Is Ethereum a pump and dump?

[semaforo]

     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]

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.

[zend7]

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.

[espante]

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.

[gribble]

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.

[cpfreeplz]

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.

[CraigWrightBTC]

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.

[AlexBessonov]

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.

[HabBear]

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.

[erpbridge]

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.

[Zenithar]

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.

[freeyourmind]

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.

[pixie85]

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.

[semaforo]

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?

[Eric Cartman]

Yes, just look how many premined coins, they have everything they need for a dump.

It already is being dumped, in fact, but slowly.

[semaforo]

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.

[Herbert2020]

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.

[jmpFCE2]

     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

[pigheadbig]

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.

[HatakeKakashi]

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.

[semaforo]

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.

   See, this is the sentiment that worries me.

   Ether is missing what to me is a key element of any strong cryptocurrency- limited supply. Somehow its utility is supposed to make up for this, but no one can really explain to me how it can do what other coins can't!

     It is plausible that institutional money is behind it to try to have a cryptocurrency they can have more control over than bitcoin, since the big money was too slow to really get in good with bitcoin.

   This makes me think all of the smart bitcoin people are going to avoid it, and a bunch of trigger happy green horns are going to freak out when the inevitable correction takes place, and fear losing their huge profits, and run ethereum into the ground.

   I'm sure this won't kill it but I would be very fearful of the current market trend.

  I just wish some programmers would show up and explain to me how it is really better to work with than bitcoin. Come on, it can't be that hard to explain, can it?

[musicmate]

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.

   See, this is the sentiment that worries me.

   Ether is missing what to me is a key element of any strong cryptocurrency- limited supply. Somehow its utility is supposed to make up for this, but no one can really explain to me how it can do what other coins can't!

     It is plausible that institutional money is behind it to try to have a cryptocurrency they can have more control over than bitcoin, since the big money was too slow to really get in good with bitcoin.

   This makes me think all of the smart bitcoin people are going to avoid it, and a bunch of trigger happy green horns are going to freak out when the inevitable correction takes place, and fear losing their huge profits, and run ethereum into the ground.

   I'm sure this won't kill it but I would be very fearful of the current market trend.

  I just wish some programmers would show up and explain to me how it is really better to work with than bitcoin. Come on, it can't be that hard to explain, can it?

Bitcoin is predominantly used for anonymous transactions .. ETH have "smart contacts" as the main feature, meaning it's suited for the business world because you can integrate an objective into the coin

Ie : I will make a contact with Joe for him to rent my house , every week he pay's me $300 , if he misses the payment , take payment from x account which is the bond money for the house. You can then take the smart contact to court as evidence to re-claim you're money from Joe..

In simple you can do more with ETH.. The only issue with ETH is that the code language used is new so not much people or Dev's would know it, it's called  Solidity..

That's where Lisk or LSK comes in & where i think it has very good value, it uses a code language that everyone understands which Java script, simply means more people or business will be able to work with it much easier then ETH i reckon..           

[Himanshu111]

Pump and dump is part of all cryptocurrencies and ethereum is no different. It surely is a pump but i don't think that ethereum will fall back to its old price ever now because we can't deny the fact that it is gaining more and more popularity everyday and many people are investing in it because of its features and capabilities.

[Mia Wallace]

Since Ethereum is a contract based token platform and we are seeing more projects using them we are seeing these sort of price,it is just my opinion and  if you need to seed those contracts you need ETH as gas to send the contracts and i think that is the case here,will it keep going higher,it might as long as the contracts are going strong.

[Siren]

Pump and dump is part of all cryptocurrencies and ethereum is no different. It surely is a pump but i don't think that ethereum will fall back to its old price ever now because we can't deny the fact that it is gaining more and more popularity everyday and many people are investing in it because of its features and capabilities.

