Ether price?

[shyliar]

For the DAO to fund any projects the ether they took in needs to be converted to fiat. I read somewhere that one of the projects they were considering supporting was a car sharing business in France. You can't buy vehicles with ether and even if you could it would be instantly exchanged for fiat.

Basically the DAO has been used to drive up the price  of ether and as they spend those ether to support projects it will drive the price back down. Once the ball starts rolling people holding ether will sell as well.

The idea that the DAO ether are locked off the market is incorrect. Those ether must be sold to make investments. If the DAO does not sell it's ether to invest, the DAO will have failed as an investment method. The only locked funds are those of the individual investors who currently can't get out.

That's not entirely correct some ether will be turned into fiat but a lot of projects will actually be using more ether.  Slock.it for example will take payments in ether and part of that ether will be going straight back to the DAO.  Most of the early projects will likely have to be like this (due to the undetermined legal status of the DAO). 

There is strong support for early projects to be those that grow the ethereum ecosystem for the mutual benefit of ether and DAO users (e.g. ether apps, exchanges like etherex etc.).  This will potentially lead to progressively more and more utility for ether resulting in greater and greater buy support.  It probably won't happen over night but as time goes on and ethereum use cases continue to increase then there will be continued upward pressure on price for ether. 

There is no guarantee but these things are always risky.  It was the same in the early days of bitcoin.  Nobody ever thought there would be enough buyers to support a price of a dollar, let alone hundreds of dollars. 

The momentum behind ether is now getting to the same kind of stage it was in about 2012/13 with Bitcoin so there is very big potential for growth there.

This thread subject is about the price of ether. If the DAO had of been limited to a small percentage of ether price movement would have been insignificant. Now we have an investment vehicle that represents a large chunk of a micro economy. When those funds get released the economy will need to convert millions into fiat to get these projects going. This is just true (people can't live on ether alone). The immediate future is either a very steep price correction or the DAO votes not to release funds.

I understand your believe in ether functioning as the fuel of a new economy with future DAOs and services. The problem here is the DAO is far to big a percentage of that economy and a price crash is likely for ether in the near future. Hopefully that economy can recover without souring a new generation of cryptocurrency enthusiasts.   

[Soul_eater_123]

This thread subject is about the price of ether. If the DAO had of been limited to a small percentage of ether price movement would have been insignificant. Now we have an investment vehicle that represents a large chunk of a micro economy. When those funds get released the economy will need to convert millions into fiat to get these projects going. This is just true (people can't live on ether alone). The immediate future is either a very steep price correction or the DAO votes not to release funds.

I understand your believe in ether functioning as the fuel of a new economy with future DAOs and services. The problem here is the DAO is far to big a percentage of that economy and a price crash is likely for ether in the near future. Hopefully that economy can recover without souring a new generation of cryptocurrency enthusiasts.  

Actually I would urge you to read more about how the smart contracts work.  Ether will not be paid out in huge chunks it will be paid out on a monthly basis.  Also as more projects get funded there is likely to be greater demand for ether due to the utility.  

Slock.it is so far the main proposal and that will only accept payment in ether - where will the people using Slock.it get their ether from?  They will have to buy it using fiat which will create more demand.  

If Slock.it takes off like an Uber or a Google then this would be huge for ether demand.  Nobody is saying this is guaranteed.  It is all a calculated risk but your extreme pessimism has the same ring to it that we saw when people said bitcoin would never be worth more than a few cents.

[shyliar]

This thread subject is about the price of ether. If the DAO had of been limited to a small percentage of ether price movement would have been insignificant. Now we have an investment vehicle that represents a large chunk of a micro economy. When those funds get released the economy will need to convert millions into fiat to get these projects going. This is just true (people can't live on ether alone). The immediate future is either a very steep price correction or the DAO votes not to release funds.

I understand your believe in ether functioning as the fuel of a new economy with future DAOs and services. The problem here is the DAO is far to big a percentage of that economy and a price crash is likely for ether in the near future. Hopefully that economy can recover without souring a new generation of cryptocurrency enthusiasts.  

Actually I would urge you to read more about how the smart contracts work.  Ether will not be paid out in huge chunks it will be paid out on a monthly basis.  Also as more projects get funded there is likely to be greater demand for ether due to the utility.  

