Quote from: jpoker272727 on March 04, 2017, 06:34:54 PM

Why do you think that app tokens have no value, when we are able to trade it for bitcoin in exchanges?

The ability to trade something doesn't necessarily give it any particular value. I said they have no utility and thus no value other than as a unit of speculation. But the supply of units of speculation is not going to be limited, as everyone jumps on board offering Ethereum smart contract project app tokens.

My point is that when someone makes a project that enables apps to be monetized by some means other than app tokens, then those app token projects will have competitors who have viable business models, whilst app tokens have no utility and thus are not viable (per the reasons provided in the OP). So app tokens will collapse in value at that point. And I think that will be coming soon enough (perhaps in 2017).

Quote from: iamnotback on March 05, 2017, 10:31:01 PM

Quote from: btcdevil on March 05, 2017, 10:28:25 PM

Ya it is true that latest their are so many ICO which are performing their project on Ethererum Platform so this is a good for ETH as this all project coins have to move through eth network and for all transaction you have to pay gas through ETH

Unless you consider the possibility of my point which was that ICOs may drain (cannabilize) ETH into app tokens (which presumably might be sold for BTC or fiat by those issuing the ICO) if you don't have new money entering ETH from BTC. Also there could be 0 gas demand for these app projects since they seem to mostly be delusional "scams" which will never attain any adoption.

I tend to agree there will be a near-term speculators wet pants boost for ETH, but long-term I see Ethereum as a massive failure in the making. I see the app tokens ICO proliferation as the last hooray for ETH and it will die smoldering in hacks and the inherent lack of utility of the concept of an app token and the proliferation of pie-in-the-sky "scam" projects. Besides Ethereum can't scale to massive adoption. And Casper (PoS plans) can't scale decentralized (c.f. the Ethereum Paradox thread). And the competition is coming...

Ethereum will be known as the scammers and hackers paradise ecosystem after this. I'm waiting for someone to do a Bruce Wanker-style subtitled YouTube with Coolio's Gangster's Paradise as the video and background music.

Okay the wildcard is that via all the experimentation that some Ethereum app becomes a killer app of blockchains and Ethereum copies my decentralized blockchain design (but do you think I am going to let them to that!). If the experimentation does produce any good ideas, the community will just steal it over to the blockchain that can scale. In short, I don't think Ethereum has anything special. Even the model of a Turing-complete blockchain is prone to hacks.

Well Ethereum has one thing special, which is it enables massive, permissionless (decentralized) experimentation and speculator demand. This also brings more people into the crypto ecosystem. Sometimes the details are less important then the main theme as stated in the prior sentence.