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Old 05-24-2017, 01:15 AM   #126
BABARtheELEPHANT
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Re: Ethereum - Blockchain App Platform

here we go again. Round 2.
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Old 05-24-2017, 01:45 AM   #127
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Re: Ethereum - Blockchain App Platform

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Originally Posted by housenuts View Post
Read the first post about it being a programmable language. You can create 'smart' contracts to run them on the decentralized network.

Bitcoin can't do that. It can only act as a store of value and means of exchange. Yes, there can be side chains or Rootstock coming up on the bitcoin blockchain so we'll need to see how that plays out.
You can create SMART CONTRACTS on a DECENTRALIZED NETWORK thus the currency will continue to appreciate at EXPONTENTIAL RATES.
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Old 05-24-2017, 05:44 AM   #128
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Re: Ethereum - Blockchain App Platform

Anybody have a good knowledge of how big of a threat Rootstock can pose to ETH? What can it not do that ETH can , etc?
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Old 05-24-2017, 06:15 AM   #129
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Re: Ethereum - Blockchain App Platform

Did it really hit $702 while I was sleeping? WTF
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Old 05-24-2017, 08:48 AM   #130
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Re: Ethereum - Blockchain App Platform

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Did it really hit $702 while I was sleeping? WTF
Wait really? I'm at $192 as of this posting.

And at $192 it's my first ETH double so that's nice.
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Old 05-24-2017, 09:21 AM   #131
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Re: Ethereum - Blockchain App Platform

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Did it really hit $702 while I was sleeping? WTF
No. Source?
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Old 05-24-2017, 09:22 AM   #132
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No. Source?
I think it was a Kraken api bug
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Old 05-24-2017, 09:24 AM   #133
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Re: Ethereum - Blockchain App Platform

Kraken is overloaded again, they really need to add more infrastructure. 504 errors are a direct result of getting too much traffic

Price is about $196 now.
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Old 05-24-2017, 10:32 AM   #134
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Re: Ethereum - Blockchain App Platform

When I loaded up coinmarketcap at 630 this morning it said the 24hr high was $702.
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Old 05-24-2017, 10:33 AM   #135
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Re: Ethereum - Blockchain App Platform

feels like we've hit peak euphoria five days in a row, never seen anything quite like this in traditional markets

think i've seen 8 separate waves of touts saying buy ETH at the all time high and those following the touts have gotten paid 8 times in a row lol

spotify coin seems really cool
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Old 05-24-2017, 11:11 AM   #136
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Re: Ethereum - Blockchain App Platform

Euphoria should continue today and tomorrow. May dip off after Token Summit or maybe that will be the beginning of an even bigger up wave.
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Old 05-24-2017, 11:23 AM   #137
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Re: Ethereum - Blockchain App Platform

Clayton,

This isn't like traditional markets. Lots of people are putting on their trader caps and not seeing how this all works in the Blockchain world; an easy mistake because this is a new playground. What plays out in a month of trading/activity here, may traditionally take a year in traditional markets.

For example, when I posted hey buying at $90 isn't a bad spot a lot of people were saying yeah but it just hit all time highs, that just doesn't seem right etc and they'll wait/buy the dip. The point is their mindset is completely wrong for this type of investment. Another likely problem is a dip of 40%+ (which will happen at some point) may be from 320 -> 175 or something and not right away, so say in September or such, which once again is 'years' away in the Crypto world for something like Ethereum. And even then it could just last a few weeks or something before it powers through. The more important thing is to get a foot hold in rather than 'perfect' timing //

May as well combine two posts:

For all the pretty graphs people post, in my eyes this is one of THE most important ones and what people should actually focus on:

https://bitinfocharts.com/comparison...tc-eth.html#3m

Hopefully that URL link works, but if it doesn't I encourage everyone to go click on BTC & Eth, put it on a 3-month chart (or longer if you want) and linear/logarithmic and compare. Yeah Bitcoin has gone up too, but it's just a matter of time before Ethereum passes Bitcoin at the rate it has been going. This is where the growth/utility lies, ignore the 24hr price swings unless you're a trader. This is what really matters, and why hopefully a few people on 2p2 who consider themselves smart look at this and pause before yelling BUBBLE/SHORT because it's clear they don't understand where this is going. The early/smartest $ know once it's passes about ~375k ish daily Bitcoin becomes the alt coin (in a figurative sense, but it will be just a matter of time at that point).
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Old 05-24-2017, 11:43 AM   #138
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Re: Ethereum - Blockchain App Platform

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Create an account on an exchange, deposit fiat, buy ether.

