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If Ether dies, money will move back into bitcoin. Bitcoin and Ether have a mirror relationship in that when one is rising the other falls.
As to which alt will replace eth if it does - oldies like Litecoin and doge will have a chance, after all they've been tried and tested and are still here.
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I personally think that part of the reason for btc surging is that ether is falling. The Ether network is "congested", in other words they have full blocks too, and thei 24 hour transactions are not much different from bitcoin's. This means they arn't the coin that will replace btc because they can't handle volume - hence eth is selling off and btc is gaining.
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According to the following chart, ETH did 226,786 transactions in the last 24 hours. That is lower than bitcoin's 276,636 https://bitinfocharts.com/comparison/ethereum-transactions.htmlIt is NOT good news for Ether if they're getting congested at the same level when bitcoin did. It means they can't scale either, so the search goes on for a coin that can handle volume. |
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Ethereum network is "congested", and etherscan doesn't show updated data. Others exchanges disabled ETH withdraws too(for example, Bittrex). There is no sign that they have been hacked, or they would probably disable Bitcoin and Litecoin withdraws too.
Worst case scenario this is a major bug in ETH network and ETH will die, and Coinbase won't be affected.
That's not a good sign - are they having the same problem as bitcoin is with backlogs? |
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 Hi Sergey, Sorry for the delay, your account has been unfrozen. Best regards, Kevin Poloniex Support СПАСИБО!!! Dear god i'm panicking! My withdrawals are not going through! Then i go on bitcointalk and to my horror read more cases of withdrawals not coming through for 30+ days. Please help! I also cannot raise a ticket since I also cannot access the support page  Can you help me? I'll pm you my case You need to go to reddit and send a private message to Mike-Poloniex (whose link is above). There is no point posting about Poloniex problems on bitcointalk because Poloniex employees do not monitor this site. They only monitor reddit. |
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Just a warning - the market will move at least two weeks BEFORE the August 1st fork. The whales don't leave things to the last minute, so try to take action before they do.
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Here is OP's image:  And yes, it does look like a head and shoulders pattern - that means a drop down to about $1400? |
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https://www.rt.com/business/393179-russia-bitcoin-mining-video-card/An ordinary Russian consumer may face difficulty buying a video card for his home PC, Vedomosti newspaper reports. The recent surge in the value of bitcoin has caused a jump in demand for video cards, which are used in cryptocurrency mining.
People buy up to 600 video cards at once, sources in the industry told the media, causing a nearly 80 percent price surge since the spring.
Over the past two months, video card shipments have tripled, said IT-distributor Treolan. Market demand exceeds supply, it added.
Russia has about 5-7 percent of the mining sources, mining business owner Dmitry Marinichev told Vedomosti. Russia is still under sanctions from the west, which means they can't easily import graphics cards.
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Similar to what happened to Litecoin on Coinbase pump, Litecoin on Bitstamp caused a similar pump, but this time with way higher volume and with a way smaller dump, at least until now, from 0.01952 to around 0.018.
Let's see if the volume remains high, signaling the break of the ATH for good and more jumps in price.
There will be some profit taking and the speculative money will then rotate into another coin... One thing that IS interesting is that transactions in the last 24 hours have picked up: https://bitinfocharts.com/comparison/litecoin-transactions.htmlIt's still very low compared to bitcoin, but it indicates that some people are now using litecoin rather than bitcoin to move money (because of bitcoin fees and delays). |
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I sold about 10% of my stash. I'm not sure whether the bubble has burst or not, but I decided I'll take some profit (bought at sub $100). We might see $5000 or $10000 in the next few days, but I'm pretty sure the price will go down to $1500 (or even lower) at some point in the next few months or next year, and that's when I'll buy more. If that doesn't happen then it's fine, I'll invest in something else.
What do you think of my decision?
I think you have done the right thing. Nobody ever got poor from taking profits! P.S. Congrats at buying at sub $100 - you've made a splendid return on your money! |
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I wish vendors would accept doge, as it is perfect for small transactions. Doge can by used as an actual currency while bitcoin can be held as an asset and store of wealth.
The trouble is, they simple won't enable alts on their platforms.
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Remember that you can lend your bitcoins on poloniex. You can earn up to 0.1% a day, which is actually a very good rate, especially if you reinvest your earnings.
poloniex is the safest way to lend because they act as a middle man (they forcibly close the borrower's trade if they arn't putting in enough margin).
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Poloniex is the cheapest - 10,000 satoshis.
BUT - it seems to be old established accounts that have automatic withdrawals. New accounts need manual approval and they have a backlog because their exchange suddenly got popular.
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MtGox was based in Japan, and Karpeles was French. Nothing to do with the USA! |
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FYI
I was just having a look at the 4hr btc chart on bitcoinwisdom and noticed what could be a head and shoulders pattern forming. We would currently be on the right shoulder.
I fucking hope that it is not, as I want to see this baby continue its rise, however, with the massive rise we have had I think it is possible. If a text book head and shoulders does happen that would put the price back to around the 1300, seems unlikely.
If this is a "head and shoulders" pattern and "the head" is 2600+ USD price, why would we be on the "right shoulder"?Right now the btc price is around 2555 USD.If the price drops to 1700 USD i would say that you are right , but there`s no reason for such a price drop. The btc growth is sustainable and not a result of hype. Only some hardfork during the summer can cause cuch price fall. There doesn't have to be a reason. Sometimes stop losses create uncontrollable selling which forces the price down. Because bitcoin is thinly traded, it just takes one big sale to trigger an avalanche. |
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http://www.coindesk.com/united-nations-sends-aid-to-10000-syrian-refugees-using-ethereum-blockchain/One of the largest-ever implementations of the ethereum blockchain for a charitable cause has just concluded a successful trial.
Completed on 31st May, the project run by the United Nation's World Food Programme (WFP) was designed to direct resources to thousands of Syrian refugees by giving them cryptocurrency-based vouchers that could be redeemed in participating markets.
As revealed exclusively to CoinDesk, the platform was successfully used to record and authenticate transfers for about 10,000 individuals. The platform was implemented by Parity Technologies, a startup led by ethereum co-founder Gavin Wood, and blockchain big data firm Datarella.
Alexandra Alden, a WFP innovation accelerator consultant who helped oversee the implementation, told CoinDesk:
"All funds received by the refuges from WFP were specifically used to purchase food items such as olive oil, pasta and lentils."
The WFP is now in the process of gathering more detailed analytics, such as exactly how many transactions were conducted.
As reported by CoinDesk in early May, the WFP intends to expand the project to include 100,000 individuals in Jordan as soon as August. If that goes according to plan, the effort is set to grow to serve the entire Jordanian refugee population by the end of 2018.
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Worked for me, thank you! Excellent! I don't know why Poloniex doesn't have support staff on Bitcointalk, they seem to concentrate on Reddit only. |
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I'm starting to think that the alts have a major part to play in bitcoin's price. If the flippening happens, I think people might stampede out of bitcoin into some alts.
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