Inverted Fibonacci Bat Wings – Death By ETH-USD TA – Ethereum USD (Cryptocurrency:ETH-USD)

Ethereum Is Not About The Price Of ETH

I understand that this is an investing platform and that ultimately, we all want to make a return on our investments. But, trying to understand Ethereum by looking at ETH (ETH-USD) technical charts is more akin to Plato’s allegory of the cave.

Sure, at times, ETH is overbought or oversold, but I’m going to suggest that obsessing over technical charts (especially if the author is also shilling natural male enhancement, I’m not kidding about this) does more harm than good. If you are interested in investing in ETH, just follow these simple steps.

  1. Figure out why Ethereum matters, spend some time to educate yourself.
  2. See if you actually care; maybe it’s just not your thing.
  3. Understand the risks, which are many.
  4. If you are still interested, wait for the price to be at a reasonable level and DCA your way into position.
  5. Wait three to five years.

So, Why Does Ethereum Matter?

Let’s think about this. According to, Ethereum is a blockchain app platform that lets you make unstoppable applications. So, why would anyone need an unstoppable application?

An Alternative To State-Controlled Media

I have a friend who lives in Nicaragua. Do you know what’s been going on there since last month?

Students, people shot protesting the deaths of other students, journalists: all delinquents. The government shut down several TV stations in the first few days of protests. Other reporters were robbed, beaten and harassed. Several of the reporters I talked to said a lot of the aggression came when they were photographing the Juventud Sandinista, the FSLN’s youth group, or police attacking protesters. – Ticotimes

What do you do when you live in an oppressive regime, and the state has the power to just turn off the TV anytime it might make them look bad? What if we re-thought media and had alternatives that were decentralized and censorship resistant, unstoppable even?

Several startups are trying to do just that. Take a look at (POE-USD), TV-TWO, and Peepeth, all powered by the Ethereum blockchain (this is not an endorsement of these projects, merely an assertion the Ethereum has created a way to make this a reality, and someone is actually running with the idea).

An Easy Way To Spin Up Your Own Token And Fund Your Project

The really interesting thing about Ethereum is that it lets people be innovative. We really can’t predict what people will create, and sure, some of it will be junk; but not all of it.

You probably know that you can create your own coin on the Ethereum network. This was exactly what Brendan Eich, the co-founder of Mozilla and creator of JavaScript, did when he created Basic Attention Token for use with the Brave browser. Basic Attention Token or BAT (BAT-USD) is an ERC20 token, a type of currency built on top of the Ethereum blockchain.

The Brave browser is an attempt to fix the broken online advertising model, in which bandwidth is wasted displaying ads that nobody wants to see, middlemen take huge profits, and your personal information is sold to the highest bidder. The idea is to start from a clean slate (Brave blocks ALL ads by default), and then replace the current system with a new one, in which users get paid for their attention while having their identity anonymized.

Imagine being able to say “Ok, I’ll view your ads if you pay me.” That’s exactly what Brave does (or will do, it’s still in the early days and there are some kinks to work out). Then, I can take the BAT that I get paid for watching ads, and support my favorite YouTuber, or blogger if I want to.

Will it work out? Who knows? But, this kind of innovation wouldn’t be happening at the same velocity without a permission-less backbone like Ethereum.

A Platform For Total Disruption

“What do you get when you mix self-driving cars, cryptocurrencies, and AI? The self-owning car!” – Former Bitcoin developer Mike Hearn

Consider the radical concept in which a smart contract (originally conceived of as running on the Bitcoin network) could enable a self-driving car to engage in the following procedures:

  • giving people rides to earn money (crypto)
  • paying for things it needs using those funds, like recharging or new tires
  • using profit it creates to buy more cars

Since Ethereum placed their focus on smart contracts, I think this concept would work much better as a DAPP.

Now, substitute the car for something else, like a drone. Imagine a drone that is controlled by a smart contract living on the Ethereum blockchain that delivers, oh I don’t know, sandwiches. The drone pays for power to recharge itself and eventually buys a fleet of sandwich delivering drones.

This is kind of fun! What about a Roomba with a weed wacker attachment that trims your hedges and buys more Roombas with the crypto it earns? I think you are starting to get the picture.

This is the kind of thing that’s possible today because of blockchain and smart contracts. At this point, the hurdles are not technical, but regulatory. Where do we go from here?

What’s Coming Around The Bend?

If you look at the current throughput of the Ethereum network, you might feel that the future is quite a way off since the number of transactions that can be processed is only about 15 per second. However, the nature of the technology is such that when scaling solutions are implemented, they have the power to increase the transaction capacity by orders of magnitude.

Right now developers are working on Plasma, Raiden, Sharding, and Proof of Stake. Each one has profound implications on its own, but taken as a group, the result might be earth shattering.

Imagine being able to instantly convert any digital currency into any other currency without having to trust a third party. Imagine a platform that could be extended to include things like banks, insurance, law, and technology ON TOP of a decentralized, global computing network with full transparency.

