ETH price soaring. Are you going to move some BTC into ETH? - page 110.

thms

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Quote from: Hyena on February 10, 2016, 03:49:49 PM

Quote from: ?? on ??

Do you have any other forum threads, info, sources on this, or is this just pure speculation / paranoia from yourself? I read about the last hack, but they were very transparent and updated their security measures.

If you never trust an exchange that's been previously hacked, I wonder what airlines you fly? Do you drive? All of those have proven faults in the past. I would actually trust an exchange based on their customer support, willingness to be transparent, and speed of responses. Whether or not they have had issues is not relevant. For example, I despise Coinbase... worst customer support ever, and even though I haven't had major issues, I'm glad I got out of there.

Yes this is my personal paranoia and I don't care if others don't follow it. And no, I don't fly nor drive a car. I prefer walking and a bus. And no I don't trust any other centralized exchanges either. I withdraw the coins as quickly as possible or when I sense that things might get ugly.

edit:
for the record, I just received my 1.2 BTC from poloniex so now I have zero coins on that exchange, let's wait and see now how the ETH bubble bursts Cheesy

I think it's already happening.

The only thing that happened is that you lost money. Now = 0.0113 Grin

Hyena

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Quote from: ?? on ??

Do you have any other forum threads, info, sources on this, or is this just pure speculation / paranoia from yourself? I read about the last hack, but they were very transparent and updated their security measures.

If you never trust an exchange that's been previously hacked, I wonder what airlines you fly? Do you drive? All of those have proven faults in the past. I would actually trust an exchange based on their customer support, willingness to be transparent, and speed of responses. Whether or not they have had issues is not relevant. For example, I despise Coinbase... worst customer support ever, and even though I haven't had major issues, I'm glad I got out of there.

Yes this is my personal paranoia and I don't care if others don't follow it. And no, I don't fly nor drive a car. I prefer walking and a bus. And no I don't trust any other centralized exchanges either. I withdraw the coins as quickly as possible or when I sense that things might get ugly.

edit:
for the record, I just received my 1.2 BTC from poloniex so now I have zero coins on that exchange, let's wait and see now how the ETH bubble bursts Cheesy

I think it's already happening.

yefi

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Quote from: Hyena on February 10, 2016, 03:21:20 PM

when I tried to withdraw ~5 bitcoins the TX showed up as FAIL and I only got the coins several hours later after submitting a support request ticket. While this in itself is not a grave error it indicates poor business practices and shows lack of professionalism. Combine the latter with the fact that the exchange has a lot of attention due to the ETH bubble and has 5000 BTC in buy orders visible to everyone, it has suddenly become an exchange of the highest hack risk.

Duly noted. Never happy to hear of transactions failing. One thing I noticed also with the BTC deposits is that you can't generate a new address, which is a pretty bad security practice.

Hyena

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Quote from: houseo on February 10, 2016, 02:41:24 PM

Quote from: Hyena on February 10, 2016, 02:16:24 PM

Nubits has been pegged to 1$ per 1 NBT for nearly 1.5 years now, and they never lost the peg. I'm more bullish on nubits/nushares than on ETH.

How can you be bullish on nubits? If it works as planned you buy it for $1 and it is worth $1. Where is the potential gain?

I didn't say I'm bullish only on nubits, I said I was bullish on nubits/nushares. The profit that nubits network makes is shared between the nushareholders.

Quote from: yefi on February 10, 2016, 03:00:55 PM

Quote from: Hyena on February 10, 2016, 02:16:24 PM

As for the ETH bubble, it seems to be popping now. Damn that poloniex did get a lot of profit from the volume. There are too many coins in that faulty exchange right now, it gets too much attention due to the ether bubble. I have some coins in poloniex and I am selling them all right now for BTC and withdrawing everything from polo because poloniex may get hacked soon. It has been hacked before and history tells us that hacks have a larger potential to happen when some of the coins on the exchange is skyrocketing. The impending hack itself may cause the eth bubble to burst.

What causes you to say Polly is faulty? I've noticed problems with the orderbook refreshing with this large volume and have had the occasional transaction failed message when placing an order, but not much else.

