Pride comes before a fall and that remark forms an apt beacon that beckons its owner straight down a very deep crevice.

The reason Bitcoin took 18 months to get their is because the growth is real.
The reason Ethereum took 1-3 months is because the growth is concocted

....essentially from a toxic cocktail of bogus ICOs - based on no more that a whitepaper in many cases - plus the empty myth that Ethereum is about to replace Bitcoin as the defacto store of value for the cryptocurrency sphere.

But for it to do that it would had to have been born on the 9th of January 2009, derive its value purely from monetary storage as opposed to equity transport, preferably manifest as one head not two, and not be on the verge of technological obsolescence

(P.S. We all had our 1-3 month x10 gains a few years back, it's just that you're a bit late to the party)

Another time-bomb that Ethereum has:

https://www.youtube.com/watch?v=XNGzhWODF2s&t=1146

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

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

Although I'm doing ok on it, how anyone can suggest buying at this price is beyond me. 33 thousand USD for a measly 150 ETH ? Are you kidding ?

Bug ridden. Forked. Soon to be obsolete & drowned in more advanced competition. Airgapped.

Some burnt hands on the way IMHO.

I would say ETC for sure due to:

 • having far more upside since ETH is at an ATH and traded on tiny volume now compared to the coin supply
 • ETC continuing with POW which will mean a tsunami of hashpower migration ETH -->ETC and money will follow hashpower
 • we are approaching the end of the period where ETH is a dominant player in the smart contract field. They are about to pop up like mushrooms after a rainshower, e.g. Tezos arriving
 • ETC has historical immutability going for it which ETH does not

"Peer to Peer lending platforms" will provide a boost to growth = Mr Draghi is saying TRST is heading to the moon.

Draghi's talk is looping back.

Just reaching the bit where he talks about "fintech & blockchains" now:

http://www.zerohedge.com/news/2017-05-29/watch-live-draghi-speaks-euro-parliament-makes-case-more-easing

EDIT: Too late. It's done, loop back in another 3 hours.

I think he's alluding to the type of blockchain that lets bank do settlements. But those type of blockchains are better hosted on an SQL server.

Apologies. You were right - the first one was a 3 Day.

Now fixed, but still only 5 greens.

****** Amber Alert ******

Draghi is live right now talking about the implication of "decentralised ledgers" and the "blockchain" on the Euro Central bank's role as central issuer for the Euro.

Talking about 'fragmentation of the payments system' that 'may affect the efficiency of transmission mechanisms of monetary policy'. He's trying to make it sound constructive saying 'fintech' can assist the role of the credit markets in expanding the economy.

http://www.zerohedge.com/news/2017-05-29/watch-live-draghi-speaks-euro-parliament-makes-case-more-easing

Lots of ominous sounding inuendo, not planting his flag on one side or another. "Appropriate regulatory responses" required to mitigate risks to customers.

According to the menu it's the 1Week. The 3 day one looks like this:

Cryptowatch.

https://cryptowat.ch/bitstamp/btcusd

(Switch to 1W in the little pop-down menu at left end of top toolbar). They probably just have different reference days for the start of the week, so shows you it's really arbitrary whether we have 7 green candles or not.

What about what Risto was saying that we need a red candle this week for the market to stay healthy ?


But it looks to me like we've only had 4 green weekly candles in a row - strictly speaking - but maybe he's dismissing the April 13th one as not significant enough.

Textbook propellor correction visible on the Bitcoin 1-Day and 3-Day charts.

Overheat fan activated to cool things down for a bit.

Perfection.

See earlier in the thread for full commentary on propellor fan-corrections:

Here and Here.

Bitcoin (and the top monetary cryptos) is a "buy and forget" safe investment. Ethereum is not however "buy and forget" due the the 'airgap' problem.

In bitcoin, the value and token are integrated into a single holding. In Ethereum there is an 'airgap' separating the value and token. For example, if you buy the Ethereum token, you're not investing in Golum - you need to invest in a Golum token for that. If you buy an Aragon token you're not investing in wetrust - you need to invest in a wetrust token for that.

Further, the more Ethereum gains in value, the more attractive competing smart contract platforms become and they are starting to sprout up like mushrooms after a rainshower.

Therefore, investing in Ethereum is like investing in electronic typewriters in the 1960's. They're great until something better comes along. Whereas investing in the monetary assets is like investing in gold in the 1960's. Gains value slower but forever.

What are the monetary assets ?

 • Bitcoin
 • Litecoin
 • Dash
 • XMR
 • PPC
 • Dogue
 • UNO

etc.

wtf are you talking about ?

This is nothing. The retrace is about right and essential to growth. If you want to avoid another 3 year bear market then this is exactly what's needed after a run-up like that. It was only christmas that we went past $1k. We're currently at 100% gain since then.

Maybe start worrying if it goes all the way back to $500.

Amazing. Think of all the stuff you could do if you only had to "try"...



Also, good to know that the guns 'n blow' industry actually turn out to be the standard bearers for high monetary ethics in this asset class. Here was me thinking it was simply that Dash core hadn't done a deal with them whereas "XMR core" had, but of course it's 'the instamine' again.

Glad to have been put right on that one