Ask the world's first Ethereum millionaire anything. Why

>>1050666

How did you obtain 700,000ETH?

SAME

:3

>>1050666
is kraken the best place to buy?
is it too late to buy?

>>1050666
>All the shilling for eth going on
>666

You won't rise eth value with your shit threads Satan.

>>1050673
is kraken the best place to buy?

YES

is it too late to buy?

NO

>>1050674
Already cashed out.

>>1050670
Pre-Launch

>>1050673
Yes
No

>>1050682
Bullshit. You invested 175k into a crowdsale?

How much did you sell?

L I E S

>>1050686
You seem butthurt at my connections

>>1050691
No. Stop lying on the internet, you NEET cuck.

There were 4 people in the WORLD that bought more than 600k ETH during the crowdsale.

>>1050695
BUTMAD POORFAG DETGECTED
BUTMAD POORFAG DETGECTED
BUTMAD POORFAG DETGECTED
BUTMAD POORFAG DETGECTED

>>1050666
post some proof then

I smell a load of bullshit. If you cashed out, please point to the transaction on the PUBLIC ethereum blockchain.

Get lost with your lies pagan

>>1050696
NEET KEK DETECTED
NEET KEK DETECTED
NEET KEK DETECTED
NEET KEK DETECTED

btw I bet I've got more ethers than you :^)

>>1050701
You think I cashed it out in one transaction?
KEK

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Lies

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>>1050702
Did you exchange your goodboi points?

I wonder if Vitalik has ever shitposted on /biz/

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>>1050704
Proofs?

>>1050707
Yeah, don't you know good boi points roughly equate to the value of ETH?

\stay mad/
\Saty poor/
\Wish you Bought Some/
======ETH??=====

I have about 2k ETH down the drain because i forgot my password.

What do

>>1050752
Get more ETH and use it to crack the password.

>>1050755
I don't understand, how would that work exactly?

You can see that I am not a very bright man.

>>1050752
Just try every password you ever used. You get unlimited tries. There's a python script called pyethrecover.py that will go through variations of your passwords for you. Use google.

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Convince me to buy this coin, whats so special about it? i was really into the whole altcoin scene and decided to quit early 2014 after cashing out my doge and btc, seen more shitcoins that never took off then i can count, and it seems this one already somewhat took off, why buy it now?

why do you think ETH will keep going up and not crash like every other pump and dump i've seen?

>>1052405
>why do you think ETH will keep going up and not crash like every other pump and dump i've seen?
Because people are shilling hard for ETH on this board. Don't you know about the magic power of 4chan shillers?

>>1052409
well aware, so its just another pumpNdump..?

>>1052517
Hardly mate. You think they would go to this much effort (worldwide developer conventions, huge fintech ecosystem program) just for a pump and dump?

VB and GW and ST and all the other devs put their names and faces to this platform. You think they're going to ruin their own careers by pumping and dumping?

>>1052859
It's only a pump and dump by speculators. There is no doubt in my mind that the devs take ETH seriously, however, that means dick as far as the actual price is concerned. Look at Ripple for example. They have way more of a powerhouse in terms of banking connections, Google sponsorship, Ripple Labs employees from various Fortune 500, banks and federal reserves. They are also the closest technology wise with the creation of Codius and smart contracts. Yet the price of Ripple has remained pretty stable and low. I would say ETH has about a year or less until the value drops and levels off like Ripple did.

>>1052875
Difference is, ripple is shitware and is now closed.

Comparing Ethereum and ripple is just... Idk man i can only lead a horse to water, i cannot make it drink.

>>1052885
>Ethereum is shitware and closed.

See? I can do make baseless statements not grounded in fact too. How do you figure its closed?

>>1052891
I heard that it was nearly impossible to get money in to ripple these days after they got fined for money laundering.

>>1052937
Nope. Just have to verify the wallet. Takes about 15 minutes.

>>1052937
Also, they didn't get fined for money laundering, They got fined for not putting preventative measures and failing to report suspicious activity of XRP buyers. In other words, they got fined because some people that bought Ripple might have used it for money laundering (the same could be said about any crypto, including Bitcoin)

How did you make a million dollars?

If the chart here is to be believe, say you bought at the lowest price of $0.42 on Oct 21 of last year, and sold today at $1.52, you would have had to invest $276,000.

That's an enormous return by all means, but that's only a 3.6x times increase. Nothing like the ridiculous returns on Bitcoin in the first few years to the peak.

How much did you invest, and when did you buy, OP?

>>1053092
He is telling porky pies.

>>1050666
https://telegram.me/joinchat/BUoAxQY6iM77CUAuy_B3Xw

join us

This whole Ethereum thing reminds me of Doge coin, which is why this board was created in the first place, to get us all out of /g/.

A couple people mine the hell out of it when it first gets created (usually the creator), then shill it extremely hard until it's value doubles, then the creator dumps everything and watches it crash.

This whole minor "coin" infrastructure is just a anonymous decentralized pump and dump scheme, that has worked way too many times.

All it takes it the knowledge of how to create a coin, some server space, and a couple friends to camp a couple websites.

Makes me wish I had created a coin 3 years ago when I had the idea.

>>1053281

I only used /g/ because of doge. That was an absolute waste of time. People were giving it away by the shitload.

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>>1050666
Only if you take the Shill Pill, 666!

>>1053281
Ethereum is kind of different. It's not an anonymous pump and dump coin.

Its been in development for years. And is in no way just a copy paste coin like doge or PND

>>1050666
It debuted at like 30 cents

So you invested a quarter million to begin with?

>>1053299
Not at the beginning, I had at one point $7000 worth of it. Then I gambled a lot of it away, and the rest of it is still on hard drive somewhere.

How much do you need to purchase to get Proof of Stake?

