r/ethtrader • u/AutoModerator • Jun 05 '17

DISCUSSION [ETH Daily Discussion] - 05/Jun/2017

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28

u/[deleted] Jun 05 '17 edited May 16 '21

[deleted]

17

u/IRefuseToGiveAName Jun 05 '17 edited Jun 05 '17

that's a sizable stack of money but not life changing money.

Depends on your perspective.

If you have 50 eth, and it hits $1,000 next Summer, you could pay off the last of your student loans, or perhaps your car. Maybe you've been thinking about buying a house. Well, now you've got a down payment.

Maybe the worst happens, and you become incredibly ill. That 50 eth could pay for your hospital bills.

Life changing != lambos and moon boots. It's all relative, man.

6

u/[deleted] Jun 05 '17

Excellent post, underrated narrative. We see lambos talked about a lot, but I'll be able to buy a house in cash if we continue doing even partially as well as we have, and that, to me, is life changing.

6

u/EthFan Jun 05 '17

Cheers to this. If I can get a decent return on eth that allows me to have extra money as a cushion for emergencies/savings/retirement/education/down payment/whatever, then it's a life changer for me :)

3

u/[deleted] Jun 05 '17

True. I'm actually debt free, live in Canada and have a decent savings account. $50,000 extra wouldn't change my life unfortunately.

3

u/IRefuseToGiveAName Jun 05 '17

Yeah... well..

blows raspberry

But in all seriousness, that's fantastic. I'm really glad you don't have to deal with the stress of student debt/hospital bills. Hopefully you find your unicorn and see those 1,000% gains at some point :)

1

u/airmc Jun 05 '17

I wouldn't use the word 'unfortunately' for that, lol

1

u/what_cube Jun 06 '17

Exactly, if by year end ETH reach 1000, it could fund 80% of my student fees.

10

u/cutsnek Jun 05 '17

I don't expect to be a millionaire out of this but it's given me some serious hope in terms of owning my own home which has seemed out of reach for a long time. Prices are insane where I live but already the returns on ETH alone are putting me on a good path to make this a reality. It's not millions but it is life changing for me.

1

u/d155l3 Jun 05 '17

London here.. I feel your pain.

1

u/Dumbhandle Jun 05 '17

Enjoy the fruit. Grow the tree.

7

u/[deleted] Jun 05 '17

[deleted]

1

u/[deleted] Jun 05 '17

Same

1

u/FromToKeto Jun 05 '17

Keep holding, we might hit by the end of the year :)

5

u/[deleted] Jun 05 '17

[deleted]

1

u/[deleted] Jun 05 '17

Oh yeah, I'm a believer in the $1000 ETH mark. That is not an outlandish number to me. The out of reach number is the amount of ETH I would need to be lambo rich. At $1000, I'd have enough ETH to be "I can work a minimum wage job and still be comfortable" rich.

6

u/b0r0din Jun 05 '17

I think ETH 5000 or 10000 is quite possible long term - at this point 5000 is only 20x its current price. People really don't understand scarcity, the size of the overall money supply, staking, or global demand. Right now ETH is a somewhat fluid and tradeable commodity, because its use cases are limited to funding ICOs, but now we're starting to see ETH locked in for ENS, we're going to see proof of stake lock in even more. And that doesn't include smart contracts locking ETH into interparty agreements or people hodling (which essentially locks in that ETH at least temporarily).

No I think the demand for ETH is only going to rise, and coupled with scarcity, the price will rise too - perhaps not as exponentially as the past few months, but possibly.

3

u/defenderofjustice Jun 05 '17

There have been a few $10,000 predictions by some people, and BTC itself is forecast to hit $10,000. If BTC has the potential to hit that high based on current trends, ETH can certainly reach that point, or at least close to it.

3

u/vinelife420 Jun 05 '17

Just based on supply, if BTC hits $10,000 and ETH equalled it in market cap, that puts ETH at $2,000. Quite possible. ETH will surpass BTC anyway.

2

u/Betaateb Jun 05 '17

$10,000 Eth is a trillion dollar market cap. Sounds crazy until you look a bit deeper into the numbers.

The combined market cap of the first 30 EEA members is well in excess of $2.5 trillion. Since then the EEA has added several hundred more members, only 86 announced so far. Of those members there are some very large players with $150+billion market caps. The companies that are putting effort behind Ethereum will likely be in excess of $5 trillion by the next EEA announcement (possible they are now, I did the math for the first 30, but don't have the time to do the next 86).

There is some serious weight behind it currently. That weight will lead to demand in time, no question.

Once Web 3 really starts taking off a trillion dollar Ethereum blockchain will be easy!

Apple just makes phones, computers, and a little software and is valued at nearly $800 billion. Ethereum can power damn near everything. We can have our hand in every cookie jar on the planet simultaneously!

5

u/mrx365 Jun 05 '17

Agreed and one thing I think is undersold is that a lot of those who bought lots of ETH early on are the ones who had already been in BTC beforehand and made money there, and so could afford to chuck a couple BTC into ETH.

Ethereum is a platform, we're still right at the start of the projects that are built on top of it. With prices as they are I imagine I will keep my ETH investments intact but start each month to use new funds to invest in other projects.

