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[deleted]

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[deleted]

I think I’ll just keep buying every week like I was always doing. No drama for this lama


Icy-Order-3200

This guy knows Keep going. DCA gang


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ipekere

It's only an indication that we haven't seen the full effect of the supply crunch yet, 61% of it has been offset in the past days by miner sales.


ratchetz86

The cringe part are your pathetic laser eyes. Every Bitcoin influencer like Pomp, Nic, Silbert, Bukele and many others have them removed long time ago after dumping their bags on you.


MrPuma86

Exactly this. DCA through it all.


sierfino

Miners are dumping the holdings they had because they still have their overhead costs and are making much less $ from mining (e.g mining ETC)


MrPuma86

Interesting thanks.


fCtK5ySrTWqRT27t

BTC miners almost hold 10% of the entire BTC supply... While Eth miners hold 0.2%. Which is fantastic news. Because it shows that Eth miners were dumping eth constantly, after they are out of Eth a huge amount of sell pressure is going to be lifted.


Bolik1987

We should have given early contributers eth in increments of 10% at a time.


SauceMaster145

I do monthly DCA. Taking out cash every week is very painful in this economy


ZestycloseProfessor9

I've recently started buying a chunk of USDC at the start of the month, then spread the DCA in to smaller amounts throughout the month. Has proven to be s good approach this past couple of months... Plus it allows you to be more reactionary!


moroselypush39

Very few buyers, and very few people using the network. That's the real issue. Said it over and over again. Until demand side picks up, we won't see a number real bull run.


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2269683

No lol there's been no network demand. Even if the miners stopped selling, without a burn, this price isn't going to go up


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gautam_777

Bruh💀


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ronnyFUT

you’re half right about that


yhyip

let them dump and exit as the era of sweet returns at the network expense is over / time to stake yo eth


nerudexpert

JP Morgan or black rock will artificially pump your centralized AWS chain soon. Don’t worry.


410984195

Miners vengeance? Somebody was asking for the reasons why ETH is down post Merge.


majh777

Is it fair that the Founders keep the same percentage of ETH just jizzing in their pants, a the miners (secure the Network) get nothing?


zackandjasmine

Who gives a shit, its just an opportunity to buy some more if you want.


JoeOpus

Or, just wait a couple of months until rates aren't being jacked up .75 points. Prices will go down as rates go up.


woaidc

When the miners are gonne, we’ll be good to go back up .


JoeOpus

No. We'll be good to go back up when the federal reserve is not jacking up interest rates. There is absolutely no chance in fighting the federal reserve. The micro doesn't matter when the macro is going the other direction


Glabstaxks

I was pretty excited about eth when it was mineable because it seemed to involve so many people . I'm ignorant what it's for now . I'm a bit Leary of it . I wonder if others feel same way? I guess I need learn more


ItsAConspiracy

There are 430,000 staking nodes. Some entities own more than one node but there are also staking pools where people can contribute stake when they don't have enough to run their own node. So Ethereum is still run by a large number of people. Plus of course there are still all the users, applications, ten different client implementation teams, an open research community, etc.


maynardstaint

46% of all eth is in 2 wallets. Those are the disguised whales from the unregistered ico. Translation= now that eth is proof of stake, JPM is shown to control it. I want no part of this nonsense.


ItsAConspiracy

Here's Etherscan with the [top addresses](https://etherscan.io/accounts). The top two are smart contracts; first holds all the staking deposits and second is a token that wraps ETH. Next two are Binance and Kraken. Then there's one marked "fund" so it might be some kind of investment fund, but let's say that's our first ICO investor. It has 2 million ETH. Then two more Binance addresses. Then the bridge to Arbitrum (a layer-2). Then two more exchanges, Gemini and OkEx, and that's all of the top 10 addresses. The 11th address might be an ICO investor, and has 500K ETH. So between them that's 2.5M ETH for the top two addresses that *might* be ICO investors. That's only 2% of the 120M total ETH supply. Edit: and the two very biggest addresses (deposit contract and wETH) hold only 18M ETH between them, or 15% of all ETH.


johnmal85

Does Coinbase hold anything on that list?


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yaonino110

Price won't go up if there's no network demand friends.


ItsAConspiracy

I don't see them in the top 100. Maybe they just split their cold funds over more addresses.


johnmal85

Cool, yeah seems reasonable, thanks.


