>>1064496 You haven't looked into what the differences are between these coins. The reason we know is because since bitcoin was invented we spent every single day of our lives researching and discovering all about cryptocurrency.
It's exactly the same level of analysis that goes into analysing stocks or forex. We read about it every day and we can "feel" things about coins that someone who is just looking at the logo and shouting "shitcoin" will never understand
People make tons and tons of money from this market so don't just discount it.
>>1064536 Are you talking about ethereum? Well, from my perspective when I evaluate these things I don't care so much about the technical aspect of exactly what the code is or how it functions. I just see that it does and that it has academic merit. Thats enough for me.
I'm looking at the people behind it, are the devs willing to be in the public eye? Or are they hiding behind anonymity like people who are up to no good generally do. Yep ethereum devs are very public I know their names and the location of their offices. that alone puts it head and shoulders above every other crypto for me.
Now, I look at the people behind it, who were the contributors to the research and which sort of people were early investors. Now with ethereum you see some well respected names in there, Nick Szabo for instance. Also, you see some VC funding, you see people like peter thiel. Professional businesspeople. What other coin has that? Monero has risto pteila a loony latvian millionaire silver bug who ended up in a mental hospital.
Making a cryptocurrency a success in this regulatory climate means jumping theough legal and regulatory hurdles so you need these sort of connections at a higher level.
You put the pieces together gradually and you come to a certain conclusion.
>>1064560 Well i do know what it does, i just don't know exactly how it does it. Basically it allows you to program with money and law. If you want to know a deeper explanation than that i suggest you go to a more official source.
>>1064575 >What you saw was someone who was angry at something they don't understand because someone representing that thing had an internet argument with him at some previous time or place
No no, he quite fluently destroyed the shills and made them unable to retort. Brought up many good points to which I was unable to find an answer to which means I do not understand/believe in this project which means I should not invest in it.
Even if it gets moderately successful possibly, I'd rather just take the chance and not bother with it.
>>1064555 What makes Ethereum better than Ripple? Aren't they both basically the same thing? Yet I think Ripple ACTUALLY has banks using it rather than "testing" it out for size. Also, Ripple beat Ethereum in developing smart contracts first. Codius came out a long time ago. Not aware of anything new that Ethereum brings to the table.
I'm from reddit, don't kill me: ETH and other cryptocurrencies is a distributed accounting book which is as simple as subtraction and addition. If you send 2 monies to me then -2 on your account and +2 on mine.
Ethereum took a step back and looked at all the pieces that made a cryptocurrency. In it - they've noticed that a blockchain (the distributed accounting book) could handle way more then just pluses and minuses. So they took that essential part and build it to be Turing-complete instead. That essential part is now called a 'smart contract'.
How to explain it to random strangers? Ethereum is a distributed computer. People could pay 'gas' (Ethereum's miner rewards token) to do calculations for them by only needing a cell phone like a Nokia 3310, a connection and electricity to charge. For example, between a woodcutter cutting wood and a wooden bookshelf in my room requires a lot of steps. All those steps are (in an ETH economy) a 'smart contract chain'. If the wood gets to the next step, a new smart contract gets added to the chain. At one point I've bought the bookshelf for $100, could I know if the woodcutter got the fair deal? In an 'smart contract economy' The woodcutter could get the fair cut IMMEDIATELY of the $100 that I've spent at the store. Once I've placed $100 worth of Ether in the address of the store to buy the bookshelf, it triggers a whole smart contract chain backwards. So everyone involved in the smart contract's chain get's paid his cut.
I know that this is an extreme example, but we're just beginning with thinking and imagining what it could do. Microsoft isn't pushing ETH to companies, but instead invite them to play, learn and fail in order to innovate from within.
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