ETH price soaring. Are you going to move some BTC into ETH? - page 75.

Bobsurplus

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Making money since I was in the womb! @emc2whale

Quote from: yefi on March 13, 2016, 06:34:46 PM

Quote from: Bobsurplus on March 13, 2016, 05:17:45 PM

Im thinking about going all in on ether, seriously.. And this is way outside of my character.
Anyone here go all in on eth?

Or you could just give your Bitcoin to me if you like? Tongue

This thing has gone up 17-fold in two months - with an increasingly steep trajectory - such that were it to continue this path it would reach 4 trillion before September. Obviously, it must break this trend, and when it does, you will see just how much the holders truly believe in it beyond price.

I can tell you this, they are such adherents of the technology, that they hold over 11 million ETH at Polo and have not even moved it into their own wallets.

But what if i told you those were my coins on the exchange??? Grin

Bobsurplus

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Making money since I was in the womb! @emc2whale

Quote from: toknormal on March 14, 2016, 05:22:08 AM

Quote from: mtnsaa on March 13, 2016, 05:28:53 PM

However, buying and holding and jumping on this new ship is not easy at all. I now understand the doubts of Bitcoiners in 2013...I'm sure many early adopters just sold at $10 or $20 and never even imagined it could go at high as $1000. I know for a fact that many Ethereum pre-sale buyers sold their stash at 40-50k satoshis or well below 100k...now it's pushing $20.

I think anyone going "all in" on Ether seriously needs their head examined.

A more useful question to answer is at what point to go "all out". There is no analogy with "Bitcoin 2010" at all because Ether serves a completely different purpose than Bitcoin.

See if you can answer this question: Even ETH maintains its marketcap of $1 Billion, what will be the exchange rate of your Ether against bitcoin in a year's time ? (No trading analysis needed - the answer's academic and a calculator will do).

Or even: If ETH increases its marketcap by 10% over the next year (which will be impressive in its own right after a year's worth of profit taking), what will be the exchange rate of your Ether coins against bitcoin then ?

P.S.

Quote from: Bobsurplus on March 13, 2016, 05:17:45 PM

Im thinking about going all in on ether, seriously.. And this is way outside of my character.
Anyone here go all in on eth?

He's not because he understands what I'm alluding to and he's getting ready to go "all out". He just wants you to go "all in" so he can grab your bitcoin.

lmao... my intentions are my own bro... I actually am thinking about putting a large portion of my btc into eth. It just seems to be more viable for a long term investment at this point.
Bitcoin had its prime, its time to move over and let eth have some fun.

toknormal

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Quote from: thms on March 14, 2016, 08:05:04 AM

20 million coins seem like an impressive number for the average person but in reality it is very minuscule in a global market.

It's not miniscule. It's huge.

You need to measure everything relatively - not in absolutes. If you're thinking that 60 Million coins are going to have a very large marketcap then 20 million coins (or whatever it is - have not checked the exact amounts) is a monstrous 30% of that. It means that the coin price against the dollar has to keep appreciating just to maintain its cap.

If Bitcoin then appreciates at all against the dollar then Ethereum has to appreciate by even more just to maintain its price in BTC (ETH/BTC ratio).

Another thing (regarding pbleak's post). Remember that currency is just a denomination, not necessarily an asset. You are not trading the asset just because you denominate a trade in a particular currency. So Ethereum's technical properties don't therefore give it any advantage in terms of adoption as a 'currency' (witness the gold trade - no gold leaves the vaults). It's just another asset - moreover one that leaks value far faster than bitcoin.

bitbitch

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Quote from: toknormal on March 14, 2016, 08:00:20 AM

Quote from: pbleak on March 14, 2016, 07:12:35 AM

you are not factoring into whether people are treating it *as if* it is a currency such that it effectively becomes one due to its usage. In other words you may be technically correct but ontologically off.

For that reason I've left a bit in the market, but I would not dream of going "all in".

