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

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Gonna start agreeing here. If only because from what I am reading "the powers that be" have decided Etherium is the crypto to go with, because the energy requirement to run its block chain as as a global reserve currency is doable. With Bitcoin, not so much. The farms favored funny money BAT is also tied to Etherium at a rate of 6400 per.
 
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If I see even a slight dip I keep throwing money at ETH. Even if it crashes I don't care because if this really takes off I want to be here for it not crying in the corner with what I missed out on. Crypto in general is about to turn a real corner this year and ETH seems to be the one that everyone is going with. Just can't figure out if I should transfer the rest of my BTC into it because these price targets people are throwing out on Bitcoin are insanity.
 
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I want some dip to 800

If you look at the chart crypto demand is highest during January and Feb and just dips to nothing.
 
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New fag here with something that might be of interest - the reserve bank of Australia (RBA) is testing an Ethereum-based central bank digital currency (CBDC) in partnership with ConsenSys, Commonwealth Bank, National Australia Bank and Perpetual.


Note what Assistant Governor Michele Bullock says: "With this project we are aiming to explore the implications of a CBDC for efficiency, risk management and innovation in wholesale financial market transactions." (my emphasis)
 
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RussianMozart said:
New fag here with something that might be of interest - the reserve bank of Australia (RBA) is testing an Ethereum-based central bank digital currency (CBDC) in partnership with ConsenSys, Commonwealth Bank, National Australia Bank and Perpetual.


Note what Assistant Governor Michele Bullock says: "With this project we are aiming to explore the implications of a CBDC for efficiency, risk management and innovation in wholesale financial market transactions." (my emphasis)
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Its definitely going to become the new hotness. Banks like its distributed nature which allows them to issue their own tokens. Since this decentralizes things it makes the overall cost of doing large bulk transactions in Ether far less expensive. It also reduces that dreaded latency inherent to Bitcoin, which has been the biggest sticking point. Bitcoins price fluctuations means I could in theory buy a $499 PS5 off of Amazon with Bitcoin, but in the time it takes for the blockchain to update the ledger, Amazon may end up getting either $497 or $501 due to price fluctuation. At an individual level this level of variation is largely unimportant, but for a bank or major corporation this sort of price fluctuation between point of sale and finalizing the transaction is unacceptable. Using a Pegged Ether token allows them to get around this by running their own blockchain ledger, using Ether as a kind of "Gold Standard" to back the value of their own crypto. From what I understand the central network is also planning some software updates that will also decrease latency further.

tl;dr, Ether is gonna be big IMO.
 
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so many other coins are built off Ethereum including everything that powers the most popular DeFi exchanges these days. altho there are big changes coming to ethereum over the next few years, will be interesting to see how that affects things. one of the co-founders of eth Gavin Wood started Polkadot which is also trying to do some of the same things as eth2, incorporating multiple chains, and his project already has a significant market cap.
 
I am intrigued by etherum and want to add it to my portfolio but I feel like the whole market is crazy right now and only ending seems to be leading to a crash of our lifetime.
 
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HOMO FOR LIFE said:
I am intrigued by etherum and want to add it to my portfolio but I feel like the whole market is crazy right now and only ending seems to be leading to a crash of our lifetime.
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I'm not really sure about it, in my opinion blockchains should just be for moving money in the most efficient way, and Etherium is pretty bloated trying to to everything at this point. In Bitcoin, they only add features if they would be helpful for enabling better efficiency of a layer 2 system or something like that, not so you run pump-and-dumps on it.
 
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HOMO FOR LIFE said:
I am intrigued by etherum and want to add it to my portfolio but I feel like the whole market is crazy right now and only ending seems to be leading to a crash of our lifetime.
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yeah things have been all over the place and many coins are at their all time high, probably not the best time to buy in.

Vecr said:
I'm not really sure about it, in my opinion blockchains should just be for moving money in the most efficient way, and Etherium is pretty bloated trying to to everything at this point. In Bitcoin, they only add features if they would be helpful for enabling better efficiency of a layer 2 system or something like that, not so you run pump-and-dumps on it.
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true but there are a lot of other coins that run on top of eth, that's where its actually really useful. it powers a majority of the ecosystem currently.
 
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HOMO FOR LIFE said:
I am intrigued by etherum and want to add it to my portfolio but I feel like the whole market is crazy right now and only ending seems to be leading to a crash of our lifetime.
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I dunno how much crypto would be effected by a market crash though. Since it's not really tied to a bank or corporation it would not be affected overly much if banks started failing. If anything that would make its value increase as it would serve as more of a safe haven for getting out of a failing stock market and high interest saving accounts. I think what has me hype the most for Ether though is all the chatter among the banks about its potential. They've always been leery about Bitcoin, not the least because its volatile.
 
