Ethereum

It's a peer-to-peer virtual computer.

You can add a program to it (contract) that has variables, functions, etc just like a standard computer program. Every peer (node) in the network has the current state of all contracts. Whenever a node calls a function of a contract, their computer processes the transaction according to the code and then publishes the resulting state of that contract to the entire network so all nodes can update.

As well as contracts, there are user accounts, which hold ether and can call functions of contracts. Contracts are also considered accounts, and can do all the things a user can do, like have an ether balance, call functions of other contracts, and even create new contracts.

What makes you THIS optimistic? Based on what I know, it certainly looks like it has a long way to go, but 10k by Christmas!?

So where does the currency fit in to all of this?

Who else is ready to go beyond the moon on this shit?

this is a troll. I agree that there is huge potential here but obviously it won't be that high by christmas

When do you think it'll reach $50-$100?

I've saved up some money and now I can't make up my mind whether to invest in ETH or BTC.

Both, until the Flippening.

A high of 50 by end of year is a plausible successful target to me, and I could write a paragraph on why

When you call a function, you have to pay a small amount of ether called a gas fee. This ensures that someone can't call an infinite loop, spam transactions or do other types of attacks. Each type of computational task has a gas cost and if the gas provided with the transaction runs out, the transaction is rejected (all changes are reverted) but the gas is still paid. The gas goes to the miners, who are verifying the validity of transactions submitted to the network.

I only have like $4k, I'd rather invest in one because it's not a lot a money.

Fuck I was so close to going all in on bitcoin for the last few days, now you're making things harder.

I've done just a tiny bit of research on ETH and people mostly don't have high expectations for it. But they do for Bitcoin because of crazy high bubbles in the past.
So they expect if it could go from 100 to 1000 easily. Then it can also go to 10k easily...

>"The companies working on the Enterprise Ethereum Alliance want to create a private version of Ethereum that can be rolled out for specific purposes and open only to certified participants. Banks could create one blockchain for themselves and shipping companies could create another for their own purposes."

hmm

Just panic bought this shit a few minutes ago after a year of bagholding worthless LTC... plz don't let this fuck my shit up.

a market cap of 5 billion is possible, with a few scenarios

>people switching from bitcoin
>new people investing with trust from the foundation and corporations involved
>metropolis switch goes smoothly and good news about casper

what was the biggest endorsement bitcoin ever got?

when jp morgan, microsoft, intel and ibm are all publicly working with your software, it's a pretty big endorsement, the private chains will create benefits for the public chain

eeeeehhhh

You have to think of price changes in terms of market capitalization. Bitcoin going from 100 to 1k was an instance of large investors and widespread use for the darknet. Bitcoin going from 1k to 10k will require a market cap of 20 trillion, which is going to require major cultural or technological changes (adoption by financial institutions, widespread use of bitcoin debit cards, perhaps major geopolitical currency instability for sustained periods).

Also know that volatility is as a rule of thumb inversely correlated with market capitalization. Bitcoin will not be 10xing in the same time period it last did ever again.

The dark web drug market?

>20 Trillion

Not even close

Guys, if you really want to make some cash this year, check out PLX. It's around a dollar a piece now, but will be worth the close to double within March, and 5$+ by end of year.

seekingalpha.com/article/4048023-protalix-biotherapeutics-new-institutional-ownership-swells-ahead-major-catalysts?page=2

yeah I'm actually autistic. I don't know why i thought 10 = 1000 but to be clear it is 200 billion

This is the best and simplest explain video out there senpai on Ethereum

youtu.be/-SMliFtoPn8

exactly.

Which was a huge endorsement, because it did something that no other service could do: Exchange value anonymously over the internet. What does Ethereum offer that other arbitration services (Escrow services, law enforcement, debt collectors) don't.

Also, have any of you even used Ethereum to make a "smart contract" (whatever the fuck that is)?

Fuck you faggot. Harold is all ETH. Don't use him to shill shit stocks.

Monero is the only truly fungible cryptocurrency available and now people are getting caught on DNM through Bitcoin! Monero is the answer: praisemonero.org/

There are tutorials on YouTube and presentations that show how to do it. The coding aspect can be found on ethereum.org

...

What even is Monegro? What's the niche that makes it unlike Dogecoin?

Lel no most cryptos have more than tripled in value in 1 year

I bought 13 ETC on Coinbase, transferred it to the Ethereum wallet that I got from he official site, and the funds were confirmed transferred, but I don't see them in my wallet?

Did I get jewed?

>and I could write a paragraph on why
ok write that paragraph then

also guys i just bought 800 ETC at $1.261
It's going to the moon right?

wtf its 16 dollars now. I was just going to buy some a few days ago it was 14..ugh

still not too late user

it's 16 dollars now bruh, do u mean u bought it long a go?

