ETHEREUMKEKS ON SUICIDE WATCH
When will we see a steep rise in suicides of people described as "lonely, overweight men with an unusual amount of scruffy hair on their necks"?
I hope no one on /biz/ actually bought any significant amount of this garbage... r-right? You didn't, did you anon?
Ethereum isnt just another shitcoin tho, there is no other altcoin right now like it. It might take a lil while but its gonna go to do to the moon once decentralized marketplaces start running on it and to mars once it goes mainstream. I invested another r9 280x gpu to mine on it which will have it paid off at most 3 months at the current price. Enjoy being poor
>he's only been paying attention to Ethereum for the past week
Don't know why you're butt-blasted, it's still up pretty significantly from where it was a couple weeks ago, and it's still over pre-sale. Additionally, if you're smart enough to set up a server and work in command line, you've had since August to be mining this shit for less than a dollar in power cost per coin.
I could go into the details on why I think that $2.15 is a great place to buy in, and the huge potential behind a decentralized ledger with a Turing complete smart contracting language, but in all likelihood you wouldn't listen.
Ethereum doesn't have the room for Bitcoin-like gains because of the higher launch value, but the people with insight into decentralization and cryptography see where this is going, and Ether is significantly under-valued considering it's use in the future economy. The amount of work being done on the network currently should be evidence enough of that if you'll only do yourself the favor to look.
But you won't, so go ahead and feel stupid in a couple of years just like you did when Bitcoin shot to $1200 a piece and you remembered when they were less than a dollar.
>the huge potential behind a decentralized ledger with a Turing complete smart contracting language
What the fuck does that even mean?
You can't just string together buzzwords and think that's convinced anyone to buy in.
I'm not trying to convince you to buy in. Do what you want. If you want to think that what I said is gibberish, go ahead and do so. Or you can, you know, Google it, and maybe you'll learn something. It's whatever.
>I'm not trying to convince you to buy in
>I'm not trying to convince you I'm just writing 3 paragraphs of shilling and trying to preasure you into buying using common sales tactics
>b-but I don't care if you do or not!
I mean, it would marginally increase the value of my investment if you bought in, but I'm not in Ethereum for short-term gains from a bunch of tea leave reading speculators. I'm counting on the long term impact of the network, which is still a little down the road.
So actually, rethinking it, $2.15 is probably not even the best you can do. We've still got a while before there's anything usable on the network, so I expect it to fluctuate wildly between now and then as more day-trading chumps latch onto the hype without understanding the underlying technology.
At the end of the day though, I have no delusions that I can convince some dipshit to buy Ethereum by talking about decentralization and cryptography on a board full of business school drop-outs. And if I convinced the five of you here to buy in, the effect on my finances would be so small that it wouldn't be worth it.
Ultimately, you and the couple hundred you would pump into the economy for the next week before backing out like a chickenshit in a couple of weeks mean very little to me. So go ahead and feel smug, I didn't fool you!
I'm holding 500 and you can go fuck yourself.
These fluctuations mean nothing.
Eth was made to lure in all the pathetic NEETs who missed the bitcoin train and then proceed to waste their time (and money) with meme shitcoins.
>rumors popping up all over the NEET shitcoin forums, a new revolutionary shitcoin is on the way that will change everything forever!
>"keep an eye out!" all the knowledgeable unknowns say, "it will be here soon!"
Suddenly the mysterious eth webpage pops up with fuck all information on it, just pseudo philosophical bullshit. And the edgy anarchist NEETs who hate government and spend hours in the comment section of youtube conspiracy videos eat this shit up. Meanwhile the 'very wise knowledgeable unknowns' continue to peddle this garbage on reddit and whatever else site the NEET losers flock to.
Fast forward and here we are. All these NEET losers who were desperately hanging to promises of riches have successful lined the pockets of a handful of people who saw an opportunity to manipulate stupid NEETs.
Am I right or am I fucking right? This shit is a scam anyone who doesnt see it is plain retarded.
>I don't care but I'm just going to keep replying and refreshing the thread to check for new replies
>These fluctuations mean nothing.
Keep telling yourself that it will "go back up soon!", it's a good attitude to have when facing crippling losses so you don't commit suicide.
