Topic: ETH price soaring. Are you going to move some BTC into ETH? - page 83. (Read 198796 times)

 I was just about to point this out but you beat me to it,  i have to laugh at all these posts from people who see themselfs as experts on Ethereum but still do not actually understand the Ethereum core and how it was designed.

Fomo happens all coins,  but the underlying technology in Ethereum is amazing, I remember reading the whitepaper before Ethereum was even built and said to myself theres no way they can pull it off,  fast forward a few years and here we are. The development is consistant and everytime Vitalik delivers what he proposes. It is for this fact that I bought a small portion of Ethereum and continue to mine it,  but make no misteak its a different beast to bitcoin and for different use.

GAS is just a way to represent the cost of transaction independent of ETH price right? If ETH price increases too much, to let's say $1,000, it's possible to reduce gasPrice, so I don't see this scenario you describe of the Ethereum network becoming uncompetitive because of ETH price.

Excellent post mate

For your info: Homestead release will lower gas price by ~60% so whatever the price is, it won't kill some project.

How to lower gasprice on your miner to accept even cheaper transactions: https://www.reddit.com/r/ethereum/comments/499a7w/gas_prices_are_already_kinda_down_to_20_shannon/

I don't know what basis you use for your valuation - and you could be right or could be wrong - but it might be time to start basing valuations of Ether tokens on sober calculation rather than drunken hysteria.

For a start, you can do quite a lot in terms of open source code development for a billion dollars, including reproducing the Ethereum service paradigm probably several times over.

Secondly, what is it we’re investing in actually ?

Ethereum is not like Bitcoin whose tokens carry a monetary premium due to their “bearer property". i.e. the bitcoin IS the asset. On the other hand, in a smart contract network, the assets are only recorded in the blockchain. They are not the actual tokens themselves. The tokens are simply a medium for charging transaction fees and for paying miners to secure the network. (See Simon Dixon's commentary for more info).



Right now, what people are investing in looks like this.


But later it will start to look like this…..



What happens when people start shifting their capital from the token layer to the asset layer ? (For a preview, see the history of the NxT valuation once assets started appearing on that network). Or even shifting their assets off your blockchain to another, less expensive one ?

Thirdly, what happens when the price of GAS gets too expensive and the network becomes uncompetitive ? One of 2 things:

a) other smart contract networks start appearing which are more competitively priced and featured (since they have the advantage of watching the mistakes in the first one)

b) the Ethereum network simply issues more GAS tokens to lower the transaction fee to a competitive level (that's my assumption but better confirm this as I'm not quite sure about how this mechanism works)

So I don’t really agree with you that it will reach $20 per token because it’s probably a good 10 to 100 times past its book value already. Also, the capital it would take would be enormous from here and people WILL start to look at the genuine commercial case for investing in tokens rather than assets, at which point some will get a bit of a fright.

The power of FOMO is strong with this one, (full disclosure - I left some skin in the game for this reason) but people should be clear about what they’re investing in - other people’s hysteria, not an advanced technology with a book value that’s genuinely manifesting in the market. Be advised that such FOMO can disappear as fast as the froth on a cappucino and everyone’s waiting nervously for that moment, with fingers on mouses at the ready.

b.t.w. I’m not posting this to malign the product. I think it’s a promising and exciting technology. Also, Vitalik is a visionary guy who I like listening to and to his great credit has stayed away from hyping the token price with complete professionalism. But I think people buying at this price should be aware of what they’re purchasing and it might be irresponsible to be encouraging folks to do so any longer now.

Wherever the top is, some investors are about to loose a very large amount of money - or at least it looks like that to me when I watch the size of some of those trades going in at all-time-highs. It just depends on who's at the front of the queue at the wrong moment.

Well done on correctly predicting that. When do you think we may see $20?

Destroyed. If you look previously in the subtopic here , I predicted Ether would be $10+ back in February and I was correct. I bet Ether goes up $20+.

Hmm, the value of the individual unit means very little - same with shares. I have a hard time explaining this to people who think that penny shares are "cheap" and shares that are ten pounds are "expensive".



His words carry about as much weight as a dead donkey for me, but then I guess shallower minds have been canonised.

In Crypto, news gets priced in weeks in advance of it actually happening. Thats because power of expectation is far more potent than the power of actuality. So I'm not expecting any fireworks next week.

Combine that with the fact that.....[1] it's not a "bearer token", [2] has basically an unlimited supply [3] there are now smart contract blockchains springing up all over the place like mushrooms after a rainshower [4] bearish double top - [5] - just because you hold some gas doesn't mean you hold the assets that get built on it (whereas with bitcoin you do coz bitcoin IS the asset))....and I've reduced my exposure to this market by 70%. (Timber is cheaper than a timber house, sand is cheaper than a glass palace).

Litecoin also went sky high on FOMO power because everyone thought it was going to take over from bitcoin (and it WAS a bearer token !). Make no mistake. Ether is not the next bitcoin, though it may do ok for a while before the big retrace arrives.

We'll see what happens next week. We're at 1000% gain already in 30 days. Musn't get too greedy and loose everything in the crash

Turn down so to preserve your coins lol
ETH going down hard today don't be the last one to jump ship!
PM me for a shoulder to cry on afters.

Turn down for what?

Next target is .003 sorry guys it's been a fun ride but the crash landing is almost here. Short short short!!!

I hope you guys don't lose out too much. Don't be mad at me once you figure out I'm right. Good luck!

I didn't see this coming, the $1B marketcap is going to be reached really soon if this rally continues.

Every downturn I think it will drop farther than it does - this shit is crazy.

We've seen 10 on an alt before and much higher even. Albeit rarely with this much corporate buzz. I'm bullish, but a proper rally is in order to settle people long-term. You can see the uncertainty in weaker hands with the current mini-swing.

It's turned around all right: now above 0.029. I admit, I thought it would drop father than it did.

I don't know, I think $10 for me is a huge barrier, even $5 for certain coins is quite an achievement. I think we are a deal or an announcement away from a huge spike that could potentially be a paradigm shift in the cryptoworld. BTC fanboys are still undermining ETH potential, if this trend continues I don't know what could happen. Nothing last forever.

BTC can still survive as a storage of wealth in my opinion, but it's very clear for me that Hearn's words were deeply prophetic and full of truth. It failed, it had its time but it never got adopted massively. But if Bitcoin wanted to be some sort of payment system, it failed miserably and that's a fact.

Psychologically I don't think people will be settled until they see around 15USD to start to believe. Though other coins have been here before, e.g. DRK.

So are we still debating if ETH price is artificial? This will continue until there are some major BTC news but the near future is grim as hell. I'm very surprised of how well BTC price held, although I'm still believing that many people are buying BTC just to get ETH.

Many deals and announcements will be made on Monday once Homestead is released, there are talks about new exchanges accepting ETH once is out of beta.

I think a slow build up until Pi Day then WHAM!!!

Pretty soon I expect. I suspect we'll see a little run.