11 years since the launch of the ETH genesis block

[rdluffy]

Today, July 30th, marks 11 years since the launch of the ETH genesis block 

I discovered ETH before Bitcoin, and I only ended up on this forum because of ETH and mining
Good times mining with GPUs, back when ETH was still worth less than 100 dollars, hehehe

I got into it in 2017, when ETH was two years old and worthing less than 100 USD 

I found a nice image with the prices of ETH on every anniversary


Source

[Abiky]

Today, July 30th, marks 11 years since the launch of the ETH genesis block 

I discovered ETH before Bitcoin, and I only ended up on this forum because of ETH and mining
Good times mining with GPUs, back when ETH was still worth less than 100 dollars, hehehe

I got into it in 2017, when ETH was two years old and worthing less than 100 USD 

I found a nice image with the prices of ETH on every anniversary

It's been a long ride. Unfortunately, ETH isn't as good as it was in the early days. It has shifted its focus from quality into quantity. Now it leans more into centralization than anything else. Other altcoins are even worse. Price-wise, ETH hasn't been doing well either. It's been struggling to reach a new ATH and maintain high prices for a prolonged period of time.

Of course, Ethereum is one of the oldest blockchain networks in existence. But it's undervalued, considering that it's the pioneer of smart contracts. Unless altcoin season makes a comeback, don't expect ETH to go anywhere soon.

[Botnake]

I was already here when ETH was still around $10, but sadly I didn’t hold it. I ended up gambling most of it instead.

Still, I can’t say I got nothing from that time. I made some money from ETH tokens and a few shitcoins even gave me a small fortune for a while.

The problem is, a big part of those coins later became worthless. 

Seeing this picture brings back some regret. Not because I never had the chance, but because I had it and didn’t realize I should hold longer.

[hugeblack]

It would be best to add a link to the Ethereum advertisement ----> [ANN] Ethereum: Welcome to the Beginning
It took more than a year before we saw the network working without problems on July 30, 2015.
In terms of price, it is good compared to these tokens, but it is not the best compared to Bitcoin.

[Taskford]

Today, July 30th, marks 11 years since the launch of the ETH genesis block 

I discovered ETH before Bitcoin, and I only ended up on this forum because of ETH and mining
Good times mining with GPUs, back when ETH was still worth less than 100 dollars, hehehe

I got into it in 2017, when ETH was two years old and worthing less than 100 USD 

I found a nice image with the prices of ETH on every anniversary

It's been a long ride. Unfortunately, ETH isn't as good as it was in the early days. It has shifted its focus from quality into quantity. Now it leans more into centralization than anything else. Other altcoins are even worse. Price-wise, ETH hasn't been doing well either. It's been struggling to reach a new ATH and maintain high prices for a prolonged period of time.

Of course, Ethereum is one of the oldest blockchain networks in existence. But it's undervalued, considering that it's the pioneer of smart contracts. Unless altcoin season makes a comeback, don't expect ETH to go anywhere soon.

We may see Ethereum experiencing not moving good recently, but dropping those doubts actually missed a big picture about it.

Because so far ETH remain as the backbone of those stablecoin transfer, Defi's and we can also add up the NFT's.

Also despite of current struggles, especially for seeing it not reaching those new high. ETH somehow remains relevant because this coin still well used and consistent to host those big on chain activities.  Many people argue, especially the supporter and think ETH is undervalued knowing its utility and other potentials.

[JeromeTash]

I got to know about it in 2016 when it was somewhere at $10, I believe. Seeing how Bitcoin was performing at the time, I never thought I would even grow into a big network. The ICO boom in 2017-2018 gave it a huge push, and that is when most of the people started to realise how Ethereum was one for the future

Lately I think its growth has stagnated thanks to so many other alternative competitive networks like BNB, Solana, Base, etc.

[Josefjix]

I was just looking at the 4 year periodic cycle in the image you posted, and I could figure out that this cycle I actually true. From the beginning of creation, the 4th year gives birth new ATH till 2025, now 2026 is the starting of another 4th year again, so meaning new ATH will occur in the year 2029. Just my observation.

