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Topic: ETH price soaring. Are you going to move some BTC into ETH? - page 73. (Read 198829 times)

legendary
Activity: 994
Merit: 1035
Vitalik did indicate he would dump 2 million for Fiat soon -

https://news.bitcoin.com/vitalik-buterin-ethereums-price-rise-increases-our-sovereignty/

Perhaps he already did , perhaps it was others ? Any which way , until The Ethereum Foundation finds funding elsewhere they will be forced to continue dumping large amounts of their premine onto the market to fund all their expenses... This coupled with the high inflation indicated either a slow or fast capitulation from this bubble.

Love his outfits though... purple is def in!



legendary
Activity: 1568
Merit: 1000
If bitcoin should fail it would take every other coin down with it. There will be no confidence left in cryptocurrency period.

It will definitely not take ETH since now it gained the image of the "anti" Bitcoin, a more corporate, clean slate technology. This is a fact, however for that to happen ETH should start to get away from being priced in BTC. I think we'll see some major announcements and deals in the next weeks (Coinbase for example). When you start thinking on ETH in terms of fiat and not BTC, you'll see the real bubble.
legendary
Activity: 1806
Merit: 1164
If bitcoin should fail it would take every other coin down with it. There will be no confidence left in cryptocurrency period.
legendary
Activity: 1568
Merit: 1000
Lol Bitcoiners had a "good" day after all the agony that's still ahead and like to pick a bad day based on fake news, the price is already recovering and should touch 0.03 again during the weekend. We'll see where BTC and ETH are by the end of the year...

lol good luck with that. I have a target of around 0.016-0.018 for this.

You sure about that? I bought at the bottom today and I'll buy at those numbers too. Yesterday was another pathetic attempt to make Bitcoin happen. Now the price of BTC plummeted again, something nobody talks about...

I don't care if we don't see 0.03 in the next days, we'll eventually (and much more), maybe in a month. But one thing I know is for sure, Bitcoin will be back to sub $400 very very soon.

Of course I'm not sure - but I have a higher level of confidence in it than other estimates. I have smaller buys higher up the book as well (in fact, one got filled today), but that's where I'm centering the majority of my bids. If I see that 0.02 is holding, I will re-evaluate.

Well done if you bought at the bottom today, though I am sure you have bought in higher already given that you considered it to be recovering previously and that .025-028 was a great price to get in.

Regarding Bitcoin, folk probably don't talk about its movements here because this is the alt section.

I did buy at 250-270 but not that much, I knew the downtrend would continue and was pleasantly surprised that my low 200k orders got filled. Either way I'm not worried, this is really a gift from the gods since I know Ethereum will be much more valuable as time passes (and I don't have any faith on BTC uprising even with the halvening, quite the contrary).

I think the actual bubble on ETH started at $7-8 when Homestead started to approach, it should've never reach $15 that quickly. I feel we'll never see $5 again unless there are some very bad news. It would be very easy to put some money below $5 and just have enough ETH to stake...so it won't happen.

Consider that there was also no recent news or announcements made, so this is as low as it can get, perhaps it can touch your numbers, that would be amazing really in my opinion, I'll stack up. If tomorrow Coinbase announces it will sell ETH or a similar deal like that, a new bubble will start. Crypto is a risky investment but if you are willing to hold I think Ethereum is bound to $20 at least sometime during this year alone. The BTC ship is really shinking and I feel many companies will start to flee to leave BTC only to some speculators, chinese miners and decentralized idealists (oh the irony)...
legendary
Activity: 2842
Merit: 1511
Lol Bitcoiners had a "good" day after all the agony that's still ahead and like to pick a bad day based on fake news, the price is already recovering and should touch 0.03 again during the weekend. We'll see where BTC and ETH are by the end of the year...

lol good luck with that. I have a target of around 0.016-0.018 for this.

You sure about that? I bought at the bottom today and I'll buy at those numbers too. Yesterday was another pathetic attempt to make Bitcoin happen. Now the price of BTC plummeted again, something nobody talks about...

I don't care if we don't see 0.03 in the next days, we'll eventually (and much more), maybe in a month. But one thing I know is for sure, Bitcoin will be back to sub $400 very very soon.

Of course I'm not sure - but I have a higher level of confidence in it than other estimates. I have smaller buys higher up the book as well (in fact, one got filled today), but that's where I'm centering the majority of my bids. If I see that 0.02 is holding, I will re-evaluate.

