Sold 90% of Ethereum investment made at $10 in 2016, here's why

[MarquiseMuseum]

Disclaimer: I encourage everyone to have a small share in ethereum in case they resolve technical problems which where brought to the public awareness with kryptokitties network bottleneck. This is my personal opinion and I will list the reasons for my exit, used to be a hard core believer in Buterin

1) Ethereums price is dependent on bitcoin, it doesn't move on fundamentals anymore due to KK bubble popping the network, used to correlate with daily transactions, as you can see price decline relative to bitcoin has been deep which is indicative of this increasing lack of confidence, IOTA recently gained support from Microsoft, well does that mean that MS will drop Ethereum due to realization that scalability issues are insurmountable? What do you think will happen to your investment when this news hit the market? A disappearing act by the wizard Vitalik

2) The problem with scalability is that a currency utility/smart contracts built on the Ethereum blockchain will be self defeating since it cannot be two things at once, part of bitcoins value lies in simplicity of execution and that it doesn't have any added complexity, Buterins solution is overdeveloped and there is a high probability of complete failure and erosion of confidence due to insurmountable technical challenges and network security issues with hackers developing KK clones with low GWEI to clog the network.

3) If Ethereum were a stock, it's price would have declined by 80% in a day on news of KK problems, it's overvalued at $50BN in my opinion, a few hundred million should be fair value due to extreme risk

4) All the scalability solutions Buterin is working is brand new inventions that didn't exist before he created them, granted the man is a Genius, but does lightning strike twice? Investors at x50 should consider my words and due their own research, but I don't see a use case for Ethereum as a currency and smart contract all in one at this point or for the forseeable future, it is overvalued, of course this doesn't mean that the mass hypnosis will not continue pushing prices towards $2000, but the fall will only be harder the higher it climbs on lack of fundamentals. Of course its a compliment to bitcoin but so are ten thousand other cryptos at 1/100 the valuation. And since it's tracking bitcoin like a $100m coin since a few weeks it should also be valued like one, train wreck incoming, be careful investors. Remember $300m parity loss was brushed off like it was nothing "Ethereum is too big now"...this is not a guy who seems particularly concerned with minor things like hundreds of millions in investor losses...

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[KingScorpio]

Disclaimer: I encourage everyone to have a small share in ethereum in case they resolve technical problems which where brought to the public awareness with kryptokitties network bottleneck. This is my personal opinion and I will list the reasons for my exit, used to be a hard core believer in Buterin

1) Ethereums price is dependent on bitcoin, it doesn't move on fundamentals anymore due to KK bubble popping the network, used to correlate with daily transactions, as you can see price decline relative to bitcoin has been deep which is indicative of this increasing lack of confidence, IOTA recently gained support from Microsoft, well does that mean that MS will drop Ethereum due to realization that scalability issues are insurmountable? What do you think will happen to your investment when this news hit the market? A disappearing act by the wizard Vitalik

2) The problem with scalability is that a currency utility/smart contracts built on the Ethereum blockchain will be self defeating since it cannot be two things at once, part of bitcoins value lies in simplicity of execution and that it doesn't have any added complexity, Buterins solution is overdeveloped and there is a high probability of complete failure and erosion of confidence due to insurmountable technical challenges

3) If Ethereum were a stock, it's price would have declined by 80% in a day on news of KK problems, it's overvalued at $50BN in my opinion, a few hundred million should be fair value due to extreme risk

4) All the scalability solutions Buterin is working is brand new inventions that didn't exist before he created them, granted the man is a Genius, but does lightning strike twice? Investors at x50 should consider my words and due their own research, but I don't see a use case for Ethereum as a currency and smart contract all in one at this point or for the forseeable future, it is overvalued, of course this doesn't mean that the mass hypnosis will not continue pushing prices towards $2000, but the fall will only be harder the higher it climbs on lack of fundamentals. Of course its a compliment to bitcoin but so are ten thousand other cryptos at 1/100 the valuation. And since it's tracking bitcoin like a $100m coin since a few weeks it should also be valued like one, train wreck incoming.

waves is the future,

[MarquiseMuseum]

up for importance

[cryptogirls85]

I see a few topics opened recently about ETH and its demise 
You guys are really freaking out us "mortals" who are trying hodl a few Ethers for old age. Now I got my panties in a twist and dont know what to do next 

[sebinator]

You should not care about the price so much. The technology behind Ethereum is genius. Just wait one year and you will see massive increase in value.

