Question about ERC20 token value in relation to Ethereum

Say I hold 100% of my portfolio in an 20 shitcoin that at a point of $1.00. Ehthereum drops 50%, do I retain all of the value in my shitcoin or do I lose some money with the drop? Sorry if this is stupid or obvious question

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Source: ethereum
Question about ERC20 token value in relation to Ethereum

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Question on sharding

Hi,

I not able to google an answer to my question. I understand that be a beacon chain, which has mainly the function of providing a heartbeat but also be a referee.

Can someone explain for one simple example how shards work ?

  • A very simple example would be ERC20 transfer. Who “choses” the shard?
  • Will one ERC20 token live on one shard or can tokens be transferred from one to another?
  • What the next crypto kitty ? Will it live on one shard or could it occupy several shards?

Thank you

submitted by /u/bitking74
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Source: ethereum
Question on sharding

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question about the gas price

Hi, I’m to . I am trying creating an account https://instadapp.io/ At the time I’m posting this https://ethgasstation.info/ reports 1 gwei $0.006 but instadapp charges me $0.33 for a transaction (I put 1 gwei for transaction fee). is much difference in fiat or something I misunderstood? Thanks.

submitted by /u/mm1dc
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Source: ethereum
question about the gas price

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South Africans may have walked in a crypto Ponzi scheme with Bitcoin Wallet

are in from Ladysmith, a African city nearly 400 kilometers away from Johannesburg that the local may have stepped in a crypto Ponzi without even realizing it. The in question is called Bitcoin Wallet and campaigning in South Africa in June 2019, by promising 100% returns to investors […]
Source: bitcoinwarrior
South Africans may have walked in a crypto Ponzi scheme with Bitcoin Wallet

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The Core Flaw In $100,000 Bitcoin Price Prediction

Bitcoin to $100,000, but why?

The price of Bitcoin has plunged by more than 15 percent from its 2019 high of $13,868.44. But that is not deterring investors from making bold bullish predictions for the cryptocurrency.


Anthony “Pomp” Pompliano, co-founder & partner of Morgan Creek Digital Assets is the latest to join the rank of bulls who believe Bitcoin price could hit the $100,000 level by 2021. The Facebook executive borrowed his bullish bias from a so-called halving event next May that will slash the supply rate of Bitcoin by half. That would make the cryptocurrency scarcer than it already is. On the other hand, an increase in demand would prompt people to bid for Bitcoin at higher rates.

“Supply-Demand economics remain valid,” reasoned Pomp. “They are a great way to determine the market price. So, if the demand for a fixed-supply asset increases, we continue to see price appreciation.”

Halving and Bitcoin Price

Halving has historically done well to Bitcoin.

Every four years, the cryptocurrency’s underlying algorithm reduces the supply of Bitcoin by half. In the beginning, the cryptocurrency’s daily issuance rate was close to 7,200 BTC at a block reward of 50 BTC. Following the first halving in 2012, the regular issuance got reduced to approx 3,600 BTC with block reward going down to 25 BTC. And in the next, the numbers got slashed another half —  1,800 BTC daily issuance at a block reward of 12.5 BTC.

By May 2020, the block reward will get cut to 6.25 BTC per block while the daily issuance rate would be about 900 BTC.

Simultaneously, the price of Bitcoin noted four-digit percentage gains upon every halving event. Following the first supply rate cut, the cryptocurrency noted a 7,976 percent surge in its spot rate. And after the second, it rose by 2,902 percent, as illustrated in the chart below.

bitcoin, bitcoin price

Bitcoin Halving Events and Their Impact on Price | Source: Use Journal

Doubts, Nevertheless

The all-time highs achieved during each halving also followed more substantial downside corrections. After December 2, 2013, the day Bitcoin established a historic high of $1,163, the price pursued a strong downtrend, eventually falling by approx 86.90 percent from the local top. Similarly, following the next all-time high formation on December 16, 2017, which was near $19,666, Bitcoin corrected to the downside by approx 83 percent.

There were also other catalysts at play during the so-called halving uptrends. In 2013, the Bitcoin price boom came ahead of the hack of Mt. Gox, the largest cryptocurrency exchanges of that time. Willy Report later claimed that shady people in Mt. Gox were artificially inflating the Bitcoin price using bots.

“Basically, a number between 10 and 20 bitcoin would be bought every 5-10 minutes, non-stop, for at least a month on end until the end of January,” read the investigation.

The next halving uptrend of 2017 had also experienced shady market behavior. In that, a massive influx of new blockchain startups conducted billions of dollars worth of crowdfunding rounds – all raising funds in Bitcoin. That increased the demand of the cryptocurrency, which sent the price to an unrealistic $20,000 level.

Eventually, more than 90 percent of those startups failed and probably sold their bitcoins to cover their losses. The result was a strong downtrend that brought the cryptocurrency down to as low as $3,122 in December 2018.

Final Thoughts

Bitcoin has outperformed every major and asset this year in terms of returns. The world’s first and foremost cryptocurrency in June towered above the $13,500 level, bringing its year-to-date return close to a whopping 275 percent. That happened after major financial firms like TD Ameritrade, Bakkt, and Fidelity Investments announced that they would offer Bitcoin trading services. That said, Bitcoin had every reason to rise based on speculation of real demand, if not real demand itself.

