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/biz/ - Business & Finance

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49528737 No.49528737 [Reply] [Original]

Ethereum is dumping more than any alt because some insiders finally realized the first stage of The Merge didn't go as expected and they're selling before the official announcement. I just wan to kill myself.

>> No.49528767

>>49528737
so what
they will fix the issues, it will just happen later

>> No.49528829

>>49528737
This also would explain the stETH peg failing....it's all so tiresome

>> No.49528840

Why you was holding a shitcoin that constantly drop 5% more a day?

>> No.49528907

Or... maybe They want you to think this

and now They are here making these threads

and then They buy the cheapies

>> No.49528911

>>49528907
maybe you are They

>> No.49529044

>>49528737
>the first stage of The Merge didn't go as expected
Fucking source or you are larping. The merge of Ropsten went off without a hitch.

>> No.49529072

Ok peep, it's time say some words about Streeth NFT Bomb!


>Mints & auctions iconic Street Art NFTs
>KYC Doxxed Team and Audit by CoinScope
>Complete secured personal Vault

>> No.49529086

>>49528829
Calling it a peg proves that you don’t know.

>> No.49529114

>>49528767
>they will fix the issues, it will just happen later
"trust me bro", the source of all good news and hopes related to eth since late 2020

>> No.49530063

I will sell 2900 ETH if the price reaches $1300, I am just putting that info out there

>> No.49530159

I will buy 2900 ETH if the price reaches $1300, I am just putting that info out there

>> No.49531289

>>49528737
you retards realize you can literally listen in to the eth developer calls. then you would realize that the merge is fucked

>> No.49531300

>>49531289
where are the recordings

>> No.49531402

>>49531289
why is it fucked?
i watched the ropsten merge and all seems fine and dandy.

>> No.49531412

Go woke go broke

>> No.49531456

>>49530159
Take a look at the ETHBTC chart, buddy. It's going to fall a lot further than $1300, even if BTC were to remain at this price

>> No.49531503
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49531503

>trusting Dolphin Forest

>> No.49532008

>>49531402
7 block reorg happened on the beacon chain.
>>49529044
If "without a hitch" you mean slightly before the ropsten merge a malicious attacker gained control of the entire PoS chain and reorganized blocks to their liking while ETH devs just kind of shrugged it off and continued like nothing happened then you have a funny definition of "without a hitch".
>>49528767
We have been waiting atleast since 2015 for PoS and while progress has been made it's going to be a long time before anything meaningful actually happens. The merge won't even fix ETH's transaction fees or scalability. All of that stuff comes later in the roadmap afterwards and who knows how long that could be after the merge finally does happen.

I'm slowly becoming convinced that ETH is pretty much just a premined securities scam which is only popular because it was the first smart contract chain and was able to garner a large network effect. Competitors are going to rape ETH into the ground if they can't get their shit together in the next few years and it looks like that's not going to happen at this rate.

>> No.49532058

>>49531412
how did ETH go woke?

>> No.49532126

>>49532008
would also explain why Dolphin Forest is abandoning his brainchild

oh well, on to Polkadot

>> No.49532142

>>49532008
meds

>> No.49532156

>>49528907
It's also this. They play both sides so that there is profit to be had regardless of the outcome

>> No.49532171

>>49532126
>Dolphin Forest
who

>> No.49532181

>>49532008
>A problem happened on testnet 2 weeks ago is why we're dumping now

Take your medications, schizo.

>> No.49532205

Are they trying to merge ETH 2.0 onto mainnet right now?

>> No.49532225

>>49532171
the woman in OPs pic

>> No.49532241
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49532241

>>49532171
it's his real name in chinese ok??

>> No.49532257

>>49532181
he is unironically correct

>> No.49532281

>>49530063
I'll sell 32 which I bought $400 because I'm sick of paying attention to these faggots

>> No.49532345

>>49532257
No, he is not. The broader crypto market is still immature as hell but for eth and btc, news circulates in a matter of minutes.

>> No.49532376

>>49532281
imagine selling when its 70% down from the ath lmao
why do people even do this

>> No.49532389

>>49532376
Because when it drops another 35% or 55% later in the year they want to get it a bit cheaper

>> No.49532404

Minerbros… we can’t keep getting away with it

>> No.49532423

>>49532181
You do realize that most of the people who follow crypto are retards who don't understand how tech works at any level and are only here because their speculative internet gumble gum tokens are "going to the moon" right?

Events like these which threaten the entire security of a chain don't spook the average investor because they don't realize what a big deal it is. Price isn't going to tumble instantly after an event like this because people with more knowledge also tend to have a lot of money and they will exit by selling over time because they don't want to spook the baggies who give them their exit liquidity.

