What the Hell is going on with Eth price?

RavinderDhillonRavinderDhillon Member Posts: 74 ✭✭
edited December 2016 in Mining
So i've been waiting patiently for two weeks now for the price to recover, but it shows no signs of doing so, its almost as if its in freefall.
And this while Bitcoin continues to climb. And I can not think of any logical explanation for either. Sure there have been some attacks on Eth but the network recovered quickly from them. I mean just a few months there were talks of Eth surpassing Btc but we dismissed that as highly unlikely, if someone had told me it would drop to under $7 I would have told then that's equally unlikely as well.
So what the hell is going on? In all honesty I got into Mining just to make profits, and I sell what I mine as soon as I mine it, but I have been holding all mined ether for almost 20 days now because i felt the price was being manipulated and if I dump at such a low price im adding to the freefall.

Anyone have any insights or News to offer on Eth and when its going to be stable again?
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Comments

  • chuckfeastchuckfeast Member Posts: 19

    Anyone have any insights or News to offer on Eth and when its going to be stable again?

    My expectation is that eth will stabilize, as much as crypto ever does, in the second half of January. I do not necessarily expect that the new stable price will be as high as the old one.
  • YogiYogi Member Posts: 147 ✭✭
    edited December 2016
    "In all honesty I got into Mining just to make profits, and I sell what I mine as soon as I mine it."

    This is actually part of the problem. If you're willing to sell ETH at $7 people will buy it at that price and it will continue to stay at $7.
  • GiuccaGiucca Member Posts: 34
    edited December 2016
    @RavinderDhillon @Yogi

    "In all honesty I got into Mining just to make profits, and I sell what I mine as soon as I mine it".

    THIS: https://forum.ethereum.org/discussion/11018/miners-impact-on-eth-price
  • RavinderDhillonRavinderDhillon Member Posts: 74 ✭✭
    Yogi said:

    "In all honesty I got into Mining just to make profits, and I sell what I mine as soon as I mine it."
    This is actually part of the problem. If you're willing to sell ETH at $7 people will buy it at that price and it will continue to stay at $7.

    Giucca said:

    @RavinderDhillon @Yogi

    "In all honesty I got into Mining just to make profits, and I sell what I mine as soon as I mine it".

    THIS: https://forum.ethereum.org/discussion/11018/miners-impact-on-eth-price

    Maybe you didn't read what followed that statement ...

    In all honesty I got into Mining just to make profits, and I sell what I mine as soon as I mine it, but I have been holding all mined ether for almost 20 days now because i felt the price was being manipulated and if I dump at such a low price im adding to the freefall.


  • techtottechtot Member Posts: 338 ✭✭
    The price for ether was fluctuating between $5 and $14 between Feb-May earlier this year, so this is nothing new. I remember selling some @ $7 and then a week later it was back to $12. You can just never tell. Also, I know that the price of ether takes a while to "catch up" to BTC which has rose quite a bit recently. It's much worse than the stock market. I usually hold/add during these times.
  • workwork Member Posts: 2,084 ✭✭✭✭
    @techtot whoa dude, careful. You sound reasonable and level headed - that's dangerous with all these trolls around =p.

    Seriously tho, well said.
  • kemo6600kemo6600 Member Posts: 62
    Seriously guys , who is holding ? , lots of people are dumping majority of there holding with Stop-limit orders to buy larger amount when the Coin hits the bottom . And all those Trolls want it to hit 5$ or less just to buy more coins .
  • RetechRetech Member Posts: 46
    We need to back the economy math. Why're we buying ETH ?? What'll it using for ??? And the answer is NOTHING. Just a .... fast coin with 86 million supply and .... some hardforks. Well !
    Let talk about holder who believe in future, but NOT future in this case. The true that Ether's coming down 4 months ago.
  • breathesumetherbreathesumether Member Posts: 20
    Everything's a Ponzi if you think about it. Stocks, pensions, social security, why even your FIAT currency is a ponzi backed by NOthing! Ether is backed by time and you can't leverage it to the hilt like precious metals so it's hard to manipulate. Give it some time and it'll rocket to the moon. Ethereum is only at its infancy...
  • RetechRetech Member Posts: 46
    @G416G I strongly agree with you. EThereum is a BIG trap and BIG scam, Look at it supply, 86 million and more in the future, What happen if it hit to 100$ ? Well, I have 16 miners, it mean I got 1600$ a day.

    LoL, Why people's still believe in Ethereum ???? with 86 million and don't have ANY plan for the economy, that's a trash. People on this forum will see when it back to 1$ and then they'll blame for miner, and the true Genesis have 72 million coins.
  • chuckfeastchuckfeast Member Posts: 19
    G416G said:



    Work you're reputation goes down the more you talk.

    You know, it pays to look both ways before you cross Irony Street.
  • workwork Member Posts: 2,084 ✭✭✭✭
    Ponzi lol. The sky is falling the sky is falling. Oh wait, price is back above $7.50 already.
  • breathesumetherbreathesumether Member Posts: 20
    work said:

    Ponzi lol. The sky is falling the sky is falling. Oh wait, price is back above $7.50 already.

