Lol u don't get it do you. Im not shilling ETH here because these "whales" on 4chan are going to pump the price. I'm shilling it here because I genuinely want ALOT of 4chan users to get in on the bottom of this amazing thing.
It is good for the project I support to have these memers on board at this early stage. When it does inevitably blow up no coiners will be BTFO in every thread.
Unlike with BTC where no one on 4chan got a look in causing sour grapes and bad blood and envy against btc.
We learn from our mistakes. This time 4chan is coming with us.
By all means sell your coins. But know this. You're only hurting yourself.
>>1057834 Nobody here actually items it. These fags get paid like $.12/hour to shill. Check the gigs section on Craigslist, and you too can copypaste gibberish on the asshole of the internet for fun and """profit""".
>>1057993 Lol money couldn't even buy this level of shilling. I'm shilling it so hard I forgot why I'm doing it in the first place. Yes go ahead sell all your ETH on sunday before any banks are open. You fucking retard. Like I give a fuck if you're poor. Cunt.
>>1058030 Freelance shitposting from Bangladesh is a legitimate business in parts of the world without running water... I do have to give you credit for that. Best of luck, Muhammad Abdul Jafar Al-Hagazeramosh. I mean, Steve. ;^)
ok im sold. I have nothing to lose. I'll treat this like a new MMO.
How do i mine for ether coins and begin to make money overtime? someone help me or point to me in the right direction. I dont want to invest other than computer equipment. Can i just mine ether and trade it in when its time to sell?
Sure it is. People just haven't learned how to recognize the long con. Here it is in a nutshell...
1. Person spends real money to buy bitcoin, or ether, or PND, or whatever fringe fake "currency"
2. They then spend their time treating each of these myth-denominations as though it's some sort of electronic FOREX market. They bet, the hedge, they dodge they weave between one crypto and another.
3. In their minds, they're increasing their "worth" because as they move between one crypto and another, they're actually making gains. So maybe instead of having 100 ETH they now have 125 and they feel pretty good about themselves.
4. Then the whole thing collapses. Suddenly not only are there XYZ crypto's not worth anything, the entire crypto market has collapsed because this is what happens when people try to create their own currency without having the full faith and credit of a nation behind them.
5. It's at this point that they realize that the only person who has really made money was the guy several months (or several years) ago who sold them the first crypo. They took your real money and gave you electrons in exchange.
The bubble/bust cycle has repeated itself over and over again. Eventually you learn to recognize it when you see it.
Cryptos all depend on one common theme... that somehow they are going to overturn the last 5000 years of economic history.
That somehow, they are going to "create" a new monetary utopia and the 'fat cats' are simply going to let them do it.
The shills keep wanting to talk about how "big banks" are trying it out. But they forget one thing... Isn't Ethereum open source?
If the concept has value (which I actually DO believe it does), then the banks will adopt it in their own way... but being open source, your whole system is the one part that is redundant.
They can simply do it on their own, cut you out of the deal, and keep the money for themselves.
>>1058264 Any bank blockchain using Ethereum won't be open to the public.
But because the banks will now be using Ethereum to build their private chain, that means the banks blockchain will be able to interface to the public Ethereum blockchain. The banks will have the infrastructure necessary to interoperate with the public chain.
Something which is unachievable with bitcoin EVER.
Any smart contract on the public chain can be mirrored on the bank chain and vice versa.
And what you said about it "not being real" is evidently false because we're here talking about it. If it wasn't real there would be no logical way we could have a conversation about it.
We can talk about unicorns all night, but they aren't real either.
The basic concept of ethereum seems to be this...
1. there is an open source technique for making secure transactions.
2. Even though it's open source (which means everyone's free to use it), banks are instead going to pay some guy off the street money to handle their transactions.
(I won't even get into the topic of why US banks would trust someone from Russia with their financial security).
So what if the banks simply take the techniques of ethereum and repackage it as "SecurTrans" or "BlockSecure" or any other clever name?
You see... you're betting that banks will choose to use someone elses product instead of simply setting up their own. But the banks have every reason to do it on their own and several reasons not to trust it to someone else.
For now, the banks are happy to let someone else do the leg work to test if it will work, but once it becomes profitable and provable they will simply copy it and call it their own.
Meanwhile, people who are buying and selling ETH are treating it as though it were a real currency and the whole cryptos as a FOREX market when it's not.
Like I keep trying to stress to people... this isn't my first rodeo. Being an old fart I have living memory of the various times people have fallen for this sort of thing. The pattern is predictable.
>>1058285 The only correct or logical thing you said in that entire post was that you are an old fart.
Yes it is an open source project, yes, the banks can easily take the ethereum code and make their own blockchain.
But all that means is the banks will be able to use the same technology between themselves that people do on the public ethereum chain.
They serve utterly different purposes. Bank chain for bank shit, public chain for public shit. Yeah? Got it?