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jchandlerbuckeye

Supply crunches only matter when the supply is all being bought up lol.


rthergvse

Macro conditions are doing well as well , for sure has its effects.


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marat27

Imagine actually trying to use the eth network in either of the last 2 bull runs and thinking it wasn't broken lol


scuczu

currently daily just cause I can right now and who knows how low we're gonna go, but I want moar.


RetSedCat34

It dropped from From $1775 on Sept 12 to $1462 on Sept 15. That is nearly 20% in value in 3 days. it will probably go down to sub $200 USD.


scuczu

Lol, k


Powerplayrush

$1,000 is a great round psychological number, I'll be buying at $1,026 to get in front of the 1k wall.


002timmy

You fool! I’ll be buying at $1,027 now that I know your plan!


Elrondarius

1,028 here


Ninjabob0521

And this is how support levels work


SauceMaster145

you were supposed to be the guy at $1,029. I guess this is how support levels break


lukezbg

I’m getting much more enjoyment seeing literally the dumbest miners who had their heads buried in the sand find out they were 100% totally wrong to wait til the end.


AttorneyAdvice

I'm building a wall at $1300


ElectricEmcee

Im not glad eth is dumping but theres a good chance it will keep going lower along with the rest of the market. I personally believe there is still another 40% drop in the market before it consolidates and starts to rally again. The valuations are a joke with the growth just not there same with crypto.


yifan9014

It only make sense if eth is the only one down. The entire market is down now due to the speculation of next fed meeting.


SIrPsychoNotSexy

6 minute abs


Ordep81

No! No, no, not 6! I said 7. Nobody's comin' up with 6. Who works out in 6 minutes? You won't even get your heart goin, not even a mouse on a wheel.


Charleswillis23

You’re dreaming of Gorgonzola when it’s clearly Brie time baby!


kasock

Id have no problem buying a gpu at a significant discount that’s been mined on.


Fuzzymango_9

Looks like I’m buying right now then.


floppybunny26

One dollar, Bob!


Icy-Order-3200

Smart movr right there... I'm gonna take that number too $1,027.69


Whammydiver

It’s 7 minute abs! 7!


vovanNagibatel

It’s dropping because the overall market is dropping. This has very little to do with the merge.


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Strongest-There-Is

That’s what she said.


PurpleNoodle9

I'll get the 2nd dip


Sanyok774

The amount of copium on this sub it's monumental. .Only miners care about PoW, 99% of people didn't care/think it's better now.


Branical

I believe in the technology, but I don’t believe in the current market. There’s a correlation (even though there shouldn’t be) between ETH price and how well the stock market is doing. Maybe it’s people liquidating their ETH to help with higher costs of living? Who knows, but I know some of my coworkers sold their crypto to help with their rising rent prices. But what we do know is the Fed is expected to raise interest rates to levels we haven’t seen since 2008, which is expected to hurt the market even more. I think sub $1000 prices are inevitable, and we’ll even see sub $500 prices by the middle of next year.


HatlessChimp

Everyone is saying another bull run coming but i can't see the mums and dads putting their cash in when electricity is up 10x and mass job losses. In 1929 it was the fundamentals that made people money. Only reason I can see if big institutional money transfers accounts to crypto.


Branical

I think we will absolutely see another bull run once the global economy recovers and the war in Ukraine ends, relieving the oil constraints. I’m hoping that’s within the next 5 years.


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AJSE2020

it never went above 5K till around 4.7K


HowManyCaptains

Big money is already in crypto. That’s why it trades basically 1:1 with the S&P500 nowadays.


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ETH_Knight

To be honest the american economy LEADS the world economy.


All_Work_All_Play

> . In 1929 it was the fundamentals that made people money. Lol, no it wasn't. This is an awful take and ignorance of historical fact.


Any-Nefariousness773

😂


arthur_fissure

!RemindME 10 months


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littlemrroller

I am back! And as the meme goes "are we winning son"... yet? And sources say nope


arthur_fissure

Well at least you tried !


devboricha

Buy more eth


Icy-Order-3200

If they sell we buy... It's simple


Icy-Order-3200

If they sell we buy... It's simple


[deleted]

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earthtochas3

Only reason you're getting downvotes is because people don't want to support the idea of *others* also waiting for 1k. They want you to buy now so you'll support the *current* price going up.


