I hope this question is a joke but if not, look here.

not a joke, a legitimate question. I haven't watched a whole playlist someone linked.

Scaling, transaction fees, change to POS & LOTS of ICO scams are the main 4.
I think video of iloveny will make MORE confident though as guy ask questions is known troll and even he likes answers other person give!

Days like today scare me....even tho they are great


Makes it feel way more sketchy/bubbly

Ok so this guy is a toxic clown. Let's deconstruct it.

I'll address the last 2 paragraphs cause he's specifically talking about Eth.

Eth can handle much more than 15 T/S. Did he pull this number out of his ass? And second off, comparing a BTC transaction to an ETH transaction is like apples and oranges. BTC sends just bits of little info from A -> B. That's it and that's all it can pretty much ever do. Eth can do that, but it can also send tokens, and it can execute logic on those tokens or information that it sends. Transactions like that do take more gas. Those ones [transactions] that BTC do, it would take probably 1 GWei (10^9) - which is roughly probably ~2c to complete (and probably 20-30 seconds at ~215k daily transactions which is what it was done at today).

Miners can also decrease/increase the gas limit, so if **** is hitting the fan (say like on the day the BAT ICO happened) they increased it and yeah it cost more, but the logjam went through fine in the end. They can also decrease it, which Vitalik asked them to do a few weeks ago (45% dropped acceptance to around 1 GWei from 20 when it was beginning to get busy). Why would they do that? Cause they're not idiots and realize it's good for the ecosystem. Scaling issues will be worked on and I'm looking forward to future forks, but for him to say 200 gamblers will somehow jam Ethereum network is complete fabrication and will NOT happen (nor has it ever happened).

The bottom line is the poster there is an extremely salty bitcoin maximalist. At this stage it's just funny to read what they have to say but it's a waste of mental energy and just a huge ball of negativity mixed with anger and denial. I fully expect 90% of them to either create new usernames and pretend all their predictions about ETH being a 'scam/unscalable' whatever after the flippening happens to never have happened, and/or pretend to have invested in ETH all the way, but I disgress and it doesn't really matter to me one way or another.

Put simply another way, there are a lot of so called 'experts' that are at best pretty dumb and are just not good at strategy at all and are so completely off-base. It sounds nuts, but if someone is making claims, definitely check their posting history and see if they have any credibility. There is so much misinformation out there right now. I don't know how to better explain it than that other than saying his argument is a facepalm emoji and I hope no one puts any weight into it. Anyhow, for whatever reason, a lot of miners fall into this category of being completely awful at strategy and he is one of them (For a further example: just look at what's happening to BTC with their miners right now as proof).

Also lol @ that video with Chris DeRose. Just google him and you'll see how big of joke he is. Someone make sure to check up on him in a few years when ETH is crushing even more. Vlad is a good developer; he's not the best podcaster or arguer (or investor likely for that matter - I think he sold basically his whole stash sub <20). The whole first 18 minutes (couldn't be bothered to watch the rest) was Chris trying to frame 'gotcha' questions based on the whole premise of: what can ETH do today . Vlad basically saying today Eth can do a bunch of things. It can do even more **** tomorrow. Like we've been saying the whole time.

U really think people should hold till the moon huh. Many tell me already to sell now because it is such a big% of my net worth now.

I've been right pretty much every step of the way so far and my reasoning is based in sound logic and not just random button clicking, I promise you that. Beyond that, I can of course make no guarantees and none of us are owed anything. If it makes you feel better, what I can tell you is over >50% of my net worth is in ETH now. As it stands, zero chance I sell more than 2% of my stash in the next 2 years (I plan to stake once PoS is implemented) If it goes to zero due to some Black Swan, I'm not going to be living out of a cardboard box. I'll be fine either way. For me specifically, the right play is to hold.