[Abiky]

I got to know about it in 2016 when it was somewhere at $10, I believe. Seeing how Bitcoin was performing at the time, I never thought I would even grow into a big network. The ICO boom in 2017-2018 gave it a huge push, and that is when most of the people started to realise how Ethereum was one for the future

Lately I think its growth has stagnated thanks to so many other alternative competitive networks like BNB, Solana, Base, etc.

I'd consider the "ICO boom", the "Golden Era" of Ethereum. Many projects came up with innovative solutions at the time. It's all ruined now, thanks to the regulators. Even on-chain mixers have lost their luster. After Tornado Cash got sanctioned by the US, things were never the same.

Now the competition has "eaten" ETH's cake, as they prove to be faster and cheaper to use. Solana and BNB have been one step of ahead of the game, while Ethereum struggles to maintain low gas fees and fast confirmation times. While on-chain gas fees have lowered recently, it's only a result of reduced network activity. ETH devs focused too much on L2 networks, driving people away from the main chain. It's hard to bring back investors into the main Blockchain network again. If Vitalik and team don't come up with something that would blow ETH's rivals "out of the water", the project would be nothing but doomed. Only time will tell.

[TastyChillySauce00]

It's been a long ride. Unfortunately, ETH isn't as good as it was in the early days. It has shifted its focus from quality into quantity. Now it leans more into centralization than anything else. Other altcoins are even worse. Price-wise, ETH hasn't been doing well either. It's been struggling to reach a new ATH and maintain high prices for a prolonged period of time.

At least there is effort for improvement right now with the restructuring of Ethereum Foundation and the Lean Ethereum Roadmap with native privacy improvements and higher scalability.

With transactions coming back to L1 because the gas has become cheaper and closing down of many L2s, there will be no more liquidity fragmentation problem and the revenue will come back to L1 which will increase ETH burn.

Even though ETH seemingly lagged behind in price, it's still one of very few blockchain that genuinely able to handle institutional settlement and billions TVL easily with consistent chain REV.

[MAAManda]

Already saw a similar topic on Altcoinstalks, LOL.

In the early days of its launch, Ethereum (ETH) became the goddess of the crypto industry, alongside Bitcoin (BTC), which stood as its god. Everything was going perfectly for Ethereum (ETH) until the emergence of several altcoins that challenged its position. Their position was further exacerbated by network congestion, which drove transfer costs to extremely high levels, leading to the emergence of numerous L-2 solutions.

Well, happy 11th birthday to Ethereum (ETH), hopefully its holders are still holding on to this stablecoin.

[Ahli38]

ETH’s performance has indeed been excellent when viewed from its initial price around 2015. And Ethereum’s price has increased by about 6,000 times compared to its current price. But I personally believe that Ethereum’s price performance isn’t as strong as Bitcoin’s. We can see that Bitcoin’s performance has been very consistent in setting new all-time highs during each halving cycle. And Bitcoin’s price is still quite far from its all-time high in 2017 when compared to Ethereum. On the other hand the Ethereum Foundation has recently appeared to be experiencing internal conflicts, where several members resigning from the organization. On the other hand many Ethereum Foundation employees have reportedly been laid off as part of a restructuring plan. So I personally think that Ethereum’s future doesn’t look very promising given the potential internal issues they’re facing. We can’t be sure whether Ethereum will be able to bounce back and improve its performance after this turmoil. But I feel that Ethereum’s journey won’t be smooth sailing. And perhaps this will have a significant impact on Ethereum’s price performance.

[Localhostspeed]

In the early days of its launch, Ethereum (ETH) became the goddess of the crypto industry, alongside Bitcoin (BTC), which stood as its god. Everything was going perfectly for Ethereum (ETH) until the emergence of several altcoins that challenged its position. Their position was further exacerbated by network congestion, which drove transfer costs to extremely high levels, leading to the emergence of numerous L-2 solutions.

