(06-15-2017 02:07 PM)Darkwing Buck Wrote:  I can afford to lose my money. Doesn't mean I'm not adamant about maximizing my profit and minimizing loss. Especially since this is my first rodeo with trading/investing. I want fuccin money shiiieeet.

I mean I'm not going to be homeless cuz of this shit but that doesn't mean I wanna throw away thousands of dollars. This shit is volatile none of us are here for a "safe" investment or we would have bought treasury bonds or proven stock portfolios.

I am counting on the price to recover or I wouldn't have invested at all. I'm not gonna pretend like I don't care about the prices or my money so I can come off as some calm, cool collected stoic investor who never waivers and doesn't give a damn.

I'm out here like Big Worm goddammit! I'm stickin to my fundamental plan of holding long term til a certain price but I'll be damned if I don't give a fuck about what happens and don't enjoy speculating, commenting, and talking about it. What's the point of this thread if we can't do that?

They say the worst thing that can happen when someone gambles for the first time is to win big, because he will expect that in the future as a normal outcome. Seems like this might apply in your case as well - especially if you're new to investing, these crazy gains aren't anywhere near typical returns. All of the dopamine hits your brain has gotten from seeing ETH climb from $80 to $400 is likely making you addicted to the rush. And of course the huge fear/depression when it dips big. You can see it in the tenor of your recent posts.

I think it'd be helpful for your crypto investment (and general health) to try and balance out your emotions or at least try and maintain perspective. You already have a lot of paper gains locked in, right? If your cost basis is mostly in the 80's and you're dead sure that ETH will eventually hit $500-$1000, all of these bumps down should be noise. Set limit-sell orders at whatever price you want to sell at and even buy on 25%+ dips like you seem to be doing. If it dips further, buy more to dollar cost average down. If your price prediction holds true, you'll be achieving the same result with a lot less heartache.

(06-15-2017 04:23 AM)Hyperflux Wrote:  What's everyone's strategy for August 1st? Lots of talk about moving to LTC, XMR or USDT temporarily to weather the storm.

Also, you guys should totally copy lumyo on 1broker. Guy's a beast, he already made me 0.7 BTC of profit in a few days.

His returns are insane, but only trades forex and gold as far as I can see. No ETH

(06-15-2017 02:07 PM)Darkwing Buck Wrote:  I can afford to lose my money. Doesn't mean I'm not adamant about maximizing my profit and minimizing loss. Especially since this is my first rodeo with trading/investing. I want fuccin money shiiieeet.

I mean I'm not going to be homeless cuz of this shit but that doesn't mean I wanna throw away thousands of dollars. This shit is volatile none of us are here for a "safe" investment or we would have bought treasury bonds or proven stock portfolios.

I am counting on the price to recover or I wouldn't have invested at all. I'm not gonna pretend like I don't care about the prices or my money so I can come off as some calm, cool collected stoic investor who never waivers and doesn't give a damn. I mean even with less than adequate knowledge I'm at almost 100% return on my original investment after only a month and I'm sitting here complaining about it. Regular investors are happy to do 8% in a year if I understand correctly. This is some cool and wild shit.

I'm out here like Big Worm goddammit! I'm stickin to my fundamental plan of holding long term til a certain price but I'll be damned if I don't give a fuck about what happens and don't enjoy speculating, commenting, and talking about it. What's the point of this thread if we can't do that?

@Hyperflux I sold my small amount of BTC earlier this week cuz I don't wanna deal with the headache of the upcoming fork. Timing ended up being fortunate cuz it was right when bitcoin started tumbling down from 2900.

Honestly I think this whole fork debate and controversy is one of the main movers of this downward momentum amongst crypto. I don't even wanna think about the implications of the fork, what it means from a user perspective, how the blockchain will be affected, and all that cuz I'm not a tech guy.

I'm out for now until this whole thing is settled and then when the dust clears I'll decide what to do.

Maybe someone smarter than me would think otherwise but I don't really wanna be holding bitcoin while the community has a dick swinging contest over how to handle hardfork vs softfork and segwit activation and all that. No thanks.

Then again I didnt have much BTC to begin with so I don't know how people who are holding a lot are dealing with this or looking at the issue.

(06-15-2017 12:18 PM)Darkwing Buck Wrote:  [edited out]

Even though I bought some in the 300s, I'm not even mad at you. I wanna pick up some of that sweet sub 300 ETH as well. Stupid ass Gemini says I can add 500 to my account every business day but I think it literally has it on a 24 hour timer which is annoying.

