Ethereum and "ultrasound" money

H

hawkeye1

Active Member
First of all, is it just me or does the word ultrasound conjure up different images than that of money?

Money is either sound or it isn't. It's a true or false proposition. It's like saying something is "ultra-true". That's obviously way better than just plain true, right?

Ethereum is the AOL of cryptocurrencies. Poorly conceived, trying to do everything but not likely to accomplish anything in the long-run. PoS is basically make-the-rich-richer. All this concern over the environment is decreasing security and increasing centralization.

"Ultrasound" is either being disingenuous or lacking basic monetary knowledge. What we have seen all along from Vitalik is that he doesn't understand money.

All this shows to me is that Vitalik and gang realise they've lost and are getting desperate.

Having said all this, Ethereum may well go to quite high valuations in the near-to-medium term. I really don't think it has any future in the long-term as Bitcoin layer 2 solutions increasingly come online and the overall market matures.

As they say, NFA.
 
hawkeye1 said:
"Ultrasound" is either being disingenuous or lacking basic monetary knowledge. What we have seen all along from Vitalik is that he doesn't understand money.
Click to expand...

Lol, I've never heard of that so I googled it and as it turns out it's been a long-running theme (meme?) amongst some Ethereum devotees. Especially those that like to bag BTC maximalists. :p

Now Ether is a big favourite of mine but on what planet does it ever become money? None I would suggest. And, there is a huge case to be made that a deflating currency (as well as any that can't inflate) can never be sound money.
 
yeah, nah

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Bitcoin L2 solutions are going to make ethereum obsolete.

Eth token can't compete with BTC on security or decentralization.

Ethereum tried to do too much on L1, thinking if it could beat BTC there it would win. Reality is, Vitalik is a young kid with very little overall network architecture knowledge or experience. He got it wrong, there's no opportunity for a do-over and they are getting desperate.
 
All these other L1 altcoins (shitcoins) thinking they have a chance? lol

The shitcoin casino has a limited life span.
 
The other thing to note is that the world can't support more than one main cryptocurrency at the end of the day.

It's not just about miners and nodes.

It's also about talented software developers. They are a scarce resource and they are trending towards Bitcoin. Each one of them tries to determine what is going to be best for their long-term career, which software they will have to invest in learning. This is a telling signal.

Altcoins will exist, but they will have limited uses, for example a video-game may have it's own in-game currency.

So why does the altcoin market exist? Simple. The market hasn't yet matured to the point where it's obvious to the majority of the population. They are all thinking it is basically like the share market back in the 90's dotcom boom. All you have to do is buy any dotcom company and you are a winner. Reality is, only a few dotcom companies were any good and the rest bust. It was the exact same. It might be obvious to people now how dotcom works, but it wasn't in the 90's at all and much less of the population was even on the internet. 20 years from now, everybody will say it was obvious what crypto is for, even though few can see it now. Hindsight is 20/20.

You have to look at all the signals to get a feel for what is going on in the long-term, not just price numbers on a chart.
 
For me it's more about making $$ so whatever is left at the end is not the gamble for me. Eth has been doing much better for some time now so I'm glad I sold my btc and bought eth awhile back. It's been holding much stronger.
 
From a Reddit post, yeh I know, it's just sometimes easier:

So in a world full of competing products, operating-systems, programming languages, asset classes and currencies;for some reason just in the crypto-space, we will have one coin to rule them all.....
Click to expand...
 
one coin/platform is just bitcoin maxi talk.

we have massive investment in layer 2 and other platforms, like saying gold will be the only form of currency in the future. just look at defi space, where is the defi on bitcoin?
 
It's all going to be about the mainstream audience in the end. The 95% of the population who aren't here yet. Normies aren't going to want to deal with multiple coins/platforms. It's a race to see who wins the normies.
 
Windows operating system still dominates on desktop. Number 2 a long way behind.

99% of countries in the world only operate 1 currency.

Crypto isn't an asset class, it's a winner-take-all game.
 
actually linux dominates server os, but i fail to see the correlation between desktop os and what crypto will dominate?

cash, credit cards, visa, paypal, afterpay etc, they payment landscape is changing.

comparing bitcoin to ethereum is like comparing phisical gold to paper gold eft. like saying only physical will ever exist and dominate there are many who gave up using the bitcoin network long ago, but run their bitcoins on ethereum.
 
as·set
/ˈaset/
Learn to pronounce

noun
  1. a useful or valuable thing, person, or quality.

Tell someone that bought btc at $5 its not an asset. He would probably die laughing while he drives away in the Lambo.

An asset can be an asset until it becomes a liability same as anything.
Right now I'd say asset.
 
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