Bitcoin Forum

Is it a correction?   ???

Where is the bottom?

Nope it isn't correction. It is systematic dumping of price.
Due to congestion on ETH network, deposit/withdrawal of ETH was restricted on almost all exchanges. Most of exchanges have now opened trades in/out but some are still not opening. Thus, it is directly hampering exchange and exchange rate of ETH.

ETH makes an awful currency, uncapped and unlimited creation is a big issue...otherwise most of the ICOers are dumping after the last crowdsale proved that ETH is vulnerable to node spoofing attacks.

It was a bubble. It went really high really fast. Ask who was buying it up to these highs. Big investors who know how to work the markets, they are dumping now to get their profit. Also with all these icos on eth chain it is causing so much bloat, no one can send ether right now. It is showing the weakness of eth. I could correct all the way back to where it was when it started this pump.

ask yourself why you want to buy into this scam in the first place, is it fomo(feel of missing out)?
or did you think the tech is irreplaceable?

to understand what is eth i probably can do some dd for you.
what is smart contracts? smart contracts is simply a hype butterin vitalik use to lure people into this platform, he copy idea from nick, https://en.wikipedia.org/wiki/Nick_Szabo
etherium and the whole scam platform is code by this person in a few months; http://gavwood.com

is ethereium platform worth something? yes, but in by book it is worth less than $10million if we talk about the old day hard earn money, minus the crypto wild wild west scam hype. the bugs, scalable, bloat and centralized issues this thing shouldn't worth more than $5million.

https://image.ibb.co/iWGd2k/ANNUAL2.png
$35 target

This table comes up so much, where is all the data sourced from?

With links:

NOW EXIST 92,000,000 COINS:
https://etherscan.io/chart/ethersupplygrowth
MINING WAS OPEN IN 2015:
https://etherscan.io/chart/hashrate
BUT IN THIS MOMENT WAS ALREADY EXIST 70,000,000 COINS = 14,000,000,000 $
SO FOUNDER HAVE 77% COINS
BITCOIN FOUNDER HAVE NOT MORE THAN 11% COINS
FOR Ethereum FOUNDER % BECOME 11% NEED 50 YEARS MORE
poloniex FULL STACK OF ETH/BTC AND ETH/USD - 32,400,000$
https://etherscan.io/chart/ethersupply
DAILY NEW COUNS - 30,000 ETH * 330$ = 9,900,000$ - IT WILL GROWUP WITH PRICE
https://blockchain.info/stats
1,650 BTC PER DAY - 5,840,127$

95% OF EARTH'S POPULATION CANNOT THINK BY YOURSELF AND DO SAME LIKE NEARHOODS

In my opinion ARK is a scam instead.

I think it is because of some trouble with Etherium network. Because of that some people lost interest/trust in Etherium and decided they would be better off selling it and switching into another coin. It might drop more, it might rise, who knows.

well, almost all alts are falling now. xrp and lisk are falling bigger than eth %-wise

ETH is long overdue for a correction/consolidation.  Going from ~$20 to ~$400 USD in 6 months is not sustainable.

But same thing had to happened to Bitcoin while back and it is still going though.

A few reasons:

#1

It looks like the Ethereum Foundation sold another 18 million worth a few days ago. With the nearly forty percent sell off of their holdings from this one known wallet so far this year it's not like they needed the cash. If the EF are selling off with these prices it demonstrates that even the developers have an expectation of a reduced price.

https://etherchain.org/account/0xde0b295669a9fd93d5f28d9ec85e40f4cb697bae#txsent

#2

Some of you might want to read this. It explains the current state of ETH well.

https://medium.com/@WhalePanda/i-was-wrong-about-ethereum-804c9a906d36

#3

Ethereum the platform is interesting and might have uses for business on private chains. In fact most news articles about Ethereum involving business and banks are on private chains not the public one called ETH. Investors are starting to understand that when they buy ETH it's not an investment in the platform.  

ETH the token unfortunately as promoted is a bit of a scam. Anybody who thinks that the "world super computer" that runs thousands of time slower than the processor on my cell phone is capable of simultaneously operating for 1000s of DAPPs, being a currency and running smart contracts for banks lacks knowledge of computers and networking. Even a couple of recent ICOs completely slowed down the network and that's without a single popular DAPP in existence. Imagine how poorly it would run if several DAPPS became popular. These popular DAPPS would need to abandon the public chain to stay in business.

ETH the coin is not capable of what's advertised and that's a problem.

This is good info.  I am hoping that the price drop is mostly caused by your reason #1 and not the other two.

Hard to say. I think reason number three is the reason it should drop substantially, if investors are actually looking at reality/facts; but, that isn't always the case.

If you look at the history of BTC in 2013 it hit 1000.00 after that we had a bear market for 1.5 years or more and BTC went down to 220.00

Expect the same for any coin that pumped like mad in this years "Crypto Spring"

all of them .. even BTC.

Markets move up and down all the time. It's definitely a gud time to buy some cheap ETH.

Isn't Ethereum implemented the "Lighting Network" technology that can process a lot of transactions in second?



