ETH price soaring. Are you going to move some BTC into ETH?

[mtnsaa]

I can't believe "Bitcoiners" are still "on the fence" and talking about Ethereum is not a currency. I have literally read that some seconds ago. Not it's not a currency, Ethereum can perfectly thrive at the side of Bitcoin. However, what you still don't get after Hearn made it pretty clear, is that Bitcoin is also NOT a currency, it has failed as a payment system, it's a complete joke.

That doesn't mean it's the end, but it's clear useless if the intention was to pay for things with Bitcoin, no adoption whatsoever. Now as a digital way to store wealth, kinda like digital gold, yes, it has proven itself over time, it works even if the transactions are slow or has become "centralized" with just a few big players calling the shots.

Ethereum can go easily to $100 this year, $50 is a very real chance now not. People were betting if it would hit 1 Billion, lol...the bet should be more like if they can surpass Bitcoin market cap by next year. ETH has "only" 72 million with more coming each year after it stops. It was made to be highly divisible so of course they aimed for the sky on this, if it ever gets adopted and companies, banks and institutions around the world transactions and contracts would cost in Weis (like Satoshis) not $50 or $200...

[1714554794]

1714554794

[1714554794]

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[pbleak]

, it has proven itself over time, it works even if the transactions are slow or has become "centralized" with just a few big players calling the shots.

Ethereum can go easily to $100 this year, $50 is a very real chance now not. People were betting if it would hit 1 Billion, lol...the bet should be more like if they can surpass Bitcoin market cap by next year. ETH has "only" 72 million with more coming each year after it stops. It was made to be highly divisible so of course they aimed for the sky on this, if it ever gets adopted and companies, banks and institutions around the world transactions and contracts would cost in Weis (like Satoshis) not $50 or $200...

Don't get too excited. This is how Bitcoiners used to talk about bitcoin...

[50cent_rapper]

Few altcoins will overpass Bitcoin in the long term.
No  intelligent person in the world believes that there will be no more interesting SOFTWARE in the future.

[bluebox]

http://www.businessinsider.com/what-is-blockchain-2016-3

The big elephants are aware of and talking/testing blockchains, smart contracts, PoS etc. for elimination of their back offices. No-one can speculate that any existing digital currencies would be a part of this future; they likely want and will create their own chains. It only goes to validate the usefulness of Ethereum over other digital currencies in that these mechanisms have already been thought out and planned into it from the beginning.

Those who don't run a bank or brokerage may want access to the same capabilities, and it appears Ethereum is the only game in town to match.

FWIW. 

[toknormal]

I can't believe "Bitcoiners" are still "on the fence" and talking about Ethereum...what you still don't get after Hearn made it pretty clear, is that Bitcoin is also NOT a currency, it has failed as a payment system, it's a complete joke.

Ethereum can of course be a currency - anything can. The Euro is a currency even though Mr Draghi announced yesterday it was formally worthless by offering to pay people to borrow it.

Maybe what you "still don't get" is why researchers spent 20 years trying to come up with something like bitcoin in the first place. Up until 2009, there was no "gold" analogue on electronic networks - an uncounterfeitable token that could be directly transferred peer to peer in the absence of a trusted counterparty. The bitcoin phenomenon broke that duck.

The best that can be said about Ethereum in terms of store of value metaphors is that it's a leaky hot-air balloon. The "hot air" comes from the speculative expectation of accrued value. The "leaky" part comes from 2 sources:

[1] - the huge emission trajectory

[2] - the diverse range of investment targets that will be created by the ecosystem (i.e you're going to have to decide if you want to invest in the assets or the tokens and, although the capitalisation of the tokens will boost the value of the assets, the capitalisation of assets may not to the same for the tokens since many or most of them will be blockchain independent)

Ethereum can go easily to $100 this year, $50 is a very real chance now not..... if it ever gets adopted and companies, banks and institutions around the world transactions and contracts would cost in Weis (like Satoshis) not $50 or $200...

