I read an article yesterday describing Ethereum as a bubble because of it's ICO feature. The argument is that anyone can start an ICO (Initial Coin Offering) and their created token may not have any real value behind it except for the value being pumped into it by Bitcoin and Ether. They believe a lot of these ICOs don't have any real developers behind them and some of them are getting 100 million dollars in funding. Personally, I don't see this as a scam. If you can raise 100 million in capital you can build a development team pretty quickly. This is different than the internet bubble of the late 1990's. Individuals are able to create value out of nothing, much like the government has been doing for centuries.
Money Talks
Many big corporate players are investing heavily in Ethereum. Microsoft, JP Morgan, and Intel are building a financial app together within the Ethereum network. Either they know something we don't or they don't want to miss out when everyone moves towards the blockchain. We're already seeing this paradigm shift happening before our eyes. With the recent surge in Bitcoin, Ethereum, and other ALT coins people are jumping on the opportunity. There was a small crash recently, but nothing compared to the huge gains made over the last few months. I don't know when, but once the momentum builds back up I believe Ethereum will reach $500 and Bitcoin will reach $3000.
Fake News
For years people in the Media, bloggers, etc have been planting the idea that Bitcoin is just a bubble waiting to explode. Every time Bitcoin "dies" the price seems to go higher. It definitely is showing the signs of a bubble, so I understand the argument. My problem is everyone ignores the dollar bubble about to burst. Since Bitcoin is a fixed supply it can't be nearly as much of a bubble than the US Dollar. The United States is in more debt than the whole history of the world. We borrow 3 Billion dollars a day to cause mayhem around the world. The Dollar only maintains its value because oil has to be purchased with Dollars and it's a reserve currency of the world.
Open your eyes
People are waking up, countries around the world are working together to get away from the Dollar. When this happens the Dollar is too weak and will collapse. Most will start moving their money to items that hold value. Gold and silver are usually people's first instinct. I think this time will be different though, as cryptocurrencies increase in value and the economy get's worse people are going to put their money in digital assets. A lot of people fail to realize that cryptocurrencies are digital versions of fiat. The difference is fixed supplies. There will only ever be 21,000,000 Bitcoins in existence. The Dollar has trillions in circulation and it's not stopping. The US dollar can be printed however much they want which in return hurts low income families and citizens.
Help me
I have many non-technical people messaging me about Bitcoin. A couple of years ago I kept telling all my friends about cryptocurrency and no one wanted to hear about it. The whole time I'm ignored, I'm stacking as many coins as I can away. Within two months these coins explode in value. Now people are reaching out to me because they knew I had been speaking about it. The most common question I have been getting is, "How do you buy Bitcoin". I always send people to Coinbase, because it's the most user friendly way to buy Bitcoin in my opinion. Coinbase does have higher fees, but it's a great starting point to join the movement.
Thanks for reading. Please Up-vote, Comment, and Follow.
Sincerely Yours,
@johnnyyash
