Topic: [2016-02-11]Ethereum Price Rise being led by Bitcoin Flight (Read 2527 times)

Come on man!
This is pure FUD!
Stop hanging around at r/btc, get out and breath some fresh air to get a clear mind!
Blockstream and core is not the same. And as far as I know Blockstream only hired 5 or 6 core developers.
Now do yourself some research and check how many devs core has contributing to it.

So after LN / SegWit and that is fully implemented, most of that money will be flowing back into Bitcoin, when these fools realize they were feeding a pump n dump scheme. Some people just read the

headlines and then they run like sheep. The "Bitcoin Flight" is a shill attempt from many ETH pumpers to fool people into buying more ETH, only to sell when they made enough profits and to leave the

fools as bag holders. Do not fall for this rubbish.. you are going to make other people rich and you going to be left out of pocket. 

I also thought that would happen but given the fact that blockstream might suceed in destroying bitcoin I don't think that's going to happen and eth will most likely pass blockstreamcoin's market cap before 2017.

My biggest fear to all the small investors is the rollover. Momentum WILL change and the market is so thin. Run for shelter!

... But just those big gonna fork and copy it...

Does not matter, trend is friend.

Thanks. Perhaps. I love the DApps which I just googled here http://dapps.ethercasts.com/, I have to admit I have had my head in the sand on this one, despite bookmarking the Ethereum topic some 2 years ago when EMunie was around. I seem to remember the owner of EMunie was very protective, very isolationist in his approach that he shut out all other developers. I thought that was the wrong way to go because it does not harness the labour and ideas of others. Allowing people to find all kinds of uses for contracts and create services and tools using their own imagination is potentially a game-changer. It looks pretty easy for them to implement it too. We'll see.

I don't know about the price, honestly, it could go anywhere. But I will probably wait for a pullback, and in the meantime have a think about how this can be used.

The hopium surrounding Ethereum is palpable.

New apps you say? The one example they have is, ironically, how to make a pyramid scheme work. If they have others that mean anything, that would be of minor interest, but there isn't anything out there right now that is making waves.

ETH is still a platform looking for a solution, instead of something that fits an actual existing need. There are plentiful computing platforms, you don't have to use ETH to spin up some instances somewhere and get back-end code running. There isn't a worldwide cabal restricting computing usage either. Its just a quaint curiosity that has all of its focus on price, not utility.

I still maintain that it solves nothing, and even is doomed to fail given the decreasing cost in computing power per cycle/flop/what-have-you.

You have not missed the boat. The Ethereum and its DApps are being develoved constantly. So the price will rise again.

There is something very nice about the new wallet and Ethereum in general. But I missed the boat on this occasion.

So what?
The scammy pump continues to move on as long as there are enough dumb people investing their money in it.
A crash will come.Question is only when, how hard and for how long.
I'm not saying that Ethereum is just a shitty alt, but this rise is definitely artificial and many people will get burned fi they don't get out in time.

Looks like my prediction just became reality. Ethereum reached $1 billion in market cap. I posted that on 12 February when the price was sitting at around 0.0155BTC. It doubled since then.

Actually I think it's holding very nicely at 0.0125, I'm not sure what you guys want, to be $10 or $20 in a week? This is very healthy in the long term. If it can hold 0.01 for the next weeks it means that you won't get it cheaper than that anytime soon. In Poloniex alone it has more than 6k BTC of support, that's no P&D in my opinion, there's plenty of interest in Ethereum. Do your research and you will understand that if Ethereum as a platform gets adopted by some big companies 72 m of ETH is nothing, that's why the value spiked, it's because of its potential of going big.

We all know the rest (even Bitcoin which would never be adopted by a respected company or institution) don't stand a single chance to make it big, there are many nice projects made by nerds but that's it. Ethereum proposes ideas and technologies that remind people of the first Bitcoin years. Of course there's a big chance that Ethereum just fails and that's it but it's in its first stages. There's room for a competitor too if it starts getting massively adopted.

I have not thought it was a pump either through any of it.  There is a lot of attention to ETH and seeing that the "dump" is down to $4 something it seems to have found a price for now, which is way up from what it was just a few weeks ago.

We are already below $5.To be accurate it is $4,84.
As I said it could be just a "small" correction or the beginning of a bigger sell-off.

If the price stays over $5 for a few months, I would call it a extraordinary pump or the value finding of Ethereum.

People are actually building stuff with the Ethereum ecosystem.

Bitcoin up to almost $390 and Ethereum down ~12%.
Could just be a small correction for Ethereum and a normal gain for Bitcoin without any relation to each other.
On the other hand...
Let's see how this will develop the next days.

Why would it be true for Ethereum, which has everything to be the number 2 crypto-currency ? Ethereum is unique, and can't be compared to the other ones.

Bitcoin up  Eth down today, perhaps they don't have to come back but sure does look like they did

It's up 100% and the number 2 coin now. This was no ordinary pump and dump.

The real winners of this Ethereum pump are the guys behind the coin and Poloniex and a Kraken. Especially Poloniex, they probably made around 1000BTC from the fees during the entire pump.