I agree, but I wish I have money now.  :(

Even this scam can implement "Lighting Network" the network still fuvkup, they want to put all the craps into one. This scam is done. I have said again and again this thing going to happen soon even little 5 year old girl can see it from mile away.

Prices can only rise, when fresh money is coming in.

But this aggressive constant talk here about SCAM, CRASH, BUBBLE and a look at the instant charts keeps this fresh money away.

And if there is no use for ETH, where is a use for BTC? You can't use both of them.
Get your salary in BTC?
Funny, when BTC drops before you've entered the bakery to buy some bread...

The price of ETH is speculation, like the price of every coin - included BTC.
And speculation is an expression of hope and feeling. Less knowledge.
Look at all the talk here.
What are your feelings, what are your hopes after that... ?
;)

Thats exactly the point. Bitcoin fell from $2900 to $2300 and now the price was is going up again. So this isn't smth new if ethers are falling

This pyramid scam eth is done. People now realized it network is just crap.

No they are not implementing the Lightning Network. Some folks have kinda "borrowed" that term from Bitcoin because there are examples of the Lightning Network being successful so they want to associate with that.

If you want to read about what Ethereum is attempting go here:

https://github.com/ethereum/wiki/wiki/Sharding-FAQ

After reading you might want to ask yourself if successful will the "world super computer" that runs thousands of time slower than the processor on my cell phone is capable of simultaneously operating for 1000s of DAPPs, being a currency actually work (nope it still will be to slow). Remember likely when you bought into ETH you were already mislead into thinking it worked now. I repeated a statement from point three; but, for a reason. Basically, they want to divide the network into smaller and smaller subgroups to deal with those 1000s of DAPPs, currency transactions and smart contracts. This is a security nightmare. Not to mention when they go to POS a substantial drop in nodes will occur decreasing capacity. The level of complexity would be hard to pull off on a localized network, much more so on a global network.

I understand you're invested and want to see ETH succeed. It just seems that promises get made, the promises are getting bigger, more complicated and as they do so success seems less likely. That said I hope you do well in your investments.

https://ethereumprice.org/ (https://ethereumprice.org/) shows todays low at $140

Ethereum price have been highly driven by all the high volume ICOs over the last months. Today most ICOs create tokens on the Ethereum blockchain which drives the demand for Ether and increases the price. There are exaggerations. You can see it on the Bancor ICO at best. $150 million seeding capital in only a few hours for an idea and tech which is not mature (http://hackingdistributed.com/2017/06/19/bancor-is-flawed/).

Thank you for your info and the link.  I am going to read it.  I thought Lightning Network would solve the scaling and the congestion issue?

I, too, saw that drop to $13, and I took the opportunity and bought them at $13 with all my life saving.  LOL!
Just found out from the news that, the reason for the price drop was because the Ethereum blockchain got overbearing and many of the transactions cannot be processed.  Obviously, the demand is there.  I am hoping that they can fix their scaling issue really soon!
 

I was refreshing Blockfolio and Ether was showing in Coinbase @ $1 for a few seconds  ;D

I had actually dumped almost all of mine about a week ago except the ones I have stuck at Coinbase and tried to go buy and by the time I got through it had jumped to $270.  I decided to wait to see how this plays out and in an hour buying and selling was non-functional.  It looks like this helped the prices at the other exchanges though since people in Coinbase haven't been able to sell.  Now looks like people are pulling out of Bitcoin to buy what they think is cheap Ether.  This crypto world is bizarre

People are panicking after the initial coin offerings slowed down the network to a snails pace. I think its only temporary because ethereum has shown itself to be resilient like bitcoin.

"SO FOUNDER HAVE 77% COINS"

Except they don't it was ICO and people exchanged btc for eth.

Do people think they just donated their money for nothing in return?

Yeah that was a long time ago, you can even check the richest wallets now and it has a similar distribution as bitcoin already.

It mean nothing.
Split big wallet easy and free.

Shortcuts on quality control takes its toll
https://i.imgur.com/es3Mtjf.png

Dropping price is just a normal things to any coins in this industry, whether eth, xem, or other altcoins.
It maybe one of there systematic way to get more attention for the investors.

Volatility is the unfortunate reality of crypto and no coin is free from it. There are legitimate concerns though about ethereum's ability to handle a large number of transactions.

Congestion on eth network. But now I think it is normal. That's the time you buy eth. The price is 0.12 now, the last top price 0.139-0.143. When you buy now at 0.12 you will make profit few days later. If eth fall, I think most tokens will fall to. The developer of eth will not keep silent facing the congestion.

I think people got panic for not being able to execute their transactions before knowing that it was due to over demand. 

I got what you are saying about 0.1xx, but could you please convert your numbers to USD next time?  I think most people in here are using the BTC/USD conversion.

I have been buying them at a price range of $175 to $395 but probably still little on the positive side based on the price at this moment.  How about you?

... bcz smart contraptions are jammed.

i think the price will rise soon cause of the release of metropolis in july.

