Bitcoin Forum

Back in last year, I was impressed by how an 'innovative' project like ethereum drew so much attention, aiming at
 expanding cryptocurrency possibilities. They called it web 3.0, they called it cpryptocurrency 2.0, the called it the future.
Several months later, back in last summer the ether IPO started. I was not experienced in any IPO, so I was skeptical
of investing even the minimum of 0.01 BTC. The solution was to see what other people were thinking about the IPO.
I was convinced not to invest.People said that a lot of times money have been lost in IPOs and pre-mined coins.

I still consider ethereum a great idea, and I am happy that cryptocurrencies evolve.
However the IPO has nothing to do with the project's innovative nature!
On top of that, it appears to me that ethereum could barely be called decentralised; The devs
have a lot of power over the network! In comparison to bitcoin, the only thing a bitcoin dev
can do to harm bitcoin except from abandoning the project, is to issue a false aka fake alert using the alert key (https://en.bitcoin.it/wiki/Alerts)!
Also, even if the project fails, the devs will be rich! Remember the IPO?
Also ether is official stated as 'crypto fuel' and not money. This will make it easier to evade any future accusation


What do you think? Am I right?
Should I feel bad I didn't invest?

What's interesting is that I think there's some sort of difficulty "bomb" built into the POW algorithm, so that in about a year the difficulty skyrockets forcing POS or I guess POW fork. So, if for some reason the devs abandon the project (say there was some legal issue a la ripple) well, who knows what would happen.

You obviously missed an opportunity for a nice profit.


Ethereum going to be something very close to a corporate system. Probably some sort of sandbox for some real corporate systems. Banks and banking application developers will surely like its technology, IBM also planning to pick up at least a part of the code for making blockchain based smart connections between devices and other entities, so I think Ethereum will be a great development platform, just like the opensource Xen for Citrix.
As a coin... I'm pretty sure it will survive, but probably will experience the same controversy as NXT or Ripple.

I believe it will go far, definitely will buy when it is low prices.

I've never been about trading or speculating.  I'm a hodler.  I hodl Bitcoin and if Bitcoin didn't exist I would probably hodl gold or platinum.  I will hodl ether and never sell.  I think 90% of Presale coin holders are like me. Never sell.  I didn't buy ether because I wanted to dump on the IPO. I bought it because I trust vitalik. He is too autistic to scam anyone. 

Once the first gui that has been security audited comes out and the first DAPPS start running, there will be a market demand for ether because these DAPPS like decentralised Uber and decentralised airbnb will outcompete the centralised versions.

The reason they kept a lot of ether was to fund dapp development and to donate to dapp developers.

I think a large amount might be given away by the foundation to dapp developers which would mean a low market value for a while. 

A year is a long time in crypto, I think Ethereum will look much healthier by then.

it's not worth it, there are already some thing like Etherium, they are more worth to invest.
                                                                                           

Like what? 

The thing is, etherium isn't ment to be used as a currency, but to only fuel the platform. Smart contracts etc. People assume that it is a scam, but in my eyes they have been very much open about what it is going to be. As for the price drop, anyone who has been in the crypto scene knows that every coin that is released will have a huge price drop, specially in coins that has an initial investment in it.

I am very much happy i invested in etherium, i made monster profits and profited on the fact that i knew that most people who invested in the coin wouldn't be able to sell at the start since they wouldn't know how to use the command line wallet. I sold my investment early since i know when the windows wallet comes most will be dumping their ethers then. I believe that Etherium can be a huge part of our economy, not necessarily as a coin but as a platform for innovation, it shouldn't be taken lightly.

As for investing in the etherium-coins, i will wait untill the windows wallet gui has been made and the rest of the people have dumped their possible investment.

Congratulations on dumping. When do you plan to buy back in?   Don't you think people that wanted to dump couldn't already use the sweeper tool on kraken?  I don't think windowsGUI will cause more dumping.  I think it will cause more buying.   

If you look at the chart the price of 0.0026 looks like a pretty stable floor. I think the dumping is finished already.

There needs to be a Silk Road DApp & DAO on Ethereum.

Shut up shrill.

Why not just call the NSA up and tell them the location of your meth lab?

- getgems.org

I think we all know who's the shill.

Well, i will be following the markets closely as etherium has a more than a good chance of getting a much higher marketcap but i will wait for the initial excitement of people to wither down a bit before considering it. I do not think most people have dumped as the command line wallet is very hard to use for people who are not tech-savvy, theres a lot of buy resistance but it will steadily go down despite of it. I can be wrong but highly doubt it as i am rarely wrong in this sort of things in my own experience.