The fact alone that someone can create a silkroad type market on the ethereum network without it being taken down like the others is just one reasons why this is going to be big. (Think bittorrents) Thats how bitcoin started but ethereum has much more to offer
Other shitcoins try and make new features but only ethereum is developing its own programming language which lets developers make whatever apps they want. The possibilities are endless.
>Fast forward and here we are. All these NEET losers who were desperately hanging to promises of riches have successful lined the pockets of a handful of people who saw an opportunity to manipulate stupid NEETs.
>Tfw you're not one of the people manipulating the NEETs and literally taking money from worthless parasites of society
Feels bad. I wish I got in on this earlier. NEETs will buy anything if you market it properly
I didn't pretend to leave, I told you to have a nice day.
I also never said I didn't care, I actually said I care a little bit. It's just that I care enough to make 6 replies in this thread, and you care enough to make 10 replies in addition to starting it.
We both care, you just care a little more. And that's okay, but you might want to get some help.
This time I am leaving, gotta go to the store. Take care of yourself, buddy.
I have already made money, lots of it. And I will continue to make more and more. Anyone investing in ETH now is pretty much guaranteed to be in tonnes of profit this time next month or even more this time next year.
It's basically the best cryptocurrency/blockchain technology ever concieved and will make everyone involved at this early stage wealthier by far.
>Anyone investing in ETH now is pretty much guaranteed to be in tonnes of profit this time next month or even more this time next year.
>implying Russian autisim bucks will even be around in a month.
Lol, it's developer community is growing faster and faster. In a months time it will be even bigger than it is now. Everyone wants to develop on the platform. It's literally flawless
You were the one who called it the linux of money.
Linux has a 1.5% market share.
If ethereum is the linux of money that means it will have a 1.5% market share of all financial transactions. Making it about 20 times bigger market cap than bitcoin at it's peak.
If your going to be that autistic you need to consider there are as many linux distros are there are crypto currencies.
Russian autisim bucks will likely be as popular as ubuntu christian edition despite the 24/7 shilling on /biz/
Thats just your opinion my friend. I see it more as the gentoo of money.
I just love discussing cryptocurrency and this is the only place on 4chan which allows it. I'm not shilling particularly because i know you don't have the intellectual capacity to understand how to buy it. But if someone wants to argue against ethereum i'll argue back quite happily.
It cannot vanish in to thin air because there is no central server to switch off. As long as there are 2 nodes running geth there will always be a "network"
If the developers were blown up by a neutron bomb tonight, anyone could contribute to the code base because it's all open source.
And what backs it is speculation on the value it will bring to society. Literally any and all financial assets are valued by speculators who buy it thinking they will make a profit selling it on to someone else. This is true of gold and stocks as well as cryptocurrencies.
Trying to argue "what backs it" is a curcular argument. "It has value" is a true statement because currently you cannot buy one for less than $2, because why would i sell it to you for less when i can sell it to the next man for $2?
>"It has value" is a true statement because currently you cannot buy one for less than $2, because why would i sell it to you for less when i can sell it to the next man for $2?
What can it be used for?
What can currently be purchased with Ether more effectively than USD?
The only value it has is it's perceived worth which is why you are here 24/7 shilling it. If people perceive it as worthless it is because it has zero inherent worth. It's nothing but electrons in a computer somewhere.
Stocks and gold have inherent value. Stocks are a portion of the company which owns real things. Gold is a real thing, you can hold it in your hands and it has inherent worth because of what you can do with it.
On top of that your gold and stocks will never dissappear into thin air unless the governments which run the exchanges vanish as well. A bit more secure than a bunch of servers... somewhere, run by....someone, who likely won't just take your money and laugh at you when this pyramid scheme collapses.
You can exchange it for nearly all currencies as well as all cryptocurrencies. You can also use it to run a number of DAO's and DAPP that run on the ethereum blockchain which allow the kind of financial transactions and "smart contracts" that have never been possible before. That is why it is of interest right now to the banking sector.
An incomplete list of DAPPS is available here
It is incomplete because anyone can code dapps that run on the blockchain so there are thousands of dapps that maybe only the creator and a few others know about that are coded to run things like a decentralised corporate structure that doesnt require mass participation.
