Ethereum For Investors #17 – The Future Of Ethereum Post DAO Hub Attack

What’s up, guys? This is Tai zen and I want to share something with you guys that I believe is very important guys with which pertains to the Etherium holdings. I made a big decision the last few days and it was something that my buddy Leon and I discuss the depth and this will have decided to do guys, I’ve been holding some Ethers for some time now. I cashed out some to take profits when I was over like 3000% a profit on the Ethers.

And right now, as of a couple of days ago the situation with the soft fork being unsuccessful in the dow hub in case you’re holding Etherium in your portfolio one share with you guys what I did, I’m not making any recommendations of what you should do, but I just want to share with you guys what my thoughts are on it and so that you guys can make your own decision.

So we have several events coming up that I believe is going to hurt the price of the Etherium. That does not mean that I do not believe that the Etherium network will have long, long term. There will be, I believe that the Etherium of network, we’ll have a lot of success with Vitalik and his team.

So I still believe in that. So when I say long term, I’m talking about like over a year from now, six months or a year from now, things can change. Things change very quickly in Cryptocurrency.

So you’ve got to be aware of that. But at this moment, with the information that I have about the soft for being unsuccessful and there are potential dangers in the Hard Fork that’s coming up.

This is a video was done on July 17th and we got within eight days on July 15, the DAO attacker is going to have the ability to withdraw a started draining the child dow and cashing out the Ethers in converting into Bitcoin or do whatever he wants with it.

So here are my thoughts on this. Right now as we are speaking, let me pull up the prIce here. So the, you guys, I can give you guys a frame of reference. So right now if you guys look at the price of the DAO. If you guys look at the price of the Ethers versus Bitcoin,

The price of the Ethers is at 1.5 million Satoshi somewhere around there. That’s about 15 millibits. That means that for every 1000 Ethers and you hold, you can convert to Bitcoins and get 15 Bitcoins, 15 and a half Bitcoins basically.

So for every $1,000 Ether that you have that’s worth 15 and a half Bitcoins. Now I cash mine out all my Ether holdings. I don’t have any Ethers in my portfolio or cash it out somewhere right around the 2 million ether. I mean 2 million Satoshi.

So I got about, you know, if you have a thousand Ethers, you could have gotten 20 Bitcoins for it. So I cashed out somewhere around there and really busy with work so I haven’t been able to get back and share with this with you guys.

But now that I have, I want to make it very clear guys, that there are several reasons why I decided to cash out. One is that they’re the Bitcoin having is coming up in about a few days here on the 10th, on the 11th or something like that in three or four or five days.

So what that’s going to do is that’s going to increase the price of in my opinion and a lot of people’s opinion in the Crypto community that’s going to increase the price of Bitcoin.

And remember the seesaw effect that I was telling you guys before when the price of Bitcoin goes up the price of the Atlcoins go down because it takes less a Bitcoins to buy the same amount of Altcoins.

So that’s one thing that’s thought about that when the having a occurs in Bitcoin, it’s going to push the price of Bitcoin up and reduce the price, the value of my Ethers in terms of Bitcoin, not in terms of us dollars, but in terms of an Ethers.

So in Bitcoins so what that’s going to do is I’d rather just cash out now and keep my profits. The second thing is a success with a Hard Fork for the DAO hub, a fiasco for the DAO attack. If that’s not successful, that’s really going to tank the drop the price of Ethers.

So that’s going to further push the price of Ethers down and then if it is successful, let’s just say the Hard Fork accessible for Ethereum and they refund everyone back there Ethers. The natural instinct for most beginning investors, they don’t look at things in a long time the longterm success of the Ethereum network.

So they’ve been upset first traded. You’ve got to put your stuff in the mindset of the beginning Crypto investors that pissed off, they probably bet the house on the success of the DAO hub being successful and getting a 10 x or 20 x profit out of that which is, that would be like a 10,000 or a thousand or 2000 percent profit on the DAO hub ICO. And instead, it’s been a fiasco. And you know, a lot of things that people didn’t expect to happen.