 I have no idea about kraken as i traded at poloniex, we had a 24h waiting period before trading was allowed (Etherium staff asked exchanges to wait). What windowsgui will do is give access to those wallets that people haven't yet been able to access to, only logically i think they will sell if the price is still higher than from when they bought their coins a year ago. After that i believe the price will start settling to a norm.

This is only my opinion but i always value it highly, might be biased though  8)

Edit: kraken volume is so low, most people wont be able to dump there.

nxt is grammar school  :D
couldnt help the joke, sorry

The price will constantly drop as people keeps unloading this coin to take profit from the ICO.
It will take some time for the price to stabilise before it is worth to buy.

Prices keeps getting lower and lower. I think it's time for me to buy some ethers. They're very cheap. Who knows? Maybe I'll get rich soon....lol  ;D

My thoughts exactly, they have waited so long since the ICO took place that many will just dump to get their money back, it will be some time before we see a stable price.

Looks to me like the market has bottomed out. People over use the word "dump",  only once you get close to ICO prices are people "dumping". Most who transferred coins to the exchange were looking to profit 10X ICO, not the less than 2.5X it's currently sitting at, and only because there was an obvious opportunity to buy back in cheaper. Over 2.5 mil ETH has already been traded, on the 3 sole exchanges that are offering it and still has been almost no USD market or Chinese market tapped yet.  Also the buy orders are building now compared to sell orders and ETH flowing to the exchanges has slowed right down.

What would be the wise decision? Buy more ETH while the price is low, or just wait? Just curious  ::)

How do you come to the conclusion that the price is low?

Well, shouldn't price be at around $2 - $3 like it was before. Right now it is at $0.67 I think that's cheap  ::)

A lot are predicting it makes it back to $3+ range at least by end of year, I think that is a fair bet. It certainly holds far more potential than litecoin and ripple, who its chasing up the market cap ladder.

Finally! A well reasoned and articulate argument, well done.

The real opportunity is not in the price, but in the application of smart contracts to business applications.

These Ponzi schemes (such as: https://github.com/howardpmarks/solidity) doing the rounds on Reddit are not helping its image one bit.

Price is not low now... It is still 5x the IPO price in bitcoins (2.5x in USD) while there has been 12+ million (dev fund and mining) extra released.. Just wait till the people that have currently no access to their coins come to grab their 5x profit..

There is no point in dumping at these low prices especially when the upside could be $11 - $20 by the time the alpha release happens. 

Anyone who was going to dump already has, on kraken this past week.  It's not hard to access your coins there is a Easy wallet sweeper tool directly on kraken.

In the next 3 months, a gui wallet will be released along with the first properly finished DAPPS, chinese exchange will open and then we'll see what will happen to ETH

I believe it's more like that many guys haven't found out how to dump their ico shares 'til now. I expect the dump to continue for a few more weeks. And a price of $11-$20 is a wet dream only the dumbest of the dumb can have.

We'll see, we're still a few months from a gui and the first dapps. Then there is homestead release, then metropolis release and then serenity release, at each of these stages there will be bumps in the price as the network grows and becomes more active. By then $11 could look like pocket change.  It's the only thing on the market that has a chance of overtaking Bitcoin in market cap.  Ripple is dead and so is LTC. Do you really want to take that bet against ethereum? Be my guest lol

pump is going strong right now.

Seller market has been absorbed now and price will be on its way back up while new buyer markets are opened. Still only being traded on 3 exchanges and USD/EUR action has only just started hitting since weekend banking delays. Waiting on a China exchange too, yupni was meant to launch but seems to be held up. Surprising more aren't on board yet, seeing as how exchanges taking advantage are doing very well with huge inflated volume and users compared to normal. Don't expect them to take too long about it.

Hasn't even begun M8
Now People who sold at the bottom will be piling back in.

Don't panic! There's plenty of ethereum for everyone...or is there?

Thanks you guys, you made me feel better.
I will wait some time to buy at the cheap IPO initial price.

Someone who actually gets it...

You guys talking about pumping and the "moon" have a lot to learn.  People have been holding this shitcoin for a year just waiting to get out.  As soon as Joe Trader can actually figure out how to move his coins the real dumping will begin.