But the USD will cease to exist when the US government ceases to exist so the is no "inherent value" just promises and hope that it won't just disappear.
In many ways ethereum is already more secure and permanent than the USD be ause it's security does not rely on a single point of failure but instead a distributed system.
>You can exchange it for nearly all currencies as well as all cryptocurrencies
So in other words I can exchange it for a currency that is actually usable because this one is not?
>You can also use it to run a number of DAO's and DAPP that run on the ethereum blockchain which allow the kind of financial transactions and "smart contracts" that have never been possible before
Why would I as an individual want to do this? What value does this happen? Explain it in practical terms please.
>But the USD will cease to exist when the US government ceases to exist so the is no "inherent value" just promises and hope that it won't just disappear
Why would the US government cease to exist?
What kind of world do you actually imagine where the most powerful and influential government in the world just dissipates? It would be a post-apocalyptic world desu, at which point I doubt I would have electricity, internet and a computer necessary to make use of this.
It's nothing like wow gold. Wow gold relies on the central wow server to tell each account how much wow gold it has. When the server is switched off the system stops working and wow gold ends, ethereum does not rely on a central server so it can never be "switched off".
Also, ethereum has many many exciting real world applications such as insurance without an insurance company, and decentralised financial exchanges which can never be shut down. Look at the dapps list to see many more real world applications that give great advantages over current solutions
>Also, ethereum has many many exciting real world applications such as insurance without an insurance company
I can insure my car and home with Ethereum??!!
WHOA NICE. Which countries' government recognizes Ethereum as an insurance provider?
The US government could cease to exist for any number of reasons. War, civil war, natural disaster, man made disaster or something completely unforseen.
Governments cease to exist all the time. It is not unheard of for governments to cease existing. Currently we live in an era of relative peace and stability in the west but just taking a look at the history of the 20th century will show you that this wasnt always the case.
The soviet union was once considered a superpower and it was inconcievable to most soviet citizens that their soviet union would cease to exist but it happened in just a few short hours and a couple of speeches.
>The soviet union was once considered a superpower and it was inconcievable to most soviet citizens that their soviet union would cease to exist but it happened in just a few short hours and a couple of speeches.
I highly doubt some electronic meme has any value when your country is in that kind of ruin.
>There is limited food in my city, high murder/crime rates and no jobs... But at least I have ethereum!
You do know the ruble kept going even after the USSR broke up.
Also why would I not just stockpile ammunition and canned goods as a hedge against complete and total societal collapse? I don't see crypto dollars on a server somewhere which no longer has electricity is going to be very useful.
Yes it would be terrible for US dollar holders and US citizens if the US government stopped existing. Because the dollar would be worthless, but there would be no way that ethereum would stop existing in that eventuality.
It is completely safe from the collapse of governments due to it's distributed nature.
Im not even a gold bug or have that mentality im just explaining how ethereum would work in that eventuality
Im not claiming that the value of ethereum wouldnt go down in the eventuality that some global financial or political calamity occurs. Because an event like that would no doubt impact the price of all financial instruments, but just that ethereum would continue to exist. It is impossible to shut down.
Aren't incredible volatile shitcoins a terrible store of value, though? Why wouldn't people just store their money in something stable like idk.... a reserve currency? Why would they ever want to put $100,000 or more in a "currency" that can lose half of its value in an hour?
Im confident there will always be a market for ETH because people see value in having a distributed financial network.
If you feel that it has no value and will drop to 0 well thats your choice. But it doesnt have any bearing on reality
You're confident? That's nice. I like how you are so confident about something that has no use outside of being decentralized (which who really cares about anyways?). Every other use case is solved already by real world services. "Ethereum is developing its own programming language which lets developers make whatever apps they wan't" is redundant and so is every other administration of ETH. "Smart contracts" can be accomplished easily without needing a cryptocurrency to back it.
You could say the same of any currency. In that respect ethereum is not at a disadvantage just equal to.
The true value proposition of ETH is the trustless financial on-blockchain contracts and transactions that the system facilitates which were either too expensive or not possible at all using the traditional financial system or traditional centralised forms of internet architecture.
