What's up with Ethereum?

[xiboothrezi]

In my opinion, this is a domino effect. Take a look, it's not only ETH, but most of the highest ranked altcoins experience the same thing, right? One of the most basic reasons is that the price of BTC has fallen dramatically since the end of 2018, which has caused confusion and various bad speculations to circulate. So many investors and holders decide to secure their assets and sell most of their cryptocurrency.

[Visbay]

I think that at this time ethereum is still silent and there are no signs of price increases, ethereum is still very calm but when bitcoin can soar high and market conditions are good then ethereum prices can also be rebuffed and will increase prices.

No not really I do not agree with this because according to my nowadays ETH is getting better and improving after few months it will become fully announce in the market as a well-developed coin but yet it's on the way for it. I personally after bitcoin trust only ETH because it has the ability to give us profit. So now is great opportunity for ETH lovers to buy low.

[White Christmas]

It's true that the ethereum is kind of in a hibernate right now since when the year 2018 comes it is in a hibernate so its kind of hard to predict in what will be happen to rthereum. But right now due to the so much hard fluctuating of the bitcoin in which affects the altcoins and ripples, the other coins is going pump up and rising also because of the help of bitcoin.

[crossabdd]

this is just my thinking. there are currently too many ICOs using an eth platform that is not perfect. even a lot of fraud using the eth platform. so many investors go and look for a transition. I think investors went to IEO and chose BNB to hold. So that investors release their ethereum and keep prices down. Another factor is that the altcoin session dropped making Ethereum unable to survive and stable at high prices.

[2ether]

Do you have an opinion on how China can affect ETH and cryptocurrency in general?

[Tungsten-1]

The price of ethereum is no still being manipulated. An update should bring great influence on its price. Nothing has been heard from the team pertaining the planned update, but when that comes, there will definitely be a growth much more that it had at the last ATH.

Though updates bring interesting changes in the project but the price of ethereum is not solely dependent on this update. We all know that the prices of bitcoin have sheer affect on the values of all other altcoins whether it is as popular as Ethereum or any other altcoin. What I am expecting is that in the coming days as bitcoin is showing improvement in prices, ethereum will also start pumping.

[Bim abk]

The price of ethereum is no still being manipulated. An update should bring great influence on its price. Nothing has been heard from the team pertaining the planned update, but when that comes, there will definitely be a growth much more that it had at the last ATH.

Though updates bring interesting changes in the project but the price of ethereum is not solely dependent on this update. We all know that the prices of bitcoin have sheer affect on the values of all other altcoins whether it is as popular as Ethereum or any other altcoin. What I am expecting is that in the coming days as bitcoin is showing improvement in prices, ethereum will also start pumping.

to wait for the price of bitcoin and altcoin pumps simultaneously will be difficult, then better see the price of the pump first on bitcoin later if the time is right then altcoin will follow the pump. therefore I am still waiting for the peak pump from bitcoin, hopefully this trend continues

[Kay94]

The market is dull at the moment and prices of alternative coins rise and fall each and every time. However, I believe the price of ethereum will soon rise once the crypto market recovers.

[fuer44]

all coins in the market are experiencing the same thing. it's been almost the last 2 months the market looks stable and I think this will last until the end of the year. there is no sign of the pump yet, but we can expect that the market will be pumped in the first quarter of 2020 and will experience its peak in the middle of 2020. I think etherum is okay, and everything is almost normal as the crypto market.

[dnprock]

I think Ethereum and crypto in general are stuck. Bitcoin has settled into digital gold. Ethereum has not found its use case. Its community still pitches lots of ideas. I wrote a post about Ethereum prospect. TLDR: ETH is not looking good, for now.

Original Post: https://bitflate.org/post/2019/11/16/ethereum-and-computer-language.html

Bitflate is a cryptocurrency with constant inflation of 7% per year.
This article reflects author’s opinion, not Bitflate community.

When I first got into crypto in 2017, the first project I looked at was Ethereum (ETH). It captured a lot of attention from the market. I’m a developer so I have the skills to dig around a ETH development framework, such as Truffle. I find the whole ecosystem confusing. The idea of smart contract and programmable blockchain sounds fancy. But like many things in software, fancy is a gloss for complex technology that doesn’t work. I followed ETH development. I didn’t find a good and simple use case that really gains adoption. I think CryptoKitties was probably the most notable project.

After ETH, I studied Bitcoin (BTC). I find it is more focused. BTC only wants to be money, in particular, digital gold. BTC clearly captured this market. ETH is like a research project. ETH is general purpose and programmable. It lacks focus. Their leaders often change narrative and pitch endless new ideas.

It is easy to go down the rabbit hole and attack each other. Some readers challenge my view on ETH. I write this article to explain my view about its prospect in the market.

Three success factors in crypto: use case, use case, use case

I use this real estate adage (location, location, location) to emphasize the importance of use case. Cryptocurrency is a new space. The most important factor that determines long-term success for a crypto is use case. For example, Bitcoin (BTC) is digital gold. zcash and Monero are privacy coins. Dogecoin is meme, fun, tip coin. Bitflate is inflating coin.