I never trust an exchange that has a record of being hacked in the past and lately when I tried to withdraw ~5 bitcoins the TX showed up as FAIL and I only got the coins several hours later after submitting a support request ticket. While this in itself is not a grave error it indicates poor business practices and shows lack of professionalism. Combine the latter with the fact that the exchange has a lot of attention due to the ETH bubble and has 5000 BTC in buy orders visible to everyone, it has suddenly become an exchange of the highest hack risk. What is worse, the excchange could already be hacked or is insolvent but since everyone keeps sending BTC to them to buy ETH they can keep the scam going. I'd suggest everyone to withdraw ASAP because you only own the coins that are in your wallet. Another red flag is the fact that ETH even doesn't have a proper wallet, which means that a lot of people are holding all their coins on the exchange and not in their wallets.

yefi

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Quote from: Hyena on February 10, 2016, 02:16:24 PM

As for the ETH bubble, it seems to be popping now. Damn that poloniex did get a lot of profit from the volume. There are too many coins in that faulty exchange right now, it gets too much attention due to the ether bubble. I have some coins in poloniex and I am selling them all right now for BTC and withdrawing everything from polo because poloniex may get hacked soon. It has been hacked before and history tells us that hacks have a larger potential to happen when some of the coins on the exchange is skyrocketing. The impending hack itself may cause the eth bubble to burst.

What causes you to say Polly is faulty? I've noticed problems with the orderbook refreshing with this large volume and have had the occasional transaction failed message when placing an order, but not much else.

houseo

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Quote from: Hyena on February 10, 2016, 02:16:24 PM

Nubits has been pegged to 1$ per 1 NBT for nearly 1.5 years now, and they never lost the peg. I'm more bullish on nubits/nushares than on ETH.

How can you be bullish on nubits? If it works as planned you buy it for $1 and it is worth $1. Where is the potential gain?

Hyena

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Quote from: roparker2014 on February 10, 2016, 07:43:21 AM

Has anyone, anywhere ever been able to correctly peg the price of an altcoin using the sort of logic in the post above mine?
I've seen lots and lots of "coin x should be worth y because..." - is there any evidence that anyone has actually made a correct prediction in this manner, in all the years of btc/crypto?

Nubits has been pegged to 1$ per 1 NBT for nearly 1.5 years now, and they never lost the peg. I'm more bullish on nubits/nushares than on ETH.

As for the ETH bubble, it seems to be popping now. Damn that poloniex did get a lot of profit from the volume. There are too many coins in that faulty exchange right now, it gets too much attention due to the ether bubble. I have some coins in poloniex and I am selling them all right now for BTC and withdrawing everything from polo because poloniex may get hacked soon. It has been hacked before and history tells us that hacks have a larger potential to happen when some of the coins on the exchange is skyrocketing. The impending hack itself may cause the eth bubble to burst.

Denker

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Quote from: shanem on February 10, 2016, 09:09:50 AM

I can't believe that ETH keeps rising and rising. It is already above 0.01 BTC and could go up to 0.02 BTC in a few days. Everyone needs to be careful on ETH now, it could pop and go back to 0.006 again.

I completely ignore that pump.
This is just crazy and everyone knows it will be heavily dumped.
So this is a pretty hot piece of iron I wouldn't touch.

bitcoinboy12

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Quote from: shanem on February 10, 2016, 09:09:50 AM

I can't believe that ETH keeps rising and rising. It is already above 0.01 BTC and could go up to 0.02 BTC in a few days. Everyone needs to be careful on ETH now, it could pop and go back to 0.006 again.

Yes, despite ETH not being used in major ways the price increase is somewhat illogical. Some whales could be behind it waiting for the right price for them to sell their coins.

Benchman

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Small break and then 0.015+.

shanem

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I can't believe that ETH keeps rising and rising. It is already above 0.01 BTC and could go up to 0.02 BTC in a few days. Everyone needs to be careful on ETH now, it could pop and go back to 0.006 again.

Positid

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BULL RUN until 2030

Quote from: stoat on February 10, 2016, 08:13:52 AM

People that haven't invested in this coin just don't know anything about ethereum. The more people find out what it is the more likely they will buy it.

It's only a matter of time before bitcoin owners begin to take notice of ethereums capabilities.

You can make smart contract with Ethereum. So many business will use it if it becomes popular.

hector3115

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Quote from: roparker2014 on February 10, 2016, 07:43:21 AM

Has anyone, anywhere ever been able to correctly peg the price of an altcoin using the sort of logic in the post above mine?
I've seen lots and lots of "coin x should be worth y because..." - is there any evidence that anyone has actually made a correct prediction in this manner, in all the years of btc/crypto?

I know its a loose correlation but think about it. One of the main reasons that Bitcoin is the king and has the big market cap (relative to other cryptos) is the network effect of it's blockchain. The more nodes, the more secure. Now Ethereum is a quarter of its size already and growing fast.

If network effect is in fact, the main driver of a coins value, then technically Ethereum should have a market cap 1/4 of Bitcoin.

It will be very interesting if it keeps growing at this pace...

stoat

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FREEDOM RESERVE

People that haven't invested in this coin just don't know anything about ethereum. The more people find out what it is the more likely they will buy it.

