Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 17078. (Read 26585956 times)

Ethereum, brought to you by the incompetence of Bitcoin Core!

 looks like its dropping a tad. must be because i just bought...never fails..

They think they're buying the "next bitcoin" and as long as it's below BTC's marketcap then it's a buy.

i don't think they know or care. they're buying a chunk of the future that might pay off. if they find a greater fool who values that chunk higher at the right price then they'll sell and run.

Then what do these traders think that they are buying, and what greater fool are they going to sell to in the future?

Last time I checked, Ethereum wasn't a company, and ETH isn't a stock. They have no CEO and make no profit. And the tech is free, open source, and easily copied.

i think ethereum's creators themselves would be the first to say that it's not money.

what people are getting worked up about is the present pool of speculator and trader money being allocated to different things. this isn't a cryptocurrency bubble, it's now a crypto technology bubble.  

if there's more profit to be made elsewhere then they're agnostic enough to look elsewhere. most people are only in this for the dollars. they don't care about the future beyond the next five minutes.

if bitcoin has what it takes then none of this matters in the short term. new generations will appreciate what it truly means. there's a lot of theology to untangle and we haven't even started yet.

Completely, and totally disagree. For the world to have a universally accepted form of money that crosses borders, it would need to ideally consolidate on one. The world will never universally accept 1000 different forms of payment (money) as all being equally valuable. If all special snowflakes are special, then none of them are universally special.

Whether that's true or not, it doesn't change a few things which make ETH a very risky investment when it gets expensive.

 • For a start, ETH is basically a technology asset, not a monetary one which gives it a much shorter time to obsolescence than bitcoin.

 • Secondly, it suffers from the "airgap" problem which Bitcoin doesn't. That is to say, there's a financial airgap between the base token and the equity that's being built on top of it.

 • Thirdly, it's already forked. So that kind of kills it anyway as far as any kind of long term store of value is concerned.

 • Fourthly, it's bug ridden. As I say, that's not so bad for a technology asset as long as it can successfully support the meta tokens that represent the business models it carried.

 • Fifthly, buying the ETH token itself (as opposed to say Golem, wetrust or Aragon meta tokens) you're effectively buying a chunk of a profit and loss account rather than a balance sheet. Not many people realise that, hence the FOMO, and they may never realise it. But the implication is that you're investing in the reproducible part that depends on monetary velocity as opposed to the unique part that is the equity layer. Hence its value is at the mercy of the same forces that drive GDP in a regular economy. i.e. the exact OPPOSITE of a safe haven store of value.

 • Sixthly, we are currently at "Peak Ethereum". It's about to get buried of a tsunami of competing smart contract blockchains, many of which are more advanced technologically having observed the issues Ethereum encountered. With monetary assets, being an original to market is an advantage. With technology assets it's the other way around - everyone that comes after you has the edge.

Should be enough for starters

the king is dead

long live the king 

some movement finally
edit. lets see if 2100 holds

We need to step up our wall observations, all our posts are being deleted. We're all going to die.

How is btc decentralized if it only takes one person to change something?

i thought this was bitcoin wall observer thread ... hmmmm...i musta hit the wrong ethereum wrong button....

Something something Fibonacci?

that's the one.

define "top"

to top the marketcap of BTC seems highly likely at the moment

cruising past 0.1 now. does it have the legs to go all the way to the top? that would be quite something and maybe not surprising.

I do agree with most is said in that OKcoin post. The scaling debate must end soon and it should happen in a non contentious way.

But, what can ETH do that I cannot do with my (way cheaper) ETC?

and do you not think it was intended to make you feel that way?

etheruem is currently in the told you so phase. there'll come a time when that pendulum swings back.

and whatever happens bitcoiners should let go of the idea of bitcoin being it.

it's a big old world with more ideas and agendas than we can guess at.