Agreed. It may have been a pump and dump coins after all. But the pump we are seeing are just too hard to ignore now. And we may never see that the price could go down as low as it was before. ICO's are offering ETH as alternative now to bitcoin as form of investment. So for this reason alone, it will not go down soon but instead still go up as time passes by.

[oaks05]

Ethereum will continue to rise as long as these ico's stick around, I work at a big company and people that never heard of cryptocurrencys hear something about it, it seems to be ethereum these days so word is def getting out about it and as long as new people keep hearing about it i think it can keep gaining adoption.

[semaforo]

Ethereum will continue to rise as long as these ico's stick around, I work at a big company and people that never heard of cryptocurrencys hear something about it, it seems to be ethereum these days so word is def getting out about it and as long as new people keep hearing about it i think it can keep gaining adoption.

  It seens that for some reason ethereum appeals to people who have the kind of money to have major influence on the media as well... I get the feeling perhaps it has been picked by rich people who realize they are too late to catch the bitcoin train but that they can capture a large percentage of bitcoin market share by pumping up ethereum, which perhaps is easier due to its more centralized nature. Also the price would be easier to pump up to force weak hands to diversify out of bitcoin, creating a snow ball effect.

[machinek20]

I believe erh is more than pump and dump, there are serious investors and developers that want to develop this coin, eth now has become bitcoin sidekick, so if anything happen to bitcoin the most possibility replacement is eth

[Mazt rhiezt]

Etereum affects new investors who know the crypto world, this is happening recently because of the delay they know and hold bitcoin.
But for these old investors do not affect anything in accordance with their ethereum like decoration without any special in it.

[Tolrem]

It absolutely is. A lot of tech talk but I cannot imagine that was your implied premise. It's got miles to go first before the real holders cash in and the feds regulate ICOs.

[Pursuer]

in short if you could invest in these ICOs with anything but ETH, like if you could buy them with bitcoin only, then ETH price would have still been at 0.01BTC at most.

Bitcoin is predominantly used for anonymous transactions ..

bitcoin doesn't give anyone any good level of anonymity, and those who want that are using Monero instead.

ETH have "smart contacts" as the main feature, meaning it's suited for the business world because you can integrate an objective into the coin

this is actually the main problem!
because smart contracts is the only thing that it offers and unlike bitcoin it is not really a unique thing to use, there are other platforms that does the same thing even better!!
and also the business world that you are talking about will never use ethereum, they only get in, watch and learn, then go implement their own thing to have extra security and don't worry about the 72 million ETH token premine thing...

[findingthemoon]

because smart contracts is the only thing that it offers and unlike bitcoin it is not really a unique thing to use, there are other platforms that does the same thing even better!!
and also the business world that you are talking about will never use ethereum, they only get in, watch and learn, then go implement their own thing to have extra security and don't worry about the 72 million ETH token premine thing...

Almost all altcoins can do what bitcoin does but better yet bitcoin is still on top. Why? Because it is the first cryptocurrency on the market. The same can be said of Ethereum, smart contracts can be done by other coins yes but Ethereum has first mover advantage. As for the premine it was never hidden from the public.

[xbiv2]

Ethereum it -49.77% annualy

[Herbert2020]

because smart contracts is the only thing that it offers and unlike bitcoin it is not really a unique thing to use, there are other platforms that does the same thing even better!!
and also the business world that you are talking about will never use ethereum, they only get in, watch and learn, then go implement their own thing to have extra security and don't worry about the 72 million ETH token premine thing...