Well, happy 11th birthday to Ethereum (ETH), hopefully its holders are still holding on to this stablecoin.

I think Ico was one of the main catalyst of Ethereum, who wouldn't buy Ethereum if you can buy $10 coin on Ico and get $100 immediately after listing and to say there was Soft cap and hard cap then, people make the cap reach on time because everyone was looking for a way they can make money, until there was nothing left to make anymore, scam killed it and till now, we are facing the same problem with meme coins, people be taking advantage of others.

What I don't understand about Ethereum is how the confidence went low. Bitcoin reach a new all time high, even if things are that bad for Ethereum, it is supposed to reach a new all time high but it retrace the previous all time high and dump again and have struggling since then, Bitcoin is still trading better than Ethereum despite the rally it did, the coin need to do something.

[JeromeTash]

I'd consider the "ICO boom", the "Golden Era" of Ethereum. Many projects came up with innovative solutions at the time. It's all ruined now, thanks to the regulators. Even on-chain mixers have lost their luster. After Tornado Cash got sanctioned by the US, things were never the same.

Now the competition has "eaten" ETH's cake, as they prove to be faster and cheaper to use. Solana and BNB have been one step of ahead of the game, while Ethereum struggles to maintain low gas fees and fast confirmation times. While on-chain gas fees have lowered recently, it's only a result of reduced network activity. ETH devs focused too much on L2 networks, driving people away from the main chain. It's hard to bring back investors into the main Blockchain network again. If Vitalik and team don't come up with something that would blow ETH's rivals "out of the water", the project would be nothing but doomed. Only time will tell.

Yeah, the transaction fee thingy also led to its unpopularity. People started to look for alternative chains to transact, and most of them have never looked back. I think if Ethereum had handled the high gas issue much earlier on during the ICO boom, most of the alternative chains would have failed to get popular just like the other "Ethereum killers", such as NEO and EOS, did.

I also remember things worsening when they decided to switch from POW to POS. True decentralisation and POW lovers definitely exited the ship. I can imagine Bitcoin trying to go POS. I would be one of the people who would be so disappointed.

[Abiky]

Yeah, the transaction fee thingy also led to its unpopularity. People started to look for alternative chains to transact, and most of them have never looked back. I think if Ethereum had handled the high gas issue much earlier on during the ICO boom, most of the alternative chains would have failed to get popular just like the other "Ethereum killers", such as NEO and EOS, did.

I also remember things worsening when they decided to switch from POW to POS. True decentralisation and POW lovers definitely exited the ship. I can imagine Bitcoin trying to go POS. I would be one of the people who would be so disappointed.

Yet, many thought ETH's transition from PoW to PoS was going to make things smoother. Like experiencing a reduction in gas fees and wait times. The upgrade didn't do a thing, other than make ETH more centralized. Core ETH devs then began to leave the main chain "unattended", as they encouraged people to move to L2s instead. These separate networks took a large market share of ETH.

So now ETH suffers from low adoption and stagnant market prices. The competition is faring better in this regard. Chains like Solana and BSC (powered by BNB) have brought a massive wave of traders and investors alike. The "meme" coins craze has made SOL a huge success. What's only keeping ETH at the top, is first-mover advantage. If it wasn't by that, it would've lost its #2 spot already. Time will tell us whenever ETH will retain that position or simply become a failed experiment.

[pooya87]

It's a shame how this project turned out though. The idea behind ethereum was a cool one which got the initial pumps in early days, but they implemented it as a centralized coin with a flawed protocol and a mutable blockchain and a huge premine and finally put the last nail in its coffin by switching to the flawed PoS protocol.

I found a nice image with the prices of ETH on every anniversary

I personally prefer to see and analyze the altcoin prices against bitcoin not against dollar. That's because one of the main reasons why altcoin prices seem to be going up against dollar is because bitcoin price keeps going up against dollar and all altcoins have to do is not get dumped bigger than bitcoin's price rise and they'll have a price rise against dollar as well. In this case for example ETH got dumped from its ATH at 0.11BTC in 2017 all the way down to 0.02BTC in 2026 all the while its dollar price seems to be going up.