>too expensive for banks
So what you're really saying is that if banks used ETH for their blockchain you would essentially be eliminating their data storage and processing costs by paying for them yourself out of the cost of ETH paid to miners to secure a network the banks should be flipping the bill for? Got it.
>"Smart contracts can be accomplished without a cryptocurrency"
No this is a false statement.
Smart contracts can only be accomplished in a distributed byzantine fault tolerant system.
Byzantine fault tolerant means that every actor in the system could try to wreck that system but the system carries on running as designed.
This is only achievable by making operations on the virtual machine (what the ethereum blockchain amounts to in practise) cost money, in this case it is achieved by spending a small amount of ETH for each logic operation.
As has been explained many times real currencies are backed by real economies of the governments who administer them.
Crypto currencies have no backing. Their value is based on nothing but the demand for it. If nobody cares they lose all their value and since you can't do anything with it except speculate it's going to become popular it's essentially a pyramid scheme.
We've already trod this ground. There is nothing backing the Us dollar apart from demand for it either, wether that demand is caused by the need to buy american products or the need to run operations on the ethereum virtual machine it is still the same force acting on the value.
The only difference is, the US dollar can be arbitrarily switched off by possibly one or a small group of people for instance any of the governments of the 12 nuclear capable states in the world could decide to "switch off" the US dollar by launching a surprise nuclear attack. Obviously this is an extreme example but it demonstrates the single point of failure
>There is nothing backing the Us dollar apart from demand for it either
Why is this concept so hard for you to understand? A single USD is worth a portion of the United States economic output. That output is a real thing thus the USD is backed by the output of the American economy.
ETH is backed by thin air, nothing.
Online gambling is one of the most solid use cases.
It allows users of online gambling to see the code that is running the game and nobody can ever change that code.
Another powerful use is the elimination of escrow. Two parties can agree on a contract, one puts up money which cannot be released to the other party until the terms of the contract are met.
Another use will be voting. Think about how wonderful it will be to know with certainty that the results of an election are 100% accurate. And not just presidential elections, but elections taking place in private and public organizations of all sizes.
Check out the dapps that are out there being made or waiting for the launch. And the greatest uses almost certainly haven't been thought of yet.
That is not how it would work. Banks would have to buy ETH in order to run contracts and pay for logic operations on the ethereum virtual machine just like everyone else.
If they decided to use their own internal blockchain just using the ethereum code then it would be an entirely sepeerate chain and the "ETH" on the bank chain would not be fungible so to speak on the public chain. It would still allow easy transfer of coloured coins or tokens representing other assets from bank to public chain in a frictionless way.
He missed the nail by a mile im afraid
Banks would never need to buy ETH, they would just transfer the bank account holders money into ETH when they wanted to transfer funds. They wouldn't need to even hold 1 ETH and take on any volatility risk at all. Holy fucking shit you would essentially be paying the banks costs for them. It's brilliant.
How will they pay transaction fees to the miner for their transaction to go on the blockchain? They would have to buy ETH because it is the only thing accepted as fees for transactions on the boockchain.
Yes, did i say that the US dollars value was zero? No. Because it is accepted as a currency for us products. But the value of a US dollar is set by the forex market where traders take in to account many factors including US economic output. It is not directly backed by some metric of US economic output.
They force the account holder to buy ETH and pay for the fees with his own fucking money. Ooooooh shit banks running on ETH is big time gangster. It's like a huge fuck you to the average person.
You are disingenuously claiming something which you know to be untrue. Why would a person pay a bank in ETH to do a transaction on their behalf when they are free to fire up their own ethereum client and do that transaction themselves without needing a bank.
The way this will be useful to banks is interbank transactions which internationally sometimes cost banks more than $30 in paperwork using legacy systems when ethereum would allow them to do it for a cent or two.
I fail to see that your point has any merit.
They wouldn't pay a bank in ETH. They would pay a bank in currency which the banks would transfer to ETH and the banks would make the account holder pay for their own transfer fees. Ooooooo fuck that shit is G to the angster. Banks holding that shit down saying suck a dick if you don't like it.
>It is not directly backed by some metric of US economic output.
I'm afraid this is how real currencies work.
Just keep shilling your bit gold, I'm sure some idiot will get confused and buy some.
you sound like you're excited about something as though you've struck some amazing insight when really you have done no such thing.
