While writing this I'm busy trying to sync my Ethereum wallet. I made the awful mistake of not opening the wallet for a while and now I have to sync it. It's been at it for hours. It's so slow.
The first time I used Ethereum I thought it was amazing compared to Bitcoin. 15 second block times vs 10 minutes if I remember correctly. Of course, all you could do with it was send Ether from a to b. But it was cool, fast and fresh and I liked it.
I used to read all I could about Ethereum on their Reddit and was in awe of the tremendous potential this tech would have in the future.
My treat tonight. Bourbon barrel aged barley wine-ish 12.4% extra strong beer, O yeah
I'm still in awe of the tremendous potential it has and I can't be the only one because the price has shot up like a rocket.
According to Coinbase 3,000% in 2017.
Wow, that's a lot of gains.
But why? That's a question I'm trying to find an answer too. And I can't find a clear answer and it is starting to worry me a little bit.
There seems to be a lot riding here on future promises.
Lightning network, sharding, POS. Let alone all the ICO's that are hoping for an Ethereum network that can make this happen.
All of this is perfectly fine for investing at $5 Ether but at $368, you will need to have some serious balls hoping they can make this work.
I, therefore, feel that it's overpriced (currently) until more becomes clear. I'm selling a part of my holdings. My balls have been stretched to the max hodling this long and need some relieve.
If FOMO is a term than I think FOLE should be one too. Fear of Losing Everything. That's what I'm suffering from at the moment and it started today out of nowhere. It's my gut feeling. I tend to lissen to it.
I don't suffer from FOLE when it comes to STEEM because I can see where it's going in the future. It's also already working perfectly and it can scale. I also like the business model if there is such a thing without an owner :) It's also only around $2 per STEEM wich is not extreme at all in my mind.
There has been one thing I wanted to buy for a very long time but never allowed myself to buy because most of my earning after bills and living costs went into crypto.
I also think buying consumer goods is an awful idea from an investors point of view because these goods usually go down in value pretty fast but the thing I want to buy should last for 30 years.
It's called a Green Egg. If you know my blog you know how much I like grilling and this is the Rolls Royce of home grilling. Slow-roasted Pulled pork and ribs, awesome steak, pizza. I can see myself already there this summer with a nice Barrel aged beer to go alongside it.
Cheers!
Follow Me @exyle
I still hold some eth, but I sold quite a bit in the last few week. Didn't feel too good missing out on the latest pump, but I am reminded that the gold rush will have to end someday.
Like you, I am also feeling nervous of how many icos and tokens are dependent on the platform. One major scandal, from any of these, can set a boatload of investments back many months.
I agree with you @gigafart (wow, what a name!!!!) . Diversification is the key due to the volatility of cryptocurrencies
We share the same feelings. It just felt like the time to take some out. All the support Ethereum has is great but in the end, it needs to work perfectly. It can go either way. Looking forward to finding out :)
Ethereum "lost me" with the DAO hard fork. I sold it all and I don't care that the price went up. I like Dash and Steem. That's it.
I feel you, man. After the DOA I've been very reluctant to invest in any ICO on Ethereum. But I'm glad I stuck with it. I just logged into Kraken to see how much my first buy was. 10 eth for 23 euros. The regret feelings of not buying more are real...lol
You must be happy with the recent Dash rise! I think it's smart to invest in what feels right. Dash doesn't speak to me but at least we can share STEEM feelings :)
I'm so glad you profited from Eth! Way to go. Yes, I'm happy with Dash. I'm like you: do what feels right! Steem on bro! 😎
One such reason could be, when Putin met with Ethereum founder Vitalik Buterin to create National Virtual Currency and backed Ethereum to take over Bitcoin.. Ethereum market cap is edging close to Bitcoin... If russian and japenese invest in Ethereum, they can surpass Bitcoin's market cap very soon.
It still needs to work in the end. That's my doubt. If they can do it that would be great and I'm all for it :)
I think the same! https://steemit.com/ethereum/@spainman/putin-says-yesss-but
FOLE.... I feel like that, too :)
Always nice to read I'm not the only one.
I definitely understand how you feel about eth, as I feel the same way. A lot of promises, but at the end of the day it all boils down to one thing, "does the platform really work?"
Steemit is just getting started and is steadily growing organically. HF 19 should help this growth as more noobs will see quicker returns which will incentivize them to stay and spread the word.
Congrats on the Green Egg! As a fellow grilling enthusiast, I'm a little jealous. :)
This is key. STEEM works. it works whether the price is $0 or $10. and at $2 I feel the price is right too.
FOLE is legit. :)
True that.
The Green Egg is totally worth treating yourself too. I've wanted one for years. The part where you can make pizza on it is what sold me. Congrats on your gains!
so how do yall feel about bitshares?
I like it. Same tech as STEEM.
makes sense. I was thinking about some of this same stuff today - would like to blog it maybe later today if i have time.
Good anylsis @exyle all these altcoin are voliatile and might crash leading to huges losses. Do not ever lay your eggs in one basket , diversification is the key to success. Good to take out some gains in order to be on the safe side.
