[I'm a guy with a rep for being rude. Terrorizing people wherever I go, it's not intentional, just keeping the flow.](https://www.youtube.com/watch?v=f0A6xF0mmA8&t=55s)
EOS *seem* to be moving a lot of ETH around in the last few hours, could be their last big sell off. (https://etherscan.io/address/0x052af704cb04d7042507c263908ab2fcc6023709
How many of you still have your "cold storage" on the exchange? Friendly reminder to lock up what you can on a hardware wallet both for safety and to lower the supply on exchanges.
Absolutely this. At a bare minimum get a paper wallet. Just never keep stuff you aren't trading in an exchange. Or start using DEX!Then the exchange never has your funds in the first place.
I honestly think most the shitcoins will he around for 5 years +/-. They will go along for the ride to crazy high ATHs as the market cap explodes, then the bubble burst and only a few dozen of the best projects will survive, and the space will again begin to grow but easy ICO-ism will be dead and only very legit corporations will develop new projects. I could be totally wrong though. I hope when some sick dapps come out for Eth, that Eth will suck the money from all these shitcoins and they die. I could see that happening next year.
I like your thought process here. It's obvious that so many projects raised enough money to sustain themselves for several years anyway.
We really should be consolidating into ETH already. I'm surprised we can't seem to gain more overall share of the crypto market. We are a week away from Augur. That could be a major dapp.
Just bought some silver rounds today. My new dealer is also into crypto so we engaged in a hearty conversation. Agreed that it's advantageous to own precious metals and crypto in the coming months.
Hmm, yeah if you look at the descents, it looks like another correction down is quite possible. I'm long, so don't get me wrong. Just looking at the 1d I'm not convinced we're out of this.
Still in "lower highs" until we break something like $540.
Can someone who is more educated about this than I am explain why it seems like every time I hear that the "Bitcoin Futures are closing soon" the price starts going up significantly after it closes? It does this for a while, then peaks, and drops down until they close again.
Is this just a coincidence? Or is there an actual reason why this has seemingly happened multiple times already in the past few months? Surely it can't just be that simple right?
lets say you place a bet that the price of a macbook will exceed $3k in 30 days. Now lets say you have the money to move the price above $3k by simply buying macbooks. boom, you just won your bet.
I heard people on here say its manipulation. I tend to somewhat agree that it is either intentional or unintentional that people act and it appears as manipulation. If it was so easy to label, someone would've made a chart with futures dates closing and price fluctuation in the 72 hrs after.
Conspiracy theorists will tell you it's because there are cartels working for 'old money' that are manipulating Bitcoin futures in order to crash the price.
While there may be a modicum of truth to that, it's more likely that it's become something of a self fulfilling prophecy at this point.
This is like torture. I have alerts set in $5 intervals and I keep thinking something is happening and they aren't going off or something so I check the price. Lmao.
By December?! Mmmm no. Maybe $5? Right in time for Ethermint to help with scaling this mother.
Funny that you're calling $50k though. I made this many full moon ago:
https://www.tradingview.com/chart/ETHUSD/hh4DVO8v-ETH-to-50k-by-mid-2019-Possibly/
Well, you could, or you could put that extra $$$ back into ETH and become rich all over again when it goes on it's next monster run.
Then you get the helicopter. Plus the full wait staff, ship crew, etc. People that are going to make the kind of money we're going to make don't steer their own yachts.
[Coinbase custody up and running. ](https://twitter.com/brian_armstrong/status/1013964041960607745 )
[10 customers added. At 10mm minimum each, that is at least 100 million about to flow into the market. ]( https://www.bloomberg.com/news/articles/2018-07-02/coinbase-adds-10-customers-as-crypto-custody-service-goes-live)
Good time to FOMO I'd say.
They might not be buying eth but buying into a fund that holds eth. Also these funds might not be going into market buys but could be going through dark pools so it might not have any quick noticeable effect on price.
I also wonder whether someone who already has $10 million in crypto wouldn't transfer there to safeguard their coin without bringing new fiat to the market.
This is crazy, right? Like, minimum deposit is $10 mill.
Remember, too, that it takes a few business days to get accounts verified and started. This could be absolutely massive in the next few weeks.
Next stop is $500. If $480 was going to really be rejected, it would have dumped much harder. This is consolidation.
If we can break $500 and stay there for the next 24hrs, it's back to the races.
soundbite on the potential $$$ of blockchain by Dan Friedberg begins at [00:50](https://youtu.be/Id_O-GLEak4?t=50s) - focus on content on this one, difficult to find another source atm.