The banks starting their own blockchain doesn't mean that the public will even need or have access to the tokens used in that private chain because outside if that pricate blockchain those tokens will be utterly useless.
What WILL be useful is that the banks will have the infrastructure to handle tokens and contracts created on the public chain. Which means the public ethereum blockchain will have access to vast pools of capital that the banks own.
Direct frictionless access from public blockchain to private bank infrastructure.
Meaning no fee exchange from USD to ETH.
I will be able to call my bank (or use a pc) and tell them to move $2000 to my ETH address and that will happen nearly instantly with no fees. Wait i don't want usd i want my money in a token that represents an ounce of gold and i want to send it to zimbabwe. Done. No fees. Done.
You know, you can convert your dollars to ash and all it costs you is one match.
Most of us can already move money from one place to another without fees.
The basic idea hear seems to be that ETH is going to act as a store or transfer mechanism of wealth. In other words... a currency.
The problem is... unlike a currency, ETH doesn't have stability. the prices is all over the place. When you go to bed with $200 in ETH, you have no guarantee that you will wake up with the same $200.
Yes, real currencies will fluxuate... at least a little, but short of a Weimar situation, it doesn't move that much. And in the event of a real Weimar situation, ETH will become illiquid so you'll lose anyway.
If you're talking about using ETH simply as a transfer method across the globe, OK. But then there's no reason to actually HOLD ETH. Rather, you would simply use it as a method of conversion in mid transaction. But since there are already well established ways of doing that already (with no fees), why would anyone bother with ETH?
Again... it seems like the speculation on this stuff isn't about the actual utility of it, but hoping to gain on the price conversion as more and more suckers try to get in for a quick gain.
ETH, like bitcoin, represent everything that's wrong with most peoples way of thinking: it denies history, it denies common sense, and it eats up the people who can least afford the losses.
>>1058339 The ethereum blockchain can be used to transfer tokens representing literally anything you want. Gold, US dollars, frankincense or CS:GO skins.
What makes ETH valuable is that it will be the only token that is used to pay for logic operations on the turing complete virtual machine that comprises the ethereum network. Anyone sending gold tokens or any transaction will have to pay a miniscule amount of ETH to the network. This also prevents bad actors from spamming the network and slowing it down.
This is geared up or down within the ethereum logic using something known as "gas" the price of which is set by the free market of nodes, meaning whatever the price of ETH any existing contracts will not be affected by volatility in the price
It's literally a perfect system and a product of far more briliant minds than either you or I. It's highly unlikely that you will be able to poke holes in tge whole thing over 4chan.
Good luck fighting the future, because we will build it with or without you
Let's break down what you are saying for those who are following at home...
>What makes eth valuable is that .. here we go.
>it will be the only token that is used to pay for logic operations. ... the only method of payment accepted on
>the turing complete ... basically means nothing. All modern computer languages are turning complete (such as C, Java, C++, Lisp, ECT)
Basically, turing complete means.... whether 2 computers running the same code come up with the same results.
>virtual machine a virtual machine is basically a piece of software that allows a computer to act like a common machine
>that comprises an Ethereum network which runs our block chain software.
So.... in total, this...
>What makes ETH valuable is that it will be the only token that is used to pay for logic operations on the turing complete virtual machine that comprises the ethereum network
actually means this...
... it is is the only way you can pay for use of our block chain software on our network.
In other words... this is basically like the rolls of tickets you get at a carnaval when you play the games.
1. You spend real money to play the game. 2. You get tickets for playing the game. 3. You can use the tickets to buy stuff at the carnival at a price far more than you could have with real money down the street.
Call it my act of charity for the day. Any dollar I save the suckers from wasting on this flim flam artist is more that they can spend at my business or use to put food in the mouths of their children.
>>1058457 So a penny stock skyrocketed and you missed out?
You know that you miss out every day because if you look at top gainers every single day there's a few stocks that shoot up 60%+, even over 100% sometimes... Yeah you'd be rich... If you happened to put all your money into this one stock at this particular time and sold at the very peak.
What some idiot is willing to pay for something does not always mean the same as what something is worth.
This is how bubbles work. Once the bubble starts, common sense goes out the window and people pay outrageous amounts of money for junk. NOT because they think it is worth it, mind you, but because they think the next person in line will think it is worth MORE.
THAT is the essential message of this ETH scheme.
People are being told to use real money to buy ETH. Not (usually) because of the long term utility or value of the process, but because it's "hot" and the next person in line will be willing to pay more, making you a tidy profit.
The solution to bubbles is not more bubbles. The solution is to not get involved in the first place and to try to warn people off when new ones pop up.
>>1058521 If you don't see value in distributed cryptographically secured ledgers especially turing complete ones, then don't invest. No one has a gun to your head. I'm simply telling you you're making a huge mistake.
>>1058587 Deflationary currency disincentivizes investment and exchange, as evidenced by your fake money presently. Nobody spends it, unless they are spending it on real money to cash out. Great system...
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