Ethereum Price Analysis On March 16, Spring 2018
Ethereum is the second blockchain ecosystem developed behind Bitcoin, and in so far as its predecessor aimed to revolutionize finance, Ethereum aims to revolutionize governments. Don’t be fooled by its tech heavy jargon, Ethereum aims to replace most of the actual processes that government officials engage in with smart contracts that automatically operate, and operate independently of politics. If this sounds weird, Good. Dive in and let’s take a look under the hood to see what makes Ethereum tick.
Ethereum ($ETH) Price Forecast for March, 2018
Trading sharply down this morning paired against BTC, Eth found resistance at the 597 level on Binance. The pairing has shed almost 17% in the last week, I would take it as a good opportunity if Eth can rally from its support. The 4 hour MACD signals an uptrend, and the RSI for the ETHBTC pair signals slightly oversold. ETH still follows Bitcoin down into the slumps, and I eagerly await the day that their prices diverge. Until that happens, however, I am cleaning out my couch cushions to buy more at its steeply discounted price.
Do your research, invest what you can afford to lose please!!!!!
One of the most blatantly obvious things that a society requires to function is trust. One could say that trust is the basis of currency, and currency is a place holder of the value one puts on labour. If that's a little philosophical, I understand, but it’s true nonetheless. We trust that the currency traded is a fair representation of value in return for whatever it is that your paying me for. If I didn't trust that the token, paper, or coin you give me in trade for my work is valuable, at least as valuable as my labour, why would I accept it?
As it stands today, the governments of the West issue a currency in Fiat, tax it away from you, and inflate the rest out of existence. To acquire a house in today's society means becoming a slave, not to corporations, but to governments who have a perfect system of wealth transfer from citizen to government through confiscatory tax policies (don’t even get me started on carbon tax) and central bank fiscal manipulations, that move value away from those who work and save, into the hands of those who use government policies to enrich themselves. Ethereum comes into this mix as a technology like nothing before it. The funders and founders have a vision similar to that of the renaissance, if I may be so bold.
If the future of mankind is electric, It is also decentralized.
Decentralization plays a key role in the importance and the value of a technology like Ethereum. The ability to have a contract automatically execute relieves the need for expensive lawyers and agents in a whole host of financial and government services. The fact that we can make these fundamental services radically more efficient means that we can also stop forking over massive amounts of taxes to central governments that are irrevocably corrupt and spendthrift.
Ethereum also provides for the creation of an implicit reputation system. Without going into too much detail, the future looks bright because transparency at a high level and privacy at the individual level translates into privacy and trust.
Three other key terms to remember when speaking about Ethereum technology are efficiency, reliability, and security. Every week there is another announcement as the team make rapid advances in these areas, these things come together on the platform to create an ecosystem dubbed web 3.0.