Think about it, right now the smart people who can figure out this ether bullshit are the ones dumping.  What's going to happen when all the morons like yourselves finally figure it out?

1. 99% of people invested in the crowdsale were already bitcoiners
2. If you want to dump, kraken provides a sweeper tool it's easy to use.
3. 90% of the people invested in the crowdsale did it because they really believe in the project and will not sell at ANY price!

Good luck wishing the price down!  It will be number 2 market cap by the end of the week.

Would you like to place a wager on that?  Put your money where your mouth is.

My money is in ethereum already you spastic. My money couldn't be anymore where my mouth is without literally eating my money. 

To anyone that may be holding for lower than ICO price, you are going to be waiting till the sun explodes. Good luck in life.

You're one of those trolls that most people ignore because they spout off stupid shit and have absolutely nothing to back it up.

You're a pussy, plain and simple.  If you weren't you'd take the bet since you're so sure of yourself.   :-*

I'm not interested in entangling myself any further with you by taking part in some facile betting game.  It would be nothing but a waste of my time.

Well, if you're so confident that "something" would be some BTC.  But it sounds to me like you're a pussy and have no faith to back up your shit talk.

What's next?

1-6 months: Ethereum enjoys its rightful spotlight, lots of lower lows and lots of higher highs (maybe to both, hurray trading), a few extra releases, bug fixes - and dangerous bugs leading to losses, maybe even a GUI wallet. Lots of world-travelling, grand speeches of decentralizing the world and much slapping on backs. Ethereum continues to be marketed as the 'future of finance'.

6-12 months: A disagreement or two over direction or development, a number of Ethereum employees ramp up their 'contractual' and 'non-official' development and advisory aids to private and public forks, a number under NDA that we never hear about. A group of increasingly vocal 'heads' worry more about Ethereum not being able to compete and meet regulatory and banking requirements (cue Ripple) and the drastic changes that will have to come about in order to appease the real financial system. This is exacerbated by the platform being riddled with pyramid schemes and illegal gambling, tarnishing its image. Ethereum continues to be marketed as the 'future of finance'.

12-18 months: Interest in Ethereum is waning, despite a number of great releases, new GUI wallet. Consistent news of Ethereum forks, distributed ledgers and private blockchains (the ones Vitalik is currently buttering you up for) is worrying investors. Many people are concerned that the volume does not match the 4000-6000+ BTC/day of it's prime-time days. The ask the question, 'is Ethereum the future of finance?'. The team seem to be quieter, questions about money and how it was spent. Are there growing conflicts of interest? Perhaps Ethereum gets lucky and gains further funding from 'investors' (hopefully not for an 'undisclosed amount of *new* ETH to be released to new 'shareholders'). Ethereum continues to be marketed as the 'future of finance'.

18-24 months: Fiat burnt through like a hot knife through Butter, future funding is looking bleak. Despite a great platform there are 100+ ETH forks with newer and shinier 'features', offering greater pumps and greater profit potential, and the cryptocurrency world is hearing too much news about new shiny competitors released by private and financial institutions. Not a single ETH sits in the hands of the original institutional investors or company itself. One by one the employees have given a polite and gracious exit speech to continue their passion for development elsewhere - 'my time here was wonderful, Ethereum has a great future and we learnt a lot. We have driven success and innovation. YOU made Ethereum what it is but it is time for me to move on, etc. etc.'. They are hired by private and public competitors to work on new platforms (of which they have privately advised on for the past 12 months). These competitors, 'Open', 'Lightning', 'Medici', etc. etc. are marketed as the 'future of finance', and the cycle repeats itself.

24+ months: ?

Too cynical? Happy to eat my words if this does not come about. Wouldn't take much to halve that time-frame either.

I think Ethereum has much greater potential than Bitcoin in terms of sheer utility and market capitalization. With this disproportionate reward comes extraordinary risk.
Ethereum tries to solves a larger set of problems than Bitcoin and hence has greater utility. Ethereum is a platform and ether is the currency based on this platform. Since Ethereum is a platform, new applications and currencies can be built on top of it. New currencies can be built on Bitcoin as well, but ethereum was built with the intent of being an almost like an operating system of sorts.
Before starting to invest in any cryptocurrency read and study about cryptocurrencies. In any case, do not invest more than you are willing to lose.

If you are interested in buying ETH you can visit www.CoinSwitch .co (https://coinswitch.co/coins/bitcoin/bitcoin-to-ethereum)