Even if there are people treating it "as if* it is a currency", there are likely to be at least as many who are not aware of the massive mining supply thats around the corner. 20 million coins that come from nowhere getting dumped on the market over 12 months.

The only way Ethereum's a viable investment is if bitcoin collapses and it moves to a genuine reserve status. (i.e. the ETH/BTC ratio would continue to grow even if it's marketcap in dollars remains the same). If, however, bitcoin maintains its dollar marketcap then I'm unlikely to be "ontologically off" I would have thought.

20 million is the minimum. dear Vitalik started making vague noises after this bubble began to expand about capping the total supply to 100 million by next year, but i take that as meaning not a lot as until now it was always going to be 1 Bn. if this was a regulated market he would be censured for making such a statement.

thms

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Quote from: toknormal on March 14, 2016, 08:00:20 AM

Quote from: pbleak on March 14, 2016, 07:12:35 AM

you are not factoring into whether people are treating it *as if* it is a currency such that it effectively becomes one due to its usage. In other words you may be technically correct but ontologically off.

For that reason I've left a bit in the market, but I would not dream of going "all in".

Even if there are people treating it "as if* it is a currency", there are likely to be at least as many who are not aware of the massive mining supply thats around the corner. 20 million coins that come from nowhere getting dumped on the market over 12 months.

The only way Ethereum's a viable investment is if bitcoin collapses and it moves to a genuine reserve status. (i.e. the ETH/BTC ratio would continue to grow even if it's marketcap in dollars remains the same). If, however, bitcoin maintains its dollar marketcap then I'm unlikely to be "ontologically off" I would have thought.

20 million coins seem like an impressive number for the average person but in reality it is very minuscule in a global market.

toknormal

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Quote from: pbleak on March 14, 2016, 07:12:35 AM

you are not factoring into whether people are treating it *as if* it is a currency such that it effectively becomes one due to its usage. In other words you may be technically correct but ontologically off.

For that reason I've left a bit in the market, but I would not dream of going "all in".

Even if there are people treating it "as if* it is a currency", there are likely to be at least as many who are not aware of the massive mining supply thats around the corner. 20 million coins that come from nowhere getting dumped on the market over 12 months.

The only way Ethereum's a viable investment is if bitcoin collapses and it moves to a genuine reserve status. (i.e. the ETH/BTC ratio would continue to grow even if it's marketcap in dollars remains the same). If, however, bitcoin maintains its dollar marketcap then I'm unlikely to be "ontologically off" I would have thought.

pbleak

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Quote from: toknormal on March 14, 2016, 05:22:08 AM

I think anyone going "all in" on Ether seriously needs their head examined.

A more useful question to answer is at what point to go "all out". There is no analogy with "Bitcoin 2010" at all because Ether serves a completely different purpose than Bitcoin.

I really respect your analyses (in general), but there at least another reading here where you are not factoring into whether people are treating it *as if* it is a currency such that it effectively becomes one due to its usage. In other words you may be technically correct but ontologically off.

bitbitch

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i'm sure several Swiss lawyers are acting as nominee for clients with links to the Ethereum Foundation.

the "i'm not holding coin" denial would mean absolutely nothing.

mr001

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https://i.imgur.com/anpUpg7.jpg

Quote from: bitbitch on March 14, 2016, 04:35:54 AM

Quote from: mr001 on March 14, 2016, 04:04:19 AM

Quote from: BlindMayorBitcorn on March 13, 2016, 08:09:40 PM

Quote from: yefi on March 13, 2016, 07:43:35 PM

Quote from: BlindMayorBitcorn on March 13, 2016, 06:38:46 PM

The last math I heard: out of 70 million+ Ethers currently in existence only 11 million are in the wild. That would mean they are all on Polo right now?

I'd question the math. The crowdsale was for about 60 million and 17 million more have been mined since then. The Ethereum Foundation owns BTC from the crowdsale. The last I heard they barely held any ETH.

