Topic: How will Ethereum's launch affect BTC's price? (Read 5240 times)
ETH rising. Anything under $1 consider yourself lucky
ethereum popping (~50% off lows). bitcoin-not affected.
market cap ~60 mil vs 4 bil for bitcoin.
market cap ~60 mil vs 4 bil for bitcoin.
So between Polo and Kraken since trading has begun there has been around 2.5+ mil ETH moved onto exchanges and 1.2+ mil traded, all in BTC. The last 24 hours have seen 1.2k ETH/USD traded by comparison on Kraken. So the drop in BTC price was likely largely in part due to ethereum sellers cashing out.
This also means, that there has been almost no new money invested in ETH yet, just the existing crypto currency holders. Will be interesting to see what money comes onto exchanges next week and how China reacts to exchanges launching.
In my mind, Ethereum is not a currency intended to be used in shops or even as a safe store of value, only as the gas to run de-centralised applications, and therefore not a threat to BTC. Only in the sense that it may provide developers opportunities to create a better version of BTC, but that's the threat it's always faced and is capable of adapting to. It is not a direct competition though. So I don't think there should be any hostility... Both are actually complimentary.
This also means, that there has been almost no new money invested in ETH yet, just the existing crypto currency holders. Will be interesting to see what money comes onto exchanges next week and how China reacts to exchanges launching.
In my mind, Ethereum is not a currency intended to be used in shops or even as a safe store of value, only as the gas to run de-centralised applications, and therefore not a threat to BTC. Only in the sense that it may provide developers opportunities to create a better version of BTC, but that's the threat it's always faced and is capable of adapting to. It is not a direct competition though. So I don't think there should be any hostility... Both are actually complimentary.
hmmm bitcoin value is going down, but it doesn't seem to be because of ethereum, as it is going down even faster.
It was so obvious that ETH would crash. Im so glad I didn't buy into the hype. The only way to profit from it would have been by buying at the ICO and dumping as soon as it hits the exchanges.
hard to believe that one exchange in one state can affect bitcoin's price by that much.
It is not just Bitfinex. Apparently they all have the same deadline on NY bitlicense. (either shut off NY customers or comply with that fascistic license)Here is another one:
https://poloniex.com/
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In accordance with the New York State Department of Financial Services, Poloniex will no longer be allowed to provide services to residents of the State of New York starting on August 8th, 2015.
hard to believe that one exchange in one state can affect bitcoin's price by that much.
hmmm bitcoin value is going down, but it doesn't seem to be because of ethereum
Might be because of this:https://www.bitfinex.com/pages/announcements/?id=51
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Due to financial regulation changes in the State of New York, certain Bitfinex services are no longer available for New York Residents.
hmmm bitcoin value is going down, but it doesn't seem to be because of ethereum, as it is going down even faster.
https://bitcointalksearch.org/topic/ethereum-ico-premine-an-additional-premine-of-12m-eth-or-17-of-current-supply-1147063
Devs created themselves another 12 million coins...
If I had ETH I would be selling them ASAP!
Potential buying target for me is below IPO price for sure now.
Devs created themselves another 12 million coins...
If I had ETH I would be selling them ASAP!
Potential buying target for me is below IPO price for sure now.
Anyone buying at still way inflated/overhyped prices should deserve what they will be getting, a big fat dump.
I'll buy some near IPO prices or maybe even lower when the real panic selling starts, this isn't even the beginning yet, only a very very small part of ETH is sent to exchanges to take profits.
Watch what happens once a couple hundred thousand or a million coins want to take profit before it's too late.
I'll buy some near IPO prices or maybe even lower when the real panic selling starts, this isn't even the beginning yet, only a very very small part of ETH is sent to exchanges to take profits.
Watch what happens once a couple hundred thousand or a million coins want to take profit before it's too late.
I have to agree with you, there are ton of less techie users that don't know how to import their .json files and get a hold of their ETHs. Imagine what will happen to the price when all this people manage to sell.
Price is still 3 and a half times higher than IPO prices so I expect this selling will continue. Add to this huge inflation of about 24% in its first year, we can all see where this is headed.