If Ether goes to $100, it will only do so if Bitcoin goes to $6000 IMHO. People are not trading the ETH/$USD market, they're trading BTC ratio who's trajectory is a whole different prospect from what you're citing. The bitcoin reward is getting close to halving. Ethereum, on the other hand is about to spew another 20 million coins into the supply over the next 12 months, shrinking your holding as a percentage of the coin supply by 28%.

What will people do in this circumstance ? One of three things:

[1] - use it to build assets, companies and blockchain-based products who's value DOES continue to accrue regardless of the value of Ether tokens

[2] - dump it into a true, store-of-value bearer token such as bitcoin (or equivalent such as Dash where it even earns a return)

[3] - hold Ethereum tokens, do nothing with them and watch them lose value against Bitcoin (even though they may gain value against the $USD)

...and that's exactly as was intended by the designers  

[CCV.IO]

Here is an interesting comment from R3cev:

"At R3, our team of engineers are in constant collaboration with the financial services professionals at our 42 member banks.  Most of our work entails marrying requirements with development execution to satisfy the standards of our consortium.

Though we cannot claim a monopoly on expertise in distributed ledgers or capital markets, we have begun to eliminate certain approaches to any financial-grade software solutions. Upon examining the distributed ledger landscape, we’ve found that the most saliently unsuitable application of distributed ledger technology is also one of the most popular: colored coins.

Colored coins are Bitcoin transactions which carry particular meanings (...) and replicate the “move fast and break things” attitude common to Silicon Valley rather than being designed in a way that best addresses the problem they seek to solve. The multiple hacks on Bitcoin exchanges through the years attest (...) the inadequacy of this approach when millions, let alone billions, of dollars are at stake."

Read the full report @ http://r3cev.com/blog/

CONCLUSION: No banks will ever use BTC but will more likely develop their "in-house" blockchain technology & companies like R3cev & Ripple will try to assist banks standardised their collaboration.

[mtnsaa]

I can't believe "Bitcoiners" are still "on the fence" and talking about Ethereum...what you still don't get after Hearn made it pretty clear, is that Bitcoin is also NOT a currency, it has failed as a payment system, it's a complete joke.

Ethereum can of course be a currency - anything can. The Euro is a currency even though Mr Draghi announced yesterday it was formally worthless by offering to pay people to borrow it.

Maybe what you "still don't get" is why researchers spent 20 years trying to come up with something like bitcoin in the first place. Up until 2009, there was no "gold" analogue on electronic networks - an uncounterfeitable token that could be directly transferred peer to peer in the absence of a trusted counterparty. The bitcoin phenomenon broke that duck.

The best that can be said about Ethereum in terms of store of value metaphors is that it's a leaky hot-air balloon. The "hot air" comes from the speculative expectation of accrued value. The "leaky" part comes from 2 sources:

[1] - the huge emission trajectory

[2] - the diverse range of investment targets that will be created by the ecosystem (i.e you're going to have to decide if you want to invest in the assets or the tokens and, although the capitalisation of the tokens will boost the value of the assets, the capitalisation of assets may not to the same for the tokens since many or most of them will be blockchain independent)

Ethereum can go easily to $100 this year, $50 is a very real chance now not..... if it ever gets adopted and companies, banks and institutions around the world transactions and contracts would cost in Weis (like Satoshis) not $50 or $200...

If Ether goes to $100, it will only do so if Bitcoin goes to $6000 IMHO. People are not trading the ETH/$USD market, they're trading BTC ratio who's trajectory is a whole different prospect from what you're citing. The bitcoin reward is getting close to halving. Ethereum, on the other hand is about to spew another 20 million coins into the supply over the next 12 months, shrinking your holding as a percentage of the coin supply by 28%.