[KingScorpio]

I see a few topics opened recently about ETH and its demise 
You guys are really freaking out us "mortals" who are trying hodl a few Ethers for old age. Now I got my panties in a twist and dont know what to do next 

sell ethereum for dollars and buy waves, before you are becoming the last rat on the sinking ship

[cryptogirls85]

Thank you for the advice. Are you their spokesman or somekind of a marketing agent for Waves? I notice you advise the same thing on a few topics.

Waves looking interesting (I`m not really "equiped" to give an expert opinion), is there any special reason it went from 5$ to 10$ in the past few days?

[rommelzkie]

Your justification is true and correct. Smart investors will start to realize this flaw in Ethereum Block chain. There are more promising block chain out there that is much better than Ethereum.

If ethereum doesnt fix this problem then ETH price will surely drop

[KingScorpio]

Thank you for the advice. Are you their spokesman or somekind of a marketing agent for Waves? I notice you advise the same thing on a few topics.

Waves looking interesting (I`m not really "equiped" to give an expert opinion), is there any special reason it went from 5$ to 10$ in the past few days?

no i have nothing to do with waves, i work on my own ico, and realized differences between blockchain encription services.

waves has had lowest transaction costs than ethereum and neo, and was ignored by the market, that was so obsessed with vitalik buterin, i made people beeing attentive on that fact, why paying 26 usd cents for transaction for ethereum token when you can have 0.5 cents on waves. people were so ignorant, so i help the market to fix its information inefficiency.

waves will get its just chance as a blockchain plattform and people wont have to pay 26 usd cents for ethereum transaction costs.

i dont want to mention bitcoins uselessness, with 60 usd transaction costs.

PS: waves surge from 5-10 is just the begining it will hit min. 20 usd by end of december maybe even more.

believe me i was right with my 10 usd dollar prediction back then too. i will be right with this prediction as well.

regards

[overttherainbow]

Hmmmmmm, very interesting. Part of me thinks that ETH is too-big-to-fail as there are a plethora of projects on the ETH blockchain.

The KK situation has definitely brought to the forefront what was going to become a problem for ETH (and that will probably become a problem for a lot of crypto): scalability.

I can understand why most people would be worried about this, but it's mountain most are going to have to climb and I expect a lot of projects will see it out to the top, ETH included.

Don't get me wrong, I wouldn't actively invest in it right now. In fact I'd go as far as MarquiseMuseum in saying that if you got in early maybe now is a good time to cash out, as I expect the price will soon reflect the problems ETH is having with KK, but in no way do I think that ETH is just going to go away forever or get muscled down by most other cryptos. I expect within due time this will be resolved as I imagine it's of utmost priority to the ETH development team.

[Febo]

3) If Ethereum were a stock, it's price would have declined by 80% in a day on news of KK problems, it's overvalued at $50BN in my opinion, a few hundred million should be fair value due to extreme risk

LOL at time when you invested when price was $10 it was totally clear that things like that will happen. There was so much written. Why you people dont read?  Where you get money to just dump in projects and never read about them?

But this is just one problem. There are way bigger with storing millions USD in contracts that can be and actually are stolen.   First point of blokchain that Satoshi gave us was secure. If yo cant give us a secure coin then that is not crypto.


Not to mention Ethereum blockchain is gonna be soon 500 Gb and increasing fast.

[S.Sandberg]

i did the same thing as OP, but not only for ethereum, i also did the same for bitcoin and other crypto.

It turns out Ethereum is struggling against every new achievements, but on the other hand, the whole market has rosen to such an extent, i don't see anything else than hype hysteria.

i mean, bitcoin is heading to 20k$ ( likely ) eth to 500 maye more as you stated, i think this isn't healthy at all.

even other cryptos such as DASH, XMR, LTC, did  x5 during the last 30 days.

You're not the only who sold out 90% of your crypto. i sold 98% of mine ahah. no one sane enough would keep its investments at such a high price, let alone buying at this price...

[swaptaker]

Doesn't matter what you made a mistake man. The scalability problem is not the end of the World. The coins are not valued just because of their functionality in the market. Never forget the speculative aspect of them.

[jlaakso]

I consider this as typical FUD messaging. Either promoting something else or trying to get ETH price down for hoarding more. It is actually quite sad that most of the recently opened threads are just empty speculation or attemps to spread FUD or hype.