I didn't invest because stake coins only return for people who put lots of money into them. In short, it shafts everyone but the fat cats who invested early and that's a crap way of doing things.

>>1055254
You can stake in a pool. I think you're prejudging because we have no working example of POS coin because they are all shitcoins.

The algo is theoretically sound and vetted by bitcoin higher ups

WE JUST HIT 1.68 FUCKBOYS!!!

TO THE FUCKING MOON!!!!

How do I buy ether?n

how long expect to hold ETH before the next dump? weeks or months?

Even the makers of Ethereum said it's a useless buy and hold because they will be engaging in huge inflation during the early years.

>>1055789
$1.85.

What a lovely morning. I think i'm going to book a holiday.

WE DID IT REDDIT!!!

WE JUST PASSED LITECOIN

RIPPLE NEXT

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>>1050666
Ethereum, not even once.

>>1056386
god damn. I can smell the fat, unwashed neckbeard 4channer that made that image

>>1056386
Nice

>>1056386
>mfw this is where he lives
fusion dot net/story/47172/the-young-stars-of-bitcoin/

HOW DO I BUY ETHEREUM?

>>1056498
Go to bittrex exchange.

>>1056135
Almost at $2. Fuck me.

>>1056906
Lol ive been telling you anon... Ive been telling you.

Ether blowing up right now brehs.

Homestead coming any day.

Time to buy in.

>>1056920
I bought already dude, what's the roof on this thing?

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2.06 now

>>1052859
>You think they would go to this much effort (worldwide developer conventions, huge fintech ecosystem program) just for a pump and dump?

Absolutely. The profit potential is there.

Pump and dump confirmed.

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buying bitcoins/eth is SO SLOW and to make it worse all the money I can afford to play with is in paypal. is anyone here willing to trade btc or eth via paypal?

>>1056945
Unlimited. It could reach bitcoin parity inside 2 years.

>>1056979
>paypal

Nah m8. Take that shit elsewhere

What can I currently buy with Ethereum?

Does a single merchant on the entire internet accept ethereum other than coinpayments or other speculators?

>>1056984
c'mon, small amounts only. i'll go through a lot to verify my identity for someone who wants to trade

100 USD

Sell now, major players dumping soon. Prepare to be left as a bag holder.

>>1056987
It isn't strictly meant to be currency. It's designed to be more like equity in the public Ethereum network. It is just as much of a token that can be used as a currency as bitcoin, though.

http://youtu.be/TybmlVBUUPU This guy is lols

>>1056989
>paypal

My final answer is no.

>>1056994
Doesn't answer the question tho.

What can I buy with Ethereum currently?

Does it have any value as a currency or nah?

Note: you ignoring the question directly is considered a "no"

>>1057002
>what can i buy with...

What can you buy with hong kong dollars? Can you go and buy a burger right now with Hong kong dollars anon?

Are hong kong dollars worthless?

>>1057021
So nothing? No one accepts this currency in exchange for any goods?

>>1057030
So nothing?

Correct. However, that could change fairly quickly if people realize that Ethereum is the superior network and the successor to bitcoin

is it too late to buy ethereum now?

>>1057045
Until that happens is there any point?

The same was said about so many things, that "soon people will realize the potential and this will become the future of money!". Until anything happens is there a point of even believing in this bullshit or is it all just a ploy?

>>1057051
I have no idea. Probably not because i'm not selling any until it gets into triple figures

>>1057052
Well, that's the thing. Ethereum doesn't need to act as a currency for its token, Ether, to become valuable. Ethereum is basically designed to be a network for smart contracts or "cryptolaw" in comparison to "cryptofinance". It is broader and can be used for keeping track of basically anything.

Personally, I think Bitcoin needs to overcome a massive hurdle which is the fact that it's still tiny in comparison to traditional currencies and thus, has enormous volatility. You could create a token on the Ethereum network that is tied to dollars, a basket of goods or whatever else that would be way more stable than Bitcoin and still have the ability to transfer it over the internet seamlessly.

It is still very early days, but the technology holds way more promise. Satoshi, the founder of Bitcoin, has already crowned the heir in my mind. He's working on an Ethereum app.

>>1057058
>He cannot respond what Ethereum can be used to purchase

Lol

>>1057052
How much convincing do you need? Why not buy $100 worth? Worst case scenario you lose $100 best case scenario $100 turns into $200,000

Ive personally met people who bought 5000 BTC for $2000 and then sold when btc was $260 it was 2 friends, they shared a house in london together, then one bought a flat on manhattan another bought a house in london because they became multimillionaires.

It's kind of funny to name this ether.

Ether.... as in... the mythical substance some thought was valuable but ended up not existing.

>>1057045
>successor to Bitcoin
Bitcoin wasn't even able to reach mainstream adoption. If that's your bar you're shooting pretty low. I doubt Ethereum will even reach a fraction of Bitcoins userbase though. It's just hard to re-hype something after it has climaxed. If it was easy, then beanie babies would be making a comeback right now.

>>1057064
Wait, not 5000 bitcoins i think he said he spent £5000 on bitcoins and then bought his friend some for his birthday as a joke. Anyway i think they made over ten million pounds and retired from futures trading.

>>1057064

In ancient Tibet, salt was used as currency. So how about this... I'll give you a pound of salt, you give me a pound of gold.

One of the (many) problems with ponzi schemes like this is that they rely on a growing list of suckers whose desire to get rich quick overwhelms what common sense they may have.

>>1057064
I'd rather go to the horse races and bet on a long shot. At least I'd get some entertainment out of it.

>>1057070
Successor technologies tend to be better and surpass their predecessors. Ethereum is the full realization of Nick Szabo's smart contract platform. Bitcoin was just the first experiment.

>>1057070

And what little consumer base there is are the same people who got burned by bitcoin. So they will be twice shy to make the same mistake.