I bought some during the dip yesterday afternoon and when I tried to add more money early this morning to buy some more it wouldn't let me.

Gemini resets your $500 limit every day at 5pm eastern time. So you could actually sent $500 at 4:55pm on day one and another $500 at 5:05pm on day 2 for two daily limits, and then you would have to wait until 5pm on day 3 to send another $500. The reset seems to work 5 days a week - monday through friday and even holidays, but not weekends.

We may have a turn here. Not a bad time to buy. I'm dripping in a little.

(06-15-2017 06:04 AM)Gas Wrote:  

(06-15-2017 03:29 AM)Travel Museums Wrote:  

(06-15-2017 03:15 AM)Gas Wrote:  What charts are you guys using? I'm using the one on coinmarketcap, but that shows the bottom of this dip at $320 when we clearly had trades sub 300. Hard to make decisions when all the info isn't consistent.

I've found GDAX has the most accurate chart while it's sister site Coinbase the most inaccurate. If you're just doing the top three coins GDAX is the best place to trade bc maker orders are usually no fee.

I was looking at WorldCoinIndex, CoinMarketCap and Coinbase and all had vastly different numbers. WCI showed the ETH price as 305 while according to Coinmarketcap we haven't even fallen through support at 345 yet.

Difficult to trade when you don't even know the real price. I suppose you should just go by the chart on the exchange you're using?

Have noticed over the last 2 weeks GDAX tends to have higher prices when rising and lower prices when falling than Coinmarketcap.

My unsophisticated theory for this is that there are more new traders on Coinbase since it's the easiest to get on, has the highest visibility to the public, and allows fiat trades unlike say, poloniex. And new traders are more likely to buy high and sell low.

(06-14-2017 01:06 PM)booshala Wrote:  LOL at the people getting scared and selling. This shit's chess it ain't checkers. I think we'll hit $500 by year's end and $1000 by this time next year.

Prime example of if you don't know much about crypto then don't come in here making proclamations, especially with such arrogance.

---

If you're skittish to volatile movements, don't invest in crypto. Invest because you believe in the long term and HODL.

Instead of providing analysis and statements with very little experience in ETH, sit back and listen to those who have been doing this a while, read as much as you can, contribute useful and non-alarmist commentary, and ask (precise) questions.

We've bounced pretty strongly with good volume on the uptick. Trend shifted. I'm going to call it here! Buying.

Gold market capitalization: 7 Trillion USD vs. Crypto Market 0,1 Trillion = 1,4 %
Stock market capitalization: 70 Trillion USD vs. Crypto Market 0,1 Trillion = 0,14 %

Market capitalization of the top stocks
Rank First quarter[9][note 1] Second quarter Third quarter Fourth quarter
1 United States Apple Inc
Increase753,718
2 United States Alphabet
Increase573,570[10]
3 United States Microsoft
Increase508,935
4 United States Amazon.com
Increase423,031
5 United States Berkshire Hathaway
Increase410,880[11]
6 United States Exxon Mobil
Increase339,897
7 United States Johnson & Johnson
Increase337,947
8 United States Facebook
Increase334,552
9 United States JPMorgan Chase
Increase313,761
10 United States Wells Fargo
Increase278,516

I don't see Bitcoin BTC as a longterm part of a coin portfolio, the current block chain technology is not ripe for commercial use in BTC implementation (more transactions/minute). How long does it take to cash in coins with the transaction times so long? too long.

Ether and some other alt coins try to tackle the problems and I also think that is why the BTC ratio in market capitalization is declining as people shift to better technologies. Just because companies adopt block-chain or any other technologies from crypto currencies, does not mean that that coin will be used by the company, they will use the technology/code and create their own "alt-coin" for internal use. the public will never be stakeholders of those.
public coins are the products of the technology developers, and they are also used for funding the development and improvement of crypto technologies.

