Quote from: DNotes on April 12, 2016, 08:12:54 PM

Quote from: CryptoBroker79 on April 12, 2016, 07:46:32 PM

What does everyone think of the recent price drop in Ethereum? They lost over 500 million from their market cap in less than a week.

In my opinion they've gotten way ahead of themselves (going against Alan's advice), and taken on more investment capital than they know what to do with. The only applications that have actually been produced are dice games, gambling apps, ponzi "businesses", pyramid "businesses"; The rapid ascension in price has certainly attracted some unsavory characters.

All this aside, the failure of an entire billion dollar currency at this point would be disastrous for our industry's reputation, so let's hope they can get back on track.

They are the closest to implementing on a large scale a sustainable cryptocurrency based on blockchain services. The excitement got ahead of real demand for their services, but I'm pretty confident they will continue to build and grow their development. You are right, if they lose their value to quickly it won't be good for our industry.

The market value at a $1 billion appeared rich at this stage, so a drastic price adjustment is not a big surprise. However, they are among the most promising in terms of smart contract applications, though I have yet to see solid use cases.

My reservations are that Ethereum will likely see competition and Ether is technically a utility token; not a currency. Having said that, I have a great deal of respect for what they have accomplished.

Industry wide, I am troubled by the huge participation and investment in anything "blockchain". Personally, I fear that the vast majority of them are going for a "wild goose chase". The most fundamental thing about Bitcoin and digital currency is that you can only spend it if you have it in your wallet. You can not create money out of thin air or write up IOUs. When an asset of value is committed to the blockchain to guarantee a certain value that amount must be of full and equal value. Anyway, this is only one example.

I don't want to get way ahead of the game, but what DNotes is doing is to understand all the issues and position ourselves to provide the most viable and best solutions. I am very comfortable that we have the solutions. We have been building for the solutions block by block. It takes a lot more than just being "me too."