>>1057073
Cool story, bro.

>>1057069
The intention was that Ether is the substance that is invisible, but omnipresent, and runs the universe ;)

>>1057069
>Ether.... as in... the mythical substance some thought was valuable but ended up not existing.

Reminds me of PND literally standing for "Pump n Dump"

>>1057082

I'm sure the people who pissed away thousands of dollars on bitcoin would have preferred to know in advance that it was just an experiment.

This ethereum is, at best, a fools errand, and at worse an outright fraud.

>>1057092
Okay, champ.

>>1057089

Yes, and so many believed, until they woke up one day and found out it was a myth.

The same will happen to people who put real money into this myth.

>>1057099
>The same will happen to people who put real money into this myth.

I can't wait to laugh.

>>1057099
We will see. We could bet on it with an Ethereum contract if you'd like ;)

Transfer x amount of money to me on date y if the price of Ether is above z, otherwise it goes to you.

>>1057079
How about you stop arguing with me and just buy ethereum you stupid idiot.

Do you HATE MONEY?

>>1057104
>Gambling and shitcoins
Why am I not surprised? You must have some genetic disorder that predisposes you to make bad risky choices in life.

>>1057104
>Transfer x amount of money to me on date y if the price of Ether is above z, otherwise it goes to you.

I will take this bet.

You get all of my money if Ether is above $5 let alone exists 3 years from now. If it is not then I get all of your money and your youngest female relative.

>>1057081
can horses run distributed applications?

>>1057082
This.

>>1057109

I like money, but I thought we were talking about ethereum.

Your position is that this stuff has "value" like a currency because...

1. People say it does.
2. Some people are willing to spend real money on it.
3. No one will be able to crack the encryption.

I say it has no value at all. I say it will fail like bitcoin failed, and that the only people interested in it at all are the same neuvo-hippies who think that they want to take on "the man" and actually have a chance to change the world into their drug-induced anarchist utopia.

This isn't my first rodeo. I suspect it is yours.

>>1057110
Hilarious. Are all financial futures considered "gambling" to you?

>>1057112
Hehe.

https://groupgnosis.com/dapp/#/markets/0x28945de390f3a7b907072e6f830e081c/0x1d81596a090df6265aea8542df4b5b7b568f9b705

Looks like a bunch of people already lost that bet ;(

I'm sure there will be another one that you can capitalize on.

>>1057115
>bitcoin failed

Umm no its worth nearly $400 you fucking stupid cunt.

>>1057119
>all financial futures
No just shitcoin futures. You are probably the same group that said Bitcoin would be from $5k - $100k apiece by now. There sure as hell were a lot of you a couple years ago. I doubt you all fully receded into the shadows. You just collected what was left of your pride and found another shitcoin to shill.

>>1057129
Yes, it's all just shit. Just ignore all of it. I'm a grown man. I can make my own mistakes.

We're on 2.13 now.

Up 40cents on yesterday.

>>1057129
Literally no institution has started investing in bitcoin/ethereum.

When they do, and they will, it could easily be 5K 20k a piece.

>>1057123
Price doesn't mean anything if it failed in its goal of mainstream adoption. It's also still down over 60% of its ATH. You call that successful?

>>1057115

Gold has value because:

1. People say it does.
2. Some people are willing to spend real money on it.
3. No one will be able to [create it in the lab].

>>1057123
>Umm no its worth nearly $400 you fucking stupid cunt.

And was said to be the "FUTURE OF MONEY - the original" 2-3 years ago.

I remember delusional cucks said "Bitcoin will 100% be $10k a piece by 2014", or was it 2015? Surely by 2016... Because >muh limited supply

>>1057133

But why would they want to?

>>1057131
>Yes, it's all just shit. Just ignore all of it. I'm a grown man. I can make my own mistakes.

And yet you rely on constantly shilling it here lol

>>1057136
Has it failed anon? Has it failed? We're here right now talking about it aren't we? Wouldn't you say it's making progress?

>>1057133
>Literally no institution has started investing in bitcoin/ethereum
And this is good? Bitcoin has been around for almost 7 years which is ancient in terms of technology.

>>1057142
To make money

>>1057141
>I remember delusional cucks said "Bitcoin will 100% be $10k a piece by 2014"


And then there were people like you saying "Bitcoin will be worthless in 2014" and low and behold it's currently worth $300++ a piece.

>>1057140

I agree. Gold is simply a modern version of the Rai stone.

But it is, for better or worse, a universal standard of currency because, again... people agree that it is.

But... it has been for thousands of years. Coming along these day and trying to create your own standard of wealth just doesn't work for complex reasons that most pro-crypto's wouldn't understand.

>>1057144
Not really. It hasn't made any progress in more than 2 years. Still the same users. Still the same transaction volume.

>>1057145
Its been reported on in the media since 2013 thats 2.5 years

>>1057154
So because it wasn't noticed by media for 4 years that proves how useful it is? The date that it started being picked up by news publications doesn't negate that it was created 7 years ago. PayPal blew up within a year that it went online.

>>1057158
Fine dont buy eth i dont care about your financial situation.

>>1050666
>Buying a Russian cryptocurrency
Enjoy holding the bags in a couple of days once the devs run away.

>>1057162
It was already established that you didn't care about my financial situation when you tried to shill me this shitcoin.

>>1057143
Feel free to stop posting any time ;)

>>1057163
The "it's a russian cryptocurrency" guy.

Got anymore home made jpegs?

>>1057167
Not yet but Im working on it. This shitcoin is pure idiocy. Bitcoin is the only thing worth a damn.

>>1057165
Its not a shitcoin but whatever. When you come back on this board in a years time when ETH is $100+ you'll be telling me it's going nowhere. :)

>>1057170
Bitcoin is cool. But you should buy ethereum.