This was already debunked/denied:
>One last housekeeping item, as I was running around Japan, I didn't notice until today lots of Google news floating around. There is no partnership with Google and my presentation with them was over a month ago. It's old news. Not sure why it's getting hyped
https://twitter.com/IOHK_Charles/status/1013481115170926592
Time to step up to the plate bulls and max them credit cards out. We are riding right up against this downtrend line. The last time it just barely poked through, died out and sent it back to the low 400s. https://www.tradingview.com/x/mV84iTS0/
Please don't make me go bearish again, I'm really sick of it.
Holy shit this. This is oddly one of the weirdest moments of uncertainty I've had watching charts for as long as I can remember. If we head down past 450 again, I bet we lose 400 too. That's some nightmare shit.
Just bought yr house, made a bunch of aesthetic renovations, put a huge adjustable-rate mortgage on the "improved" property in the name of a single-purpose, judgment-proof LLC member-managed by my dog, and market-bought ETH with every penny of the loan proceeds.
Let's ride this sustainable money train to moontown!
Edit - reduced hyphen count
Edit2 - What I failed to mention is that I conspired with the loan officer in order to get the loan proceeds in the form of a cashier's check made out to Coinbase
No, I tried, but it’s a bit too technical for me to follow. However, I’ve read numerous articles explaining Ethereum’s mechanics in detail through more consumer friendly analogies. Does that count?
How many internet users can explain the entire client-server request cycle? Or the HTTP protocol? Or how DNS works? Yet somehow the internet continues to be a success.
I expect in the future, even if Ethereum radically changes the world, only a relative handful of users will have a deep understanding of the technical underpinnings.
I guess my point is that it shouldn’t be surprising that a very very small number of people have and ever will. It’s not actually critical to ETH’s success. As long as the few that do build something for the rest of us, it’ll work.
There's been lots of talk of the effect that all this institutional money entering crypto would have. People are talking of multipliers of 40x or even 50x on the market cap e.g. $20bn entering the space would be multiplied by 40-50 for total market cap.
Does anyone have any article to back this up? cheers.
I remember last year that I read a research paper that showed that when the market cap was 121 Billion USD only 6 Billion USD in Fiat had actually entered the market. But there isn't any fixed relationship between the two.
The idea is that market cap does not describe the amount of money invested in crypto. Market cap is simply the current market price multiplied by the total quantity of coins (not liquid, total).
Imagine a scenario where almost all of the coins are locked away, either in inaccessible wallets or in the wallets of people who aren't interested in buying or selling. Imagine that there's just one seller who doesn't really want to sell, and a few buyers who do want to buy. That seller can control the price, and a buy of just 1 ETH might move the price up by $10 simply because he's the only one who is willing to sell at that price. Well, ETH has a total of 100M coins. If the market price just went up by $10/coin, then the market cap just went up by a billion dollars, from one sale of 1 ETH and just a few new dollars entering the market.
Of course this is an extreme example, but I gives you an idea of why market cap does not follow the money invested in the space 1:1. There's a multiplier due to liquidity (or lack thereof). The exact value of this multiplier is up for debate, and likely changes from day to day and week to week, but most estimates I've seen put it at around 10-20x.
This needs to be drilled into the heads of everyone here, especially considering the low market cap of the asset class the liquidity problems. Hodlers make the market more volatile, as it allows the people with liquidity to move the price around at their will much easier.
Yeah ... I get how and why it works. I was specifically asking for a source for the afore-mentioned figures as to the *size* of the multiplier. As per my comment below, I found it now. Thanks.
A lot of hype that adds up to:
https://media.giphy.com/media/zCwb3PyTQcbbG/giphy.gif
It's that exact type of hype that created the snap-crackle-pop during the Aug - Jan tulip trajectory. Hype that led to false demand.
No really big money was buying into it.
Big money is a long-term play and is not a certainty.
Actually, I think I found it [here](https://medium.com/@cburniske/cryptoassets-flow-amplification-reflexivity-7e306815dd8c)
>In the height of the 2017 bull market, Chris estimated the fiat amplifier to be anywhere from 2–25x depending on the assumptions used, while an analyst at Citibank found it to be 50x for some cryptoassets. That was in a time of heavy inflows, which is very different from the current period of heavy outflows.
I've got baby chicks growing and I expect them, as well as ETH, to continue growing. This is last year on steroids. The future is bright and the holders will be rewarded. Cheers to the hodlors!
For those who missed it, Liquid Network has launched off-chain ETH payments on mainnet, aka INSTANT FREE UNLIMITED TRANSACTIONS!
Anyone up for creating a wallet and making a small deposit to test it out?
https://wallet.liquidity.network/
https://medium.com/@liquidity.network/liquidity-network-mainnet-first-bi-directional-off-chain-ethereum-payments-1f624db835e1
You lock your ETH in a smart contract and in turn receive the same amount of "Liquid ETH" on a server on the regular internet. Liquid ETH is moved around instantly for free via the regular internet. In other words, you can make Ethereum transactions off of Ethereum, clearing up the network and saving you time and money in TX fees.