Exchanges:
Coinbase
Kraken
Gemini
Bitstamp

Here is a list of some other exchanges: https://blockgeeks.com/guides/best-c...ncy-exchanges/

Depending where you live some exchanges may or may not be available.
what's the cheapest way to buy it?
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Old 05-24-2017, 11:45 AM   #139
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Re: Ethereum - Blockchain App Platform

Check the price at various exchanges and determine yourself. They should all be roughly similar.

Korean exchanges are about 20% higher.
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Old 05-24-2017, 12:10 PM   #140
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Re: Ethereum - Blockchain App Platform

Yeah buy in the US sell in Japan or Korea for arbitrage.
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Old 05-24-2017, 12:15 PM   #141
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Re: Ethereum - Blockchain App Platform

It's difficult to withdraw from many exchanges. Arbing is not that simple. You likely need to be a citizen/resident of China or SK
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Old 05-24-2017, 12:38 PM   #142
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Re: Ethereum - Blockchain App Platform

Any way to buy eth with btc?
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Old 05-24-2017, 12:44 PM   #143
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Re: Ethereum - Blockchain App Platform

Is it true that if by chance disaster were to strike and the price were to drop dramatically it would be very hard to sell this?

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Any way to buy eth with btc?
You can just sell some BTC on coinbase and then buy Eth.
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Old 05-24-2017, 12:48 PM   #144
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Re: Ethereum - Blockchain App Platform

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Originally Posted by housenuts View Post
It's difficult to withdraw from many exchanges. Arbing is not that simple. You likely need to be a citizen/resident of China or SK
I tried this as a test yesterday, but transferring coins between the exchanges simply takes too long from my experience. I tested buying 1 btc at kraken for $2170 and transferring to poloniex which had btc at $2210, but the whole thing took ~30 minutes to send back to kraken which netted me a whole $10 after fees and price fluctuations. :P
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Old 05-24-2017, 12:49 PM   #145
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Re: Ethereum - Blockchain App Platform

Eth should xfer much faster than btc
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Old 05-24-2017, 02:00 PM   #146
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Re: Ethereum - Blockchain App Platform

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Originally Posted by NuklearWinter View Post
I tried this as a test yesterday, but transferring coins between the exchanges simply takes too long from my experience. I tested buying 1 btc at kraken for $2170 and transferring to poloniex which had btc at $2210, but the whole thing took ~30 minutes to send back to kraken which netted me a whole $10 after fees and price fluctuations. :P
Enjoy your free pizza.

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Eth should xfer much faster than btc
+1
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Old 05-24-2017, 02:16 PM   #147
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Re: Ethereum - Blockchain App Platform

Quote:
Originally Posted by Kazuya View Post
Clayton,

This isn't like traditional markets. Lots of people are putting on their trader caps and not seeing how this all works in the Blockchain world; an easy mistake because this is a new playground. What plays out in a month of trading/activity here, may traditionally take a year in traditional markets.
Nonsense. Bitcoins and altcoins are trading exactly like pump & dump bios here.

Increasing press, the "50 bagger" scenario to get losers excited, the price movement causing it to hit the mainstream press and putting more losers into its orbit who put half their net worth in without even knowing what a bitcoin is or what drug the company is supposed to be selling, sending it even higher - it's how these things work until the pool of loser money dries up and it all comes crashing down.

This is a stock standard bubble situation that traders have seen dozens of times.
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Old 05-24-2017, 02:59 PM   #148
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Re: Ethereum - Blockchain App Platform

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Originally Posted by ToothSayer View Post
Nonsense. Bitcoins and altcoins are trading exactly like pump & dump bios here.

Increasing press, the "50 bagger" scenario to get losers excited, the price movement causing it to hit the mainstream press and putting more losers into its orbit who put half their net worth in without even knowing what a bitcoin is or what drug the company is supposed to be selling, sending it even higher - it's how these things work until the pool of loser money dries up and it all comes crashing down.