I stand corrected. But Vitalik did post on Reddit during the run-up that he/they were selling OTC.

Sorry, I am a new hier, what is a OTC?

over the counter - buy coin in bulk from an exchange outside the bid/ ask system of trading. the value of the buy does not influence the market price.

you would go to Poloniex and ask to buy 100,000 from the whale with 1.2 million ether sitting in his/ her Poloniex account.

why should Vitalik sale OVC?

toknormal

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Quote from: mtnsaa on March 13, 2016, 05:28:53 PM

However, buying and holding and jumping on this new ship is not easy at all. I now understand the doubts of Bitcoiners in 2013...I'm sure many early adopters just sold at $10 or $20 and never even imagined it could go at high as $1000. I know for a fact that many Ethereum pre-sale buyers sold their stash at 40-50k satoshis or well below 100k...now it's pushing $20.

I think anyone going "all in" on Ether seriously needs their head examined.

A more useful question to answer is at what point to go "all out". There is no analogy with "Bitcoin 2010" at all because Ether serves a completely different purpose than Bitcoin.

See if you can answer this question: Even ETH maintains its marketcap of $1 Billion, what will be the exchange rate of your Ether against bitcoin in a year's time ? (No trading analysis needed - the answer's academic and a calculator will do).

Or even: If ETH increases its marketcap by 10% over the next year (which will be impressive in its own right after a year's worth of profit taking), what will be the exchange rate of your Ether coins against bitcoin then ?

P.S.

Quote from: Bobsurplus on March 13, 2016, 05:17:45 PM

Im thinking about going all in on ether, seriously.. And this is way outside of my character.
Anyone here go all in on eth?

He's not because he understands what I'm alluding to and he's getting ready to go "all out". He just wants you to go "all in" so he can grab your bitcoin.

useless eater

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Quote from: Bobsurplus on March 13, 2016, 05:17:45 PM

Im thinking about going all in on ether, seriously.. And this is way outside of my character.
Anyone here go all in on eth?

Yeah I was pretty much forced to go all in Ethereum because I completely missed the bitcoin train, but I had to start diversifying down the top 10 volume leaders at the end of February when the price started rocketing

bitbitch

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Quote from: mr001 on March 14, 2016, 04:04:19 AM

Quote from: BlindMayorBitcorn on March 13, 2016, 08:09:40 PM

Quote from: yefi on March 13, 2016, 07:43:35 PM

Quote from: BlindMayorBitcorn on March 13, 2016, 06:38:46 PM

The last math I heard: out of 70 million+ Ethers currently in existence only 11 million are in the wild. That would mean they are all on Polo right now?

I'd question the math. The crowdsale was for about 60 million and 17 million more have been mined since then. The Ethereum Foundation owns BTC from the crowdsale. The last I heard they barely held any ETH.

I stand corrected. But Vitalik did post on Reddit during the run-up that he/they were selling OTC.

Sorry, I am a new hier, what is a OTC?

over the counter - buy coin in bulk from an exchange outside the bid/ ask system of trading. the value of the buy does not influence the market price.

you would go to Poloniex and ask to buy 100,000 from the whale with 1.2 million ether sitting in his/ her Poloniex account.

bitbitch

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Quote from: Bobsurplus on March 13, 2016, 05:17:45 PM

Im thinking about going all in on ether, seriously.. And this is way outside of my character.
Anyone here go all in on eth?

go on then.

mr001

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https://i.imgur.com/anpUpg7.jpg

Quote from: BlindMayorBitcorn on March 13, 2016, 08:09:40 PM

Quote from: yefi on March 13, 2016, 07:43:35 PM

Quote from: BlindMayorBitcorn on March 13, 2016, 06:38:46 PM

The last math I heard: out of 70 million+ Ethers currently in existence only 11 million are in the wild. That would mean they are all on Polo right now?

