When it will be possible to send ZK-snark tx with DAI it'll be another huge boost.
Also when there will be quality decentralized market places paid for with the fees, the costs will be drastically cut, and the revenue will move from Amazon to ETH.
A good summary of where Ethereum is going, but dear God the comments section is intellectual carnage. Everyone shouting about their favourite coin being the bestest ever and how it'll defeat everything else given time.
Taking those comments as my cue, here's my opinion on how the crypto world can be categorised:
Best brand recognition - Bitcoin
Best practical privacy - Monero
Best chance of actually delivering Decentralised Finance to the masses - Ethereum
Over the next couple of years we'll see the mighty Bitcoin fade because Ethereum 2.0 (backed by vast amounts of developer expertise - as seen at DeVcon) will switch to Proof of Stake and introduce multiple scaling options. This will finally make DeFi a realistic option for real world payments (riding the metro and getting your cup of coffee). Once the payments problem is solved then interest bearing savings accounts will rapidly become available (they already are just not everyone has one yet). Then long term loans with flexible payment conditions to match income streams (mortgages).
With scalable DeFi the financial instruments become near limitless. Further, having interest bearing assets in a world of climate change (economic slow down) and negative interest rates (such as much of Europe) is extremely attractive to institutional investors.
There will always be a market for those who want financial privacy, and Monero has the track record to guarantee fungibility of its tokens. It is possible to use zkSNARKS (or other zero knowledge proofs) on Ethereum to hide operations but the red flag of actually using one may be sufficient to stop a transaction in some jurisdictions. Consequently, a rise in the use of Monero seems inevitable.
Excellent post. Spot on.
But I think Bitcoin has so much momentum that it will power on for a good while yet, even if its utility declines with respect to Ethereum. Certainly, professional money will stay in BTC long after the hedge funds and family offices start taking punts on ETH. And one condition for authorities accepting crypto into the regulatory system will be saying goodbye to privacy coins. I'll bet untraceable BTC or ETH will soon be declared non grata.
Yeah ETH 2.0 and use cases. EVM compatibility comes in Phase 2 late 2021.
My bet is that we see ETH 1.X scaling solutions bring these use cases to the forefront before then. (Matic, Arbitrum, Interstate, Plasma Group, Counterfactual, BloXroute, etc.)
Also, you should take a look at ErasureBay from Numerai. Selling zero days on there could be interesting.
Phase 2 is now possibly to be implemented much sooner and together with phase 1. I will look for a reference.
It was over 20 million. At the time 3 eth/block \* 4 block/minute \* 60min/hour \* 24hour/day \* 1440$/eth = 24 million $/day. And it was actually higher because back then uncle rewards were in addition to block rewards.
Talking about previous time we were over $1000 or last ATH, it'll still be the same if we get up to those prices again they'll be unsustainable, unless issuance can be cut massively down with PoS and forking the PoW chain to use it.