Why is there hype surrounding Ethereum?
As far as I'm concerned it's just another bitcoin ripoff that will be subject to pump n dumps and stay in the $0.50-5/each range forever.
I don't think there's room in the market for a second crypto currency, so what makes Ethereum a worthy investment, or is it just a fun risky investment for most?
Don't know why you guys need multiple threads to say the exact same things over and over and over. Whats sad is that part of /biz/ that buys cryptos probably has the collective buying power of a nun. That means all your incessant shilling for the last 3 months maaaaaybe got 10 people to buy $50 worth and raised the price by .00000001. I don't think you realize that it is the whales that move any type of real volume and they can pump/dump whenever they want. You have literally 0 control over the price. Don't insult my intelligence by saying the only reason you want /biz/ to know about ETH is that you want us to be rich either. It would hurt my feelings if you thought we were that stupid.
every person who bought ETH from christmas day until yesterday morning either doubled or tripled their investment.
If they continue to hold ETH for another month they could multiply their investment by 10x
There is way too much volume in this coin for a single whale to dump it to the bottom. There is too much positive news about this crypro for any dump to last long.
The other night an entire exchange went offline at the ATH and its already pretty much recovered.
>every person who bought ETH from christmas day until yesterday morning either doubled or tripled their investment.
....thats kinda what bubbles do....
>If they continue to hold ETH for another month they could multiply their investment by 10x
Eh. Don't be offended when I say I'm just not buying it. I was right about BTC, PND and Doge running out of steam. I think this pump is just about over too.
The only way to get ethereum now is to use bitcoin.
Thus the value is linked. One can't go down while the other goes up.
If the demand for ethereum skyrockets.. The demand for bitcoin will too...
BUT. The link doesn't work the other way. If the demand for bitcoin goes up, it doesn't neccisarily mean the demand for ethereum is going up.
Bitcoin is the safer investment at this point.
Can someone give me their best pitch for ethereum as if you were a broker wanting someone who has no idea what crypt$ is to buy eth?
Etherium: the best challenger in the data-coin market.
Out of the 20 replies, nobody has answered my question directly. Is there ANY benefit to using (actually using as a currency, not riding the pump n dump waves for tiny profits) Ethereum over bitcoin? Why is Ethereum blowing up (getting shilled) vs all of the other 2nd tier crypto's?
Because whether or not a currency will be successful isn't objective. I'm asking for /biz/ browsers' opinions. I'm asking them to justify why they're investing in this specific crypto currency over the hundreds of others that are worth <$1/1000 units.
Ether is being shilled as it is because it actually requires some programming knoweledge beyond just starting up a exe and typing in payment amounts.
At least, that's what I think is happening.
The idea behind Ethereum is that it's a currency that's used to power the running of apps and transactions on the first global computer.
See how bit-torrent works right now. It's basically unstoppable. The authorities can't do anything about it. It's decentralized. Ethereum hopes to build a platform (powered by the "Ethercoins") that allows you to write whatever apps you want in the fashion of bit-torrent.
That means you can literally ahve a website where people bet if there's going to be a major terror attack on new years day. And put hundreds of thousands of dollars into it... and the authorities cannot stop you.
It basically allows deregulation to happen to financial transactions so that things like silkroad and nutty de-regulated gambling can happen without stop and in an easy and accessible way.
It only takes a minute fraction of "Ethereum" to run an operation, and that 'payment' is distributed to all the 'nodes' globally that helped process it.
Some early phase projects already running on ethereum and using Ether include: Augur:
So it's not really just another shitcoin that people buy now and sell for more later due to hype. Hopefully it gets to the point where big organisations have 'services' running on this global computer and they will NEED a lot of Ethereum to keep their service running and profitable. It is literally capital for running a program on the global computer and so it's backed by that.
if you ever got into shitcoins before, you know how all of them were all hype
except ethereum, because it is well engineered, developed and funded. if you read about it and understand mostly what is going on, rather than it just sounding good, you know it is good.
What exchange do you use for ethereum? I bought some eth with btc on kraken but not sure how best to cash out as im based in australia.
Do i just trade my eth back to btc and resell for cash or is their an easier way? Not selling yet but interested for when the time comes.
This startup has great hype around it. They will have a crowdfunding for their own coin somewhere in Q1. Only it is a coin based on ethereum, not only that, it will be purchasable with ether only.
It alone will pump ethereums value by at least 100 %.
Some interesting startups use ethereum based technology.
You can make your own crypto tokens with it that you can trade, that have different values, but use ether as base currency. For example sweden could have Swecoins and Norway Norcoins, that would be of different value. But they would be interchangeable with ether as base value.
