Ethereum

harmless

bladespin wrote: »

I wouldn't be so cynical tbh, the growth looks unsustainable (and is really), that's mainly investment driven too but as soon as that slows then things will level off, possibly after a small drop - reasoning that most seem to be investing with a longer term view, for many this is still in the early adopter phase (myself included), I don't foresee mass dumps or abandonment at the first signs of slowing.

I'm only cynical at what is happening right now, not the long term. I do think there is an element of greed though, I've been watching a few pump and dumps unfold with tokens. I tried to warn people but very few listened.

What I'm trying to decide is if I stake or sell some and see if I can buy back in at lower price points(I know risky but could work out well)

New uses for crypto continue to be discovered and I have no doubt about the long term, it just seems like we are in a short term bubble.

bladespin

harmless wrote: »

I'm only cynical at what is happening right now, not the long term. I do think there is an element of greed though, I've been watching a few pump and dumps unfold with tokens. I tried to warn people but very few listened.

What I'm trying to decide is if I stake or sell some and see if I can buy back in at lower price points(I know risky but could work out well)

New uses for crypto continue to be discovered and I have no doubt about the long term, it just seems like we are in a short term bubble.

Yes, I can appreciate that, everyone is jumping on the bus which makes for big element of the gambler in there, many thinking thy'll become overnight millionaires (someday), they seem to be prepared for to wait Ether to have it's day though which is good unless they all decide to drop and jump on the next bus, as long as forward momentum is being made I don't see that.

Michael_Res1

In terms of the bull cycle, I think we are firmly in the belief stage. There is still the thrill and euphoria stage to go. Another btc and eth gain of 30 to 40 per cent by the end of the year is good enough for me lol.

HGVRHKYY

harmless wrote: »

I hold ETH and had planned to hold long term.

I don't like what is happening, this growth looks crazy to me. It would make more sense if it was on the back of major announcement from governments or financial institutions. The small number of bonds issued by the European Central Bank is not enough to justify what I am seeing.

I would much rather slow steady growth.

I welcome counter arguments, it's always good to get different perspectives.

If you're planning on holding long-term, what difference does this short-term price action make? Even if it sprints up to $10k in the next few months and crashes, it'll recover and surpass that in the 2024/2025 bull run, which is surely the length of time you'd be holding since you want to hold long-term

You either believe and feel confident in it long-term and can hold through the rollercoaster or you can't, I can't understand nervousness or being overly emotional about it like this tbh

HGVRHKYY

harmless wrote: »

This is true, people are now starting to see the value in the technology.
But there are so many coins that it will just take a few to become unstable to shake confidence.
I predict a massive crash and then which ever coins are the most beneficial will rise from it with some slow steady growth.

Basically a repeat of the .com boom.




Are many DeFi tokens still very vulnerable to pump and dumps?

Until that is addressed I think the growth in DeFi is extremely unstable.

Edit: Also I think a large part of the investment right now are people who have seen some became millionaires from crypto in the past(and some will in the future)
Crypto has a big long term future IMO but what is happening now could be greed driven and that never ends well.

Literally anyone who's been investing in and following crypto for a few years would 'predict' a crash will happen after this bull run, a bull run can't continue indefinitely, so it's even fair to say a lot of us would be expecting a massive crash before this bull run even properly took off. Crypto has proven it works in cycles based around Bitcoin's halvings which occur roughly every 4 years, they've historically occurred 12-18 months after the halvings and the last halving occurred in May 2020 - so here we are

"Basically a repeat of the .com boom"

More like basically a repeat of the previous Bitcoin cycles. The exact same as what's happening now happened in 2017/2018, look at the charts. The S2F model even does a good job of showing how it goes up and down over the years

harmless

Good analysis, I agree.

Thargor

New ATH overnight, heading for 5k now, anything could happen from here tbh.

Refractions

HGVRHKYY wrote: »

If you're planning on holding long-term, what difference does this short-term price action make? Even if it sprints up to $10k in the next few months and crashes, it'll recover and surpass that in the 2024/2025 bull run, which is surely the length of time you'd be holding since you want to hold long-term

You either believe and feel confident in it long-term and can hold through the rollercoaster or you can't, I can't understand nervousness or being overly emotional about it like this tbh

Absolutely no guarantee of this, especially with ETH which is heavily reliant on 2.0 promises. If that doesn't go to plan, ETH is wide open to competition.