Slock.it is so far the main proposal and that will only accept payment in ether - where will the people using Slock.it get their ether from?  They will have to buy it using fiat which will create more demand.  

If Slock.it takes off like an Uber or a Google then this would be huge for ether demand.  Nobody is saying this is guaranteed.  It is all a calculated risk but your extreme pessimism has the same ring to it that we saw when people said bitcoin would never be worth more than a few cents.

Also just announced now Plutus will be making a proposal to the DAO and will be incorporating ether payments into their wallet app.

I hardly think expecting a price correction in any cryptocurrency qualifies as extreme pessimism (I'm surprised you do). I'm talking about the immediate future of the price of ether.

[Soul_eater_123]

I hardly think expecting a price correction in any cryptocurrency qualifies as extreme pessimism (I'm surprised you do). I'm talking about the immediate future of the price of ether.

Well then we misunderstood each other.  Obviously there will be short term falls in price.  I'm talking about the long term price trend which I think for ether will be a continuing rise.

[Nxtblg]

That's not entirely correct some ether will be turned into fiat but a lot of projects will actually be using more ether.  Slock.it for example will take payments in ether and part of that ether will be going straight back to the DAO.  Most of the early projects will likely have to be like this (due to the undetermined legal status of the DAO). 

There is strong support for early projects to be those that grow the ethereum ecosystem for the mutual benefit of ether and DAO users (e.g. ether apps, exchanges like etherex etc.).  This will potentially lead to progressively more and more utility for ether resulting in greater and greater buy support.  It probably won't happen over night but as time goes on and ethereum use cases continue to increase then there will be continued upward pressure on price for ether. 

Yeah: the same old virtuous circle for any new disruptive tech that breaks through that ol' catch-22. Interestingly, blockchain technology is following the same path as the old standards. The usual way to break through that catch-22 is to find niches where the new tech cut costs or increased reliability for old industries.

The first business-scale use case for the steam engine was not the railroad train. It was use as a water pump for mines, making it a handmaiden for the centuries-old mining industry. In this humble capacity, not only did it save money through pumping out water much more efficiently but it also added value by enabling mines to go deeper underground. Some of the miners who bought a steam engine did so to revive abandoned mines full of water that could now be pumped dry.

We're seeing the same thing with "blockchain." Who else but an accountant would get enthused about a permissioned federated ledger system's ability to scotch out embezzlement? For the ordinary bloke, this benefit is a yawner - but to a fellow that thinks "two signatures on every check" is the state of the art in cash control, it's really exciting.

With regard to crowdfunding, projects like The DAO herald a new era in which crowdfunding becomes the replacement of the Graneen Bank. It'll really show its stuff if it facilitates a kaleidoscope of small projects, including some idiosyncratic ones.

We're a long way away from the point when the crypto economy reaches enough critical mass to spawn a crypt-only economy, in which some lucky folks can live their lives without touching fiat. Until then, whatever gets ya there...

[Soul_eater_123]

New DAO article in New York Times:
A Venture Fund With Plenty of Virtual Capital, but No Capitalist
http://www.nytimes.com/2016/05/22/business/dealbook/crypto-ether-bitcoin-currency.html?_r=0

[RealityTruth]

Moon Report Ether price analysis:
https://www.youtube.com/watch?v=rhhSB5PFQkY

[sandiman]

Aren't those two hammers extremely beautiful ?? Looks like sellers are having trouble handing with buying pressure. Since we got an higher low, buyers are actually supporting the pull back from last little dump.

[Docnaster]

It depends where the buying pressure is from. If the people stop buying Ethereum to get into DAO, there will be fewer buying.

[parmatiya]

New DAO article in New York Times:
A Venture Fund With Plenty of Virtual Capital, but No Capitalist
http://www.nytimes.com/2016/05/22/business/dealbook/crypto-ether-bitcoin-currency.html?_r=0

We are all the capitalists. I like the idea of the DAO, but we still need the investment experts to advise us.

[Soul_eater_123]

Looks like most alts along with Ether are undergoing a fall right now.

[GreenBits]

New DAO article in New York Times:
A Venture Fund With Plenty of Virtual Capital, but No Capitalist
http://www.nytimes.com/2016/05/22/business/dealbook/crypto-ether-bitcoin-currency.html?_r=0

We are all the capitalists. I like the idea of the DAO, but we still need the investment experts to advise us.

