Vitalik spread FUD's
Vitalik Buterin spread FUD
Why the leading figures keep doing this is beyond me. Yes, he's an authistic weirdo, but I'm not sure if that's an excuse. Why can't these developers stick to developing, and stop trying to be "a calming and reasonable voice". I hate it when these people, who often has no understanding of the markets, does this.
I'm sure he did it to sort of lower the expectations of young and inexperienced traders, but what he should do is shut up and do what he's good at, and not become a regulator. We don't want or need bureaucrats, regulators or ""Washington" type of people. At least we don't need our own people to be those people. So please stop.
Maybe Vitalik knows that ETH will face a hard time to come. They want to fork to PoS and this will give a lot of trouble. Miners will not agree with the fork, because they will lose their revenue while they are heavily invested in hardware.
Just now Bitmain came out with an Asic ETH miner, this will destroy the profitability of all the current miners. This means that Bitmain will own a majority of the hash rate, so ETH will have to split or cancel there PoS update.
If they split there will be a massive mess with all the ERC-20 coins and if they don't upgrade they will get stucked in a long lasting scaling debate. Bitmain made a lot of trouble in BTC, they blocked (together with others) Segwit for more than a year and cause a lot of FUD.
If you think the scaling story of BTC was bad, it looks like the things to come for ETH are way worse. Today I sold 25% of my ETH for ETC, that is where the money will go when this goes wrong. Smart contracts could also move to RSK because it is sure a split won't happen there, but I am already heavily invested in BTC so will also profit in that case.
Looks like Bitmain gave up on BTC and is making ETH to their new victim. Probably BTC is to decentralized to take control over and they see their chance on ETH.
Ouch..that's some nice info man. Something I have to really think about.
What do you think of these arguments?
I agree on the first points, but don't agree on the last. I think PoW is way more secure and proven on big scale. Changing from PoW to PoS with a big and heavily used network as Ethereum is is also a bit experimental. If ETH was my main investment I wouldn't be happy that they risk my money that way (thats why I sold off some). Even if it is bullish overall, I think it will be a long way full of uncertainty to come there.
Thanks for your thoughts on this!
I struggle to understand what vitalik aimed to achieve with that tweet. Every type of investment asset has some risk associated with it and investors decide where to invest their money, they do not need advice from a guy that has amassed 500 million usd fortune.
Agree. It's ridicilous. But like someone wrote, he's young and he probably doesn't understand markets very well. He definitely needs some guidance when it comes to PR. He, and for instance Charlie Lee talks so much about immaturity and irresponsible markets etc..but are they themselves any better? They don't strike me as leaders. THEY need to mature more than the market IMO. It's a 500 billion market. It's ridicilously small.
Vitalik's comments are completely reasonable, and provably what any traditional finance advisor would say. Completely in the mainstream of financial advice. Very naive of you to say he is young and doesn't understand markets. He is young, but smart enough to know that what he is reporting is excellent traditional financial advice.
The only point I agree with is - "why is he saying these things? what is his motivation?"
Since he is not a financial advisor, why does he feel compelled to repeat that type of advice?
He may have legal advice that he will be better positioned to defend against future claims of fraud, if he regularly sends out this type of information, prior to a large crash of ETH
It indicate positive will come soon....
Agree, it doesn't feel like we are out of the woods yet, Bitcoin could slide lower before we start hitting higher highs.
Sunday is never a good trading day for cryptos though volume wise, let's see what the next week brings us.
Bitcoin tends to recover very fast if you look at the charts the last 2 years and especially this year. So I am not worried if you are a HODLer with long term perspective. If you are looking to swing trade the market however, this could be a golden opportunity.
I think that if we are in for a correction again around this time, something tells me it can be in the 40-50% range due to what I mentioned above.
Yeah, a much needed pullback for BTC. Now I am curious if it can follow through and break new heights, or if the downtrend continues.
Maybe South Korea can contribute to more strength, there is some hope that SK can be the new Japan for BTC:)
https://giphy.com/gifs/nothing-shoot-chest-G6sJqVpD1U4jC
Anyone can explain about steem power? is there any expiry ? or how many upvotes we can do in 24hours without loosing power ?
What do you mean about expiry? Your steem power is your invested steem in Steemit. You can power down your account for steem. This process takes I think 9 weeks total? You get a certain percentage out (1/9th) out every week.
You can upvote seven 100% upvotes per day without loosing to much power.
Have a nice day my friend.
Southkorea invested from its own economy, around millions of dollars, as i hearf they lost a lot. Public money for decentralized currency feels fair but when its on rise.