Ether breaks R50 000, creating a ‘once in a lifetime opportunity to build generational wealth’

Richard de Sousa, CEO of AltcoinTrader, explains what’s driving the surge in ether, the native currency of the Ethereum blockchain, and why this is history in the making for those seeking to build long-term wealth.

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BTC as gold is a tenuous position; DeFI and ETH is compelling. Determining a true value is difficult though – expecting to see a surge and then a big correction sometime later this year.

Oh, and the opportunity to build generational wealth was when ETH was trading at <$500 a few months ago; for now you can hope to perhaps double your investment (at significant risk)

In my humble opinion you do not gamble your wealth on a volatile niche asset. This is how fortunes are lost. Especially when what you buy today has almost zero utility and relies on the greater fool for its entire valuation. Think about it. Why would governments not launch their own digital currencies which are regulated and work on the same technology. They are not going to allow disruption of their monopolies on currency, nor should they.

with all due respect, you completely miss the point of crypto. Crypto exists because govts control fiat (and your taxes, your property etc.)- fundamental to the philosophy of Crypto / blockchain is that value exists via immutable contract; NOT govt decree. The nation state and their govts are a mess and in SA we know the criminality of a system where citizens are taxed on pain of jail to fund a criminal enterprising posing as a govt. people are opting out.
There’s a lot of functionality in the DeFI space, with more to come. You are taking a forward looking bet, much like Amazon trading at a P/E of 300+ not too long ago. So sure, lots of risk; lots of potential reward.

Delusional nonsense. Modern day Tulips – make sure you get out in time. Those already invested will continue hyping it to drive the price up. Who do you think’s selling what you’re buying today?

This is the modern equivalent of tulip mania. People are paying a fortune for something that has absolutely zero intrinsic value. It’s madness and one step beyond. The greater fool will buy your crypto tomorrow, or maybe not. When this bubble pops there will be much wailing and gnashing of teeth as paper fortunes evaporate. You have been warned. In the dot com mania people totally lost cognisance of value and bid up stocks into the stratosphere. Just how can you put any value on something with zero value? That is cloud cuckoo land at a whole new level.

wow! with that logic we’d have to value the world’s banking system as zero. because that is what DeFi is busy replacing. you need to do some serious reading up.

Totally agree with you. However I must add when the pie hits the fan you wont hear the wailing, the same guys that are bragging will say ZERO when they lose.

Some of the previous bloggers make comparisons to companies with ASSETS and REVENUE, this is definitely not the same thing and the whole thing is working on the assumption that government’s will accept and continue to tolerate this form of currency. Tomorrow they could legislate (either fully or partially) and POOF there it goes.

valid points; i suspect however legislation against crypto will not stop the bus – just move the stations to countries that are friendly.
very few people have a clue how to value it and a case can be made for it to be wildly overvalued; very much being a speculative asset for the time being, prone to booms and busts. It is not tulips however; there’s some very real functionality and value being built.

@mrjones who said “Totally agree with you. However I must add when the pie hits the fan you wont hear the wailing, the same guys that are bragging will say ZERO when they lose.”

I presume you talking here about the inevitable collapse of that toilet paper they hyper printing called fiat ?

“the whole thing is working on the assumption that government’s will accept and continue to tolerate this form of currency. Tomorrow they could legislate (either fully or partially) and POOF there it goes.”

Legislate crypto ?…….well, hit me with a wet kipper – doesn’t that just make these kind of blue chips like Bitcoin/Ether etc mass adoptable then by those that were possibly too scared to venture before ?

Imagine when the rest of the financial institutions start climbing in …….what will be the value of these entities like BTC/Ether then ?

Ok, so now you have a digital service that is both anti inflationary and a store of value by default, has the ability to be deployed at a moments notice to anyone and anywhere in the world, all with complete sovereign control by the holder of this asset…..

Red pill moment for you ???

Wow Richard, your ignorance is really showing here.

Ok, so tell us all, what ‘intrinsic value’ does Google have ??

It’s not backed by anything physical either !

Except a SERVICE.

That’s right.

And that’s exactly what Bitcoin and Ether offer.

A SERVICE !!

Got it now ?