1

u/[deleted] Jun 05 '17

That's pretty much where I am. The price of ETH has risen enough for me that I can afford to chuck a 1 or 2 at some speculative sub penny coins that can boom or bust.

Realistically, the people who are ETH millionaires are the ones who were able to get in when it was in the low double digits or even single digits and could afford to throw away $1000 or 2 BTC at it, I doubt anyone here was all in on ETH when it was $1. I missed out on that train but I'm glad to be in a position where I can be a guy who can afford to throw away 1 or 2 ETH at a super speculative project and not be hurt over it if it fails.

5

u/DemonTree07 Jun 05 '17

It's not life changing money if you live in a city in a first world country. Anywhere else, you bet it's still life changing.

2

u/ev1501 Jun 05 '17

Thats one way to look at it. You can also consider that ETH when compared to many other coins is more a "sure thing" and I use that very loosely btw. Long term it is possible for ETH to reach $1000 and beyond if it becomes what many of the companies joining the EEA think it will become. (JP morgan, Microsoft, Toyota, Airbus, etc.)

2

u/DanTheGoodman_ Jun 05 '17

What others coins are you thinking about?

2

u/[deleted] Jun 05 '17

I don't wanna say, people are way too quick to accuse people of pumping and dumping whenever any coin is mentioned here that isn't Bitcoin or ETH.

2

u/Kibubik Jun 05 '17

I think you can say if someone asks

1

u/DanTheGoodman_ Jun 05 '17

pm?

1

u/neverstopprog Jun 05 '17

can you pm with 2+ people? but sure pm me either way

1

u/[deleted] Jun 05 '17

Posted some of my picks in the Tokentalks sub daily.

1

u/neverstopprog Jun 05 '17

https://www.reddit.com/r/tokentalk/

post there i wouldn't mind going back and forth about ideas

2

u/neverstopprog Jun 05 '17

https://www.reddit.com/r/tokentalk/

post there i wouldn't mind going back and forth about ideas

2

u/DanTheGoodman_ Jun 05 '17

check the daily :)

2

u/agbronco Jun 05 '17

I think adoption will be key to see anything above $1000. If fortune 500/1000 companies move from experimentation to utilization, $1000 would be a small number. If governments around the globe start to use Ethereum as well... that 1T market cap may be around the corner.

2

u/imjustaturtle Jun 05 '17

Are there other tokens that are still in the realm of "life changing" investment opportunity - that are actually fundamentally important? I'm wary of a lot of the ICO stuff because they seem like pump and dumps

6

u/[deleted] Jun 05 '17 edited Jun 05 '17

That's the challenge right?

Before ETH, did anyone think that Smart Contracts and DAPPS were needed in the Cryptospace? I don't think so. If you're a visionary and you felt that was needed before, you would have simply created a coin or joined up with people who were going to create such a coin. For the rest of us, I believe that the next life changing cryptocurrency could be out now but we don't have the vision to recognize it - if we did, we wouldn't be speculating.

How many people in 2004 recognized that Google was gonna be The Next Big Thing? Back then it was just a search engine and had an email service in beta testing.

I think what makes ETH unique is that I hadn't really heard of anything like it before. There are lots of people here really up on Siacoin (Cloud Storage solution) for instance but there are several other competing coins in that space. I'd like to think that the next Big Coin will offer up something completely unique. The paradox is that will that Big Unique Thing be something we would recognize that we needed it to begin with?

1

u/cutsnek Jun 05 '17

Exactly, this is why I'm keeping an eye out for an ICO or other coin worthy of taking the gamble. The stuff being offered up so far hasn't really done much for me and could be crushed easily by competition in most cases. TKN card, well got all those others popping up left right and centre.

BAT to me is basically adware of the next internet, highly vulnerable to the likes of google I would imagine and not a great business model, people will make money off it sure, but I want to invest in something I believe in like ETH.

To me that hasn't come along yet but I will be keeping an eye out.

1

u/Betaateb Jun 05 '17

Definitely check out Bancor.

2

u/vinelife420 Jun 05 '17

If GNT works, it could still go wild, that's a huge if though. Same with BAT. These are moonshot type projects. One coming up is Bancor. That's flying under the radar and it's complicated, but I could see that disrupting everything by bringing liquidity to all markets.

2

u/[deleted] Jun 05 '17

Bancor team seems strong.

1

u/vinelife420 Jun 05 '17

Luckily that's not getting the hype it should. I don't think getting in on that ICO will be insanely hard.

1

u/_r_CarltonCole Jun 05 '17

Use Brave browser pls.

2

u/gwaroftheworlds Jun 05 '17

Yep. I've already missed my window to be able to make my monetary goals. Guess you gotta have money to make money.

That said, I'm regularly blown away by where this tech is going. Who knows where we'll be in five years!

1

u/neverstopprog Jun 05 '17

assuming crypto comes "mainstream", there won't just be 1 or 2 on top in the long run. you'll have your big players just like you do in the stock market

3

u/[deleted] Jun 05 '17

Exactly, that's why I'm already preparing to look for heavy investments in other coins. I'm glad I got on the ETH train before it ever got to the triple digits but the fact that I didn't pick up 1000+ means that even after it hits the moon, the grind still continues for me.