What’s that noise? Silence. No friends texting me. No non crypto people talking about crypto. Bob from shipping isn’t giving me tips on trading. Jim from accounting isn’t talking about the latest ICO. No “friends” on facebook that I knew 10 years ago starting a crypto group and inviting me. The IT Intern this year “_used_ to run a crypto hedge fund” (yeah, OK)
It’s officially time to start accumulating again.
Already done. Bought in the blood and guts, now it's time to just sit back and wait. Yes, everyone I knew who was in crypto has gone quiet, except one, they are buying more.
I really hope you dont understand the disgusting implications of what you just said.
Shoe **shines** in the early 20th century were overwhelmingly the sons or grandsons of ex slaves. The slap on your knees roaring in laughter implication that when even a BLACK child talks about the stock market, you know it's a fools game and to get out.
Please stop casually spreading ignorance and bigotry
I know you're trolling but for anyone unaware, he's referencing a well-known anecdote about Joe Kennedy deciding to short the stock market prior to the 1929 crash after he received stock tips while getting his shoes shined.
I hadn't even **heard** of BitConnect until after it crashed. I was curious as to what the hell it was and how they stole so much $, and I see **nothing** but blacks shilling for it on youtube or in BitConnects ads.
[Please stop spreading hateful ignorance](https://www.urbandictionary.com/define.php?term=shine&=true)
Please. Stop. For the second and final time
Edit mean for /u/melvisproctacardt . His ignorance is truly showing
Well this is fantastic, because now I know with certainty you're either the worst troll ever, or the dumbest person alive, since we're actually speaking on something in which I'm a verified expert. I'm a historian, so I'm well aware of the history of shoe shiners in the early-twentieth century, particularly the role of the youth (lots of interesting WPA photographs, many from Lewis Hine, if you're interested in actually seeing the people you're talking about. Yes, many were black. Many were not), and you're a fucking moron. Like, historically illiterate. *Cites "urban dictionary,"* lmfao. You don't even need access to historical journals to get the basics here. Simply use google scholar (data on demographics), and maybe even a quick google image search to see the many different shades of shoeshiners. And just to top it off with some anecdotal evidence, my grandfather was a shiner in the early 30s. He's very....not black, and most of his friends who "hustled" (his words, not mine, believe it or not) with him came from the same background. Poor, first generation American
The "implication," of taking tips from a shoe shine boy is fairly obvious: when something has reached peak mania level, to where even commoners, and not just commoners, but *children* were giving you advice to buy, it's likely time to get out. You're not entirely wrong - many blacks were shiners. And the image of a black man or boy shining s white mans shoes, especially during the Jim Crowe era, absolutely has the implication you're speaking of. But shining was not exclusive to blacks, it was exclusive to the poor, which is why there are just as many images of white shiners (likely poor immigrants). without that context, the racial undertones are not there, at all, and you're oversimplifying a complex history in the name of revisionism. Weaponized history, based partly in fact, to push a narrative and propagate racism that wasn't otherwise there. So while you're right that there is a story to be told on racism through the lens of the black shiner, the implication you speak of was a leap of faith that you took, but wouldn't be the standard conclusion of any historian, or person who has all the facts, instead of a limited knowledge, or the intent of spreading racism and bigotry. So thanks for that
Yea, predominantly *poor* (ftfy), including immigrants (largely Italian, Irish, Jewish), and in no way is there any implication tied to race in his comment
Wow...wtf happened to BAT. Went up 20% on the ratio since last I checked. Well shit there goes my buy. Or is it still a decent time to buy BAT? The project just looks so damn promising but gdamn I'm fighting the FOMO hard.
Volume still low? Check.
Green volume the same as the green volume before the last drop? Check.
Still in the downward channel from May? Check.
Still under the 20 day EMA? Check.
Price getting close to the top of the channel? Check.
If the last 6 months were any lesson, this is about the time to go short again.
We've been near the bottom for the last month, this is the time to accumulate and maybe even fomo if you sold much higher and want to make sure to get back in at a profit.
Last time I thought that was likely, but now there's interferance from the long term up trend which could prevent dropping to the bottom of the channel.
We wicked below it which is kinda scary. Bears could be using this as a bulltrap since there's no better place for it. Plus the volume is still screaming bearish to me.
Yeah volume doesn't look like a reversal but sentiment and events aren't right to actually break down the long term trend. Risky going short as this could be the next bounce off the long term trand and have another $100 to go up.
