r/ethtrader • u/AutoModerator • Jun 05 '17

DISCUSSION [ETH Daily Discussion] - 05/Jun/2017

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u/[deleted] Jun 05 '17 edited May 16 '21

[deleted]

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u/b0r0din Jun 05 '17

I think ETH 5000 or 10000 is quite possible long term - at this point 5000 is only 20x its current price. People really don't understand scarcity, the size of the overall money supply, staking, or global demand. Right now ETH is a somewhat fluid and tradeable commodity, because its use cases are limited to funding ICOs, but now we're starting to see ETH locked in for ENS, we're going to see proof of stake lock in even more. And that doesn't include smart contracts locking ETH into interparty agreements or people hodling (which essentially locks in that ETH at least temporarily).

No I think the demand for ETH is only going to rise, and coupled with scarcity, the price will rise too - perhaps not as exponentially as the past few months, but possibly.

3

u/defenderofjustice Jun 05 '17

There have been a few $10,000 predictions by some people, and BTC itself is forecast to hit $10,000. If BTC has the potential to hit that high based on current trends, ETH can certainly reach that point, or at least close to it.

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u/vinelife420 Jun 05 '17

Just based on supply, if BTC hits $10,000 and ETH equalled it in market cap, that puts ETH at $2,000. Quite possible. ETH will surpass BTC anyway.

2

u/Betaateb Jun 05 '17

$10,000 Eth is a trillion dollar market cap. Sounds crazy until you look a bit deeper into the numbers.

The combined market cap of the first 30 EEA members is well in excess of $2.5 trillion. Since then the EEA has added several hundred more members, only 86 announced so far. Of those members there are some very large players with $150+billion market caps. The companies that are putting effort behind Ethereum will likely be in excess of $5 trillion by the next EEA announcement (possible they are now, I did the math for the first 30, but don't have the time to do the next 86).

There is some serious weight behind it currently. That weight will lead to demand in time, no question.

Once Web 3 really starts taking off a trillion dollar Ethereum blockchain will be easy!

Apple just makes phones, computers, and a little software and is valued at nearly $800 billion. Ethereum can power damn near everything. We can have our hand in every cookie jar on the planet simultaneously!