Here I should say thanks to Edu Saez, who persisted with his tweets on how Ethereum (ETH) works and why it is more interesting than Bitcoin. Through his tweets, I decided to invest in ETH. For sure, with a poor allocation. Cryptos are not the main point of my portfolio. I own ETH (and BTCs) just to not miss the party.
What I thought about Ethereum, as a sceptical crypto guy.
- ETH is known as the programmable blockchain. Huge difference with BTC. Meanwhile, BTC is recognized as a store of value, ETH is by it's friendly-structure to set up apps.
- Could be interesting because it doesn't have as hype as Bitcoin or another crypto has (like Doge, with a recent influence by Elon Musk). ETH shows a lower volume. Around 8% less than BTC at the moment when I'm writing this.
- The real disruption in tech is led by new apps and tech services. Here is where ETH is an important player.
- You needn't figure out if the crypto will be the replacement of fiat currencies. Just trust in innovative founders and businesses which will be run through a programmable digital coin.
- Currently, the NFTs appeared (Non-Fungible Tokens). The specific case that I know is NBA Top Shot. It's an app where you can buy your favourite shot of an NBA player. People are paying thousands of dollars for this kind of digital card.
- Recently, NFTs are growing fast, and we will see many new tokens, as a collectable item. Ethereum is in the shadow of the NFTs bubble. Every single NFT works by Ethereum.
- So, if you believe in new disruptive digital businesses, you must know that indirectly, that has an influence on Ethereum. Programmable projects and Ethereum run hand-to-hand.
If you're interested in digging deeper, I recommend you to read this paper.