OldschoolNoob (OP)
Newbie
 Offline
Activity: 16
Merit: 0
|
 |
June 17, 2016, 05:57:14 AM |
|
Greetings,
It's been a while since I posted here, couple of years, but I've been lurking always in the background.
Call me stupid, but I cannot comprehend ETH - including the Dao , it has a market cap of practically 2 billion dollars. A few other points here:
In the middle of BTC halving rally, ETH price is growing insanely - at 21 dollars now - I have been observing Poloniex ETH trading and it looks controlled and completely unnatural. Buy walls just keep appearing regardless of the circumstances, for instance a few days ago there was a 2000 BTC worth of ETH dump at 0.028 by a single entity, the buy orders came back to pre-dump levels in 2-3 hours.
I don't wanna be the one to ruin the party, but there is something rotten in the state of Denmark.
I would love to hear comments and observations, that are objective not just from ETH worshipers but old school crypto guys.
Thanks,
|
|
|
|
|
2dogs
Legendary
Offline
Activity: 1267
Merit: 1000
|
 |
June 17, 2016, 06:05:54 AM
Last edit: June 17, 2016, 06:30:31 AM by 2dogs |
|
On the one hand:
The market can stay irrational longer than you can stay solvent.
John Maynard Keynes, (attributed)
On the other:
Choo, choo, mf....
|
|
|
|
|
kiklo
Legendary
Offline
Activity: 1092
Merit: 1000
|
|
June 17, 2016, 06:07:55 AM |
|
ETH Just a load of Rich Guys (Goldman Sachs) Pumping up a market so they will profit on the dump. Same story different day.  FYI: Blockchains are not even well designed to be used a database, the thought that it could be a programming language is beyond stupid. By constantly storing transaction data , their blockchain will become to large to be useful. Example, you can write a program that only uses a few megabytes, or you can write a program that is on a blockchain already on 6 gigabytes and growing over a gig a month. ETH will collapse under it own blockchain's weight. It completely ignores the fact that resources are not unlimited. |
|
|
|
|
OldschoolNoob (OP)
Newbie
Offline
Activity: 16
Merit: 0
|
|
June 17, 2016, 06:14:15 AM |
|
ETH Just a load of Rich Guys (Goldman Sachs) Pumping up a market so they will profit on the dump. Same story different day. Is that an insider joke? About Goldman Sachs and ETH? This madness cannot go on forever, I suspect that when the dump comes it will be a hardcore one , the epic dump like down to sub 0.01 and beyond. And the inflationary nature of ETH - 13 million new coins per year as it is speculated, is another thing to bear in mind. The ETH worshipers will try to point out that it will turn to POW soon - if it goes POW then ETH and The DAO will be subject to SEC investigation, this is what should happen, and they are not stupid to do that. |
|
|
|
|
|
Arrakeen
|
|
June 17, 2016, 06:16:02 AM |
|
ETH devs obviously manipulating the market. I want to trust them, but something about the ETH team just doesn't sit right with me. Doesn't matter if they show their faces or not...
|
|
|
|
|
kiklo
Legendary
Offline
Activity: 1092
Merit: 1000
|
|
June 17, 2016, 06:18:47 AM |
|
Is that an insider joke? About Goldman Sachs and ETH?
This madness cannot go on forever, I suspect that when the dump comes it will be a hardcore one , the epic dump like down to sub 0.01 and beyond.
And the inflationary nature of ETH - 13 million new coins per year as it is speculated, is another thing to bear in mind. The ETH worshipers will try to point out that it will turn to POW soon - if it goes POW then ETH and The DAO will be subject to SEC investigation, this is what should happen, and they are not stupid to do that.
ETH is currently PoW, will be switching to PoS.  But the blockhain bloat will crush them if they are not dumped out of existence first. Goldman is dirty , they always have been and always will be dirty. |
|
|
|
|
|
Vaccinus
|
|
June 17, 2016, 07:16:25 AM |
|
ETH devs obviously manipulating the market. I want to trust them, but something about the ETH team just doesn't sit right with me. Doesn't matter if they show their faces or not...
he just dumped and forget about it, he didn't manipulate anything, there are some that are holding big amount, those are the culprit |
|
|
|
|
FruitBucket
|
|
June 17, 2016, 07:19:47 AM |
|
Is that an insider joke? About Goldman Sachs and ETH?
