ETC is a copy of ETH that was created as a result of a hard fork in ETH after a major hacking event, to try to return the stolen ether on the newer ETH chain. ETC was not expected to persist. I believe, but am not totally sure, that the ether that was hacked remains with the hackers on ETC, but not on the ETH chain. ETC only exists because a few interested parties tried to force it to stick around, possibly to confuse prospective investors. Otherwise, their motivations are unclear. ETC has no developer support and no uses, and is unlikely to receive any of the upgrades that ETH receives going forward. It's better to think of it as a completely different crypto asset that just happens to have a name that is similar to ETH.
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Cryptocurrency |OT| Nothing from Money
- Thread starter Brandson
- Start date
ETC is a copy of ETH that was created as a result of a hard fork in ETH after a major hacking event, to try to return the stolen ether on the newer ETH chain. ETC was not expected to persist. I believe, but am not totally sure, that the ether that was hacked remains with the hackers on ETC, but not on the ETH chain. ETC only exists because a few interested parties tried to force it to stick around, possibly to confuse prospective investors. Otherwise, their motivations are unclear. ETC has no developer support and no uses, and is unlikely to receive any of the upgrades that ETH receives going forward. It's better to think of it as a completely different crypto asset that just happens to have a name that is similar to ETH.
CaptainZombie
Member
NEO took quite the dip this morning from almost $20 down to the $16 range. It looks to have bumped back up to $17, where it probably needs to stay for awhile to consolidate. This has risen way too fast and probably by a bunch of pump and dumpers. There are talks about an ICO coming on to the platform soon.
Eth is doing fantastic and that $300 range will probably come this weekend.
Does anyone know much about OmiseGo? I had bought a little bit last week and it seems like an interesting project.
Eth is doing fantastic and that $300 range will probably come this weekend.
Does anyone know much about OmiseGo? I had bought a little bit last week and it seems like an interesting project.
walking fiend
Member
$3000? Oh well; if my margin orders don't get closed until Ether even hits $500, I'll be taking a year off to Hawaii or Venice... I used to think I am late to the crypto market (I entered when Eth was already ~$300), but you have given me hope; I don't know nearly as much as you do about the technical aspects of the cryptos, so I am going to trust you
Not enough trading has happened; it needs time to consolidate.
I have spread my assets among Dash, ZEC, ETC, EOS, LTC, SAN, and XRP. They all seem about to break out with at least 10% increase; EOS looks especially good. I had some Eth which sold @285, but I'll buy Ethereum and BTC in a few days too.
I entered when ETH was around $100, but started looking at it as an investment around $10, and first started hearing of Ethereum-based projects in the fall of 2015. I made the decision to buy some early in this year, but didn't force myself to persevere through the irritation of registering with and being verified by exchanges until the price already took off much later. I think everyone in this thread now is still way ahead of the game. There is big potential for significant returns in this space once mainstream crypto-based systems start appearing. We're at least a year away from that. I maintain that there will only be 1 or 2 public chain cryptos that gain sufficient developer adoption to deserve their returns. Everything right now points to Ethereum being one of those. I suspect we haven't seen the second one yet, as it may very well come from some big mainstream players and not a blockchain startup, and may not even have publicly tradeable crypto assets. It's possible that the second one will be a public chain version of IBM's Hyperledger.
The road to $3000 will be rocky, but I think getting there by around 2020 is realistic provided developer support continues to grow as it has been. There isn't another public crypto out there right now that I can justify holding long term like that. That said, there should be lots of opportunities to trade and grow ETH holdings between now and then. I'm fine with it never reaching those heights either. It's just the target I presently have in mind.
TheLostBigBoss
Banned
Really shitty that I'm maxed out at 500 a week on my debit card and it takes a full week to transfer funds from my bank account.
CaptainZombie
Member
Nice, so you have a pretty nice portfolio there. You are still holding on to ETC from last week?
If Eth dips down again, I'll get some more. I kind of sold off most of what I had to put into NEO, I did make some decent profit off of Eth.
The first NEO ICO has been announced. https://twitter.com/NEOnewstoday/status/894969491863601152
I agree with ETH hitting $3000 eventually. I still think it's going to surpass BTC in market cap at some point. Some people got too carried away with the flippening though, it wasn't going to happen over a short period of time. The gains it's made over BTC are still incredible.
