I have no evidence for this more than anecdote.... but perhaps this roadblock for BTC will highlight some of the scalable strengths of Ethereum... which seems to be up 8 or 9 % today.
Anyone attempting to make strategic purchases and sales of cryptocurrency must contend with the fact that it goes up the day after $300m gets destroyed by accident. I'll bet two years from now I'll be upset that I spent $25k worth of ETH on a Porsche. But in the meantime I'm driving a goddamn Porsche.
One never knows... if the bottom falls out, or if another coin takes off... and your $25k of ETH becomes worth $0.25 of ETH... you'll be the fattest, happiest, sonuvabitch out there... driving a porsche or otherwise. (I doubt that will happen - I'm still just mostly glad that you took the plunge and did something fun with it)I'll be upset that I spent $25k worth of ETH on a Porsche
this has nothing to do with ETH, but... ...I bought the minimum car that had the dependability, performance and fun factor I needed for the minimum money I could spend. This has me in a fifteen-year-old 911. And we wonder why the kidz aren't buying new cars.
Yeah and can we talk about the fact that this is a statement that anybody is able to make in modern society? It's still amazing to me.I'll be upset that I spent $25k worth of ETH on a Porsche
In order to quickly get new coins due to the BTC fork, people had to get their BTC off of exchanges. Therefore, it's likely that BTC will be flowing back onto the exchanges over the next several days. This is likely to push up ETH and alts. But yeah, kleinbl00 is right. The best trading move is not to trade.
And to elaborate: All those fancy laws the SEC enforces to keep trading somewhat fair in the land of stocks? There isn't even a semblance of them in crypto. A state actor, underworld organization or institutional investor can buy and sell millions or tens of millions at a time and utterly swamp the market, or can sell, call the FUD fairies and then buy. Jamie Dimon, Sept 12: "It's worse than tulip bulbs. It won't end well. Someone is going to get killed," Dimon said at a banking industry conference organized by Barclays. "Currencies have legal support. It will blow up." Jamie Dimon's company, JP Morgan Chase, Sept 16: buys 19,000 BTC Can anybody else here go on CNBC and say "totally don't buy this worthless thing I'm about to buy $1.2m of"? No? Then presume you are not playing a level field.