If this had happened on mainnet then the price would have gone Luna on everyone's ass as the attacker could literally just reroute transactions, steal a shitload of money and run. Eth devs have to figure out how to prevent this from happening again before the merge ever happens which is going to take awhile and might require a minor or major rework of Eth's PoS model.

>> No.49532426

Can't wait for ETH to lose it No. 2 spot

>> No.49532497

>>49528907
And also... leddit. I mean you.

>> No.49532565

>>49532423
It didn't threaten the security of Ethereum though, it was an event that could only happen on testnet due to its configuration and relatively small number of participants. You're basically just saying we're dumping because Eth investors are 2 weeks behind the times, which means by the end of the weekend we'll be back up above 1700 as the realization that it wasn't an actual security breach circulates.

>> No.49532686

Bottom is likely around $1100, but no way to know. I'll probably be buying around 20 at that price. I would recommend having at least 32 to be a validator

>> No.49532760

>>49532389
yeah and in reality most of the time when you try to time the bottom you miss it and you end up buying back higher than you sold

>> No.49532805

>>49532423
so which ETH killer should we jump into?

>> No.49532880

>>49532565
I'll concede that you are right about that but a more well developed consensus mechanism should've been able to prevent this kind of fuck up even if it happened at a scale which is significantly smaller than what will be seen on mainnet.

There are a lot more attack vectors which have yet to be tested though and Eth's PoS model leaves a lot to be desired. It especially falls short around the slashing mechanisms they insist we desperately need for some reason. Slashing makes it impossible for staked ETH to remain liquid and we are already seeing third party staking services which give users the option to lock up their ETH while distributing a different pegged token which can remain liquid. These services will provide a massive point of centralization which imo defeats the benefits slashing may provide entirely.

I guess all I'm trying to say is that a lot of what ETH is trying has never been done before so while it is spooky to some extent it is also innovative and I can't give ETH devs shit for that but when I look at alternatives which have been around for awhile now I see a lot more competent work being done than what I'm seeing from ETH's PoS.

>> No.49532985

>>49532805
nervos

or better yet, stop gambling on L1s, accept the future is multichain, and buy LINK

>> No.49533060

>>49532880
>Slashing makes it impossible for staked ETH to remain liquid
but that's the point, if ETH is liquid while staking it provides zero incentive against executing an attack and pulling funds, which is the whole point of PoS

when will you retards learn that PoW is the only way?

>> No.49533073

>>49528737
>Ethereum is dumping more than any alt because
It's just dumping now because eth always has a delayed reaction. Was the same when Arthur Hayes called it a double digit shitcoin and it fell to 90s. Eth always falls weeks after btc.

>> No.49533104

>>49532880
Eventually do you think it will reach $10k? Been in the market since 2017 saw it go from 1400 to 80 and then back to 4900 and now down to 1k.

I bought at different times. Like $100, $200, and even $3000.

Should I keep buying every month ? Cute rlt have around 290 and trying to get to 320 eventually ..so that hopefully the staking of it goes well will get me some decent side income

>> No.49533122

>>49532805
Well it's hard to say since there are so many but I also wouldn't dump ETH entirely. ETH is still the biggest and most relevant smart contract chain and while it's fucking up it's not going to go to zero anytime soon and it's also really difficult to tell which competitors are actually competent enough to fix the things which ETH hasn't been able to.

I think the Ouroboros based PoS chains (Cardano and Polkadot) are probably the best alternative we have at the moment. I also really like Algorand but while the tech is solid the token distribution is really shit which could lead to centralization issues down the road.

If ethereum loses it's market capitalization to competitors it's not going to be something which happens over night. It's better to just stay as informed as you can and follow whichever smart chains have the best narratives while also maintaining good tech over the next few years. Stay away from VC scams like Solana and Avalanche too. There are a lot of positives to having VC capital backing the project but honestly centralization to that degree defeats the point of blockchains entirely so while projects like these can make big gains they are not viable long term alternatives to Ethereum.

>> No.49533197

>>49530063
Do it now bro, feed my x10 short

>> No.49533248

>>49533122
kek ethereum was premined too

>> No.49533251

>>49533104
It could reach 10k. There is nothing really stopping it and while there is a lot of FUD constantly being circulated ETH is still the king of smart contracts with the largest following and TVL by miles. While I've been talking up it's competitors in this thread they still have a long ways to go before any of them can hope of catching up to ethereum and even if ETH loses it's #2 spot in the future it will still be worth much more than it was in the previous bullrun I think.

If you are that invested then it's never a bad idea to keep following through with your strategy imo. Just adapt to the market as it changes and don't keep all your eggs in one basket.

