applications that are backed by Ether. Unless this middle layer has matured, Ether won't get out of the euphoric phase.

[VanDeinsberg12]

Gold s infinitive as well, at least in our lifetimes, yet, the price s stable and even going up. Why?

Is gold infinite supply?

The supply of commodities such as crude oil is finite but it is dependent on oil producing countries how frequent they want to dig up this resource.

For ether, it is unlimited supply but the variable here is the difficulty which will make it harder to get it.

Well I mean yes and no, Gold is a finite supply on earth but in 1000 years (which honestly doesn't seem too far out in the total scheme of mankind) there could easily be an infinite supply if there is profit in mining it in space. It sounds totally crazy but gold has been used for a few thousand years and it is wealth to us, but in 1000 years we could definitely have a decent space travel and mining of metals from all over.

Sure, because gold value on every century is very stable, I think gold well be the main currency in the earth. Many developed countries try to searching gold from various way because gold will become a very good investment for long time . my opinion gold it's not infinite supply but there are many gold in earth but it's very difficult to search them.

[7788bitcoin]

At the moment, I think most people do not understand what ethereum is for- only the few highly intelligent people. For me, the infinite supply is sufficient to put me off buying ether. However, it is something very interesting and let's see how it evolves.

[glendall]

ETH has a lot of good things going for it and is a really cool coin -- err, token. Internet fuel, or whatever.

That being said I think the prices it has been going for are pure crazy.  1 eth should not be selling for 0.027 btc right now, it's totally wild. 

I think a reasonable price would be somewhere around 0.006-0.009 .  That being said, even after its last big dip, it went right back up to high 0.02's so I guess that's just the going market rate for such high demand and promises. 

Personally, I've been unloading ETH as soon as I get it. Besides regretting the 30 or 50 or so I sold at 0.015, I've been happy to sell it as soon as I get it.

(That's fine if you don't agree with me, just my two cents.)

[Gleb Gamow]

Ether is popular because a lot of people don't understand the big question marks that this technology has. I remember once upon a time, how NXT was "taking over" with their revolutionary PoS and their decentralized exchanges and all that cool looking wallets. This is the same all over again. A lot of people and hype involved, sooner or later it will correct where it belongs, but it may still pump a lot higher, so maybe it's a good idea to take a position to short the thing and get some BTC out of it.

Putting your assessment in perspective:

[The_prodigy]

I think ethereum control by devs and i heard this is a scamcoin and this is not the good place to promote those altcoin because this is bitcoin discussion not ethereum discussion.. For me ethereum is not popular they are complaining to ethereum because devs are experimenting the price of the market in yobit thats why the price there now is high.. but sooner ethereum again will down back to 0.005..

[aso118]

Possibly because people don't understand it?
It is easy to get sucked into hype.

[cpfreeplz]

Gold s infinitive as well, at least in our lifetimes, yet, the price s stable and even going up. Why?

You do know that there's a finite amount of gold on earth right? That was a incorrect statement. If you're talking about the universe (maybe gold is on a meteor flying by??) then there may be an 'infinite' amount in that sense.

There is less and less gold being found all the time just like how Bitcoins are halved every 4 years, but more of a natural process.

Also, gold is considered stable by you, but it does also fluctuate. It's also been around for THOUSANDS of years. Really terrible analogy tbh.

[Sir_lagsalot]

Ethereum is extremely popular because it is bitcoin with it's flaws rolled out. It harnesses the hashing power of the miners, and uses it for something practical. I've personally purchased about 1 btc of ethereum, and i'm already up 0.2!

[fenican]

Seems like a ponzi where the early "investors" are now benefiting from a flood of hype crazed newbie investors dazzled by "pump and dump" appreciation.

We've seen that pattern 500 times on the other Alt coins. Always ends badly.

[mookid]

Seems like a ponzi where the early "investors" are now benefiting from a flood of hype crazed newbie investors dazzled by "pump and dump" appreciation.

We've seen that pattern 500 times on the other Alt coins. Always ends badly.

The other altcoins don't offer things that even Bitcoin can't do. Ethereum provides a full development ecosystem, a Turing complete language, and a healthy development team.
The inflation rate will be low, and its mandatory because ultimately, Ethereum is a computer that runs contracts in exchange of ether.

[Babayega31]

Seems like a ponzi where the early "investors" are now benefiting from a flood of hype crazed newbie investors dazzled by "pump and dump" appreciation.

We've seen that pattern 500 times on the other Alt coins. Always ends badly.

The other altcoins don't offer things that even Bitcoin can't do. Ethereum provides a full development ecosystem, a Turing complete language, and a healthy development team.
The inflation rate will be low, and its mandatory because ultimately, Ethereum is a computer that runs contracts in exchange of ether.

Its trend now because it has good system unlike any other crypto and it is choosen to be mine by the miner because the block is not difficult to mine and so on its very profitable for miners to mine for this coin unlike bitcoin have diffuculty of blocks and same for others alts are not valuable.

[Bitcoinpro]

Seems like a ponzi where the early "investors" are now benefiting from a flood of hype crazed newbie investors dazzled by "pump and dump" appreciation.

We've seen that pattern 500 times on the other Alt coins. Always ends badly.

The other altcoins don't offer things that even Bitcoin can't do. Ethereum provides a full development ecosystem, a Turing complete language, and a healthy development team.
The inflation rate will be low, and its mandatory because ultimately, Ethereum is a computer that runs contracts in exchange of ether.

Its trend now because it has good system unlike any other crypto and it is choosen to be mine by the miner because the block is not difficult to mine and so on its very profitable for miners to mine for this coin unlike bitcoin have diffuculty of blocks and same for others alts are not valuable.

Juat admit u have no idea wat ur talking about

[Divinespark]

ether is not a ponzi scheme. it is at this moment in time a better system of advanced smart contracts than btc, although we will have to see how they master scaling challenges ahead, again much like BTC
Some of the experiments are pretty cool