Ok, let's face it... ETH is a shitty coin which only promises of future uses. Lot's of companies are investing in this meme but yet no one has been able to find a use for it.
The only thing ETH has shown potential for is to create ICO's which is the dot com bubble 2.0
My advice is, press S to spit on grave and get off the failing coin now that you still can.
You've been vitalik'd.
Other urls found in this thread:
github.com
coindesk.com
twitter.com
I agree OP. I too wish to keep the price down until my next paycheck clears.
>nobody has been able to find a use for it
>new companies forming on it literally every month
>It's used for trading almost as much as bitcoin, which is shit
ETH should have a far, far higher marke cap than BTC. Fuck off with your idiotic shit.
Where is the serious analysis?
feels bretty gud that nocoiners are starting to get salty over ETH as well
Oh yeah, you can use it for """"SMART CONTRACTS""""" which is the new name for PROGRAMMING.
Inside a vending machine you have a smart contract, you enter a dime and you get a coke. WOW! A smart contract... yet nobody has thought something that cannot be done with an oracle database in a cheapper way than with this ether/gas/blablablah shitty thing. Be real... price is OVERVALUATED.
ETH is due for a correction, wait for that before spurting doom and gloom for maximum impact.
Oh and i forgot:
S
>ETH is due for a correction
every time
ETH is still worth thousands of times more than Bitcoin.
>the code running on a coke machine is also running on the coins that come out for change
haha
you're not very bright are you
>has a huge attack surface due to Turing completeness
>companies will be using their own private blockchains
You call that post a "serious analysis on ETH fundamentals?"
Bahahahaha. 3/10 only because I lold.
Eth has won the blockchain game. Pack your little shitcoin bags up and get the fuck out
>he thinks current gen cryptos are the future
>he thinks ETH won't moon
>he thinks big companies take this shit seriously
Damn man, it feels great to be balls deep in pre-pump ETH. You must be either a coping shitcoiner or, even worse, a filthy nocoiner.
no companies are investing in ethereum, that would be fucking insane. theyre all experimenting with smart contracts of which ethereum is the largest platform of. none are going to use the public chain to run code on, and none are going to invest heavily in ethereum just to pay for the privilege to run their contracts on the public chain with all of its availability and stability issues.
ico's are just altcoins within an altcoin, more pump and dump potential and at the end of the day thanks to exchanges theyre treated as their own coin as no end user ever sees them on the ethereum blockchain, just as a balance in their exchange.
just because something is more complicated that something else doesn't make it worth that many times more. by that logic there are coins that are worth 10x whatever ethereum is worth.
>wont moon
>pre-pump
poe's law at its finest.
I don't trust ETH since the DAO hack & fork.
Turing completeness means we'll eventually see another hack, imo. Not a good store of value.
>none are going to use the public chain to run code on
github.com
You do realize that public blockchains are what makes crypto so secure and immutable?
>nobody has thought something that cannot be done with an oracle database in a cheapper way than with this ether/gas/blablablah shitty thing.
Decentralized drug market is the only application
>we'll eventually see another
THIS.
coindesk.com
Eth is just going to experience hack after hack. Security problem after security problem.
or anything else where you want to keep identities secret, i.e. just about everything
why should someone know that I bought a coke from a coke machine or why should the FDIC be able to see my intra-institutional transactions?
because the first hack totally destroyed it, right?
You fork and move on.
Next time I would probably not reverse the transactions but to be fair the delay was built into the contract for that very purpose.
>why should someone know that I bought a coke from a coke machine
Why does it matter?
>why should the FDIC be able to see my intra-institutional transactions?
Why would you use ETH instead of btc or monero?
>secure and immutable
didn't work out for ethereum though, and another exchange fucked up and threw away 14 million in ether yesterday too. public blockchains are useful for passing value around in a decentralized way, most of the "apps" built on ethereum either move tokens around or require outside information or interaction, or worse promises from another centralized company that needs to be upheld. theres few decentralized applications being built that arent just another abstraction layer around value tokens.
the smaller "startup" companies will develop things for the public chain, but thats just so they can get ico money on the promise that whatever theyre building will make money for ico holders, accumulating eth they need to dump in the process.
