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semaforo (OP)
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June 16, 2017, 07:28:52 PM |
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It seems to me that most of the ethereum price increase is fuelled by a combination of promotion by big money and people who are not really 'believers' hoping to get rich quick on the next bitcoin.
As most of us more seasoned folks in the cryptocurrency space know, the real value of a coin/token is the community that uses it. It seems to me like a disproportionately high percentage of the ethereum community is get rich quickers who tout the advantages of smart contracts, but I have yet to have someone convince me that smart contracts are all they are cracked up to be.
My theory is that any cryptocurrency is vulnerable to the extent that its community is made up of 'get rich quickers'. For example, the bitcoin value base was built by people who really believed in it and would have continued to work with it at any price level. I sense this exists with the ethereum community as well, but my feeling is that this group is much smallet with ethereum, and that big money is seizing on it as an opportunity to pump up the value and capture cryptos potential for profit, since apparently some think it is too late to be an early adopter in bitcoin.
I could be totally wrong, and hopefully if so someone would be able to explain why.
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Alexila
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June 16, 2017, 07:33:20 PM |
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Ethereum is bringing an entire next generation of innovation to the industry. Its still a work in progress, but its now bringing many of the top minds in the world into the industry.
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Everex.io first transparent blockchain microfinance platform built on Ethereum. Based on fiat-pegged stable coin cryptofiat smart contracts. Join our active community on Telegram.
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zend7
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June 16, 2017, 07:50:59 PM |
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Well not really. But Ethereum will soon switch from proof of work to proof of stake after a few months meaning that the big guys, investors and developers will decide what happen with it because they hold about 85% of all the supply. Many home miners like myself are only mining Ethereum through GPU-s to convert it to bitcoin. If I were you I would not invest any money into it.
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espante
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Activity: 98
Merit: 10
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June 16, 2017, 07:54:13 PM |
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Well its definitely a pump, whether its going to completely dump is another matter. There is obviously a core group of people who believe in it as well as those who buy for speculative reasons but the same is true for bitcoin.
You are right though that its vulnerable due to people buying in hopes of big wealth but I think it will follow the same path of bitcoin in the past, which means it will crash at some point only to recover to a level higher than before.
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gribble
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June 16, 2017, 07:56:32 PM |
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I don't think ethereum is a pump and dump coin due to ethereum has fungtion in real of business
many dapps be made on ethereum's blockchain,
ethereum's price goes up and down doesn't mean it is pump and dump coin but all of altcoins is fluctuating
so it is normal ethereum's price is increasing or decreasing.
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cpfreeplz
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Merit: 1042
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June 16, 2017, 08:03:18 PM |
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Does it help out the real world? A little. Is there any other alt that can do that same thing or better? Absolutely. Is it a pump and dump? 99% for sure.
Hey uh, what's the cap on ETH guys? I can't seem to find it anywhere. Oh that's because it's infinite. It's not a currency.
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CraigWrightBTC
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June 16, 2017, 08:08:23 PM |
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Actually i am not sure about ethereum will be survive for couples next years even ethereum has smart contract be offered
because there are other altcoins that has smart contract be offered, they are more transparant, immutable, unstopable
and also it is more cheap than on ethereum's blockchain. The coin is ethereum classic.
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AlexBessonov
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June 16, 2017, 08:17:34 PM |
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It seems to me that it is a pump in a dump — although I have been wrong before, I just don't see how ETH's price can keep skyrocketing. An end has to be in sight.
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HabBear
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June 16, 2017, 08:46:39 PM |
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66% of respondents (at this time) have voted that it is a pump and dump or that it's not but it doesn't have much utility. This demonstrates that a majority of people still don't understand what Ethereum is offering and how it can impact the world way beyond the bitcoin investment community. Here's a begginner's guide to Ethereum: https://blockgeeks.com/guides/what-is-ethereum/The business and government world's recent increased interest in the bitcoin industry is really focused on interest in the blockchain, the technology that makes bitcoin (and all other crypto-currencies) possible. These interested parties are either creating their own blockchain (which takes a lot of technical understanding and money) or they're using a template blockchain platform. The former requires a lot of technical expertise and money, the latter requires less technical expertise and money. And Ethereum is the first to market in providing a blockchain platform that any entity can build their organization or project off of. If you believe that blockchain technology can have uses beyond crypto-currency, you should be very bullish on Ethereum. Ethereum is taking the blockchain to the rest of the world. |
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erpbridge
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June 16, 2017, 09:06:03 PM |
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Almost every coin is a pump and dump. I guess we can all agree that the currency component of any coin is not going to happen soon. Neither are the applications and everything that coins promise. Eth promises that too, but it is not happening anytime soon. Hence the only reason its rising right now is the hype. Won't call in pump and dump, but eventually large holders will dump someday.