    It'll be back to double digits by year end. I guarantee it.
  • chuckfeastchuckfeast Member Posts: 19


    It'll be back to double digits by year end. I guarantee it.

    What form of guarantee is this? If I buy lots of Eth now, and it doesn't get back into double figures this year are you going to cover me for the difference? Because that would be a guarantee. Or, when you say 'I guarantee it', do you in fact just mean "I'm some guy on the internet you don't know from Adam, here's an opinion much like any other on the topic"?
  • workwork Member Posts: 2,084 ✭✭✭✭
    @G416G are you offering better odds then I would earn with a margin position? Or are you just talking a small gentleman's wager? Either way; you don't exactly come across as someone that would pay out if you lost.

    Also, I haven't made any claim I can predict future pricing, nor have I offered any predictions. I would, however, be happy to wager against several of your recent price predictions - like I said recently, I have a text file of quotes for my later amusement.
  • RetechRetech Member Posts: 46
    @G416G I must say, that is impossible. Some guy has money and makes price, I still keep my mind. If we look at the charts, Almost ETH price up because of Poloniex. Somebody behind it, The REAL price depend on the community. Look at BTC, China have a hand in this and polo isn't the leader ( more than 60% sometimes 80% Eth trade on polo - the same with Monero ).

    If Somebody's pro-Financial, they're NEVER long term with ETH. Hope for future ?? Don't make me laugh.
  • workwork Member Posts: 2,084 ✭✭✭✭
    http://www.coindesk.com/hackers-stole-300k-blockchain-investor/

    "The hacker validated rumors circulating online that indicated big sell orders placed in ether and Augur were the result of his group.

    Shen confirmed the hack to CoinDesk, though he did not disclose the total lost in the attack. In response to rumors more than $1m in ether was stolen, he responded the total amount was "less than that" but offered no further details."

    Hm... there you go. A large quantity of ether was stolen recently and has been dumped on the market. The fact they won't say how much means it was clearly a lot, probably at least over $500k worth. Explains some of the weird jolts in the market recently and quick recovery back above $7.
  • cascadia_coincascadia_coin Member Posts: 67
    edited December 2016

    So i've been waiting patiently for two weeks now for the price to recover, but it shows no signs of doing so, its almost as if its in freefall.
    So what the hell is going on? In all honesty I got into Mining just to make profits, and I sell what I mine as soon as I mine it

    Then don't complain about the price as you're part of the problem.

    You have no confidence in its future price so you dump ETH onto the market creating more supply than there is demand. Multiply your mindset times several thousand and you get what you have sown.

    The future price of ETH will depend in large part what we as miners do with the ETH we mine. If we don't believe in it being useful then the price will stay below $20 USD.
  • RavinderDhillonRavinderDhillon Member Posts: 74 ✭✭

    So i've been waiting patiently for two weeks now for the price to recover, but it shows no signs of doing so, its almost as if its in freefall.
    So what the hell is going on? In all honesty I got into Mining just to make profits, and I sell what I mine as soon as I mine it

    Then don't complain about the price as you're part of the problem.

    You have no confidence in its future price so you dump ETH onto the market creating more supply than there is demand. Multiply your mindset times several thousand and you get what you have sown.

    The future price of ETH will depend in large part what we as miners do with the ETH we mine. If we don't believe in it being useful then the price will stay below $20 USD.
    So you aren't in this for profits? You "Believe" in Ether and are mining purely to help the network? Or are you just willing to hold it a while longer for better profits? How is that better than the next Pump and Dump miner?

    And if you read full statements, which you apparently do not, you would see me mentioning that I have been holding for some 3 weeks since the freefall began because I didn't want to contribute to it. I feel like i'm repeating myself over and over again.

    Anyways, the whole point of this thread was that I thought I understood Ethereum a bit better than other Crypto currencies, and it seemed to be solid, backed by a good team, had a real world use etc, so its recent fortunes were a bit perplexing. I was hoping someone could help shed light on what could have caused the dropping value in trading, the coindesk article that @work shared is an example of what I was seeking. Instead what I got is a bunch of High and Mightys telling me how "It's you Miners fault". Get over yourself, will you.
  • workwork Member Posts: 2,084 ✭✭✭✭
    edited December 2016
    @G416G nice personal attacks... so I'm a professional promotor spreading propoganda now apparentently? "pumps regardless of the situation" is priceless too... just because I call out lies, laugh at crystal ball predictions, and am amused by ego fanning individuals that promise not to return (only to be back a few hours later), doesn't mean I'm pumping or promoting. Hell, if you actually knew anything about my post history here you'd know I am a huge critic of the very core of the Ethereum's design.

    Case in point - this guy that just confused coinBASE with coinDESK, tried to assosiate the two to discredit me and others, and is clearly getting more and more aggressive the longer the Ethereum price isn't falling as far as he predicted.

    Ya... I'm the one spreading propoganda.... lol, @G416G... nothing but a troll. You didn't even answer me about what kind of bet you're suggesting... all talk eh?