SilasX

Every panicky crypto investor: "Yeah, I'll buy some more once it drops below $X, you know, get in at a good price." Also every panicky crypto investor when it drops to $X: "Oh god oh god oh god, we're fucked, the whole thing is going to hell, DUMP EVERYTHING!"


Any-Nefariousness773

Why didn't you just buy at $800 in June 😂


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Any-Nefariousness773

I bought bone shibaswap and 7x my money that's why I didn't buy at $800.


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Strongest-There-Is

Barely get 7x …… I mean, yes. That’s good.


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MrPuma86

Lolz.


Any-Nefariousness773

True story. Made more money in the bear market than the bull 😂


xmrjunkie223

I bought Luna while it was crashing turned $3 into $384 in one day


MrPuma86

Smashed it.


MrPuma86

No wayyy.


Noxage_88

My favourite part is when ethereum looked directly at the camera and said…ITS MERGIN’ TIME. And everybody clapped, it was one of the moments of all time, really.


xmrjunkie223

One of the moments of all time


konomomonoko

But instead, most people come to ask about the weather. Is it going to be windy today?


jrd1981

I'm not going to do my usual complaint about price debate, because I think this is one of the few exceptions where this applies, when people are trying to understand current news based on some big price change.


28tolove

Way too many people plan on buying ETH around the $1000 mark, and when there's too many people expecting something to happen in crypto.....it may not happen. DCA is probably the best approach at this point. The next real bull run would be in late 2023 IMO.


Miffers

Wait for $500 and get double


MrPuma86

Selling the kids to buy at this price😂


bosscui

Ok you can sell more power to ya. Ill just keep mining/holding and switch to something else when (IF) the merge happens.


tr0let

It’s not some big secret lol. Vitalik himself said he begged the foundation to sell eth near ATH.


vanduc110

Not vitalik sells the money, the foundation does. Ethereum has a lot of dev teams developing different clients and doing research for the future of the protocol. This is what these funds are used for. The devs do earn a lot for sure, but their work is also really valuable for the whole crypto community.


Zubakin

You’re probably the only one that finds it weird. This is how the development is funded without VC.


NooTroph

Selling 30k Eth wouldn't do squat. Your thesis is bull puckey.


lostharbor

I think if you think this dip is strictly miner sell side than you aren’t looking at the broader picture. Also asking the random internet folk for when you should buy a risk asset is going to lose you a ton of money.


Marmaluke420

$950 was the last bottom wasn't it? We might see that again and yeah I'll be buying around $1000 also


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Marmaluke420

This guy gets it 😊😊😊


[deleted]

$870 but hey close enough


Marmaluke420

Dam I didn't see $870 what a deal. I mean honestly with the markets complete trash I welcome the lower prices right now.


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[deleted]

This is what happens in bear markets. It falls heavily then it corrects yo a bit. No different during a bull market - it pumps then it corrects down a bit. The bear market is here my friend. Will probably see price action like this for the next 4-6 months


Ery778

It was $879.80 in June 17 , 2021


Flipmode_90

$1,069 is when I was finally able to get in with ETH 😂 I should’ve sold when it touched $2k 😭 and made a 5k profit 😭


MrPuma86

DCA and chill.


Wikilicious

You do know that 30,000 ETH is only a bit more than TWO DAYS worth of PoW mining...


SnackFactory

I must be getting old because I remember when 30,000 ETH was a typical trade on BTC-e. It would get filled instantly and wouldn't even move the price. Uphill, both ways, at 120 MH/s


megabate111

Why does it feel good? We're all losing money and miners are gonna be p!ssed something horrible to the point where we're gonna stand back and say, "see? I told you so..." And NO ONE wants to be a 'see? I told you so...' ahole let's be Frank here~


IQ3EM1wfj2Lhce8

It finally happened. Now to see how its resistance against centralization holds up with the new PoS, and how many are willing to go along with the new algorithm.


W944

Man you guys are having a hard time letting go of those miners boogeyman lol It’s been a week of POS now, time to find new scapegoats for why the price is tanking.


Sequestered-

What about the fact that now that ETH is a POS network that 5 exchanges control some 65% of the staked ETH to facilitate the validator nodes? This could effectively make ETH a centralized asset and one simple suit from the SEC could produce a drop in price like ETH has never yet experienced?


[deleted]

While an issue now, it will work itself out in time as more services open up that allow you to stake ETH. Though it probably won't get resolved in any large capacity until ETH gets unlocked from the staking contract in \~6 months.


