Ethereum's only use case is issuing ICO's

[thejaytiesto]

Ethereums only actual real use case thus far has been issuing ICO's. Billions worth of ICO tokens have been deployed by Ethereum's smart contracts.

Now imagine what would happen if governments really banned ICO's... I don't see how Ethereum wouldn't suffer from a massive crash.

Bitcoin would probably be fine, except the same idiots as always that sell at any headlines containing ban+crypto/bitcoin would also dump, but it would quickly recover. Ethereum... not so much.

Let's hope this was it for Bitcoin and we are going back to $5000 now, double bottomed and it's going up. Hopefully not heads and shoulders formation with further drop, that would suck.

[injoin]

Ethereums only actual real use case thus far has been issuing ICO's. Billions worth of ICO tokens have been deployed by Ethereum's smart contracts.

Now imagine what would happen if governments really banned ICO's... I don't see how Ethereum wouldn't suffer from a massive crash.

Bitcoin would probably be fine, except the same idiots as always that sell at any headlines containing ban+crypto/bitcoin would also dump, but it would quickly recover. Ethereum... not so much.

Let's hope this was it for Bitcoin and we are going back to $5000 now, double bottomed and it's going up. Hopefully not heads and shoulders formation with further drop, that would suck.

The Etheruem = ICO Maker is only relevant to the Homestead version. Ethereum still has two more version updates left. It is impossible to judge Etheruem with the present standard. State regulations have just begun. There will be more and more regulations in the future. It is quite hard to determine the value with the current situation.

[MV7]

I'd wait for the fork that's expected to happen at the end of September to see what happens with ETH.

[Prodigan786]

It was the most sensible post I seen in BCT in recent time . Even i am also having same perception like you i dont see any other use case in Ethereum apart from smart contract creation . Waves is another competitor of ethereum but they  introduced leasing , DEX apart form Smart contract creation .

[anon4250158]

Ethereum has a lot of potential, and some of that will be realized in upcoming updates.  The large number of ICOs is very similar to the altcoin explosion back in 2014.  People thought making their own coin/token would make them rich quick, and in some cases it did.  In some cases it was a scam.  And in other cases, we got long-term coins with actual value.  Personally, I try not to look at new tokens as a get-rich-quick scheme, but judge them on their merits and whether they will actually be useful in the future.

[sjbi]

It seems so.
Ethereum is the currency for the Ethereum token platforms and it's price rise is largely due to people buying tokens using Ethereum.

[Kanapka]

Yes, biggest use are tokens, but can't tokens be used for other things too?

[BTCLovingDude]

that has always been the scariest part when investing in ETH! its price is only depending on ICOs and if anything were to change it would take a huge hit.

and it is not just countries banning ICO. there are a lot more that can change.
- when ICO creators start dumping their ETH coins to get out of the market
- People will eventually stop believing ICOs and invest in them the same way they stopped investing in any coin that has a premine
- another DAO happens!
- someone finally uses one of the better smart contract platforms and creates an awesome one with them so others will also switch over.

[dukemc]

Ethereums only actual real use case thus far has been issuing ICO's. Billions worth of ICO tokens have been deployed by Ethereum's smart contracts.

Now imagine what would happen if governments really banned ICO's... I don't see how Ethereum wouldn't suffer from a massive crash.

Bitcoin would probably be fine, except the same idiots as always that sell at any headlines containing ban+crypto/bitcoin would also dump, but it would quickly recover. Ethereum... not so much.

Let's hope this was it for Bitcoin and we are going back to $5000 now, double bottomed and it's going up. Hopefully not heads and shoulders formation with further drop, that would suck.

Ethereum has lot of more use cases but the ICO Scene use it cause its not so difficult to program an ERC20-Token and an smart contract to work with the blockchain. But others have done ICOS with NEO and NEM XEM. The use cases of ethereum are widley spread.

[Filmmmakerr]

By the time governments bans ICO's there will be new use cases for Ethereum.

[VFabio]

Ethereums only actual real use case thus far has been issuing ICO's. Billions worth of ICO tokens have been deployed by Ethereum's smart contracts.

Bro, it's not issuing ICOs, it's providing smart contract technology and facilitating its use - and that's insane!

It makes it the father of digital assets imho. You're presenting it as if smart contracts were useless

It's the people issuing ICOs, not Ethereum... That kinda proofs the demand.

[clickerz]

It was the most sensible post I seen in BCT in recent time . Even i am also having same perception like you i dont see any other use case in Ethereum apart from smart contract creation . Waves is another competitor of ethereum but they  introduced leasing , DEX apart form Smart contract creation .

Very sensible indeed, and its a challenge for Ethereum I think. As of now, I slighly agree with OP. Most of the Tokens comes from ICO's and we will see next year of this ICO's who is successful that their investment is worth or having a good return, develop a tangible products and become profitable etc.

[lidd0512]

why so many ico use eth as their ico token rather than any other coins .just because of the mature of eth?
fortunately,i see some ico use neo,waves as their ico token,thats a good start.i hope more and more coins would be the ico token instead of eth.

[CuriousGeorge]

Why so many haters are attacking the ethereum? With so many good things alreayd proven by ethereum and it doesn't make sense to judge the ethereum. ethereum as the payment of transaction and that was not different with the bitcoin as your main coin. 

[Specterminate]

the likelihood that all countries in the world simultaneously ban ICO's is zero to non
If one country bans them, projects will move to another. And it makes economical sense for a country to allow ICO's

[Apened]

Ethereums only actual real use case thus far has been issuing ICO's. Billions worth of ICO tokens have been deployed by Ethereum's smart contracts.

Now imagine what would happen if governments really banned ICO's... I don't see how Ethereum wouldn't suffer from a massive crash.

Bitcoin would probably be fine, except the same idiots as always that sell at any headlines containing ban+crypto/bitcoin would also dump, but it would quickly recover. Ethereum... not so much.

Let's hope this was it for Bitcoin and we are going back to $5000 now, double bottomed and it's going up. Hopefully not heads and shoulders formation with further drop, that would suck.

It is good thing that we need to think on , i do agree because first the ethereum is the base of all this kind of ICO and more ICO's started to exploding by using ethereum platform and talinking about bitcoins i think we are ready this december for $5000 i have a strong feeling that it will be as this month.

[gedor]

It's true for now but I don't think government will ban ICOs.  They only prohibit projects from cashing out their ico funds by don't let them opening a bank account.

[shirokumo]

Even Vitalik admits there's an ICO bubble, so government intervention would be good in the long term:
https://www.financemagnates.com/cryptocurrency/news/ethereum-founder-vitalik-buterin-ico-bubble/

[alloy_token]

I believe DAPPs would be the apt term. ICO is just a type of DAPP and a subset of if. Unfortunately that all we mostly hear in the public but there is so much potential unmined. With the Ethereum hard fork upcoming, you can expect this to go up considerably.

[HashFace]

I don't think ICOs will ever be banned ... they will just be regulated, and in places like the US, it will likely go to a "accredited investors" only mandate, like so many other investment opportunities have.  I personal hate it, but that is how it goes in the US.  I think other countries will follow and it will soon be another case of the rich getting richer.  

Filecoin just raised $250 million through accredited investors, so ICOs are not dead if they get regulated, in fact, regulation might draw more money from the crowd that has a lot of money to blow, but isn't comfortable throwing it into an unregulated arena.