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Author Topic: [2016-02-11]Ethereum Price Rise being led by Bitcoin Flight  (Read 2206 times)
BlindMayorBitcorn
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February 12, 2016, 07:32:53 PM
 #21

Whatever the reasons for the Eth pump, be it Chinese miners using it for some profits atm or flight of Bitcoin holders

they will all be back to cash out their profits into Bitcoin eventually Grin

They can sell their Ethers for fiats. They don't have to come back.

Forgive my petulance and oft-times, I fear, ill-founded criticisms, and forgive me that I have, by this time, made your eyes and head ache with my long letter. But I cannot forgo hastily the pleasure and pride of thus conversing with you.
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February 13, 2016, 04:55:34 AM
 #22

Classic Pump and Dump. Pump it up, wait for just the right amount of inexperienced crypto users to buy-in hoping for fame and fortune while artificially raising the value, then dump the shit out of it and cash out, leaving the duped holding the bag (and all the losses).

It's happened to every alternate crypto-currency ever created. Seen it over and  over and over and over again since 2012 when I got interested in Bitcoin.
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February 13, 2016, 10:49:42 AM
 #23

Classic Pump and Dump. Pump it up, wait for just the right amount of inexperienced crypto users to buy-in hoping for fame and fortune, then dump the shit out of it and cash out, leaving the duped holding the bag (and all the losses).

It's happened to every alternate crypto-currency ever created. Seen it over and  over and over and over again since 2012 when I got interested in Bitcoin.


The real winners of this Ethereum pump are the guys behind the coin and Poloniex and a Kraken. Especially Poloniex, they probably made around 1000BTC from the fees during the entire pump. Cheesy

BlindMayorBitcorn
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February 13, 2016, 10:54:25 AM
 #24

It's up 100% and the number 2 coin now. This was no ordinary pump and dump.

Forgive my petulance and oft-times, I fear, ill-founded criticisms, and forgive me that I have, by this time, made your eyes and head ache with my long letter. But I cannot forgo hastily the pleasure and pride of thus conversing with you.
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February 13, 2016, 11:24:18 AM
 #25

Whatever the reasons for the Eth pump, be it Chinese miners using it for some profits atm or flight of Bitcoin holders

they will all be back to cash out their profits into Bitcoin eventually Grin

They can sell their Ethers for fiats. They don't have to come back.


Bitcoin up  Eth down today, perhaps they don't have to come back but sure does look like they did Grin
Redrose
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February 13, 2016, 11:24:43 AM
 #26

Classic Pump and Dump. Pump it up, wait for just the right amount of inexperienced crypto users to buy-in hoping for fame and fortune, then dump the shit out of it and cash out, leaving the duped holding the bag (and all the losses).

It's happened to every alternate crypto-currency ever created. Seen it over and  over and over and over again since 2012 when I got interested in Bitcoin.


Why would it be true for Ethereum, which has everything to be the number 2 crypto-currency ? Ethereum is unique, and can't be compared to the other ones.

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February 13, 2016, 12:27:38 PM
 #27

Bitcoin up to almost $390 and Ethereum down ~12%.
Could just be a small correction for Ethereum and a normal gain for Bitcoin without any relation to each other.
On the other hand...
Let's see how this will develop the next days.

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February 13, 2016, 01:16:08 PM
 #28

Classic Pump and Dump. Pump it up, wait for just the right amount of inexperienced crypto users to buy-in hoping for fame and fortune, then dump the shit out of it and cash out, leaving the duped holding the bag (and all the losses).

It's happened to every alternate crypto-currency ever created. Seen it over and  over and over and over again since 2012 when I got interested in Bitcoin.

People are actually building stuff with the Ethereum ecosystem.

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piloder
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February 13, 2016, 01:23:54 PM
 #29

It's up 100% and the number 2 coin now. This was no ordinary pump and dump.

If the price stays over $5 for a few months, I would call it a extraordinary pump or the value finding of Ethereum.

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Denker
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February 13, 2016, 04:48:28 PM
 #30

It's up 100% and the number 2 coin now. This was no ordinary pump and dump.

If the price stays over $5 for a few months, I would call it a extraordinary pump or the value finding of Ethereum.


We are already below $5.To be accurate it is $4,84.
As I said it could be just a "small" correction or the beginning of a bigger sell-off.

BellaBitBit
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February 13, 2016, 05:38:39 PM
 #31

It's up 100% and the number 2 coin now. This was no ordinary pump and dump.

If the price stays over $5 for a few months, I would call it a extraordinary pump or the value finding of Ethereum.


I have not thought it was a pump either through any of it.  There is a lot of attention to ETH and seeing that the "dump" is down to $4 something it seems to have found a price for now, which is way up from what it was just a few weeks ago.

I love Bitcoin
mtnsaa
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February 13, 2016, 10:45:17 PM
 #32

Actually I think it's holding very nicely at 0.0125, I'm not sure what you guys want, to be $10 or $20 in a week? This is very healthy in the long term. If it can hold 0.01 for the next weeks it means that you won't get it cheaper than that anytime soon. In Poloniex alone it has more than 6k BTC of support, that's no P&D in my opinion, there's plenty of interest in Ethereum. Do your research and you will understand that if Ethereum as a platform gets adopted by some big companies 72 m of ETH is nothing, that's why the value spiked, it's because of its potential of going big.

