The hype train

For the last few months, everybody has been
going on and on about Ethereum, and how awesome it is. I have heard people talk about how it will take over from Bitcoin, and that it will be the future of blockchain technology. I can admit I got sucked into the hype too, I even got some ICOs because of Ethereum, which is something I never do because of the risk of loss. Everybody wants a part of Ethereum.

Now don't get me wrong, I am not a hater! I still mine and like Ethereum, but there are issues that I am worried we cannot come back from. The sudden explosive success of Ethereum coupled with the over saturated market for ICOs using Ethereum and we have a problem. The ICOs are congesting the Ethereum blockchain to an unusable level.

Ethereum Is changing!

If there was one thing that can reliably cause a drop in price for any asset or commodity, it is uncertainty! We all know Ethereum will go to proof of stake at one point. This creates more uncertainty than I am comfortable with. Proof of stake is going to be either the best thing Ethereum has done or it will completely destroy it. Let's face it, unlike Proof or work, proof of stake coins tend to go down in value as time goes on. There are several reasons for this, and most of them have more to do with people's lack of interest than a problem with the technology.

Conclusion

Let me be clear, as a holder and miner of Ethereum, I want it to succeed. But I have genuine concerns as to its future! How long will the blockchain be congested? Will the overuse of ICOs drag down the currency? Will proof of stake make or break Ethereum? How hard will it be to stake?

I don't know, but more importantly nobody does. This uncertainty makes investing in Ethereum more risky than before. Please let me know your opinions in the comments.

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Happy Mining!

Viking