>Haha it's OK if we get hacked! it will inevitably recover
Maybe that shit slid when Eth was still a baby but why do you think people would let them get away with it again?
You put the MO in FOMO user. Get back to that there cash register at Sbarro's and quit the sage
It absolutely tanked the price for months.
Imagine right now if news got out that Bitcoin got hacked, all the normies invested will lose their shit and the price would absolutely plummet.
That's what will most likely happen to ETH at some point.
You've got to ask youself if the potential gains outweight the risks.
Bitcoin is shit. It has no redeeming qualities. ETH isn't. Not more complicated, just better. What's complicated is why any moron would choose to dump money into BTC at all when ETH is just a step away now.
desu, the huge attack surface worries me, but eventually someone was going to come up with this idea.
At least the Ethereum devs seem serious and committed.
>Why does it matter?
Because the whole world doesn't need to see what I'm buying. I know that's the shitty world we live in right now but it doesn't have to be that way. We can start with Coca-cola but we can extrapolate to all sorts of shit, like pink dildos and expensive dinners with my mistress.
>Why would you use ETH instead of btc or monero?
see >another exchange fucked up and threw away 14 million in ether yesterday too
has nothing to do with the ethereum technology
that exchange literally fucked up on every security level
>public facing root
>password authentication
>no white or blacklisting IP ranges
My shitposting laptop is better secured than that exchange was.
>the smaller "startup" companies will develop things for the public chain
Silicon valley is doing just fine and it's like 98% shitty startups. It's held together by the Fortune 500 companies, just like Ethereum alliance.
>hacked
It wasn't hacked. It was fair game and everyone holding ETC believed as much. Regardless, going forward it's best to fix and fork.
>why should I have to install windows updates? why isn't windows secure now and forever? windows will never succeed with this model.
yeah it tanked because there was a hard fork. That only matters if you are trying to get rich off investing in ether. It doesn't affect the underlying technology at all though if the price goes down.
It's hard for people with autism to understand what gives Bitcoin it's value.
In your mind "Faster! Better tech! More features!" should equal more value, like when you're shopping for a smartphone.
But what is giving Bitcoin it's $2500 price tag isn't cutting edge tech, it's tried and tested tech.
Bitcoin has been around and strong for almost a decade and experienced no security problems, it's starting to feel like something that's somewhat safe and reliable, that's why normies are really starting to warm up to it.
in the end I think both will succeed
Bitcoin as a sort of a pseudo-gold standard for wealth storage and a ledger for second-layer payment mechanisms and ethereum for widespread blockchain technology adoption
bitcoin isn't "shit", and if thats your investment DD then you've got a long way to go in this space. doing more without a reason to do so isn't useful, this is how software like windows ended up in the mess it's in. piling bugfixes or consensus exceptions for bailouts on top of an already poor performing vm isn't going to make this platform very stable in the future, unless it barely changes. complete rewrites are already off the table, thats what a competing ethereum "2.0" currency would be for.
and again, there's yet to be anything built on ethereum that's truly decentralized whilst also being more useful being on a blockchain like ethereum that isn't just an abstraction or layer above transfering value. and you can do this without the useless tokens, they're just there to make the creators of the tokens rich, that's all.
it has everything to do with the technology when there's a much larger attack surface and an order of magnitude more way to fuck up when using it.
the "startups" with their ico pump and dumps are whats causing this huge alt/eth bubble. the ethereum alliance is nothing more than a bunch of teams within companies exploring the smart contract space. if you think that means theyre going to be dumping money into ether tokens or moving their core infrastructure to an unstable public blockchain you're sorely mistaken.
>Bitcoin has been around and strong for almost a decade
Feel old yet?
sell all your ETH now!
it's only going to dump in June
screencap this
Re: security, I heard they're working on higher level languages that compile to solidity, and also something about correctness verification. These problems are not intractable.