What is the most viable way to buy and hold ETH?

i use coinbase...about as easy as you can get. Though ACH purchases take like a week.

he means ETC aka scamcoin

Have you ever tried to transfer funds to the ETH wallet from Coinbase? I'm freaking out, because I had 13 coins, sent them to my account, and they never appeared in my wallet.

this thread is a good example of what the enthusiasm part of a bubble looks like.

new paradigm will be $20

i am sorry i am dumb, but what is meaning of paradigm in this context?

Did you send them to your ETH wallet?

Yeah I sent them from Coinbase to my wallet, and Coinbase says transaction complete, but my wallet says $0.00

no coiner back at it again.
Still buttmad you didn't buy BTC?

I'm a crypto newb but even I know that you always, ALWAYS, send a tiny "test" transfer to make sure it works before you mess with your stack.

>virtual computer gas money blah blah blah

How is a normal person supposed to use this? What would the applications be? "Gee, I want this candy bar, better make a function and ether the money!"

Watch a few presentations on it. It's not meant for you as a user to write the contracts or a set of code. They want to make it as hands off for the average person as possible though for programmers, businesses, etc. it's gold.

Been working at this for close to 2 hours now. I guess that $200 is gone.

you know they had a cloudflare problem? did you change your password?

did you use etherscan?
etherscan.io/

I just tried, and it's showing that the transactions went through, but I don't see them in my wallet.

>You've invested in hype.
This. There is nothing revolutionary. It is backed by nothing. It has no future. I am an expert in CryptoCurrency I've built my own trading bot from scratch and my own coin too (before it was so easy). This is all shit.

Fuck I finally got it. Just installed the ETH wallet on my other computer and transfered over the keystore.

good to hear buddy, that would have sucked

K.
>in.mobile.reuters.com/article/idINKBN1662KM

Yeah I can get up and feed my kids now.

Do you have to show ETH purchases on your taxes?

Go to /r/ethtrader and /r/ethereum/ for more information on that.

Better to be safe than sorry in my opinion when it comes to this stuff. I just fucking imagine the government wanting to tax this shit to hell. I'd say bare minimum pay the capital gains tax.

Capped for posterity. I'm up 125%, hbu?

You bought into a company without knowing the fundamentals or what it's about?
You are a special kind of stupid.

I have $15k right now. Why shouldn't I go balls deep on this and ride it to the moon?

I just bought 150 ETH, hop on the ride while you can, but just know that you could lose a good bit of money.
I doubt you will, the price is rising as we speak.

What do you guys use to sell your ETH? I still have mine on coinbase, but they take a 1,5% fee upon a successful sale

Monero is the only truly fungible cryptocurrency available and now people are getting caught on DNM through Bitcoin. Monero is the answer!
praisemonero.org/

Your ethereum wallet needs to sync. This will take hours for you, maybe even days. If the wallet is taking too long to sync, google how to use geth in command line or terminal to speed it up

ETC or ETH?

you bought etc and send them to an eth wallet. you don't have it any more.

All you need to do is sync up an ETC node, and have the "ETH" key in your keystore.

No, you're looking at it wrong. Ethereum will be the platform cryptocurrency controlled by banks - which will ultimately be rejected. While bitcoin will remain free from centralized banks. Thus China PBoC will adopt it and that's where Bitcoin becomes the better long term investment due to the sheer numbers of chinese.

What are you expectations on eth for the next month and this year?

I just invested when it was on 13,6€/coin, but not sure if it's still worth buying if it gets any more expensive

Probably correct, but i don't see a reason for it to keep steadily raising in the next time. It feels more like a huge risk to still be investing in it because there are better alternatives tbqh

Maybe but BTC was announced as legal tender in Japan and the Philippines b/c I think that they are trying to get it circulated within their economies before China officially makes the announcement. Also, once it gets taken by the masses then people will be buying the satoshi cents since the whole bitcoin will be too expensive to buy into.

1k to 10k is roughly 10x the current cap., so about 160 billion.

the Peoples Bank of China will adopt bitcoin? what a moronic statement. bitcoin fags need to stop breathing. ethereum to the moon.

That's why they are cleaning up all of the exchanges

Buying some come payday (Salarycuck)

I'm also mining smaller cryptos and trading them in for ETH and some occasional BTC

That's why they are cleaning up all of the exchanges

so the central bank of china is about to adopt bitcoin? is that what you're sitting here telling me in all seriousness? you need to stop putting crack cocain on your cornflakes

if this is the kind of delusion driving the Bitcoin bubble it's due for a SERIOUS correction.

it's fully (or at least much more) fungible than BTC. when you understand the significance of this you realize that there's a small but significant chance of it overtaking BTC in the long run. I have $25,000 USD in btc typically (but recently liquidated back to USD at 1150) and i have $3,000 USD invested in monero. I might buy more but I don't want to exceed a few % of my net worth on things this risky.

