Anyone planning to trade/speculate the Ethereum Merge event?

I'm long on Ether and have been waiting for this day for years now. However I'm expecting a dump but will not short it since I believe it will recover and I could be wrong about a dump. But Ether has the potential to surpass Bitcoin as being one of the safest alts to invest in.

johnarb said:
There are groups planning to fork the Ethereum Merge (switchover to a PoS Blockchain), possibly 2 PoW forks

Whatever Eth and Erc-20 tokens you have prior to the forks, you will be able to use your private keys on 2 or more blockchains
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Does this mean we can create a whole new wallet on a different network and have the same amount of money already in the new wallet?

If so then our funds would be doubled.
 
misterkel said:
Arthur Hayes wrote a pretty good piece on the meta-effects of Fed policy dovetailing with the merge here.
https://blog.bitmex.com/maxbidding/

TLDR: Fed will end tightening around NOW, slowly ease through foreign channels (covered in a previous blog post - quite interesting as well), and post-election (DEC Fed actions) - reinitiate nuclear QE. Stonks will do well, crypto better, ETH best of all IF successful merge.
Long ETH, adding on dips between now and DEC.
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Good plan. Ethereum will be highly deflationary after the Merge and with staked Eth still locked up for 6 months to a year, the supply will be very limited for the institutional buyers to start accumulating for their crypto portfolio

Good luck
 
Tokenz said:
Does this mean we can create a whole new wallet on a different network and have the same amount of money already in the new wallet?

If so then our funds would be doubled.
More...

Yes, possibly triple, but the Eth fork PoW coins will not be as valuable, depends on the trading market

So, the easiest way to play the forks coins would be having the Eth coins on an exchange that will support the forks. Poloniex (and another exchange) announced they will be supporting the Ethereum fork(s) and Coinbase said they will assess as things progress

So if you have 10 Eth on the exchange, you get 10 Eth pow-1 coins and 10 Eth pow-2 coins and can easily sell the forks since they are on the exchange

The negative is having your Eth on an exchange, not your keys not your coins

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With Bitcoin, I did it manually, left the coins on the wallet, when the forks occurred on a certain block, waited a few days, sent my BTC's to a new wallet, then with the wallet empty, used the private keys on the BCH wallet and BSV wallet and traded them for BTC

I dumped my fork coins too early, I think BCH for ~0.16 BTC, but I believe it got as high as 0.4x BTC, same with BSV, dumped it very early
 
For traders, this is such a risky bet (either way). Such a volatile asset with so many catalysts in the standard markets at the same time right this moment.

This is exactly opposite of the EIP-1559 update, where for some unknown reasons... the price of ETH kept going down.. down...down as margin HODLERs were getting liquidated one after another, even though we were in a raging Bull Market for equities, AND the upgrade was known to be going through OK with even a scheduled date for the upgrade.

We won't see those easy-peasy free money bets I fear again like that. At least, not for a while.

However, for those who plan to just hold as a long-term investment, it doesn't matter so much...

Solana has failed as an ETH killer. It has too many problems and worst of all, it sacrifices security for speed. The problem, is that the banking system and everything else in DeFi is terrible if the scaffolding that holds the whole system up is weakened. Security has to be the #1 priority. Then you can use roll-ups for everything else...

Each update in ETH takes away more and more of the very few areas that Solana had an advantage in.
 
Still possible to have a lot of (Buy the Rumor --> sell the News) swing-traders cause a negative reaction after the update goes. But... I'm not banking on that either. Canadian REITs hit their middle-of-the-month distributions payout last night, so starting 9:30 EST today a hell of a lot of money was shoved back into the Toronto Exchange. Not sure how much inflows went into crypto because of this, but I did buy up a bit more ETH, including a few Ethereum ETFs with a covered-call wrapper. Though I don't suggest you trust any institution to sell your covered-calls for you. I simply wanted to get my cost-basis on ETHY.B to look better than the prices I initially was buying them when they first hit the markets for registered accounts. Haha!
 
Pro tips for those who wants to speculate: collateral your stablecoin and erc20 assets, max borrow ETH. Once forked, your stablecoin and erc20 will be worthless anyway but you get to keep the ETHPoW.
 
nekogami said:
Pro tips for those who wants to speculate: collateral your stablecoin and erc20 assets, max borrow ETH. Once forked, your stablecoin and erc20 will be worthless anyway but you get to keep the ETHPoW.
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Only 2 posts and registered today?

Welcome aboard to Crypto Assets

I'll add to your pro-tip, but disagree with last asset you mentioned. in fact, I'll add erc-721 to the discussion

Warning: TL;DR

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Let's rewind to other forks where a divergence occurred on an existing blockchain at a certain blockheight, iow, not starting over from genesis block

BCH and BSV forks failure to gain value. Bitcoin is a SoV crypto asset and the thing that is most important is network effect, growth and adoption

Roger Ver and team of big blocker miners tried to get the users to move and use their "superior" forks, but as of right now, they failed and BTC is the winner with current price of $21K

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ETC is a failure, not too much argument, because all of the Smart Contract DeFi growth, and community and projects and stablecoins and NFT's exploded on ETH and none even attempted to build on ETC

The ones that wanted to build outside of ETH (due to high fees or congestion) did so on other EVM-compatible blockchains, i.e. Fantom, Avalanche, and Binance Smart Chain

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With history out of the way, I mentioned on a previous post I'll be "supporting" the ETHW

Let's start with the lowest hanging fruit, NFT's

Wouldn't it be nice to buy a rare cryptoPunk or BAYC for a few hundred or thousand $ versus their current prices of 100's of thousands of $?

You should be able to do it on ETHW, their erc-721 will exist there, I would think. The owners of the private keys are the same ones on ETH and they'll dump them because they are Ethereum maxis and believe ETHW will fail after a few weeks or months

How you buy them? LooksRare should be running if it's a decentralized smart contract. OpenSea on ETHW will probably be borked since it's a centralized platform, I don't know

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ERC-20 stablecoins will be frozen or burnt by the issuers, Tether and Circle, for example

But what about tokens like Sushiswap, AAVE, Uniswap? Their smart contracts should be decentralized and running on the ETHW blockchain, no? What's the incentive to implement a shutdown SIP, AIP, or UIP?

For that matter, that means instant DeFi explosion on ETHW blockchain, dexes, lend/borrow, yield farming

This is a huge difference compared to ETC

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And now we get into a David vs Goliath situation

The assumption is ETHW will fail and ETH will succeed and everyone happy with PoS Ethereum

But what if??

Enough people started playing with ETHW and saw that they can start over, buy cyptopunk very cheap, buy and trade erc-20 tokens for very cheap, yield farm tokens for 1000's of % since majority of users are on ETH blockchain

We get 20% of Ethereum users to play around with ETHW and NGU kicks in, some centralized exchanges for fiat like Poloniex are already saying they will support it and....

BOOM!! NGU kicks in because we are all starting at very very discounted prices

ETHW flips ETH

No more Vitalik and friends

or even if ETHW does not flip ETH, there could be opportunities for pump and dump and profits

NGU Tech on ETHW could start a new bull market in Cryptos

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Small chance, but what the heck
 
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