Has anybody a source, how many developers work on which coin to judge between a serious product or a dead horse? I would say "development time + features + market adaption" = value of crypto coins

(06-15-2017 04:36 PM)void Wrote:  Gold market capitalization: 7 Trillion USD vs. Crypto Market 0,1 Trillion = 1,4 %
Stock market capitalization: 70 Trillion USD vs. Crypto Market 0,1 Trillion = 0,14 %

Market capitalization of the top stocks
Rank First quarter[9][note 1] Second quarter Third quarter Fourth quarter
1 United States Apple Inc
Increase753,718
2 United States Alphabet
Increase573,570[10]
3 United States Microsoft
Increase508,935
4 United States Amazon.com
Increase423,031
5 United States Berkshire Hathaway
Increase410,880[11]
6 United States Exxon Mobil
Increase339,897
7 United States Johnson & Johnson
Increase337,947
8 United States Facebook
Increase334,552
9 United States JPMorgan Chase
Increase313,761
10 United States Wells Fargo
Increase278,516

I don't see Bitcoin BTC as a longterm part of a coin portfolio, the current block chain technology is not ripe for commercial use in BTC implementation (more transactions/minute). How long does it take to cash in coins with the transaction times so long? too long.

Ether and some other alt coins try to tackle the problems and I also think that is why the BTC ratio in market capitalization is declining as people shift to better technologies. Just because companies adopt block-chain or any other technologies from crypto currencies, does not mean that that coin will be used by the company, they will use the technology/code and create their own "alt-coin" for internal use. the public will never be stakeholders of those.
public coins are the products of the technology developers, and they are also used for funding the development and improvement of crypto technologies.

Has anybody a source, how many developers work on which coin to judge between a serious product or a dead horse? I would say "development time + features + market adaption" = value of crypto coins

There's a kind of apples and oranges comparison that seems to be coming out of your presentation, and you are conceding that you are missing certain relevant data that would help you to see matters more clearly, such as number of developers and fundamentals.

Furthermore, I am a little bit confused by showing raw market cap growth numbers, and how relevant that is. Even though I still get some kind of apples and oranges comparison going on, but wouldn't the more relevant measurement be percentage of growth in market cap rather than raw numbers?

I was thinking about the transaction times today when I was out at the grocery store. I think there will be two tiers of crypto currencies in relation to transaction time. There will be coins that have near instant transaction times but at a higher fee (say 0.2% to 0.5%) and then a coin with a lower transaction fee (say 0.1% or less) but slower transaction time. Or there will be an average transaction time (say 1 to several minutes per block) but everything flows through an intermediary that guarantees the coin while it is still waiting for its several confirmations. But I can't see the crypto community accepting an intermediary... this is the same thing the banks already do.

(06-15-2017 05:00 PM)username Wrote:  I was thinking about the transaction times today when I was out at the grocery store. I think there will be two tiers of crypto currencies in relation to transaction time. There will be coins that have near instant transaction times but at a higher fee (say 0.2% to 0.5%) and then a coin with a lower transaction fee (say 0.1% or less) but slower transaction time. Or there will be an average transaction time (say 1 to several minutes per block) but everything flows through an intermediary that guarantees the coin while it is still waiting for its several confirmations. But I can't see the crypto community accepting an intermediary... this is the same thing the banks already do.

What if I told you we will have instant and nearly free transaction in the future without any stupid conformations

Yes I'm an arrogant asshole @globalman. Still holding all my ETH though... Actions speak louder than words. When I sell all my ETH cuz I got scared then I welcome everyone to talk as much shit as possible. Til that happens I'll be as loud as I want though I am obviously taking in information from everyone and in general more closely now. Even got an investment book by Robert Moriarty I'm halfway done with. I've actually researched crypto since last summer. I just never actually bought/invested until early May because I was poor and didn't have disposable income.

Researching technology and blockchain and the theory behind cryptocurrencies doesn't necessarily prepare you for investing/trading.

For example today lot of "tech" guys get on reddit and say how ETH price will increase because Goldman Sachs invested seed money in Circle who will be using a service based on the Ethereum blockchain to do international money transferring. They're saying how that is a huge adoption milestone but in reality it means nothing because Circle will undoubtedly be using a private blockchain to operate their service. Furthermore Circle is an established company with a legitimate service and team with an actual model.

All these EEA announcements as void is pointing out, don't necessarily have anything to do with ETH price increasing because for an organization to have a direct impact on ETH they would have to interact with the public blockchain. Though ICOs themselves do indeed have an impact on ETH because they're written on the public Ethereum blockchain.

Yet when I go on reddit I see all these posts and people who claim to know technology/development/computing saying that due to a certain company being part of the EEA, that this is bullish for ETH when there's no evidence of that company utilizing the public blockchain. It's positive news but financially, if a bank simply adopts a private ethereum blockchain for internal use then I fail to see how that influences ETH price.

