ETH is the grandest scam in crypto

Garbage Can Lid
Garbage Can Lid

A lot of people are thinking "holy shit why didn't I throw 10k at this in the winter"

I'll tell you why:

centralized
ETH team bailed out the devs when they lost $55M due to incompetence. This means they changed the natural progression of the blockchain and nothing is stopping them from doing it again.

muh ETH alliance
Much like the XRP bank alliance, the ETH alliance is made of companies, who are using ETH source code to develop private blockchains. In return, ETH gets to show off brands and retards like you buy it and drive the price up 1000-fold. Companies are not getting on the public ETH blockchain and they never intended to.

not capped, premined and 90M+ coins minted
ETH does not have a hardcap for the coins like Bitcoins. This means there is not a limited supply. As you collect your precious Ether, miners are going to mine a shitload, dump it on the market and keep the price low in the long run. ETH had a huge premine, which means Vitalik and his buddies could dump any moment. And finally, the number of coins is quadruple the number of Bitcoins. Which already makes the effective price of ETH around $800 compared to Bitcoin. Not counting inflation.

But don't listen to me, listen to Buterin. Who am I after all?

Other urls found in this thread:

reddit.com/r/ethtrader/comments/4gc85v/my_calculations_on_what_price_vitalik_sold_his/
ethgasstation.info/calculator.php
youtube.com/watch?v=DkUpZkeqhF4

Spamalot
Spamalot

yeah fuck eth i hate money

massdebater
massdebater

the guy looks like a bond villain

that alone is reason I don't trust eth (but I have .95 of it soooo)

Playboyize
Playboyize

ETH team bailed out the devs when they lost $55M due to incompetence. This means they changed the natural progression of the blockchain and nothing is stopping them from doing it again.
This is the only part that worries me. ETH can be changed on a whim. That means everyone's money is not under their control.

DeathDog
DeathDog

Noice. Let's hope he scams every fucking normie before dumping.

Illusionz
Illusionz

nocoiners trying to defend their decisions to opt out of 2000% ROI

I cashed out most of my ETH two days ago when I thought it peaked, the rest can crash to 1 cent for all I care, but at least I have nothing to regret except for not buying more last year.

Booteefool
Booteefool

Who cares I've already cashed out my original stake just playing with profits now

MPmaster
MPmaster

also don't forget that Vitalik sold 1/3 of his ETH at 20$ because even he didn't believe ethcucks were stupid enough to pump his shitcoin

SomethingNew
SomethingNew

That's why always ETC >>> ETH

Oh and buy HALLO it's very cheap and good

idontknow
idontknow

btc shill spreading FUD
surprised you're not promoting etc
unless you take eth through an exploit, your eth is safe

Playboyize
Playboyize

They have done an excellent marketing campaign, I'll give them that. The frenzy is real.

Deadlyinx
Deadlyinx

Source?

Emberfire
Emberfire

I think ETH is groundbreaking technology but the people who say it will replace bitcoin sound like someone saying "oil will replace gold!"

ETH is great as fuel for decentralized applications, but it's not something that would make a very good, reliable store of value.

Alot of people who don't really understand the technology, along with autists who don't understand how value works think that because it has more features that must make it a superior store of value.

LuckyDusty
LuckyDusty

considering everything is a scam, from the coins to the bronies who run them, to the community that tries to rip each other off as hard as they can, i'll be okay with whatever happens, whether $1MM btc or a giant asteroid reducing this planet to dust. trading cryptocurrencies is like a nigger stabbing you so he can rip the sneakers right off your feet, over and over every 10 minutes.

FastChef
FastChef

unless you take eth through an exploit, your eth is safe
How can my ETH be safe when the developers can just revoke them like The Dao scandal?

Stark_Naked
Stark_Naked

This means they changed the natural progression of the blockchain and nothing is stopping them from doing it again.
They only restored the money that was on a hackers account, which he couldn't withdraw for 30 days minimum. That's literally nothing and ETH was really small back when. If something like that happens now 100% they're not going to do this shit again.

using ETH source code to develop private blockchains
Not true. Some of them - yes, others make dapps on ethereum pubic blockchain

not capped, premined and 90M+ coins minted
Not gonna argue with that. That's the only thing I don't like about eth.

miners are going to mine a shitload, dump it on the market
they're moving to POS, which makes them more interested in holding and accumulating

girlDog
girlDog

once eth starts going down its going to burn
there are too many premined coins
too much uncertainty in it's future
too centralized

great people made some money on it, but it isn't going to stick around for long with so many fatal flaws

haveahappyday
haveahappyday

You're ETH are safe in the hands of the developers, don't worry. You just need to trust them like you trust your bank.