And so now people are losing money on it. So when people get the refund back for the Ethers, my belief is this, is that the natural instinct for beginning Crypto investor that does not know about longterm investing in Cryptos is that they’re going to cash out, they’re going to sell their Ethers and converted to Bitcoins.

And when that happens, I expect the price of Ethereum to go down even further. So you got pressure, downward pressure from the Bitcoin having you got the say, the uncertainty of the Ethereum Hard Fork being successful or not. And then you got the amateurs dumping there are Ethers when they get them back so they can, and it’s not just amateurs guys, but there are people who have walked up to their money in the doubt and now that they get it back, they get a refund back.

Then they’re going to try to cash it out so they can take it and go invest into other Cryptos. So it’s not just amateurs that don’t know what they’re doing, but there are also just people that want to invest in other Altcoins or other Cryptocurrencies. So the question is what should you do?

So I was thinking about this and I was discussing this with my buddy, and we came up to the conclusion about this we looked at the potential upside and the potential downside.

Right now with Bitcoin expecting the price of Bitcoin to go up, we’re looking to convert more of our holdings of portfolio, you know, in leaner more into the Bitcoin space versus the Altcoin, you know, there’s a few Altcoin that we’re holding onto because we think that there’s a longterm potential. Like waves like Lisk, you know, those things, the standard-issue the standard high volume ones right now in NXT and things like that.

So then, so if we look at that, that there is, there’s more potential for the upside and Bitcoin right now because they’re having, that’s coming up and because of the momentum that it’s gained this year, we’re looking to put more into Bitcoin than to other Cryptocurrencies at this moment.

Most of the bulk of our portfolio is heavily weighted towards is biased towards Bitcoin, other Cryptocurrencies. So if we do that right, we looked at there’s more potential for the upside in Bitcoin and if you look at the price of Ethereum

This DAO hub is such a big screw up in such a big nasty scar an injury to the Ethereum network there. I believe that it will take at least six to 12 months before Ethereum goes back up in price. Now it can possibly go back and in price, because people are happy that they got their refund back after the hard for if it is successful, there is a potential can go back up to like, let’s just say the 2.7 million, 2.8 somewhere around the 2.7 million Satoshi point

So that you can get 27 Bitcoins, were every 1000 Ether that you have. But besides that, I don’t really see them happening. I don’t see it going back up to to 34 or 37 millibits like it was before.

And earlier this year, I have predictions that Ethereum will go up to the 50 millibits marks, right? It has already hit that with that it has already hit that based on us dollar comparison.

So you guys and I don’t see breaking new highs in us dollars or in terms of Bitcoin anytime soon because of this DAO hub attack fiasco. So I would say that that would be, that would be more of a fiasco, that, that’s going to prevent the price from going up anytime soon.

So just be aware of that guys, that’s what my predictions are on that so that there’s more potential for Ethereum to go to the downside than it is for the upside. My philosophy is this, right? Is that it’s gonna, if it does go lower, I can always buy a bag into the Ethers, right?

So based on that guys, that’s the reason. Those are the reasons why I sold all my Ethers and I don’t have any more Ethers in my portfolio because I think that there’s more I can always get back in and buy it back in when the right now we’ll Ether is worth like $10.

Let me look at the price real quick right now. The Ethers is a worth. Let me see, your Ethers are worth $10 and if it crashes down, right, we can always, I can always get back in when it’s down to like three or four, one dollars, whatever it is. And I was buy back in and write it back up again because right now I don’t see the point in putting me into the Ethers right now

Simply because there’s not a lot of upside potential right now with all the news events and the situation going on with doubt. So that’s all I have guys want to make this quick video for you guys. So then you guys will have an idea of what to do with it. and then in a separate video, I’ll talk about the future of the down hub guys. And so thanks for watching this video guys. And guys like you gave me a thumbs up. You guys don’t like it, give me a thumbs down and I’ll catch you guys in the future video


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