Me understanding Raiden and Casper protocols on a technology level don't necessarily translate to me being a knowledgeable investor or trader unless I can use that knowledge to predict increases/decreases in price. So yeah when you tell me to "research crypto" I disagree. I've done plenty of research on crypto/blockchain but that knowledge often has fuck all to do with investing and trading decisions. I can read all the whitepapers I want on cryptocurrencies and ICOs and dApps and it won't turn me into Warren Buffet.

Also each crypto has its own backstory and value prop. For example I won't be investing in SIA coin or STORJ anytime soon because I doubt they can offer cloud storage cheaper than Amazon S3 cloud storage, Google, or Microsoft Azure and if they were to scale I question the viability of a blockchain supporting so much data storage due to file and block sizes. So again saying "learn crypto" is a broad and general statement. I work at a software company based on cloud technology so understanding the technology is only one aspect of this crypto stuff. It's not even necessarily required for investing/trading successfully in crypto.

I didn't know this thread was only for measured info and comments of course I'm excited and new at investing and wanna talk on this thread. We're all here to make money right?! Shit making money should be fun. Guess I'll take my ramblings to reddit and twitter and only post informational stuff here since everyone seems to be jumping at the chance to put me in my place when I wanna share my thoughts and opinions.

Y'all are so damn collected and stoic...

(06-15-2017 05:00 PM)username Wrote:  I was thinking about the transaction times today when I was out at the grocery store. I think there will be two tiers of crypto currencies in relation to transaction time. There will be coins that have near instant transaction times but at a higher fee (say 0.2% to 0.5%) and then a coin with a lower transaction fee (say 0.1% or less) but slower transaction time. Or there will be an average transaction time (say 1 to several minutes per block) but everything flows through an intermediary that guarantees the coin while it is still waiting for its several confirmations. But I can't see the crypto community accepting an intermediary... this is the same thing the banks already do.

There is nothing wrong with speculation, but one of the basic concepts of free and competitive markets, there are going to be all kinds of trade offs, and choices are not going to be made by everyone based on the same criteria. Fees are going vary,and there are going to be on chain and off chain solutions, and it could take 20 or more years to evolve into a kind of mature market.

Sure some centralized systems might incorporate percentages into their fee structures, but in bitcoin, for example, fees are all over the place - if you try to measure in terms of percentages, and if you are sending a real large transaction in terms of dollars, such as millions of dollars in value, you pay almost nothing, in terms of percentage - and currently, if you try to do micro-transactions, such as less than a $1, you kind of get screwed on the fees, in terms of percentage. Anyhow, fees in bitcoin are currently based on kilobyte size of the transaction - not dollar or bitcoin value.

In other words, it is too early to project how this fee market is going to play out because there are all kinds of solutions that are theorized, but some solutions become more feasible or less feasible based on other developments, mass adoption, spam attacks, FUD spreading, politics and even technological implementations...

Still, we are in an early and very much evolving space that has a lot of free market aspects and even attempts at innovation and implementation and persuasion.

I finally figured out Ether prices.

In February or March there was an institutional buyer, likely Microsoft, Intel, or JP Morgan, that purchased $20m in Ether with a market order on Gemini. This came from the "Community Outtreach" budget, or as I like to call it "Hookers and Blow". In other words, a complete drop in the bucket to this organization. This cause the price to spike upwards.

Sharks saw this price spike, and determined that big buyers knew something they didn't so they followed. That led to another spike.

Then some events in New York, China, bring some mainstream attention. These events used glass overhead projectors (the ones that use transparent sheets), very sophisticated. They just talked about "Blockchain", "decentralization", "aliens". Price spikes up again.

Now the price has spiked so much, that it spikes again just from spiking. Following so far?

To make matters even more complicated, a bunch of retards decided to conduct an Initial Coin Offering (ICO) for decentralized dating applications for neckbeards.

Juan: We need a dating application for neckbeards on the internet.
Jimbo: There already is one, its called Tinder.
Juan: But, its NOT decentralized!!! Let's create Matchpool.

Riiiiiight. So some completely uselesss app raises millions of dollars in funding. How do you raise capital for this ICO? Investors buy ETH and invest it to obtain ERC20 tokens. Now the price is spiking out of control.