The wonders of decentralization!

5mileys
5mileys

centralized
ETH team bailed out the devs when they lost $55M due to incompetence. This means they changed the natural progression of the blockchain and nothing is stopping them from doing it again.
lmao what? The decision to revert was decided by a majority of ETH miners. This same thing that can occur on literally any blockchain.

muh ETH alliance
mfw you didn't actually read anything about EEA objectives, which include interoperability with the public bloclchain

not capped, premined and 90M+ coins minted
a cap is in the works, not to mention that it becomes literally a non-issue anyway once PoS rolls out

2/10 got me to respond

likme
likme

C O P I N G
O
P
I
N
G

TreeEater
TreeEater

ETC has more practical value than ETH
and even still it's uncertain if it's a practical implementation for a decentralized computing network

Carnalpleasure
Carnalpleasure

are you people actually dumbfucks or is this thread intentional FUD rofl. Devs can't unilaterally make that kind of decision.

Skullbone
Skullbone

reddit.com/r/ethtrader/comments/4gc85v/my_calculations_on_what_price_vitalik_sold_his/

why would they though?
btc had a hard fork because of an exploit that you're conveniently forgetting

TalkBomber
TalkBomber

hackers account

There was never a hacker. The guy didn't attack the DAO, just withdrew money following some broken contract clause the dev team had setup. The dev team couldn't swallow the loss of $55M and they fucked the blockchain.

DeathDog
DeathDog

it's an anti-ETH thread

Now I've seen everything

Good effort, but lacked conviction. I r8 0.8/8

Also
centralized

TechHater
TechHater

This thread is full of cuckcoiners who bought at ETH and now you're all butthurt because of the recent correction. Buy the dip or hang yourself. I'll be sippin champagne with Vitalik in my moon Lambo in the meantime.

Spazyfool
Spazyfool

who bought at ETH
should be "who bought at ATH"

Dreamworx
Dreamworx

ETH CLASSIC
T
H

C
L
A
S
S
I
C

5mileys
5mileys

harsh but fair user

Flameblow
Flameblow

It's useless OP. Ethcucks will only understand why ETH is a shitcoin when they see it's value in dollars tank and never recover. They will always be one step behind. In the meanwhile much better solutions are coming out, especially for the corporate world whose dick ethcucks like sucking so much.
Also lmaoing @ the people saying "muh POS". Sorry to burst your bubble but that's never going to happen, because Vitalik has no idea how to accomplish that without fucking up the eth blockchain.

TechHater
TechHater

60 million premine
12 million given to developers
90 million + mined
60% premined claims it's not centralized
but PoS!? that will help out centralization LOL
no solid plan on when to go to PoS/no working PoS designed or being tested

I can keep going

Lord_Tryzalot
Lord_Tryzalot

So don't buy any. What's the problem?

massdebater
massdebater

"no solid plan on when to go to PoS/no working PoS designed or being tested"
mfw you can literally just follow its progress on the ethereum github

Methnerd
Methnerd

People keep claiming it's the next big thing
I want to tell you what I think and present facts of how it's distributed

CouchChiller
CouchChiller

how's it going what's the timeline?

also how it this good for the network when devs/premined coins dominate the stakes?

ZeroReborn
ZeroReborn

Thanks for sharing your opinion user. But it's wrong.

FastChef
FastChef

bond villain

Try Russian meth addict, that seems more on par.

viagrandad
viagrandad

the stats are correct
but the opinion who knows it shocks me eth made it this far

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

kizzmybutt
kizzmybutt

Stay poor, user. You literally have no idea what you are talking about.

The private blockchains interact through the public Ethereum ledger. Why would all these companies in the EEA reinvent the wheel when they are coordinating to develope the same protocol? That would make no sense, and the recent, organic growth in the price of Ether demonstrates investor confidence, corporate or otherwise.

BunnyJinx
BunnyJinx

BTC did a similar roll-back, the other fork died instantly, unlike ETC, because BTC is EVEN MORE centralized than ETH

Companies are building private side-chains, not entirely separate networks like Ripple. There is value is interacting with the public blockchain, there is no value in interacting with the public cripple network

Not an argument. ON NOES ETH MIGHT ONLY 4x IN PRICE WHILE BTC GAINS 50% IN THAT TIME SPAN!!!1

lostmypassword
lostmypassword

Toyota won't buy up overpriced Ether, which Joe Shmo pumped to 50x with his maxed credit card. They will use a private ecosystem, which has been stated very clearly over and over. Same with XRP and banks.

