Go to the IRC devchat right now. They are talking about the lack of funding and concerns about the future development of the core platform.
LOL ya ehterfags about to get BTFO. Expect it to drop to back to $1.50 by the end of the day.
hmm, lies on the internet, wouldn't be the first time. OP if you have some breaking news why not post a link? why not post screenshots. oh wait you're talking out of your ass.
ethereum has had funding problems all the time. this is old news. why would the funding problems be worse now the price of ETH has increased by 3X in the last month?
I challenge OP to provide one shred of evidence for his claims.
what does have massive problems is Bitcoin. Bitcoin has a "foundation" which acts as nothing more than a club for whales. bunch of shady businesspeople doing back room deals to screw over their collapsing community.
no one can decide shit in Bitcoin the whole thing is a pile of wank.
The fact that the volume is 1/8 what it was 2 days ago and that no-one is talking about it anymore is pretty clear indication that the pump is over.
Anyone still holding it is a bagholder. You got duped.
E-e-ethereum is t-t-tanking right guys?
Nah. Still moonbound my friend. The volume is down on one exchange because chinese traders can now use their own exchanges instead of poloniex. And presale holders that wanted to dump are running out.
Slowly the price will creep up and up, there is no one to dump the price is above 0.006BTC and that is the new bottom.
ETH is headed to the moon.
>things that arent true.
>"i own a crypto exchange"
>"eth is way overvalued"
You don't own shit apart from the clothes you're standing up in and Ethereum is way undervalued right now and you know it.
I do own an exchange though, why would I make that up?
>Ethereum is way undervalued right
It's overvalued. The price is being pumped and in the next few days / weed will be dumped, wait and see. Is this your first crypto btw?
Bitcoin, Litecoin, Dash, ETH and Bitshares are my picks.
ETH is a good long term prospect, but I'd wait for the bottom (somewhere between $0.50 and $1.50) because right now it's way overvalued and has little to no utility/apps.
You really think I'm going to tell you which exchange? Right after I called my customers fools? cmon senpai
There's already a decentralized exchange (openledger.info) you pleb. Also, how is etherex going to manage fiat>crypto exchange? Oh yea, it can't.
Exchanges are an essential part of the crypto ecosystem, you salty nigger.
>How is etherex going to manage fiat?
Oh wait whats that sound? the sound of 12 banks using ETHEREUM for their interbank blockchain.
You silly people can you not see which way the wind is blowing?
>"As the announcement says, the use of Ethereum was fairly incidental, and I think in the long run R3 will conclude (as we have) that for applications focused on asset transfer and exchange, a bitcoin-style architecture (in which assets sit inside transaction outputs that are directly spent) will perform better than an Ethereum-style architecture (in which assets are only moved by general-purpose code)."
If you think etherex is going to have fiat>crypto exchange available to the majority of people within the next 5 years you're going to be very disappointed.
Dash = Solves Bitcoin's fungibility, privacy, governance issues etc
BTS = Decentralized asset exchange
Why would me saying I believe these have great future potential make me "Mr Shill"? I'm not telling you to buy them, I don't care what you do.
>I don't understand them so they must be shit
They are shit because they are objectively shit.
Finney laughs at you from beyond the grave.
Sometimes a great concept can come to early. Most roads point to failure for ETH and their best case scenario is to be bought up by a major corporation and changed completely.
What we'll most likely see is a suspiciously similar corporate attempt at the same thing.
>quoting some old dingus outsider that is speculating on the reasons why the banks are using Ethereum
that guy also got rekt by Vitalik on rebbit
>If you think etherex is going to have fiat>crypto exchange available to the majority of people within the next 5 years you're going to be very disappointed.
I think you're greatly underestimating the pace of change of technology. when btcrelay is complete, there goes all the exchanges capturing fees from trading the ETH/XBT pair
the banks and legacy systems will be slower to adapt, sure. there are also a lot of smart developers at banks who are acutely aware of Ethereum
I highly doubt you run an exchange
How can I create my own simple Paypal $ to BTC exchange?
The one site that is doing it is propping up the price of BTC by 80%, so I think I could be able to make good cash with this. How?
I don't follow ETH that closely to know what that kid says desu
>when btcrelay is complete, there goes all the exchanges capturing fees from trading the ETH/XBT pair
1. My exchange only deals with fiat>crypto so it really doesn't effect me or my service
2. There will always be fees
>the banks and legacy systems will be slower to adapt
My 5 year estimation for majority is still correct then, also what makes you think banks (if the do want to work with crypto) aren't going to offer the exchange service directly themselves and make money from fees?
>I highly doubt you run an exchange
Doubt all you want, I don't care.