We will see if this continues, but so far it does not look good for btc, unfortunately.
You could apply the same criteria to a ton of alts. I'm sure this is a different case compared to the average shitcoin but it's slightly early days to be adding to the obituary list.
Anyone buying at still way inflated/overhyped prices should deserve what they will be getting, a big fat dump.
I'll buy some near IPO prices or maybe even lower when the real panic selling starts, this isn't even the beginning yet, only a very very small part of ETH is sent to exchanges to take profits.
Watch what happens once a couple hundred thousand or a million coins want to take profit before it's too late.
I'll buy some near IPO prices or maybe even lower when the real panic selling starts, this isn't even the beginning yet, only a very very small part of ETH is sent to exchanges to take profits.
Watch what happens once a couple hundred thousand or a million coins want to take profit before it's too late.
it's entirely possible in the future, but at the time of my post the numbers were as described: 55% loss in BTC $$value and 300% increase in eth $$value OR 800% increase in eth bitcoin value. In the last 12 mo BTC was a bad investment, and ETH was a good investment.
I have by far most of my crypto in BTC, so it kind of stings a little.
bitcoin- great miner community, lots of development, but piss poor organizational management starting with a bizarre bitcoin foundation all the way to squabbling core dev who cannot agree on anything it seems.
"How will Ethereum's launch affect BTC's price?"
Did you see Aurorcacoin's history?
Let me help you:
Actual ETH price
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Price where I will probably buy
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Stable(?) final price.
Did you see Aurorcacoin's history?
Let me help you:
Actual ETH price
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Price where I will probably buy
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Stable(?) final price.
Anyone buying at still way inflated/overhyped prices should deserve what they will be getting, a big fat dump.
I'll buy some near IPO prices or maybe even lower when the real panic selling starts, this isn't even the beginning yet, only a very very small part of ETH is sent to exchanges to take profits.
Watch what happens once a couple hundred thousand or a million coins want to take profit before it's too late.
I'll buy some near IPO prices or maybe even lower when the real panic selling starts, this isn't even the beginning yet, only a very very small part of ETH is sent to exchanges to take profits.
Watch what happens once a couple hundred thousand or a million coins want to take profit before it's too late.
The facts as they stand right now:
what bitcoin did since Aug 2014: declined from $600 to $270 (55%). The worst 12 mo investment (~ oil).
what ethereum did since Aug 2014: presale was for 2000 eth/btc or 0.0005btc/eth ($0.3/eth)
Right now eth price is 0.00448btc or $1.20/eth
So, eth showed 300% appreciation in $$ and ~800% appreciation in btc.
In other words, you can get eight times more btc for whatever btc you put up for ethereum 12 mo ago. Not bad.
We will see if this continues, but so far it does not look good for btc, unfortunately.
what bitcoin did since Aug 2014: declined from $600 to $270 (55%). The worst 12 mo investment (~ oil).
what ethereum did since Aug 2014: presale was for 2000 eth/btc or 0.0005btc/eth ($0.3/eth)
Right now eth price is 0.00448btc or $1.20/eth
So, eth showed 300% appreciation in $$ and ~800% appreciation in btc.
In other words, you can get eight times more btc for whatever btc you put up for ethereum 12 mo ago. Not bad.
We will see if this continues, but so far it does not look good for btc, unfortunately.
Post-thawing ETH dump may be over, the ETH/BTC price seems to be starting to plateau (bounce?) today:
(screenshot from http://coinmarketcap.com/ )
(screenshot from http://coinmarketcap.com/ )
Well, some noticeable ETH for BTC buying have started today: https://bitcointalksearch.org/topic/m.12086740
The devs have delayed Ethereum trading by another day.
Ethereum should have been trading a few hours ago because that's when it became possible to send coins to the exchanges. However, they asked all the exchanges to delay trading by 24 hours because they might have to roll back their blockchain. That hardly a slick, smooth start.
This is from Poloniex.
