Many are after to exchange ETH with their coins

zxl912157

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Quote from: Indrawan77 on September 06, 2018, 06:43:40 AM

Theoretically it will weakened the bitcoin because the transaction volume of bitcoin is decreasing, but don't too worry about this condition because in the end many people will sell their eth for bitcoin, if all people are trading their bounties coin to eth there is probability that eth will grow stronger and able to replace bitcoin, but that's just theory in the real market there are so many other things that need to consider

It is true that it can reduce the circulation of Bitcoin because Ethereum is widely traded.
But unfortunately Bitcoin is still strong for the King of Cryptocurrency because it can be seen from the high price compared to other crypocurencies.

Yaddady

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Quote from: Mr.frost on September 06, 2018, 06:36:19 AM

What impact would it bring to BTC as the demand for ETH to exchange the coins from bounties,airdrops and other programs is getting high?

I think it's actually the other way round. The dumps ETH is currently suffering is from ICOs dumping their ETH on the market which is what is putting intense pressure on it. Most exchanges have BTC and ETH pairs for trading alts, so bounty, airdrops and other programs could as well choose to trade their tokens in BTC pairs.

X-ray

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Quote from: cowardlyleo on September 07, 2018, 06:20:54 AM

i think if eth drops even more then the intereest will be higher for it with time, so at the end it would rise again and pull up BTC too.

The drop means a lot of people are dumping their ethereum. they are waiting for that coin worth cheap price in the future. But this time there was no a lot of growth in the daily trade volume of ethereum and bitcoin. that means there was no a lot of demand and the majority of people are still keeping their money into the fiat or tether form.

bobo012

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Quote from: Mr.frost on September 06, 2018, 06:36:19 AM

What impact would it bring to BTC as the demand for ETH to exchange the coins from bounties,airdrops and other programs is getting high?

It has negative impact on the bitcoin price too, i think so. It creates negative pressure because some dump first to bitcoin and then they exchange bitcoin to dollars thus dumping btc/usd price in the process.
Hope icos will run of eth soon so they can stop dumping.

teeshe

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Quote from: Mr.frost on September 06, 2018, 06:36:19 AM

What impact would it bring to BTC as the demand for ETH to exchange the coins from bounties,airdrops and other programs is getting high?

I am not really sure this would have a significant impact on BTC as many investors still believe BTC is the real coin that has a store of value in comparison to other coins.

richminded

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Quote from: aleksnutis on September 07, 2018, 06:18:02 AM

Quote from: Mr.frost on September 06, 2018, 06:36:19 AM

What impact would it bring to BTC as the demand for ETH to exchange the coins from bounties,airdrops and other programs is getting high?

If you look now at the market, then there is no change from the increased volume of trading in the etherium. The etherium is very volatile. From the etherium, many people expect not increase in trading volume, but an increase in scalability.

No impact on btc so far simply because this is happen since bounties started and if you look at the market now, there’s no high demand on ETH because its price is dumping. Even if there’s a lot of traders are busy monitoring ETH right now I still believe that there’s no big impact to btc for thia kind of activity.

cowardlyleo

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i think if eth drops even more then the intereest will be higher for it with time, so at the end it would rise again and pull up BTC too.

aleksnutis

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Quote from: Mr.frost on September 06, 2018, 06:36:19 AM

What impact would it bring to BTC as the demand for ETH to exchange the coins from bounties,airdrops and other programs is getting high?

If you look now at the market, then there is no change from the increased volume of trading in the etherium. The etherium is very volatile. From the etherium, many people expect not increase in trading volume, but an increase in scalability.

Red-Apple

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i don't think this is happening yet but if in the future it becomes a thing potentially it can prevent bitcoin price drops and we may not see as big drops in bitcoin since from that point when people start using ETH to dump their tokens bitcoin won't be affected by their dump. instead ETH will get dumped. and since it is already dumping the dump will crash it back down to $10

so far the pressure of that token dump is on bitcoin market but since bitcoin is strong it has been holding itself up for about 8 years of different altcoin dumps.

prdn

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I think the ethereum has lost too much trust and even vitalik is saying bad words about the ethereum. I think the ethereum will surely fall below 200 dollars, ETF will be rejected by the end of September, and ethereum will fall below 175 dollars.

Olatunjex

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Quote from: Mr.frost on September 06, 2018, 06:36:19 AM

What impact would it bring to BTC as the demand for ETH to exchange the coins from bounties,airdrops and other programs is getting high?

To best of my understanding ethereum isn't the only coin tokens from bounties and airdrop ate exchange to, big exchanges have trading pairs of btc & eth in most time before other pair. I don't see any impact this can have on bitcoin.

Casdinyard

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Quote from: Mr.frost on September 06, 2018, 06:36:19 AM

What impact would it bring to BTC as the demand for ETH to exchange the coins from bounties,airdrops and other programs is getting high?

If more people will be in side of bitcoin then it's more favorable and in return we will see some bounce in the market. I won't be surprise if this will happen since many are now losing trust to altcoins and preferably switching or diversifying more in bitcoin.

Likewise, many icos will surely extend their sale since eth is on downhill.

ND_INVEST

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Quote from: Mr.frost on September 06, 2018, 06:36:19 AM

What impact would it bring to BTC as the demand for ETH to exchange the coins from bounties,airdrops and other programs is getting high?

If people sell bitcoin for other coins, this will lead to btc losing its dominance on the market. It is a good thing, actually, because a heatlhy dominance is below 45%. It might also lead to its price falling, but I don't think that many people will engage in this activity anyway, so the price will probably stay the same. It's too low to fall even more anyway. Eth is crazily low right now, I don't even understand how such a price is possible. I do hope that new successful ICOs will finally try helping the market, not contribute to its already bad condition.

Indrawan77

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Theoretically it will weakened the bitcoin because the transaction volume of bitcoin is decreasing, but don't too worry about this condition because in the end many people will sell their eth for bitcoin, if all people are trading their bounties coin to eth there is probability that eth will grow stronger and able to replace bitcoin, but that's just theory in the real market there are so many other things that need to consider

Bellator

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The current situation right now in eth has gone so unpredictable and mostly who trades eth now demand for it due to lower eth value in marketplace. This has already happened last year, price breakdown has gone so cheap and suddenly after few days it went up higher and higher in parallel with bitcoin. Hopefully more demands will be coming soon for eth, in order for us to recover the current holding losses.

Mr.frost

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What impact would it bring to BTC as the demand for ETH to exchange the coins from bounties,airdrops and other programs is getting high?

Topic: Many are after to exchange ETH with their coins (Read 142 times)