What is Ethereum and how come it's shares have sky rocketed?
Discussion
Ginge R said:
a lot of big players made a lot of money. crazy numbers but still small fry. 8 dollars to 400 dollars in 6 months is good going.
JamieBeeston said:
Only if you want to lament on other peoples fortune,
instead get out there and make your own!
unfortunately the old adage is you need money to make money. to make money with less money takes longer, but i think you misunderstood the statement, i don't lament over other peoples fortunes, never have and never will, it was in reply to the post. i once looked at a few addresses while i was checking my balance, but lamenting was not on my mind.instead get out there and make your own!
i am sure you have made lots and money and a pat of the back to you, but most haven't.
Edited by The Spruce goose on Tuesday 11th July 01:04
Guvernator said:
ETH still heading south, how low will it go?
After such a rapid rise based overwhelmingly on FoMO, I think you can expect a long slow decline. There is no good news on the horizon, no fundamental such as technical milestones reached or real world use attained. It's pure froth, until it isn't.Behemoth said:
After such a rapid rise based overwhelmingly on FoMO, I think you can expect a long slow decline. There is no good news on the horizon, no fundamental such as technical milestones reached or real world use attained. It's pure froth, until it isn't.
or the vast ico scams selling off there eth loot may be the reason?The Spruce goose said:
or the vast ico scams selling off there eth loot may be the reason?
Unlikely. They are so cash rich now (as are Buterin & pals) that they don't need the money. And why prompt a sell off when doing so considerably diminishes the rest of your pile? You'd be shooting yourself in the foot. No, if there is any selling off it is coming from pump & dump market players, diligently followed five paces behind by scared small time investors.
Behemoth said:
Unlikely. They are so cash rich now (as are Buterin & pals) that they don't need the money. And why prompt a sell off when doing so considerably diminishes the rest of your pile? You'd be shooting yourself in the foot. No, if there is any selling off it is coming from pump & dump market players, diligently followed five paces behind by scared small time investors.
some of the ico wallets have had millions disappear, i was reading about it bitcointalk. i see the whole market in a slump again most likely due to many factors but the potential btc split seems a valid one.The Spruce goose said:
or the vast ico scams selling off there eth loot may be the reason?
Reading around today, I think you may be right on this after all. I hadn't realised just how many ICOs were using Eth as their vehicle to circumvent SEO regs on investments. I'd be worried that these ICO scams could become Ether's Mt Gox event. So many of these coins are utterly worthless that there'll be a desert of abandoned crypto projects in the coming couple of years. Meantime their lead devs will be zipping around in their fast depreciating Lambos 
some people where moaning that they only got 1.5 returns on there ico investment. we are talking hundreds of millions invested over last few months in icos only, and loads are s
t.
my current top pick is Useless Ethereum Token, like ronseal says what it is.
one thing to note though seriously, this could effect eths credibility if people start getting constantly ripped off by icos.
t. my current top pick is Useless Ethereum Token, like ronseal says what it is.
one thing to note though seriously, this could effect eths credibility if people start getting constantly ripped off by icos.
Edited by The Spruce goose on Wednesday 12th July 15:51
The Spruce goose said:
one thing to note though seriously, this could effect eths credibility if people start getting constantly ripped off by icos.
Certainly. It's reputation damage. Hence my Mt Gox reference. Nothing inherent in Bitcoin caused MtGox, but the reputation damage by association was enormous.Guvernator said:
What's an ICOS and why is it so important to Etherium?
ICOs are Initial Coin Offerings and have become a way for crypto projects to generate start up revenue from investors. Doing so avoids all the normal governance that comes with any other security. It's become a way for near criminals to cleverly print money by fooling naive investors. Ethereum has become a vehicle for this because it's so easy to wrap together in the ICO.There's an easy read Forbes piece on ICOs. Nothing technical and accurate for the most part https://www.forbes.com/sites/laurashin/2017/07/10/...
Behemoth said:
There's an easy read Forbes piece on ICOs. Nothing technical and accurate for the most part https://www.forbes.com/sites/laurashin/2017/07/10/...
Very interesting reading thanks. So like the dot.com bubble there are some good ideas and technology which will probably last but the other 95% of it is hot air, people pulling paper valuations out of thin air and clever people getting rich from other peoples greed. The opportunity is obviously there to make some decent money but a lot of it really does appear to be like playing roulette. How do you genuinely sort the wheat from the chaff? Interesting times. I'll definitely keep my hand in, albeit in small amounts but crypto currencies are far too volatile for me to bet the house on. Good luck to those big traders trying to make a lot of money from this by playing big, they certainly have a lot more b*lls then I do.Gassing Station | Finance | Top of Page | What's New | My Stuff