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Why is there hype surrounding Ethereum?
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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?
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itll be priced 0.0001 in 2018 and im not chipping in. this is my personal opinion.
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>>1064790
>>1064792
owning crypto definitely spices your life up more than owning shitty dollars.


And I think Ethereum will probably bubble like a motherfucker due to all this hype so I bought some.
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>>1064799
The major shilling indicates its already in a bubble. Finance 101
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Noob question, how do you buy stocks in this? I've never bought a stock in my life but I've been reading on it and want to jump in. Is this an okay first buy?
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>>1064801
Do you think that 4chan is the crest of the wave? Wait till it's being sold to your nan on late night TV adverts like gold is, that's when you know to get out.
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>>1064802
This isn't stocks. It's a currency.
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>>1064815
Then I guess the better question is how do I make money off of this?
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>>1064823
Abitrage .
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>>1064823
Buy some, wait for it to appreciate in value, then sell it.
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>>1064809
>Wait till it's being sold to your nan on late night TV adverts like gold is, that's when you know to get out.
Oh geez. You really believe this....
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>>1064828
The bubble is definitely not over by a long way. Bitcoin holders are getting nervous, they could all rush to get into ethereum. Bitcoin is crashing right now as we speak.
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>>1064838
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.
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>>1064860
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.
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>>1064880
>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.
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>>1064838
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...
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>>1064916
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.
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>>1064918
Bitcoin is more widely accepted. It's like paying cash for a one-store-only gift card.

The fun stuff with eth is all the crazy augur gambling that will come about
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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?
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>>1064931
Im tempted to give it to you with both barrels anon but my shilling energy is waning.
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>>1064931
Give it to you hard just how you like it
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>>1064931
Etherium: the best challenger in the data-coin market.
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>>1064790
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?
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>>1065030
it's been 3 hours. why don't you do some fucking research on your own?
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>>1065037
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.
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>>1065030
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.
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>>1064931
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:
https://www.youtube.com/watch?v=yegyih591Jo

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.
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>>1065072
can you explain if zcash is a good investment or not?
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here's why

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.
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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.
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>>1065305
Shapeshift.io
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http://slock.it/

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 %.
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>>1064790
https://veritasregnumblog.wordpress.com/2016/01/28/ethereum-the-new-kid-on-the-block/
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>>1064790
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.
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>>1065646
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.
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>>1065652
>>1065646
Never really got into crypto currency so never understood exactly how you buy and sell it for dollars
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>>1064880
This, eth got shilled for months and the shills were right. The rest is just sour grapes.
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>>1065674
You're welcome famalam my donation address is in the other thread.
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>>1064790

It doesn't even have a working wallet.

It's a fun risky investment.
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>>1065776
But it has.
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>>1065785

Where is it?
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If you aregoing to buy any buy it now before the homestead arrives, which is jut around the corner.
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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.
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>>1065905
>long term investors
>shitcoins

might as longterm invest in yu-gi-oh cards
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>>1066004
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.
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>44 replies
>CTRL-F
>"Smart contract"
>Zero results
/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.
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>>1066049
Yeah, good luck with a smart contract no one uses because no one knows about it
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>>1065079
Not sure, It won't go viral. Might float around current price for a few years.
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>>1066032
Yeah? What kind of project? Let's start a money transmitting buisness with ether eh? Like a foriegn exchange buisness?
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>>1066060
Anything
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>>1065072
am I the only one that's seriously unsettled by this?
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>>1066120
No because it isn't true.
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>>1066120
>unsettled?

The idea gives me a rock hard boner
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>>1066032
lmao this is a board about business and investing. Of course you're going to see everyone attempting to make money off of the currency.
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>>1066004
That's why I don't invest in the long term.
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>>1066222
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.
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>>1066227
What dapp ideas do you have? A geoup investing dapp might be fun. Everyone votes on what to invest in and the dapp will pay out dividends to all the participants.
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>>1066255
Maybe the dapp could be designed to pump and dump low cap shitcoins methodically.
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>>1066227
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.
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>>1064790
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
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>>1067600
doubles confirms xem

>breakdown for you:

>blockchains provide a ledger for banks and companies

>less manual labor

>less money

>less energy

>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
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>>1066120
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.
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>>1067907
REEEEEEEE
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>>1067609

If everything's public isn't all payment confidentiality gone? Isn't that the opposite of crypto?
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>>1066260
I know I'm late but that sounds like a cool idea (guy from yesterday).

>>1066482
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.
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>>1066260
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.
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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
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>>1069798
CITE YOUR INFORMATION DICKWEED

WHY WOULDN'T VITALIK DUMP HIS MILLION ETHER IF HE THOUGHT IT WOULD BECOME WORTHLESS? HUH? SHUT UP IDIOT
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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!
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>>1064790
Don't be retarded OP. Crypto is shit, invest in something worthwhile.
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Ok I'll bite, how do I get some of these things? Never bought cryptocurrencies before.
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>>1069834
go away, you're giving terrible advice. This could be the single most important economic innovation since the industrial revolution!
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>>1065814
Even i found and setup the wallet after one Google search you dumb nigger
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>>1064809
You are "nan" in the modern market place. Does that make you happy or sad?
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>>1067907
i got a boner
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>>1067907
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.
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>>1067907
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.
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>>1069928
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.
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>>1069928
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.
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I'm going to mine it while I can and right before the PoS switch I'm going to sell when the hype is really high.
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>>1069933
I suppose the scariest part is this:

Ethereum would exist outside and above of international law.
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>>1069935
sexual. I think a little bit of cum just came out thinking about it.. (Ethereum not beyonce, JZ already ruined her)
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>>1069937
That's probably a good short term idea, but I'd only sell a chunk if I were you. It could reach moon status a couple years after the switch.
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>>1069938
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.
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>>1069941

Probably will go through the roof when I sell. I also sold Bitcoin at $18 in early 2013.
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>>1069944
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.
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>>1069946
>always do the opposite of what this guy is doing
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>>1069944
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.
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>>1069951
Who's to say that that isn't exactly what society needs right now?.....
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>>1069949

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.
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>>1069957
actually I take that back. I don't want hundreds of people to die, but I'm talking about the major disruption aspect.
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>>1069951
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.
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>>1069962
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.
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will this make governments die of starvation?
boy that i'll be gold to watch
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so does it farm like bitcoin in the sense that there is a finite number of them?

everybody with mining rigs already has a headstart
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Watch a few interviews with the devs and you''ll lose all faith in this turd crypto.
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>>1069984
you have a link to these interviews?
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>>1069962
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.
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What makes me most optimistic about it is the contrast between people who believe it its potential and those who don't. You can't overvalue a good community.
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>>1067951
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
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>>1067600
>its about the blockcahin
>not the currency
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