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Old 05-25-2017, 07:22 PM   #201
housenuts
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Re: Ethereum - Blockchain App Platform

Quote:
Originally Posted by Gzesh View Post
If it drops significantly, I'll get back in for the eventual longer term rise.

I still like smart contracts laid over a decentralized payments, escrow and secured assets technology.
If current price is too high for your liking and you like smart contracts you should look into the upcoming Tezos ico
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Old 05-25-2017, 10:27 PM   #202
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Re: Ethereum - Blockchain App Platform

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Originally Posted by GBP04 View Post
wild guess

1/400 americans
1/2500 americans
I'd say the # of Americans who can tell you what it is/does is north of 1/10,000. I try to follow this stuff closely and still can't tell you much about it.
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Old 05-25-2017, 11:07 PM   #203
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Re: Ethereum - Blockchain App Platform

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Originally Posted by Go Get It View Post

Someone help me to understand why when BTC goes off the deep end so does ETH and Litecoin and damn near everything else.

From what I understand ETH is litterally nothing like bitcoin.... I know they get lumped in together and both have blockchain in common but that's about it?
Don't be fooled by the recent appearance that various cryptos are correlated with regard to price fluctuations. Sometimes they are correlated and sometimes they aren't, and sometimes they are inversely correlated. It depends on all the mitigating factors.

Recently (the last month or so,) there has been eveidence that much of the price increases are due to buy pressure in Asia (China, Japan, and Korea.) if the reason behind this is poor local equities performance and/or regulations with regard to moving money across borders then what is good for the crypto goose is good for the gander. They will basically all move together and that is what we've seen.

But if you look at a major future event that specifically affects one particular currency (like the forthcoming transition in ethereum from PoW to PoS,) then you will see something very different. As enthusiasm builds for the switch you will see independent ETH fluctuations and if something dramatic happens like a massive protocol/adoption failure requiring a hardfork, then you will see inversely correlated movement between the price of BTC and ETH. The same thing could occur in the bitcoin space with the adoption of SegWit or a change in block size. It just happened with Monero due to the "fake news" about a big announcement which caused Monero to almost double while BTC and ETH were falling back, only to crash while ETH and BTC surged and then recover a bit while the big coins fell once again. That may have looked like inversely correlated price movement but it wasn't. It was just coincidental trolling by a lead developer (FluffyPony) while other nonsense was going on with the big coins (possibly influenced by Coinbase shutdowns.)

So I would warn you not to count on patterns regarding different cryptos and their relative price movements. We saw correlated movements across the space all month with periods of random nonsense. The second half of this year could get nuts with the impending Casper and SegWit implementations. I wouldn't be surprised if ETH overtook BTC as the market cap leader, nor would I be surprised if BTC left ETH in the dust. What would surprise me is to see both of them move in apparent unison for very much longer. People love to try to pick winners and there could be a trillion dollars in this space by the end of the year. It'll be fun to watch.
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Old 05-25-2017, 11:22 PM   #204
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Re: Ethereum - Blockchain App Platform

On that note, the Casper Proof of Stake algorithm implementation in ethereum is one of the ballsiest moves I've ever seen in any medium. They are going to take a currency (or equity, or socio-econoimic platform or whatever your preferred label is) with a 15+ billion dollar market cap and change the incentive and penalty system overnight.

Imagine sitting at an Orca show at SeaWorld and they tell the crowd that for this next show they are going to use gummy bears instead of fish to reward Shamu because a smart trainer thinks the killer whales will like it better. Then we get to gamble on whether or not the trainer survives.
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Old 05-25-2017, 11:31 PM   #205
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Re: Ethereum - Blockchain App Platform

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Originally Posted by GBP04 View Post
wild guess

1/400 americans
If this is even close to correct the bubble has a loooooooooooooong way to run.

But it's not. Way more have heard of it.


Quote:
1/2500 americans
There's zero chance one in 6.25 people who have heard of it can tell you what it does (unless you count "it's digital money")
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Old 05-25-2017, 11:54 PM   #206
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Re: Ethereum - Blockchain App Platform

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Originally Posted by Irieguy View Post
Imagine sitting at an Orca show at SeaWorld and they tell the crowd that for this next show they are going to use gummy bears instead of fish to reward Shamu because a smart trainer thinks the killer whales will like it better. Then we get to gamble on whether or not the trainer survives.
I like the analogy except it would be after rigorous testing so there'd be a very strong understanding the trainer will be ok.
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Old 05-26-2017, 12:47 AM   #207
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Re: Ethereum - Blockchain App Platform

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Originally Posted by Kazuya View Post
Yeah. Read this and this by Vitalik regarding the DAO. May as well get that out of the way as it's usually the first thing people very pro-bitcoin cite. The basic consensus is the DAO situation sucked, but we learned lots from it and it was almost better to happen then than down the road if it were to happen..

Also,

June 2016 ETH was ~$13

May 2017 ETH is ~$128
May 2017 ETC (the split) is ~$8

The market/stakeholders (investors/developers/miners) have spoken
There is no real argument here other then "IT WONT HAPPEN AGAINS GUYZ, I PROMISE!"

I'm still at a complete loss as to how so many competent people seem to be invested in ETH (over ETC and in general.) Would love a reasoned explanation.


Quote:
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You could replace ETH with most cryptos in this instance
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Old 05-26-2017, 03:33 AM   #208
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Re: Ethereum - Blockchain App Platform

than*
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Old 05-26-2017, 03:50 AM   #209
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Re: Ethereum - Blockchain App Platform

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Originally Posted by housenuts View Post
I like the analogy except it would be after rigorous testing so there'd be a very strong understanding the trainer will be ok.
You set the line I pick the side?
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Old 05-26-2017, 08:26 AM   #210
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Re: Ethereum - Blockchain App Platform

So let´s assume that ETH somehow manages to get to 1000 $ or even 2000 $.