Think of all the hype that bitcoin got when it was launched. A huge % of this was because it was anonymous and fungible. We have since learned that there are a lot of caveats and asterisks to my previous sentence. Monero was created to solve these problems, and indeed seems to have done a good job.

It is also not new, so you aren't buying a pump and dump or total shitcoin. You're buying a top 5 market cap coin with a clear differentiator that is indeed very important.

Yes, they are going to. They are already spending big money on fiber optics to build out their information infrastructure to the rural farmland regions. This is to get everyone on a cashless monetary system in order control their massive population. Getting all of the people of china on a cashless society will ultimately give the government more control of the population. And with that objective in mind, why in the world would the chinese government adopt a crypto currency that is controlled by the likes of JPMorgan Chase, Credit Suisse, UBS, and others? Bitcoin does not have this leash, which is why the Chinese will ultimately adopt this form, because it gives them sovereignty from the centralized banks.
I think Ethereum will still appreciate somewhat, but once China comes out with bitcoin it won't be able to compete. The US is on an economic decline and the ball is in china's court at the moment.

in my mind comparing ETH to Monero or BTC is much apples to oranges; they seem to have very different utilities and value propositions.

Having said that, I would love to hear anyone tell me what the fuck ETH is currently actually being used for other than speculation. I'd also love to hear what you think it will be used for in the future. I'm a pretty big geek but I just don't see it -- it seems too far ahead of its time. Everyone involved in ETH other than using it for speculation has an autism level of over 9000.

Monero on the other hand is very easy to understand. People want to evade capital controls and buy drugs. That use case is easy to comprehend is as old as time.

If anyone here convinces me that ETH is a good buy I'll pick up another few thousand USD worth. I have about a grand in it (more or less accidentally).

What is a decent exchange that works with both BTC and ETH?

check your wallet balance at this site until your wallet syncs. I did this and also waited and lo and behold the funds appeared like normal. Have no fear ethereum to the moon senpai!

Buy 1 Bitcoin and put the remainder in ETH

Why would any sovereign state adopt currency it cannot control?

When I say adopt, I mean accept it as legal tender within their society. And they will want to do that to participate in the global economy. Which is why they are working very hard to clean their exchanges at the moment. Maybe eventually they take BTC in as a reserve, who knows. But the Chinese government absolutely want to get on crypto because it's a big task to control a population of 1.3 billion people on a daily basis. And say a rural province starts rebelling, it's then a simple matter of cutting their internet access then the people are powerless. I'm sure the chinese government will try to push out their own version of Ethereum but it too will not work due to the global nature of our economy. The only crypto currencies that will work globally longterm will be the ones that are not tied to a central banks. Because it allows for the greatest number of sovereign countries to participate. Then it becomes a numbers game - which country acquires the most bitcoin will have the most lending power in the future.

>what the fuck ETH is currently actually being used for other than speculation
How about bitcoin? I will not argue BTC is purely speculation, but nevertheless how much volume is actually real goods and services?

>Monero
How do you get into monero without being tracked down? It all starts by fiat currency conversion which you cannot do undetected unless you do it by cash (good luck with that).

Kraken

>adopt BTC to be able to participate in global economy
China literally lives from export, they have been participating in the global economy massively ever since Deng Xiaoping came to power

>Chinese government absolutely want to get on crypto because it's a big task to control a population of 1.3 billion people
Okay, first, millions of households in China live on under $4 daily, but sure, let's buy em all internet and online wallets
Second, if you want to have tight grip over your population, why not just convert your own fiat to digital only? Other countries, including India, are already going towards this.

What did you mean by this?

Can someone explain me this wave?

You are correct, most Chinese will not be able to afford a whole coin, they will buy deci-bits and mili-bits. But the chinese government can afford many coins and can use it as a hedge against the dying global reserve currency the USD. And when that happens, the chinese government can invest these coins within each province as a store of wealth that they can lend against to the world. Then they don't need to deal with the mess of being the world reserve currency. While simultaneously significantly boosting the wealth of each province.

As a casual nocoin Veeky Forums lurker, I must admit, these ETH threads show the least autism levels compared to other coin threads.

Just crackin down on fractional reserve system trading and hypothecation of bitcoin
ft.com/content/415bf86c-ef67-11e6-930f-061b01e23655

>mfw people think that this private version will somehow impact the regular version
lolz

>Monero on the other hand is very easy to understand. People want to evade capital controls and buy drugs. That use case is easy to comprehend is as old as time.

zksnarks is coming out in the next 12 months, which will replicate the anonymity of monero, plus the increased liquidity of ethereum will lower the spread against fiat

you're saying a crypto can't work if it's involved with a central bank, but that china will adopt it as a reserve currency?

china already is mostly cashless, they use weibo pay for everything, adding an additional layer to transfer to fiat doesn't provide a good for the average transaction

there's going to be a lot of programmers working on solidity for jp morgan and microsoft