/biz/ - Business & Finance

>>10689156
Genesis wallet is dumping ETH

IT'S BECOMING ETHEREAL

Sometimes ETH is leading bitcoin.
Bitcoin is gonna follow ETH soon and capitulate in a similar way.

>>10689156
As alts die, their devs dump the ETH raised in the ICO and ERC20 offerings to salvage their money.

IE: Exit scamming, essentially.

>>10689156
ICOs selling ETH to preserve runway. The more that do it, the more that have to do it. Run(a)way effect.

And only 20-30% of ICOs have started cashing out, so there's plenty more room for freefall.

Also, NO LIMIT on the supply. It increased fairly recently here. They could raise it to billions if they wanted to.

>>10689156
Many ETH holders are converting to BCH and ETC.

>>10689159
??? Address?

Vitalik is exit scamming

>>10689209
>taking your ETH from a dumpster fire and pouring it into a raging furnace

nigga please

>>10689209

>>10689177
that would cause it to pump..

>>10689210
https://etherscan.io/address/0x7d04d2edc058a1afc761d9c99ae4fc5c85d4c8a6

>>10689262

>>10689159
I thought that the genesis wallet couldn't be accessed? Doesn't it exist to be a burn address for ethereum?

>>10689177
double 7's, powerful number. usually means this is accurate

The price dropping is bullish, though.

>>10689262
>insane sell pressure makes the price rise
where's that image where the anon doesn't realize you need a buyer to sell something, it's warranted right now.

>>10689262
haahaha heheheseshhh

>>10689263
damn thats scary

>>10689156
people dumping eth for turkish lira

>>10689262
>https://etherscan.io/address/0x7d04d2edc058a1afc761d9c99ae4fc5c85d4c8a6


>That dump would cause a pump

lol

>>10689283
Anon suddenly have just realized that all these while, he just rekted himself.

>>10689156

Inherently ETH is shit, no solution to scaling and hard to code.

ETH is netscape of the early internet

>>10689209

>he doesnt own even a single BTC

enjoy that fine rope round 2020

>>10689262
>>10689282
>>10689351
The reason ETH gained so much so fast last year is because almost all ICO's were built on the ETH platform.

As coins die, the opposite happens and they leave it.

There are over 1850 coins right now. 1750 of them will die.

>>10689156
>It's not a worse store of value than BTC
It is absolutely a worse store of value than BTC. The fucking founder and too devs have all said that Ether is not suited to be a currency. Vlad Zamfir has literally said that ERC20 tokens are better currencies than Ether (leading to the creation of 0xBitcoin and clones). Why would you think a utility gas token which will not even be mineable in 2020 could ever be a store of value? They aren't even doing a hard cap so inflation is infinite lmfao

>>10689263
Oh, just 210 320 ETH in 2018. What? Why now?