Crypto Entrepreneur Lane Rettig Shares 12 Reasons For Being Bullish on Ethereum (ETH) Still
Crypto Entrepreneur Lane Rettig Gives Twelve Reasons Why He is Bullish About ETH
Lane Rettig, founder of the community Crypto NYC and entrepreneur, has given twelve reasons why he is bullish about Ethereum (ETH), the second most valuable virtual currency in the market.
He starts his blog post saying that he is more excited about Ethereum today than at any point in the past. However, he explains that he is not talking about Ethereum’s price but about the technology and the ecosystem in general.
The first reason he gives is about the release of the Ethereum 2.0 roadmap. He says that Casper and Sharding will take a while longer to be unveiled but developers have been working on it during the last year. Moreover, he says that several developers have joined Ethereum and started to work on it.
Additionally, the second point he mentions is related to Maker Dao and how it’s working. He says that it was able to survive the insane bear market and collateralization never fell to dangerous levels and new CDPs continue to be opened. Maker continues to grow, showing very positive feedback from the community. About it, he said that he has noticed people n the community using Dai regularly to replace fiat currencies.
After it, he mentioned the third reason. He said that Wallet UX is getting better every single day. He makes a comparison between today and one year ago for wallets such as imToken, Coinbase Wallet, Walleth, Trust Wallet, and others. All of them have made substantial improvements on their UX. This is something that have an impact in the community.
The fourth reason is related to the Loom project, which is substantially growing and improving. Rettig says that they have real and usable game known as Zombie Battleground which is built on a working Plasma implementation.
The next reason he gives is that more and more Ethereum clients are being developed. In the last months, the space has seen the introduction of Nimbus, Pantheon and Lighthouse. These clients, he says, are being developed by large and professional teams.
Staking is the sixth reason he gives about why he is bullish on Ethereum and network growth. He gives the example of Livepeer tokens (LPT) and how he staked these coins for three weeks obtaining a 47% return during that period.
About it he explained:
“Economically speaking, earnings will decrease as more people mine and stake their tokens, but as more projects enable staking (including Ethereum itself) and as the UX improves, staking will have enormous potential to become the ‘savings account of the future’ for millions of people.”
The 7th reason is related to Ethereum's Governance and how it is steadily growing. Rettig mentions that in the last months there has been a lot of progress related to different projects. For example, the Fellowship of Ethereum Magicians and #EIP0 movements.
Even after a year since Parity funds were frozen after an attack, the community has not been divided. This has clearly contrasted with Bitcoin and how it was not able to have a community united.
The 8th reason he gives is related to the increasing educational resources that continue to appear in the market. For example, he mentions the creation of Cryptoeconomics-study with its free and open online course, Blockgeeks and the production of excellent material and more. Then he talks about chainshot, Ethernaut and many other examples.
The reason number 9 makes reference to the funds that the ecosystem is gathering. He says that he cannot keep track of them. This would allow Ethereum projects to raise capital and continue the work they are doing. We can mention some examples such as the Stable Fund, ECF, Status Incubate, ETHPrize and Aragon Nest among others.
All the teams behind these funds want to provide new possibilities to capable and professional teams that are working on the ecosystem.
Furthermore, the 10th reason he gives is that companies are starting to use the applications that they produced. He says that it is not possible to call Ethereum or Web3 a success if applications do not replace the constellation of centralized Web2 apps and services.
Status, for example, announced that they would be replacing Slack with their own product, Status. The same is happening with other projects such as BRLN coin and Zinc.
The 11th reason makes reference to SpankChain. Rettig says that the company has built a thriving ecosystem. He mentions that the team behind SpankChain has developed a beta cam site with a micropayment tipping functionality. Additionally, they have also developed a staking system known as SpankBank.
In the near future, SpankChain could ship an in-house and state-channel based decentralized virtual currency exchange.
The last reason he gives, the number 12, is the Ethereum community. In the last year, and after the bull market experienced in 2017, Ethereum enthusiasts have expanded all over the world. He says that the community is extremely healthy and that it continues to grow everywhere.
He says that people need to attend to events such as EthCC or ETHGlobal hackathon to really understand what he is trying to explain.
“I feel strongly that the size and strength of the Ethereum community will continue to set it apart from the foreseeable future,” he says. “It’s a community of missionaries, not mercenaries.”
Ethereum is the second most valuable virtual currency in the market after Bitcoin (BTC). ETH has experienced hard weeks since its price dropped under $200 dollars. At the moment of writing, Ethereum is being traded around $210 dollars and has a market capitalization of $21 billion dollars.