Bidwell
Bidwell

As far as the main ETH blockchain, maybe Joe Shmo's hoarded 5 Ether will indeed move it today, but in the long term, the devs have to make sure there will be enough Ether for the network to move. The principle idea of ETH has inflation embedded and it's clearly stated on the website. It's not a speculative asset that will get rarer and rarer over time, but just FUEL, that is meant to be burned away for transactions on the blockchain. Which means the price has to be kept down artificially (or the supply up) or the network dies.

CouchChiller
CouchChiller

Companies are not getting on the public ETH blockchain and they never intended to.
really?
Can you give me more info on this?

farquit
farquit

if they follow the example of jp morgan Quorum, then the transactions on the private chain STILL GET VERIFIED ON THE PUBLIC CHAIN just in a form that lets their contents stay private. This is great fud and all but read the whitepapers . Private eth chains aren't bad from what I can tell

Carnalpleasure
Carnalpleasure

Lots of companies involved in the EEA are planning on building their own private blockchains. They have their own method of forming consensus so they don't need POS/POW. Also, privacy reasons.

However, for interacting with customers and other companies there's still a use case for using the actual Ethereum network. Think intranet vs internet.

TalkBomber
TalkBomber

It's not a FUD.

Ether is not worth 200 bucks, nowhere near it. The network cannot be hardcapped like Bitcoin, especially if they're expecting legitimate corporate traffic. Bitcoin manages to (barely) get away with their shitty blockchain, because the network doesn't see real financial traffic, just people stashing (hoarding) and withdrawing coins as a speculative asset.

If the Ethereum public blockchain saw the corporate traffic of all those companies they are advertising put together, the network would keel over in 1 day, considering how much the fuel is being hoarded and how much of it is available (and for what price). For any kind of acceptable and affordable performance, they need to give an incentive for the hoarders to let go of their assets or simply introduce more Ether to the ecosystem. The last choice is what they have unofficially gone with.

CouchChiller
CouchChiller

Yes, the idea is that ether will become more valuable as the network becomes more valuable (the value is basically the computability platform, and all of the other tokens and dapps running on it). However, there value will end up stabilizing around how valuable and expensive the dapps are to run, and how much people are willing to pay to run and use dapps. At the current state ether is overvalued since the network isn't that valuable (I don't know of any valuable dapps yet, do you?), but who knows, the network is growing and growing, as we can see with all of these ICOs that are built on top of ethereum... and they cost gas to run. If it reaches critical mass and starts displacing massive amounts of existing infrastructure, the price of gas goes up, BUT when it gets too expensive the less people start building on the ethereum network, then the price should go down. I think its right that they haven't really capped ether yet, since they need to keep the price down so people adopt the platform more to build dapps (which in their vision is what is valuable)

Apart from the ether price, part of me wonders if the ethereum VM is really just oversold and not very useful, and that blockchains are basically just useful as a store of value (bitcoin). Since ether as a tradable token is basically a better version of bitcoin in many ways, and since ether is being used as such, and there aren't any valuable dapps, maybe ethereum should just be a bitcoin replacement. If that's the case, then ethereum's value should be in the token, rather than the network, in which case it should be capped, or at least have some schedule built in (like inflation rate, etc). If dapps prove themselves to be valuable, then the price of ether should come down in the shorter term.

The economics at play here are pretty amazing. Ethereum is so open, that I think the devs may have designed something that's not being used in the way it was meant to be used.

w8t4u
w8t4u

ETC was a great buy for me. It's propping up my other bags so overall I'm still close to where I was 2 days ago.

Most alts are struggling.... iT'll be interesting to see what happens after this

LuckyDusty
LuckyDusty

BUT when it gets too expensive the less people start building on the ethereum network, then the price should go down

There is literally nothing in place to make this happen. All people see is 90M corporate fuel tokens in existence until the rest of eternity, I can get one, I will be rich. Due to the pseudo cap, which lures in more investors, the network is utterly disabled before it ever even got going. As long as Ethereum is hoarded, it will never work. As long as there is a cap (even a fake one) on the amount of Ethereum, people will always hoard. This means the price will keep going up, in the meanwhile crippling the network, even if it's dogshit in practice.

King_Martha
King_Martha

And did I mention, the corporate traffic is not even on the public chain. It will be the shitcoins, dapps and Joe Shmo's exchange transaction that get dicked as a result.