Also Ethereum Homestead (the real homepage of ethereum) is almost ready for release. They are currently testing it, and it's only waiting for approval from few main persons behind it.
Also ethereum foundation is noprofit organization, that has lots of members. It also has open source community behind it.
The market operates by whales pumping and dumping. Yes they can dump whenever, but they don't do that because they love feeding off of volume. Whales aren't irrational neet fucks like 90% of the investors. You can, with good certainty, predict these cycles anon.
Buy whenever it dips near the 24 hour low and starts trending upwards and then sell in the 25% range of the high.
This can only be done at certain times. Right now alts are bullish because of BTC's stagnation.
Investing long-term is probably riskier than swing trading them. I don't give a fuck about the future of cryptos. I only check out the ones that sound like something a neet faggot would think was cool and tell their neet faggot friends about. <- Read the whitepaper and follow the developers on Twitter and look up any articles you can find about the coin on reputable news/blogging sites. (this is your equivalent to fundamental analysis.)
You're essentially riding a bubble, so go in knowing your entrance and exit strategy. It's very easy to predict when these things will go up, but it's hard to know when to exit.
Don't listen to people who talk about "blablabla you're going to lose all of your money when the bubble bursts blablabla." Fuck them, that only applies to long-term investors. Not to you, because you'll use a stop-loss to lock in your gains.
anybody wants to fuck some people over and write some dapps? Or to start a serious little fun buisness? I really like the idea of ethereum and the concept as a whole. The problem is most of the guys on this board only see it as a currency and want to make some money, even though they are not even able to google how to get ether. If anybody wants to start something I'm open for it. I know java and I'm looking into solidity atm and wrote a small "lottery" dapp.
/biz/ has got to be the stupidest board on 4chan. Go back to Forbes and Business Insider and leave cryptocurrency discussion to the people who didn't settle for a degree in Business Administration.
I don't have a problem with them wanting to make money, we share the same goal. I am just really surprised that these people are so fucking stupdid, that's all. You can't even call what they do attempting to make money, as they fail to even google. They want everything on a silver tablett.
Many of us here on /biz/ are CS majors looking to dabble in finance and economics.
I don't think it's that people are stupid, it's just a very speculative technology right now. It could turn out to be the next automobile-like advancement.
Whenever Horace Rackham was looking for a loan from the Michigan Savings Bank to become one of the first investors of Ford Motor Company, the president of the bank told him that the Automobile is nothing but a fad and that the horse and carriage is here to stay.
People could be that fucking wrong about all of this, but still. There's a ton of risk involved.
its about the blockcahin
not the currency
thats why there is hype
I personally think ethereum will help open minds to blockchains, but xem will win
doubles confirms xem
>breakdown for you:
>blockchains provide a ledger for banks and companies
>less manual labor
>less chance of major heist
>keeps everything public and confirms transfers of funds
think of the block chain like a middle man
instead of trusting people who can fuck up
they will use an algorithm that will be the ledger for all transfers of monetary values
Why would you be unsettled?
It gives us a shot at the wild wild west internet we always wanted.
It is a big middle finger to all the comcasts and film industry jerks that try to regulate the internet because they can't adapt.
The only bad thing I can think of hapening is that the big media execs get so mad at Ethereum that they try to 'buy out' a massive sum of the currency 'eth' in an attempt to buy and hold the currency so that no one can easily deploy apps, killing the thing.
but if that happens the demand for the coins will go through the roof. So early buyers win from just selling it to big media for $10k a coin or something ridiculous.
It also opens up a whole new world for financial transactions. Credit card ID? Pfft. No need. No one needs to know who anyone is or who's buying what.
Stock markets that work 24-7 and can't be 'shutdown' just because prices are falling and spooking the big government holders.
Voting systems that can't be rigged or 'bought' out on a fundamental level no matter how much old guys stomp their feet and whine.
It has potential to be really dark, but it's a shot at true internet freedom.
I know I'm late but that sounds like a cool idea (guy from yesterday).
Yeah, I can understand that. This whole thing is really complicated and the fact, that you have to buy btc first etc. is not making it easier for people who want to invest. What I meant was taht they ask questions here and wait minutes to hours for an answer instead of typing it into google and trying to solve the problem by themself.
Maybe a DAO where people can vote on what to invest in or like a small stock market? I don't know if you are familiar with bdswiss but maybe something where you can decide between saying that the course will go up or down and decide the time how long you will wait. For example, BTC will go up, 60 seconds and if it goes up they win, if not they lose some. No one can get cheated plus no personal info whatsoever.
why are you faggots so jizzed up about ethereum
even vitalik says not to buy the shit as a buy and hold because the only way to kick start le world computer is to keep creating a fuck load of tokens thus inflating your NEETbux 2.0 away to nothing
The more I think about the possibilities of Ethereum the more excited I get. Right now my head is buzzing with ideas.
trustless smart contracting eliminates the entire industry of auditing. This industry that employs millions is the walking dead and they don't even know it yet.
