Should we be happy and wishing for Eth to decline?

[AsiaHODL]

I have mixed views. I don't really see Eth as an "alt" to BTC, but it pisses me off that some do promote as being such. (I have just 1% of my "crypto" exposure to Eth, and also 1% in Link, UniSwap, and around 3% in FIL - none of which I consider an alt to BTC at all, but all of which I do think have some inherent value.

Overall, I would like to see Eth fall, as these idiots just don't realize that economic energy is finite, and that in general, all would be better served gravitating entirely to BTC (at least in terms of its stated purpose), as opposed to diluting it with "alts". This whole Tom Lee, now we have an "Eth treasury" bullshit has started to annoy me.

For the record, in my view, ETH has a fair value of around $600, based on a discounted cashflow analysis.

[AVE5]

I have mixed views. I don't really see Eth as an "alt" to BTC, but it pisses me off that some do promote as being such. (I have just 1% of my "crypto" exposure to Eth, and also 1% in Link, UniSwap, and around 3% in FIL - none of which I consider an alt to BTC at all, but all of which I do think have some inherent value.

Alt coins in full meaning is "Alternative Cryptocurrencies". It's an adopted term to the crypto industry which Eth follows come in existence in the crypto world after bitcoin has existed and dominated the industry.
It's a short form that comprises every other crypto currencies which includes the Eth, Doge, Solana coins and the rest crypto currencies exempt bitcoin.
I also think bitcoin do actually deserve that special path so that whoever investing in the digital assets can notably differentiate bitcoin from the shitcoins.
Experience users will always understand better than newbies and skepticse.

[Pumpsta]

I don’t wish an alt the worst unless it goes against the grain & tries to bring centralization and all the shitload to Bitcoin as if they’re better. There are a few alts worth bringing into the discussion here and there but they’re mostly shitcoins or coins that keep drowning every year.. faster than the USD nowadays it looks like lol

[Ambatman]

I don't have any opinion towards ETH and don't wish for its decline despite not supporting it
But fact still remains that it would decline as time goes on especially having unlimited supply.

This whole Tom Lee, now we have an "Eth treasury" bullshit has started to annoy me.

Imagine using a inflationary coin as a treasury.

Besides I believe this would be better suited in the Altcoin discussion board.

[Btcdeybodi]

I have mixed views. I don't really see Eth as an "alt" to BTC, but it pisses me off that some do promote as being such. (I have just 1% of my "crypto" exposure to Eth, and also 1% in Link, UniSwap, and around 3% in FIL - none of which I consider an alt to BTC at all, but all of which I do think have some inherent value.

Every cryptocurrency that comes after bitcoin is an altcoin to bitcoin of which ETH is among, though it doesn't behave like other altcoins. There are altcoins that still have value in them but i don't agree that they have inherent value in them because they can still crash in the long term and they can never outperform the dominance of bitcoin in the crypto market.

Overall, I would like to see Eth fall, as these idiots just don't realize that economic energy is finite, and that in general, all would be better served gravitating entirely to BTC (at least in terms of its stated purpose), as opposed to diluting it with "alts". This whole Tom Lee, now we have an "Eth treasury" bullshit has started to annoy me.

For the record, in my view, ETH has a fair value of around $600, based on a discounted cashflow analysis.

I wouldn't like ETH to fall anyways even though i don't hold ETH, but i still feel that there is some connection between ETH and bitcoin which is why in most cases when the price of bitcoin is falling, ETH also falls and when bitcoin rises, ETH also rise along and many folks who owns BTC also own ETH, probably the reason why price movement of bitcoin also impacts on ETH. I have been observing the price movement of ETH for a long time now, it's not a bad coin to hold at least in the short term.

[nutildah]

Supposing you are a hardcore bitcoiner, the correct move would be to just ignore Ethereum altogether. My opinion of Bitcoin thought leaders who constantly shit on Ethereum (Samson Mow comes to mind) is quite low. It reeks of fear and pettiness. Not to mention it opens people up to being exposed as hypocrites, as is what happened to Mow:

https://cointelegraph.com/news/bitcoin-maximalists-accused-of-shilling-an-sec-cleared-token

Same thing goes for Jameson Lopp and Adam Back - to a lesser extent - who bothered to defend his Blockstream coworker from the clearly hypocritical move of acting as advisor for an Ethereum-based token. Don't shit on other projects, just focus on your own, then no one can accuse you of being a hypocrite.

[FinneysTrueVision]

The closest alternative to Bitcoin is probably gold, which comes with many tradeoffs. I don’t think of Ethereum as an alternative to Bitcoin. The name altcoin just means anything that isn’t Bitcoin. There isn’t a deeper meaning beyond that.

The ETH maximalists and stock promoters believe that their coin will replace BTC, altcoins, and every financial application will be built on Ethereum. This is just not feasible. Half the apps on Ethereum and other smart contract networks stopped working earlier today because of the AWS outage. This is not something which can replace global financial networks or even Bitcoin.