Please explain how banks will use ETH to rip off their customers step by step in a logical manner.
I await your detailed explanation:
The US dollar is not backed DIRECTLY by some metric of US economic output. I'll keep saying it because it's true.
You think that if every forex trader decided to sell US dollars the value of the dollar wouldn't plummet to zero? Because it would. No amount of economic output would prevent that kind of speculative collapse.
>this is what denial looks like
You're telling me with a straight face that if every forex trader sold the dollar until they ran out of dollars to sell (remember this is people only selling dollars no one buying) that the value of the US dollar wouldn't be zero?
In your ridiculous example where everyone is essentially just taking all their money, placing it in a pile, and lighting it on fire, just cus. There is nobody to buy it as everyone is selling so none trades hands and the price remains the same.
My turn for a question. How much money do you have in ETH right now?
Its a thought experiment. The same thought experiment you asked me to perform on ethereum I'm merely asking you to perform on the US dollar.
Through these thought experiments you will come to see that the value of the US dollar and the value of ethereum is determined by much the same principles.
In fact one ETH equals two US dollars. So currently ETH is worth more than the dollar.
I will not divulge how much ETH I own so it's pointless to ask. Suffice it to say it is not a large proportion of my total net worth.
But there is nothing to suggest at this point that ETH won't increase to 3, 5, 10 or 20 dollars over the coming weeks and months.
If you have been following cryptocurrency markets you would know that ETH increased in value due to solid news and genuine progress in adoption and real world use. By tour definition everything that increases in value must be a "bubble" and must be sold as soon as the price starts to go down.
There is no point in trying to time the market at this point when the release schedule for eth is months and years until serenity phase.
The smart thing to do would be to hold long term.
And you got completely pwned in your own thread. By me. Must feel terrible.
You literally got owned all over the place. I had to go easy on you because it felt like I was bullying a child.
You don't have any arguments against ethereum because you don't even understand it.
You do realise that ethereum is the only crypto apart from bitcoin to get its own stack exchange, which means it is considered a legitimate computer science venture. This isn't some flash in the pan pump and dump scheme, this is a global project to construct an amazing contribution to human society.
You can't effectively argue against me because you know nothing of the subject at hand. All you can come up with is vague paranoid accusations like "shill".
No, i'm not a shill, just a regular guy defending his crypto against people like you who spread FUD about it because they are ignorant.
You haven't been able to explain anything in understandable language to me.
If you are unable to do that then how could you ever see the general public adopting this idea?
Everytime I would ask you a question you would say some buzzwords or make some ridiculous scenario. I don't have to be a cryptocurrency expert to know that it's all a bunch of bullshit and you've just sidestepped questioning repeatedly.
There are few points in Q1 that will increase its calue.
First one is moving to homestead from the current network. Second is the publick slock.it funding that is expected to happen somewhere in q1, with ethereum only.
I believe the real increase in price will be when we move from homestead to the next phase of the network. It could be quite a while off though.
What would you like to know about ethereum? All you've done is slag it down as if it's all just thin air.
You know to have a conversation about this stuff both parties need to be clear on the definition of words. Words like "blockchain" "smart contract" "cryptocurrency" have definite and scientific meaning.
You are calling these "buzzwords" but thats like someone trying to explain photosynthesis to you and then you saying stop using words like "oxygen" and "chlorophyl" they're just buzzwords.
There is no meaningful conversation to be had with someone who hasn't studied the basics.
ethereum is fucking retarded and the warning signs were there from the start with the shills and delusional beliebers
don't listen to the shills, they're just trying to profit off of newcomers
It's a platform for carrying out smart contracts, which more or less makes it Bitcoin applied to just about anything you could think of, carrying with it all the benefits of decentralized interaction.
I frequent the Ethereum threads on /biz/ and it seems as though the majority of posters don't know anything about Ethereum, just thinking it's another cryptocurrency... Educate yourselves on the technology before taking action or expressing opinions, otherwise you only do yourself and others a disservice.
Again, can anyone offer meaning criticism of Ethereum, other than current pricing volatility? I'm yet to see this in any Ethereum thread...
