$ (ETH) Ethereum - ETH and the Ethereum Project General Discussion

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John Furrman

John Furrman

I can’t contain the violence in this home
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What is Ethereum?
According to https://ethereum.org/:
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference.

These apps run on a custom built blockchain, an enormously powerful shared global infrastructure that can move value around and represent the ownership of property.

This enables developers to create markets, store registries of debts or promises, move funds in accordance with instructions given long in the past (like a will or a futures contract) and many other things that have not been invented yet, all without a middle man or counterparty risk.

The project was bootstrapped via an ether presale in August 2014 by fans all around the world. It is developed by the Ethereum Foundation, a Swiss nonprofit, with contributions from great minds across the globe.
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What is the difference between ether (ETH) and the Ethereum network?
ETH or ether, is a digital currency token that operates on the Ethereum network. The network itself is a world-wide computer. Anyone who runs an Ethereum node can join the network. The price of ether itself has grown over 2000% in the last year, despite the recent bearish trend.

Can I mine ether?
Yes. I recommend the Go Eth (geth) miner:
https://github.com/ethereum/go-ethereum/wiki/geth

Also recommended is joining a pool, like http://ethpool.org. Unless you can mine at a gigahash or greater with your own hardware, joining a pool is recommended. Another word of warning: unless you have a dedicated mining rig, you will probably only make enough from transaction fees to cover the cost of electricity.

Should I buy ether?
Maybe. If you're even asking yourself this question, the answer is likely yes. First, however, do your research, have an idea of what exactly you are buying into. Don't expect to be able to game the market for some extra cash unless you're willing to make an initial purchase of over $2000 of ether.

I personally recommend a coinbase account. It's a virtually painless way to acquire crypto, and offers bitcoin along with ether and litecoin markets.
https://www.coinbase.com

Other recommended websites:
Tradeblock offers a lot of technical analysis tools.
 
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I really don't see ETH going at over $300 unless people actually start using the contracts as a staple of business. Right now it's just some gimmick shit which was good for launching it but not for keeping it going.
 
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It is immensely frustrating to me that BTC keeps mooning while ETH is stuck at $300. Yes yes use-cases blah blah but this is CRYPTO, it's not rational. There's no reason ETH shouldn't suddenly triple again like it did six months ago... in fact let me go check my Blockfolio again just in case...

I got into crypto last year and backed the ETH horse. Ended up riding an insane price rollercoaster that took me from being a wriggling naive cryptolarvum to a beautiful PTSD-afflicted veteran.

Any discussion of or primer on ETH (and the Etherium Network) should mention that it's the brainchild of Vitalik Buterin, a sly and tricksy spectrum-situated soviet skeleton who has transcended money. He is like a weird-looking, youthful combo of Richard Stallman and Bill Gates... and if you own ETH, you are his plaything; he is your indifferent autistic god.

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ETH is on track to break 600 by the end of the year! Time to celebrate my fellow holders.
 
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So where do you think ETH is going to go by the end of next year?
 
raymond said:
So where do you think ETH is going to go by the end of next year?
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Nobody knows. All I know is 600 by the end of this month is entirely plausible. My conservative estimate for the price of ETH for this time next year is 4 - 6% of whatever a bitcoin is worth, assuming that trend holds.
 
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ETH is going to be huge. I was a day trader in the mid nineties when the internet first hit the mainstream and wall street starred noticing it. The crypto market feels exactly the same right now as the internet did back then.

Get on now before the normies and wall street wake up. A few hedge funds are just starting to dip their toes into btc and eth right now. It ll be a torrent in a few months.

Just my opinion, but the winners will be the block chains that provide the backbones for others to build upon eg .ETH ADA YTZ LINK. They are the future Microsoft, Oracle Amazon and Apple imo.
 
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Hakuba Gaijin said:
ETH is going to be huge. I was a day trader in the mid nineties when the internet first hit the mainstream and wall street starred noticing it. The crypto market feels exactly the same right now as the internet did back then.

Get on now before the normies and wall street wake up. A few hedge funds are just starting to dip their toes into btc and eth right now. It ll be a torrent in a few months.

Just my opinion, but the winners will be the block chains that provide the backbones for others to build upon eg .ETH ADA YTZ LINK. They are the future Microsoft, Oracle Amazon and Apple imo.
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Remember the dot com bubble though, so I'd not just invest in random altcoins.
 
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Wally Walbertson said:
ETH 2.0 is coming soon, cool new tech like zksnarks. Now, since Bitcoin can be wrapped and transacted with Ethereum, there's even more possibilities. There's 4 times more Bitcoin wrapped on Ethereum than there is in the Bitcoin Lightning sidechain...

Also, Vitalik is still an autist

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I'm putting my bets on transaction roll-up optimization schemes using zk-STARKs or similar. I feel that smart contracts, privacy and such are all well and good, but scalability and low transaction cost without compromising security or decentralization is the holy grail that moves this thing beyond a nerdy libertarian hobby-horse to a real PayPal-slayer. Building it natively into the protocol is even better because it then lowers the effort in building the app infrastructure on top. They are now doing this at the exchange level to prove out the tech, but it is going to work its way down sooner or later.

Trillion-dollar Q is which chain is first-to-market with a workable solution, because it will lock-in one hell of a first mover advantage, IMO. We'll see if ETH 2.0 can win that race, but I have my doubts. They seem to be a mess, from a leadership perspective. I suspect someone else will pull off a coup and beat them to the punch.

If you're inclined to speculate keep an eye on that company StarkWare, they got investment from both Vitalik Buterin and Arthur Breitman for good reason.
 
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Today is a pretty big day. ETH has met it's 2018 all time high price. Wow I wish I had held onto some. :(
 
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Ive only been holding onto 2.7 ETH that I bought at $200. Wish I had a lot more, but I am not selling until my 2.7 gets me a downpayment in a year or two.
 
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