>>1057171
You sound just like all the Bitcoiners who told me I would be sorry for not buying in 2 years ago. I got the last laugh.

>>1057178
>last laugh

Why? What did you do?

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Aside from the humor of the people rabidly in favor of this joke, there is also the fact that there is an amazing number of competing "currency"

So on this site we have the people shilling Ethereum. I can only imagine that on other sides are people shilling LiteCoin, Dodecoin, Peercoin, or any of the other dozen choices.

And yet... they all measure their values in dollars. Which should tell you something.

The ability of people toward self delusion is amazing some time.

Seeing the real money people are wasting on this crap, I might have to figure out a way to profit when the inevitable collapse comes.

>>1057194
Yes gold is valued in dollars so gold is worthless right? Retard

>>1057196
Gold is not a currency.

These are all suppose to be "futures of money(tm)" and currencies and yet people only value them in dollars.

>>1057197
Im going to bed now. And i know when i wake up ETH will have increased in value. Have fun!

This reminds me so much of the hippies I grew up around in the 1960's and 1970's.

Change the world with the power of love, live off the land, one with nature, stop the corporate "man" from ruling the world.

>>1057203
Did you buy eth? Its not hard man.

>>1057206
But you were going to sleep

Or is that a clever excuse only when you're stumped?

>>1057206

Why would I buy Ethereum instead of Litecoin, Factom, Stellar, Bitshares, Nxt, MaidSafeCoin?

How is ethereum better equipped to topple the traditional forms of currency?

>>1057207
Im not that tired actually despite it being nearly 4am here in london. Did you buy eth yet?

>>1057206
Dear idiot on 4chan:

Would you kindly please stfu about ethereum? You're giving it, and giving us a bad name with your blathering. Thanks, asshole.

Signed: the eth-devs.

>>1057210
Maaaan, it just is. It's crypto's secret weapon. Its late as fuck here so im not going to go into great detail but it literally could make the entire structure of the centralised internet obsolete.

>>1057215
Lel. I dont give a fuck

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>>1057213

Tell you what... I'll sell you this beanie baby for 12,500 ETH.

It has a "value" of $25,000, and at 12,500 ETH, that gives you an instant profit of 333.7 ETH

>>1057215
You do your job (developing eth) and I'll do my job (shilling eth)

>>1057221
I'll buy it for 1,000,000 PND

>>1057221
Can beenie babies perform trustless computation on a distributed virtual machine? No? I decline your offer

>>1057224

Not sure I can do that. PND doesn't have the same long history of excellence as ETH

>>1057226

No, but it is soft, and fluffy, and a million people waited in line to get their hands on it.

Unlike ETH on all counts, as a matter of fact.

Can someone tell me how the fuck do I buy some bitcoins???? (to then buy ethereum).

>>1057229
Honestly I'd accept Beanie Babies as a global currency.

Looking at the picture it looks very nice, huggable even.

I could just imagine being a "beanie baby millionaire" and diving into a huge pile of them. I'd imagine it's much much more enjoyable than seeing "1,47537535,53535345,353 ethereum" on a computer screen.

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>>1057226

Well if it's computer processing you want, I have a deal for you...

This gem has a full 2MB of ram, a 20MHz processor, and built in network operating software.

Since I'm such a nice guy, I'll knock it down to $7500 for you.

You know you can trust this, because investing in computer processing futures is such a smart idea. Computers aren't going to get any faster or cheaper, so you can't lose.

>>1057226
>trustless computation
Wtf does this even mean? Why would trust be involved in solving math problems?

>>1057233

Maybe this guy can give you a deal....

http://qz.com/114753/meet-the-family-who-lost-100000-when-the-beanie-baby-bubble-burst/

>>1057237
Maybe you should educate yourself on the entire raison d'etre of crypto.

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Eth depth chart

Left side is buyers, right side is sellers.

>>1057242
Just answer my question. It wasn't a hard one. You were the one who are throwing around buzzwords. Explain yourself.

>>1057247
https://www.deepdotweb.com/2014/08/18/ethereum-making-entire-world-trustless/

>>1057249
I don't want a link to someone's long drawn out article filled with technical jargon. Eli5 in simple terms. Come on guys this shouldn't be hard.

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This is a site which attempts to explain the "value" of Ethereum.

https://blog.ethereum.org/2015/05/24/the-business-imperative-behind-the-ethereum-vision/

After a little over 37 years in the computer business, I can tell you with confidence that this is unmitigated bullshit.

It attempts to bury a lack of fact in a bunch of meaningless large words; its computer theories are inaccurate, and if you're investing real money in it, you're a fool.

Additionally, the attached image comes directly from the mother ship. As it points out, what you're buying is the equivalent computing capacity of a 1990's cell phone. Well worth the money, I'm sure.

Is it still a good time to buy or will the price drop?

>>1057246
These things change literally in a minute.

>>1057254
>I don't want a link to someone's long drawn out article filled with technical jargon. Eli5 in simple terms

We've been over this already.

They can't. THey can only link to articles/papers/whatever done by people smarter than them. No one can explain it in practical terms that are understandable. They need to hide behind buzzwords and some fancy jargon to appear smart and make people believe it has a future.

Kind of like those scammer oil change places/mechanics who make up that your "carbulator-filter is busted and is dripping purple fluid when it should be grey and your toohicky-majig busted its valve, I can fix it but it will take some time and the replacement parts are $15000" to trick soccermoms into believing it.

It works exceptionally well with cryptocurrencies because you can create a false sense of urgency since everyone remembers bitcoin and missing out on that right? You don't want to be left behind do you? Buy our shitcoin!

>>1057259
This is what I figured. Thanks for giving the articulate response that the ethereum "spokespersons" were unable to provide.