ETH has its own value proposition, different from BTC, which has given it a half trillion dollar market valuation. That is impressive in itself. ETH failing isn’t necessary for Bitcoin to succeed. There isn’t one cryptocurrency that will serve every single use for all users, that is why altcoins will continue to exist and attract investors.

[headingnorth]

Peter Schiff is right about one thing.

Bitcoin is constantly getting diluted and devalued by the shitcoin market, similar to how the value of the dollar
and other fiat currencies are constantly being devalued or debased by endless money printing

Ethereum is worse than the money printer. Not just because of its endless supply, but it is also the largest
platform for launching over half of the shitcoins and cryptos that ever existed. And everyday dozens if not hundreds of
new pump and dump memecoins and NFTs are being launched from ethereum, constantly flooding the crypto market
with more worthless garbage by the day. Ethereum is the mother of shitcoins and biggest one of them all.

You have to be very stupid to mess with altcoins and throw away your money in the shitcoin casino.
But as the saying goes a fool and his money are soon parted, and a sucker is born every minute.

[Darker45]

If Ethereum isn't an alternative to Bitcoin, then there's no point being bothered about its existence. If some are pushing that narrative, there's probably no point arguing since it truly isn't. Would you get annoyed or argue against somebody who believes the earth is flat?

You're interesting. Why would you keep 1% of your portfolio in ETH if you like to see it fall or see its fair value at $600? You believe it's better if everything gravitates toward BTC and yet you keep shitcoins. Why don't you start the movement in your portfolio? You're diluting your very own with alts.

[348Judah]

Bitcoin is the main reason for cryptocurrency today, we all have the opportunity of being here to discuss about a decentralized network because of Bitcoin, there is more need for us to have an alternative digital currency with a decentralized network, then this became a success we achieved and today, we have many other projects or coins coming after the similar appearance of Bitcoin, maybe that's why they were all regarded as altcoins, like for you to have an original product and the counterfeit all along, but given the chance of choosing which you want, it is Bitcoin or altcoins, once Bitcoin is doing fine, am less concerned about other coins.

[pooya87]

Overall, I would like to see Eth fall, as these idiots just don't realize that economic energy is finite, and that in general, all would be better served gravitating entirely to BTC (at least in terms of its stated purpose), as opposed to diluting it with "alts". This whole Tom Lee, now we have an "Eth treasury" bullshit has started to annoy me.

Well if we consider bitcoin to an investment or an asset only, then what you say makes sense. But that would also turn bitcoin to something nearly as bad as a shitcoin such as ethereum.

But Bitcoin is not only an asset, it is a useful payment system (ie. it offers an actual utility that is used in the real world). In one word bitcoin is money. So we want more real adoption not more investors. In that case neither ETH nor any other shitcoin is capable of taking any adoption out of Bitcoin because they have no utility!
So if ETH is taking away some "gamblers" who thought they could get rich if they buy a "cryptocurrency" then it may be a good thing since these people are mostly weak hands who increase the volatility of the market when they panic sell each time there is a FUD out.

[arwin100]

Overall, I would like to see Eth fall, as these idiots just don't realize that economic energy is finite, and that in general, all would be better served gravitating entirely to BTC (at least in terms of its stated purpose), as opposed to diluting it with "alts". This whole Tom Lee, now we have an "Eth treasury" bullshit has started to annoy me.

Well if we consider bitcoin to an investment or an asset only, then what you say makes sense. But that would also turn bitcoin to something nearly as bad as a shitcoin such as ethereum.

But Bitcoin is not only an asset, it is a useful payment system (ie. it offers an actual utility that is used in the real world). In one word bitcoin is money. So we want more real adoption not more investors. In that case neither ETH nor any other shitcoin is capable of taking any adoption out of Bitcoin because they have no utility!
So if ETH is taking away some "gamblers" who thought they could get rich if they buy a "cryptocurrency" then it may be a good thing since these people are mostly weak hands who increase the volatility of the market when they panic sell each time there is a FUD out.

Because if it happens that ETH would drop it can also give bad effect to other coin. Since we can't avoid that some personalities out will generalize that crypto and Bitcoin is a scam due to those downfalls happen.

That's why somehow I don't wish it to drop but instead I wish this to succeed so that we could get more healthy discussion and adoption on ETH on Bitcoin. Adoption does not end only on investment and since those coins have their own use case. We won't get on some point that they call it money especially if they see huge threat on its volatile movement.

But people really need to learn more about Bitcoin and other potential coins like ETH to, so that they can distance their selves from people got easily panic also fuds. If they do this maybe the numbers of panic sellers will decrease in future.

[pooya87]

~

Because if it happens that ETH would drop it can also give bad effect to other coin. Since we can't avoid that some personalities out will generalize that crypto and Bitcoin is a scam due to those downfalls happen.