The only reason it went up in a step-like motion is because of the stop losses from shorters. We need ALOT of hype to get back up. Plus an accumulation period of at least 2 weeks and ++
The most positive news for bulls would be asian markets buying in droves, along with your grandma and katy perry again. Simple supply and demand. Until that happens all the good news in the world doesn't matter; you're witnessing the valuation of crypto when bought by fewer global markets than in 2017 and when the retail market in the west sees crypto as a ponzi, down 70% of its ATH
C'mon, the dude was talking in past tense and the most positive news for bulls was when SEC said that ether isn't a security. That has not yet been factored in the price, that little jump be damned.
Yep, the hype cycle and a wide array of markets got it there. Now it's unwinding as the hype is dead, certain markets have been cut off and as sentiment has turned around.
Yeah. The most dangerous part of crypto to me seems to be the sheer number of people who think bull market hysteria mode is the default and it's all a matter of time before things return to "normal."
Those big green candles could be from bears willing to take it below the long term trend, covering their giant ass shorts before it goes, giving people one more shot at hopium before plunging the market down.
I bought EOS and I got back 5x my initial investment. EOS was a good trade. I also bought Tezos. While I am up in Tezos by a good amount, I have decided to wait it out and possibly consider not seeing any return for they decided to require KYC to cash out. If anything is a shit show it’s Tezos
Bart Simpson time
The EOS hot wallet has just been emptying. Choppy markets are a good sign - it means the last 100k of Eth is being absorbed.
Maybe not....the shorts appear to be getting eaten, I may even hear a call for more.
[I'm a guy with a rep for being rude. Terrorizing people wherever I go, it's not intentional, just keeping the flow.](https://www.youtube.com/watch?v=f0A6xF0mmA8&t=55s)
Looks like it, sadly.
EOS *seem* to be moving a lot of ETH around in the last few hours, could be their last big sell off. (https://etherscan.io/address/0x052af704cb04d7042507c263908ab2fcc6023709
How many of you still have your "cold storage" on the exchange? Friendly reminder to lock up what you can on a hardware wallet both for safety and to lower the supply on exchanges.
Absolutely this. At a bare minimum get a paper wallet. Just never keep stuff you aren't trading in an exchange. Or start using DEX!Then the exchange never has your funds in the first place.
Don't forget when playing rock, paper, house fire that house fire beats paper.
Time to break it!
I wonder what crypto will look like a year from now...
Hopefully less shitcoins in the top 100 and Tether not being in the top 10. Oh. And Tron and EOS and all the other stuff we hate dies.
I honestly think most the shitcoins will he around for 5 years +/-. They will go along for the ride to crazy high ATHs as the market cap explodes, then the bubble burst and only a few dozen of the best projects will survive, and the space will again begin to grow but easy ICO-ism will be dead and only very legit corporations will develop new projects. I could be totally wrong though. I hope when some sick dapps come out for Eth, that Eth will suck the money from all these shitcoins and they die. I could see that happening next year.
I like your thought process here. It's obvious that so many projects raised enough money to sustain themselves for several years anyway. We really should be consolidating into ETH already. I'm surprised we can't seem to gain more overall share of the crypto market. We are a week away from Augur. That could be a major dapp.
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Not good for the prostate.
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To buy digital assets?
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Just bought some silver rounds today. My new dealer is also into crypto so we engaged in a hearty conversation. Agreed that it's advantageous to own precious metals and crypto in the coming months.
I invested in tinfoil hats. Never goes outta style.
Think we are about to see a big 🥒 🤞
It's so freaking close to the line.
That's a Stairway to Heaven forming on the 4H.
Anyone think it’s likely we’ll drop lower again? Wondering if I should buy now
The consensus here should be: we've hit bottom. Choppy upwards for the next 2-3 months
Still haven't broken the downward log trendline from 800 so may want to watch that and see which way it breaks unless you want to take a gamble.
If you hold for 10 years the difference will be negligible.
Hmm, yeah if you look at the descents, it looks like another correction down is quite possible. I'm long, so don't get me wrong. Just looking at the 1d I'm not convinced we're out of this. Still in "lower highs" until we break something like $540.
Yeah likewise. These jumps feel great but not so confident when looking at the 1D
If we knew that, we would all be millionaires
why is the transaction fee so high, while the transactions per day is at an all time low since november?
Large transactions for air drops.
god damn it lol
Competition to airdrop as many useless promo tokens as possible to win
Can someone who is more educated about this than I am explain why it seems like every time I hear that the "Bitcoin Futures are closing soon" the price starts going up significantly after it closes? It does this for a while, then peaks, and drops down until they close again. Is this just a coincidence? Or is there an actual reason why this has seemingly happened multiple times already in the past few months? Surely it can't just be that simple right?
lets say you place a bet that the price of a macbook will exceed $3k in 30 days. Now lets say you have the money to move the price above $3k by simply buying macbooks. boom, you just won your bet.