>It's a platform for carrying out smart contracts, which more or less makes it Bitcoin applied to just about anything you could think of
And you think the global economy will actually let this platform into the mainstream because...?
R3 is using Ethereum. What do you say now?
Everyone ITT should Google "Ethereum news" and look at every link on at least the first three pages; if you aren't convinced of the value of the Ethereum platform, then you're plainly not technically literate enough to understand the possibilities and opportunities we have here.
There will be plenty of Ethereum rags to riches stories within a year, but feel free to continue bashing something y'all haven't researched. I'll be putting at least 50% of my available funds into Ethereum, just like I did when Bitcoin was at 23 cents. Those with the ability to ignore the noise, and study the technology itself will be the ones reaping the benefits. I would actually feel sorry for those missing out if only they weren't so hateful in their attitudes...
>There will be plenty of Ethereum rags to riches stories within a year,
>I'll be putting at least 50% of my available funds into Ethereum
Then do it and quit shilling already.
Oh wait you can't because your made up currency isn't going to go anywhere unless you can convince a large amount of fools to throw their money into it.
Do you really think I'm here to convince /biz/ users to put money into Ethereum? At best I could perhaps convince a few hundred people to do so, and they'd probably put in an average of something like $20. Being that the market for Ethereum is around 170 million, these hypothetical few hundred /biz/ users aren't going to do much to drive up the price of Ethereum, so I don't stand to gain anything. What you're saying doesn't make sense at all.
Exactly. So why keep shilling it? You guys have spammed this shit so much that not one /biz/ member hasn't heard of this crap and about smart contracts and about Vitaliks ballsack and about decentralized exchanges and about moon landings and about r3 and about banks testing Ethereum networks and about programmable applications and about 150 neckbeard man hours. We still don't see any PERSONAL use for this. So why keep telling us? WE DONT CARE. If after hearing all this I thought that Ethereum was going to be the next big thing I would put money into it. But I don't. The price is pretty much the same it was when it was first released. I would tell you to kindly fuck off but I know you won't and I don't know why. What do you really think you are doing here at this point except filling this board with spam?
If you think it's the most exciting development in cryptocurrency that explains why you posted initially. There would be no reason to spam posts over and over and over though unless you are trying to get more people to listen to you and buy. You (or your buddies) posted "buy ETH this is your last chance before it reaches $5!" or "if you don't buy ETH you will always be a poorfag". Then you try to make the claim that you aren't shilling this. Give me a break. You have posted more in the last week than the US mail. I don't think you realize that most of it is counterintuitive to your goal. People don't like being spammed and especially not with the same redundant crap over and over and over and over.
I can't speak for anyone else, but I'd just as soon go back and post about it on /g/ where people are semi-technologically literate if this shitty containment board wasn't the only place to discuss it.
Not really since there are a ton of newfag investors in here that will believe anything you tell them
And i use ton as a relative term as this is one of the slowest boards on 4chan
That doesn't matter because newfag investors here are usually going to be NEETS with no real money. They are going to be the ones buying $20 worth and then further contributing to the spam on this board because they think if they post hard enough and with enough conviction then this will magically turn their $20 into a thousand. Now you have a bunch of retards who don't understand the tech along with the initial shills which barely understand the tech and collectively you guys come off as uneducated and clueless to what you are even shilling.
I didn't create this thread either but it goes to show that incessant spamming is counterintuitive to your goals. Whoever created this thread did it out of spite in response to ETH shills. Compare that to PND and Doge who used to spam this board to hell. Eventually the standard response to "buy dogecoin" was "fuck off". They finally got the hint and confined all the shilling to one thread. Guess what? Nobody ever messed with that thread and they shilled with impunity. There was a mutual understanding. You might want to try that with ETH. Either that or accept the inevitable outcome of having the general response of "buy Ethereum" to be "fuck off".
>but I'd just as soon go back and post about it on /g/ where people are semi-technologically literate if this shitty containment board wasn't the only place to discuss it.
You know /g/ is a bunch of neckbeard NEETs and/or Computer science freshmen right?
Nearly no one on /g/ knows anything beyond the very basics of an online introduction to programming.
Post a real-world question thread? You either get 0 responses without bumping it repeatedly or troll responses.