The tech-savvy cryptocurrency, etherium , has recently been under a lot of fire from within the crypto community due to its lack of real world adoption.
“It’s just a bitcoin clone,” said one Reddit user in an online forum discussing Ether ‘s future viability, “It’ s just trying to be another Bitcoin but it really is nothing special at all.”
The currency, which was first introduced to the world in late 2013, has only recently began gaining mainstream traction after it hit an all time high of $14 per one ETH coin during April’s ‘ether boom’; a sudden spike in interest and coverage regarding Ether triggered by the currency climbing over Bitcoin as the second-most valuable cryptotoken in the world.
However, ever since this [ether] boom [in 2017], Ether has been on a steady decline, and many people are becoming pessimistic about its future outlook. You can find guides for investing in crypto on https://www.gpucoin.net/, that may be useful.
” I just don’ t understand why anyone would be interested in it,” said another Reddit user who claims to have been involved with cryptocurrency since the early days of Bitcoin . ” I mean, what does it really offer over Bitcoin ? Sure, it’s a little faster and easier to use on some levels, but that’ s basically it. So what?”
With Ether only gaining a fraction of its original value after hitting an ATH weeks ago – currently trading at around $225 – many have speculated that this lack of real world adoption is going to be the currency’s downfall.
“I just think it’ s a really, really well-made clone,” said a third Reddit user in response to another user asking what they thought Ether was doing better than Bitcoin . “It might be slightly better from an engineering perspective, but that’s about it. If it weren’ t Ethereum, but instead was called Etherium or something like that, I think its price would be in the same ballpark as Litecoin; in the low $20 range at best.”
Despite what may seem like an inevitable decline in interest surrounding Ether, many remain hopeful for the currency’s future.
” Look, it’ s trying to be something different than Bitcoin , and that takes time for people to get used to,” said another individual on the same forum. “I believe this is just a speed bump; everybody knows Ether has potential.”
However, until Ether can gain widespread adoption throughout all sectors of the real world – not just limited to the cryptocurrency community – many will remain skeptical about its true value.
” I think it’ s pretty obvious that [Ether’s] price is going to keep dropping,” said a somewhat nihilistic Reddit user in a separate discussion thread. “It has no real use case.”
In response, another individual noted: “[Ether’s] mainstream appeal is only about 1% of that of Bitcoin , which means it has a long way to go before even getting close to what Bitcoin can do.”
One Reddit user agreed with this sentiment, but claimed that “it’ s not about competition, really. I think Ether could be better for some things than Bitcoin , so it would be nice if both currencies could exist at the same time and serve different purposes. [Ether] just needs to get more attention, that’ s all.”
Since cryptocurrency is a market that thrives on ‘out with the old, in with the new’, most experts agree that Ether will only continue to decline until its real world adoption catches up with Bitcoin ‘s.
” I think Ether is just having growing pains,” said Sebfor, an online cryptocurrency dealer. “It’ s young, so it has its problems; but if history tells us anything about the real world of cryptocurrency , it’ s that this sort of thing is all a part of growing up.”
Others disagree with this sentiment, stating that there is no place for cryptocurrencies like Ether and Bitcoin in today’ s society.
” Cryptocurrency is a fad,” said one individual on Reddit . “It’ ll fade away as people realize how useless it actually is.”
Without widespread mainstream interest, it may be difficult for Ether to gain any real adoption within our current system.
” I just don’ t see how Ether is going to continue to exist once Bitcoin reaches a more mature state,” claimed another Reddit user, who thinks that Ether’s value will never reach the heights of Bitcoin ‘s someday. “It’ s like comparing an alpha version of some . 0 new software to Microsoft Word; sure, it’ s what everybody was using at the time, but it’ s really not that impressive.”
Ether will need to gain widespread use within the global economy if it’s ever going to reach Bitcoin ‘s size. However, until cryptocurrency becomes commonplace in our world – something that some are doubtful will happen anytime soon – Ether may be destined for a slow decline in interest and growth.
” Ethereum is going to have a tough time competing with Bitcoin ,” said Sebfor, “because of the technological differences between the two – not because of any trivial moral arguments.”
Ether does have a lot more potential than most other cryptocurrencies on the market today, but that doesn’t mean much if it can’ t gain widespread adoption.
” What I think [ Ether needs to do ] is appeal to a wider audience; not just people who are looking to make the next dollar, but ordinary consumers,” claimed an individual on Reddit . “It’ s far too technical for average folks.”
The world of cryptocurrency continues to be shrouded in mystery due to its complexity and lack of widespread understanding, which means Ether has a long way to go before it even comes close to competing with Bitcoin ‘s current market value.
” It’ s [ Ether] too early in the game,” said Sebfor. “Bitcoin is going to stay on top for some time.”