Don’t be ridiculous. Google’s 2020 revenue US$181.59 billion with an EBIT north of US$48 billion. The intrinsic value of Google can be estimated by the sum of the estimated discounted cash flow for the next (say) 20 years. Something does not have to be backed by anything physical to have value. In the case of Google it is a cash cow. A $1000000 T bill is not backed by anything physical, yet it has value simply because it represents a future cash flow of US dollars. Coca Cola has very few fixed assets. Why does the US$ have value? It has value because every dollar is owed by someone or some entity and they will lose their assets if they do not service their debts. Every dollar is borrowed into existence. In the case of crypto, it is nobody’s debt, there is no underlying asset and it has no cash flow. It is a chit on a blockchain without any intrinsic value. Blockchain is not proprietary and any man and his dog can invent a cryptocurrency (Doguecoin?). You are obviously eyeball deep in crypto and feel the need to dish out insults when your beliefs are challenged. When the next financial crisis happens – let’s call it a deflationary debt implosion, there will be a mad scramble for currency to service debts and flight from crypto. Good luck with your “investment”.

@RichardtheNotsoGreat’

“Something does not have to be backed by anything physical to have value.”

Boom.

That just took care of about 90% of all crypto naysayers who squeal ‘but it isn’t backed by anything’ !!

“Every dollar is borrowed into existence.”

Yup.

The biggest debt bubble in all of history.

About to implode.

They can’t even service the INTEREST on the USD debt, never mind the CAPITAL amount.

There’s even a doomsday $ clock counting down for you statist fanboys…..[ hint, look for usdebtclock on the internet ]

PS..ever heard of the Great Reset ?

They can’t reset something that’s new.

The only old thing is fiat.

Guess which one will get killed………

“there will be a mad scramble for currency to service debts and flight from crypto”

You don’t know your Arthur from your Martha.

The reality is it’s the other way round.

The Fed is currently in the biggest helicopter money printing orgy since Mugabe pushed the Zim$ into hyper inflation.

Biden and his unserviceable ‘stimulus cheques’ was the final nail in fiat’s coffin.

So, it’s not Bitcoin that’s in a bubble.

It’s fiat debt that is.

And those on top know it – hence the scramble to offload paper toilet money while they can, into assets like commodities/Bitcoin/precious metals etc.

And hence the boom in these assets !

Why do you think Bitcoin is surging so much – because of retail buyers like a few spotty teenagers who can only afford a fraction of a BTC ??

Never.

The massive price increase of BTC indicates mega financial institutional buying on a large scale to move the valuation needle so much !

If that isn’t the writing on the wall already, then best you stay in your fiat induced coma.

However, plenty who would rather go with one of the greatest technological achievements since the internet, blockchain, and that fantastic vehicle utilizing it’s highway called Bitcoin.

Much filibuster and liberal with the insults but you are still unable to tell us what gives Crypto its value. Calling me a ‘statist’ is assuming facts not in evidence, in fact as far from the truth as the east is from the west. You are correct in many things you say but you cannot explain why the rampant monetisation of debt in the USA has not led to inflation since the GFC and why it should be any different this time. The rampant increase in crypto value is due to the loose fiscal and monetary policies of most regimes. Loose money always finds a home. It may be crypto, gold, equities, bond, property. Where does the new money go? When the music stops, the deflationary collapse resumes. The debt still has to be serviced.

@Richard who wrote:

“Much filibuster and liberal with the insults but you are still unable to tell us what gives Crypto its value”

Not sure where the insults are but sometimes truth seem uncomfortable, yes.

I’ve been over the advantages of crypto, not going through it all again – maybe spend some time researching BTC and it’s many advantages over fiat.

“You are correct in many things you say but you cannot explain why the rampant monetisation of debt in the USA has not led to inflation since the GFC and why it should be any different this time. ”

Whoo…inflation !?….that’s arriving Richard, in a big big way.

Fasten your seat belts, it’s going to get very rough on a global scale.

Further, the USD has lost 99% of it’s value since the Fed’s money printing machine fired up in 1913.

Talk about veiled inflation hey !?

“Where does the new money go? ….The debt still has to be serviced.”

The answer you seeking is The Great Reset.

Coming soon to a theatre near you.

Good luck out there.

I can’t wait to come back to this in 5 years time.

My R200 000 investment is now worth several million and it will continue to grow and grow and grow

Interesting to see that even “experts” in South Africa refrain from mentioning XRP.

End of comments.

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