But saying it would hit the $100,000 level is nothing but a crystal ball prediction. No evidence shows a broader demand for Bitcoin-related products as of now. And as BitMEX founder Arthus Hayes during the recently-held Asia Blockchain Summit, this cryptocurrency could go anywhere from zero to a million.

The question remains: why $100,000?

Do you Bitcoin price will hit $100,000? Let us know your thoughts in the comments below.


Images courtesy of Shutterstock, Use Journal, Twitter :@Jessicaw_tv

The post The Core Flaw In $100,000 Bitcoin Price Prediction appeared first on Bitcoinist.com.


Source: bitcoinist
The Core Flaw In 0,000 Bitcoin Price Prediction

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Question regarding ETH 2.0 scaling.

Do you believe that L2 scaling solutions will be relevant upon the release of ETH 2.0?

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: ethereum
Question regarding ETH 2.0 scaling.

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Bitcoin Rally Crushes Alt Season Hopes, Small Cap Coins Down 54%

Bitcoin

New data is laying bare the extent of altcoin in 2019 as Bitcoin 00 lion’s share of the cryptocurrency market. 


Top 70 ‘Alts’ Down 19 Percent Against BTC

Published by digital asset firm Bletchley, a variety of indices put some altcoin losses at over half since April this year. The trend has intact in recent , despite volatility in the Bitcoin price. 

At press time, it was smaller-cap tokens which showed the worst performance, trading 54 percent down in the past three months. 

That number improves slightly among other indices tracking altcoins with larger market caps, such as the top ten.

Overall, Bletchley notes, the top 70 altcoins – selected according to meeting various criteria – has gone from 0.048 BTC to 0.039 BTC since April 1, a shift of 18.75 percent.

“There are plenty of people who still think ‘alt season’ is just around the corner, all eyes are on Bitcoin right now,” crypto journalist and commentator Kyle Torpey wrote in comments on the figures. 

Altcoins’ Dot Com Boom

As Bitcoinist reported, that idea that the ongoing Bitcoin price rally will ultimately spark a knock-on effect for altcoins is being increasingly called into question. 

Unlike in 2017, analysts worry that this time around, Bitcoin is definitively differentiating itself from the rest of the crypto sphere. 

According to veteran trading guru Peter Brandt last week, for instance, every token from Ethereum downwards is on the losing end, and only a few will survive the rout. 

Brandt likened the current climate to the Dot Com Boom of the early 2000s, noting how a return to form from the initial crash failed to materialize for all but a handful of companies such as Amazon. 

Traders should be focused on Bitcoin only at this point, he had said, eyeing a potential trajectory to $100,000.

“No other market in my 45 years of trading has gone parabolic on a log chart in this manner. Bitcoin is a market like no other,” he summarized on social media. 

Indeed, in terms of attention, Bitcoin will continue to more than ever into 2020, thanks to the launch of multiple institutional investor products. 

Three of these will be physically-delivered Bitcoin futures, where investors delivery of Bitcoins, not cash. Bakkt, first of the thre will begin a trial later this month. 

Crypto exchange Binance and trading platform ErisX will also follow suit, the latter having received US regulatory permission last week.

What do you think is the for altcoin markets? Let us in the comments below!


Images courtesy of Shutterstock, Longhash.com

The post Bitcoin Rally Crushes Alt Season Hopes, Small Cap Coins Down 54% appeared first on Bitcoinist.com.


: bitcoinist
Bitcoin Rally Crushes Alt Season Hopes, Small Cap Coins Down 54%

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Noob question about Proof of Stake – what is the main mechanism to prevent rollbacks/reorganisation

Hi,

After the hack of it was discussed if it would be feasible to reorganize the , find a consortium of miners that would start mining again from the block before the theft happened.

It was concluded that it’s not possible or too complicated, the economics(mining costs too high) would not work and risks are too high.

In a future scenario of Proof of stake, what is the main mechanism to prevent rollbacks or reorganizations of the blockchain.

Would a Binance hack of Ethereum be easier to roll back?

Thank you for your answers

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Source: ethereum
Noob question about Proof of Stake – what is the main mechanism to prevent rollbacks/reorganisation

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POS Wallet Question

First time poster, long time holder of ETH. I am quite hands off when it comes to my Crypto assets however when new developmental. Proof of Stake has me even more excited to accumulate some more, but I have a few questions:

Have any Wallets been confirmed to incorporate POS when it’s released?

Is Jan 3rd still the intended of implement?

How did the code test go on the 30th?

What information who doesn’t check reddit etc want to know regarding POS. I know I look most of this up, but hopefully this will open some discussion and others will gain some insight too. Thanks for help!

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Source: ethereum
POS Wallet Question

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Question: What is someone sends me stolen funds?

Hey,

, I keep seeing posts on /r/binance “Binance stole my and no answer” or “Binance locked me out for no reason”… etc.. And a popular response to this in is:

“Must have sent stolen funds to binance wallet”.

I’m worried because I have written a ton of articles and have various signatures for emails and forums with receiving addresses on. What if someone was to send me a amount of stolen funds. I mean my address there is accessible to everyone (not anymore, took them all down until I figure this out, good job I track them all). Then potentially someone could lose access to funds right?

Or is there something blatantly obvious I am missing here?

Edit: I know most would be like “Why would someone steal funds and send them out to everyone” but lets say the crypto theif is not really such a nice person and has stolen 30BTC. What is the issue with him sending 1btc split to hundreds of addresses and making lose their accounts.

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Source: CryptoCurrency
Question: What is someone sends me stolen funds?

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