The ETH is making it

Sorry for the late update. The author had to travel to another city. That was actually quite interesting trip. Joined the group of other 3 skilled (everyone in its own area) people, the author will likely take part in the project. It was quite special experience to present the first time Ethereum and DAO to the people who never heard about it. Excitement was big to say the least. “Unfortunately” after checking in a more detailed way (if it really fits the market and our first goals), we had to admit that “the DAO” isn’t the way to go. At least not right now. Still, the author is considering to contact the people from Slock.it (as they are also from Germany) and ask some specific questions.

Ok. Back to the ETH and Elliott Waves.

One of the mentioned levels got broken. As it has happened on the way up, it means the ETH is making it. Making what? The author still thinks, the 5-th wave is about to be finishedMidTerm

Normally it would mean that we are about to start correction down to around 0.018 area again. However, calling for a top isn’t an easy call right now. There are not enough signs that traders have become unreasonable optimistic. But this is exactly what one should look for at the top. One reason could be, that this 5-th wave will be extended one. It means it will go up quite a bit more before finally stopping. As author mentioned (hmm.. or did he?) the ETH and also BTC tend to behave like a commodity, it means they regularly have extended crazy 5-th waves. If that is what market prepared for us, then yes, at the end of the rise the sentiment most probably will reach the needed degree of optimism.

Otherwise an alternate count will have to be considered.

The move down in BTC, by the way, is by no mean is finished. The initial 5 waves down (marked as “A or 1”) still need to be continued to at least 430 USDBTCDown

We will see how nicely the Elliott Waves are formed tomorrow and will publish an update.

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Author: Ravno_108

Sentiment wave rider. Product creator. Yogi

5 thoughts on “The ETH is making it”

  1. Thank you for the update! I also appreciate your BTC charts. I’m in ETH and BTC, and agree they are not rivals. It’s interesting though, to watch and compare their behavior. Am pouring some wine here and waiting to see 🙂

    Like

    1. Hi Alex,

      where is your question coming from ?
      I mean, I can’t recall saying “the DAO” isn’t the way to go.
      Yes, I doubt it is an investment which will bring fast returns.
      But in general it’s great thing and I support it with some of my ETH.

      Actually, I was even thinking lately to make a proposal to “the DAO” and Ethereum.core to focus the development of the Ethereum to make it de-facto
      “the Plattform” for the “Dezentralized Investment Fund + CrowdFunding”. I like and know the power of the focus, which we are still a kind of missing in Ethereum.

      If we would be able to develope this in a open-source way, there could be huge shift in the next years. Shift how people do investments.
      That would also make DAO very financially successful.

      So, these are some of my thoughts =)

      Any what are yours ?

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      1. >where is your question coming from ?
        >I mean, I can’t recall saying “the DAO” isn’t the way to go.

        I see this in the beginning of your post called “The ETH is making it”.

        >So, these are some of my thoughts =)
        >Any what are yours ?

        I have mixed thoughts about TheDAO.
        From one side the idea looks groundbreaking.
        But I’m also suspicious:
        – Unlikely fast ROI. Terms explicitly say not to threat TheDAO as a speculative investment.
        – Communication on TheDAO forum looks quite messy and unstructured
        – Slock.it could eat most of accumulated ETH leaving very little to other proposals
        – Mist wallet becomes unusable after watching contract and token (solved in the newer Mist which came out after TheDAO launch)
        – After participating on Google Hangouts event where Slock.it team was speaking I had a feeling that they are focusing mostly on technical stuff, but there could be lot of challenges with legal/regulation things.
        – The following info from CoinDesk is alarming:
        Christoph Jentzsch, co-founder and CTO of Slock.it, which created the open-source DAO framework at the core of The DAO, told CoinDesk: “We actually don’t know who started it. Of course we can see the address on the blockchain but we don’t know who owns the address. The only way to speak with the DAO is to make a proposal and vote.” Source: http://www.coindesk.com/the-dao-just-raised-50-million-but-what-is-it/

        So, if slock.it don’t know who owns TheDAO address, then who knows? My assumption was that curators hold multisig, but looks like it’s not the case.

        Liked by 1 person

  2. Ah, I see now. Was a little misunderstanding. The “DAO isn’t the way to go” was meant that we as a group of people were thinking about starting our own, the new DAO. Not to use “the DAO” (daohub.org) but to create the new one, with slighly adjusted rules (more clear purpose of the curators + more offline activities) and more focused investments goals. But then, during the deep discussion and testing some of the assumptions, we agreed to at least postpone it. This is what I meant “DAO isn’t the way to go for us”.

    Regarding your points.. I agree with almost all of them. Very nicely categorised, especially about who owns TheDAO address. I also was sure it belongs to the curators. Now would be interesting to know who really have deployed it.
    However I wouldn’t be concerned about the slock.it, consuming most of the funds. I’m pretty sure there will be other great proposals. Trust the unvisible power of the connected minds, it will manifest itself step by step =)
    What I’m a bit concerned is that “the DAO” actually should be (like a VC investor) a stock holder in a invested company. I hope the community will be persistent to find the way how to accomplish this. Otherwise it’s not really healthy just to give some idea/project/group of people money and hope they will generate revenue somewhere in the future with exactly the proposal they submitted. Most of the times it’s working differently and the initial idea is changed many times before it becomes really valuable. So at that point some other offline VC would like to buy it out or at least participate and “the DAO” will be pushed away.
    What I want to say, to count on only the % of the revenue isn’t enough and is not the best way at all. Not in the startup world anyway.

    So, this is now (in my opinion) the most important problem to solve for “the DAO”.

    When it’s done, we (the holders of DAO tokens and also the Ethereum plattform itself) will be in a great shape to become the first this kind of “decentralized VC Fund” in the history.

    Just to think about how much it could change the value of ETH, makes me feel very excited..

    Like

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