In this unrealistic scenario it would become pretty expensive to execute a smart contract (theoretically the value of the needed ETH to run it could actually surpass the value of the contract itself).

Where is the flaw in my line of thinking?

If I´m right this really places a "glass ceiling" on the potential value of ETH.
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Old 05-26-2017, 08:34 AM   #211
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Re: Ethereum - Blockchain App Platform

I think gas is pegged to the dollar value of ETH. ie it will always 1 cent to run a function in a contract whether an ether is 1 usd or 2k usd.
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Old 05-26-2017, 08:36 AM   #212
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Re: Ethereum - Blockchain App Platform

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Originally Posted by Irieguy View Post
You set the line I pick the side?
On whether POS is secure after implementing?
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Old 05-26-2017, 11:44 AM   #213
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Re: Ethereum - Blockchain App Platform

Amurophil,

I'm pretty sure you don't understand the DAO and a few other things. If you can write out what you see is a reasoned argument (the more specific the better) for investing in ETC/copycat coin instead I can address it from there. What is your reasoned counter argument? I'll go from there in a few days.
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Old 05-26-2017, 12:44 PM   #214
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Re: Ethereum - Blockchain App Platform

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Originally Posted by housenuts View Post
On whether POS is secure after implementing?
I'm curious to know what you think the line is for ETH doubling or halving in market cap at time X after implementation of PoS.
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Old 05-26-2017, 12:45 PM   #215
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Re: Ethereum - Blockchain App Platform

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Originally Posted by stinkypete View Post
If this is even close to correct the bubble has a loooooooooooooong way to run.

But it's not. Way more have heard of it.




There's zero chance one in 6.25 people who have heard of it can tell you what it does (unless you count "it's digital money")
I mean, I know probably 5 people IRL who know what it is, all five would be able to mention 'smart contracts" in their one sentence explanation. and the very basic gist of 'smart contracts' is almost self-explanatory.

like I said 1/400 and 1/2500 are wild guesses but I'm not convinced they are unreasonable. do you know a ton of people who know what etherium is but have no idea what a smart contract is??
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Old 05-26-2017, 03:05 PM   #216
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Re: Ethereum - Blockchain App Platform

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Originally Posted by Irieguy View Post
I'm curious to know what you think the line is for ETH doubling or halving in market cap at time X after implementation of PoS.
Oh, I have no idea. But I think it's more likely to double than halve after POS
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Old 05-27-2017, 06:11 AM   #217
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Re: Ethereum - Blockchain App Platform

Do you guys think we are in for months of calm before the next run up? I'm thinking that news will keep on flowing every month or so with the EEA having thousand of people working 9 to 5 jobs on actual blockchain applications.
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Old 05-27-2017, 06:15 AM   #218
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Re: Ethereum - Blockchain App Platform

Pretty much. I'm assuming we are in a repeat of exactly what btc did in 2013. The price values are even the same, topped at about 200 and lost half its value in the first selloff. Next bubble at 1200?

Last edited by Pinkmann; 05-27-2017 at 06:25 AM.
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Old 05-27-2017, 06:19 AM   #219
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Re: Ethereum - Blockchain App Platform

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Originally Posted by BABARtheELEPHANT View Post
Do you guys think we are in for months of calm before the next run up? I'm thinking that news will keep on flowing every month or so with the EEA having thousand of people working 9 to 5 jobs on actual blockchain applications.
Both what I am thinking and what I am hoping since it gives me time to collect a few more $$$ to invest at a good price.
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Old 05-27-2017, 08:57 AM   #220
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Re: Ethereum - Blockchain App Platform

+45% in 2h. Standard
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Old 05-27-2017, 09:12 AM   #221
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Re: Ethereum - Blockchain App Platform

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Originally Posted by Irieguy View Post
I'm curious to know what you think the line is for ETH doubling or halving in market cap at time X after implementation of PoS.
definitely double.

if you look at coins that switched to proof of stake, they all went up in price. this is because with an algorithm like proof of work, a lot of money goes into the mining infrastructure. with proof of stake, all that mining infrastructure money instead goes into the currency. which makes it go up. which attracts more investors.
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Old 05-29-2017, 08:31 AM   #222
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Re: Ethereum - Blockchain App Platform

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Originally Posted by invictus-1 View Post
which makes it go up. which attracts more investors.
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Old 05-29-2017, 07:42 PM   #223
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Re: Ethereum - Blockchain App Platform

Kazuya, just curious, can we get an update on your BTE experience?
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Old 05-29-2017, 08:32 PM   #224
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Re: Ethereum - Blockchain App Platform

Hey!


Cliffs are I sold it (for a good profit I think in the 5.xx, but not @ the top; I wanted to use that $ for other things*). I stopped updating that thread once I was no longer actively involved playing poker. I had no idea there was anyone out there who was still wondering or cared =). I probably should post that in that PG&C thread in case there were lurkers who followed me because it's a sell right now in my mind/nowhere near the spot it was in early 2015+. A lot of the upside/ceiling has faded due to debt being closer to needing to be serviced (2019) and CAPEX budgets slashed in 2016/2017. Also larger macro outlook isn't as great in my mind as it was in 2015/2016...I remember telling people I'd update them if I ever thought about it differently so I'll do that this week.

Cheers buddy, did you ever end up doing Vipassana? Give me an update through PM if you have one!

Spoiler:

Last edited by Kazuya; 05-29-2017 at 08:58 PM.
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Old 05-30-2017, 01:49 AM   #225
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Re: Ethereum - Blockchain App Platform

We are already back to ATH. This is so bullish. I'm confident Ima get rich off this thing.
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