Accepting PayPal payments is pure cancer. No matter what you do you'll end up getting chargebacks and make a loss, unless you charge crazy markups like the one you mention. No matter how much user identification verification you ask for, you'll always get fucked over.
>2. There will always be fees
yeah, it'll cost like 15 cents for a trade instead of some juden percentage of the trade
>My 5 year estimation for majority is still correct then, also what makes you think banks (if the do want to work with crypto) aren't going to offer the exchange service directly themselves and make money from fees?
they might. it's not very hard to do. just look at digix. you could create a dollar token that is redeemable for one US dollar in a vault in Singapore. there's no reason for an exchange to exist at that point. the fees for that system would be astronomically tiny in comparison to an exchange taking a cut of the trade
>yeah, it'll cost like 15 cents for a trade instead of some juden percentage of the trade
So if someone wants to buy $20 worth of BTC they'll pay 0.75% in fees which is 15 cents. That's a lot more than what most exchanges charge today.
>BITCOIN TO GOLD ON ETHEREUM
What exactly makes this better than Bitgold and the others? Also wtf has this got to do with fiat? You say "dollar token" (which there already is, BitUSD with Bitshares) but there will always be a market for people who want to exchange fiat to crypto via bank transfer or cash, which will always incur fees since exchanges are not charities. What you said is completely irrelevant.
You guys always seem so mad. If ETH is going to go back up wouldn't you be happy about it? If its a sure thing then some nocoiners on a Lithuanian stamp collecting forum shouldn't be able to stop it right? Be happy bro. Your 281 coins are going to make you the next financial elite.
Wow you should be even more happy, right? Even though you have lost money the last few days you can come back and laugh at everyone in a year or so. No need to be so mad, my friend.
Why so defensive? You have made 3x what you put in. Just because you lost some of it back in the last few days shouldn't hurt you that much. No need to try and diminish the fact that ETH has lost a lot of value this weekend. You are still ahead, my good fellow.
>So if someone wants to buy $20 worth of BTC they'll pay 0.75% in fees which is 15 cents. That's a lot more than what most exchanges charge today.
coinbase has said that they have like a 1% spread between the exchanges and what people actually pay for margin against volatility. they also charge a fee. kraken charges what? like .15% in explicit fees for purchases? I have no idea what margin they inflate trades and charge customers, but I'd guess it's higher than coinbase
let's be conservative and say total fees are .20% for ETH/XBT. if you make a 100,000 dollar purchase, you pay 200 bucks for a trade. that's a lot more than the 15 cents it would cost to do a btcrelay transfer
>What exactly makes this better than Bitgold and the others? Also wtf has this got to do with fiat? You say "dollar token" (which there already is, BitUSD with Bitshares) but there will always be a market for people who want to exchange fiat to crypto via bank transfer or cash, which will always incur fees since exchanges are not charities. What you said is completely irrelevant.
a dollar token would allow you to pay for shit with dollars on the ethereum blockchain or use etherex to trade any dollar pair where you aren't charged percentages
>there will always be a market for people who want to exchange fiat to crypto via bank transfer or cash, which will always incur fees since exchanges are not charities
yeah, wire transfers will always cost money. I never said they wouldn't. what's your point? I'm saying the fees will be much smaller if you wire transferred money to digix and they tokenized your dollars which you then exchanged for XBT for 15 cents on something like EtherEx
go ahead and tell me what exchange you run
>if you make a 100,000 dollar purchase
That makes up like 0.001% of purchases, most people buy much much smaller amounts.
>a dollar token would allow you to pay for shit with dollars on the ethereum blockchain
That makes no sense at all. You do know the Ethereum blockchain is not a bank right? You're paying with a token valued at $1, which is exactly what BitUSD does, but it's no different to accepting Bitcoin and having it automatically exchanged for USD. But in the end you're going to need to exchange your actual USD for your token to begin with, so what's the point?
>if you wire transferred money to digix
And Digix will charge fees just like all current exchanges do.
>go ahead and tell me what exchange you run
>That makes no sense at all. You do know the Ethereum blockchain is not a bank right?
You're paying with a token that is exchangeable for a dollar from a vault. Seems like a pretty direct relationship and better i.e. no fractional reserve banking with all the same liquidity benefits.
>But in the end you're going to need to exchange your actual USD for your token to begin with, so what's the point?
How about holding a real store of value in smart contracts instead of volatile cryptocurrencies? How about entrusting your money to a smart contract that's open source that can be audited and looked at by anyone instead of entrusting your money to a closed source exchange?
>That makes up like 0.001% of purchases, most people buy much much smaller amounts.
Also, it doesn't matter. 15 cents is .075% of a 200 dollar trade which is what I would guess is the size of the average buttcoin order by real people and not bots that make tons of 4 dollar orders. Base fees should be higher to discourage bots.