Everyones situation is different and you need to think about what this money means to you. If it's food/shelter/clothing money than take it out cause you shouldn't be using that for volatile investing. I remember your thread and what I wrote and it seems to have worked out pretty well for you Be happy with it and don't get greedy. One thing you can do is ask yourself tomorrow if Ethereum goes to ~130 are you going to be bothered?? If so take some out. But in my opinion leave as much in as you are comfortable forgetting about as you can, and if you do take some out, don't put it into other cryptos (If you want exposure to crypto, just stay 100% Eth)

People piling into ETH b/c they think BTC overvalued, and this Aug 1 talk. So many other coins up 100% and down 95% the next day rotating; but In general all is rising. So little info available on theoretical coins with great case use but no stats. ETH should run until it passes BTC marketcap as has been repeated 1,000 times online it seems. New money easily flows into BTC and ETH daily. Appetite for crypto is strong people have no clue where to stick their money outside of ETH and BTC, they leave it there it goes up more.

I have to admit all of us look pretty smart in a bull market like this. But if we enter a 2-year long bear market after this recent rise, that doesn't make any of us any less "right" about the value of crypto. Out of curiosity, did you hold cryptos during 2014 and 2015?


The one thing I do agree with is that anyone who has invested in cryptos should consider it a super risky speculation play and should be prepared to lose it all in a worst case scenario.

ETH has had very good PR of late and should continue with upcoming EEA news and ICOs. We're 2/3 of the way to the "flippening" and that is something I never dreamed could actually happen but here we are.

In the current state of things, it's not too difficult to prop up an altcoin's market cap to a few hundred million these days via wash trading. A lot of the top 20 coins were able to grow this way, and these shenanigans should continue as long as BTC and ETH maintain their market caps and keep the fish money's incoming fiat deposits coming.

Human nature/greed is undeniable and when a beginner comes to the polo exchange for the first time, their tendency may be to buy the coin that is cheap and up 30% on the day. Do they know that all of the 30% gain is from one PnD syndicate selling to themselves all the way up? Nope, and they will sadly get stuck holding the bag at the end.

I first heard of cryptos from poker obviously 2011~2012. I was too lazy to figure out how to invest even though I was curious. Finally, I started investing in cryptos (BTC) mid 2013. I was 100% BTC 2013-2015, until I started to read more about Ethereum Project and began figuring this stuff out for myself. I switched 100% from BTC to ETH 1Q 2016 when ETH was ~$8 (zero diversification, one is the better gamble by a huge magnitude so why hold the other?) and even added some on the run up at ~40 ~65 and ~90. I already have enough exposure at this point, so I figured I may as well post/share my passion to others who might not yet know as much about the project as me.

Thanks Kazuya. Yes so far it is going very well.

You can just completely not listen to anything Chris says and just listen to Vlad. Vlad is realistic about where Ethereum is today (he says it is basically crap, as are all other cryptos) and how far they have to go to get to PoS, sharding, etc. IMO it's scary when people with significant long positions are totally unaware of these things. Fingers crossed though.

I'm pretty surprised I'm still playing on Ignition and not some Ether poker network. What's the hold up? Is there some technical limitation or something?

Have such a tendency towards optimism - guess before buying more e-coin, it might be a good idea for someone like me to maybe take a moment to figure out what amount might truly be okay with losing?

...

Okay, figured out the amount ... and it still feels pretty high Guess gains on these crypto-currencies this year have been so crazy - it seems like maybe it might be worth it to invest the max amount would be willing to lose, not sure?

This. I aim to sell 20% every time the price doubles. Thus I ride the wave to the top but if it fails completely, which it might, I will still be up tons. I think this is a decent strategy and most other ad hoc strategies that I hear other people follow are terrible or more suited for stocks growing 5-50% per year, not crypto growing 50% per day.

Chances of a flip before Aug 1?

3.5%

Just look at the graph above and realize if ETH passes BTC in marketcap, as long as BTC doesn't crash but stays about where it is now, ETH will be worth somewhere between 450-550...

Makes 330 seem not so bad.

That Vlad Zamfir interview is terrifying

Why

For the sake of trying to be more objective I should have put an asterisk on this sentence and explained this in much more depth.Technically, with where Ethereum is this moment, this isn't yet changed and I shouldn't be claiming otherwise as if it's a 100% lock to happen. It's going to change in future updates in the way I describe below, but as of this moment in time it's not correct and ~15 T/S is the limit*. I'll do my best to explain what I mean about the whole T/S debate but I want to let everyone know I am not a developer. I'm writing this to try with the purpose to try and help non-technical people understand scaling/sharding with Eth. PoS will have an effect too (using more computing power towards running smart contracts & securing network instead of hash #'s, but best left for a different post) If someone is a developer and has the technical prowess to put this in easier-to-understand laymen terms (or sees any mistakes I wrote here), obviously please feel free to weigh in and contribute if you're willing!