>and you can do this without the useless tokens
how do you incentives nodes then?
the bigger picture is bitcoin has a whole load of technical issues that stem from one issue: adoption. no other alt is going to be able to sidestep these issues when they come up against them, at some point youre going to have to make the decision to store some transaction off the blockchain or you're going to end up with a system thats impossible to run in a decentralized manner.
and all of this doesnt even matter because right now the alt bubble is warping the perceived value of each of these blockchain projects, because people assume price = worth when it's all down to moonchasers and speculators with a few snake oil salesmen trying to lure them over to their corner.
*incentivize
Interesting point but I still can't quite wrap my head around why anyone would use it over any other coin, even just Litecoin, except for the value of its brand. You're right and I see your point though.
People associating it with safety makes sense, but I think as an investment it's still very risky, like it's not really standing on much.
useless tokens being ico coins not ether itself, ether is a necessary incentive system for ethereum to work, but ico tokens aren't. they either represent artificial scarcity which is pointless for a token that itself exists inside ethereum, or they're restricted because they represent something that exists outside of the ethereum blockchain which is a finite resource, and therefore has the same issue of centralization some non-blockchain token has.
and of course the core of this is that they really only exist so companies can sell you their ico tokens to make money.
t. Faggot with 2 months crypto experience
I don't really care about icos to be honest, other than the incentives they bring to mine ether
they are still too immature to really come to a conclusion one way or the other
Alright you got me. 3 months experience. What am I missing about Bitcoin?
It feels like the old dinosaur should be gradually replaced by something more feasible.
BTC has the lowest monthly returns on Poloniex and whenever I want to make a transfer I just use ETH or Ripple when it's available. I get that other people might like BTC for its security, but it just doesn't make sense as an investment. Storage in BTC seems like a good idea though, and BTC needs to remain stable, sure.
>it's still very risky, like it's not really standing on much.
hahahahahah. stay poor, retard. you just keep playing with your crayons and slurping applesauce through a straw. there are no words to fix your broken brain.
i dont see ico's being incentives to mine ether, most of them are even more speculative than ether itself. most of these tokens are bought traded and sold completely outside the ethereum blockchain to begin with anyway.
Well you have to consider what people are using it for, most people are using it as a speculative or safe-haven asset. Like an alternative to gold.
Obviously it's shit for micro-payments and if I wanted to move money around I'd use something else.
Maybe that will change if they manage to solve this scaling deadlock and implement the lightning network.
theoretically they should perform some function that requires ether
I'm not talking about the self-mining coins but coins that serve some actual purpose outside of themselves
Again, I'm not claiming that they will actually perform some function or do it well but if they do it will require ether to execute the contract
they require ether only in that ether is whats used to pay for tx/processing fees, but no ether changes hands when these tokens are traded on echanges, which is where 99% of trading occurs. the vast majority of these tokens currently do nothing of use or represent something that may or may not be built in the future. ico's are only driving up the price of ether due to speculation.
>durr whats the point of btc
It's the most secure computer network on the planet by orders of magnitude.
>shit tech
>shit dev
>shit community who will support rollbacks when >shit dev fucks up
eth is a stillbirth
>ico's are only driving up the price of ether due to speculation.
Kickstarter still makes a ton of money despite 98% of its products being shitty vaporware.
What it boils down to for me is that, yes ethereum is speculative, but there are much dumber things to speculate on. Even if one of the ICOs takes off, it will solidify the ETH network. The interest in developing technology (or just the illusion of technology) for ETH specifically is proof enough to me that it will outperform other smart contract blockchains. Every time it gets mentioned in the news, its inertia steamrolls, which is what currently makes BTC so valuable.
So ICOs, even if they are shit, are still positive for three reasons:
>advertising
>defining use cases
>potential long-term use of ether
It's just hard for me to view them as any type of a negative when the U.S. is basically run on the same principles emanating from silicon valley.
if they fix covert ASICBOOST, I will agree
Until then, even ETH has over 3x as many nodes as BTC, and 60% of them aren't in China
Still waiting for the application that is based on eth and offers something that traditional tech doesnt offer FOR COMPANIES that actually do useful stuff including banks.