TheValeyard

Wow, the gas fees have dramatically increased.

HGVRHKYY

Refractions wrote: »

Absolutely no guarantee of this, especially with ETH which is heavily reliant on 2.0 promises. If that doesn't go to plan, ETH is wide open to competition.

There's no guarantee on anything in this industry, but it's still highly unlikely that 2.0 won't be well implemented and operating by 2024/2025, even if it is delayed in 2021/2022. There's too much at stake for them to not ensure they launch it smoothly, and they are progressively making updates with a clear defined path to it

Either way I think it's still wide open to competition, you already have DOT with a growing ecosystem and ADA will have picked up steam by 2024 as well, but I'm still mostly betting on ETHs already massive ecosystem still growing quicker than the others

antimatterx

TheValeyard wrote: »

Wow, the gas fees have dramatically increased.

$68.30, **** me. They were $11 around a month ago.

TheValeyard

antimatterx wrote: »

$68.30, **** me. They were $11 around a month ago.

Yeah, kinda makes it near impossible to shift.

harmless

TheValeyard wrote: »

Yeah, kinda makes it near impossible to shift.

You can save a little selecting your own gas fee using a gas price tracker. just don't go too low.


https://ethgasstation.info/

TheValeyard

harmless wrote: »

You can save a little selecting your own gas fee using a gas price tracker. just don't go too low.


https://ethgasstation.info/

Very useful, thank you.

siochain

big drops, whats up?

Father Hernandez

siochain wrote: »

big drops, whats up?

I'd imagine Elon Musk's tweet about bitcoin affected the whole market.

Good time to buy. Flash sale.

Potatoeman

siochain wrote: »

big drops, whats up?

Could just be a market correction, see what bounces back and what stalls.

Michael_Res1

HGVRHKYY wrote: »

There's no guarantee on anything in this industry, but it's still highly unlikely that 2.0 won't be well implemented and operating by 2024/2025, even if it is delayed in 2021/2022. There's too much at stake for them to not ensure they launch it smoothly, and they are progressively making updates with a clear defined path to it

Either way I think it's still wide open to competition, you already have DOT with a growing ecosystem and ADA will have picked up steam by 2024 as well, but I'm still mostly betting on ETHs already massive ecosystem still growing quicker than the others

Seriously is there a top 100 coin on the ada ecosystem. I'd much prefare dot's chances with Gavin woods leadership.

Thargor

Ugh, knew it had to happen but it always hurts.

harmless

Ahhh gas fees halved, stupid corrupt meme coins tanking and India helped with COVID.
Fantastic move by Buterin

Icyseanfitz

Probably a good time to buy I'm guessing, unless of course it keeps dropping in value

HGVRHKYY

Icyseanfitz wrote: »

Probably a good time to buy I'm guessing, unless of course it keeps dropping in value

Dollar cost averaging is the way to go

SkyRevNet

I bought ETH on Binance a while back and I pretty muched staked it immediately. I'm now sitting on the BETH tokens I received when staking the ETH

How do I sell these? Before I staked, I noticed that the small print said I could sell them. I assumed i'd sell them much the same way I sell my other holdings, but I don't seem to have the option.

el diablo

SkyRevNet wrote: »

I bought ETH on Binance a while back and I pretty muched staked it immediately. I'm now sitting on the BETH tokens I received when staking the ETH

How do I sell these? Before I staked, I noticed that the small print said I could sell them. I assumed i'd sell them much the same way I sell my other holdings, but I don't seem to have the option.

Not sure. Is there an option to convert BETH to ETH?

Stop touching yourself

SkyRevNet wrote: »

I bought ETH on Binance a while back and I pretty muched staked it immediately. I'm now sitting on the BETH tokens I received when staking the ETH

How do I sell these? Before I staked, I noticed that the small print said I could sell them. I assumed i'd sell them much the same way I sell my other holdings, but I don't seem to have the option.

How does this work exactly? Do you need to buy back your staked ETH afterwards using BETH again?