Carnalpleasure
Carnalpleasure

Right, but when the network is crippled people won't want to use it anymore, then people sell ether, price goes down, network becomes cheaper to run and starts performing better. It's a delicate balance of incentives, and I think people are too thick to understand what ether really is at this point. I admit it took me a while.

SniperGod
SniperGod

In the mean time my monthly mining profits have tripled . Literally doing nothing and collecting $2400 a month.

Supergrass
Supergrass

when the network is crippled people won't want to use it anymore, then people sell ether, price goes down, network becomes cheaper to run and starts performing better

Do you even realize how retarded this sounds? What corporation will run anything on a network that performs on this principle? Oh yeah, they don't even intend to.

Did I mention Ether will still be hoarded even if the network completely stops working completely because muh real life partyhats and muh smart contract revolution?

WebTool
WebTool

did you cash out any eth yet? Mind to share screenshots?

Nojokur
Nojokur

You don't realize that eth is the apple of cryptos?

Why do you think they partner with so many reputable brands?

It's to appeal to the average person.
ETH is a good investment, even if you don't like their practices.

Inmate
Inmate

Yes, which is why in my post above I said that ethereum may just end up being used as a better bitcoin, which is basically how its being used now since the market is deciding that. That's not the dev's goal though, so they are stuck between market demand and their project goals.

As far as ethereum being a crippled network, any blockchain is fucking expensive to run in terms of money and computing power. That's the tradeoff of blockchain and consensus. You get decentralization and security at the expensive of money, performance, and ease of use.

Sometimes I wonder if bitcoin is the only good use of the blockchain, and the other projects are just trying to jam a square peg into a round hole.

VisualMaster
VisualMaster

the ethereum technology is appealing to these brands, not the eth. Can you explain to me how the value of eth is vital to the ethereum technology?

ZeroReborn
ZeroReborn

Until people recognize what is the point of using a slow-ass blockchain versus running proprietary software on your servers if it doesn't have immutability.

FastChef
FastChef

this fucking post is too accurate.the community will fuck itself before half of us can make it to lamboland

viagrandad
viagrandad

Oh my god, you people are so fucking stupid. Yes, this is the model of most sucessful open source companies. So what? How do you think linus makes money on linux when his product is free? How do you think Mozilla makes money when firefox is free? Jesus christ, its like you fucking idiots know nothing about tech business/startups because you are all children.

I don't know why I even bother coming here.

haveahappyday
haveahappyday

Redpill me on ETC

Crazy_Nice
Crazy_Nice

Same fundamental flaws - Ether the fuel of the network is hoarded and vaulted away by randoms as a speculative asset, making the network slow and expensive.

Even less people are interested in actually using the blockchain. It's also behind ETH in development and the (reddit) community has even more influence over the future of the coin. But overall it's less of a shitcoin and especially with the recent shilling wave, it (the fuel) is still grossly overpriced for what it is - essentially a prototype for what could be useful technology in the future.

hairygrape
hairygrape

here you go

JunkTop
JunkTop

Holy shit, I hate ETH now.

takes2long
takes2long

What I'm going to say is pretty technical, so not many people know this.
Running smart contracts costs gas. Gas is not Ether, and it's not a fraction of Ether (gas is not Wei). Ether is used to pay for gas.

Miners charge people Ether based on the gas cost of a contract. The value of ether that is transferred from the smart contract owner to the miner is governed by the laws of supply and demand. If a miner spends X gas (X computational power) to execute a contract, they can ask for Y worth of ether. Note that the value of 1 whole Ether (200$) is completely irrelevant here, because a miner can ask for whatever amount of Ether in USD is a fair price for X computational power.

Example: 1 gas worth of computational power is worth 1$ (numbers simplified for convenience). We have a contract that costs 10 gas to execute. The miner executing the smart contract will ask for 10$ worth of ether. If Ether is currently worth 200$, the miner will ask for 0.05 ether. If ether is worth 5$, the miner will ask for 2 ether.

I hope you now understand that the price of 1 Ether doesn't actually matter that much.

Spazyfool
Spazyfool

great people made some money on it, but it isn't going to stick around for long with so many fatal flaws

Cool, are you shorting it?

Bidwell
Bidwell

There was never a hacker. The guy didn't attack the DAO, just withdrew money following some broken contract clause the dev team had setup. The dev team couldn't swallow the loss of $55M and they fucked the blockchain.

