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Reasons why ethereum will fail

Октябрь 2, 2012

reasons why ethereum will fail

There is a shortage of stable tokens which requires the current situation. Also it's not easy to spend ETH, there aren't shops accepting ETH like it is currency. If you choose to use the low-level call methods, make sure to handle the possibility that the call will fail, by checking the return value. Beiko predicts that the old network won't gain traction like Ethereum has, and will fail to attract all the previous miners. BETTER PLACE REALTY REVIEWS ON IPHONE

Instead it merely laid the groundwork for further infrastructure that could solve its problems in the years to come. Anyone who hoped that Ethereum would look or run completely differently on Thursday would have been disappointed. Cryptocurrencies are heavily impacted by major market forces. While crypto was designed to hold value independent of the stock market, the two are still very much entwined.

Over the last few years, tokens like Bitcoin and Ether have risen and fallen in correlation to larger market trends. This year, Ether prices have been depressed ever since the Federal Reserve announced its intention to institute a series of aggressive interest rate hikes in order to combat inflation.

High interest rates dissuade consumers from investing in more risky assets, which includes crypto. Ether, naturally, fell amidst the downturn. Investors worry about regulation. Is Ether a security? Remember a lot of people made a ton of money from Enron before the illusion collapsed. The road ahead for Ether will be harder and harder, as new competing projects with more competent developers show up, these projects will put the nail in Ether's coffin.

I will name two projects, Qtum and EOS. Why will Ether collapse? As more and more tokens are created, large sums of ETH is taken out and set aside, this creates a bubble. Most of these tokens if not all have a monthly burn rate, which means they all have to dump ETH to supposedly fund their projects. Some projects are now accounting for that by giving the developers the ability in the contract to divest a large sum of Ether if the need arises. So as we go forward one Ether bad news could send all these projects on a run to the bank and cashout of Ether while it's still worth it.

This is not an assumption, bad news happen, and with incompetent developers it happens more often. These contracts which are pushing Ether prices ever so high, will be the cause of it's crash. Here comes the competition, as people start to realize the problems plaguing Ether code, they will migrate to safer and better options.

No one denies that Amazon is chief when it comes to the cloud, but Google and Microsoft are cutting into the market share. If Amazon suffers problems in the future it won't be hard for one of the two to jump in and fill the gap, even take the lead. The same will happen with Ether, and I do not find it hard to believe that either Qtum or EOS will one day take the lead.

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Many questioned whether it was necessary, and if it was better than ICOs or traditional VC funding rounds. Then the whole project exploded when a hacker exploited a security vulnerability in the DAO code, and tens of millions of dollars were lost in the fallout. Eventually, Ethereum developers hard-forked the blockchain to reverse the theft, which literally split the cryptocurrency in two. This episode caused many cryptocurrency enthusiasts to question the ability of the Ethereum community to make responsible decisions — concerns that still echo today.

Scams This reason is closely related to ICOs. A widespread suspicion exists in the cryptocurrency community that many — if not most — ICOs are outright scams, with their organizers trying to get rich quick. Since Ethereum is the main platform for ICOs, you could argue that the cryptocurrency platform enables scammers — who in turn are really one of the only reasons Ethereum is so popular right now.

Volatility Ether, the crypto-token powering the Ethereum network, has an extremely volatile market value. So volatile, in fact, that it is the focus of cryptocurrency speculators and daytraders across the globe, who trade the token as a way to make a fast profit. This decline was caused by rumors that Ethereum creator Vitalik Buterin had died in a car crash. Luckily for Ethereum, the news turned out to be a hoax — Buterin is alive and well.

So there are the top five reasons why Ethereum will fail. But its supporters still use them to trash Ethereum. Is it jealousy of the hype surrounding the altcoin? Could it be fear that Ethereum will overtake Bitcoin? WhatsApp Advertisment Even though we highlighted some of the Ethereum criticism before, these are not the only issues its network has to address. It is disappointing to see such a prominent ecosystem hindered by technical issues, ideological decisions which can easily backfire, and other factors which may eventually spell disaster for Ethereum.

Below are some of the downsides Ethereum users and investors should be aware of. Cryptocurrency ICOs are a Risk Even though virtually every company or project looking to raise money wants to conduct an Ethereum-based ICO, these crowdsales can have negative repercussions. A lot of these projects will eventually liquidate the amount of ETH raised and dump it on the market. Not only will this affect the Ether price negatively, but it also shows Ethereum is merely a facilitator to raise funds, rather than technology these companies believe in.

It is only a matter of time until the influx of cryptocurrency ICOs backfires on the Ethereum ecosystem. There is no guarantee all of these projects have legitimate intentions. While it is true Ether allows people from all over the world to invest in ICOs, there is never a guarantee for success.

Exploits and Weaknesses Even though many companies join the Ethereum Enterprise Alliance , they are not necessarily aware of the issues this network has. We have seen two major exploits discovered and used, both of which resulted in massive amounts of funds being stolen. The first exploit is the DAO smart contract bug, and the second exploit showed how Ethereum has no secure multisignature wallet solution currently.

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