Well done if you bought at the bottom today, though I am sure you have bought in higher already given that you considered it to be recovering previously and that .025-028 was a great price to get in.

Regarding Bitcoin, folk probably don't talk about its movements here because this is the alt section.
sr. member
Activity: 434
Merit: 250
Lol Bitcoiners had a "good" day after all the agony that's still ahead and like to pick a bad day based on fake news, the price is already recovering and should touch 0.03 again during the weekend. We'll see where BTC and ETH are by the end of the year...

lol good luck with that. I have a target of around 0.016-0.018 for this.

You sure about that? I bought at the bottom today and I'll buy at those numbers too. Yesterday was another pathetic attempt to make Bitcoin happen. Now the price of BTC plummeted again, something nobody talks about...

I don't care if we don't see 0.03 in the next days, we'll eventually (and much more), maybe in a month. But one thing I know is for sure, Bitcoin will be back to sub $400 very very soon.

it was as low as $225 last summer. it seems a bit full at $4XX
legendary
Activity: 1568
Merit: 1000
Lol Bitcoiners had a "good" day after all the agony that's still ahead and like to pick a bad day based on fake news, the price is already recovering and should touch 0.03 again during the weekend. We'll see where BTC and ETH are by the end of the year...

lol good luck with that. I have a target of around 0.016-0.018 for this.

You sure about that? I bought at the bottom today and I'll buy at those numbers too. Yesterday was another pathetic attempt to make Bitcoin happen. Now the price of BTC plummeted again, something nobody talks about...

I don't care if we don't see 0.03 in the next days, we'll eventually (and much more), maybe in a month. But one thing I know is for sure, Bitcoin will be back to sub $400 very very soon.
legendary
Activity: 2842
Merit: 1511
Lol Bitcoiners had a "good" day after all the agony that's still ahead and like to pick a bad day based on fake news, the price is already recovering and should touch 0.03 again during the weekend. We'll see where BTC and ETH are by the end of the year...

lol good luck with that. I have a target of around 0.016-0.018 for this.
legendary
Activity: 2184
Merit: 1024
Vave.com - Crypto Casino
Lol Bitcoiners had a "good" day after all the agony that's still ahead and like to pick a bad day based on fake news, the price is already recovering and should touch 0.03 again during the weekend. We'll see where BTC and ETH are by the end of the year...
Indeed. ETH is a fantastic new tech still in its embryonic stages. Remember we are just out of beta. A lot of good times ahead for ETH and the guys. Let's not forget the successful POC conducted by R3CEV on behalf of 40 of the worlds largest banks. Talking of which R3CEV are funding next weeks Ethereum Socrates meeting in NYC.
legendary
Activity: 924
Merit: 1000
pumpers become now the dumpers ... shorts will be ruthless with this puffed up nothingness

I dunno...Even if you're absolutely right, shorting is a well-traveled way to get punished for being right. Undecided

"The market can remain irrational for far longer than you can remain solvent"
- J.M. Keynes...or any short-seller who got liquidated by a margin call only to see the overpriced you-know-what crater three months later.
legendary
Activity: 1568
Merit: 1000
Lol Bitcoiners had a "good" day after all the agony that's still ahead and like to pick a bad day based on fake news, the price is already recovering and should touch 0.03 again during the weekend. We'll see where BTC and ETH are by the end of the year...
legendary
Activity: 3920
Merit: 2349
Eadem mutata resurgo
pumpers become now the dumpers ... shorts will be ruthless with this puffed up nothingness
sr. member
Activity: 434
Merit: 250
But you guys are forgetting the move to pos is scheduled for the end of year. When that happens inflation will more less 0

Switching to PoS simply means a change in security model to weaken ethereum as a tradeoff to eliminate PoW. The issuance and inflation may still be high -

In this case much higher inflation than bitcoin.

https://blog.ethereum.org/2014/04/10/the-issuance-model-in-ethereum/

Quote
"Taking into account both creation of new ETH and loss of existing ETH, in the first year, this represents a monetary inflation rate of 22.4%.  In the second year the rate drops to 18.1%.  By the tenth year, the rate is 7.0%.  In year 38, it hits 1.9%. And in the 64th year, the level of 1.0% is reached."

In this case bitcoin will reach less than 1% inflation in 2021, and Ethereum will reach 1% after 2080 (iF it is still around).
The more complicated matter is people are investing in a coin where Vitalk hasn't even made up his mind concerning the future inflation rate* and may stay to the original plan or change it at the last moment. Such is the case with a centrally planned work in progress.

