Skip to main content

Where is ETH going?

Ethereum, or ETH is the #2 coin, right behind Bitcoin.  It has always been my 2nd favorite coin and it has huge potential.  Those in the know won't be surprised if at some point it comes out the winner over BTC.

ETH has a little brother called ETC.  ETC stands for Ethereum Classic.  Last summer ETH went through what is called a "hard fork".  That is when the codes branch off the code in a new direction. They make small tweaks all the time and send out a new build.  But when they make a large change, that requires a fork in the code.  In this case when the forked version came out, a lot of miners were upset with the changes and they refused to run the new version of the code.  So we ended up with 2 versions of Ethereum.

Because the major exchanges had all already supported the new version of Ethereum and they stuck with the existing ticker of ETH, Now that there was this old version hanging on, they needed a ticker symbol in order to list it alongside ETH, so they called that ETC, or Ethereum "Classic" as-in the version that did NOT include the changes.

What caused the Fork? Well, that's a whole different article.  If you are interested, just search on "ETH" and "DAO" and you'll see the blood and guts story of how it was hacked and millions of dollars worth of coins stolen.  ETH was an attempt to prevent the hackers from cashing in on their ill-gotten gains.

So, what's up with ETH?  After many many months of not much activity, it is flying up in the charts these days.  I held a lot of ETH when it was $12 all the way down to where it fell after the fork, in the $6 range.  I held it for many more months and nothing happened.  As much as I love ETH, I couldn't keep holding a coin that was not performing like all the other coins, so I sold about 50% of my holdings.  Now I wish I hadn't.

ETH is currently at about $220 per coin.  I read a lot of articles lately predicting a price of around $550 before the year is out, if not before the summer is out.  I think that is very likely.  I think ETH will continue to grow and at some point maybe even overtake BTC.

ETC is also finally moving.  I held 1000's of those coins when it was in the $1 range.  Now it is at about $15 and expectations are that it should find a home somewhere around $80-$100.  That's a better return than ETH if it plays out that way.

You can go with ETC if you wish, but the downside to ETC is it doesn't hold as much long term potential as ETH.  ETC just doesn't have the development team and momentum that ETH has.  So, if you are buying ETH or ETC, I would buy some of each.  ETH for the long run and ETC for the possible triple digit returns.

Comments

  1. Josh JarniganMay 20, 2018 at 11:13 PM

    Thanks For sharing. NEON Wallet is one of the best NEO wallets available right now in the market. It allows you to store, receive, and send both NEO assets. Explore more at: NeonBeginner

    ReplyDelete

Post a Comment

Popular posts from this blog

Dride Zero - Dashcam on Steroids

I took part in a Kickstarter project to build "The ultimate Dashcam".  One with front and back cameras that would shoot in HD, was durable and low power, and would upload video clips to the cloud with the push of a button.  We'll after waiting more than a year, they did just that.  I received my Dride Zero a couple of days ago and, other than an initial rocky "Setup" process, it has been working fantastic. This post isn't so much to talk about the Dride, you can get that information from them at https://dride.io.   This is more for those people who might run into the same issues with Setup that I had.  Hopefully this will save them some of the time I wasted trying to figure it out. Dride Zero Getting Started 1) Unpack from the shipping box.   To get started all you need at first is the Dride Camera, the powercord that has the cigarette lighter connector, and a 16Gb type 10 Micro SD card. 2) Insert the 16Gb Micro SD card in the slot...
Post a Comment
Read more

Troubleshooting a Discourse Update on DigitalOcean: Resolving Unresolvable Errors

For the past three years, I've maintained a Discourse server on a DigitalOcean Droplet. Recently, I decided to update it with some of the latest Discourse features. What I anticipated to be a straightforward update process turned into several days of frustrating setbacks. The version of Discourse I was running was already three years old, so I assumed that running the built-in "Update" feature would suffice. However, after clicking the update button, the progress bar sluggishly crawled forward over the next half hour, only to display the dreaded message: "Error – Update Failed." The logs provided little to no help, but based on my experience with other software updates via GIT, I suspected that the failure might be due to the repository head still being called "Master." In recent years, there has been a shift away from using "Master" as the repository head, with "Main" becoming the preferred term. Despite trying several methods ...
Post a Comment
Read more

Ethereum Merge - So What?

Artwork by Steven Grundy The long awaited Ethereum "Merge" is finally upon us.  I've heard people say "So what".   So what?  I think they don't understand the implications of the merge.  Either that or they really are betting against Ethereum. I think this upgrade is probably the biggest thing for Ethereum since smart contracts first came out.  This change has the possibility of upsetting the apple cart in terms of Ethereum and BTC.  That's a big claim, but I really think it's possible. The Ethereum Merge has been set for the week of September 19th, 2022.  The merge is when the Ethereum execution layer will be joined with the new proof of stake consensus layer.  What does that mean and why should I care? What it means is that Ethereum will be changing from an energy intensive Crypto coin like all others to a 99% more efficient crypto coin like only a few have done.  Right now Ethereum is mined just like BTC and a host of other Crypto cur...
Post a Comment
Read more