Saying bitcoin is old tech is like saying tcp/ip is old tech... so what? We dont go forcing turing completeness on the tcp/ip protocols we can just build stuff on top of it. Because it werks.
>Serious analysis on ETH fundamentals
I'm an IT professional and willing to seriously discuss this btw
What about quantum?
Been out of the loop for a while so gonna read up
it's a mechanism for banks to transfer funds internally and also keep an anonymized ledger of the transactions on the public ethereum blockchain to conform to FDIC regulations
Right now the FDIC has access to all bank customer information and their account holdings. This would allow banks to disclose the value and money movements of their accounts without giving up the account holder information
If the FDIC gets a warrant then they can contact the bank and get that specific account holders info from the internal blockchain but they won't have unfettered access to everyone's info like they do now
Are you talking about Qtum? I'm not that hot on smart contracts in general, the point of running a company is control over resources, processes, including code. Seems like only useful for fringe applications (thats why i asked my initial question).
But it's a hypeword so on the speculative side I wouldn't know. Depends on the hype and professionalism of those involved.
sorry, spell check took quorum to quantum
all coins have shit fundamentals. they're mostly for financial speculation at this point
From pro to pro: If a company wants to use blockchain tech they can implement it themselves in a week or so.
Why should they rely on a bunch of russian nerds?
>Implement your own coin
>put something of value on the chain
>get 51% attacked
Why should they use btc? Hashing power
Why should they use eth? lol idk.
that kid is ugly as fuck
>calls himself a pro
>doesn't understand blockchains
The whole point of a blockchain is to create a secure ledger. How do you have a secure ledger? By decentralizing it. If a company is running its own blockchain, it's only as secure as the people working in that company can make it.
Not to mention there are other legitimate uses of a public blockchain like where the public facing portion is part of the allure of the protocol itself
Daily reminder that since this post was written, the price has dropped from 0.09370000 to 0.08990002 and continues the slow bleeding. Pic related.
The pump of ETH price the past few months smells like a way for whales to accumulate BTC from weak hands.
>muh bitcoin is shit
If we were to speak solely about technology, maybe, maybe not. However, you have to understand that investments are based on human emotion, they are subjective, not objective.
Let's pick video games for example, there's companies that make truly great, well crafted impeccable and innovative games without any bugs and yet, their game don't sell that well. On the other hand, some copy pasted, bugged and shitty games sell millions every year, see EA.
Why is that? Because things don't have a strictly value, their value is assigned by the people. You can spend ten years crafting the most beautiful wood sculpture of all time, but that doesn't mean people will want to pay even a dollar for it, it will be as valuable as people believe to be.
Now, Bitcoin has value not because it's the best crypto in the market, it has value because it gives a sensation of security and safety to people. It's the only currency that you can actually use outside of exchange/market sites, it's the safest currency and has been around for 8 years now. BTC has value because it proved to people that's a secure and stable currency in a VERY unstable market.
You faggots have to understand that technology isn't the only factor to take into account when investing, not even close, most people who invest in this market know jack shit about technology. Take human emotions into account and you will be a much better investor.
that's because btc is rising, and it doesn't mean much since eth decoupled from btc about a week ago
eth/fiat is basically flat, which is actually pretty impressive following such a huge rise
I think $200 is the new floor.
S
turing complete smart contracts can not be proven to be secure so no financial institution will ever use it. it is therefore nothing but an unscalable shitcoin that lets you run undecidable programs for a price.
>dumping money into something you don't understand that was literally designed by a teenager that literally has already proven to be insecure via the DAO hack
when it crashes back to $20 it's going to be the biggest 'wtf was i thinking' moment of your life
>no financial institution will ever use it
The network has value, after enough people have joined. Like you can also build a facebook clone in a week but the value is the network.
Making bitcoin king and this also gives eth a little value imo. But the turing complete bs feels like a huge liability imo.