You see, it’s not possible to build a decentralized, trust-less system on top of a centralized and closed system (like the one we have now). But, it is possible to build centralized systems on top of decentralized systems. What do I mean by this?

Many cryptocurrency enthusiasts think that cryptocurrencies are going to completely replace the banking and financial systems we have today. Perfect, because I’m sure our grandparents who don’t own a computer have all the necessary technical skills to protect her cryptocurrencies from Russian hackers. No, what’s much more likely is that the tech savvy will manage their own cryptocurrency, and the rest of the people will have a cryptocurrency bank account. Why not? In fact, it’s already happening in Switzerland.


Ethereum is still a very new technology, but its growth has been astronomical, and I think it could actually change the world. That’s why I’m long (ETH-USD), even though we may still be in the back end of a speculative bubble. This is value investing to me, buying something that you believe in which also has the potential to make you some money.

If you want to invest in the Ethereum network, find a price that feels good for you, DCA your way in, then hold for the long term. You’ll sleep much better at night because you won’t have any nightmares of inverted Fibonacci bat wings.

Disclosure: I am/we are long ETH-USD.

I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Be the first to comment

Leave a Reply

Your email address will not be published.


Privacy Policy is committed to safeguarding your privacy. Contact us at if you have any questions or problems regarding the use of your Personal Data and we will gladly assist you.

By using this site or/and our services, you consent to the Processing of your Personal Data as described in this Privacy Policy.

Table of Contents

  1. Definitions used in this Policy
  2. Data protection principles we follow
  3. What rights do you have regarding your Personal Data
  4. What Personal Data we gather about you
  5. How we use your Personal Data
  6. Who else has access to your Personal Data
  7. How we secure your data
  8. Information about cookies
  9. Contact information


Personal Data – any information relating to an identified or identifiable natural person.
Processing – any operation or set of operations which is performed on Personal Data or on sets of Personal Data.
Data subject – a natural person whose Personal Data is being Processed.
Child – a natural person under 16 years of age.
We/us (either capitalized or not)

Data Protection Principles

We promise to follow the following data protection principles:

  • Processing is lawful, fair, transparent. Our Processing activities have lawful grounds. We always consider your rights before Processing Personal Data. We will provide you information regarding Processing upon request.
  • Processing is limited to the purpose. Our Processing activities fit the purpose for which Personal Data was gathered.
  • Processing is done with minimal data. We only gather and Process the minimal amount of Personal Data required for any purpose.
  • Processing is limited with a time period. We will not store your personal data for longer than needed.
  • We will do our best to ensure the accuracy of data.
  • We will do our best to ensure the integrity and confidentiality of data.

Data Subject’s rights

The Data Subject has the following rights:

  1. Right to information – meaning you have to right to know whether your Personal Data is being processed; what data is gathered, from where it is obtained and why and by whom it is processed.
  2. Right to access – meaning you have the right to access the data collected from/about you. This includes your right to request and obtain a copy of your Personal Data gathered.
  3. Right to rectification – meaning you have the right to request rectification or erasure of your Personal Data that is inaccurate or incomplete.
  4. Right to erasure – meaning in certain circumstances you can request for your Personal Data to be erased from our records.
  5. Right to restrict processing – meaning where certain conditions apply, you have the right to restrict the Processing of your Personal Data.
  6. Right to object to processing – meaning in certain cases you have the right to object to Processing of your Personal Data, for example in the case of direct marketing.
  7. Right to object to automated Processing – meaning you have the right to object to automated Processing, including profiling; and not to be subject to a decision based solely on automated Processing. This right you can exercise whenever there is an outcome of the profiling that produces legal effects concerning or significantly affecting you.
  8. Right to data portability – you have the right to obtain your Personal Data in a machine-readable format or if it is feasible, as a direct transfer from one Processor to another.
  9. Right to lodge a complaint – in the event that we refuse your request under the Rights of Access, we will provide you with a reason as to why. If you are not satisfied with the way your request has been handled please contact us.
  10. Right for the help of supervisory authority – meaning you have the right for the help of a supervisory authority and the right for other legal remedies such as claiming damages.
  11. Right to withdraw consent – you have the right withdraw any given consent for Processing of your Personal Data.

Data we gather

Information you have provided us with
This might be your e-mail address, name, billing address, home address etc – mainly information that is necessary for delivering you a product/service or to enhance your customer experience with us. We save the information you provide us with in order for you to comment or perform other activities on the website. This information includes, for example, your name and e-mail address.

Information automatically collected about you
This includes information that is automatically stored by cookies and other session tools. For example, your shopping cart information, your IP address, your shopping history (if there is any) etc. This information is used to improve your customer experience. When you use our services or look at the contents of our website, your activities may be logged.

Information from our partners
We gather information from our trusted partners with confirmation that they have legal grounds to share that information with us. This is either information you have provided them directly with or that they have gathered about you on other legal grounds. See the list of our partners here.

Publicly available information
We might gather information about you that is publicly available.