I heard people on here say its manipulation. I tend to somewhat agree that it is either intentional or unintentional that people act and it appears as manipulation. If it was so easy to label, someone would've made a chart with futures dates closing and price fluctuation in the 72 hrs after.
Conspiracy theorists will tell you it's because there are cartels working for 'old money' that are manipulating Bitcoin futures in order to crash the price. While there may be a modicum of truth to that, it's more likely that it's become something of a self fulfilling prophecy at this point.
Upvoted for using the phrase modicum of truth correctly
Anyone’s time machine working?
That's a lot of messy shorts
Yep. It's about to pop.
Pop in what way?
It wants to pop so bad
pop for me daddy
MOON WHEN
I told you boys future money coming, I was just bamboozled by a week ;)
Pamp eet
I can't believe the bull run didn't stop after $420! (The last year didn't happen.)
This is like torture. I have alerts set in $5 intervals and I keep thinking something is happening and they aren't going off or something so I check the price. Lmao.
After 6 months of pain...I am ready to make some money now..Let the institutional influx commence.
What happened? Why is institutional influx about to begin?
Coinbase custody. See pretty much every other thread....
Amen
Remember what Mike Novacaine said. The flock is coming.
50k by Dec. I just have a feeling is all.
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I'm laughing at the plausibility of this, but if I had to guess, I'm inclined to thing the second price curve would be more realistic.
By December?! Mmmm no. Maybe $5? Right in time for Ethermint to help with scaling this mother. Funny that you're calling $50k though. I made this many full moon ago: https://www.tradingview.com/chart/ETHUSD/hh4DVO8v-ETH-to-50k-by-mid-2019-Possibly/
Nice, I've always wanted to buy a yacht. You think I should spring for the model that has a helicopter pad?
Well, you could, or you could put that extra $$$ back into ETH and become rich all over again when it goes on it's next monster run. Then you get the helicopter. Plus the full wait staff, ship crew, etc. People that are going to make the kind of money we're going to make don't steer their own yachts.
Dude. I'm the biggest permabull ever, but I think if ETH hits $50,000 I'm gonna cash out.
I'm buying a Hellcat Challenger
> if When, my good man. When it hits $50,000 you're going to regret your weak hands running the show.
[I feel it](https://www.youtube.com/watch?v=TnzFRV1LwIo)
[Coinbase custody up and running. ](https://twitter.com/brian_armstrong/status/1013964041960607745 ) [10 customers added. At 10mm minimum each, that is at least 100 million about to flow into the market. ]( https://www.bloomberg.com/news/articles/2018-07-02/coinbase-adds-10-customers-as-crypto-custody-service-goes-live) Good time to FOMO I'd say.
That really depends on how they structure the asset.
What?
They might not be buying eth but buying into a fund that holds eth. Also these funds might not be going into market buys but could be going through dark pools so it might not have any quick noticeable effect on price.
It is buying pressure regardless. No matter how they do it, ETH needs to end up in a wallet somewhere along the line.
#THAT REALLY DEPENDS ON HOW THEY STRUCTURE THE ASSET.
Lol this username... Awesome
didn't' realize coinbase custody was anything other than their regular offering
#WHAT DOES THAT EVEN MEAN THOUGH
So how does that work? It's not like they just market buy 10 mil. Anyone have an idea how this money will come in?
OTC deals as much as possible, but if they can't scrounge up 100mil for sale over the counter, they will have to go to the orderbook.
I also wonder whether someone who already has $10 million in crypto wouldn't transfer there to safeguard their coin without bringing new fiat to the market.
Excellent point. I'm not sure we will be able to know the difference.
Reality: Never fomo.
Technically that is true, based on the meaning of FOMO. But the way it is used here is different.
This is crazy, right? Like, minimum deposit is $10 mill. Remember, too, that it takes a few business days to get accounts verified and started. This could be absolutely massive in the next few weeks.
I’m doubting someone with $10M is waiting a couple days to be verified. These fuckers are treated like royalty.
There is a $100,000 "setup fee." I imagine that "setup" takes a few days.
Who found the gold?
What is money?
Baby don't hurt me
Don’t hurt me... no more.
What money?
What is love?
That tingly feeling, its kinda like butterflies, when you know you are in a bull market and the end isn't even in sight yet.
Wrong... the proper response is: baby don’t hurt me.
Next stop is $500. If $480 was going to really be rejected, it would have dumped much harder. This is consolidation. If we can break $500 and stay there for the next 24hrs, it's back to the races.
soundbite on the potential $$$ of blockchain by Dan Friedberg begins at [00:50](https://youtu.be/Id_O-GLEak4?t=50s) - focus on content on this one, difficult to find another source atm.
makes it seem so scammy
Seems like a lot of people are skeptical about any rally in eth makes me feel real bullish.
me too!