>JP Morgan's testbed for their own private blockchain is proof that ethereum isn't a shitcoin
they'll never use ethereum dude
S
But that sounds like nothing changes except government has to wait a little bit longer (or not even really) for info they request.
Also gov and the big banks are in bed anyway? Banks gladly hand over small fish now and then and gov gladly protects big fish in good standing? Who's getting value added here?
Phone crashed got new ID
>bitcoin has value because it bypasses the banks. be your own bank.
>hey guise I made a new blockchain and the banks love it, that's why it's going to moon!
fucking normalfags. get out of my cryptospace. i bet you don't even program.
Just from a money perspective: the banks involved have literally infinite fiat money to pump into eth.
Thats why im fearful of shorting it.
>own private blockchain
do you have the mental capacity of a 5 year old? You might want to read their white paper one more time.
>Who's getting value added here?
Those rich faggots running the banks and the politicians have to keep their money somewhere too you know.
Ethereum has made some really great innovations in the blockchain world. It's really one of only altcoins that has any real value besides trading. However, the hard-fork after the DAO hack violated one of the fundamental rules that makes Bitcoin so great: transactions are immutable. I'll put my money on ETC.
So you think theyre building their own little digital cayman islands?
What's the difference with a bunch of sql db with encrypted data on it only jp knows how to access? With an api for some commands built in for clients?
Why even use blockchain if all nodes are 1 party? Really weird...
The point is that the entirety of it is executed on the machines that use it.
Do you understand the idea of decentralized? Do you understand how useful the ledger alone is?
This desperate anti-ETH campaign has been pretty funny lately. BTC is really going to die soon if people are shilling this hard. Topkek
I don't really see the connection between smart contracts and blockchains. Private banks have enough cash to use their own distributed databases. The whole thing just seems like a scam to raise money for smart contract research.
S
Use different wallets to make those transactions. You can wash your own coins just as easily. Nobody would know you were using them unless you were under a heavy investigation. It wouldn't be any easier than to check camera footage.,
did you read about quorum? the public blockchain is the whole appeal of it. You have a public ledger for the FDIC to sift through (as well as the security of a decentralized ledger) while providing your clients with anonymity. This is a perfect example of a bank leveraging blockchain technology as an added-value feature while still remaining a centralized bank for the shekels.
>Private banks have enough cash to use their own distributed databases.
Yeah, you are right...this "blockchain everything" is a fucking meme.
A distributed database works almost as good as a blockchain and can be setup easily.
Fucking damn. This is all a big scam. All of these ICOs, all of these "decentrilised" technologies...there is nothing really there!! In most cases a centralised technology works just as fine!
I cannot wait for the inevitable alt crash to show all you
It's because rich managers love buzzwords and cutting edge research. If someone offered you a huge salary to write ms paint on the blockchain you'd do it.
Luckily crypto doesn't have actual experts vetting it like real industries so the bubble can continue for a while longer (maybe even years). The only blockchain with value is bitcoin and monero. When sidechains become a thing monero probably dies too.
>In most cases a centralised technology works just as fine!
Yep. A decentralized drug market is legitimately the only DAPP that seems to have any purpose.
There is no anonimity if the FDIC can still request the data....
I dont see the added value of copying your inhouse books to a public blockchain anonimized... they could just leave that out.
Am I wrong to think eth will dip to 150's again and then go well above 250?
lmao so the rearch JP Morgan did was just to ensure anonymity for the billionaires? meanwhile the peasants will have every transaction logged and automatically taxed.
bwahahah this was just them checking their asses incase blockchains catch on. they have no real interest in it.
never trust these megacorp banks. if they endorse it, it's garbage.
SSSSSSSSSSS
Hahaha alright buddy. Keep holding your .05 BTC thinking it's going to make you a millionaire. BTC is antiquated shit
Yes. It isn't going below 200 again senpai.
they can't leave that out because that is what the government requires them to share
Yeah agree, and I rode/ride the wave.... but also hoping for some actual useful products to come out of this... like nitcoin itself.