>>1057140

Gold has value because:

1. It has a historical record of being used as currency
2. High net-worth individuals use it to hedge against inflation

Are you literally retarded? This isn't /biz/,, It's /coin/

>>1057265
>>1057266

Let me try to explain what they are trying to claim...

1. "Ethereum" is computer processing time on a muti-processor network. Several computers working on a single "busines logic" = comutation.

2. "Ether", the currency, is the equivalent of buying computer time on this network.

3. The "sell" is that it's a secure transaction, and encrypted in a way that the computer doing the work can't steal the information being worked on.

4. The supposed "value" comes from the fact that they claim it's cheaper than large companies that sell cloud computing.

The reason it's a house of cards is this...

5. The actual processing power you are buying is very low.

6. The idea of distributed processing makes very little economic sense in the real world.

7. Since computers always get faster and cheaper, the actual (processing) power of the computer time you buy will decline over time.

8. Trying to convert computer processing into cash is like trying to trade oranges for pencils. Each has their own value, but not necessarily together.

8. Essentially, it is a modern version of the way computers used to work, where multiple people attempt to share computer time.

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>don't buy ETH goys we want to keep the internet centralised forever right?? now type "facebook" into google like a good goy. why don't you add your phone number and place of work? that profile's looking a bit thin...

>>1057265
>another well thought out, intelligent answer
Why are the people that are supposed to be educated on cryptos faltering at explaining their positions but "nocoiners" are providing easy to understand conclusions backed by clear reasoning? This can't be right, can it?

Eth is about to overtake Ripple.

And Homestead only has one issue to finalise before ready to go: https://github.com/ethereum/go-ethereum/milestones/Homestead

It's happening.

>>1057279

The internet is, by definition, decentralized.

What you are calling centralization is simply the best companies gaining a larger share of the market.

And your attempt to paint this pipe dream of a ponzi scheme as a means of fighting "the jews" is an insult both to us and the jews.

>>1057278
>microsoft is wrong

https://www.youtube.com/watch?v=Jl_R9ZndeNs

>>1057279
This is a smart move by Eth shills desu.

You need to get the stormfag and /pol/ audience on board. They are very gullible and literally believe in the occult and conspiracy theories.

Make Eth into some "fight against jews and degeneracy" bullshit and I could see your sales spike up in days.

>>1057281

And it works especially well because when people don't understand the technical terms being thrown around, they assume it has "value", and are therefore more willing to pay for it.

Like in this case, these "ether" trades are, at its root, simply buying computer time.

The actual underlying computer time has little to no value. But since people don't know that, they think they're spending money on something real. This creates a false demand and a bubble.

In the end, when people attempt to "spend" their ethers (on computer time), they will discover that they bought another beanie baby

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>>1057287
how do you know I'm not jewish? IM JEWISH and I'll post as many jew memes as I fucking want! and buy as much ETH as I want!

>>1057291
>they will discover that they bought another beanie baby

At least beanie babies are soft.

>>1057286
It wouldn't be the first time Microsoft was wrong.

>http://www.infoworld.com/article/2612971/microsoft-windows/microsoft-s-13-worst-missteps-of-all-time.html

>>1057291
I'm sure you've managed to find the fatal flaw in something which has been worked on for many years by incredibly smart programmers and cryptographers with 10 minutes of cursory investigation..

why don't you go on github and tell them they all fucked up?

>>1057286

This isn't a microsoft video.

This is a youtube page set up as a spoof/fraud of microsoft.

I've just reported the page to both YouTube and the microsoft intellectual theft department.

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>>1057298
I can taste how salty you are from the other side of the atlantic

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>>1050666

I'm looking forward to the episode of American Greed that features this.

>>1057298
>>1057296
>>1057287
>>1057265
>>1057259


Ether up 40% today and all these salty fuckers pissed.

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>>1057308
and it will be up 40% tomorrow and they'll only get saltier and saltier until they literally become salt.

>>1057297
Do you always base your opinions on how smart someone appears to be? There was a lot of smart people in Enron, Bear Stearns, Arthur Anderson, Lehman Brothers, Washington Mutual, etc. Most of these executives had PhDs and MBAs in business and finance. Bernie Madoff was brilliant. Would you have invested money with him because he was clearly very intelligent? I don't think "they sound smart and I don't understand enough to disprove them" is such a good investment strategy. I could be off base here.

>>1057308

It's only up because of the next-sucker theory.

I'm not pissed. I'm just unwilling to be a dupe in this scam; and I'm being a nice person by pointing out that this is just another in a long line of scams.

And the price is up? Ya, tell it to the people who blew their life savings on tulip bulbs.

https://en.wikipedia.org/wiki/Tulip_mania

>>1057297

Again, it's not about whether the theory works. It's about the value of the actual product.

>>1057319

I guess the question is, is it early enough to get in, make something, and get out before it goes Full Ponzi?

>>1057319
Is Bitcoin a scam?

>>1057325

Now THAT is a legitimate question. One that I've asked myself tonight.

The last people in will lose everything. The trick is not to be the last person in.

But I will probably not. I have SOME ethics.

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>>1057319
>tulip bulbs

yes, literally everyone in crypto is familliar with the tulip story, but they are still buying ETH like crazy, they can't get enough of the stuff. doesn't that tell you something?

>>1057327

"Scam" was probably an improper word to use, and I suppose I'll take it back.

The word "Scam" implies that there is an organized and intentional attempt to defraud.

In this case, while it's clear that there is willful ignorance on the part of those participating, I don't know that it necessarily rises to the level of a scam. Though, given the origins, I can't rule it out.

>>1057329
come to teach us all a lesson grandad?

>>1057333

Yes, it tells me that computer scientists have as little financial common sense as the general public.

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Ethereum is about to overtake ripple!

