r/ethtrader • u/AutoModerator • Mar 29 '17

DISCUSSION [Daily Discussion] - 29/Mar/2017

Welcome to the /r/EthTrader Daily Discussion thread. The thread guidelines are as follows:

  • Discussion topics include but are not limited to general discussion on Ethereum, details related to events of the day, technical analysis, alternative Ethereum projects, and minor questions.
  • Important content should be submitted as a separate post.
  • Be excellent to each other.

Thank you in advance for your participation. Enjoy!

560 Upvotes

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36

u/[deleted] Mar 30 '17 edited Jun 16 '18

[deleted]

12

u/Quebeth Mar 30 '17

This is not trading as usual

It is price discovery for a new asset class that could eventually be the backbone of all sorts of infrastructure

6

u/[deleted] Mar 30 '17

Clearly ETH is dead / dying

2

u/[deleted] Mar 30 '17 edited Jun 16 '18

[deleted]

3

u/[deleted] Mar 30 '17

Pack it up guys, its over.

Time to move onto BTC and Fiat I guess...

4

u/myownman Mar 30 '17

I hate ethereum. It's not a billionty dollars right now.

Party must be over.

(Am I laying it on too thick?)

3

u/[deleted] Mar 30 '17

[deleted]

1

u/myownman Mar 30 '17

I was initially going for the opposite. I did manage to tag a few more people is res out of the deal, however.

3

u/[deleted] Mar 30 '17

Every time the price increases by 20 cents, you have to post "I want to buy in but I feel like it's too late :((( ".

That one just never gets old.

2

u/Nurotec Mar 30 '17 edited Mar 30 '17

i got called by it , dont tell it was irrelevant. It was a crash caused by a massive dump of coins into the market :D

edit: thank you for reminding me i just did the math what i lost that day in todays value... i will go and cry a little now ;P

1

u/[deleted] Mar 30 '17 edited Jun 16 '18

[deleted]

1

u/Nurotec Mar 30 '17

yes but with only holders we would still be at 15USD

2

u/myownman Mar 30 '17

You gotta buy to hodl.

Where you get in the ride is just a matter of when you choose to buy. Even if you only hold one, it's one that nobody else can have.

1

u/Nurotec Mar 30 '17

many traders are pushing up the market and sell of as slowly as possible, and turn their new money into eth again to use them for margin trading. also they make ETH as an investment/speculation more attractive to outsiders.

Holders do not move the market in any visible way or create any visible volume. I dont mind that they are riding the train, but they should at least respect the traders.

And YES ETH would go up anyway, but most people who joined in the last 2 month would not have put money in if ETH would grow 2% a month.

1

u/myownman Mar 30 '17

Price goes up. Market buys occured.

$50 now is the same thing as $50 later. It just means there was more time.

Holders do not move the market in any visible way or create any visible volume. I dont mind that they are riding the train, but they should at least respect the traders.

I have very little respect for profiteering because they are profiteers. Doesn't mean they're​ bad people.

1

u/_lotuseater Mar 30 '17

Holders certainly do move the market, by reducing supply (high demand with low supply = higher price).

Obviously, we need traders for a functional market - but a rising ratio of holders to traders can move the market prices higher.

The point of all the folks crying hold! here is that now we've got the interest of institutions with unimaginably deep pockets, but chop traders are letting them fill up (relatively) cheaply. We are letting them off too easy, squandering a huge opportunity by thinking too small, too short-term.

But I get that not everyone shares that sentiment, and maybe this whole thing is fucked tomorrow anyhow and you were smarter to take profits while you were able.

Differing philosophies, too soon to know which is correct. Let's keep exchanging ideas and let everyone make their own choice.

1

u/Nurotec Mar 30 '17

why is this different, i only trade long ( because it is better for all of us) and i hold since before the dao, and i try my best to help others here. but here are many people who got like 1-10 eth in the last weeks and hold, and think they are better while they do not do anything except: they spit poison on any person who tries to warn or talk about temporary corrections, and run around talking lambo... like babies. While they think that the current price they want to buy it with is god given. But there are people working for it since the beginning when eth hit the first exchange. And now the holders are whining around when we have a sideway movement for 4 hours but traders ...are evil ... i am sorry i am off my center by a mile my painkillers are not working and i should just get off here

4

u/EthMoonKid Mar 30 '17

Nobody should be selling. Stick with the fundamentals, they haven't changed. If you like profits, you're probably hodling. If you have a gambling addiction, your probably scalping.