>> No.49533266

>>49530063
good. do it now. transfer it to btc if you have any brains. the alt market's goose is cooked. now it's just being left in the oven to turn to charcoal

>> No.49533301

>>49533248
Already mentioned that in my first post. It's a problem which people don't talk about enough. Eth is decentralized a lot more than the other premined coins but It's been around for long enough that it doesn't matter as much as ETH has been more evenly distributed through time. You are right though that ETH is a lot less decentralized than most people realize.

>> No.49533448

>>49532376
Because the time I'm spending researching how to run a staking node and whatever the fuck they are doing is better spent elsewhere now that this shit is going back into hibernation.

>> No.49533774

>Ctrl+F
>"stETH"
>1 post which is also wrong
Yeah, stay clueless, /biz/

>> No.49534669

I would like to see Dolphin Forest fight Fat Ugly Trollman in a cage battle.

>> No.49534683

>>49533774
Do tell, i have seen that name thrown around the last days - what's does it mean? Not i will not google it and yes i might leave this thread before you reply.

>> No.49534741

>>49528737
Ropsten is having issues with blocks being dropped. Anyone can verify that themselves, transactions are failing left and right. It's been making the rounds on public Ethereum dev communities before the dump even began, not even insider info.

>> No.49534778

>>49533122
How the fuck are you supposed to "stay away from VC scams" when they literally all are VC scams, including ethereum itself?
How many cycles do we have to go through before people realize the only thing you can count on over the long term in this space is Bitcoin?

>> No.49534800

>>49533122

whats wrong with Solana and Avalanche?

>> No.49534820

eth is being sold by the last of the normies still holding who heard on the news that web5 is coming

>> No.49534832
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49534832

>>49532181
>>49532142
cope

>> No.49534858

>>49529114
>software doesn’t get better

Kys

>> No.49534881

>>49531456
This. ETH is going down to at least .03 BTC if not lower before it’s bottomed out

>> No.49534904

>>49533774

Yea and celsius network keeps dumping. Thank god.

>> No.49534951

>>49534683
Celsius (their coin has been dumping btw, ticker CEL) has a bunch of ETH debt but they don't have the ETH to pay them back with, because they have it in stETH. Lenders are gradually asking for ETH back, but they can't dump their stETH for ETH on the open market because the liquidity to trade it 1:1 isn't there. Lido Staked ETH is (probably) fine and once the merge completes it will be worth 1ETH, so rn there should be arbers plugging that gap, but there's possibly about to be tons of stETH dropped on the market, and the merge date still isn't set. It's a really weird mexican standoff. Right now Celsius is probably negotiating with some OTC firm

>> No.49535018

>>49534778
The top 1 or 2 always stays in the top. Amd vs nvda. Msft vs aapl. Empire strikes back vs a new hope. No one ever talks about the other spots. Raiders of the lost ark vs temple of doom. No one talks about the crystal skull.

>> No.49535077

>>49528737
IT WILL GO BACK UP

ETH WILL BE 10K EOY

>> No.49535110

>>49534800
People say they are vc backed when in all actuality stupid pajeet third worlder retail isnt pricing us out of every chain its VC’s. The margin between how much of SOL and AVAX’s current holdings are vc vs retail compared to other chains is probably minimal. Even the ico’s vc holdings of other PoS and nakamoto coefficients are similar or worse. SOL and AVAX are unironically in the top 10 for how decentralized they are based on whale holders needed to collude a shutdown.

>> No.49535120

>>49528737
*laughs in bsv*

>> No.49535327

>>49528737
They're going to sell out Vitalik sooner or later. At this point, it's an open secret he's a pedophile. Really sad, I didn't want the ADA gay to have any victories under his belt.

>> No.49535392

ROPSTEN IS A FAILURE
I REPEAT
ROPSTEN IS A FAILURE

>> No.49535429

>>49532171
>>49532241
it's acrually pig forest

>> No.49535555

>>49535429
Buta 豚 + Rin 林 = Buterin
I guess Japanese readings of kanji are easy to him when he can speak Chinese.
https://youtu.be/KJetJ9d0Ew4?t=16

>> No.49536326

>>49535018

So eth and btc?

>> No.49537251

the sooner you people realise ETH is heading for $300 the better it. If you are holding then sell and buy back lower, if you are awaiting on the sideline with cash then continue saving as much cash and blow your load when it hits $300

>> No.49537612
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49537612

>>49528737
>they're selling before the official announcement.
Yeah. I'm part of those that sold cos it's damned for now. I might as well use the proceeds to buy some KOL since it's gonna get me some good side income.

>> No.49538151

>>49528737
Token not needed!

>> No.49538213

>>49528737
false. they already announced that the ropsten merge went well. there are two testnets left and the date for the late august merge of the main net remains unchanged. go ahead and kys anyways though