Crypto Ethereum set to go through the roof!

Discussion in 'Other Asset Classes' started by Cannon8tor, 22nd Mar, 2017.

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  1. Cannon8tor

    Cannon8tor Member

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    Hi Ive recently heard from a reliable source that ethereum is going to rapidly increase in price over the next 5 years. Im currently not trading in any cryptocurrency atm but this information got my attention!

    does anyone know if this is true? or is this just complete ********?
     
  2. Hodor

    Hodor Well-Known Member

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    We must have different definitions of reliable
     
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  3. Cannon8tor

    Cannon8tor Member

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    the person that told me about this is indeed a reliable source however i was just looking for further clarification from other people trading in this field such as yourself before proceeding to invest in cryptocurrency.
     
  4. Simon Hampel

    Simon Hampel Founder Staff Member

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    Sorry, my crystal ball is still in for repairs.

    I can however, guarantee you that the price will go up and that the price will go down. It may also stay stable for a while.

    I can also guarantee that this does not constitute what I consider to be a worthwhile "investment" - any capital you commit to this will be based on speculation rather than any fundamental or intrinsic value. That's not investing - that's essentially gambling.

    If your source is so reliable and so sure of the returns - will they underwrite your investment and guarantee your returns? No? Then ignore their tip and do your own research.

    Personally, I had never heard of Ethereum until you mentioned it. It's certainly not mainstream and has not been covered in any of the tech media that I read - and I think that says a lot about the (lack of) broad investment in the currency - very much niche at this point.
     
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  5. Cannon8tor

    Cannon8tor Member

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    Yes this is true ofcourse but everything is a gamble at the end of the day, and no he's not going to guarantee mine, yours or anyone's returns on investment.

    But ethereum was at $20 per ether and it peaked a few days ago at $51 PE (per ether) and it's now at $41 PE, bitcoin is at around $1056 per coin and I hear that ethereum is going to reach the same levels as bitcon over the next 5 years if this is true there is a lot of money to be made here which is why it got my attention.
     
  6. Simon Hampel

    Simon Hampel Founder Staff Member

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    Sorry, but it sounds like you really don't understand the difference between gambling and investing.

    Yes, there are risks in anything - even money in the bank, but there is a huge difference in the risk profile of speculating on currency - even more so on a relatively unknown (and unproven?) crypto-currency.

    BTW. your posts make it sound as though you are only here to ramp this product - I've not seen any constructive discussion from you about it other than repeating how much your "source" thinks it's going to go up. You'll need to do a lot more to convince us to take your questions seriously.
     
  7. Cannon8tor

    Cannon8tor Member

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    Mate I'm not here to ramp up "this product" if that's even a valid term of phrase to use when referring to currency trading!

    If you read my previous posts it's clear that I'm asking for advice from people who are trading in crypto currency you said you have never heard for ethereum before so thank you for your input but my question is aimed at people who are trading in ethereum or crypto
     
  8. Wukong

    Wukong Well-Known Member

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    I'm all in
     
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  9. ACMH16

    ACMH16 Well-Known Member

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    The current prices and recent fluctuations are irrelevant.

    In cryptocurrencies, price is essentially a function of demand, as supply grows relatively slowly and predictably. For ethereum to reach the same levels as bitcoin in the next five years, you'd need it to reach a similar level of uptake as bitcoin currently has.

    Why do you propose that this will happen?

    I don't know whether you've paid any attention to cryptocurrencies over the last five years or so, but in that time there have been hundreds of different ones launched. There was a stage about three years ago (which peaked with the release of dogecoin) in which new cryptocurrencies would be launched every week. The earliest to jump on would rapidly mine and then convert to BTC or LTC or one of the other larger ones once the hype had started and the price had gone up. The prices would soon then crash and the early adopters would move to the next.

    Many of these currencies have now disappeared, others have simply stagnated in value. This is fundamentally because there's nothing wrong with bitcoin to the average user, and objections on ideological grounds are only relevant to small niche groups.

    If you want some specific examples, at one stage or another Ripple, Litecoin and Dogecoin have all been the second largest by market cap. These are what their charts look like:
    Ripple (XRP) price, charts, market cap, and other metrics | CryptoCurrency Market Capitalizations
    Litecoin (LTC) price, charts, market cap, and other metrics | CryptoCurrency Market Capitalizations
    Dogecoin (DOGE) price, charts, market cap, and other metrics | CryptoCurrency Market Capitalizations

    Here's Etherium's: Ethereum (ETH) price, charts, market cap, and other metrics | CryptoCurrency Market Capitalizations

    Notice any similarities? Want to guess what happens next?
     
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  10. Cannon8tor

    Cannon8tor Member

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    Finally, a post that actually addresses my question thanks acmh16!

    As you probably already know the sec blocked a bid to launch a bitcoin etf which resulted in bitcoin prices to drop and allow ethereum to rise see link below.
    SEC Denies Winklevoss Bid to Launch Bitcoin ETFs in Surprise Upset

    Further big companies such as jp Morgan and Microsoft along with two dozen other companies have recently invested in ethereum. This could be an indication that ethereum, unlike its predecessors is in a unique position to challenge bitcoin in the near future and possibly avoid the fate of other cryptocurrencys of the past. See link below.

