Topic: ETH price soaring. Are you going to move some BTC into ETH? - page 23. (Read 198829 times)

Since bitcoin seems to still be the coin to hold, then there is not much of a reason to move bitcoin to any other crypto, bitcoin is the only one of all the cryptos to offer some kind of store of value, while some  altcoins could offer new and more advanced characteristics the right choice is to store bitcoin long term.

Well I think we agree more than I thought, however I don't know what a cryptocurrency is anymore. To me a currency needs to be stable first, and that's why Bitcoin has failed to reach the mainstream, that's the bottomline. No average Joe wants to see his stack or salary cut in half because there was a hack or an ETF got denied. He needs to know how much Netflix costs by the end of the month or groceries next week. I won't even get to the "small" issue of using decimals, my mother could make a simple mistake and confuse 0.001 with 0.0001

Now, Ethereum with all its problems is actually a platform that you can use to develop dapps and even stable tokens if you want, for example the Goldman Sachs Dollar, as weird as that sounds.

I don't have anything against banks, they never robbed me a penny, to me they are necessary evil like governments. Yes I would like to live in a world where governments don't force me to pay taxes and enslave me for life but that's not gonna happen in my lifetime at least. Bitcoin was created in a time of crisis and low faith in institutions. I agree a trustless public blockchain can solve many problems. To me the DAO hack was a debacle and very irresponsible from the devs behind the project. However I think the foundation did the best they could for such a shitty situation and it was very mature in my opinion. Not letting someone steal millions of dollars because of a bug is always the right answer. Letting him walk is being stubborn and rigid, that's not how the world works, difficult decisions must be made and it's not all black and white. And remember the problem was not in the Ethereum blockchain itself, it was in a smart contract holding millions in a beta project. It was too much too soon, but don't condemn them all, there are a lot smart people working and trying new things.

So I invest where I see the opportunity for growth, smart people and innovation. Bitcoin promised that years ago, but what about now? Tell me why should I invest in it?

Not so funny now...the future is grim for Bitcoin if you ask me and they only have themselves to blame, nothing but petty disputes, greediness and denial about the deep problems it has. What is Bitcoin anyway right now? I mean honestly, what does it do? It's certainly not a day to day currency that once proposed. A store of value? a decentralized database? Ok I can give you that, but there's zero incentive to buy it other than hodling and speculate with it, this trick won't last forever.

Now I'm not calling the death of Bitcoin or anything, I'm sure it will be around for many years, but something's gotta give, plenty of business had moved away from it due to the toxic environment and altcoins started to take on Bitcoin marketcap little by little, just look at the graph of altcoin market compared to Bitcoin, it's bullish as hell.

And like it or not, Ethereum is the second one behind it, with a lot of projects actually using its blockchain (not different blockchains altogether).

Only in being effectively controlled by Goldman Sachs

The huge short squeeze to 485 (lending rates went over 2% during the rally) and subsequent drop to 300 was toppish for me. I don't see how it can go higher, especially when, as you say, there's nothing particularly unique about it. I guess its appeal is that its unit of account is the second most expensive now, so noob investors can feel "rich".

Dash might rise. But it has similar features as the ZEC and XMR. Ethereum is unique.

where bitcoin exchanger or ethereum exchanger with pair USD can leverage 1:100
in bitfinex only 1:3 and in poloniex only 1:2.5

Yefi what do you think about this Dash rally? It definitely came out of nowhere for me and some are saying it will go to $100 and above which to me is completely ridiculous. I don't really understand what's the appeal for Dash but I'm kicking myself for not seeing the signs and potential for the hype. I kind of get the masternodes lock a lot of Dash and all but I don't see what's so special I'm terms of tech that either Ethereum or even Litecoin or Doge can't do in terms of speed. Even Bitcoin if they manage to take these things seriously.

Anyway, do you think the pump is over or this is a good entry point? At least before the ETF decision unleash chaos hehe.

Well done on holding your position. I took my profits a while ago and got into the PASC and NEX pumps.

There are whispers that the SEC will approve, but we'll see. If the ETF does get approved, Ethereum will probably dump, but BTC's rise should also push it over its USD ATH, which may spark buying, as a high-beta play on Bitcoin. If 0.015 can be taken out, then major resistance is going to be in the 0.02 - 0.024 range around last Devcon.

If the ETF gets rejected, I see a correction in BTC, but not the end of the rally. Longer term, the scalibility is going to be an issue if it's not resolved, but I don't believe it will prevent higher highs in the immediate future.

 

I'm still long from sub 0.01 and $7...as usual I wish I've bought more but we all know how it goes. I'm not selling anytime soon especially with the ETF decision looming. I think ETH is the place to be right now as I don't feel the ETF will go through. Either way, ETH will benefit. Yes the price will suffer in BTC terms if it's approved but in terms of fiat, all major altcoins will ultimately benefit.

If the ETF doesn't go through, the fiat pair will definitely suffer short term (when BTC dumps, altcoins don't react that quickly to keep their fiat value) but it will definitely be used as a hedge along with fiat and other major altcoins. And I may get a lot of hate, but if the ETF doesn't go through we could enter a very long downtrend for BTC, and the concept of "The Flippening" could become a reality as in my opinion Bitcoin doesn't have a lot in the horizon for the next months (inner fights, blocks full, China regulation).

You may not believe in ETH but there is a lot of stuff coming in the short term, especially Metropolis and POS hype, we all know what something similar did to Dash...I won't even mention the Ethereum Enterprise Alliance which to me is the greatest nod from fintech to cryptocurrency ever.

price of ethereum is always going to rise until it is not. for now it has some pump left in it so there is still room to grow but in time when whales got tired of pumping it and the devs pulled all the magic tricks they can out of their pocket we start seeing the real dump start.
that is the story of all the altcoins that get big fast.

I think the price will rise again after some consolidation.

Encountering resistance around this area as expected. Probably due for a buyable dip, then we'll see where she's heading.

It seems people are converting their bitcoin into Ethereum now.

I was not aware you were referring to 1/100th of a cent as your post implies 1/100th of a dollar. In any case, Coinflation.com gives a value of $0.0003686 for the copper, so 3.7% of a penny.

This is only true for older American cents that were made entirely of copper. Newer cents are a copper alloy, and their melt value is less than their face value.

That happened in 2013 and 2014.

Not really. Once BTC reaches a high, people look to book profits.
They may convert their bitcoins to fiat or other alts as well. This could benefit the altcoin market as a whole.

If more money is flowing into digital currency, it will also benefit altcoins.

Bitcoin is in a good shape now which is not good news to any alt because much of the money that could be use to create pumps on the altcoins market now it is tied to bitcoin.