What will people do in this circumstance ? One of three things:

[1] - use it to build assets, companies and blockchain-based products who's value DOES continue to accrue regardless of the value of Ether tokens

[2] - dump it into a true, store-of-value bearer token such as bitcoin (or equivalent such as Dash where it even earns a return)

[3] - hold Ethereum tokens, do nothing with them and watch them lose value against Bitcoin (even though they may gain value against the $USD)

...and that's exactly as was intended by the designers  

Dude, Bitfinex is the first that jumped in and many others will do the same because they are bailing out of Bitcoin, they are at war. I'm talking about Coinbase, Circle, Xapo, etc. They won't jump ship in the next weeks but if Ethereum continues to rise and Bitcoin keeps the same stubborn attitude, they will be losing money and that's all it matters. They are not fanboys that think it's Bitcoin or nothing.

Starting next week you can buy ETH with fiat so expect MANY exchanges and new investors flocking in, that's a fact. Many people invested a lot of money in BTC but never handle a wallet or authorization key. BTC is actually holding ETH back in my opinion. When investors can get ETH with fiat at many exchanges and sites, ETH will rise to $50 or even more.

[LoyceV]

thereum, on the other hand is about to spew another 20 million coins into the supply over the next 12 months, shrinking your holding as a percentage of the coin supply by 28%.

I wonder how many ethereum-buyers know this. It's the first time I read about it now, does this mean the creators will dump 200 million usd worth of ethereum? That does support the pre-mine-scam-theories out there.

[toknormal]

I wonder how many ethereum-buyers know this. It's the first time I read about it now, does this mean the creators will dump 200 million usd worth of ethereum? That does support the pre-mine-scam-theories out there.

No. The 20 million is just from the mining supply that will come into existence over the next 12 months.

[toknormal]

Starting next week you can buy ETH with fiat so expect MANY exchanges and new investors flocking in, that's a fact. Many people invested a lot of money in BTC but never handle a wallet or authorization key. BTC is actually holding ETH back in my opinion. When investors can get ETH with fiat at many exchanges and sites, ETH will rise to $50 or even more.

You seem to think that's bullish. To me "many exchanges and investors flocking in" means high liquidity = opportunity for massive cashouts. At least that's the usual procedure.

[rocketron]

You cant really compare litecoin to Ethereum. Litecoin is only a fork of bitcoin and brought nothing new to game. Ethereum on the otherhand is a completly new form of blockchain tech, it isnt a fork of bitcoin.

[toknormal]

You cant really compare litecoin to Ethereum. Litecoin is only a fork of bitcoin and brought nothing new to game. Ethereum on the otherhand is a completly new form of blockchain tech, it isnt a fork of bitcoin.

Indeed. That's why NxT got its huge pump in January 2014, Bitshares, Ripple...you name it. (b.t.w. everybody said that about Litecoin at the time - that it was going to leave Bitcoin in the dust, witness that big green candle at the front of the profile).

It's not that I'm disagreeing with the fact that Ethereum will be "big", I'm just saying that the value in that network is not necessarily in the blockchain tokens. They can possibly be thought of as "hot air", relatively speaking.

[mtnsaa]

You cant really compare litecoin to Ethereum. Litecoin is only a fork of bitcoin and brought nothing new to game. Ethereum on the otherhand is a completly new form of blockchain tech, it isnt a fork of bitcoin.

Indeed. That's why NxT got its huge pump in January 2014, Bitshares, Ripple...you name it. (b.t.w. everybody said that about Litecoin at the time - that it was going to leave Bitcoin in the dust, witness that big green candle at the front of the profile).

It's not that I'm disagreeing with the fact that Ethereum will be "big", I'm just saying that the value in that network is not necessarily in the blockchain tokens. They can possibly be thought of as "hot air", relatively speaking.

Please, why is it so hard to understand that Ethereum is miles above those shitcoins? Only Litecoin passed the 1B market cap as far as I know, and we are talking about a clone with no real use other than speculation (we already have BTC for wealth storage and it works just fine...we can all agree on that). ETH has huge potential because those tokens you talk about need to be used so they will cost money, just like oil...how much we are figuring it out, it's just all getting started really. But it's just as simple as doing some simple logical deductions. ETH was made to be highly divisible, so 70 or 100m "tokens" is absolutely nothing, with 77-100 ETH you are part of the million club. Bitcoin's 6B market is a joke compared to big companies. Ethereum thrives because you see news like the Toronto Exchange, Reuters, Germany's RWE etc looking into it. If it really start getting implemented and used around the world do you really think $10-15 per ETHER is expensive? I won't even mention Augur or Slock.it.