Year     ETH       BTC
2016   0.020BTC     -         655$
2017   0.081BTC (+305%)     2,747$ (+319%)
2018   0.056BTC (- 30%)     8,160$ (+197%)
2019   0.022BTC (- 60%)     9,594$ (+ 17%)
2020   0.030BTC (+ 36%)    11,112$ (+ 15%)
2021   0.060BTC (+100%)    42,235$ (+280%)
2022   0.072BTC (+ 20%)    23,645$ (- 44%)
2023   0.064BTC (- 11%)    29,279$ (+ 23%)
2024   0.050BTC (- 21%)    66,171$ (+126%)
2025   0.032BTC (- 36%)   117,834$ (+ 78%)
2026   0.029BTC (-  9%)    64,717$ (- 45%)
       --------------    ----------------
                +45%            +9780%

[o48o]

-cut-
I got into it in 2017, when ETH was two years old and worthing less than 100 USD  
-cut-

I remember the ico and the listing. If i remember correctly, viacoin came before eth and i had my money on that because cobie talked about it. And i pretty much ignored eth.

Back then i didn't really understand how marketcaps work and thought that there were just too many coins. And on top of that i listened to bitcoin maximalists who didn't believe it would work, or turn into anything meaningful. Technically i still understand where they were coming from, but i definitely learned a lesson. Everyone has an agenda and just because someone has been around longer then me, it doesn't mean their

Lesson learned there, everyone has an agenda and potential gains are often ignored when we are focusing on speculating about fundamentals.

[Dunamisx]

It is interesting to see that ethereum already clocks 11 years and still counting as the top most recognized alternative currency in the cryptocurrency, it has made a significant fame when it comes to market performance over the years and many have invested in ethereum and make profit from it, while some are still more interested in future prospect over this altcoin, we are still looking forward to see how ethereum could perform as before this altcoin season we are aiming at, which we believe could happen towards the end of this year or anytime by next year.

[Abiky]

It's a shame how this project turned out though. The idea behind ethereum was a cool one which got the initial pumps in early days, but they implemented it as a centralized coin with a flawed protocol and a mutable blockchain and a huge premine and finally put the last nail in its coffin by switching to the flawed PoS protocol.

By "mutability", do you mean ETH rolling back transactions after the 2016 "The DAO" hack? To me, that marked the beginning of the end for ETH. Then came PoS, followed by increased business (Enterprise Ethereum Alliance) and institutional interest, leading the coin to the point were it is right now. Although, other chains are more centralized than ETH.

I consider Ethereum Classic to be a more decentralized and censorship-resistant alternative. It's as close to Bitcoin in this regard. Unfortunately, it hasn't done very well on the market compared against its slibling. ETH retained a high price per coin, while ETC went all the way down the drain. It's the market's decision, anyways. There will be winners and losers. Who knows what would be of Ethereum within the next decade?

[pooya87]

By "mutability", do you mean ETH rolling back transactions after the 2016 "The DAO" hack?

That's the one and it is a very important event that highlighted both the flaws in Ethereum protocol and its centralization. You see the flaw wasn't exactly fixed and other projects exploited the protocol in similar fashion and stole people's money but the centralized authority only rolled back the DAO mess because THEY lost money in it and never bothered with the rest because they never lost money in those!

[laspol65]

Ethereum coin has been in the market for a long time, but despite performing well in the past, the current situation of Ethereum coin is very bad. Because people are holding back from investing due to the fact that its price has not improved much, they have failed to take more advanced steps for a long time. As a result, if such a situation continues for a long time in the future, there is a possibility that the price of Ethereum coin will deteriorate further.
Therefore, of course, the owner of the Ethereum platform should take more advanced steps, then investors will be able to restore confidence in Ethereum coin again.