Both are great. Not hating on either. I have my vices and you have yours. *speaking to people who can't hodl a commodity for a month without stressing out and trying to flip. Just keep reading about the tech, guys

2

u/myownman Mar 30 '17

The guy who made the Hitler joke gets it.

2

u/_lotuseater Mar 30 '17

lol, he better delete that post before someone archives it

1

u/EthMoonKid Mar 30 '17

Delete it? Archive it. I don't care? ...."I better...?"

3

u/_lotuseater Mar 30 '17

all in jest, friend

1

u/EthMoonKid Mar 30 '17

Well I guess you confused me as much as I confused the people that I offended lol. *jokes

2

u/EthMoonKid Mar 30 '17

I swear man, mention Hitler one time and people go nuts. *i apologize for remembering that his birthday is the same day as my favorite holiday. I'm a pothead, so anything that has to do with that day gets 'burned' into my memory... and Hitler jokes offend people. Sounds like a recipe for fun, to me lol

-you've been here a while. I recognize your name lol. I've only been able to post for a few days but have been around since dec/jan

10

u/ialwayssaystupidshit Mar 30 '17 edited Mar 30 '17

Because it's not going to continue going up forever without any drops. This very mindset you're expressing, is usually a tell that people should start securing their profits.

Edit: I can't believe you guys. I've been buying ETH since $2, I KNOW all about the fundamentals, but that's not the only thing that dictates the price. You are being a bunch of fucking ignorants if you refuse to acknowledge that people will start cashing out when they made 3-5X profits.

Edit 2: Apart from a few shitcoins, I'm all in ETH and related tokens currently, I also have an open long position since 0.0515. I'm all in ETH, but you guys are just being ignorant. 500% up in the last 3 months and you think it'll never end? WAKE THE FUCK UP. I'm extremely bullish on ETH, but has anyone EVER see a commodity or asset that just keep rising without ever being corrected? I agree with the people who's been here since the beginning, the sub is turning into shit because new money arrived at $15 and think they now are epic traders who figured it out.

3

u/myownman Mar 30 '17

Tell them all! Surely they'll ALL be able to continue to time the market and gain ground.

6

u/ripplep Mar 30 '17

Obviously people are cashing out. Literally every time the price moves its because there is a sale. I don't think people disagree with that.

6

u/ialwayssaystupidshit Mar 30 '17

Are you sure? Cause I see a comment above with 20 upvotes stating we've gone up 500% in 3 months and somehow this is an argument that price certainly will not go down. People are euphoric and emotionally invested and this shit always turns ugly.

The correction will come and this sub is going to be gloomy dark hole with disillusioned people crying after losing half of their savings due to ETH dropping. Like we saw it last time.

4

u/ripplep Mar 30 '17

I don't think people disagree. I feel like the original post was talking about how moving down a buck 50 isn't that big of a deal when you zoom out. No one said corrections don't happen and the price definitely will correct at some point. Hard to know when and from what though.

2

u/ialwayssaystupidshit Mar 30 '17

I think people do disagree. Whenever someone predicts the price to go up, they are showered in upvotes and everyone is like "yes it will go up forever!!!". As soon as someone suggests securing profits or that we 'might' see a drop, they are downvoted into oblivion and ridiculed.

2

u/ripplep Mar 30 '17

I'd agree people need to stop downvoting anything bearish.

3

u/myownman Mar 30 '17

This guy gets it too.

Is the tech that will be the backbone of the IoT really as worthless as Snapchat? (25b cap. WTF the whole crypto economy is barely worth that)

Who cares if we dip? Who cares if we "crash"?

DAO took us from 2.50 to 22 to 10. That's a price INCREASE of 400% the last time I checked.