[bitcoin carpenter]

Stop trying to get noobs from buying into this pump...  everything about it is screaming bad decision.  There will be a reversal, nothing climbs this fast without one.   If they can fix the problems then there may be hope, but if you want to gamble on it at least wait until it has priced itself back into reality.
800k sat might be a good place to start .

[mtnsaa]

Stop trying to get noobs from buying into this pump...  everything about it is screaming bad decision.  There will be a reversal, nothing climbs this fast without one.   If they can fix the problems then there may be hope, but if you want to gamble on it at least wait until it has priced itself back into reality.
800k sat might be a good place to start .

Lol, you are for a rude awakening when your precious BTC go back to reality too, like $100-200...that's what the halvening will bring, half the price.

[BitUsher]

I'm not going to pretend to know if ETH is going up or down in the short term, no one knows this, But I Have a good idea what is in store in the future-

http://bitcoinist.net/microsoft-bullies-open-source-is-the-blockchain-their-next-target/

This is why crypto-currencies need to remain decentralized, have tangible assets that cannot be replicated with code alone(PoW), and not have a centralized development team controlling the currency like ethereum. Yes, Ethereum is centralized and thus can be a target for lawsuits and state attacks because they already have had a IPO crowdsale and once they switch to POS the plan is to give a cut to of the fees/inflation to the Ethereum Foundation which controls the "fuel"

https://github.com/ethereum/wiki/wiki/White-Paper#fees

Creators are free to crowd-sell or otherwise assign some or all of the difference between the PoS-driven supply expansion and the maximum allowable supply expansion to pay for development.

[bitcoinhopper]

Stop trying to get noobs from buying into this pump...  everything about it is screaming bad decision.  There will be a reversal, nothing climbs this fast without one.   If they can fix the problems then there may be hope, but if you want to gamble on it at least wait until it has priced itself back into reality.
800k sat might be a good place to start .

Lol, you are for a rude awakening when your precious BTC go back to reality too, like $100-200...that's what the halvening will bring, half the price.

Like bitcoin carpenteer said, just stop this madness. ETH is at it's high now. It's been pumped big time.
The only logical thing to do is that he price will be dumped to the ground. And newcomers will lose money.

If you considered this well then you are too late.

[mtnsaa]

Stop trying to get noobs from buying into this pump...  everything about it is screaming bad decision.  There will be a reversal, nothing climbs this fast without one.   If they can fix the problems then there may be hope, but if you want to gamble on it at least wait until it has priced itself back into reality.
800k sat might be a good place to start .

Lol, you are for a rude awakening when your precious BTC go back to reality too, like $100-200...that's what the halvening will bring, half the price.

Like bitcoin carpenteer said, just stop this madness. ETH is at it's high now. It's been pumped big time.
The only logical thing to do is that he price will be dumped to the ground. And newcomers will lose money.

If you considered this well then you are too late.

We'll see what happens this week really, as usual selling the news is a common occurrence. However if it doesn't happen and new deals and announcements are made with the release of Homestead, then the real bubble will start.

I think I'm safe since I bought at 90k...(remember when 0.01 was the absolute top? right...)

[rocketron]

Hitfin.com

That is all.

[CCV.IO]

http://bitcoinist.net/microsoft-bullies-open-source-is-the-blockchain-their-next-target/

I quote: "Microsoft are attempting to limit open-source development with buy-outs, patent trolling, and charging royalties..."

What?!? Did I read well? buy-outs??? Whaaaooo!!!! Let's buy as much ETH as we can before Microsoft buys Ethereum and the price will explode!!!!

TO THE MOON!!!!!!!!!!!!!!!!!!