Throughout my posts, I have acknowledged that all altcoins are simply a tool that we use to increase the overall number of bitcoins that we hold. ALL ALTCOINS ARE SPECULATIVE SCAMS. Whatever will make you the most BTC is what I encourage. I talk about Pump and Dumps (PnDs) like they’re good things, because the volatility they bring will make smart traders lots of bitcoin; not because I think that PnDs are good for the overall BTC and ALT economy.
I have also never recommended to buy Ethereum (ETH). I don’t buy in to meaningless hype, and I have always recognized ETH as Just Another Altcoin (JAA). Of course, ETH is popular because it has smart-contract language written in to the platform; and what seems to be a supportive and active developer base. Not buying ETH has caused me some serious FOMO, as I’ve watched the price increase from below .001 to hitting .111 yesterday. This led me to do some of the serious research that I’ve been neglecting to do over the last few years that ETH has had its boom.
Ethereum is good at marketing itself as “smart-contracts,” but there has yet to be a single successful use-case of Ethereum. That’s because the decentralized applications (DApps) that ETH supporters advertise as revolutionary, are actually just iterations of altcoins that we’ve already seen. CounterParty, NXT, BTS are all some form of decentralized platform that had lots of hype and major pumps, just to be left in the dust by the next big “decentralized app” coin.
The reason I am publicly posting about my negative opinion of Ethereum is that I want to publicly guide anyone who is thinking about buying ETH away from that idea. Now is the time to use margin trading to short ETH! We are nearing the end of a pump cycle, where all the indicators now point to BTC pumping towards $5-6000. Everyone who used this ETH pump opportunity to mint themselves a healthy amount of BTC is sitting pretty, so don’t believe the technical jargon they will throw at you. Sell your ETH now, short ETH now, and ride the wave back down into some extra BTC.