Will ETH go POS soon?
Relax, there is Fait currency run on Bitcoin, started by that MT.GOX person. The Bitcoin loyalists are selling off their holdings in other altcoins to buy up those Bitcoins.
Ethereum is the most valuable altcoin and it can be exchanged for Fait, which can then be used to buy up Bitcoins.
So, there will be some price lows, until the Bitcoin loyalists have little Ethereum coins left to sell.
Then, you see
steep rebounds in Ethereum prices.
But, this looks like the end "all boats" theory. A theory that needed to die anyway.
This is true, but the ETH selloff has been due to the SEC in the USA issuing strong words about ICO regulation. Since many ICOs are made possible by Ethereum, people are getting out. ETH is just an alt, like any alt it is measured against BTC. GENERALLY, When BTC goes down, alts dump... When BTC shoots up, alts dump (in BTC terms). ETH is no exception. So, couple the ICO regulation and BTC falling and it's a double-pronged attack against ETH.
Look at the long term ETH charts.... It's still kind of highly historically. $150 seems like a good spot to accumulate ETH again when it gets there. Will ETH be up to $2k one day? Maybe, but then BTC would likely be over $30k too.
That is incorrect!
The SEC ruling is good for Ethereum because the new ICOs have to sell a large amount of the Ethereum they raise to pay for the projects they promised their investors.
Less, ICOs on Ethereum Network means fewer outflows of Fait currency from the Ethereum Network as a whole.
Investors have been complaining about the amount of ICOs on Ethereum Network for nearly 2 years - you need to go back and read this ANN from 2016.
Finally, no miner is going to sell you an Ethereum coin $150. LOL
Good points. I am mining ETH myself so I hope you're right. I'm just pointing out the fact that .1BTC or even .07BTC is historically high for ETH. Be prepared for ETH to possibly revisit lows in the .025-.03BTC range until the market sorts itself out. If BTC revists support levels of $6,000 and ETH is at .025BTC, well then ETH = $150. I can't stay in business myself at that level, BUT it would be a huge buying opportunity.
Also, I mine ETH and sell it t current market value to pay my bills. The market value is NOT set by the miners, but rather by supply and demand. If miners/manufacturers in any market set the price, what would physical gold and silver actually be selling for today? How about oil?
Many people mine Ethereum to support the project and as a long-term investment.
When the price falls the business orientated miner ceases trading (this has happened to pools and actual mining businesses in the past), which allows POW coins to consolidated amongst supporters.
This acts as a break in price depreciation and consequently, the supply of POW Ethereum disappears from the exchanges.
Turning, to the macro-economics theory used for Fait Currencies, this contaminated by governmental lack of self-control and the desire of ruling elites to kick their own problems down the road or their disinterest in doing anything except what they want to do. Therefore, little in that sphere has any substance or weight in discussions about free markets. Because there is little freedom or liberty as far as nearly all governments and ruling elites are concerned.