To make things even more ridiculous, some autistic Russian kid has been stacking legos in the shape of L's for years now.

Frank: Yoooo Vitalik, you don't need to stack those legos anymore brah.
Tom: Yeah, he's been working sooooo hard doing econometric, 3D calculus to help figure out PoS and Casper.

Spike. Spike Spike.

When it couldn't get worse, you get an email from Grandma.
Grandma: I just bought that Bitcoin thing called ETH on Coinbase. Did you eat your vegetables?

Spike. Outta control. Trump signs an executive order to evacuate the entire state of California. Prices are spiking so much, seismographs are off the charts and everyone is convinced an earthquake is about to wipe out the western U.S.

Did I miss anything?

And another point. There has been some talk about the "dip" and doom and all this stuff. But here's my take. We have massive pumps and it usually goes up 20% more than it should. This is because people keep buying blindly during the pump because they don't know when it is going to end.

At some point, volume subsides and traders take profits. This is followed by 3-4 days of a 20% decline, and consolidation. People who bought in at the top panic, short sellers get on board, cause more mayhem. Newcomers are selling for losses, and traders are capitalizing big time. Then some event, or news comes out and trading volume picks up again and we start it all over. This has happened like 5-8x already in recent months.

I expect another 2-4 more of these pumps. Then August 1st, will bring large uncertainty.

If you bought it within the last month, just set price alerts at $400 and $300, don't worry about anything in between. Its normal, this is crypto. 5% daily fluctuations are called "consolidation". Go open a 0.3% checking account if the volatility is too much.

In my hands and at the head of my reading list:

(06-15-2017 06:37 PM)Armogan Wrote:  I finally figured out Ether prices.

Great tip on the alarms... I downloaded Bitcoin checker which was highly rated and has some nifty settings for a ton of exchanges and altcoins.

Now have alarms for >$400 and <$250 for ETH and fuck it... >$3000 for BTC.

I became slightly less n00b today

There are a ton of people out there voicing their plans to cash out their bitcoin before August 1st to wait and see what happens. Many of them plan to transfer it to USDT. Quite a few plan to do the same with their ETH and other crypto just to play it safe and see how the market plays out and then buy back in.

What are your thoughts on these strategies? I understand the basics of USDT but not the intricacies of how it works, with that many people how much could the exchange rate change for USDT?

I see it as all but inevitable that ETH takes atleast a small hit, but what's your strategy or what do you think will work best?

Sit tight with your ETH, weather the storm and wait for it to go to the moon? If the market takes a hit, buy more?

Transfer your ETH to tether or fiat and buy back in after the smoke clears?

(06-15-2017 04:52 PM)JayJuanGee Wrote:  

(06-15-2017 04:36 PM)void Wrote:  Gold market capitalization: 7 Trillion USD vs. Crypto Market 0,1 Trillion = 1,4 %
Stock market capitalization: 70 Trillion USD vs. Crypto Market 0,1 Trillion = 0,14 %

Market capitalization of the top stocks
Rank First quarter[9][note 1] Second quarter Third quarter Fourth quarter
1 United States Apple Inc
Increase753,718
2 United States Alphabet
Increase573,570[10]
3 United States Microsoft
Increase508,935
4 United States Amazon.com
Increase423,031
5 United States Berkshire Hathaway
Increase410,880[11]
6 United States Exxon Mobil
Increase339,897
7 United States Johnson & Johnson
Increase337,947
8 United States Facebook
Increase334,552
9 United States JPMorgan Chase
Increase313,761
10 United States Wells Fargo
Increase278,516

I don't see Bitcoin BTC as a longterm part of a coin portfolio, the current block chain technology is not ripe for commercial use in BTC implementation (more transactions/minute). How long does it take to cash in coins with the transaction times so long? too long.

Ether and some other alt coins try to tackle the problems and I also think that is why the BTC ratio in market capitalization is declining as people shift to better technologies. Just because companies adopt block-chain or any other technologies from crypto currencies, does not mean that that coin will be used by the company, they will use the technology/code and create their own "alt-coin" for internal use. the public will never be stakeholders of those.
public coins are the products of the technology developers, and they are also used for funding the development and improvement of crypto technologies.

Has anybody a source, how many developers work on which coin to judge between a serious product or a dead horse? I would say "development time + features + market adaption" = value of crypto coins

There's a kind of apples and oranges comparison that seems to be coming out of your presentation, and you are conceding that you are missing certain relevant data that would help you to see matters more clearly, such as number of developers and fundamentals.