Classic Pump and Dump. Pump it up, wait for just the right amount of inexperienced crypto users to buy-in hoping for fame and fortune while artificially raising the value, then dump the shit out of it and cash out, leaving the duped holding the bag (and all the losses).

It's happened to every alternate crypto-currency ever created. Seen it over and  over and over and over again since 2012 when I got interested in Bitcoin.

They can sell their Ethers for fiats. They don't have to come back.

Whatever the reasons for the Eth pump, be it Chinese miners using it for some profits atm or flight of Bitcoin holders

they will all be back to cash out their profits into Bitcoin eventually

Listen you chucklebums, someone needs to get their stories straight.

For one, Ethereum - whoever it was - spammed the living shit out of Reddit for several weeks straight, denouncing Bitcoin and parroting a lot of the bullshit I'm reading here about how "people are fleeing Bitcoin". I say, show me the proof in the form of Bitcoin Days Destroyed spiking (which it fucking hasn't), declines in mining participation (nope, still on an uptrend) and transactions per block (hey there, still an uptrend).

I don't care if Ethereum rises in price, its a separate system, and may have some features that people like -- great.

What I don't appreciate is some fucker conducting a "catfishing" expedition, painting the whole issue as if its some massive flight from Bitcoin into ETH -- because that is NOT fucking happening by any metric I can see. Take a look yourself over at https://kaiko.com/statistics if you'd like.

I'd caution those trying to profit off of a temporary price spike in ETH, as it seems this is primarily driven by a concerted campaign to instill FEAR in people - which is what I'm calling bullshit on. If your system is so great, you don't need to resort to these kinds of tactics, whoever you are.

Its enough to piss off an oldbie like me, then you know they've crossed the line of ethical behavior.

I tell you guys what will happen.
Ethereum will see a dump, no doubt about that.What we don't know is how much it will get dumped.
And what will happen after that is that one part will cash out and another other part will move into Bitcoin.
The dumb will get left behind if they should miss to get out in time.

Yes this doesn't sound wise, Bitcoin like I said may be in a lot of trouble but it has proven itself through the years. However we already saw its peak, I doubt it will ever "take off" but it's a great way to store value just like gold or similar assets. Ethereum is not a "coin" per se so it doesn't make sense to go all in. I can do that myself if I want to because the amount I hold is very low so I'm not worried if I lose a % of it, the potential for a great profit is too great to pass.

exactly this. i hear some people saying that they are considering moving all their btc to eth because of the bitcoin price that isn't moving and that there still isn't an agreement made to solve the block size issue. those who do go all in eth will find out how much of their coins are left after the dump start to pick up.

I also feel that Ethereum is not only a new refuge from Bitcoin incoming stagnation (or current if you want). But for me there's a lot of actual interest from, institutions, companies and banks that always shunned and laughed about Bitcoin but praised the blockchain. This is a dream come true if that's the case, Ethereum if becoming adopted as an standard for many business to conduct their business and build their platforms would be bigger than anything seen before.

Bitcoin could never achieve what was intended to do, well I don't know if that was its intention, but user adoption has been terrible and that won't ever get better, no common person will touch. Plus its image has been too spoiled and tarnished, mention Bitcoin to real businessmen and they will laugh, they know the money is in the blockchain technology, Bitcoin is just for loonies. Now I don't agree 100% with that, I still think Bitcoin has plenty of value as it is, a refuge from fiat, sort of virtual gold and a gateway to trading all these new projects.

Speaking for myself... Moving to ETH because of concerns about bitcoin is a good way to get poor in a hurry. But to each his own.

Bitcoin and its users need to get their house in order.

That is true. The 24 hour volume in Polonex is 52,000 bitcoin. If you include the volume from other exchanges, it will be even higher.

Well, it's actually not that surprising. Especially when you consider that nearly 50-75% of the total coins are in the hands of just a few people. They can basically do anything to the price that they want. I thought it would stop once they reached 0.01BTC but I have the feeling that they will continue with pumping untill they reach a market cap of $1 billion.

Don't most folk frequent a different type of pump and dump party?

I've always liked the project. I hope it wasn't just one of those pump and dumps you hear about at parties.

Ethereum's rapid rise is indeed surprising.
We should be careful about price manipulation.

All evidence seems to suggest this is Bitcoins flowing into Ethereum, not fiat. Time will tell.

http://www.afr.com/technology/bitcoin-rival-ethereums-price-skyrockets-20160211-gmrltn

It's a fact.

Probably.

Block size debate and all the petty squabbling is causeing capital flight out of Bitcoin.

That's interesting how Ethereum just rose. However, I don't think that it is blocksize debate that is the main cause. This is just some big companies realising that Ethereum could be an interesting tool for them.

Nuts.

Ethereum has been the “wonder” of the crypto currency world for a second week in a row. As the Bitcoin blocksize debate has caused disunity and discord amongst the bitcoin community, a fair amount of BTC money is flooding across into ETH.

That said the market cap of Ethereum has breached the $350 million dollar market cap putting it second in CryptoCompare’s market capitalisation rankings overtaking Ripple and Litecoin.

http://www.newsbtc.com/2016/02/11/ethereum-price-rises-on-strong-volume/