It's ratpoison for shitcoins. we already won, all shitcoins pack your bags and leave, there's a new sheriff in town

>>1057337

Not at all, just passing some time in /biz talking /biz.

And you don't have to call me grand-dad. You can call me sir.

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>>1057339
And you are clever and we should listen to you because you're 3 decades older than us? get lost faggot you got btfo already do you want seconds?

>>1057335

From my perspective - even if Ether is the dud that you think it is - with the imminent release of Homestead and the current momentum it has - I think it's gonna keep rising in value for a decent amount of time before it falls.

And I intend to stay along for the ride. I only have $200 in it - not my life savings - and we'll see where it goes.

>>1057346
And if I lose all my money then I learn a valuable - but not life ruining - lesson about buying into hype.

>>1057345

Lol. Last time I checked, I wasn't the one getting BTFO. I'm not the one trying to hide behind vagaries and pipe dreams.

Everyone on this board is willing to discuss the specifics of Ethereum, but I seem to be the only one actually presenting real fact about it.

Your turn.

>>1057346

It's going to depend on how broadly it expands.

For example, there is only a fixed number of people who are interested in crypto currencies. (like the chart I posted earlier).

This fixed number of people will go with one or the other. And, as far as the performance of one compared with the other, there will be relative "value".

But it is a dangerous game because we've already had some well know collapses before.

I don't think there's a chance that it's going to get main-stream mania, but... if you want a general idea of how it might play out, research the time the hunt brothers tried to corner the silver market.

>>1057347
>And if I lose all my money then I learn a valuable - but not life ruining - lesson about buying into hype.

You know you can learn from other people's mistakes instead of your own right?

Literally look in the archives for all the PND, doge, DRKCOIN threads, etc. Look at all the signs leading up to it, look at the shill posts, look at the language they used, the emotion they tried to create, all before it came crashing down with not a single word from any of them ever again.

It is deja-vu, feels exactly as Ethereum currently.

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>>1057350
If you want to discuss technical shit go to github, stackexchange or fucking reddit. I'm just here to hype it. I don't try and explain ethereum to my mum and I'm not going to explain it to you.

>>1057347

And if that's the amount and way you're going into it, I say good luck. Throw $200 in and watch what happens.

If it shoots up in price and you cash out with a large profit, you can come and here and call me an asshole and I say more power to you.

My concern is for people who put real money into this expecting it to go up forever.

>>1057355
>>1057350
This guy is trying to stop people from buying in while his exchange account verifies.

>>1057357

You're just here to hype it.

So, it doesn't matter if it works or not. It doesn't matter if other people lose money.

As long as you get yours.

Pretty much sums up the problem with the younger generations.

>>1057363

lol... don't worry. I have no plans to get anywhere near this POS.

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>>1057356
was PND or any of the shitcoins you mentioned on the BBC in several articles? NASDAQ? was DRKcoin adopted by R3 consortium?

this shit's gonna make BTC look like fucking childsplay and anyone with a brain can see it. we have moles in all organisations, financial, government, media. Ethereum is not going to fail. it's too big to fail,

>>1057356
In Doge the people who got in at the start and got out at the top made 16x their investment.

Pandacoin was always a meme.

DRKC is currently worth more than it ever has been.

+ None of them had the names, developers, and technology underpinning them that ether has.

We will see.

>>1057366
>it's too big to fail

Are u a meme

we're 3 million dollars away from overtaking ripple, once that happens ethereum will be second place after bitcoin....

I'm almost frightened by the amount of money i'm going to make.

http://www.ibtimes.co.uk/r3-connects-11-banks-distributed-ledger-using-ethereum-microsoft-azure-1539044

>>1057366

> we have moles in organizations.

Legitimate ideas don't need to sneak their way into positions of power. The ideas are powerful enough to do that themselves.

>>1057369
I'm fucking quivering mate

What will we do with the money?

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>>1057369

>>1057366
>Ethereum is not going to fail. it's too big to fail,

>Literally no one uses it

lol ok

>>1057372
you think ideas walk around by themselves? people carry ideas.

>>1057373
i'm going on holiday. then I'm gonna invest in new vehicles for my business, then I'll save the rest of my ETH for staking when POS happens.

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>>1057374
game over ripple

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>>1057369
>>1057373
What car are you guys gonna buy?

>pic related for me

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>>1057385
nah, I'm more into vans, probably gonna get a couple of 16 plate sprinters.

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>>1057388
I'm not gonna buy a car, I'm gonna buy a plane, Sunshine.

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>>1057403
How about this one?

Honestly, I'm quite skeptical about the entire e-currency market.

From my limited knowledge, it's essentially providing individuals with a means to earn real-life currency without actually producing products or providing services.

>buy a huge outfit of computers
>hook them up to a cryptocurrency network have them "mine"
>become rich in said currency
>without ever actually doing anything of value

What makes this different from old-fashioned forgery?

>>1057441

the concept of 'creating value' doesn't apply anymore in this day and age.

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>>1057441
try it for yourself and see. Like obviously you'd have to work out how to breath and walk first but you'll make it one day, maybe.

>>1050666

how do i buy ether guys?

>>1057441

> Buy a pickaxe and an employee
> Put them on a gold reserve and have them "mine"
> Become rich in gold
> Without ever actually doing anything of value

(Not to mention that cryptocurrency mining is very hard to make profitable)

>>1057457
someone tell this guy how to buy ethereum. I'm sick of repeating myself.

>>1057466
I'm beginning to see how such a system could work, but it's still surprising that it can produce millionaires when cryptocurrency holds such little value in the real world.

>>1057457
localbitcoins.com to buy BTC

then shapeshift.io to exchange it for ETH

>>1057457
In detail; buy bitcoins through whatever method your comfortable with, if you're new to bitcoins they should provide you with a wallet (big string of letters and numbers), create an account with an exchange that sells ETH (I use Poloniex, there are a ton of others, some mentioned ITT), sign into blockchain and send your BTC to the exchange's deposit address (should be in your account page), buy ETH.