Furthermore, I am a little bit confused by showing raw market cap growth numbers, and how relevant that is. Even though I still get some kind of apples and oranges comparison going on, but wouldn't the more relevant measurement be percentage of growth in market cap rather than raw numbers?

Crypto's can be used as money, but currently their "real world application" is more like being a stock/gold. The question is, do we see a shift of investments from stock/gold to coins (as most of them are currently not used like a currency for daily transactions). If so, how much?
Are they delivering fiat money dividends, no. Then let's compare them to Gold.
How much investment will the coins take from Gold market capitalization, I doubt it's going to be more than 50% until the technology is ripe. That would leave us with a total capitalization of 3 Trillion USD, but only if institutional investors jump on board .
I don't know how big the black market/illegal trading is for drugs and whatever, but that would be also a good indicator for Zcash or other anonymous coins.

The bubble of shit coins will crash. How about we create our own coin as well, "ICO" and cash in. Seems like an easy fraud. Even naming it JizzCoin, ShitCoin, PumpCoin, WeStealYoMo would not stop people from buying in at the moment.

(06-15-2017 09:38 PM)void Wrote:  The bubble of shit coins will crash. How about we create our own coin as well, "ICO" and cash in. Seems like an easy fraud.

Yeah we're bound to have some developers that can write code here. Let's draft up a white paper, open a website, do some press releases, and do an ICO. We can do all this shit by the end of July and cash out nice. At least 5 million on dumbasses buying our RooshCoin.

(06-15-2017 05:18 PM)Darkwing Buck Wrote:  Guess I'll take my ramblings to reddit and twitter and only post informational stuff here since everyone seems to be jumping at the chance to put me in my place when I wanna share my thoughts and opinions.

Bro, it's all good. Stick around.

There's no issue with sharing thoughts or getting exciting or getting worried. The reason your earlier comments didn't go over so well (beyond that they were wrong- we all can be) was not even because of the content of them necessarily, it's the way you delivered those thoughts, as a newbie here.

This isn't Reddit where any idiot can join in, say whatever with snark, and has no care. Think of RVF as a small exclusive men's club. Imagine joining an in-person mens club for a moment. You're a new member. The rest of the club hasn't seen you around, they don't know you, you don't them. You walk in on day one and overhear a conversation about whatever. You say "lol at all you guys doing X, everyone knows Y is happening". How's that going to go over do you think? We're not a bunch of random faggots on Reddit here doing lol's, we interact as we would in person, because many actually do meet in person.

There is not a better place on the internet for men, especially cool successful dudes. All you gotta do is keep that in mind brother.

^ +1.

As I said, when you trade you're trading against other people, so it always helps to know what others think. Whenever you sell something, that means someone else has decided to buy. Think about that - while you're saying "I'm jumping in" someone else is saying "I'm jumping out" at the exact same moment. Make no mistake - trading is a competition. So hearing other people's point of views is important. Even if you're a buy and hold guy and looking for a good dip to buy - still important.

But if you just come in saying "I think it's going to go to $500!" that's pretty worthless. Tell us why you think that, give us reasons. I'm happy to post my calls here...maybe I'm right maybe not...but even though I'm a crypto rookie I'll always give my reasoning. One thing I learned trading stocks is no matter how experienced you are you still want to know what the rookies are thinking - those are the people you are likely selling to, and buying from.

I was thinking this morning -- for several months now, ETH and BTC usually go and down together, keeping a ~0.1 eth/btc ratio give or take.

But with Aug 1 looming, and no signs of an acceptable resolution for BTC, these may decouple. Bitcoin may get clobbered and lose lots of market share to the next biggest crypto. If that is ETH, currently at #2, it will absolutely rocket.

Right now, BTC's share is 40bn and ETH is 33bn.

Hypothetically, if BTC loses half of its market share because of community infighting, reducing its price from $2,500 to around $1,200.

For simplicity's sake, let's assume 100% of these sellers move their wealth to ETH, its market share will shoot up to 53bn, where its price would achieve a new floor of $576. That's assuming no overall growth in cryptos as a whole.

With continued growth of cryptos market, a doubling of market cap from 100bn to 200bn would drive ETH's price to over $1,000 if the above assumptions hold.

Thoughts? Please tell me if I'm drinking the ETH koolaid...