Anyone, I will try my best to better explain here:

Imagine you have a single blockchain and for simplicity sake there is say 100 T/S in the last block (happening currently at 15 T/S).

What causes congestion/scalability problems is well what happens when there is more T/S needing to be processed due to increased usage? For example, just in the last couple months Eth daily transactions have grown from 70k to 215k*. With BTC this is what is leading to higher fees/delayed logjams (more transactions than it can handle in a timely manner). So Ethereum, if it keeps growing without updating the platform, will have the same issues down the road. As of June 2017, the platform is fine for the # of transactions daily (and should be pretty good til maybe 700k ish without any significant delays) So right now, we can have more blockchains (with say 100 T/S) all right behind the first one, but eventually that's going to become a problem. (Say it's like imagining a train with a bunch of containers on 1 railroad track trying to pass through a finish line)

Under current scaling laws that's what would happen. Now Metropolis (the next update) it will likely address improvements that make it easier to interact with singular blockchains (like the one with 100 T/S described above). It will likely have Z-Snarks which add privacy layers through greater anonymity, and make it easier to build Dapps on. It will still be 100% PoW, and not do much, if anything, to address true scaling issues.

After Metropolis, and before Serenity (which will be 100%PoS), there will be an update that switches from full PoW to a hybrid version of PoW/PoS to almost serve as a 'test run' of sorts for what's to come. This is where scaling debate will come to the front and center because for the first time the scaling 'laws' will change. This update AFAIK may have a form of sharding within it.

The way I understand sharding is it's a blockchain on a blockchain (as if it was parallel to the track, not behind it on a long singular chain). Right now let's try to visualize what the current PoW version of Eth looks like: Let's say there is 1000 blockchains, and each one doing 15 T/S. You would then make 1000 blocks in a 15 second period. Each of those 1000 blocks are cryptographically hashed (basically this means using computing power to spit out an individual identity tag consisting of characters), and in turn each of those 1000 are then sent through that railroad track individually 1 at a time (or 15 per second). This isn't very elegant because it takes more time and power and can't sustainably address long-term scaling.

Sharding changes what this would look like: Let's say once again there is 1000 blockchains, and each one doing 15 T/S. You would then make 1000 blocks in a 15 second period. Sharding allows you to hash those 1000 blocks into say 10 blocks. It's taking those 1000 cryptographically hashed blocks, and condensing them into just 10 cryptographically hashed blocks (that if you were to dehash would contain the 1000) Thats ^10 effect on scaling. Visualize those Russian dolls but on steroids that would stack within each other. 1000 -> 10 -> 1 would be another level of sharding. So in other words, that 1 blockchain would have the information of 1000 blockchains contained within it, with it's unique hash. That 1 blockchain would count as 1 T/S, yet if you were to de-hash it, it would technically be 10,000 T/S. So yeah, in the example, imagine instead of a very long singular train track, we now are building out parallel sets of train tracks. All those tracks, containing all that information, can be condensed with a ^10 effect (for sake of this example) on scaling. We're no longer building train tracks linearly, but instead exponentially. When you hear ETH people talking about about it becoming the next super computer of sorts, that's what they're referring to. When usage goes up, all we'd have to do is add another ^10 layer of sharding. If this works as planned, pretty soon, a toaster talking to your iPhone is within the realm of possibility and if that were to happen it wouldn't cause any sort of congestion on the network. Hope this helps!

Cliffs - Paragraphs explaining why a toaster could theoretically talk to an iPhone in the future

*https://github.com/ethereum/wiki/wiki/Sharding-FAQ
*https://etherscan.io/chart/tx

Man, I read about this stuff every day and still don't understand it. Thanks for trying to explain to the layman. I think it will eventually sink in.


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