I'd question the math. The crowdsale was for about 60 million and 17 million more have been mined since then. The Ethereum Foundation owns BTC from the crowdsale. The last I heard they barely held any ETH.

I stand corrected. But Vitalik did post on Reddit during the run-up that he/they were selling OTC.

Sorry, I am a new hier, what is a OTC?

funkenstein

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Khazad ai-menu!

Quote from: Minecache on March 14, 2016, 12:49:25 AM

Max supply is 90m. Read the white paper. Stop spreading FUD.

From "the whitepaper" which I guess (?) you mean as this:
https://github.com/ethereum/wiki/wiki/White-Paper#blockchain-and-mining

we find:
"0.26x the total amount sold will be allocated to miners per year forever after that point."

That's quite clearly an unlimited supply. Nothing about 90m in there

However thanks for getting me to check it out. This is hardly a paper. It is a vague meandering generalization of interesting ideas, at times contradictory and never precise. The author doesn't make any attempt to use academic references. Not like it matters much anyway, the details we need should be in the code right? After all, consensus is shaped by the code not by the ~~whitepaper~~ git hosted blog, and we've all seen words that don't quite match reality haven't we. Maybe the supply is limited after all?

So lets go take a look shall we? Source is online right? Oh look, it's not one repository, it is 100 repositories to wade through. Looks like mostly documentation, fragmentation, eneterprisey stuff. Some searching leads me to believe most people use "go-ethereum". Inside "core" there I find in "fees.go" :

var BlockReward *big.Int = big.NewInt(5e+18)

which gets used by the AccumulateRewards function in state_processor.go. For what little it is worth here, in my opinion this looks like a fixed reward.

Minecache

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Vave.com - Crypto Casino

Quote from: funkenstein on March 13, 2016, 07:35:57 PM

Quote from: Minecache on March 13, 2016, 07:21:01 PM

Quote from: adhitthana on March 13, 2016, 07:19:15 PM

Thanks guys. I had heard that but found it hard to find information.
Might not suit me (except for a trade).

But with unlimited supply...no wonder the banks like it

Supply is limited. It's FUD spreaders who try to refute this. Read the white paper.

An annual X% increase, no matter how small is X, means there is no maximum supply.
Perhaps you could still call it "limited" because the annual increase is limited. More limited than fiat at least lol.

This is also true of e.g. Doge, Peercoin, 42coinhttp://frass.woodcoin.org/the-42coin-saga/, and most all the proof of stake coins.

Max supply is 90m. Read the white paper. Stop spreading FUD.

yefi

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Quote from: BlindMayorBitcorn on March 13, 2016, 08:09:40 PM

I stand corrected. But Vitalik did post on Reddit during the run-up that he/they were selling OTC.

Just checked and you're right - seems the Foundation recently had about 1.65 million ETH.

mtnsaa

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I'm still here haters, ETH right back at 0.0320...I admit I almost had a heart attack but crypto trading is amazing...this really reminds me of 2013 Bitcoin, only that I didn't even know what was BTC back then hehe.

boolberry

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Markets going crazy right now. I knew the bubble would pop at some point.

Buy the rumor, sell the news seems to be the strategy of today for Ethereum.

BlindMayorBitcorn

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Quote from: yefi on March 13, 2016, 07:43:35 PM

Quote from: BlindMayorBitcorn on March 13, 2016, 06:38:46 PM

The last math I heard: out of 70 million+ Ethers currently in existence only 11 million are in the wild. That would mean they are all on Polo right now?

I'd question the math. The crowdsale was for about 60 million and 17 million more have been mined since then. The Ethereum Foundation owns BTC from the crowdsale. The last I heard they barely held any ETH.

I stand corrected. But Vitalik did post on Reddit during the run-up that he/they were selling OTC.

Topic: ETH price soaring. Are you going to move some BTC into ETH? - page 75. (Read 198951 times)