There was a time months ago when I thought that Ethereum was the future of crypto. The self-executing blockchain architecture can be incredibly powerful for applications where escrow or change of ownership are involved--without the need for lawyers!
Months later, Im realizing that Vitali is trying to move too fast. The community's obsession with ICOs is tarnishing the image of Ethereum; most people who have heard of ETH only see it as being associated with Ponzi-scheme-like startups. I dont blame them.
China's recent move to ban ICOs should not be taken lightly for Ethereum. Until some of the self-executing features of Ethereum see *real-world* applications (ICOs are not real-world), this crypto is simply trading on optimism (or lack thereof). That being said, movement from Ethereum will cause Bitcoin and, more importantly Litecoin, to reap those outflows.
Bitcoin is a digital safe-haven--the most trust crypto out there--whereas Litecoin is transactional (shorter block time). Being that Ethereum is transactional in nature, I think that Litecoin will see a bigger boost than Bitcoin from those ETH outflows.
Ive owned Ethereum for a while, so I will hold on to it, but Im not planning on buy more anytime soon.
Months later, Im realizing that Vitali is trying to move too fast. The community's obsession with ICOs is tarnishing the image of Ethereum; most people who have heard of ETH only see it as being associated with Ponzi-scheme-like startups. I dont blame them.
China's recent move to ban ICOs should not be taken lightly for Ethereum. Until some of the self-executing features of Ethereum see *real-world* applications (ICOs are not real-world), this crypto is simply trading on optimism (or lack thereof). That being said, movement from Ethereum will cause Bitcoin and, more importantly Litecoin, to reap those outflows.
Bitcoin is a digital safe-haven--the most trust crypto out there--whereas Litecoin is transactional (shorter block time). Being that Ethereum is transactional in nature, I think that Litecoin will see a bigger boost than Bitcoin from those ETH outflows.
Ive owned Ethereum for a while, so I will hold on to it, but Im not planning on buy more anytime soon.