ETH pitch is general purpose, programmable blockchain. It is supposed to conquer all markets. But since it is general purpose, it doesn’t do anything particularly well. In digital gold use case, it is trailing far behind Bitcoin. Its programmable capability opens gateway for scams. Post ICO craze, ETH community has moved on to the next pitch, decentralized finance, DeFi.

It is easy to look at ETH history and point out many flaws. But if we think of it as an experimental, research project, we can learn some things from it. I suspect BTC sidechain idea is an effort to compete with ETH. Not everything in ETH is bad. But how do we gauge its success? From my software background, comparing ETH to computer language will give us some glimpse about ETH prospect.

Ethereum as computer language

Ethereum is a programmable blockchain. It’s supposed to be programmable, like a computer language. I find they share similarities. Computer language is obviously programmable . One lesser known fact about computer language is almost all of them are general purpose. That means you can actually program anything with a particular language. For example, Java is a high level programming language. But it’s possible to program an operating using Java. This is an interesting feature but it is also very confusing. Occasionally, people will use programming language in very different use cases.

Programming language shines in specific use case

Each language is optimized and used for a very specific market. For example, when it comes to operating system, the dominant language is C. In enterprise software application, it is Java. PHP is a language that is used for web development. It doesn’t find much use outside of web development. In some cases, we find languages with multiple use cases. For example, Python started out as a scripting language, then it got adopted for web applications, and recently data science.

Drawing from computer language analogy, for ETH to succeed, it needs to find a specific use case. If ETH community keeps pitching general purpose blockchain, they diminish ETH long term prospect.

Polymorphic Ethereum

It is possible for Ethereum to be general purpose for a long time. It can be a fun research project for many years. Eventually, somebody will come up with a working scenario. This occasionally happens in computer language. Ruby is a lesser known programming language. It was invented in 1995. It did not find any success until around 2005. Interest in Ruby surged because a programmer, David Heinemeier Hansson (DHH), invented Rails, a new way to program web application. He decided to use Ruby as the underlying language.

Perhaps, around year 2025, an Ethereum DHH will appear and figure out a cool use case for Ethereum. Even then, it is good to remember that even with Ruby, its use case is limited to Rails. The applicable Ethereum use case will be very specific. It will not be what we see today in the market.

Disclosure: I’m long Bitcoin (BTC) and Biflate (BFL).

[deathcode]

all coins in the market are experiencing the same thing. it's been almost the last 2 months the market looks stable and I think this will last until the end of the year. there is no sign of the pump yet, but we can expect that the market will be pumped in the first quarter of 2020 and will experience its peak in the middle of 2020. I think etherum is okay, and everything is almost normal as the crypto market.

Current market conditions are indeed difficult for us to predict. as you all say is stable with small movements, not only ethereum but also almost all coins in the crypto market experience the same problem. if you expect the pump to come, maybe it will happen next year. but it should be seen at the end of this year the movement of ethereum and the market when some major updates from ethereum and bitcoin will occur next year.

[yulionoo]

I think almost all altcoin is experiencing a decline like eth. since the first quarter of 2018 the bitcoin market has declined and this has had an impact on the altcoin market. plus the many cases of ICO scams make eth values increasingly fall. because some ICOs use eth. if there are currently very few ICO projects, then eth demand is also greatly reduced. I think this is one of the reasons eth prices continue to decline. I hope that when Bictoin splits in the next year the eth value will increase.

[pgbit]

Ethereum price just reflects the market and that's the fact, when there is a bullrun, Ethereum price would move with it as well, it's just that the market is generally bad right now and the price of Ethereum reflects this, it might seem like the price is just hibernating but I think it's because the ICO tokensale model has died, who remembers the days of gas wars? This made the sales of Ethereum rise and hence the price as well, but those days are gone and I think what would make it rise higher is bullrun.

[FanEagle]

I think almost all altcoin is experiencing a decline like eth. since the first quarter of 2018 the bitcoin market has declined and this has had an impact on the altcoin market. plus the many cases of ICO scams make eth values increasingly fall. because some ICOs use eth. if there are currently very few ICO projects, then eth demand is also greatly reduced. I think this is one of the reasons eth prices continue to decline. I hope that when Bictoin splits in the next year the eth value will increase.

I am sure that Ethereum too knows that they are being affected by this and they need to do something about it since the only real use case that they have right now is still their china, except maybe the futures they want to introduce in their next upgrade which I don’t see as a product that will really drive the market as much as ICO did.

Their chain service for ICO is still a very good product at any time, but there is lots of limitation on it and this limitation is what they really need to first of all take out of their way first if they really want to have more growth in the value of their coin, because if they dint do something about it, they might eventually be losing their dominance to bitcoin and may get to a point where bitcoin increase will not affect them again.