We all know the rest (even Bitcoin which would never be adopted by a respected company or institution) don't stand a single chance to make it big, there are many nice projects made by nerds but that's it. Ethereum proposes ideas and technologies that remind people of the first Bitcoin years. Of course there's a big chance that Ethereum just fails and that's it but it's in its first stages. There's room for a competitor too if it starts getting massively adopted.
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March 12, 2016, 08:42:53 AM
 #33

Ethereum's rapid rise is indeed surprising.
We should be careful about price manipulation.

Well, it's actually not that surprising. Especially when you consider that nearly 50-75% of the total coins are in the hands of just a few people. They can basically do anything to the price that they want. I thought it would stop once they reached 0.01BTC but I have the feeling that they will continue with pumping untill they reach a market cap of $1 billion.

Looks like my prediction just became reality. Ethereum reached $1 billion in market cap. I posted that on 12 February when the price was sitting at around 0.0155BTC. It doubled since then.

Denker
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March 12, 2016, 09:40:10 AM
 #34

Ethereum's rapid rise is indeed surprising.
We should be careful about price manipulation.

Well, it's actually not that surprising. Especially when you consider that nearly 50-75% of the total coins are in the hands of just a few people. They can basically do anything to the price that they want. I thought it would stop once they reached 0.01BTC but I have the feeling that they will continue with pumping untill they reach a market cap of $1 billion.

Looks like my prediction just became reality. Ethereum reached $1 billion in market cap. I posted that on 12 February when the price was sitting at around 0.0155BTC. It doubled since then.

So what?
The scammy pump continues to move on as long as there are enough dumb people investing their money in it.
A crash will come.Question is only when, how hard and for how long.
I'm not saying that Ethereum is just a shitty alt, but this rise is definitely artificial and many people will get burned fi they don't get out in time.

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March 12, 2016, 01:43:51 PM
 #35

There is something very nice about the new wallet and Ethereum in general. But I missed the boat on this occasion.
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March 12, 2016, 02:09:39 PM
 #36

There is something very nice about the new wallet and Ethereum in general. But I missed the boat on this occasion.

You have not missed the boat. The Ethereum and its DApps are being develoved constantly. So the price will rise again.

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March 12, 2016, 03:43:36 PM
 #37

The hopium surrounding Ethereum is palpable.

New apps you say? The one example they have is, ironically, how to make a pyramid scheme work. If they have others that mean anything, that would be of minor interest, but there isn't anything out there right now that is making waves.

ETH is still a platform looking for a solution, instead of something that fits an actual existing need. There are plentiful computing platforms, you don't have to use ETH to spin up some instances somewhere and get back-end code running. There isn't a worldwide cabal restricting computing usage either. Its just a quaint curiosity that has all of its focus on price, not utility.

I still maintain that it solves nothing, and even is doomed to fail given the decreasing cost in computing power per cycle/flop/what-have-you.

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btbrae
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March 12, 2016, 04:42:21 PM
 #38

There is something very nice about the new wallet and Ethereum in general. But I missed the boat on this occasion.

You have not missed the boat. The Ethereum and its DApps are being develoved constantly. So the price will rise again.

Thanks. Perhaps. I love the DApps which I just googled here http://dapps.ethercasts.com/, I have to admit I have had my head in the sand on this one, despite bookmarking the Ethereum topic some 2 years ago when EMunie was around. I seem to remember the owner of EMunie was very protective, very isolationist in his approach that he shut out all other developers. I thought that was the wrong way to go because it does not harness the labour and ideas of others. Allowing people to find all kinds of uses for contracts and create services and tools using their own imagination is potentially a game-changer. It looks pretty easy for them to implement it too. We'll see.

I don't know about the price, honestly, it could go anywhere. But I will probably wait for a pullback, and in the meantime have a think about how this can be used.
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March 13, 2016, 07:18:16 AM
 #39

That's interesting how Ethereum just rose. However, I don't think that it is blocksize debate that is the main cause. This is just some big companies realising that Ethereum could be an interesting tool for them.

... But just those big gonna fork and copy it...

Does not matter, trend is friend.

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March 13, 2016, 07:23:38 AM
 #40

I tell you guys what will happen.
Ethereum will see a dump, no doubt about that.What we don't know is how much it will get dumped.
And what will happen after that is that one part will cash out and another other part will move into Bitcoin.
The dumb will get left behind if they should miss to get out in time.


My biggest fear to all the small investors is the rollover. Momentum WILL change and the market is so thin. Run for shelter!

Carpe diem  -  cut the down side  -  be anti-fragile
A feature that needs more than one convincing argument is no and Satoshi owes me no proof.
My coding style is legendary but limited to 1MB, sorry but cannot come much over my C64, Bill Gates and Tom Bombadil
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