*This is a really troubling fact. It is quite insane that people are throwing money at an unfinished whitepaper where the variables of coin distribution and security/consensus algorithm have yet to be determined.

https://www.reddit.com/r/ethereum/comments/3evolq/how_many_ethers_are_going_to_be_created_in_the/

*yes, it is troubling. i'm considering organising a forum day trip to Zug. bring sandwiches and a nutcracker
legendary
Activity: 994
Merit: 1035
But you guys are forgetting the move to pos is scheduled for the end of year. When that happens inflation will more less 0

Switching to PoS simply means a change in security model to weaken ethereum as a tradeoff to eliminate PoW. The issuance and inflation may still be high -

In this case much higher inflation than bitcoin.

https://blog.ethereum.org/2014/04/10/the-issuance-model-in-ethereum/

Quote
"Taking into account both creation of new ETH and loss of existing ETH, in the first year, this represents a monetary inflation rate of 22.4%.  In the second year the rate drops to 18.1%.  By the tenth year, the rate is 7.0%.  In year 38, it hits 1.9%. And in the 64th year, the level of 1.0% is reached."

In this case bitcoin will reach less than 1% inflation in 2021, and Ethereum will reach 1% after 2080 (iF it is still around).
The more complicated matter is people are investing in a coin where Vitalk hasn't even made up his mind concerning the future inflation rate* and may stay to the original plan or change it at the last moment. Such is the case with a centrally planned work in progress.

*This is a really troubling fact. It is quite insane that people are throwing money at an unfinished whitepaper where the variables of coin distribution and security/consensus algorithm have yet to be determined.

https://www.reddit.com/r/ethereum/comments/3evolq/how_many_ethers_are_going_to_be_created_in_the/
ask
legendary
Activity: 1386
Merit: 1004
Eth is dead.  Next shitcoin please.
hero member
Activity: 1568
Merit: 507
The title should be changed to ETH price tanking, Are you going to sell ETH for BTC?
sr. member
Activity: 616
Merit: 300
But you guys are forgetting the move to pos is scheduled for the end of year. When that happens inflation will more less 0
legendary
Activity: 3066
Merit: 1188
Lies and complete FUD!! There is 90m cap. Not 20m new ETH a year. Quit lying.

Ok, having looked into it in a bit more detail:

If we work from the block reward up: around 5.7 ETH per block, 7200 blocks per day = 41000 Ether per day = about 15 Million new Ether per year.

On the other hand, if we work from the genesis block back, using this model for the calculation:

72 Million x 0.3 = 21.6 Million new Ethers per year (= 57000 per day)

I don't think that's FUD. It's just doing calculation based upon the best available figures I could find. If you have any more authoritative ones that conflict with these, please post them.

Refs:

Ethereum Issuance Model: https://blog.ethereum.org/2014/04/10/the-issuance-model-in-ethereum/
Forum Discussion 1: https://www.reddit.com/r/ethereum/comments/3evolq/how_many_ethers_are_going_to_be_created_in_the/
Forum Discussion 2: https://www.reddit.com/r/ethereum/comments/37r3st/is_it_worth_buying_a_gpu_for_mining/

P.S. It's even acknowledged by the designers themselves in that "Issuance Model" document that Ethereum is not a good store of value - especially in the early years.

Quote
the constant issuance, especially in the early years, will likely make using ETH to build businesses in the Ethereum economy more lucrative than hoarding speculatively

The market has got away ahead of itself. In a few years time, growth in industrial use of Ether may outpace issuance to an extent that it becomes a better store of value than bitcoin. But right now, speculative valuations are no substitute for that.

See also this guy.
sr. member
Activity: 358
Merit: 250
there is not a 90m cap, the guy doesn't have a clue if that's what he's trying to say. Looking here might help
https://bitcointalksearch.org/topic/the-answer-to-the-question-what-the-final-coin-amount-of-ethereum-will-be-1345668
check those inflation figures lol
15.6m new ETH every year
sr. member
Activity: 434
Merit: 250

55 thousand new Ethers per day coming into the supply.

Need to keep increasing the marketcap just to maintain the price.

1500 BTC in buys (per day) should do it  Wink

Lies and complete FUD!! There is 90m cap. Not 20m new ETH a year. Quit lying.

a 90m cap? where is that carved in stone?
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