[daarul50]

I think almost all altcoin is experiencing a decline like eth. since the first quarter of 2018 the bitcoin market has declined and this has had an impact on the altcoin market. plus the many cases of ICO scams make eth values increasingly fall. because some ICOs use eth. if there are currently very few ICO projects, then eth demand is also greatly reduced. I think this is one of the reasons eth prices continue to decline. I hope that when Bictoin splits in the next year the eth value will increase.

I am sure that Ethereum too knows that they are being affected by this and they need to do something about it since the only real use case that they have right now is still their china, except maybe the futures they want to introduce in their next upgrade which I don’t see as a product that will really drive the market as much as ICO did.

Their chain service for ICO is still a very good product at any time, but there is lots of limitation on it and this limitation is what they really need to first of all take out of their way first if they really want to have more growth in the value of their coin, because if they dint do something about it, they might eventually be losing their dominance to bitcoin and may get to a point where bitcoin increase will not affect them again.

it is not only ethereum, i guess most of the altcoins is underperforming .

so instead questioning about "what is wrong with ethereum" let's start questioning about "what is wrong with altcoins?" i am a big fan of this ethereum coin since the beginning , since they make a good move partenring with microsoft azure.
there is a trend where a lot of newcomer investor prefer to store their value temporarily in a stable coins like USDT , USDC and PAX that climb up to top 50 coins quickly these days , the big four like ethereum litecoin xlm and dash slowly get abandoned by the investors.

this is the most makes sense reason why for me, the whole altcoins has been underperformed not only ethereum.

[Barbut]

We will see that after the upgrade. Before the upgrade, we can discuss what will happen, about our expectations, all that is just talk, that needs to happen and we need to see realization, after that, we will know much more in which direction Ethereum is going.
Now I think that this upgrade will be good for Ethereum, many people find staking more attractive then mining. In the long run, this can boost demand for Ethereum.

[Jiyens3]

I think almost all altcoin is experiencing a decline like eth. since the first quarter of 2018 the bitcoin market has declined and this has had an impact on the altcoin market. plus the many cases of ICO scams make eth values increasingly fall. because some ICOs use eth. if there are currently very few ICO projects, then eth demand is also greatly reduced. I think this is one of the reasons eth prices continue to decline. I hope that when Bictoin splits in the next year the eth value will increase.

I am sure that Ethereum too knows that they are being affected by this and they need to do something about it since the only real use case that they have right now is still their china, except maybe the futures they want to introduce in their next upgrade which I don’t see as a product that will really drive the market as much as ICO did.

Their chain service for ICO is still a very good product at any time, but there is lots of limitation on it and this limitation is what they really need to first of all take out of their way first if they really want to have more growth in the value of their coin, because if they dint do something about it, they might eventually be losing their dominance to bitcoin and may get to a point where bitcoin increase will not affect them again.

it is not only ethereum, i guess most of the altcoins is underperforming .

so instead questioning about "what is wrong with ethereum" let's start questioning about "what is wrong with altcoins?" i am a big fan of this ethereum coin since the beginning , since they make a good move partenring with microsoft azure.
there is a trend where a lot of newcomer investor prefer to store their value temporarily in a stable coins like USDT , USDC and PAX that climb up to top 50 coins quickly these days , the big four like ethereum litecoin xlm and dash slowly get abandoned by the investors.

this is the most makes sense reason why for me, the whole altcoins has been underperformed not only ethereum.

Normal things for each coin to experience competition. It also applies to Ethereum. You can see that Ethereum is quite a well-bangus Altcoin, even one of the coins that is quite superior to him. So much their hopes towards Ethereum. But do not forget that Ethereum can also experience a decline. Nowadays there are slight obstacles that result in a decline. So it interferes with the state of Ethereum.

[Chukwunonso]

Despite the fact that there has been rumours about the eminent increase in the value of ethereum as a result of the introduction of the ethereum 2.0 by next year, we are yet to see substantial increase in the value of ethereum, but rather the value of Bitcoin and other altcoin has been on the decline lately

[bitblade]

The market is dull but most of us expected ETH to outperform like it did in first quarter of 2018 post bull run when every crypto coin were going down and even the value of bitcoin was dumped but ETH was steady for a while and not sure why ETH is under hibernation mode nowadays. What might be the reason we don't see much movement in the price of ETH? I know all the altcoins are down but ETH is not same as them but I am unable to figure out the reason why ETH is struck.

To speculate the course was always something dreamt of by many, still in reality u can't. ETH could explode tomorrow or go down tomorrow. Don't try to predict the unpredictable

[piebeyb]

we cannot force the current market desires even the value of ETH continues to be hit below $ 150, the easy thing to guess is why the price of ETH is not moving because it follows the price of bitcoin which also looks uninspired, it's hard to kick it above $ 200 until the end of this year the market is still gloomy and not passionate, maybe everyone is waiting in the following year when ETH will be reincarnated to ETH 2.0 and new things come from it