In that case you should wish ETH crash and burn sooner than later because if it were to happen during a bitcoin bear market the pull down on BTC price is going to be that much more significant compared to a time like this where market is leaning toward bull run.

other potential coins like ETH

ETH has no real potential though. It has unlimited supply and a severely flawed protocol (from bugs in its smart contract protocol all the way to its PoS protocol) and a mutable blockchain and is considered centralized.
The ICO mania (which was its only chance to pump) died with 2017 as well...

[MusaMohamed]

ETH has no real potential though. It has unlimited supply and a severely flawed protocol (from bugs in its smart contract protocol all the way to its PoS protocol) and a mutable blockchain and is considered centralized.
The ICO mania (which was its only chance to pump) died with 2017 as well...

Ethereum has real potential for scammers to do their scams from ICO to IDO, IEO, and many whatever-IOs on ERC20 chain. The ICO mania in 2017 is only a first big scam wave on Ethereum blockchain which was created by Vitalik Buterin as an infrastructure for scammers.

Ethereum has no real success so far and people who think ETH is a succesful cryptocurrency either did not know or ignore this chart.
https://www.coingecko.com/en/coins/ethereum

ETH/BTC chart clearly shows how Ethereum has failed over years from about 0.15 BTC for one Ethereum, now 1 Ethereum costs only 0.036 BTC. How do they call Ethereum as successful so far if in 2017 or 2018, they spent bitcoins for ETH and now if they sell their ETH, they will receive less bitcoins than what they had in 2017 and 2018.

[fikrett]

In that case, we can try to say that in our view, BTC still costs 100$ and not 100k of $, but I get your point.

 

You can be happy or not, but if ETH, the biggest coin after BTC, falls, it would have a big effect on the market overall, in the mind of the investors and so on.

[passwordnow]

Are there investors that still justifying that it's an alternative to BTC? I think that justification was gone long time ago already and everyone who's having ETH is just for diversification and not about that argument. Anyway, I think that we've got our own reasons why invest into this and that and we all have good reasons why we do it. If it's not looking good for OP that he shouldn't invest on ETH, that's totally fine and he's entitled to what he think with it. I'm invested in ETH but not a lot and I only bought it when it was so cheap so, no worries about it for me.

[shinratensei_]

Let the market decide what fair value ETH should have, I personally think it's overvalued as of now with uncapped total supply and all.
But apparently the market likes it because the smart contract blockchain have inherent capability to grow money through staking, doesn't matter whether we call it circular economy but people like to make their money work for them.

ETH is overvalued but the market could still price it higher in the future, even if it hits $5k it's the market to decide, honestly.

[Odusko]

I have mixed views. I don't really see Eth as an "alt" to BTC, but it pisses me off that some do promote as being such. (I have just 1% of my "crypto" exposure to Eth, and also 1% in Link, UniSwap, and around 3% in FIL - none of which I consider an alt to BTC at all, but all of which I do think have some inherent value.

Overall, I would like to see Eth fall, as these idiots just don't realize that economic energy is finite, and that in general, all would be better served gravitating entirely to BTC (at least in terms of its stated purpose), as opposed to diluting it with "alts". This whole Tom Lee, now we have an "Eth treasury" bullshit has started to annoy me.

For the record, in my view, ETH has a fair value of around $600, based on a discounted cashflow analysis.

Alts to Bitcoin is just a statement as every coin have it on standard operational model that keeps them surviving the market as independent assets in the market, just like Bitcoin is, so for sure what we say as alternative is not actually what it is but just a name to differentiate Bitcoin from other coins that coming behind.

[Akbarkoe]

I have mixed views. I don't really see Eth as an "alt" to BTC, but it pisses me off that some do promote as being such. (I have just 1% of my "crypto" exposure to Eth, and also 1% in Link, UniSwap, and around 3% in FIL - none of which I consider an alt to BTC at all, but all of which I do think have some inherent value.

Overall, I would like to see Eth fall, as these idiots just don't realize that economic energy is finite, and that in general, all would be better served gravitating entirely to BTC (at least in terms of its stated purpose), as opposed to diluting it with "alts". This whole Tom Lee, now we have an "Eth treasury" bullshit has started to annoy me.

For the record, in my view, ETH has a fair value of around $600, based on a discounted cashflow analysis.

But in function it is different, I see this direction is getting clearer, you don't need to spend the bitcoin you have, just save it for old age where you can enjoy it in retirement, I agree with you about the value of ETH, it is too high, but the technology it brings is becoming wider for the crypto ecosystem, this is one of the tools for people / developers to innovate with many things, we see Defi, Dex, EVM can be built which was initiated by ETH, isn't the web3 world increasingly complex looking at the future, there are so many fields that grow and new from here, and see a lot of protocols that are created and can be used to build the economy in the chain.

[asriloni]

Just because you're a bitcoin maximalist, and you hate alts who are co-exist with Bitcoin. If you don't like just ignore it. Even when you hate it, you still gave it 1% exposure from your portfolio to alts, which mean you're also considering it too.

Hating coin will never make you move on. None force you to buy alts too. In fact, market decided ethereum as one of worthy alt to keep exist. So there's nothing wrong with it.