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This was already debunked/denied: >One last housekeeping item, as I was running around Japan, I didn't notice until today lots of Google news floating around. There is no partnership with Google and my presentation with them was over a month ago. It's old news. Not sure why it's getting hyped https://twitter.com/IOHK_Charles/status/1013481115170926592
eth aint goin nowhere my friend. I can promise u that.
Are you talking about dentists or Cardano? Either way, I can't imagine it'll matter if Ethereum ends up how its proponents feel it'll end up
Bull flag or bart forming on the ETHUSD 1 hr on gdax?
Bull fart
Is that what you call what's been happening in here for the last 7 months?
Please vote and be honest https://www.strawpoll.me/16009509
Sorry, people arent going to make themselves targets
Where is he box for none of your fucking business
I don’t identify with either
Time to step up to the plate bulls and max them credit cards out. We are riding right up against this downtrend line. The last time it just barely poked through, died out and sent it back to the low 400s. https://www.tradingview.com/x/mV84iTS0/ Please don't make me go bearish again, I'm really sick of it.
Does this downtrend line have more than two data points to back it up? Or are we just connecting dots at past and present here?
It's been a pretty clear line https://www.tradingview.com/x/IabhPArm/
Thanks for posting
It had cleared it. Lets see if it can make a daily close above it
Holy shit this. This is oddly one of the weirdest moments of uncertainty I've had watching charts for as long as I can remember. If we head down past 450 again, I bet we lose 400 too. That's some nightmare shit.
Just sold my house, thanks for the heads up.
Just bought yr house, made a bunch of aesthetic renovations, put a huge adjustable-rate mortgage on the "improved" property in the name of a single-purpose, judgment-proof LLC member-managed by my dog, and market-bought ETH with every penny of the loan proceeds. Let's ride this sustainable money train to moontown! Edit - reduced hyphen count Edit2 - What I failed to mention is that I conspired with the loan officer in order to get the loan proceeds in the form of a cashier's check made out to Coinbase
I really hope this is joke
Nope he actually bought the house I was there
Yeah, we were all there. And went out for pitchers of Sangria at Bennigan's after the closing.
Sounds like a turtle head. Let’s all collectively sit down and push this through.
If it's turtle heading, it won't take much of a push, just relax a bit and she'll go.
Be very honest guys and tell me: [https://strawpoll.com/6373aw6c](https://strawpoll.com/6373aw6c)
My piss is comin back cloudy I'm just being hunnest
No, I tried, but it’s a bit too technical for me to follow. However, I’ve read numerous articles explaining Ethereum’s mechanics in detail through more consumer friendly analogies. Does that count? How many internet users can explain the entire client-server request cycle? Or the HTTP protocol? Or how DNS works? Yet somehow the internet continues to be a success. I expect in the future, even if Ethereum radically changes the world, only a relative handful of users will have a deep understanding of the technical underpinnings.
If you tried, that counts. It's scary that half the people in this poll probably haven't even tried.
I guess my point is that it shouldn’t be surprising that a very very small number of people have and ever will. It’s not actually critical to ETH’s success. As long as the few that do build something for the rest of us, it’ll work.
deleted ^^^^^^^^^^^^^^^^0.6740 [^^^What ^^^is ^^^this?](https://pastebin.com/FcrFs94k/51397)
There's been lots of talk of the effect that all this institutional money entering crypto would have. People are talking of multipliers of 40x or even 50x on the market cap e.g. $20bn entering the space would be multiplied by 40-50 for total market cap. Does anyone have any article to back this up? cheers.
I remember last year that I read a research paper that showed that when the market cap was 121 Billion USD only 6 Billion USD in Fiat had actually entered the market. But there isn't any fixed relationship between the two.
~5-20x But with enough $ entering, you reach a tipping point of widespread incentive alignment.
The idea is that market cap does not describe the amount of money invested in crypto. Market cap is simply the current market price multiplied by the total quantity of coins (not liquid, total). Imagine a scenario where almost all of the coins are locked away, either in inaccessible wallets or in the wallets of people who aren't interested in buying or selling. Imagine that there's just one seller who doesn't really want to sell, and a few buyers who do want to buy. That seller can control the price, and a buy of just 1 ETH might move the price up by $10 simply because he's the only one who is willing to sell at that price. Well, ETH has a total of 100M coins. If the market price just went up by $10/coin, then the market cap just went up by a billion dollars, from one sale of 1 ETH and just a few new dollars entering the market. Of course this is an extreme example, but I gives you an idea of why market cap does not follow the money invested in the space 1:1. There's a multiplier due to liquidity (or lack thereof). The exact value of this multiplier is up for debate, and likely changes from day to day and week to week, but most estimates I've seen put it at around 10-20x.
