What a night. After the great bull-bear battle for $300, won by bull whales, ethereum moved full speed ahead, knocking down $320, $340, rising to a high of $358 before the bears finally made their presence.
This space has never seen anything like it. Bitcoin’s bull runs usually last just days. Ethereum has sustained it for months, rising from around $10 at the beginning of the year to now $350.
It’s a different level, many think, with eth’s trading volumes now nearly as much as bitcoin’s, while its transaction levels are not far off, despite the currency really taking off only this year.
A currency which has grabbed the world’s imagination like bitcoin never did. Because ethereum has real, underlying utility. Its smart contracts are useful for intelligent machines, to automate organizations, to turn fiat money from static into dynamic code, to bring about the internet of things, and the list goes on.
While bitcoin’s focus was and remains just money, ethereum’s focus is sort of every single industry, from music, to energy, to finance. As such, its breadth of applications is much wider, while performing the money function far better than bitcoin.
But what really won the hearts of many supporters in this space is the Ethereum developers. Vitalik Buterin is simply next level. Gavin Andresen and Gregory Maxwell are smart, but the kind of smart everyone can be if they dedicate themselves to study.
Vitalik Buterin is biologically smart. He went to a school for the gifted, because he is gifted. He learned Chinese in months, and led the monumental development of this project, from conception to now $30 billion.
He successfully steered ethereum through its greatest test so far during the DAO fork, a test which we think it passed with flying colours for it showed that the prevailing attitude is technology must serve us, not crucify us in the name of ideology.
While we tread these waters we must always remember the human, the greatest species to have ever lived, and we must think of how we can lift them higher by extending intellect itself through code.
There is no other space currently, nor project, that holds more promise towards such endeavour. Therefore, Ethereum roars.