This will be me pointing out some flaws and downsides about Ethereum, this might create hate and controversy but it is the way I see it, it is my opinion alone despite being directed in one way.
For starters, Ethereum is lead by a very young and immature developer who has claimed to be a benevolent dictator, how far from freedom and decentralization is dictatorship? To me it is nothing more than another Russian who has been influenced by the russian way of living and values, true communist.
Ethereum has smelled scam since the start, a lot was premined, there were a lot of insiders who also got lots of Ethereum tokens, I should list more here but this is getting too long already.
Last year it forked and broke one of the most important rules, code is law. To me they lost all respect, specially because they did it for their own good, not for investors sake. Not gonna say anything else on this matter.
Look at this chart, 5 bottoms happened on that support line. It never happens like this. To me this are Eth early whales, market makers and dumb money coming in that is keeping the price above that line, if it ever breaks, things will most likely become ugly.
When will the next ICO dump another 30M Eth?
They will have to cash some out eventually, and there is a great percentage in the hands of all those ERC20 token ICOs,
I foresee hard times ahead with such centralization.
Do not forget that many of these ICOs might migrate to some other blockchain in the future too when other platforms are ready to host them. I believe Civic is one of the ones that will do this in the future (not sure tho).
I am not saying Eth will die, and this is kind of an hate post, not because I want Eth to fail but because there is so much dumb money going into it that might affect the whole cryptoworld.
When you have enough money, everything that matters is power.
Hope everyone starts throwing rocks at me and calling me names as I am here to learn and discuss both sides of the coin.