This madness cannot go on forever, I suspect that when the dump comes it will be a hardcore one , the epic dump like down to sub 0.01 and beyond.
And the inflationary nature of ETH - 13 million new coins per year as it is speculated, is another thing to bear in mind. The ETH worshipers will try to point out that it will turn to POW soon - if it goes POW then ETH and The DAO will be subject to SEC investigation, this is what should happen, and they are not stupid to do that.
ETH is currently PoW, will be switching to PoS. But the blockhain bloat will crush them if they are not dumped out of existence first. Goldman is dirty , they always have been and always will be dirty. The inflation is abut 13 million a year, it might be changed after PoS. I hope it will be PoW for long time to support the price. |
|
|
|
OldschoolNoob (OP)
Newbie
Offline
Activity: 16
Merit: 0
|
|
June 17, 2016, 07:26:00 AM |
|
Just did a bit of research on BTC and ETH trading volume.
BTC volume is around 2 - 2.2 million BTC per 24 hours for the last week - which is 14-15% of the total BTC coin supply.
On the other hand ETH volume per 24 hours is between 500,000 - 2 million ETH for the last week. That is 0.6- 2.5 % of the total ETH supply.
I'm not a rocket scientist but this would have to suggest that ETH is much more centralized than BTC - meaning, most of the ETH supply is in the hands of a handful of individuals , thus market manipulation is much easier,
|
|
|
|
|
|
stoat
|
|
June 17, 2016, 07:44:53 AM |
|
Massive bunch of sour grapes
|
| FREEDOMRESERVE | Free currency for the British Isles
Visit our website for more info
<-- Click here! | | FREEDOMRESERVE By the People and for the People |
|
|
|
OldschoolNoob (OP)
Newbie
Offline
Activity: 16
Merit: 0
|
|
June 17, 2016, 08:01:01 AM |
|
Just happened on Poloniex - another 2000 BTC+ dump by a single entity.
Wonder when the general crypto community will finally wake up and realize what is happening.
And whatever is hapenning is seriously hurting crypto in general, and stopping the adaptation on the larger scale.
|
|
|
|
|
Minecache
Legendary
Offline
Activity: 2240
Merit: 1024
Vave.com - Crypto Casino
|
|
June 17, 2016, 08:02:03 AM |
|
So many bitter twisted posters just hating because they don't understand the tech and missed the ETH moonship.
|
|
|
|
|
stoat
|
|
June 17, 2016, 08:02:40 AM |
|
Just happened on Poloniex - another 2000 BTC+ dump by a single entity.
Wonder when the general crypto community will finally wake up and realize what is happening.
And whatever is hapenning is seriously hurting crypto in general, and stopping the adaptation on the larger scale.
Dem grapes so sour |
| FREEDOMRESERVE | Free currency for the British Isles
Visit our website for more info
<-- Click here! | | FREEDOMRESERVE By the People and for the People |
|
|
|
2dogs
Legendary
Offline
Activity: 1267
Merit: 1000
|
|
June 17, 2016, 08:25:06 AM |
|
Short it! ETH crashing!
|
|
|
|
|
Dinosaur
Member
Offline
Activity: 70
Merit: 10
|
|
June 17, 2016, 08:28:14 AM |
|
DAO and ETH crashed  |
|
|
|
|
w0t4n
Member
Offline
Activity: 63
Merit: 10
|
|
June 17, 2016, 08:35:56 AM |
|
what did just happen?!?! |
♝POW/HiPOS ♟CHESSCOIN ♞ICO OPEN ♜ |
|
|
|
streetlight
|
|
June 17, 2016, 08:36:25 AM |
|
$DAO hacked for $50M Thats what I am Hearing...
|
|
|
|
|
|
FruitBucket
|
|
June 20, 2016, 10:24:34 AM |
|
The DAO was hacked and about 3.6 million Ethereum has bee "stolen". The community are working hard to recover the funds. |
|
|
|
|