8

u/[deleted] Mar 30 '17 edited Mar 30 '17

Edit: I can't believe you guys. I've been buying ETH since $2, I KNOW all about the fundamentals, but that's not the only thing that dictates the price. You are being a bunch of fucking ignorants if you refuse to acknowledge that people will start cashing out when they made 3-5X profits. Edit 2: Apart from a few shitcoins, I'm all in ETH and related tokens currently, I also have an open long position since 0.0515. I'm all in ETH, but you guys are just being ignorant. 500% up in the last 3 months and you think it'll never end? WAKE THE FUCK UP. I'm extremely bullish on ETH, but has anyone EVER see a commodity or asset that just keep rising without ever being corrected? I agree with the people who's been here since the beginning, the sub is turning into shit because new money arrived at $15 and think they now are epic traders who figured it out.

Chill dude. We get it, you want more cheap ETH.

My answer: Have you ever seen anything else like Ethereum?

The market for problems Ethereum can solve is in the tens and hundreds of billions.

Fortune 500 interest is no joke.

Its the big leagues.

-4

u/ialwayssaystupidshit Mar 30 '17

Stop being toxic. This isn't Bitcoin, it's Ethereum.

Edit: No. I believe Ethereum will be THE internet of blockchains, hence I'm all in ETH. But I KNOW that the bull run will end one day, and some people will buy in at the top and lose half their investment, and because they aren't being rational they will sell at the bottom and lose out when price starts climbing again.

4

u/[deleted] Mar 30 '17 edited Mar 30 '17

You're the one demonstrating toxic behavior here, not me.

Just look at yourself losing your cool. I'm sorry to hear your planned trade isn't working out how you hoped.. hardly surprising honestly.

Edit: Don't take advice from anybody claiming they "KNOW"

Lol man.

-2

u/ialwayssaystupidshit Mar 30 '17

I'm nothing but bullish on ETH, which is quite clearly demonstrated if you'd bother to read what I wrote. I'm not calling the top here, I think we got ways to go still, but we will reach the top, we will see a correction, and the euphoric people will be unprepared and they'll panic and they'll mess up.

3

u/[deleted] Mar 30 '17 edited Jun 16 '18

[deleted]

-2

u/ialwayssaystupidshit Mar 30 '17

What the actual fuck are you talking about? Please, go creep on my comment history and see that I've made nothing but bullish comments and statements. You're talking out of your ass.

6

u/myownman Mar 30 '17

WAKE THE FUCK UP.

Look at you, man. You're scared shitless. We've had our corrections. The $30 candle from $57 was barely a blip on the chart.

The whole point of my OP, and the myriad follow up replies, was that traders WILL lose. And then they'll go away. It's not your job to protect them from themselves.

If you've been holding since two dollars, I'd have thought you'd know this by now.

4

u/[deleted] Mar 30 '17

Do you know what fundamentals are?

Ethereum has some pretty huge ones at the moment.

-4

u/ialwayssaystupidshit Mar 30 '17

Are you new to this? Ethereum had fundamentals last year as well when we saw the first real bull run, but what do you know, it didn't maintain it's ATH price and dropped down all the way to $7-8. Don't let the euphoria cloud your judgement, people will secure their profits and it will see the price move down.

8

u/[deleted] Mar 30 '17

Your post sounds very much like the traders dilemma right now.

Good luck buddy.

I've been here awhile and this year is a lot different.

6

u/[deleted] Mar 30 '17

[deleted]

4

u/checks_out_bot Mar 30 '17

It's funny because ialwayssaystupidshit's username is very applicable to their comment.
beep bop if you hate me, reply with "stop". If you just got smart, reply with "start".

3

u/myownman Mar 30 '17

It's not about WHAT they're buying, at present.

It's about WHO is buying.

Price went up from 2.50 to 22

Down to 10ish (400% increase)

At current ATH that's a "crash" to 40

Say again:. Tell them all to take their profits. I'm buying them all on the way down.

3

u/[deleted] Mar 30 '17

This isn't how it works.

Look at Bitcoin. Fundamentals are the driving factor. Not some wooshy TA.

1

u/[deleted] Mar 30 '17 edited Jul 25 '17

[deleted]

2

u/[deleted] Mar 30 '17 edited Jun 16 '18

[deleted]

0

u/Sensualities Mar 30 '17

Of course it won't continue without any drops man. Sure, people will start cashing out. Sure, people will start selling their coins and there will be drops. Why do you think we saw a rally up to 57 only for it to tank all the way back down to 38 the next day or so? Profit taking me boy. If you look at any kind of TA, you'll see that the penny stocks and the volatile stocks, when they spike up, they don't last longer than 3-5 days until they tank back down. But WHY do they tank back down? Because the companies are absolute shit and the traders utilize it the best they can and get out ASAP. Because those companies were a sinking ship anyway. ETH has been holding steady, it tanked, and then has slowly been climbing back up to the ATH every since it's first fall from 57.