I believe Poloniex also supports just buying with USD but not sure how it works.

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>>1057478
>little value

bitcoin is worth $370 each. what's your definition of value? sentimental value?

>>1057491
I'll admit, I just don't understand it. Is it basically a sort of gold standard driven by data mining instead of physical mining?

>>1057508
read the Ethereum white paper.

The official definition of what ethereum is:

https://github.com/ethereum/wiki/wiki/White-Paper

pretty heavy going but you can find briefer explanations on youtube.

https://www.youtube.com/watch?v=Clw-qf1sUZg

>>1057472
>>1057479
>>1057486

thanks boys. i'm contemplating borrowing 2k € to buy ether. i would be paying back a total of 2120€ over the course of 3 years.

do you guys think this would be a good idea? i don't want to miss the initial ethereum profitability margins, just for having no funds. i did that with bitcoin and never quite was able to forgive myself, seeing how the initial buyers multiplied their investments by absurd factors.

>>1057536
>do you guys think this would be a good idea?
no

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I'm getting mixed feelings about this.

Currently holding around 10 BTC worth of Ether with 2.5x leverage.

Sometimes the value fluctuates so much that I get a margin call. It's almost a zero sum game so far despite huge gains.

Do you think it'll go much higher within the next days?

>>1057536
probably not a good idea to borrow money. But definitely a good idea to buy ethereum.

>>1057553
buy and hodl

This board is /biz/. You have all been told about ether, and scoffed at it. It has now passed the 2 dollar mark. You couldve doubled your money easily in a month on the back of the hype. Cash out half and let the profit ride it out, for a free chance at MOON (tm).
If 13 big banks doing tests with ether still didnt ring the hype bells, why are you even on biz?

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>>1057559
Currently holding this at Kraken.

Sold part of it at -9% when I panicked. Stupid I know.

Should I go all in? I still have 4 BTC in a cold wallet.

>>1050666
Congratulations, you cashed out at the top of the scheme.

And I know it's a scheme because I can't purchase it with real money, I have to use BTC.

The people holding BTC are the ones profiting.

>>1057536
Just to reiterate:

Buying ether is a gamble.
Do not borrow money to gamble.

(While I have faith in Ether and where it is headed - I would suggest you don't borrow money to invest in it.)

>>1057559
This


people are going to kill themselves when they realise they fought tooth and nail against buying something that went up 200X. And at this point I hope they do.

https://www.youtube.com/watch?v=nDY0s_e3n34

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> mfw this thread

I hope one day shill rules will aply to shitcoiners too, every day their numbers get smaller as more and more realise thier "MOON" was another pump n dump.

Don't fucking daytrade shitcoin, if you believe in it, fine. Buy a couple and save em. There isn't gonna be a boom like bitcoin.

>>1057536
No, never do shit like that.

>>1057577
Why don't you buy some ETH you fucking retard?

I'm in with 585 eth, hope this works out

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>>1057610
welcome aboard

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Join the pump and dump or buy and hold and ignore all those fluctuations?

> buy ether at $2.20
> it instantly flashes down to $2
> i panic and sell

th-thanks /biz/

IS IT TOO LATE TO MINE SOME STUFF?

I GOT A TITAN X

>>1057631
Hodl. The actual software isnt even finished yet. We're still 3 releases and probably a year or so away from completion. Plenty of time to canibalise all altcoins market caps and probably make a dent in BTC too, although it's not a direct competitor as ETH is'nt really intended to be used in retail (although there's no reason why it couldn't be)

>>1057635
Tard. What's buy and hold? Next time, buy it and turn the fucking computer off and dont look at it for another 3 months.

>>1057635
Lol you're an idiot

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>>1057638
>>1057641
How much should I hold? What magnitude?
Should I use leverage?

I don't want to miss out again.
I watched bitcoin explode while sitting idly by until it was too late.

>>1057648
Buy as much as you are willing to risk. And then forget about it.

>>1057648
Wait till the bottom and buy low, a bit above where the price sat before the pump

>>1057648
Only you can know how much you can afford, None of us can know your financial situation over the internet.

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>>1057652
I own 5 BTC.
I can afford to lose everything because this is my crypto "gambling" money.

I made around 400€ by buying ETH with leverage during the pump but lost it again because I got greedy.

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>>1057653
convert all your BTC into ETH then hold. then do as much reading about ethereum as possible. by the time you finish learning about distributed applications you will have no desire to sell until moon. good luck

>>1057479
Thanks, ended up doing this

>>1050666
i'm thinking of buying around $500 worth of eth. i haven't been following this stuff at all though, can someone tell me what I should be looking to pay for it? do i buy now at $2.00 or wait for it to go down again?

what's the easiest way to buy ethereum in australia?

>>1057679
Another ausfag here.
I ended up buying btc through https://localbitcoins.com/ and meeting up with cash. Then deposited it into Kraken and bought with btc

Should i be alright just leaving my ETH on an exchange? Kraken seems pretty trustworthy

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>>1057740
Is Kraken down for anyone else?

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>>1057457
use poloniex, god speed

>>1050666
I did invest and /g/ told me to come here.

$24K pure profit today, I'm sitting fresh

People who didn't dump yet are fucking stupid. Such a rise is not healthy.

>>1050762
get more eth= more fukken worthless fiat money

buy someone IT monkey ro crack shit for muney,

wat u no gekko?

>>1057676
Good luck.

>>1057776
High 5

>>1057799
>BTC at $3 ?!? I dont know y ppl haven't dumped yet such a rise is not healthy

>BTC is $290 inside 8 months

>>1057824
I'm not saying that ETH will not get higher but if you are willing to day trade now is the time step out and buy in later.

