Ethereum is not worth $40. Who else is shorting?

[LoyceV]

Ethereum is a joke now. Nobody thinks it's a serious, long term player anymore. It's appreciated in value solely because of Bitcoin instability and DASH pump. It can't sustain this price level, period.

I don't trust Ethereum one bit since it's shown to hard fork under centralized control. However, I never expected it to be pumped up so much. The whole "consortium" thing makes people fall for it, while The DAO showed smart contracts don't work because nobody understands the contract. Since smart contracts were Ethereum's sole USP, there's no reason left for it to exist.
And then there's the $4.6B market cap that proves otherwise. I don't think it has the long term "holders" the way Bitcoin has, while it's certain the creator owns many coins. Once the dump starts, I expect it to drop hard. But it can take long enough to go bankrupt trying to short it.

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[McWorse]

You might be right, LoyceV.
But the other side is:
Sometimes it is better to decide and akt quick and controlled instead of provoking a civil war, which leaves the market splitted and for a long term confused. And the solution of this all will be a hard fork, too....

[puremage111]

i will short if i have some cash flow to margin trade but anyhow

Few days ago ETH is raising is due to the FUD of the bitcoin core and bitcoin unlimited issue where people speculate that bitcoin might split to different chains and this cause panic so lets look at the top

Bitcoin (Dump)
ETH
Dash

ETH would be the better choice than Dash as dash pumped so hard since last week and ETH just recently got a growth of 1xx% but the price still not exceed $50 so it would be good to turn btc > eth imo

[jjacob]

Im just sad that i didnt buy more eth when it was around 12 dollars . All the eth haters are funny everyone who shorted at 40 s will be pissed now

There are a lot of people who regret that. Ethereum was under $1 for a long time and it just looked like it will go bust.
People had the opportunity to buy at that price, not long ago.

[Ketariz]

Im just sad that i didnt buy more eth when it was around 12 dollars . All the eth haters are funny everyone who shorted at 40 s will be pissed now

There are a lot of people who regret that. Ethereum was under $1 for a long time and it just looked like it will go bust.
People had the opportunity to buy at that price, not long ago.

The ETH is over $60 now. I think many people have made good profits.

[iDice_io]

Ethereum isn't worth nearly as much as it is valued at right now. It's riding the on the tail of Dash but that gravy train is about to dry out, too. Ethereum is going to reestablish itself back in the .01-.02 mark where it belongs. Who else is putting in big shorts?

What's your reasoning behind this? Big companies like Microsoft are getting involved with projects like the Ethereum Alliance.

[clockbits]

Ethereum isn't worth nearly as much as it is valued at right now. It's riding the on the tail of Dash but that gravy train is about to dry out, too. Ethereum is going to reestablish itself back in the .01-.02 mark where it belongs. Who else is putting in big shorts?

What's your reasoning behind this? Big companies like Microsoft are getting involved with projects like the Ethereum Alliance.

been trying to figure it out as well...

Some people here are so dead set against Ethereum and its value/significance while it seems to have a better hold in the mainstream then bitcoin ever did. Obviously bitcoin is more recognisable but in terms of actual serious consideration by mainstream global corporations it was never in the position Ethereum is right now (backed by Microsoft, Intel, JP Morgan, Banco santander, Google etc.)