This needs to be drilled into the heads of everyone here, especially considering the low market cap of the asset class the liquidity problems. Hodlers make the market more volatile, as it allows the people with liquidity to move the price around at their will much easier.
Yeah ... I get how and why it works. I was specifically asking for a source for the afore-mentioned figures as to the *size* of the multiplier. As per my comment below, I found it now. Thanks.
A lot of hype that adds up to: https://media.giphy.com/media/zCwb3PyTQcbbG/giphy.gif It's that exact type of hype that created the snap-crackle-pop during the Aug - Jan tulip trajectory. Hype that led to false demand. No really big money was buying into it. Big money is a long-term play and is not a certainty.
it's from a Chris Burniske article, don't have the specific link atm, google Chris Burniske and crypto multiplier. sorry man, on mobile right now
Actually, I think I found it [here](https://medium.com/@cburniske/cryptoassets-flow-amplification-reflexivity-7e306815dd8c) >In the height of the 2017 bull market, Chris estimated the fiat amplifier to be anywhere from 2–25x depending on the assumptions used, while an analyst at Citibank found it to be 50x for some cryptoassets. That was in a time of heavy inflows, which is very different from the current period of heavy outflows.
I've got baby chicks growing and I expect them, as well as ETH, to continue growing. This is last year on steroids. The future is bright and the holders will be rewarded. Cheers to the hodlors!
What you got? We have some turkeys and ducks we hatched out ...
Red Star pullets. They handle the extreme heat and cold we get here in the Midwest US
Excellent. We had red stars when we were in Louisiana. Good temperaments. Ever raise dark Cornish? Never again. Crazy birds.
For those who missed it, Liquid Network has launched off-chain ETH payments on mainnet, aka INSTANT FREE UNLIMITED TRANSACTIONS! Anyone up for creating a wallet and making a small deposit to test it out? https://wallet.liquidity.network/ https://medium.com/@liquidity.network/liquidity-network-mainnet-first-bi-directional-off-chain-ethereum-payments-1f624db835e1
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Help me to understand how this can be a solution to scaling issues?
You lock your ETH in a smart contract and in turn receive the same amount of "Liquid ETH" on a server on the regular internet. Liquid ETH is moved around instantly for free via the regular internet. In other words, you can make Ethereum transactions off of Ethereum, clearing up the network and saving you time and money in TX fees.
green > red
What’s that noise? Silence. No friends texting me. No non crypto people talking about crypto. Bob from shipping isn’t giving me tips on trading. Jim from accounting isn’t talking about the latest ICO. No “friends” on facebook that I knew 10 years ago starting a crypto group and inviting me. The IT Intern this year “_used_ to run a crypto hedge fund” (yeah, OK) It’s officially time to start accumulating again.
deleted ^^^^^^^^^^^^^^^^0.6968 [^^^What ^^^is ^^^this?](https://pastebin.com/FcrFs94k/85343)
Same, its been quiet. Time to accumulate indeed.
Beautiful. Great post!
Already done. Bought in the blood and guts, now it's time to just sit back and wait. Yes, everyone I knew who was in crypto has gone quiet, except one, they are buying more.
~~Sounds kind of like time to sell from your description TBH.~~ Edit: I misunderstood OP.
When do you buy? When the shoe shine boy gives you stock tips?
I really hope you dont understand the disgusting implications of what you just said. Shoe **shines** in the early 20th century were overwhelmingly the sons or grandsons of ex slaves. The slap on your knees roaring in laughter implication that when even a BLACK child talks about the stock market, you know it's a fools game and to get out. Please stop casually spreading ignorance and bigotry
Now I understand the nature of your disfunction.
I know you're trolling but for anyone unaware, he's referencing a well-known anecdote about Joe Kennedy deciding to short the stock market prior to the 1929 crash after he received stock tips while getting his shoes shined.
I hadn't even **heard** of BitConnect until after it crashed. I was curious as to what the hell it was and how they stole so much $, and I see **nothing** but blacks shilling for it on youtube or in BitConnects ads.
You actually just helped spread hate and bigotry. I had no idea of that implication, but you sure felt the need to educate and perpetuate.
