Is anyone else starting to become a bit excited?

Bus Wanker wrote: »

Yeah was just gonna sell the alt coins I have and move to coinbase to buy eth or bitcoin and leave for the next few years. I just remember transferring bitcoin was expensive so the thing to do was convert to litecoin first

Ah Ok. Yes a Bitcoin transaction will be more expensive than an XRP one for exemple. I guess whether it matters it depends on the total amount you are transferring.

Woosh!!

Addison Fancy Macrame wrote: »

Yes could easily happen, but it'll sure be easier to pass it once again if and when that does happen. Psychological barrier has been lifted.

Yeah now its been crossed you would imagine it'll be smoother sailing next time.

I predicted this in May. https://www.boards.ie/vbulletin/showpost.php?p=113605166&postcount=1456

Irish_rat wrote: »

If eth for example hit 10k the network fee will be 50 quid. You definetly don't want to be moving it around too much by then

If ETH hits $10k before it hits 1k tx/s my pants will explode off my body super Saiyan-style

grindle wrote: »

If ETH hits $10k before it hits 1k tx/s my pants will explode off my body super Saiyan-style

10k? What makes you think it'll 7x its previous ATH?

Psychological barrier has been lifted.

Ryan Tubridy is the reversal point. Remember that.

Stormington wrote: »

10k? What makes you think it'll 7x its previous ATH?

I don't think it will for a long while (I'd say 4-8 years, could happen in 12 or 2), but the speculative side of crypto makes stupid things happen faster than necessary.
"It could do this!"
Yeah, in a few years, if there are no tech roadblocks.

If your question is more about "Why would Ether be worth any amount at all?" whilst thinking it's just a same-but-different competitor to BTC then there's a lot of reading to do. Bitcoin is designed to be an inflation sponge and despite money going up right now, I think it's underperforming (yet still overvalued). BTC's real ATH will be hit once it's past $21.5k when you factor in inflation since 2017. Which I think is a given soon, even though I'm no BTC-bull.
US debt increased by some phenomenal amount this year (near 20%?), BTC barely raised in comparison. The real money sponge this year was the top 5 tech stocks, BTC is a ways off challenging proven globe-dominating businesses.

Ethereum is a multi-decade thing, not trying to be a store of value but trying to be a fuel for valuable transactions down to the most minute of values and is looking likely to be BTC's most reliable Layer 2 solution (seeing as people are fixated on wealth being held in BTC but also want to transact using BTC but without €50 fees once it gets clogged.) BTC heads even seem to be coming around to the idea, they're defaulting more each day to a position of "Yeah, well if that's how we move our unmovable coin then that's okay now. Oh cool, I can leverage and loan my BTC against many things on Ethereum! Weeee!". Vastly different to 3-4 years ago.

Not gonna be Lightning that scales it anyway, it's the crypto equivalent of being on a private torrent tracker where you have to maintain your ratio and only allow certain amounts, it's very messy, too many problems, too much self-reliance for normal humans & lost BTC in it's short time alive. When people want to transact they can drop X amount either via custodial services that allow you to use Ethereum or via whatever bridge Polkadot or any equivalent builds - which is still custodial but in the hands of many partners who don't want to screw each other over vs in the hands of one company who could have one person with one key and scam off with your money.

Besides that, we're still years away from a good UX which isn't centred around a behemoth custodial service like PayPal - which subtracts 99% of normal people using it, still nerd money no matter what your chosen sh1tcoin is.

One thing that comes up too rarely on the Bitcoin subs (but it does come up occasionally) - if BTC is challenging traditional money or markets in any reasonable way in the future, something very bad has happened and hyperinflation is on the cards if not already happening. Even if you're BTC rich in that instance, either something gravely bad has happened or Q.E. has become so much of a norm beyond what it already has that people are pushing spare money into a speculative asset as a safety feature for value - which we're all doing unless we're just degenerate gamblers *cough*.
Great for people who've been buying earlier, worrying for the world at large.

grindle wrote: »

insert crash emoji
Too much positivity with no normies buying in. Whenever the train stops the 30-40% drop is gonna be hilarious.

It is sound logic and for sure this is one of my scenarios in the short term. But I don’t think it is a given at all.

It is now very clear that *a lot* of institutional money is fuelling this rally, with institutional interest rising by the day. This inflow could prevent such a deep crash.

Very strange bull run, reminds me much more of the early 2017 run rather than the insane late year one.

The alts outside the top 25/50 haven't done much, just tagging along, will be interesting to see if they start to take off at some stage.