Strong beers are the best, imo good decision taking profits now it's gonna come down eventually :). M is forming might turn into bear market any day but thats just my speculation -resteemed.
It could rise a lot more. But It's indeed speculation and too much for me at this point.
It's never a bad move to take some money off the table,I get FOLE all the time in the stock market.Now I know what to call it thanks.
I have been fighting the urge to sell my two ether coins for weeks now. I basically bought with steem and zcash and etc that I mined like five months ago. Only, I keep watching the price go up and have been afraid to cash out and kick myself later. Now, the itch is back.
Can't fight th trend my friend.
Agree. Trend is up. Could be for a while as well. Until it's not. Guessing the top is impossible.
Ethereum has shot up fast and probably still has enough powder in the rocket for another burst, but I am taking my money off the table now... A few days early is better than one day late....
It's true consumer goods is not a good investment unless they can last for years.
Agree. This thing is awesome and it retains its value for a long time. Plus I will be using it a lot. Probably every day.
Congrats on your gains! It's inspiring to read!
Bitcoin is better than ethereum , from my opinion.
Your post are Amazing.... Love reading em.
I like this new term man!! FOLE, I have suffered the same and awaiting the next peak to sell a bit. It's an ongoing balancing act isn't it! We gotta save them balls from getting too stretched!
I doubt it will become a thing. But if it does. It's in the Blockchain under my name :). Yes overstretched balls is to be avoided lol
I sold most of my Ether around 2 weeks ago..when it was a little under 200 dollars (damn it). This price increase doesn't make sense to me either ,but also think Ethereum has a lot of potential.. it just needs to mature a bit more...
I hope hey can make it all work. But that's a gamble.
I just checked the price of Ether. Good timing man!
To get around "FOLE", one alternative is to withdraw your initial investment amount back into fiat. Afterwards, the rest is all upside (except in the rare case if it goes it zero someday, then at least you're break even).
Enjoy your Green Egg! They work great!
I got good part out today of my initial investment. But not all. But like you said the chance it all going to zero is slim. tbh. I feel a little relieved.
You gonna drop € on the Green Egg ?
Did I just read that correctly ? You are FINALLY going to give yourself a welldeserved gift ? Well Done.
You better have some BA de molen left next time I visit though ;)
I'm actually already starting to feel guilty about it and I have not even bought it yet....
Better go out and buy it then before you buy Cryptocurrency with the Fiat again ... go go go !!
I am selling most mf my cryptocurrency and I will be back buying after the 1of August
Need the cash for promoting
Putin. <3
Actually I think there is no beter investing than investing in consumer goods which actually let you live life! Of course not all must go into this but you get the point. O and I can also see myself sitting next to you while grilling on your BGE!
It's not so bad when it's quality consumer goods that will last for 10+ years and retain value. Would be nice if you can show me the ropes of the BGE.
Man I'll teach you everything I know!
ETH investors always look on the value of Bitcoin as reference. They are seeing that Ethereum has a lot of potentials with wider of things to offer than Bitcoin. So, it's a feeling that ETH has more to way up especially it is still behind Bitcoin's market cap.
Congrats Man.! Cheers!
nice post@exyle
Upvoted and following you!
Taking profits it is never a bad idea. I agree about buying consumer goods as bad one. If you want to have financial freedom, you should buy assets, not liabilities.
I agree, yet disagree. The same logic that makes me believe it will crash is what also could lead for it to triple again. Even if future promises don't work out, there's a lot of potential and that's why it's surging. It's okay to pull out and buy things you enjoy, but I certainly wouldn't pull out extra and have it sit in a low interest bank.
P.S. Thanks for sharing the green egg, never heard of it before. I've had a gas grill for 3 years now, but still struggle with timing. Hope some day I would be good enough to want/need one of those grills.
This is an article you have to read. it explains why ETH may go to $11,375 per coin by 2020.
https://medium.com/…/how-to-beat-fomo-what-are-bitcoin-ethe…
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Read it. I understand the reasoning. But Ethereum needs to work perfectly for this to happen. That's my doubt.
Good post, as I'm new to crypto currency all opinions help :-)
All kinds of gains... :)
never had a drink like that before, might have to get my hands on one. just don't sell ALL your Ether ;)
Big fan of the Big Green Egg. I'm late to the game for ETH. Dash appears to be the new rising star, yeah?
Pour me some @exyle 🥃😂
Ahh a green egg would be AWESOME! It will definitely give you a tasty summer. Cheers and Congrats
Even I think that this is perhaps a good time to sell. Also in August the rates shall be very unpredictable due to bitcoin fork. Buying at that time will be a good option since the rates will fall down I guess. Congrats for the self-treat!
BTC is good only as a gold standard. Interesting times ahead! That barley wine looks heavenly!!! Sent people to you in my last post. I even included your pic since it is so popular! Cheers!
very amazing info nice post @ exyle
Did you drink that bourbon, before of after you started struggling with your wallet, just asking? LOL.
I drank it last night as a small celebration :) I would recommend a clear head to anyone when transferring money :)
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Sup!! Man got good idea i follow you then follow me back