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>>1057826
Say it goes to $6, there's no way to know. It may never get this cheap ever again. Especially if it hits a chinese exchange


>mfw chinese people haven't even got a look in yet.

crazy volume, Im pretty comfortable with the rising volume and price, but it isn't sustainable, there should be some setback soon - on the other side it is crypto

ITT: Shills.

OPs does poloniex have a deposit limit or can put any amount ?

I just bought almost 750 Ethereum guys!!!

When is this stuff expected to go up? At what price are we all selling go get out safely?

>>1057874
You might as well sell now with that attitude. You don't seem to understand the potential of the ethereum project. Leave your coins alone and go research. There's a reason why people say $20/ETH is undervalued still.

What is the LTC to the ETH what LTC was for BTC?

Pretty sure someone is gonna copy ETH.

>>1057913
Theres a clone of ETH called EXP.

Will never be as useful because it uses same hashing algo as ETH and has way lower marketcap and hash power, ETH could destroy EXP if it wanted to.

>>1057903
I just want to know when we will all sell so I don't miss out.

>>1057920
Im only ever going to say hold your coins.

I dont intend to sell a single Wei until the price is >$100

why does it fluctuate between $2.20 and $1.60 on kraken? is this normal?

>>1057928
Your loss. I'll sell at like ~$5.

Better to double your money than risk the pump n dump ending too soon and missing your chance to sell.

Afrerall Ethereum IS a scam but we just need to sell it in time as /biz/nessmen. Just like we did with PND, all of /biz/ dumped it at the peak of before it came crashing down.

>>1057933
You're looking at the extremely illiquid US$ - ETH market i expect. You should be looking at the btc - eth cross
>>1057936
Speak for yourself I've not sold a single ETH the entire time. Waiting another year or 2 is no problem for me.

This story sound familiar to you? :
>yeah i had 2000BTC, sold them all when it got to $10 i had no idea it was going up to $1000 should have held onto my coins i'd be a millionaire now

Yeah thats you in 2 years time.

>>1057942
A more common story is -
>I bought some shit altcoin, it went up 400% I didn't sell it when I had the chance and kept holding it eventually it crashed with no survivors so I went from guaranteed few thousand profit to nothing.

Anyway when should I sell? It's hard to predict when this malnourished autist plans on dumping.

can someone explain why the price rose so dramatically the past few days?

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>to listen to altcoin shill with 1001st colored coins engine
Lol

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>>1057947
Yes, thousands of developers and startups building on Ethereum are going to disappear like *poof* because the price of ETH dropped a little bit. I want what you're smoking.

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What is the difference from Ripple, Stellar, NXT, Counterparty, etc?

>>1057947
https://m.reddit.com/r/ethereum/comments/42f9lk/dont_make_my_mistake/

>>1057958
It will. You'll see.

>>1057964
Alright nostrodamus. We'll see.

A quick question. I started mining on the testnet and tried to exchange the ether. Aren't these "real" ethers or why can't I seem to be able to withdraw them?

>>1058023
Because they're not real ethers because you're mining on a testnet.

>>1057265
very well said

>>1058031
Ok thanks :D are the ones on the "main network" real?

>>1058035
No they are fake too. You can send those ones to the foundation address they'll be disposed of safely.

Different question: how do I sell these?

>>1058051
Just sold mine too. Getting the hell it before the dump tomorrow lol. Made 200% ROI so can't be mad. Would suggest others do the same. You don't want to get stuck bagholding like what happened with Bitcoin.

>>1058050
Then what's the fucking point in having 2 networks ?

>>1058056
no I haven't even bought them but I was wondering were you sell them

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>>1050666
join the club

666 for the devils,either a good sign or a terrible sign

>>1058056
b-b-but $100 soon!

>>1058056
>i sold too early and you should too.

By next week you'll be crying yourself to sleep.

>>1058067
What if you are the one crying yourself to sleep because it is now worth 20 cents?

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>>1058064
He who walks backwards "susej susej susej susej susej susej susej"

>>1058069
You're assuming i sleep.

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ok im sold. I have nothing to lose. I'll treat this like a new MMO.

How do i mine for ether coins and begin to make money overtime? someone help me or point to me in the right direction. I dont want to invest other than computer equipment. Can i just mine ether and trade it in when its time to sell?

where do i start and i hope im not too late.

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>>1058090
I want to know this as well, I just bought about 1 bitcoin to partly turn into ETH but I dont know how mining works.

>>1058131
go here: https://shapeshift .io/# and choose Btc on the left and ether on the right.
In the return adress left you insert your btc adress and on the ight you insert: 0xaa7b131dc60b80d3cf5e59b5a21a666aa039c951 (will return ether to your adress).
Then click start and withdraw to the deposit adress via blockchain or whatever wallet you use. You're welcome

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>>1058139
Thanks dude, very cool of you

>>1058145
After that download ethereum wallet for storing your ether. You can mine with geth

>>1058139
Subtle.

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so i download an ether wallet, and gether and start mining. Eventually i get ether.

so how do i trade ether for money?

>>1058150
by exchanging it to btc. on shapeshift and then converting btc to $

>>1058151
yeah. im sure theres another way to do it than the creepy site.

>>1058163
dude. Use fucking google. The side was just an example. With a decent graka you can maybe get 1eth per day and if you're even too stupid to goole what I told you you should maybe start another hobby as you will sure lose your money

>>1058167

>graka

What fresh hell is this?

>>1058203
Graphic card

Bump limit reached

Abandon thread.

do i still need a phd to install a wallet? can i just doubleclick.exe then grab wallet.dat yet?

>>1050673
I think Poloniex is just as good.

>>1050666
can i have $1500 cash to start a business?