This is a stock standard bubble situation that traders have seen dozens of times.
I am curious if you believe that Ethereum is a tulip-style bubble where the underlying asset is worthless, or a housing-style bubble where the underlying functionality of a blockchain/smart contracts/tokens/ICOs is worth something- just not as much as speculators think?

It seems to me that a major difference between the two types of bubbles is the presence of risky lending and leveraged purchasing. Banks won't lend you money to buy penny stocks or tulips. So I'm assuming you think this is a housing type bubble where the asset has value, just not as much as the market indicates. I'd like to know what you and others think.
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Old 05-24-2017, 03:04 PM   #149
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Re: Ethereum - Blockchain App Platform

Quote:
Originally Posted by ToothSayer View Post
Nonsense. Bitcoins and altcoins are trading exactly like pump & dump bios here.

Increasing press, the "50 bagger" scenario to get losers excited, the price movement causing it to hit the mainstream press and putting more losers into its orbit who put half their net worth in without even knowing what a bitcoin is or what drug the company is supposed to be selling, sending it even higher - it's how these things work until the pool of loser money dries up and it all comes crashing down.

This is a stock standard bubble situation that traders have seen dozens of times.
I'm going on the record as saying we're not there at this moment and won't be in the near future/highly unlikely to happen in 2017. To be clear, I'm speaking only within the scope of Ethereum and not all cryptocurrencies.

Scenario: If Eth goes from Price X -> drops 70% -> >X was it a bubble or was I wrong? I'm going to say 'No' to both (I do not think it's a one-way to the moon scenario, there will likely be very big bumps, especially when some of these other coins are exposed as frauds)

What you're describing I'm not saying that can't or won't happen in the future where there's a bubble of sorts, but as of now there is barely any institutional money in cryptocurrencies and for an event of that magnitude to happen there likely has to be a lot more traction. Even with its recent growth in Market Cap, I still believe it's in the stage where nerds/tech people who know how to operate exchanges own some and people outside of it are just beginning to learn there's something else besides Bitcoin. Grandma isn't phoning up their broker asking what about this internet currency I saw on CNN and going all in (yet). I wear an Eth shirt at the gym and I'd say 2% of people recognize the logo and what it is. It's my opinion but I'm strongly of the belief we're still so far away from that as far as timelines go/bubbles go. And of course in the meantime Ethereums adoption/platform usage [a.k.a. value] will continue to grow as seen in the chart I posted back a few replies.
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Old 05-24-2017, 03:30 PM   #150
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Re: Ethereum - Blockchain App Platform

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Originally Posted by Irieguy View Post
I am curious if you believe that Ethereum is a tulip-style bubble where the underlying asset is worthless, or a housing-style bubble where the underlying functionality of a blockchain/smart contracts/tokens/ICOs is worth something- just not as much as speculators think?
I like Ethereum a lot more than Bitcoin. Bitcoin is finished in the long run. There is nothing special or unique about it beyond having a name that people recognize. It doesn't have a staff advantage, a technology advantage, and it has several huge technical disadvantages. The Bitcoin community also seems ossified and unable to solve its various problems in a timely and effective manner. Which is why altcoins are crushing them.

Beyond that, I don't know enough about Ethereum, the investments in it, its use cases, to have a clear vision of where this could go. Any idiot can understand "programmable smart contracts" and put together a shiny, hand-wavy case of why they'll be brilliant (which is the reason clown money is piling into Ethereum during this bubble). Long term though? You'd need to know a lot more than I do to pick it. And probably everyone here.
Quote:
It seems to me that a major difference between the two types of bubbles is the presence of risky lending and leveraged purchasing. Banks won't lend you money to buy penny stocks or tulips. So I'm assuming you think this is a housing type bubble where the asset has value, just not as much as the market indicates. I'd like to know what you and others think.
You can walk into your bank and get a loan to buy Ethereum? If so, let me know the name of the bank. I'll both get a loan from them and short the stock

This looks like every other bubble to me.

Kazuya is arguing that we're at the early stage of the bubble, and that awareness has a lot further to spread. It's probably worth doing that analysis. My instinct says we're beyond the early stage.
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