It actually brings immense value to society and opens the way for a star trek like future economy where centralised trust is a thing of the past.
I want to go to sleep and wake up in two years in an ethereum world.
you could almost say I am EUPHORICLY ENLIGHTENED!
go away, you're giving terrible advice. This could be the single most important economic innovation since the industrial revolution!
Hoarding ETH for a long time wouldn't matter that much. The gas price would adjust appropriately over time. If they really wanted to dick with the system, they would pump and dump the shit out of ETH and make things really volatile and pricing unpredictable. I'm pretty sure they're not smart enough to do that because they'd have to do it early while the market cap is still small enough to manipulate and even if they decided to, it would take a huge commitment of resources AND they would look like evil nazis.
That's the thing if they recognized how dangerous something like Ethereum is for their buisness model they would move to buy out the project, or launch a competitor.
They don't. And that's the core of the problem. They don't adapt. They only realize it's a problem when they look at a graph of their customer base dropping year after year, and they do what they've always done. Either sue or lobby to change a law to make it illegal.
This time they can't do either of those things. They can either throw a lot of money at it when it's market cap is already huge in an attempt to destablize it/buy it out. (All early adopters of Eth get very very rich and wel'l end up making another one anyway XD)...
Or they quietly go out of businesses like blockbuster vs netflix.
I think it's inevitable that most of them disappear. This generation is much more tech savvy and won't fall for their jew tactics of trying to "oy vey, shut it down" like they did with megaupload. There will be too many businesses that rely on the network this time and it's just going to be out of their control. I'm pretty excited. Monopolies and silo'd institutions can extract way more value from society with the current model.
It's a way to shift the balance of power in the world in the most cheeky way.
Remember that time that Beyonce had that ugly photo of herself online and she started threatening to sue people for posting it and wanted to 'take it off the internet'.
Imagine that but with massive companies getting very pissed off because un-take-downable services are eating their market share and they can't do anything about it.
It's not really scary. It's just a new reality. It's going to be the system of binding international law that we've never had. Banks and markets will be able to interact on a global level that transcends domestic law.
The law will become irrelevant at that point. The only thing they will be able to do would be to throttle bandwidth globally like egypt did during the arab spring, A suicidal move for a modern economy.
>always do the opposite of what this guy is doing
I just mean that using prediction markets people would be able to bet on all kinds of things.
Like for instance "Will a major terror attack with over 100 dead occur on new years eve this year".
And the stakes for it happening could be high enough that it might compel someone to go out and actually MAKE it happen for profit...
and there's no regulatory authority to shut this down once it's out there. This could happen and there's nothing anyone could do to stop it.
Who's to say that that isn't exactly what society needs right now?.....
Pretty much. I started selling gold and silver coins to Bitcoiners after getting fucked by PayPal. I think gold and silver were pretty high at that point. Still made off with a little gain and gold and silver plunged. I think I got around 2-3 BTC for just a American Silver Eagle back then. They are probably more mad than I am.
actually I take that back. I don't want hundreds of people to die, but I'm talking about the major disruption aspect.
I think there's a number of things that make that scenario unlikely. First, I doubt many people would bet on a prediction like that and the "reputation" system devised by augur may add a feature that disincentivizes reporting on illegal activity, terror attacks etc. Ethereum and Bitcoin aren't completely anonymous. If an agency employs sophisticated tactics to figure out where the money is going, they can generally figure it out unless their opponent is also very sophisticated. Terrorists don't tend to be very sophisticated.
And if there was some big prediction like that, it would also alert counter terrorism groups of the future to be on higher alert.
yes, it would probably provide a highly accurate prediction of the next likely terrorist attack through the wisdom of the crowd. although any would be terrorist could see what the market is predicting and choose another target that was either predicted as highly unlikely or just average.
All the thought experiments in the world can't predict where this could all lead.
Well Augur does have a rep system, and lot of the Dapps we're seeing developed now are pretty white hat socially conscious.
But wel'l probably eventually see a silkroad style market set up soon. One's that focus on anonymity and exist off-shore.
The thing is this. The way the prediction market works is by Odds... If everyone THINKS there WILL be a terror attack. it pays very little for there to be one.
If everyone thinks there WON'T be a terror attack there's a huge incentive now for there to be one.
its anonymous, no one know who or why, they just see the confirmation.
its anonymous for us to use it, we control our money
however its public to show any illegal possible activity
thats' how true for the people should work.
not the other way around
also praise kek and dgb 120
>its about the blockcahin
>not the currency