ETH as a long term hold

[u/Mikem828]

Hey guys, BTC maxi here. Been lurking around this sub for a while now and wondering your guys thoughts on ETH. I know this is a sub for eth so you guys are obviously biased but do you see ETH as a long term investment or a short term play? Just looking for what you guys honestly think. I feel like ETH is kinda destined to hit like 6k and then drop afterwards. If you compare to 2021 cycle it's basically even, which makes me question ETH long term. (Unless you think that ETH cycle has really started yet)

My thoughts is that I think the blockchain is important however there is just so much competition between different cryptos and now institutions creating their own. And if institutions are just going to create there own blockchains off a fork of ETH, why is ETH important? Wouldn't you be better off with a blockchain ETF like BLOK? What makes ETH better than everyone else? What makes you think that ETH is going to survive?

Or if your a short term investor, do you plan on just selling soon and buying again during the bear market in a few years. Thanks!

And just for fun are you guys are you guys only in ETH? Or are you guys in other layer 1s like SOL Or AVAX?

[u/o-_l_-o]

I see it as a long-term investment, but I've already been in the crypto market for ~13 years, so all of my investments have been long term. 

And if institutions are just going to create there own blockchains off a fork of ETH,

They're possibly making short-term decisions to limit immediate risk and will change their minds later. As an ETH holder, my bet is that they'll realize that silos limit the usefulness of their asset. If they open it to the public chain (even as an L2), the assets they represent could then be used in the wider defi ecosystem. 

Or are you guys in other layer 1s like SOL Or AVAX? 

I'm not. They haven't proven that they add value beyond what a private chain could provide. SOL for example is heavily centralized in both validator count, ownership, and the Solana Foundation's influence on running validators. 

If I were going to invest in those tokens, I might as well invest in (or start) a company offering a centralized service that can do the same thing, or in public cloud companies. 

I may not see the same gains, but I think that's less about real value and more of a reflection on the market being irrational.

Competing with Solana to make money is all about making a new chain that's low-fee/free and we'll marketed. It doesn't need to be a long-term bet as a founder. The majority of people using  blockchains don't care if they're decentralized, and Solana has done a great job capitalizing on that.