Ethereum deposits are delayed 24 hrs from 2015-08-07 03:50 UTC per dev request. The developers may rollback the chain up to 24 hours in case of an issue. As a result, the developers asked all exchanges to wait 5760 confirms (24 hours) to credit ETH deposits in case the chain is rolled back.Posted by OldManKidd at 2015-08-07 05:32:22
Ethereum should have been trading a few hours ago because that's when it became possible to send coins to the exchanges. However, they asked all the exchanges to delay trading by 24 hours because they might have to roll back their blockchain. That hardly a slick, smooth start.
This is from Poloniex.
Ethereum deposits are delayed 24 hrs from 2015-08-07 03:50 UTC per dev request. The developers may rollback the chain up to 24 hours in case of an issue. As a result, the developers asked all exchanges to wait 5760 confirms (24 hours) to credit ETH deposits in case the chain is rolled back.Posted by OldManKidd at 2015-08-07 05:32:22
It looks like polo are making up stories. They probably just do not want to take on a risk of reversal.
Kraken is already trading regardless, but polo only shows bids, some of which are promotional in nature.
One guy wants to be the first to trade eth on polo for some reason, so he put in a bid that equals eth and btc (a few satoshis worth)-ignore it.
The devs have delayed Ethereum trading by another day.
Ethereum should have been trading a few hours ago because that's when it became possible to send coins to the exchanges. However, they asked all the exchanges to delay trading by 24 hours because they might have to roll back their blockchain. That hardly a slick, smooth start.
This is from Poloniex.
Ethereum deposits are delayed 24 hrs from 2015-08-07 03:50 UTC per dev request. The developers may rollback the chain up to 24 hours in case of an issue. As a result, the developers asked all exchanges to wait 5760 confirms (24 hours) to credit ETH deposits in case the chain is rolled back.Posted by OldManKidd at 2015-08-07 05:32:22
Ethereum should have been trading a few hours ago because that's when it became possible to send coins to the exchanges. However, they asked all the exchanges to delay trading by 24 hours because they might have to roll back their blockchain. That hardly a slick, smooth start.
This is from Poloniex.
Ethereum deposits are delayed 24 hrs from 2015-08-07 03:50 UTC per dev request. The developers may rollback the chain up to 24 hours in case of an issue. As a result, the developers asked all exchanges to wait 5760 confirms (24 hours) to credit ETH deposits in case the chain is rolled back.Posted by OldManKidd at 2015-08-07 05:32:22
You guys still trust Poloniex? because they force you now to put your real name etc to withdraw and deposit. Will ETH be in any other places? i want a more anonymous exchange, why should they ask for name even if you only deal with cryptos and not fiat? its absurd.
The devs have delayed Ethereum trading by another day.
Ethereum should have been trading a few hours ago because that's when it became possible to send coins to the exchanges. However, they asked all the exchanges to delay trading by 24 hours because they might have to roll back their blockchain. That hardly a slick, smooth start.
This is from Poloniex.
Ethereum deposits are delayed 24 hrs from 2015-08-07 03:50 UTC per dev request. The developers may rollback the chain up to 24 hours in case of an issue. As a result, the developers asked all exchanges to wait 5760 confirms (24 hours) to credit ETH deposits in case the chain is rolled back.Posted by OldManKidd at 2015-08-07 05:32:22
Ethereum should have been trading a few hours ago because that's when it became possible to send coins to the exchanges. However, they asked all the exchanges to delay trading by 24 hours because they might have to roll back their blockchain. That hardly a slick, smooth start.
This is from Poloniex.
Ethereum deposits are delayed 24 hrs from 2015-08-07 03:50 UTC per dev request. The developers may rollback the chain up to 24 hours in case of an issue. As a result, the developers asked all exchanges to wait 5760 confirms (24 hours) to credit ETH deposits in case the chain is rolled back.Posted by OldManKidd at 2015-08-07 05:32:22
That's what I call a god start.
Curious to see how ethereum will work a few months in the future. What is also interesting, will it hold immediately a top 5 in the cryptomarkets list? After all, they got extreme funding from the bitcoin community. Jump to: