Why I keep accumulating ETH
Im not telling anyone to but now, but im going to give my perspective.
I have been in crypto since 2013 and run a large crypto meetup in So Cal. I have seen enough insanity in this space to the point that things don't surprise me anymore. The fact is 2017 was bad and good year for crypto. Prices increased like crazy which brought a lot of greed and stupid money with it. At the peak of the bubble people were coming to the meetup to talk about a new shitcoin that heard about. I even had few bitconnect advocates. Many ICO were contacting me to promote their new shinny projects. At the height in the market i had real feeling of anxiety that this will not be sustainable and we can see it wasnt. However there is bright side to this many developers started to attend the meetup and many got interested in the tech. The fact is last year brought a lot of great mind to this space. There are many startups and incubators here in California that is working on Dapps and other blockchain projects. The fact is the new development in blockchain today operates as a regular startup in incubators. Most of devs dont care about the price. ICOs are not a viable option anymore so most projects run on seed money. Development in 2018 has been more rapid than 2017 or 2016.
Development cycles take time and i believe that in the next two years we will see many blockchain projects with real life uses. In my opinion ETH has the biggest development community behind it. In addition when ETH moves to POS the volatility will be lower because many will have the incentive to hold and stake and get passive investment.
I see a future for ETH. The tech is there the developers are there. But what i know is ETH will survive this. A lot of shitcoins will not. This will give the space more legitimacy next time there is a bull run. This is time to weed out the weak, the greedy, and the speculative crowd.
Now the price may bottom at $100, $50 or $20 ….who knows. But i think the bear market is a time to accumulate and build. If you believe in the tech and have the money you are not afraid to use, buy and hold. Get engaged in the community. Treat this as a long-ish term of investment.
In 2013 i saw my dream crashing after bitcoin crashed, and thought its all dead. I got interested in crypto in 2016 when this subb and community were tinny. No one imagined that ETH would reach $100. There was more talk about DAo projects, new governance, and many great ideas about new type of financial system and wealth distribution. I believe that theses ideas will come to fruition with all the developers joining in. The insanity of the bull run made stray away from the original vision but now that greed is gone….LETS BUILD