You are viewing a single comment's thread from:

RE: Why Will Ethereum Fail?

in #ethereum7 years ago

Bitcoin has been in a scalability crisis for 2 years. Has it failed? It's a misconception to think a platform will fail because better tech is available or soon to be released. Actually, what happens is the market chooses a winner, and goes that direction. Capital is invested in that direction. Often then, either that platform is improved, or market participants suffer with the hiccups for longer than people would expect. We should have abandoned bitcoin 2 years ago, but it is still going strong.

ETH will go to 50 billion market cap. Scalability issues are in the future. The market is willing to suffer long periods with scalability issues even when this threshold of 30 TPS is reached along with expensive gas prices.

Many people make the mistake of thinking tech equals market price, or that bad / limited tech will inhibit market cap to make competitors win. That only applies if two coins start out racing at the same time. It does not apply to ETH which holds a lead and is developing outside interest from traditional financial investors that are newly arriving into crypto. Long-term ETH has issues. It can either innovate out of those issues by hard forking, or it can lead the pack for the next several years and then slowly go away when the perfect competitor comes.

In crypto communities, we have too much info... all this extra info clouds our judgement when attempting to determine future prices of currencies. I know it has clouded my judgement several times, I sold most of my ETH at $90. Now that the fog has lifted off me, I can see the right perspective on it.

Sort:  

Also, I do like EOS, and I think it will be huge. But I do not think it would immediately beat ETH, or beat ETH in the next 3 years in market valuation. Why? Has bitshares ever beat bitcoin? We witnessed clearly better tech sit on the shelf while the market continued to value bitcoin among other inferior tech like litecoin and dogecoin, the market valued bitshares less than those. To this day, dogecoin is still ahead of bitshares. Think about that.