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Author Topic: imagine 550,000 ETH dumped in a few hours  (Read 1829 times)
Spoetnik
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July 01, 2017, 02:28:15 PM
 #21

Pay for development? HAHAHAHAHAHAHA Cheesy

Didn't he make shit loads on all the other shitcoins he put out?

Hmm until he gets bored of this profit scheme?
The answer lies in the topic title Shocked

Does anyone have any idea why a developer would post a project he already made..
For a ton of money.. When he doesn't even need the money?

FUD first & ask questions later™
dissident
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July 02, 2017, 11:14:04 AM
 #22

Yeah, he's going to take the money and run. $165 million dollars? I'd take the money and run. Who's silly enough to dump so much money into these ICOs?  Developers don't need to get paid. A lot of modders spend hundreds of hours making big mods for games like Skyrim without the expectation of any significant compensation.. it should be a labor of love like NEM was, where you get rewarded after you put in the work and your coin rises in value.  You know these are all scams.  Paying people based on promises and a fancy looking website...  meanwhile great coins like Pascal which are making genuine progress sit with low market caps, with people like me accumulating them.
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July 02, 2017, 11:27:34 AM
Last edit: July 02, 2017, 12:28:54 PM by benthach
 #23

Selling that amount of ETH at once wouldn't be smart and definitely at this time would impact the market to some extent, most ICOs tend to held hold on to their ETH to pay their team, research and development and so on. It would be odd if it was any different this time around.


EOS plans to replace Ethereum, Dan's plan is to crash ethereum when the time is right.

if dan/they plan to take over this ico/token platform then this is the only option, dan/they're probably not smart enough to think this kind of high level of thinking stuff, also coding is another level of high iq shit.
if this happen people will chose EOS, ETH or ARK, it would be equal playing field after the dump but then i don't think dan/they have this kind of high iq or next level shit of thinking
i hope and highly recommended that dan will dump this shit eth all across exchanges to get the attention of EOS, in order to take over this ico/token platform but then again it depend on his level of iq and team orchestrating
i think this shit eth and the crook team doing bad to crypto world is enough, yes, some think eth is good but pyramid scam without working is bad.

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July 02, 2017, 11:43:14 AM
 #24

There were other ICOs which raised similiar amounts and price hasn't crashed.

If they start selling right away we can tell because we know where the ETH is sitting.

And this is the main reason why what OP is imagining will not happen because all eyes is really on them right now to not only live up to expectation but also not to crash the market. Also a responsible developer wont even need all that money at once because the project will definitely be completed in phases and aside that the other developers to be paid will equally be involved in crypto which means they will be paid in ETH while only few will want to cash out into fiat immediately.
qiman
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July 02, 2017, 12:06:44 PM
 #25

TOO many ICOS at once on the ETHEREUM platform may not bode well for the price of ETHEREUM in the interim, BUT having said that, if just half of these ICOS become very successful in the future, it may spark a bigger interest again in ETHEREUM and more real investment coming in, not just short term speculators.


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slackcryptoz
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July 02, 2017, 12:16:05 PM
 #26

That's a huge volume. Such a sudden dump will surely cause a market fluctuations in a large scale. As one of the user stated the growth happening through the ICO using ethereum platform will serve as an stabilty gain if majority of the ICO's grow successfully.
Zadicar
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July 02, 2017, 12:37:33 PM
 #27

Pay for development? HAHAHAHAHAHAHA Cheesy

Didn't he make shit loads on all the other shitcoins he put out?

Hmm until he gets bored of this profit scheme?
The answer lies in the topic title Shocked

Does anyone have any idea why a developer would post a project he already made..
For a ton of money.. When he doesn't even need the money?
Absolutely right, why would a developer would decide such thing if he doesnt really need money at all and he know already know that his project would really generate much more money later on. Dumping all of those ETH would surely affect its market price its just a simple economic subject regarding supply and demand.

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July 02, 2017, 12:44:38 PM
 #28

he will basically get 1bln $ in his pocket, for developing a 1m$ codebase...

This is stupid. people should not invest in this crap.

Even what he makes is great, and only time tells that, this makes Vitalik look like a Saint.

What is really the risk he is taking? Investors are taking a leap of jump, hoping in 3 years there will be some proven ETH alternative.

By that time: BTC will be better
ETH will be better
Many altcoins will be better.

how is it that EOS is by far the better alternative? Market prices it 1b$, to make any money you need to reach 1b$+ market cap. And in the meanwhile, imagine eth price just 3x?
You lost money in that case. easy.

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July 02, 2017, 12:47:42 PM
 #29

Pay for development? HAHAHAHAHAHAHA Cheesy

Didn't he make shit loads on all the other shitcoins he put out?

Hmm until he gets bored of this profit scheme?
The answer lies in the topic title Shocked

Does anyone have any idea why a developer would post a project he already made..
For a ton of money.. When he doesn't even need the money?
Absolutely right, why would a developer would decide such thing if he doesnt really need money at all and he know already know that his project would really generate much more money later on. Dumping all of those ETH would surely affect its market price its just a simple economic subject regarding supply and demand.

the biggest problem is that what OP mentions here is not the only one out there!
at some point things got out of hand, every damn day we saw a new ICO and every one of them was big. and that means even if each dump only a small portion of what they have gotten, price tanks hard.

when you push a wagon up the hill with 100 guys the only thing that is holding that wagon in its place is the force you are putting behind it. as soon as that force (being the fake demand that ICO caused) is removed the wagon is going to start rolling down each of those guys who step out means less force holding a heavy wagon up. Cheesy

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July 02, 2017, 01:31:54 PM
 #30

I am pretty sure the ICO's will use off exchange traders (OTC). Question is, what happens if the demand drops and they need to sell ETH to pay their running costs... Huh

Truth is the new hatespeech.
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July 02, 2017, 01:51:16 PM
Last edit: July 02, 2017, 03:41:47 PM by n691309
 #31

So, with EOS collecting 550,000 ETH already, and first round ending in 5 hours....

and it will be traded already on bitfinex?

so, we can imagine the proud owner of 550,000 ETH wants to cash some to pay development?

How much would you cash in current state of ETH?

I would cash all.

If he cashes all, what happens to the ETH price?

Yeah that happens. we are talking about 550,000 x 300 = 165,000,000 $ worth of ETH.

brace for impact.

If 165,000,000 $ worth of ETH dumping across exchanges the price per Eth probably go down to $5. There are not enough buy walls money to sustain that 165,000,000 $
Also most of these Eth volumes are fake.

EOS has been listed today in Kraken so there are more exchanges that are supporting this coin and the market cap seems to be 200k+ which is really a good start. They are not stupid to sell all the Ethereum collected during the ICO, nobody would sell the etherum for two digits. I first watched for the history in coinmarketcap but noticed that it was released only a day before.
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