Quote from: dmwardjr on May 25, 2016, 08:13:24 AM

Quote from: JayJuanGee on May 25, 2016, 05:08:24 AM

I don't claim to know a whole hell-of-a lot about ETH; however, from what i have been reading in the past several months (mostly since about the January's pump and continuing), there seems to be a lot of ETH fluff and not a whole hell-of-a lot of substance. Sure there are a lot of great ideas within the ETH space, but that does not mean that it is anywhere near to as valuable as BTC.. and one problem is ETH's various centralization areas (contributing to the pump, and soon thereafter dump), and another problem is that in the whole scheme of things, ETH seems to be very dependent upon the ongoing success of BTC.. riding on the coattails of BTC... yeah right sure, I will concede that there seems to be quite a bit of reverse price correlation between BTC and ETH, yet I would still conclude that it seems very risky to allocate any more than 10% of your BTC related investment into ETH (I personally have not put anything into ETH, but I can understand that others may think differently from me, and therefore I can reasonably understand someone who considers ETH pump potential etc and may decide to invest up to 10% of total BTC related holdings into ETH as a kind of hedge).

Sorry Fakhoury - I certainly don't want to go too far down the ETH rabbit hole - even though a lot of us in the BTC space likely recognize that there is a certain extreme level of hype currently surrounding ETH ideas that may in various ways distract from BTC fundamentals and the much more solid value that BTC has over ETH (mainly the decentralized and immutable components of BTC are something that ETH has not even come close to achieving)..

I sold my 2,300 ETH (approximately 64 BTC worth at 0.0268xx to 0.0275xx + trading fees when purchased on BitFinex) earlier today when I saw it coming back down. I sold it a tad higher than what I bought it for and managed to only lose 0.2 BTC because of fees. Also, when I said I'm officially 52/48 in BTC/ETH, that was only on BitFinex. I also have and trade Bitcoin on Coinbase and BTC-e. I don't keep all of my eggs in one basket in case one of the exchanges I trade on get hacked. So, I was 52%/48% into it for trading purposes to make gains and not for any thoughts of it being a legitimate player in crypto. Not enough time has passed to convince me of that.

Also, when I said 52%/48%, that was not percentage of what I have available to invest. That was only what I had on BitFinex. I initially had 130.2 Bitcoin on BitFinex. I purchased ETH [Only with funds on BitFinex] at prices ranging from 0.0268xx to 0.0277xx for a total of 64.2 BTC worth that included fees. That left me 66 BTC on BitFinex. I have approximately the same amount on Coinbase and half that amount on BTC-e. The reason I have half that amount on BTC-e is because it's harder to sell larger amounts on BTC-e than it is on BitFinex and CoinBase. 100 BTC is chump change on BitFinex but considered a damn wall on BTC-e. If we were to consider all of my holdings in various places, I'm 40% crypto (All BTC at the moment; I did have some ETH for approximately 10 hours), 8% silver, 15% gold and the rest in FIAT. I don't trade any stocks but I probably should. Wish I had bought stock in Amazon this time last year for instance.

You might consider my investment of 40% of my available funds in crypto as ludicrous. I'm not sure. I know some people think I'm crazy. However, I'm CRAZY about bitcoin. I even mine bitcoin. I used to mine it rather seriously for a home miner. I have 400A service at my house. I had 41 x S7's in my house at one time. Now, I only have 6 x S7's. I sold the rest on eBay the second week of March at approximately $820 each on average not including eBay and PayPal fees. The buyers paid for shipping. I absolutely LOVE Bitcoin. I always will as long as it's alive and kicking. I'm all in [so to speak] with everything bitcoin stands for! It's part of my being. My wife is witness to that. She cannot keep me quiet about it around friends and family. lol

I'm like you as far as the creators and investors of ETH being the ones who are propping it up to get it primed for a pump and dump. I'm all about pump and dumps. I turned 36 BTC into 110 BTC on the pump and dump scheme we had with LTC between April and June of 2015. If that's what they are really up to with this coin to make some relatively quick money, so be it. I'm going to try to capitalize from it from beginning to end just as I did with LTC.

I totally agree with you about the centralization of ETH and decentralization of BTC. BTC still rules in my play book and nothing else comes close yet. ETH has a lot to prove to convince me it can be a real player in crypto. In the meantime, I'm going to do all I can to create gains via trading ETH/BTC and ETH/USD. It's that simple. I personally believe it offers an excellent opportunity to make some extra BTC. I have a friend I chat with all the time on tradingview.com who already doubled the amount of BTC he put into ETH a couple of weeks ago and is buying another new car this week. I told him I'm not messing with it at the time. I wish NOW I had listened to him. I could of had approximately 194 BTC on BitFinex right now instead of 130 if I had invested half of my BTC on BitFinex a couple of weeks ago instead of delaying until today.

The main purpose of my posting the article here was to get opinions about whether or not ETH can be a real player in crypto. I'm a noob when it comes to ETH, DAO's and how it all works down to itty bitty details.

Thanks for sharing and not holding back your opinion and thanks for not cursing me out for sharing the article to gain opinions. Much appreciated!

As I told a previous member of the forum, Fakhoury, asked for my thoughts about ETH and DAO's in a PM a couple of days ago; if I thought it was a threat to BTC, etc... I shared what little I knew about ETH at the time. I ran across this article today on tradingview.com and decided I would share it with him. After further consideration, I decided to share it with the entire forum. Not to defame bitcoin or prop up ETH. It was simply to get insight from others who might know more. I purchased it solely with the intent to make gains in trading. Not because I believe it's a serious player in crypto. It will take several years to convince me of that.

I can see where others might misconstrue my statement about 52/48 BTC/ETH into thinking I believe ETH is a serious player in crypto. However, I assure you, that's NOT the case at all. I was saying that in terms of "trading" not "confidence" towards ETH. I by no means am confident about the near future of ETH as I am about BTC. However, I am confident about the opportunity to make some extra BTC by trading ETH.

Kind regards,

David

Great post!