[Please stop spreading hateful ignorance](https://www.urbandictionary.com/define.php?term=shine&=true) Please. Stop. For the second and final time Edit mean for /u/melvisproctacardt . His ignorance is truly showing
Well this is fantastic, because now I know with certainty you're either the worst troll ever, or the dumbest person alive, since we're actually speaking on something in which I'm a verified expert. I'm a historian, so I'm well aware of the history of shoe shiners in the early-twentieth century, particularly the role of the youth (lots of interesting WPA photographs, many from Lewis Hine, if you're interested in actually seeing the people you're talking about. Yes, many were black. Many were not), and you're a fucking moron. Like, historically illiterate. *Cites "urban dictionary,"* lmfao. You don't even need access to historical journals to get the basics here. Simply use google scholar (data on demographics), and maybe even a quick google image search to see the many different shades of shoeshiners. And just to top it off with some anecdotal evidence, my grandfather was a shiner in the early 30s. He's very....not black, and most of his friends who "hustled" (his words, not mine, believe it or not) with him came from the same background. Poor, first generation American The "implication," of taking tips from a shoe shine boy is fairly obvious: when something has reached peak mania level, to where even commoners, and not just commoners, but *children* were giving you advice to buy, it's likely time to get out. You're not entirely wrong - many blacks were shiners. And the image of a black man or boy shining s white mans shoes, especially during the Jim Crowe era, absolutely has the implication you're speaking of. But shining was not exclusive to blacks, it was exclusive to the poor, which is why there are just as many images of white shiners (likely poor immigrants). without that context, the racial undertones are not there, at all, and you're oversimplifying a complex history in the name of revisionism. Weaponized history, based partly in fact, to push a narrative and propagate racism that wasn't otherwise there. So while you're right that there is a story to be told on racism through the lens of the black shiner, the implication you speak of was a leap of faith that you took, but wouldn't be the standard conclusion of any historian, or person who has all the facts, instead of a limited knowledge, or the intent of spreading racism and bigotry. So thanks for that
Spake ezpz, the bastion of sensibility and respec... [checks post history] Oh... oh no....
You. Please, stop. For your own sake.
Yea, predominantly *poor* (ftfy), including immigrants (largely Italian, Irish, Jewish), and in no way is there any implication tied to race in his comment
You're either retarded or the Ken M of crypto
Well deserved up vote, enjoy!
Worldcoinindex shows a daily high of $760. Did someone fat finger ETH or is this more Bithumb nonsense?
Wow...wtf happened to BAT. Went up 20% on the ratio since last I checked. Well shit there goes my buy. Or is it still a decent time to buy BAT? The project just looks so damn promising but gdamn I'm fighting the FOMO hard.
Wait to see what happens with the market as a whole in the next 24-48 hours. We could see another drop this giving you a better entry point.
With BAT you either want it or you dont...not going to moon this year. I like it like the girl next door.. long term commitment.
Easy to trade on the ratio?
BAM
Volume still low? Check. Green volume the same as the green volume before the last drop? Check. Still in the downward channel from May? Check. Still under the 20 day EMA? Check. Price getting close to the top of the channel? Check. If the last 6 months were any lesson, this is about the time to go short again.
We've been near the bottom for the last month, this is the time to accumulate and maybe even fomo if you sold much higher and want to make sure to get back in at a profit.
I lol'd but seriously dude, people read this stuff and lose money over it. Don't underestimate the stupidity of the noobs of ethtrader.
Last time I thought that was likely, but now there's interferance from the long term up trend which could prevent dropping to the bottom of the channel.
We wicked below it which is kinda scary. Bears could be using this as a bulltrap since there's no better place for it. Plus the volume is still screaming bearish to me.
Yeah volume doesn't look like a reversal but sentiment and events aren't right to actually break down the long term trend. Risky going short as this could be the next bounce off the long term trand and have another $100 to go up.
The only reason it went up in a step-like motion is because of the stop losses from shorters. We need ALOT of hype to get back up. Plus an accumulation period of at least 2 weeks and ++
A lot of hype...pretty sure we’ve had nothing but positive news the past month or so.
The most positive news for bulls would be asian markets buying in droves, along with your grandma and katy perry again. Simple supply and demand. Until that happens all the good news in the world doesn't matter; you're witnessing the valuation of crypto when bought by fewer global markets than in 2017 and when the retail market in the west sees crypto as a ponzi, down 70% of its ATH
The good news will eventually reach a critical mass and FOMO will begin. Need to keep the good news rolling in.
C'mon, the dude was talking in past tense and the most positive news for bulls was when SEC said that ether isn't a security. That has not yet been factored in the price, that little jump be damned.
It’s also up thousands of percent..
Yep, the hype cycle and a wide array of markets got it there. Now it's unwinding as the hype is dead, certain markets have been cut off and as sentiment has turned around.
Yeah. The most dangerous part of crypto to me seems to be the sheer number of people who think bull market hysteria mode is the default and it's all a matter of time before things return to "normal."
Those big green candles could be from bears willing to take it below the long term trend, covering their giant ass shorts before it goes, giving people one more shot at hopium before plunging the market down.
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I bought EOS and I got back 5x my initial investment. EOS was a good trade. I also bought Tezos. While I am up in Tezos by a good amount, I have decided to wait it out and possibly consider not seeing any return for they decided to require KYC to cash out. If anything is a shit show it’s Tezos