Almost all altcoins can do what bitcoin does but better yet bitcoin is still on top. Why? Because it is the first cryptocurrency on the market. The same can be said of Ethereum, smart contracts can be done by other coins yes but Ethereum has first mover advantage. As for the premine it was never hidden from the public.

not at all.

first of all bitcoin is NOT the first cryptocurrency on the market. there have been a couple of others before bitcoin and some more just small projects not a full network before it. but bitcoin thrived among them and became big. so it pushed them aside and became number 1.

also bitcoin doesn't have a premine but eth and most of the altcoins do.
bitcoin have a good developing team that has been checking the code, improving and other things. but none of the altcoins can say the same. they fail to do simple things. ethereum is easily exploitable for example.
bitcoin has the most secure network which none of the altcoins have.
bitcoin has the most adoption among merchants which NONE of the altcoins have, the altcoins never leave exchanges and ethereum is never used in anything other than smart contracts which is a fancy word for ICO scams.
and a lot more ..

so you see the fact that you are not informed properly doesn't mean you are right. people didn't randomly choose bitcoin for investment or for store of value or for usage as a currency they chose it because it is the best thing among all the cryptocurrencies. but in the past couple of months because of problems the fees have gone up and all the altcoin pumpers are using this fact to milk the masses out of their money by fooling them into investing in all the altcoin craps.

[musicmate]

in short if you could invest in these ICOs with anything but ETH, like if you could buy them with bitcoin only, then ETH price would have still been at 0.01BTC at most.

Bitcoin is predominantly used for anonymous transactions ..

bitcoin doesn't give anyone any good level of anonymity, and those who want that are using Monero instead.

ETH have "smart contacts" as the main feature, meaning it's suited for the business world because you can integrate an objective into the coin

this is actually the main problem!
because smart contracts is the only thing that it offers and unlike bitcoin it is not really a unique thing to use, there are other platforms that does the same thing even better!!
and also the business world that you are talking about will never use ethereum, they only get in, watch and learn, then go implement their own thing to have extra security and don't worry about the 72 million ETH token premine thing...

It has a level of anonymity & that was it's main purpose other then exchanging digitally  , the point of me bringing it was to offer the OP some basic understanding of the two he/she was asking about.

And in reply to you're ETH comment, yes you would never see Google taking up ETH, they would just make there own if anything , but my point was more that ETH allows innovation via smart contacts , not a point of is there better cos again the point was to give the OP some basic understanding of the two.

As for better, it's still early day's & we will see so much more in this space from every angle




   

[semaforo]

because smart contracts is the only thing that it offers and unlike bitcoin it is not really a unique thing to use, there are other platforms that does the same thing even better!!
and also the business world that you are talking about will never use ethereum, they only get in, watch and learn, then go implement their own thing to have extra security and don't worry about the 72 million ETH token premine thing...

Almost all altcoins can do what bitcoin does but better yet bitcoin is still on top. Why? Because it is the first cryptocurrency on the market. The same can be said of Ethereum, smart contracts can be done by other coins yes but Ethereum has first mover advantage. As for the premine it was never hidden from the public.

not at all.

first of all bitcoin is NOT the first cryptocurrency on the market. there have been a couple of others before bitcoin and some more just small projects not a full network before it. but bitcoin thrived among them and became big. so it pushed them aside and became number 1.

also bitcoin doesn't have a premine but eth and most of the altcoins do.
bitcoin have a good developing team that has been checking the code, improving and other things. but none of the altcoins can say the same. they fail to do simple things. ethereum is easily exploitable for example.
bitcoin has the most secure network which none of the altcoins have.
bitcoin has the most adoption among merchants which NONE of the altcoins have, the altcoins never leave exchanges and ethereum is never used in anything other than smart contracts which is a fancy word for ICO scams.
and a lot more ..

so you see the fact that you are not informed properly doesn't mean you are right. people didn't randomly choose bitcoin for investment or for store of value or for usage as a currency they chose it because it is the best thing among all the cryptocurrencies. but in the past couple of months because of problems the fees have gone up and all the altcoin pumpers are using this fact to milk the masses out of their money by fooling them into investing in all the altcoin craps.

   I suspect herbert knows what he is talking about.

  In the example of rent as a smart contract, I fail to see how bitcoin could not serve this same purpose, I mean you could just use a normal contract and use bitcoin to verify that payment is being sent from one address to another. Please explain to me where the actual value added proposition of ethereum over bitcoin comes in.