Topic: Ethereum KILLING BITCOIN! - page 2. (Read 10111 times)

3k7 ? https://blockchain.info/en/address/36PrZ1KHYMpqSyAQXSG8VwbUiq2EogxLo2?filter=1

http://www.coindesk.com/price/
btc dumps few hours after the etherum's sells, correlation

Do we know how much they have dumped yet, so we have an inkling of what's to come?

Sure, 4000 coins is not much more than what's mined in a day, so it's nothing we can't handle, but it will drive down the price for a while.

Bitcoin is still in good shape nothing to see here.

this is why ipo are bad, because the one who run the ipo can dump at whatever price, they got them for "free" basically

source?

if it's true might see new dump(s) soon

The 26000 BTC is on top of miners selling. So, someone has to buy up that much btc to keep the price afloat.

so you are saying that double inflation on 8 days can influence the price downwards for over 10 % for Weeks?

8 days worth of the total inflation of a any given currency is an incredibly HUGE sum. Try to extrapolate such a thing to the USD or to any fiat currency of your choice, and add to that the fact that the BTC inflation decreases over time until deflation takes over, which doesn't apply to the USD.

But 26000 BTC is nothing, only 8 days of mining...

The expectation of the coin going to be sold off will cause the price to drop.

The current price always reflect the future event and not current one.

Total FUD. Most the Etherium IPO funds remain intact and what has been sold was not significant enough to move the market in any meaningful way.

Is this similar to Reggie Middleton's ultra-coin?
http://ultra-coin.com/

I do not understand the ultra coin client yet but it seems like one-to-one bets with other ultra coin users on the basis of Bitcoins, locked in a wallet. Seems a nice way to cut out the middleman.

If they are sincere in contributing, why ask money from the public? Do they really need 13M+ to develop the project?

Kind of tell people how shallow the buy side for bitcoin is. Any whale can cause bitcoin to crash a lot.

Ethereum raised +26k BTC because people is so irrational they do not understand how bad an investment it might be. Ethers are NOT designed to be scarce and valuable as bitcoins are, Ethers are just tokens used to reward nodes running code on the ethereum network. Furthermore, the final supply is still unknown, the ethereum team is free to create Ethers out thin air as they see fit and inflation will be extremely high - they cannot be too scarce by design, that would hurt their main purpose.

Making a long story short, ethereum as a scripting language might enable awesome smart contracts but Ethers as a currency complete lack the economic incentives that make Bitcoin valuable and potentially much more valuable in the future. Bitcoin is built to be a gold-like, scarce commodity that has all the elements to be "good money", on the contrary Ethers are just "credits", which supply is controlled by a central authority, and which are built to be a security and anti-spam tool for a distributed network.

If you don't plan to build anything on the ethereum network, then you do not need Ethers.

If you bought Ethers because its "Bitcoin 2.0",then you were deeply misguided by ethereum team's marketing.

If you bought into ethereum planning to have a ROI, then your only chance is for the hype to grow, attracting to the market greater fools that do not understand what ethereum is, and what are the economic incentives attached to it.

Back on topic: it seems strange that the ethereum team is dumping instead of making off-exchange transactions. And BTW, which exchange are they using?

Yeah obviously a 26 k dump will send bitcoin price way down, but they say they will only sell 3k now, which already have been sold.. thats why the price dropped like 80 usd. And they will hold the remaining amount.

Pretty sure selling 3,000 BTC would do this to the price, wouldn't it?

But yet all the sheep were scared shitless that 30K SR Auction coins were going to hit the exchanges.  Scared. Fkn. Shitless.  It's all anyone talked about for 3+ weeks.

I don't condone violence but trust me, if they simply walk away, the targets on the Vitalik and Charles backs will be bigger than Karpeles'. ...

There are a lot of institutional investors and very wealthy people pouring money into Ethereum IPO.  Some extremely smart people as well, despite popular opinion on this forum.

It wouldn't be prudent for them not to perform in 2014/15 as expected.

-B-

The market depth can not absorb 26k coins without the price going down by a lot.