    Ethereum Soars After JPMorgan, Intel, Microsoft And Others Form Blockchain Alliance | Zero Hedge

    Thoughts?
     
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  11. ACMH16

    ACMH16 Well-Known Member

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    Reread the article - they're not investing in the currency (not that it would mean much if they were). They want to develop a secure version of the source code that they could use internally.

    The SEC decision means nothing. Bitcoin has almost no barriers to entry already - an etf wasn't going to achieve much.

    Another important point from your article, which I hadn't checked but which is something you need to look at with cryotocurrencies: "Bitcoin block rewards halve every 4 years whilst Ethereum releases the same amount of Ether each year ad infinitum". Etherium will never develop a real scarcity and will have continuous inflation forever (albeit at a decreasing rate of inflation). Unless real, underlying demand (not this hype) increases at a faster rate, it will stagnate be lose value

    Go ahead and buy it if you want, but you'll probably lose a lot of your money. A group of corporations saying "we like the framework this is built on and want to recreate that framework for our internal use" is very different from beginning to use the currency
     
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  12. Cannon8tor

    Cannon8tor Member

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    Thanks ACMH16.
     
  13. Cannon8tor

    Cannon8tor Member

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    IMG_1514.PNG I'm just going to leave this here...
     
  14. Simon Hampel

    Simon Hampel Founder Staff Member

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    How much have you bought?
     
  15. Kangabanga

    Kangabanga Well-Known Member

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    IMHO cyrptocurrencies are still a money laundering tool.

    All governments need to retain a level of control and regulation over their currencies, hence bitcoin will probably not become mainstream until it clears the regulation hurdles.

    As you can see the valuation just jumps up and down, so more speculative driven rather than fundamental driven.

    Corporations are actually more interested in the blockchain technology, which enables secure electronic payments and ledgers, which even big enterprise level companies like IBM and SAP is involved in and starting to roll out to its clients. In many cases, there does not need to be a cryptocurrency involved and the technology is there to improve things like supply chain management and financial services.

    Blockchain - Wikipedia
    [
    Blockchains technology can be integrated into multiple areas. This means specific blockchain applications may be a disruptive innovation, because substantially lower-cost solutions can be instantiated, which can disrupt existing business models.[7] Blockchain protocols facilitate businesses to use new methods of processing digital transactions.[67] Examples include a payment system and digital currency, facilitating crowdsales, or implementing prediction markets and generic governance tools.[68] Blockchains are expected to disrupt the cloud computing industry although practical technical issues remain as obstacles.[69]

    Blockchains can be thought of as an automatically notarised ledger. They alleviate the need for a trust service provider and are predicted to result in less capital being tied up in disputes. Blockchains have the potential to reduce systemic risk and financial fraud. They automate processes that were previously time-consuming and done manually, such as the incorporation of businesses.[70] In theory, it would be possible to collect taxes, conduct conveyancing and provide risk management with blockchains.]
     
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  16. The Falcon

    The Falcon Well-Known Member

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    To da moon!
     
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  17. Simon Hampel

    Simon Hampel Founder Staff Member

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    More importantly, the blockchain technology can be cloned - so you don't actually need any of the cryptocurrencies themselves for anything more than trading - and there's questionable value in that when the market fluctuates so much.

    I'm not going to offer to accept payments in a currency which could see me earning 150% of my fee one day and 50% the next.

    Right now, I see crytocurrencies as largely a giant ponzi scheme - those getting in early and then ramping them will make money - the last to get in will lose money.

    Currencies need to be relatively stable for people to be confident in trading large sums of money using them.
     
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  18. Kangabanga

    Kangabanga Well-Known Member

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    Well you could offer payments in bitcoin but have them converted into normal currency at the point of payment which could reduce much of the currency exchange exposure risk in accepting such payments. The problem is I am not sure if any bitcoin exchanges are offering such services. Definitely paypal and the banks are not on board.

    the ironic thing is whilst blockchain offers solutions and improvements to financial services, being secure and supposedly providing tamper proof records, if it does become mainstream some day, it means the governments will be able to track every single transaction!!! Fantastic for honest consumers and for the tax office, but I don't think big corporations with billions of their USD stashed in tax free havens would be that happy lol.
     
  19. Simon Hampel

    Simon Hampel Founder Staff Member

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    Blockchain is just a technology - it's not a product.

    There's nothing stopping the banking industry from developing their own blockchain implementations to facilitate secure transactions within the regulatory framework they already operate under. Big business and govt will use that.

    People wanting to avoid scrutiny will simply use a different blockchain implementation.

    All you need is to build an implementation and then convince people it's safe to use.
     
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  20. Cannon8tor

    Cannon8tor Member

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    I didn't put my house on it but enough the make a very nice return in 8 weeks!
     

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