The begging of this video has a very interesting analysis of the ethereum chart https://www.youtube.com/watch?v=HVkmeD3kvbo

As I write this it is live so wait till it's done. If you're not watching coinygy videos you're missing out.

Metropolis right around the corner  ;D

Just want to update this even though the news is a little behind.

https://blog.gdax.com/eth-usd-trading-update-5d8142b5bdc1

The flash crash only happened in GDAX (owned by Coinbase).  The price dropped to as low as 10 cents and then came back up.  The drop was mainly caused by a $30 millions sell order.  There were not enough buy orders to accommodate that huge order so the price went down to an unreasonable level.

Many people lost money, but some who had purchased ETH at low price were making handsome profits.

Two lessons for us: 
1. Do not use Stop Loss order.  Because of the quick price drop, many stop orders were executed at very low price (like US$0.10).
2. Do not sell huge amount of coins all at once.

Less to coins exchanges:
1. Need to implement circuit breakers to avoid such crash to happen in the future. 

people sold ETH when is pricing after 300 dolars.

It doesn't really make sense on Ethereum. Think about it: Bitcoin does transactions only. You can take some bitcoins into a temporary wallet, then do small transactions on another layer, and the aggregate can be committed to a block. All is fine.
Ethereum does mostly computation (that was their selling point at least). You can't just do some of the computation on the side - that defeats the purpose and means other apps can't rely on the state of the chain.

Vitalik promised Sharting - I dunno how it's supposed to work... but it's probably a year away still. Way behind schedule.

I see this dropping a lot still. Then again, I've been mostly wrong about Ether price speculations.

Simply this may be the reason for ETH going down. This is like the mental price barrier for bitcoin ($3000). When casual inventors, specially those who bought it at a lower price, seeing that they have profit enough at $300, will just cash it out and enjoy the profit. I think it can drop significantly, but seeing ICO's popping everyday, then ETH will be pump again in the next coming weeks.

The crash only happened at GDAX.  Other exchanges only recorded a low of $275 from what I heard. 

The number of ICOs is incredible - like one per day.  Now Vitalik and the team have to work harder to get the scaling issue settled.

Because it is overvalued, and now people starting to realize what is all about, and how this can be very bad if dump happens, i'm not sure how whales slowing down this event, but it is obvious peak is here. People become blind from greed, and tend not to listen main rule, don't fall in love. Like in gambling, exit while you are still a winner.

Well it could be better be overvalued. Maybe others are going out as of early because they want to be trap and can't exit in time. I think it has already touch ed its peak at $400 and now the price is slowly going down. But still, if ICO's is popping everyday, then we may see some correction price along the way. I see it along the $250-$300.

All the ETH hype is made up of ICO's, and we are in an ICO bubble. I see a major dumping happening in days. Thins don't look so bright for ETH. Moreover its already pumped so much. Also image the amount of ETH various ICO's have with them. Ever wondered what will happen when they start dumping it? If I had any ETH, i would be shorting it now.

Maybe for a moment ETH draw with BTC,
But at the time of his rise no one can withstand against ETH,
Because ETH is one of BTC's heavy competitors with its successful launch.
www.myetherwallet.com] (http://[/url)www.myetherwallet.com[/url]
A javascript-based open source client-side tool for creating Ethereum wallets and transactions.

Ethereum was so eager to be the first smart contract team that they rushed the platform and the flaws, lack of security and bugs are all now being exposed. In my honest opinion there are several better platforms then Ethereum such as Waves and Antshares (Neo).

People are starting to look around at other options to raise ICO's and Ethereum no longer have the monopoly and based on that fact, the price of Ethereum will never reach its previous heights again.

Thats my personal opinion anyways

Its obviously going to go down. It hasn't peaked near its earlier highs for days now.
Try to ride the wave as it comes in, sell high buy low. The volleys are super predictable.

I dont know the main reason. But every coin experienced dumping price its a normal. But for sureit will back again at 350 dollars each ethereum. Ethereum is the next bitcoin I believe and for sure in the next month possible price will be $500 and it will increasing slowly. Time to buy ethereum now because after few months you will earn a lot of money .

Can we come back to this in 6 months to a year and see if you still believe in Ethereum, I get the feeling that Vitalik doesnt even believe in it as much as he once did

Everybody ready for the price to dip below 300 again tonight!!??

It's going to happen again triggering everyones panic as the price moves through that 300 emotional barrier.

Im thinking its going to dip down to 280 tonight, jumping back up to 310 in the next few days.
This emotional numbers game of pong is hilarious. Im riding the wave the entire way down.
Get your lowball buy orders on garbage exchanges set, the next few days are going to be bumpy.

Yes MIT (Masachusets Institue of Technology) which are working for Bitcoin Netwrok -  "Lighting Network". Is working for the same analog but only for Ethereum Network and called Raiden Network.


MIT members also developing Zcash which also will be implemented in Raiden Network with atomic swap.

Zcash is absolutely confident payment method.

So "Lightning Network" is not going to happen? 

By the way, a fake news about the founder's death was released and caused the price to drop to 10% immediately at the time.  That drop induced the price worsening of the cryptos that already happened.