I'm interested to hear what you can do with the BETH tokens in the meantime

grindle

SkyRevNet wrote: »

I'm now sitting on the BETH tokens I received when staking the ETH

How do I sell these?

el diablo wrote: »

Not sure. Is there an option to convert BETH to ETH?

https://www.binance.com/en/trade/BETH_ETH?type=spot

Seems like it might be easy to cheese that ratio in trades, it fluctuates by 1% every few hours. There are small buy and sell walls indicating some folks are doing just that.

Irish94

I've purchased Ethereum on Binance. I have a friend telling me to transfer it to Trust Wallet as it will be more 'secure' then. Is there any truth to this, or should I be okay leaving it with Binance?

JibJabWibWab

Irish94 wrote: »

I've purchased Ethereum on Binance. I have a friend telling me to transfer it to Trust Wallet as it will be more 'secure' then. Is there any truth to this, or should I be okay leaving it with Binance?

Trust wallet is buggy. Metamask is a better option, IMO.

el diablo

JibJabWibWab wrote: »

Trust wallet is buggy. Metamask is a better option, IMO.

I certainly wouldn't trust Metamask for long term storage of any crypto (unless it's backed up by a hardware wallet). Exodus wallet, Enjin wallet etc would be safer options.

djan

el diablo wrote: »

I certainly wouldn't trust Metamask for long term storage of any crypto (unless it's backed up by a hardware wallet). Exodus wallet, Enjin wallet etc would be safer options.

What's your reason for such?

el diablo

djan wrote: »

What's your reason for such?

Metamask's security is pretty decent but it's only as good as your own online security. I don't really trust any wallets (for long-term storage) that are connected to my browser.

Icyseanfitz

My ethereum value is dying right now here's hoping it turns around again

Thargor

Owww we're bleeding.

harmless

Stupidly high spike in one month and interference from people with large social media followings convinced me to sell 75% of my eth at $4100. (I plan to buy back in when things calm down)

But there are often bumps on the way to a new ATH, so lets see how this plays out.

iAcesHigh

what's the plan on timing the move to proof of stake?

Seurat

iAcesHigh wrote: »

what's the plan on timing the move to proof of stake?

1559 at very latest before end of August
The merge at latest end q1 2022 (vitalik said last week q4 20 seems to be what most devs are saying tho)

Fly to live
Aces high!!!
🤘

Thargor

This is absolutely brutal, didn't even sell my trading stack it happened so fast.

harmless

Looks like I'll be buying back in faster than I expected.

fritzelly

Just checked, what the hell happened

Rob2D

fritzelly wrote: »

Just checked, what the hell happened

CRYPTO happened :pac: Don't worry about it.

fritzelly

Rob2D wrote: »

CRYPTO happened :pac: Don't worry about it.

CCP - great bunch of lads

harmless

ETH is at a much higher price than 1 month ago!

HGVRHKYY

harmless wrote: »

ETH is at a much higher price than 1 month ago!

Yeah I'm disappointed it didn't dip lower and stay there a bit longer

mcriot29

HGVRHKYY wrote: »

Yeah I'm disappointed it didn't dip lower and stay there a bit longer

Do you think it will stay low for the next few days or weeks

masterboy123

Any hope to recover over €3000 again?

Rob2D wrote: »

CRYPTO happened :pac: Don't worry about it.

grindle

masterboy123 wrote: »

Any hope to recover over €3000 again?

Everybody except a BTC maximalist or a nocoiner would expect it, the majority of the industry revolves around it. Doesn't mean it won't drop to $1k first though.

Thargor

Fcuk it anyway I left a lot of paper gains on the table this time, ah well, still in profit, see you back here for the next round of ATHs, I intend having a much bigger stack when that happens.

Michael_Res1

todays drop is the perfect set up for the flippening. Yes eth will over take BTC. The whales have set it up and are adjusting their portfolios in advance of the switch to proof of stake.

jmlad2020

Michael_Res1 wrote: »

todays drop is the perfect set up for the flippening. Yes eth will over take BTC. The whales have set it up and are adjusting their portfolios in advance of the switch to proof of stake.

Maybe. But I still expect BTC to be king for the next few months.

mcriot29

jmlad2020 wrote: »

Maybe. But I still expect BTC to be king for the next few months.

Eth will make far more gains in the next few years then bitcoin I feel also feel ada will do good.
All my money is going into Ada and Eth
I have no bitcoin only because there is more profit in eth and ada.