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Zenithar
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June 16, 2017, 09:10:02 PM |
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It seems to me that it is a pump in a dump — although I have been wrong before, I just don't see how ETH's price can keep skyrocketing. An end has to be in sight.
yes no doubt that Etherium has also good potential and its price can really increase too much, but currently i most of the people are interested in bitcoin and therefore most of the people have invested their money in bitcoin and still going to invest, because people are so much sure about the price of bitcoin to increase more and more. but i think when bitcoin price will become a bet stable then they will really start thinking about to invest in Etheium and may be then the price of Etherium start increasing. |
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freeyourmind
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June 16, 2017, 09:10:27 PM |
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It's always concerning to see exponential price increases, as we're seeing over the last few months with Ethereum. But it does make sense for all the computations and processing being done by the network to have a purpose or function, rather than to just process the transaction.
My thoughts are that there are good fundamentals, but there is no doubt there is a lot of pumping and speculative buying going on.
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pixie85
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June 16, 2017, 09:21:52 PM |
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It is, just like most altcoins. Some of them were obviously pumped and have no real value like Lisk. It rose from $0.5 to $4 in a month. That's a great example of purely speculative bubble.
Ethereum is the same. People smelled that Putin's involvement and got hyped that it could rise, threw their money in and guess what, it rose! On their own money.
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semaforo (OP)
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June 17, 2017, 04:00:09 AM |
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I'm mostly interested in hearing more from the people who claim it is something unique. It sounds vaguely like it can offer something other cryptocurrencies can't- but no one has been able to completely convince me of that.
I am fairly knowledgeable about business and economics, so I tend to think if you can't explain its revolutionary potential to me in 15 minutes, there is no revolutionary potential beyond that of any other coin.
It is totally possible to build on the bitcoin blockchain- governments are not interested in bitcoin specifically simply becauae they can't control it. Which is why intelligent people will always prefer bitcoin to any centralized or government coin.
I am not that smart though, which is why I am patiently waiting for someone to explain to me how ethereum is not the emperor's new clothes.
I get that it has resolved some of the scaling issues in advance and transaction fees are lower, but wouldn't this apply.for litecoin as well? Can't applications that code smart contracts be built on top of any blockchain?
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Eric Cartman
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June 17, 2017, 04:23:46 AM |
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Yes, just look how many premined coins, they have everything they need for a dump.
It already is being dumped, in fact, but slowly.
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semaforo (OP)
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June 17, 2017, 04:28:41 AM |
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Yes, just look how many premined coins, they have everything they need for a dump.
It already is being dumped, in fact, but slowly.
Yes but since it has an unlimoted supply if it is balanced who knows how long it could be milked for. |
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Herbert2020
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Activity: 1946
Merit: 1137
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June 17, 2017, 07:34:05 AM |
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the problem with ethereum and its price rise is that the community is using it! but they are using it in a wrong way. in the past few months that the price skyrocketed people have been rushing to exchanges to buy ETH tokens in order to participate in the countless ICOs that currently exist and there is no possible logical explanation for their actions since not all of them are even half good!
and the biggest problem that will show itself pretty soon is when all the developers start turning all those free ETH tokens they got from ICO crowdsale thing and crash the price hard! and when a drop happens it usually is followed by panic sells.
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Weak hands have been complaining about missing out ever since bitcoin was $1 and never buy the dip.
Whales are those who keep buying the dip.
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jmpFCE2
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June 17, 2017, 07:52:49 AM |
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It seems to me that most of the ethereum price increase is fuelled by a combination of promotion by big money and people who are not really 'believers' hoping to get rich quick on the next bitcoin.
As most of us more seasoned folks in the cryptocurrency space know, the real value of a coin/token is the community that uses it. It seems to me like a disproportionately high percentage of the ethereum community is get rich quickers who tout the advantages of smart contracts, but I have yet to have someone convince me that smart contracts are all they are cracked up to be.
My theory is that any cryptocurrency is vulnerable to the extent that its community is made up of 'get rich quickers'. For example, the bitcoin value base was built by people who really believed in it and would have continued to work with it at any price level. I sense this exists with the ethereum community as well, but my feeling is that this group is much smallet with ethereum, and that big money is seizing on it as an opportunity to pump up the value and capture cryptos potential for profit, since apparently some think it is too late to be an early adopter in bitcoin.
I could be totally wrong, and hopefully if so someone would be able to explain why.
hope you are right |
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pigheadbig
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June 17, 2017, 07:57:07 AM |
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The altcoin market is a new market that different from any other currency market like share market. There are no pumping and dumping limit in a day, so you can see many coins pump more than 50% in a day, or pump more than 30% during more than 3 days. So it many traditional rules are not suitable for this market and we should learn to follow it.
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HatakeKakashi
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June 17, 2017, 08:50:46 AM |
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Ethereum coin is promising coin and I think ethereum coin have big future and I think if bitcoin die ethereum is the next 1 crypto the crypto world. So its better to buy ether now and for sure after few months you will earn a lot of profit. Ethereum is porfitable to invest because the price is continue to increase everyday and I think many people love ether. Dont waste time invest now.
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