Nice! Meanwhile mine just crossed the $1200 mark (started with ~$720 in July).
walking fiend
Member
I like investing in the underlings
Excluding EOS, which coincidentally right now is exactly at what I bought it, all are up for the day. I usually sell @10% increase, but the market is really good, so I'm holding all of them for now, only partially selling @ 10% increase; excluding ZEC, which I already sold @ $255. If ZEC clears $260, it might go up all the way to $400, so I have a buy order for it if it hits @ $261 Wasn't NEO always being traded? Am I kinda confused? Really nice increase in NEO, I remember you saying it was at a good price when it was $6 or so
Thanks for the detailes response Brandson. I might hold some assets eventually, but I'll be out once I have hit $50k. I'd like to start my PhD and need some cash to go on a trip and have a less miserable life as a student haha
Talking about registration, it reminded me of what I had been wanting to ask for some time. I had created an account at Kraken which I never had used, and then about a month ago, almost at the time that BTC had hit a low, I received a couple of emails from them saying that my acco aunts had been verified, once to tier 1 and then to tier 2, meaning that I could wire money and stuff too... it's weird, right? Cause I never uploaded my ID or anything to their website
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Edit: Some statistics that might be interesting to some:
- The average hourly increase in price of ether since it started trading on bitfinex @ around $10, till yesterday, is 0.034% (yeah, it is pretty small, but because the increase compounds, it ends up to make sense. There has been nearly 12,000 hours since Ether has been tradable on bitfinex, so the current price should be about 10 x 1.00034^12000, which adds up to $590, which is of the same magnitude as that of the current price)
- The distribution of the hourly price changes is almost normal around the average (0.034%) and its standard deviation is 1.25%, meaning that 95% of the hourly price changes of Ethereum lie in the range of [-2.5% + 0.034%, 0.034% + 2.5%], or, looked at differently, only about 5% of the hourly changes are more than 2.5% or less than -2.5%.
- if you had been margin trading in the past 10 days, the chances of hitting 10% in 8 hours in 4 tries would have been much higher than hitting 2.5% in all of those 4 days. Essentially, the price increases usually happen in large chunks: there is a jump, the price settles and consolidates, it jumps again [or dives], then consolidates.
I got the raw from data from bfxdata in csv form and then used excel to process it
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My general understanding of the market right now is that unless BTC and Ether are hit with a major correction, there will be a major increase in the whole crypto cap and prices will go up all across the board. There is too much momentum in too many coins. XRP going up 50% can move the whole market by itself, now there are quite a few others with already large markets Dash, IOTA, ZEC, BCH, to name a few
CaptainZombie
Member
I like investing in the underlings
Wasn't NEO always being traded? Am I kinda confused? Really nice increase in NEO, I remember you saying it was at a good price when it was $6 or so
That is great that you are making some decent money off some of these smaller coins, sometimes it is the way to go. I don't think that ZEC has ever hit the $400 range correct? It has always loomed in the $200-250 range.
Yeah, NEO has been traded now for a few months. It sat stagnant around the $6-7 range for the longest time, then when the huge crash happened last month month it got all the way to $4.50, that was when I loaded up........but not enough. LOL! Ever since I've been buying all the way up to where we are at now. I have some good profits and was tempted a few times to sell at $20 mark to rebuy at a lower cost, but the luck I have the market would go the other direction messing me up. I am holding NEO for the long term, but if I can add more coins by trading I would do it.
What do you guys think of Ten X? Is that a decent coin to get invested in?
First NEO ICO, meaning first ICO for a project built on the NEO platform, if I understand correctly.
CaptainZombie
Member
Yeah, that is correct as to how I also understood it.
Jzero
Member
ETH just broke $300 - seeing $304 on GDAX right now
I'm going to pull out at $380 (where I was dumb enough to buy) and spend it on the cheaper currencies.
ETH just broke $300 - seeing $304 on GDAX right now
ETHBTC ratio climbed up to 0.089. It is still way off its ATH. At its ATH ratio of about 0.15, even if BTC stays at this price, ETH would be over $500. Looking good. Every time in this run I think ETH can't possibly keep going, it surprises me. Maybe it really will get to an ATH before correcting again.
Just as long as by cheaper you mean lower market cap and not the actual price of the coin.
Aquavelvaman
Banned
My patience paid off with ETH.
CaptainZombie
Member
How much further do you guys see Eth to keep on climbing at this point?
Very hard to call right now. You'd think it has to retrace at some point. Beyond a flash crash, I don't know if something like $230 is in the cards. I don't think we've seen the last of the $280's at least, but there's a good chance it will climb to $325 or $340 before taking some profits, and then perhaps onwards to $500 before the market regains its senses. Who knows, really. Entertaining though.
TheDoldrums
Member
A few elite holders were hit by the hack and ETH hard forked to bail them out. That's one of the benefits of centralization I suppose, but it's also one of the reasons I'm more bearish on it hitting $3000. The idea that Vitalik can change it to serve the needs of a select few makes me nervous.
The other main concern I have long-term is that ETH has no coin supply cap. No one knows how many have been mined or will be mined. I believe scarcity is a huge part of bitcoin's price and that's something ETH will never have.