Ok, if you want to play that game

There was never a bailout. The Ethereum devs did not force a split, just proposed a fork which majority of the miners followed in consensus. The ethereum community swallow the loss of $55M and they forked the blockchain.

See how that works?

Techpill
Techpill

I can keep going

Please keep going.

Sharpcharm
Sharpcharm

checked n kekd

BlogWobbles
BlogWobbles

In the meanwhile much better solutions are coming out

What solutions?

TurtleCat
TurtleCat

I actually didn't know that, I mistakenly assumed gas = wei. Thanks for clearing that up, it makes me feel better about ethereum

VisualMaster
VisualMaster

It doesn't matter how many terms you throw in, the basic principles of a blockchain remain the same.

The less ether available for the userbase, the more the miners will charge for the gas. And expensive gas is already a major problem in the network's infancy. Throwing in another variable does fuckall except make it more complicated for the dumbass investor to follow.

BinaryMan
BinaryMan

The less ether available for the userbase, the more the miners will charge for the gas
nigger can you not fucking READ ENGLISH
FUCK

StrangeWizard
StrangeWizard

Are people ITT seriously trying to shill ETC?!

Don't fall for these bagholder tricks.

Nojokur
Nojokur

literally obsolete, u gonna get dumped on

SniperWish
SniperWish

On this page you can see how a certain amount of gas can cost different amounts of ether, which affects the transaction confirmation speed. The fast/average/cheap prices are what miners charge based on supply and demand.
ethgasstation.info/calculator.php

StonedTime
StonedTime

Ether is not worth 200 bucks, nowhere near it.

So are you shorting right now?

Harmless_Venom
Harmless_Venom

You are the definition of headass.

Soft_member
Soft_member

No, because I have no idea when the greater fool realizes it's dogshit.

massdebater
massdebater

price of gas is suddenly expensive
price of gas hasn't yet adjusted to the new ether price
gas price and ether price don't have a correlation

Duped again.

Carnalpleasure
Carnalpleasure

I'm sure that the ethereum creators and investors are willing to subsidize the network to grow, right?

SniperWish
SniperWish

this.
shhh, eth holders have to meme eth taht it will surpass bitcoin. There is a lot of money to be made out of the suckers. Can't wait to sell my eth for 1500$

Ignoramus
Ignoramus

The amount of FUD and shitcoin PnD shills around here is incredible. These fags can all go fuck themselves

Inmate
Inmate

Holy fuck, you literally ignored everything I wrote. Just because there's private blockchains, doesn't mean they won't operate with the LARGER AND MUCH MORE SECURE public Ethereum blockchain upon which all other blockchains are standardized and based.

DeathDog
DeathDog

BTC is EVEN MORE centralized than ETH

New_Cliche
New_Cliche

Thanks for posting, based user.

I wish these faggots had actually read the White and Yellow papers before spreading fallacies and confusing the public.

Soft_member
Soft_member

Don't worry, in about three years I'll use my ETH to power an autonomous noose-making factory with a smart contract that automatically delivers them to every no-coiners house to they can finally out themselves out of their misery. I will Kek extremely hard as my autonomous drones send me feedback on the live-in hangings, which I will watch from the comfort of my self-driving Lambo.

Snarelure
Snarelure

OP

ETH is a scam

Me

6000% return on my initial investment

StonedTime
StonedTime

have 100 ETH and 100 ETC
Feels pretty good lately.

CodeBuns
CodeBuns

he didn't believe ETH would pump anymore
If that was the case he would have sold over 50%. There is nothing wrong with profit taking, $20 coins was probably enough for him to live comfortably for the rest of his life.

GoogleCat
GoogleCat

its a scam!

if your interested in becoming rich, dont be this guy

w8t4u
w8t4u

Ok, but you do realise what something is "worth" is decided by the market?

So if you think ETH is not worth $200, please give your estimation of what ETH is worth right now and the logic and mathematics behind this estimation. Thank you

Skullbone
Skullbone

Companies are not getting on the public ETH blockchain and they never intended to.

Not true at all. Many of the companies publicly stated they would be using the public blockchain alongside a private implementation of Quorum.

Good try though, buddy.

VisualMaster
VisualMaster

This means they changed the natural progression of the blockchain and nothing is stopping them from doing it again.

the chance this happens is 0. everyone already knows about the DAO, they wont accept a fork like that again.

haveahappyday
haveahappyday

Gas is the internal pricing for running a transaction or contract in Ethereum. At the time of writing before the launch of Frontier it is fixed to 10 Szabo, which is about 1/100,000 of an Ether.