    CoinDESK has removed nothing. The article I linked actually speaks to the OP's topic. Nothing in @G416G's post last post is relevent and clearly intended as missdirection - THAT is propaganda.

    @RavinderDhillon it's hard to find the constructive posts thru all the hate sometimes - truely sad.
  • workwork Member Posts: 2,084 ✭✭✭✭
    Bets have odds and value limits. You still haven't proposed a bet, you just keep saying you proposed a bet.

    As far as your "mistake," you probably wouldn't make them if you actually read and understood people's posts instead of jumping to personsal attacks everytime you get a slight wiff of someone disagreeing with you.

    Furthermore, you weren't talking about the price anywhere in your post... you were rambling about corrupt news and spreading the very definition of propaganda. Hell, the bottom part of what you quoted from (the highly biased) newsbtc completely contradicts you're very point about a scam or propaganda.

    You ignore what people say, and then attack what they didn't. Which logical falacy is that again? https://yourlogicalfallacyis.com/strawman
  • wonderfullifewonderfullife Member Posts: 103
    Trolls seem to be making up some wild shit tonight.
  • GiuccaGiucca Member Posts: 34

    Trolls seem to be making up some wild shit tonight.

    Price is up, they must have hard time today.
  • MrYukonCMrYukonC Member Posts: 627 ✭✭✭

    Trolls seem to be making up some wild shit tonight.

    You can say that again. One in particular is trying hard to one-up all the rest. LOL

    @work I can't believe you're still around here buddy! I sure do miss the good old days! What a difference a few months make!
  • workwork Member Posts: 2,084 ✭✭✭✭
    edited December 2016
    @MrYukonC wild indeed man. Remember when the majority of the posts actually seemed helpful, lol? Dang, I should like an old man remenscing about walking 5km up hill both ways =p. The fallout from ETC split sure changed things.

    Gotta hit that magic 2000 posts =p

    On topic: $8.30 =). Where's the straight down to $5 and $3 that your crystal ball promised, @G416G ?
  • GiuccaGiucca Member Posts: 34
    work said:

    @MrYukonC wild indeed man. Remember when the majority of the posts actually seemed helpful, lol? Dang, I should like an old man remenscing about walking 5km up hill both ways =p. The fallout from ETC split sure changed things.

    Gotta hit that magic 2000 posts =p

    On topic: $8.30 =). Where's the straight down to $5 and $3 that your crystal ball promised, @G416G ?

    He'll not be online for some time.
  • breathesumetherbreathesumether Member Posts: 20
    G416G isn't helping at all and neither are you negative hate filled complainers!
    I thought this was the boards for Ethereum not to argue about why prices should fall, if I wanted that I would hop back on yahoo boards. Anyways ETH is @ $8.50 and rising. Yes I'm short sighted but like I said prices will go back up double digits and much more in the next few years. 86 million coins is nothing. Yahoo has one billion shares outstanding and there are hundreds of thousands of stocks. Yes I know don't compare stocks. Well in the eyes of the IRS crypto and stocks are taxed the same way, so that's a good comparison. Peace out.
  • o0ragman0oo0ragman0o Member, Moderator Posts: 1,291 mod
    Up until now, I've only banned spammers. I am not by nature a disciplinarian and try tolerate anything or anyone in the deference that natural consequence is a far wiser teacher than myself. However I find myself forced into being a component of those natural consequences by further complaints against @G416G. Having found no other way to bring him to moderate his own behaviour, I have been left with no choice but to ban him.

    The amount of time and energy @G416G spent here leads me to believe he actually valued being a part of this community and indeed he attempted to help many. It was those optimistic thoughts of inclusion by which I've not taken earlier action. However the weight of his toxic behaviour was always against him.
  • wonderfullifewonderfullife Member Posts: 103
    edited December 2016
    Oh well, hopefully AMD will release a new chip and we'll be back to talking about straps and voltages. Trolls will spawn again as some slightly bad news appears.
  • workwork Member Posts: 2,084 ✭✭✭✭

    Up until now, I've only banned spammers. I am not by nature a disciplinarian and try tolerate anything or anyone in the deference that natural consequence is a far wiser teacher than myself. However I find myself forced into being a component of those natural consequences by further complaints against @G416G. Having found no other way to bring him to moderate his own behaviour, I have been left with no choice but to ban him.

    The amount of time and energy @G416G spent here leads me to believe he actually valued being a part of this community and indeed he attempted to help many. It was those optimistic thoughts of inclusion by which I've not taken earlier action. However the weight of his toxic behaviour was always against him.

    Applause for this action. I appreciate that you took time to considering this carefully, and clearly gave G416G many opportunities to act in a more polite and contributing manner. I have little issue with WHAT he said (even if I disagreed about a lot of it), but the personal attacks and WAY he said some things was borderline inexcusable. He also seemed to be getting worse and worse each passing day.

    On topic: >$8.40 and .011 BTC again =). Here's hoping G416G didn't convince too many people to dump at the bottom.
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