How we use your Personal Data

We use your Personal Data in order to:

  • provide our service to you. This includes for example registering your account; providing you with other products and services that you have requested; providing you with promotional items at your request and communicating with you in relation to those products and services; communicating and interacting with you; and notifying you of changes to any services.
  • enhance your customer experience;
  • fulfil an obligation under law or contract;

We use your Personal Data on legitimate grounds and/or with your Consent.

On the grounds of entering into a contract or fulfilling contractual obligations, we Process your Personal Data for the following purposes:

  • to identify you;
  • to provide you a service or to send/offer you a product;
  • to communicate either for sales or invoicing;

On the ground of legitimate interest, we Process your Personal Data for the following purposes:

  • to send you personalized offers* (from us and/or our carefully selected partners);
  • to administer and analyse our client base (purchasing behaviour and history) in order to improve the quality, variety, and availability of products/ services offered/provided;
  • to conduct questionnaires concerning client satisfaction;

As long as you have not informed us otherwise, we consider offering you products/services that are similar or same to your purchasing history/browsing behaviour to be our legitimate interest.

With your consent we Process your Personal Data for the following purposes:

  • to send you newsletters and campaign offers (from us and/or our carefully selected partners);
  • for other purposes we have asked your consent for;

We Process your Personal Data in order to fulfil obligation rising from law and/or use your Personal Data for options provided by law. We reserve the right to anonymise Personal Data gathered and to use any such data. We will use data outside the scope of this Policy only when it is anonymised. We save your billing information and other information gathered about you for as long as needed for accounting purposes or other obligations deriving from law, but not longer than 1 year.

We might process your Personal Data for additional purposes that are not mentioned here, but are compatible with the original purpose for which the data was gathered. To do this, we will ensure that:

  • the link between purposes, context and nature of Personal Data is suitable for further Processing;
  • the further Processing would not harm your interests and
  • there would be appropriate safeguard for Processing.

We will inform you of any further Processing and purposes.

Who else can access your Personal Data

We do not share your Personal Data with strangers. Personal Data about you is in some cases provided to our trusted partners in order to either make providing the service to you possible or to enhance your customer experience. We share your data with:

Our processing partners:


Our business partners:


Connected third parties:


We only work with Processing partners who are able to ensure adequate level of protection to your Personal Data. We disclose your Personal Data to third parties or public officials when we are legally obliged to do so. We might disclose your Personal Data to third parties if you have consented to it or if there are other legal grounds for it.

How we secure your data

We do our best to keep your Personal Data safe. We use safe protocols for communication and transferring data (such as HTTPS). We use anonymising and pseudonymising where suitable. We monitor our systems for possible vulnerabilities and attacks.

Even though we try our best we can not guarantee the security of information. However, we promise to notify suitable authorities of data breaches. We will also notify you if there is a threat to your rights or interests. We will do everything we reasonably can to prevent security breaches and to assist authorities should any breaches occur.

If you have an account with us, note that you have to keep your username and password secret.


We do not intend to collect or knowingly collect information from children. We do not target children with our services.

Cookies and other technologies we use

We use cookies and/or similar technologies to analyse customer behaviour, administer the website, track users’ movements, and to collect information about users. This is done in order to personalize and enhance your experience with us.

A cookie is a tiny text file stored on your computer. Cookies store information that is used to help make sites work. Only we can access the cookies created by our website. You can control your cookies at the browser level. Choosing to disable cookies may hinder your use of certain functions.

We use cookies for the following purposes:

  • Necessary cookies – these cookies are required for you to be able to use some important features on our website, such as logging in. These cookies don’t collect any personal information.
  • Functionality cookies – these cookies provide functionality that makes using our service more convenient and makes providing more personalised features possible. For example, they might remember your name and e-mail in comment forms so you don’t have to re-enter this information next time when commenting.
  • Analytics cookies – these cookies are used to track the use and performance of our website and services
  • Advertising cookies – these cookies are used to deliver advertisements that are relevant to you and to your interests. In addition, they are used to limit the number of times you see an advertisement. They are usually placed to the website by advertising networks with the website operator’s permission. These cookies remember that you have visited a website and this information is shared with other organisations such as advertisers. Often targeting or advertising cookies will be linked to site functionality provided by the other organisation.

You can remove cookies stored in your computer via your browser settings. Alternatively, you can control some 3rd party cookies by using a privacy enhancement platform such as or For more information about cookies, visit

We use Google Analytics to measure traffic on our website. Google has their own Privacy Policy which you can review here. If you’d like to opt out of tracking by Google Analytics, visit the Google Analytics opt-out page.

Read more about cookies on our Cookie Policy

Contact Information

email: [email protected]

Changes to this Privacy Policy

We reserve the right to make change to this Privacy Policy.

You can configure your Internet browser, by changing its options, to stop accepting cookies completely or to prompt you before accepting a cookie from the website you visit. If you do not accept cookies, however, you may not be able to use all portions of the WideBitcoin Websites or all functionality of the Services.

Please note that disabling these technologies may interfere with the performance and features of the Services.

You may also disable cookies on the WideBitcoin Sites by modifying your settings here:

Visitor comments may be checked through an automated spam detection service.

Last Update: May 25, 2018