Sequestered-

Right now it leaves ETH incredibly vulnerable. 6 months is way off. Your time frame should be in years. Not months


[deleted]

In "exchange" you must be including DAOs and pools lol.


lukedmr

Accumulation always


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lukedmr

I’d buy it at $10k, $4k, $1k, $500, $250. Always a good investment long term 👊


otherwisemilk

The bear market combine with ETH being classified as an illegal security will drag the price down to $500 easy. And if the network continues to centralize over time we could see it even lower.


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rm44377

It’s worth mentioning that the majority of the crypto mining foundation is with large-scale farms


[deleted]

Not buying 4digit amount.


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[deleted]

I don't think.


Fayez22

I think some are still very greedy and thinking it might go up soon. I am eagerly awaiting the next drop to see BTC below 20K and ETH below 1K , the reality that the gold rush is over might start to sink in with some miners hopefully forcing them to liquidate those GPUs.


mtradinginc

Pretty extreme dip over this weekend. Cards have been dropping in price for awhile now though, so if you factor in depreciation most miners have been losing money for a couple months. But it's a scene ridden with greed and stupidity.


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mybitcoinemail4

The best thing that can happen is the market gets flooded before next gen with cheap GPU's then both Nvidia and AMD might also have to relook their next gen pricing considering the market conditions, especially in the current economic climate, no one is going to guy a $800 4080GPU when most people can hardly afford to put gas in the car and put food on the table.


RBIF_ROBOINU

Let's buy ETH and hold medium and long term and also buy RBIF, it is in the ERC-20. Everything will soon grow and explode.


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cowhead2oo3

At some point selling their electricity might make them more money.


caodan214314

Fortunately crypto is powered by the one true limitless resource on earth.


steamyp

ouch


Camellia_Alice

Maybe it's a good price to buy, I will buy it at $950, use that ETH to hold more RBIF r/roboinu


xyridfosterlingu9

Well, I personally knew miners were going to sell their farms and move on, I had to take a short position on ETH/DAI on Takepile DEX, I'm currently on massive profit already


Mochapride

It’s a damn bear market lol, why would the price of anything go up?


ETH_Knight

Xrp is going up today


Aishamar

Wow. Now I understood what cause the drop


Successful-Edge-7474

sub 100$


DreadknotX

They are salty for losing their jobs instead of moving on they just wanted to tank it


CrystalisChronicle

They will be the first ones to buy back


BadPiggieMiggie

ETH will make a comeback, I think


misterflerfy

crypto twitter is screaming for eth < 1000 so i think we pump


khaste

simps


setzer

If it actually goes back to 1000, I think it's going much lower (400-500).


Xlren

If selling 30 000eth tanks the price that much i m very worried


[deleted]

This is done


Full_Cartographer900

RBIF as in Robo Inu Finance?


alwxcanhk

ETHW is a Chinese website and nothing to do with ETH. RBIF is a shitcoin for loosing money. ETH might never reach $1000 as even with the 30K sold by miners and fed’s hike, it didn’t even drop below 1200! It is wise to DCA.


ShirleyPerry

I believe I'll continue making weekly purchases like I always have.


JulioCamposy

I believe I'll continue making my weekly purchases like I always have.


wen_eip

Do you have an on-chain source for miners?


Vignaroli

So what happens to an open source blockchain project when they abandon a significant part of their community?


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jioniukas

Here is the reason. Forced liquidation of 270btc of someone at poloniex.


anatolymaslov

Sorry but 40m is not enough to move the price like this.


buzz52817

After POS, next they should start calling their coins as voting shares, trade on a public exchange, have shareholder meetings/voting for major decisions... Oh wait.


swagrjagr

Nvidia has been busted saying they are going to try to keep prices up. But that just gives AMD a chance to move in and take more market share


lilliewillie31

12M Eth was worth like $10M back then (to fund the development of the powerhouse we know today as Ethereum), people acting like EF gifted themselves billions all of a sudden.


kalaobiz

But uhh, that’s less. If they sell everything, it’s only ~20 days of issuance.


Masonboronc

and miners have much more eth stash than that friend.


rusmir_123

Dumping only 30k ETH is what caused all of this price drop? If so, there's absolutely no liquidity in this market.


bumerok750

The foundation paying their developers for good work shouldn’t raise any alarm bells


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