It's only a matter of time before bitcoin owners begin to take notice of ethereums capabilities.

yefi

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Quote from: ?? on ??

And I used to recall (joined Jan 2014...) doomsday comments when bitcoin was $3, and no one ever imagined it would shoot up to $1200+, let alone $40. I think I've been around cryptocurrency long enough to realize that nothing is impossible, and anything can happen. That said, no one should put in what they can't afford to lose - that's common sense.

First and foremost, ETH is not a currency/coin, it's technologically different and fixes many of the issues bitcoin has. It's not trying to be another bitcoin or a better bitcoin, it's an apples to oranges comparison. Also, the value of Bitcoin is not dictated by supply. If that were the case, bitcoin should not have stopped at $1200. If the claims about supply dictating price are valid, then why has the halving had literally no effect on the current price of BTC? Even if it is 'baked into' the current value, it's only decreased. There are far too many ways I could explain how bitcoin quantity has absolutely no bearing on the price.

The point is, to say that ETH should not be so highly valued due to its supply is baseless. Let's examine another asset, gold. The world has not yet mined all the natural resource supply of gold and other precious metals, yet their values rise and fall in relation to the relative rise and fall of markets and other currencies, not due to supply. Have you ever heard the news report that the value of gold increased because scientists have predicted the supply is running out? Or that some big whale just flooded the market with gold so the increased supply made the price go down? LOL.

Gold is valuable because of its use in electronics and metal properties, and therefore, I see ETH similarly valuable because it can become the foundation for decentralized applications of the future. Essentially ethereum is the gold of the future Internet.

One caveat to ethereum's rise is that it can be copied, and one other potential copy on the horizon is called rootstock, which will have a crowd sale in the next few months, though ETH has a headstart much like BTC has a headstart on the other 1.0 chains and currencies.

I should note that I'm really saddened to see so many people criticize ethereum without understanding what it even is. So many people saying it's a "blah blah coin" are making themselves look like idiots because it's not even a coin at all. It's like comparing a car with an electric motor, bitcoin being the car and ethereum being the electric motor.

This is just the beginning. And those who support ethereum now will be the new elite. Good luck with your close-minded naysaying, it sounds all too familiar.

Most of this is a strawman argument, as I haven't mentioned anything here about supply or that Ethereum doesn't have potential, or that it won't go higher in time. But why don't you write me another wall of text expounding on my "close-minded naysaying" Tongue

CoinRocka

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roparker2014

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Has anyone, anywhere ever been able to correctly peg the price of an altcoin using the sort of logic in the post above mine?
I've seen lots and lots of "coin x should be worth y because..." - is there any evidence that anyone has actually made a correct prediction in this manner, in all the years of btc/crypto?

hector3115

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Quote from: owm123 on February 10, 2016, 06:18:11 AM

Quote from: hector3115 on February 10, 2016, 06:13:49 AM

Ethereum now has over a quarter of the nodes that bitcoin has. Does the price now head towards 1/4 of bitcoin market cap?

That would be around $19 / ETH?

I doubt it will reach that. I dont see how number of nods would relate to its price.

A quarter of the nodes means that it has 1/4 of the security of the bitcoin Blockchain and growing fast. So if the ethereum chain is 25% as robust as bitcoins, that may mean it is worth 25% as much

talkbitcoin

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All I know is that I know nothing.

ETH is such a wild market right now, no matter what the coin has to offer there is a good opportunity to profit from the pump

BldSwtTrs

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Quote from: owm123 on February 10, 2016, 06:30:54 AM

Quote from: BldSwtTrs on February 10, 2016, 06:23:46 AM

Quote from: owm123 on February 10, 2016, 06:16:50 AM

Quote from: BldSwtTrs on February 10, 2016, 06:11:38 AM

Where can I find information about the emission curve and total supply of ETH?

There is no max count of eth. Its not a currecy, in a bitcoin sense:

https://bitcointalk.org/index.php?topic=737234.20

Thanks for the link.

It's not because there is no max that it's not a currency.

But after reading this thread it's still unclear for me. Let's say we are in 2050, how many ETH will there be?

From here:
https://forum.ethereum.org/discussion/comment/6227/#Comment_6227

There is no maximum. 60,102,216 ethers were created during the sale, plus 2x pools of 9.9% each. 26% of 60,102,216 will be created through mining every year. This means that 15,626,576 will be created every year on top of the 60m and the two pools.

After a while, 15,626,576 ether won't represent much of the total ether available, making the system dis-inflationary (i.e., inflation perpetually trending towards 0 but never reaching it).

I thought mining would stop at some point. After the transition POW>POS will occur, will there still be coins creation?

Topic: ETH price soaring. Are you going to move some BTC into ETH? - page 110. (Read 198829 times)