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mindlessobserver said:
I dunno how much crypto would be effected by a market crash though. Since it's not really tied to a bank or corporation it would not be affected overly much if banks started failing. If anything that would make its value increase as it would serve as more of a safe haven for getting out of a failing stock market and high interest saving accounts. I think what has me hype the most for Ether though is all the chatter among the banks about its potential. They've always been leery about Bitcoin, not the least because its volatile.
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When stock collapsed in March the price of gold also collapsed.

I think it has to do with people taking out money and cashing out to increase their capital to pay for goods and shit.

I think that once inflation goes insane, people will have less money to throw around and we are going to see some fucked up crash.
 
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HOMO FOR LIFE said:
When stock collapsed in March the price of gold also collapsed.

I think it has to do with people taking out money and cashing out to increase their capital to pay for goods and shit.

I think that once inflation goes insane, people will have less money to throw around and we are going to see some fucked up crash.
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Will out of control inflation hurt crypto or help it though? I am fairly new to the stuff though I thought bitcoin was "interesting" a decade ago and like everyone else am kicking myself for not jumping on the bandwagon. My view is crypto is slightly different from Gold in that the psychological component is FAR more important. When you can denominate to hundreds of billionths of a single unit of value, you are approaching the level of fiat currency. You cannot do this with Gold. Who would buy .00000001 troy ounces of actual gold. How could you even store it? It would literally slip through your fingers if you try and touch it.

Why I am hype for Etherium as opposed to Bitcoin as the "crypto gold standard" is because it can do what Bitcoin does, but in an even more decentralized way. Its ability to create NEW currency is what sets it apart. Bitcoin is essentially trying to buy shit with gold Bars. Which is why I did not buy bitcoin. It qas premised on a VERY outdated financial model. Commodity bartering. I give you a sack of wheat for a pair of shoes essentially. Sure the sack of wheat has value but is it the value of a pair of shoes? It could be more then its value. Or less! That uncertainty muddles the transaction.

By contrast Etherium is the Gold Bars stored in a bank vault backing up the paper money the bank issues. I am surprised nobody has noticed this. I guess it takes fresh eyes and a knowledge of financial history?
 
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By contrast Etherium is the Gold Bars stored in a bank vault backing up the paper money the bank issues. I am surprised nobody has noticed this. I guess it takes fresh eyes and a knowledge of financial history?
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It also means that there's no need to make a new crypto/digital currency. Your regular currency can be used as a crypto with Ethereum. This makes it very attractive to nation-states as the national cryptocurrency won't threaten the run of the mill currency (they're one and the same) and it means there's no need to make a digital currency or try to get people to use it (which would cost money).
I have no idea if this will harm the value of the cryptos already in use, but it does strengthen the case for Ethereum-based national cryptocurrencies.
 
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mindlessobserver said:
Will out of control inflation hurt crypto or help it though? I am fairly new to the stuff though I thought bitcoin was "interesting" a decade ago and like everyone else am kicking myself for not jumping on the bandwagon. My view is crypto is slightly different from Gold in that the psychological component is FAR more important. When you can denominate to hundreds of billionths of a single unit of value, you are approaching the level of fiat currency. You cannot do this with Gold. Who would buy .00000001 troy ounces of actual gold. How could you even store it? It would literally slip through your fingers if you try and touch it.

Why I am hype for Etherium as opposed to Bitcoin as the "crypto gold standard" is because it can do what Bitcoin does, but in an even more decentralized way. Its ability to create NEW currency is what sets it apart. Bitcoin is essentially trying to buy shit with gold Bars. Which is why I did not buy bitcoin. It qas premised on a VERY outdated financial model. Commodity bartering. I give you a sack of wheat for a pair of shoes essentially. Sure the sack of wheat has value but is it the value of a pair of shoes? It could be more then its value. Or less! That uncertainty muddles the transaction.

By contrast Etherium is the Gold Bars stored in a bank vault backing up the paper money the bank issues. I am surprised nobody has noticed this. I guess it takes fresh eyes and a knowledge of financial history?
Click to expand...
yes, this is why I want to get some ethereum. Yet I can't help but see this is a fucking bubble.
 
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Seeing another crash soon. Considering cashing out my ETH and buying in again later but idk
 
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