Ether price is literally pegged to gas price

i-its not ether, it doesn't matter if people only buy Ether to stash it away in hopes it will increase 1000x again

VisualMaster
VisualMaster

They just parrot shit that Berry Shillbert spouts off all the time. They don't actually keep up with the EEA meetups or announcements.

I'm sure they think Toyota, ING bank, Microsoft, Intel, the national Bank of Canada, Mitsubishi and the San Francisco stock exchange are all in on this little 'scam' too. Don't worry. Their cognitive dissonance knows no bounds.

Spazyfool
Spazyfool

Private and public ETH blockchains have as much to do with each other as ETC and ETH. Corporations would like to experiment with the private variety of course.

cum2soon
cum2soon

Microsoft and Steam are both all over Linux. Does it mean anything in real life for Linux? Fuck no. Cognitive dissonance is refusing to acknowledge there won't be a usable product out of this blind money throwing.

New_Cliche
New_Cliche

Did you just ignore what he said entirely? Multiple have already state that they want to participate in the public chain.

Evil_kitten
Evil_kitten

Are you actually this retarded, or just an amazing actor?

Microsoft has already starting funding the creation of supply chain management software and implemented Ethereum tools in Azure. Amazon, FedEx, Target, Home Depot have also gotten in on the project.

Good job dodging the rest of the names I listed and pulling one out of your ass though :)

massdebater
massdebater

Oh. Also.

Developing for/using an operating system != Developing for/using the Ethereum network

eGremlin
eGremlin

Be very weary of that. Alot of large companies are just throwing money at any tech to keep investors happy. It remains to be seen who will seriously take advantage of Etherium.

PackManBrainlure
PackManBrainlure

token
not currency
a distinction without a difference. why the word games? what are they hiding?

Raving_Cute
Raving_Cute

what are they hiding?

The fact that they will mint way past 90M+

It's "fuel" so they can do that

CodeBuns
CodeBuns

what are the odds of a GPU mining rig catching on fire under safe temperatures? i'm fucking paranoid

whereismyname
whereismyname

It's like oil.

Great to speculate on, but you're probably not going to want to keep grandmas life savings in oil.

eGremlin
eGremlin

Yeah

There is no fucking way Ethereum is going to be realized with a hard cap on total coin amount. It's going to need inflation sooner or later.

TurtleCat
TurtleCat

Because "token" is more encompassing. A currency is just a store of value, like Bitcoin is. Ether on the other hand is both a currency and a commodity, because it can be used to power smart contracts programmed in Solidity.

All of this is information and explanations are freely available in the White and Yellow papers, no-one is "hiding" anything.

Dreamworx
Dreamworx

Difference between Ether and gas

Playboyize
Playboyize

Private and public Ethereum blockchains have othing to do with each other

Top lel!

Do you even know what the EEA is? It's main purpose is to standardize blockchain protocol so that their private blockchains interact with the public Ethereum blockchain.

Emberfire
Emberfire

is it really any surprise? once the Illuminati global elite get in on this it's ogre

AwesomeTucker
AwesomeTucker

their private blockchains interact with the public Ethereum blockchain.

Yet no one has EVER done that and even the thought of it would make ETH shit the bed.

Spazyfool
Spazyfool

Why does Ether have any value whatsoever then? This seems like bullshit to mitigate the fact that Ether price and gas price are very closely related. When Ether goes up, the network gets slower and more expensive.

likme
likme

I believe it's up to the miners to decide the price of gas.

So what if Ether was $1 billion each, you could still use it to make contracts. It's the free market, the price would scale, as would the price of gas, hoarding wouldn't matter regardless.

Skullbone
Skullbone

Ether has value as both a store of value, and as a token to power smart contracts on the Ethereum Virtual Machine.

Read the White and Yellow papers if you want to understand these concepts better.

ZeroReborn
ZeroReborn

Your reading comprehension is atrocious if you still do not understand the explanations that have been provided, they were more than adequate for satisfactory understanding of the topic.

CouchChiller
CouchChiller

eth is a scam

Tell us something we don't know

Burnblaze
Burnblaze

But don't listen to me, listen to Buterin.
Good call
youtube.com/watch?v=DkUpZkeqhF4

This is one of the reasons I went into ETH. When Buterin gets asked a sly question of what he would do if he had a quantum computer, without hesitation he answers - open source it. Do you understand the reasoning behind the question and the meaning of the answer? If not, maybe you should educate yourself.

Who am I after all?
Not the guy who made a technology with a 16 Billion marketcap.

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