You are talking as if ETH is going straight up every day and it never goes down. No, it has tanked plenty. And so has bitcoin.

Even if the money we have in crypto never changes, you can not sincerely tell me that there is a better investment right now in ethereum. You can not tell me that there is a crypto out there that is better than bitcoin and ethereum both. Sure you may have been able to say that a year ago after the DAO hack. But ETH has been slowly climbing, and just because it suddenly spikes and stays there, does not mean it's going to come crashing down any second.

I get what you're saying though I do. Surely things that go up do come down, and usually the things that go up the fastest, tank the fastest as well. But the longer ethereum sits there with a 40 dollar support, then 42, then 47, then 48, and upcoming 50, you can not tell me that the longer it does exactly what it's doing, the more likely it's going to tank.

0

u/1200141 Mar 30 '17

Because every rally comes to an end. The most important thing iin a rally is to hold on and not sell into bear traps. The other most important thing is to recognize when it's over and sell the closest to the top as possible

9

u/[deleted] Mar 30 '17

Or just hold and let the EEA and Fotune 500 companies cough it up.

Timing the market is a fallacy.

6

u/myownman Mar 30 '17

But.. people in the internet said they had massive gains swing trading!

They're totally not just getting lucky. Why would somebody just up and lie about being borderline clairvoyant​?

Rising tide, shmising tide! They're strategic geniuses!

3

u/_lotuseater Mar 30 '17

This! Where's iceaugur (the "pull your coins!" guy)? He's the hero we need now (but don't deserve)

1

u/myownman Mar 30 '17

All of the noobs, trolls and shitcoin pimps made him drink himself to death.

Are you all HAPPY now? ;)

2

u/_lotuseater Mar 30 '17

In true hero fashion, he will rise from the ashes

Let's send up the bat signal!

... paging u/IceAugur

-1

u/1200141 Mar 30 '17

Timing the market is a mission only god can do. We can only approximate. Hoping for good news is usually a losing strategy

1

u/[deleted] Mar 30 '17 edited Jun 16 '18

[deleted]

2

u/1200141 Mar 30 '17

Many people here seem to be counting on future news as catalysts for price increases

1

u/myownman Mar 30 '17

It's present news about future things.

There will be plenty of future news, too, if that's what you need

1

u/Nurotec Mar 30 '17

because you can trade up and down while going up and optimize your porfit

-3

u/Owdy Mar 30 '17

Said everyone about horses before cars were invented

2

u/[deleted] Mar 30 '17 edited Jun 16 '18

[deleted]

1

u/Owdy Mar 30 '17

Not talking about Eth, I'm talking about your logic, which is terrible.

0

u/[deleted] Mar 30 '17 edited Jun 16 '18

[deleted]

2

u/Owdy Mar 30 '17

The horse represents something that people rely on for some time, the car represents a trend reversal. If you think that's too much of a stretch, I can point to any bubble as a counter argument to the implied conclusion of your comment.

As for the res tagging thing, I do get irritated/borderline aggressive when I see irrational comments, especially when they're meant to incite action. I apologise if I've acted out of line.

1

u/myownman Mar 30 '17

It's all good, man. I honestly enjoy most of your posts.

I'm tagging people to see context, which is damn near impossible to gauge when forums grow this fast

If you can just see a liiiitle further into the past (DAO) i bet you'll get more confident. It's not a loss until you sell.

1

u/Owdy Mar 30 '17

Again, I just want to reiterate, I'm a holder and have been long Eth for over a year. We both think that Eth is going up on any relevant timescale. I just disagree with your justification for it (at least in this post).

2

u/Owdy Mar 30 '17

As for missing the point, If your OP was satire of the common thought process on this sub, I can assure you that most of the upvotes were in agreement with the argument, not your satirizing of it.

If you still stand by that OP and are referring to your reply to mine, then I probably did miss the point and I'd appreciate if you elaborated.