So what exactly is ethereum standing on?

Poloniex

thx senpai

No u

Dumb negro

Atleast i gave op a decent answer which i copied from redditos

Reddit eth echochambers are full of delusional moonkids, everyone is sitting on their eth for muh profits without actually doing anything with it

Not sustainable

What about the DAO """""""hack""""""""" though? You really think Microsoft is going to risk their business by trusting some faggot's cryptocurrency. And for what minor benefit?

>That's a good idea. I have some idea of what shorting is but where do I find a broker? Do I even need one for cryptocurrency?
I use Poloniex for altcoin margin trading
and Kraken for XBT/USD.

You don't need to buy the coins you want to long/short. Instead, you borrow them implicitly.
For instance, I deposited 2.5 BTC to Kraken when BTC was at 930 USD/BTC,
and bought about 7 BTC using my 2.5 BTC as collateral for the USD loan.

You can even use stop-limits on margin trades although I'm not sure I have that 100% figured out and they're not guaranteed to trigger, AFAIK.

Another option is to offer your ETH for loans.
Low risk, low but guaranteed return.

blockchain and essentially the suppression of reconciliatory functions in traditional jurisidictions in fiat currency

A large consortium recently surfaced over the last few years with some solid backing from multinational players in the industry, to answer your question ETH serves as a gap filler in areas of application where uncertainty prevails, for example buying real estate or land in a third world country where the law and currency don't have much relevant backing on an internationally accepted level and standard.

Nice one

This is what I don't understand. I was under the impression that banks and other companies (Facebook and other private messaging networks?) would develop their own propriety blockchain systems. What advantage is there to them using a public system?
I mean also the currency element, which I know makes sense in incentivizing shared server time, makes these systems volatile and far more vulnerable to tampering/hacking than a proprietary/walled garden system.

I dunno, I'm not a programmer or banker or anything which is probably why I'm confused.

It's primarily a matter of whom you trust.
Cryptocurrency core is everyone is bookkeeping to keep people from changing data like giving themself a billion bucks.

A currency hold up by a single company is just a question of do you trust them with your money?

Wait, is ETH not going to go up?
It seems pretty stable these days, literally always 48-51 USD, so is it not likely to go up?

It will never go back down to 30 again.

>It will never go back down to 30 again.
Dogecoin did

Dogecoin was a meme though and didn't have any intrinsic qualities that other cryptos had. Ethereum does however

>The ones that don't support my thesis were an exception
Not an argument

>A currency hold up by a single company is just a question of do you trust them with your money?
Because it's not about the currency, it's about the blockchain.
I mean I thought that was the whole point of ETH, the currency is just incentivizing processing the blockchain. The blockchain is the primary function, which might be to transmit information... such as transferring fiat currency, or personal communications, or industrial secrets, or maybe signifying receiving of shipping.

Or have I got it all wrong?

All memecoins support my thesis. They're dump and pump scams, never meant for buy and hold. Ethereum is different because it tries something new

Anyone trying to build something substantial on top of Ethereum is going to have a bad time.

Building on top of Bitcoin would be like building on top of a patch of solid ground.
Building on top of Monero would be like having a concrete foundation.
Building on top of Ethereum would be like adding a few more stories to pic related.

Bitcoin is a dead coin. ETH will make crypto real.

So lemme get this straight

Companies will need Ether to use the Ethereum blockchain.
If the price goes up, it becomes more expensive to use.
The price going up literally creates an incentive not to use it.

Great investment, chaps.

Ethereum is inflationary.

>What is currency
This isn't stock you fucking dummy, it's a currency. Rules are completely different.

youre fucked have fun losing money

Yea, for now. So is BTC. And Eth has a plan to stop inflating in place already....the amount of misinformation about ETH on this board is staggering. It's gonna be hilarious when the new companies joining in are announced in April and price moons.

