Why is Ethereum performing like garbage?

[polonieth]

Ethereum is so cooked man, is it ever going to go up?! Perpetually stuck in a soy boy downward spiral

I know it's looked dead before, then DeFi season came and it blew up and defeated all the FUD. But $1800 as I write this, when will it be $4k again? Swap fee is like 30 cents now lol.

Why do you think it's doing so badly? Soy Boy Foundation?

 

[wellington]

ISM... *Business Cycle*

 

[jeffbean]

Because crypto is down overall

 

[polonieth]

jeffbean said:
Because crypto is down overall
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OTHERS/BTC 4 red monthly candles in a row

 

[Matade]

Ask yourself this. Why would anyone buy a bloated piece of centralized token platform that will get cracked by quantum computers in 3-5 years anyway.

 

[polonieth]

Matade said:
Ask yourself this. Why would anyone buy a bloated piece of centralized token platform that will get cracked by quantum computers in 3-5 years anyway.
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If quantum computing is your bear case, then you may as well short absolutely everything digital...

 

[Matade]

polonieth said:
If quantum computing is your bear case, then you may as well short absolutely everything digital...
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This is a wrong take. You should only sell decentralized cryptos. The centralized entities will be completely fine as they will simply transfer to post-quantum encryption algorithms. Bitcoin and Ethereum and rest of decentralized cryptos will die. This is the elephant in the room nobody is talking about and pretends its not there. It's not priced it.

 

[polonieth]

Matade said:
This is a wrong take. You should only sell decentralized cryptos. The centralized entities will be completely fine as they will simply transfer to post-quantum encryption algorithms. Bitcoin and Ethereum and rest of decentralized cryptos will die. This is the elephant in the room nobody is talking about and pretends its not there. It's not priced it.
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If crypto like BTC and Eth dies, so does 95% of digital infrastructure.

 

[void]

it performs like garbage maybe because it's garbage...
if I had to choose with the gun pointing at my head a crypto gadget I'd definitely choose SOL over ETH

 

[Matade]

polonieth said:
If crypto like BTC and Eth dies, so does 95% of digital infrastructure.
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What do you mean digital infrastructure? Cryptocurrencies? Yes, they will die within 3-5 years completely once China or West breaks encryption via quantum computers. Nobody's talking about this, because it's too horrible of a realization to admit. Centralized banks, EMIs, brokers will be fine. They will just transition to post-quantum cryptography.

 

[void]

Matade said:
What do you mean digital infrastructure? Cryptocurrencies? Yes, they will die within 3-5 years completely once China or West breaks encryption via quantum computers. Nobody's talking about this, because it's too horrible of a realization to admit. Centralized banks, EMIs, brokers will be fine. They will just transition to post-quantum cryptography.
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hmm, so banks can use post-quantum algorithms but bitcoin and crypto can't?

if one day quantum computing threatens currently used encryption it will represent a global scale issue (as human race currently depends on the internet and encryption) that will be solved on time - the bigger problem is all the captured encrypted data from the past that might be readable all of the sudden 😉

 

[polonieth]

void said:
it performs like garbage maybe because it's garbage...
if I had to choose with the gun pointing at my head a crypto gadget I'd definitely choose SOL over ETH
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SOYLANA over ETH? The chain that goes down all the time.

All it has is meme culture, but even Pump fun volume is well down after so many LA Vape Cabal rugs. I guess Dave Portsoy's GREED5 will save it

If you want to mess in the casino, may as well use Pump.tires on pulsechain. At least it burns Pulsex.

 

[void]

polonieth said:
SOYLANA over ETH? The chain that goes down all the time.
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yet ETH is clearly losing to SOL... so better stick with bitcoin, clear your head and relax

 

[10101]

Matade said:
This is a wrong take. You should only sell decentralized cryptos. The centralized entities will be completely fine as they will simply transfer to post-quantum encryption algorithms. Bitcoin and Ethereum and rest of decentralized cryptos will die. This is the elephant in the room nobody is talking about and pretends its not there. It's not priced it.
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These networks like BTC, ETH can implement post-quantum cryptographic algorithms through protocol upgrades, just as centralized systems can.

 

[Martin Everson]

polonieth said:
Why do you think it's doing so badly?
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Solana


P.S It does everything faster and cheaper. Even TRUMP launched his memecoin on SOL rather than ETH....lol.

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[polonieth]

Martin Everson said:
Solana


P.S It does everything faster and cheaper. Even TRUMP launched his memecoin on SOL rather than ETH....lol.
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But Trump did buy $400 million of ETH...

 

[Martin Everson]

polonieth said:
But Trump did buy $400 million of ETH...
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Yup and he kept his promise of bringing down prices starting with ETH smi(&%

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[Shadow Atlas]

Just to give us all a comparison: Ethereum reached a peak of 1.09 million daily transactions a few months ago. It is currently valued at 226 billion.

That valuation is compared to both VISA and Mastercard, who both have ~260 million and ~200 million transactions.... per day.

We live in such a financialized economy, that balance sheets and having a profitable business mean nothing anymore.

 

[cherry]

Monero devs are already preparing for quantum launches. I'm sure other devs are too.

 

[Matade]

10101 said:
These networks like BTC, ETH can implement post-quantum cryptographic algorithms through protocol upgrades, just as centralized systems can.
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If you actually were to research this subject in detail, you'd how unlikely and complex that is and that it most likely will just crash to hell instead of safely transferring with no issues. Trust me, it won't happen. With quantum, most cryptos we have now are DONE. This is NOT priced in.