What's up guys,
Wasn't planning to talk about the ETH price, but I read this article that I'd like to share with you and talk about it. Read along here: www.technologyreview...ess-he-takes-a-step/
Basically, Vitalik is saying that he intends to step down and stop developing ETH. Let me ask you this, is it a bullish sign that the main dev and founder of your coin is abandoning ship? Vitalik has been working for less than one decade on ETH. For him to be done so quickly with it should be extremely concerning to those who are wanting to buy into it. In fact, this changes my entire outlook on trading ETH altogether. I might not be willing to trade it at all. I'm not sure.
If something is going to change the world, wouldn't you as the founder be extremely interested in seeing out its completion? I've never heard of an entrepreneur who thinks his company is going to change the world, yet is completely unmotivated to continue working on it. Of course, he says that it's because ETH needs to be able to grow without him but that's bullshit. Look at Patrick Byrn of OSTK. He sells a ton of shares and then says to investors, "no worries, nothing to worry about here" and then price tanks. Guys, if you are selling something, it is because you don't think it will go up in value. If the CREATOR of ETH who has seen it 10,000x is saying he doesn't believe it will go up, perhaps you should listen.
There is one major difference between ETH and BTC. ETH needs MANY users to have utility. Bitcoin only needs two people to use it for it to have utility. ETH is not decentralized. It is not censorship resistant. It is a complete speculative bubble. There is no value here yet. I'm not saying there can't ever be, I'm just saying that right now, there is no value here and the network should not be worth 20 Billion.
I'm not sure if he has done this or not, but if he sells all of his coins, I would definitely sell any remaining ETH I have in any dusty wallets.
Don't lose all of your money.
-YoungShkreli
Wasn't planning to talk about the ETH price, but I read this article that I'd like to share with you and talk about it. Read along here: www.technologyreview...ess-he-takes-a-step/
Basically, Vitalik is saying that he intends to step down and stop developing ETH. Let me ask you this, is it a bullish sign that the main dev and founder of your coin is abandoning ship? Vitalik has been working for less than one decade on ETH. For him to be done so quickly with it should be extremely concerning to those who are wanting to buy into it. In fact, this changes my entire outlook on trading ETH altogether. I might not be willing to trade it at all. I'm not sure.
If something is going to change the world, wouldn't you as the founder be extremely interested in seeing out its completion? I've never heard of an entrepreneur who thinks his company is going to change the world, yet is completely unmotivated to continue working on it. Of course, he says that it's because ETH needs to be able to grow without him but that's bullshit. Look at Patrick Byrn of OSTK. He sells a ton of shares and then says to investors, "no worries, nothing to worry about here" and then price tanks. Guys, if you are selling something, it is because you don't think it will go up in value. If the CREATOR of ETH who has seen it 10,000x is saying he doesn't believe it will go up, perhaps you should listen.
There is one major difference between ETH and BTC. ETH needs MANY users to have utility. Bitcoin only needs two people to use it for it to have utility. ETH is not decentralized. It is not censorship resistant. It is a complete speculative bubble. There is no value here yet. I'm not saying there can't ever be, I'm just saying that right now, there is no value here and the network should not be worth 20 Billion.
I'm not sure if he has done this or not, but if he sells all of his coins, I would definitely sell any remaining ETH I have in any dusty wallets.
Don't lose all of your money.
-YoungShkreli
The point of this article was to bring attention to something I think is important. That is all. I do not care about ETH's current technical state, nor do I care about its future. I therefore am not intending to bash.
Try not to be so sensitive to news that isn't joyous - there is plenty of bad news going on all the time.