>People use ETH to host and sell their services
>This makes the price of ETH greater
>Now nobody uses the services because they're too expensive and you can't change them

Ether is to be treated as "crypto-fuel", a token whose purpose is to pay for computation, and is not intended to be used as or considered a currency, asset, share or anything else.
ethereum.org/ether

microsoft

another meme victim

lol, yep that's a quick rundown on the business model

BTC is limited to 21 million coins.
There is no such limit for ETH

>strawpoll.me/12629825
>strawpoll.me/12629825
>strawpoll.me/12629825
>strawpoll.me/12629825
>strawpoll.me/12629825

Learn more

I love all these cryptocucks have absolutely no idea how it works but are still trying to refute you.

Each instruction you can execute has an amount of "gas" it costs to run. You write a program, it will cost N gas to execute. When you create a transaction you set the "gas price", which is the amount of ether you're willing to pay per unit gas. The "miner" accepts or rejects jobs based on their cost. So it actually adjusts overtime, based on the price of ETH.

What this gives us is just a pass through gimmick for buying compute time. You purchase ETH for X dollars, you pay for someone to run your code, they won't accept a job below their computation costs to execute that code. You're literally just buying overpriced AWS credits backed by a 'crypto' database.

Just like Bitcoin, people will buy ETH if they "need" to use it (I don't see why they would though), spend the ETH, the person getting the ETH will immediately cash it out into their base currency for fear of fluctuations. Such a fucking joke.

youtube.com/watch?v=OG3WMaWwJig

KYS

You literally have no idea how Ethereum works. Eth fags are fucking retarded. You are describing something closer to Golem Token. Ethereum does not work like you think it does.

Its standing on memes

...

and the fact that the debt based system of the 20th century is crumbling all around us. Just look at the populist movements around the world - shit doesn't work. You can't create infinite money out of thin air, then lend it to your buddies to create jerbs, except instead they look for 10000% unicorns. There just arent that many unicorns, and the good ones dont need a lot of people (whatsup had ~30 engineers).

Trump is standing on memes

>So in a future world where Microsoft, Intel, Cisco, Red Hat, JP Morgan, et. al. have streamlined their business and automated a bunch of different processes through smart contracts, they're going to need a constant supply of ETH to continue running that code.
One does not follow the next. Considering the number of crypto currencies there is and how seemingly easy it is to make one, why would they bother with your digital monopoly money when they can make their own, or continue to ask for actual money?

which do you trust more?
1. trust in an public chain, where you can see all transactions and be sure you dont get scammed?
2. trust in a private chain of a big company?

btw second bitcoin etf is a no.. so why isnt the price falling?

How about the almighty dollar? There's no transaction history and yet it's still trusted. And who's to say they can't make it public? Also, the failed ETF did cause bitcoin to tumble.

The biggest army in the world is backing the US Dollar. Your memecoins are backed by the equivalent of Nigerian email scam artist on Veeky Forums.

Everyone knew it would fail. It was already priced in

If you want to see real gains, trust me and buy some LBC.

You will see a huge pump tonight on this.

Screencap this.

and the US government is backing eth in order to control cryptocurrency instead of china

keep your xrp fuck

Remember all those failed currencies. Litecoin, Dogecoin. How much has Veeky Forums lost so far?

p.s. You can't even turn your shitcoins into hard cash without withdraw fees.

>ETH is required to be used as gas to pay for smart contracts. So in a future world where Microsoft, Intel, Cisco, Red Hat, JP Morgan, et. al. have streamlined their business and automated a bunch of different processes through smart contracts, they're going to need a constant supply of ETH to continue running that code.

Interesting. Can you give me an example for a process and a corresponding smart contract? It sounds mighty abstract. I want to understand the actual utility to the companies.

MORE COMPANIES ON BOARD THE ENTERPRISE ETHEREUM ALLIANCE - APRIL ANNOUNCEMENT!

All the people talking shit are just trying to put it out of their mind. They missed an opportunity. In the future, their hearts will explode when they see how far this goes.

By all means explain then.