Amen. There is a reason why much education, and a few professional licences are necessary to simply be a fund manager. That doesn't even speak to landing a job in the space as well.

Looks like most alts along with Ether are undergoing a fall right now.

Indeed. Dash took a tiny hit the last time I checked, but ether is under going correction at the moment, hopefully it will recover as I assume there are a lot of investors in the 15 esque price range that would like to see a return to those levels.

[Xianantung]

New DAO article in New York Times:
A Venture Fund With Plenty of Virtual Capital, but No Capitalist
http://www.nytimes.com/2016/05/22/business/dealbook/crypto-ether-bitcoin-currency.html?_r=0

We are all the capitalists. I like the idea of the DAO, but we still need the investment experts to advise us.

Amen. There is a reason why much education, and a few professional licences are necessary to simply be a fund manager. That doesn't even speak to landing a job in the space as well.

Looks like most alts along with Ether are undergoing a fall right now.

Indeed. Dash took a tiny hit the last time I checked, but ether is under going correction at the moment, hopefully it will recover as I assume there are a lot of investors in the 15 esque price range that would like to see a return to those levels.

The price of the Etheruem has dropped over 20% over the last few days. So the correction has begun.

[GreenBits]

New DAO article in New York Times:
A Venture Fund With Plenty of Virtual Capital, but No Capitalist
http://www.nytimes.com/2016/05/22/business/dealbook/crypto-ether-bitcoin-currency.html?_r=0

We are all the capitalists. I like the idea of the DAO, but we still need the investment experts to advise us.

Amen. There is a reason why much education, and a few professional licences are necessary to simply be a fund manager. That doesn't even speak to landing a job in the space as well.

Looks like most alts along with Ether are undergoing a fall right now.

Indeed. Dash took a tiny hit the last time I checked, but ether is under going correction at the moment, hopefully it will recover as I assume there are a lot of investors in the 15 esque price range that would like to see a return to those levels.

The price of the Etheruem has dropped over 20% over the last few days. So the correction has begun.

We told them, but they accused us of being false. We shall see what will be reaped.


"In that place there will be weeping and gnashing of teeth"

[mandica]

New DAO article in New York Times:
A Venture Fund With Plenty of Virtual Capital, but No Capitalist
http://www.nytimes.com/2016/05/22/business/dealbook/crypto-ether-bitcoin-currency.html?_r=0

We are all the capitalists. I like the idea of the DAO, but we still need the investment experts to advise us.

Amen. There is a reason why much education, and a few professional licences are necessary to simply be a fund manager. That doesn't even speak to landing a job in the space as well.

Looks like most alts along with Ether are undergoing a fall right now.

Indeed. Dash took a tiny hit the last time I checked, but ether is under going correction at the moment, hopefully it will recover as I assume there are a lot of investors in the 15 esque price range that would like to see a return to those levels.

The price of the Etheruem has dropped over 20% over the last few days. So the correction has begun.

We told them, but they accused us of being false. We shall see what will be reaped.


"In that place there will be weeping and gnashing of teeth"

But the Ethereum price could rise in long term. It depends on the actual usage of the Etherum in real life.

[sofu]

[kingorbust]

damn, that is exactly like the ETH chart. Thinking of selling it, I bought it (not much) when it was over 0.03 BTC . Sure, people who bought it very cheap dont need to do this, they will still profit even if it crashes very low.

[bitcoineverything]

We always say, I hope I did invest before because the price
today is way higher than before.
If we do not risk we will not get anything and will just keep saying that. When we invest, we always risk and so let us not put all our money into one thing.
We can not tell the future of Ethereum, it still depends on the usage of the coin.

[jjacob]

It depends where the buying pressure is from. If the people stop buying Ethereum to get into DAO, there will be fewer buying.

Not only that, DAO would sell ether once it starts running.
Remember what happened to BTC price when all the coins collected in the Ethereum IPO were sold?

[Docnaster]

It depends where the buying pressure is from. If the people stop buying Ethereum to get into DAO, there will be fewer buying.

Not only that, DAO would sell ether once it starts running.
Remember what happened to BTC price when all the coins collected in the Ethereum IPO were sold?

When the Ethereum IPO started, the bitcoin price was around $600. A year later, it was around $230.