Having said all that, I still have a decent position in cold storage that I don't plan to sell for a long time. Still think it's a great idea for bitcoin longs to have a hedge in ETH. So I hope you're right.
walking fiend
Member
I'd cash out my Ether about now if I hadn't been taking partial profits to sustain a little loss [which is to say, take some partial profits at this price if you already hadn't at lower prices]
The way I see it, it'll either break its ATH tonight lol or will crash in a few hours (I'm looking to buy back again @ $270, which is where I believe it will consolidate and will then move up again)
The way I see it, it'll either break its ATH tonight lol or will crash in a few hours (I'm looking to buy back again @ $270, which is where I believe it will consolidate and will then move up again)
ETH won't hit $3000 if it's still operating on a mining-based security model. If they implement proof of stake successfully and securely, and the market trusts it, then that is when the big numbers will become possible. Coin issuance will change significantly then. It sounds like that is about 2 years away.
Bitcoin is not without its problems either. Reading through their various forums, it sounds like there are significant groups that would rather destroy Bitcoin than see it run Segwit2x. Ethereum hasn't yet had such massive differences in philosophies amongst its core developers. I imagine it will eventually. It's not a good look for Bitcoin.
Both of them need to get much faster at processing transactions. Bitcoin can't agree on what to do, still, while Ethereum is working on a few things. Ultimately, any kind of cryptographic mining is not compatible with fast processing. Any crypto that is married to mining is forever going to have its potential limited.
You're probably right, but I don't have the stamina to babysit it right now, so I'll just hold through it.
I got one call right at least (from July 27, with ETH at ~$200).
walking fiend
Member
"I should do the same" I have been telling myself for almost a month already -_- I'm gonna just leave my positions as they are too I guess
But wouldn't that be an issue only if the merit of Ethereum was as a limited asset that has no intrinsic value out of the transaction potential? I used to believe that the value of Ethereum is that eventually it the token holders will be rewarded based on the usage of the network, so as long as the usage expands, it should be fine even if the mining increases?
Jzero
Member
What does this mean and how do we get them? I have both OMG and ETH.
DonMigs85
Member
https://www.omise.co/omisego-airdrop-update
Man, DGB isn't budging. I might give it until next month
CaptainZombie
Member
That is sweet, I have both. I wonder how much OMG they will give then to each person.
I might get rid of my DGB also while I've made a small profit. I was looking at the charts and it seems like it's not going anywhere.
Edit: misread your post.
in the recent rise after the fork, the promising coins in the top 20/30 got a big boost, with at least 50 % or more (NEO,XEM, STRATIS, IOTA,Omise and others) while XRP almost didn't move at all (7d). Can't imagine what should move it that big if the recent altcoin injection didn't effect it much.
I'm sorry, I still don't fully understand. I have more than the required amount of ETH in a wallet so I should receive some OMG, but where do they go? Do I need to get a specific wallet with OMG and it is automatically added to that? Thanks to anyone who can explain it a littlw more clearly for me!
OMG is an ERC20 token so it can be held in an Ethereum wallet. It'll just show up in your wallet once they do the airdrop.
Looking at the data overnight, it looks like I could have picked up another 30ETH or so by trading if I had stayed up all night monitoring it intensely. I did that a couple of times in the bear market. I can only do that so many times though. It's bad for my health.
I just wanna make sure I'm 100% right. If I have my Ether in a MyEther Wallet, the OMG is transferred to that address? It doesn't get it's own address?
That's my understanding, yes.
Thank you for your help!
This is my understanding, but your Ether would have had to have been in your wallet at the time that OmiseGo took a snapshot of the Ether blockchain. I'm not sure exactly when that was, but I believe it happened already.
It's possible that some exchanges might let you receive the OMG for holding ETH on their exchange as well. There should be regulations forcing them to do that, but for now you just have to hope they do the right thing, eventually.
CaptainZombie
Member
Do you know when they will be giving out the free OMG? Did they say around when they hit our accts to pickup the amount of Eth we had since I've been doing some moving around of my eth.
Thanks for your help, too. That's what I was curious about as well. I had my ETH in Bittrex for awhile, but recently moved it to a MyEther wallet so I can have it secure for the long term.
CaptainZombie
Member
Thanks!
walking fiend
Member
Technicals. XRP has seen a major correction and been consolidating for a while. It's been increasing steadily, which is much better than 100% jump overnight for a solid investment. The best entry point is at supports levels, and XRP seems to have a strong support @ $0.18.
Edit: I would go as far as saying that XRP is possibly the best candidate for long-term investment in the market, as it is controlled by its parent company and is the coin most similar to a fiat currency.
I lost a good chunk of my gains since yesterday by not closing my positions last night, but still better than spending too much time on it; the returns are diminishing, especially because I am not trading with that much anyway
Borboleta Amarela
Member
Anyone here tried to install the OSX wallet for signatum? Mine crashes on install...
It sure looks like ETH is going to try out $300 again soon, so ultimately not much will be lost, just a missed opportunity. I tried to trade with a little bit this morning. I didn't feel like taking a modest +2ETH profit though, and watched it climb back to my sale price, so it was a wash in the end. I had to buy back in then as it was clear it was heading back up more, which it did.