Hint: Ethereum is not recovering for well over a year, if ever

Hint: Ethereum is not recovering for well over a year, if ever

Its first bubble follows BTC's first (big) bubble almost perfectly.

>ETH HAS FAR CHEAPER TRANSACTIONS THAN BITCOIN!

Yeah, because ETH has CRAZY HIGH INFLATION. Miners will mine empty blocks just for the rewards

reddit.com/r/ethereum/comments/6kfvrq/discussion_of_eip186_implement_block_reward/
>1) Block reward for Ethereum mining is extremely high, far larger than the current block reward for Bitcoin or any other cryptocurrency (likely for all other cryptocurrencies combined).

reddit.com/r/ethereum/comments/691hes/i_have_a_dream_that_the_ethereum_community_will/


With Bitcoin, if you just keep your coins in your wallet, they inflate by a very low %. Inflation is at 3% currently, and it's halving every 4 years until it reaches 0%. You know exactly what rate your coins are/will be inflating at. A large sum of the miner's earnings already made by people who are actually using their service (transferring coins). Yeah this means transaction fees are much higher than they are with Ethereum, but the overall payout miners receive is still infinitely smaller than it is with ETH.
With ETH, the 'miner fee' is just invisible (your coins just keep being worth less and less due to miners creating more and more out of nothing) and paid by everyone regardless whether they actually using the miner's service at all.

Other urls found in this thread:

youtube.com/watch?v=wLaI7680I4w
github.com/ethereum/EIPs/issues/649
twitter.com/SFWRedditImages

>Proof of Stake is coming! It will solve the inflation issue!

Yeah, good luck with that. Have you actually tried using GETH's RPC? Have you faced the bugs it has (e.g. its most basic transaction synchronizing options) Have you actually tried writing an application for ETH? Its API and overall software background comes nowhere near BTCs'. Have you looked at the last ETH dev conference call?

youtube.com/watch?v=wLaI7680I4w

Several dozen developers from all around the world, trying to synchronize their work. There hasn't been a single successfull software development project with a background like that. All core ETH software is full of bugs if you try to go beside the most basic usage. While they have plans, they won't be able to implement anything for a loooong time, if ever. ETH is going to stay as it is right now for a very long time.

yup. deal with it, eth fags. you'll be lucky just to tread water between 200-300 for the next year lmao.

btw, transaction fees and times are much lower now than they were a month.
After the attackers stopped.

Nice post OP. Are you 100% in on bitcoin or do you have alts you like as well?

Hi I'm new here and what is Mt. Gox?

Dat's some solid technical analysis you got there OP.

Are you a wizard?

>btc had multiple paradigm shifting updates anr didn't moon

ayyyyyyy lmao

eth is ded XDDDD buy bitbean :DDDD

Here's the thing...there's no way to mine Etherum that I've seen.

Dude what

it's literally nothing like the first BTC bubble

Seems likely.

I'm tempted to consider longing on BTC, but it's just the worst moment ever, might embrace lazyness and procrastinate half a year before considering it until the waters get calm.

I was actually expecting more volatility after btc new peak, but it seems more moderated and following a new pattern, still, I'm gonna just watch it fow now

>Hurr durr muh charts look similar.

Pic related will moon soon, i'm HODLing. Beanie babies too.

>Comparing different asset charts with no understanding of the events governing the movements.

OP is confirmed retarded.

Bitcoin pumped and crashed for over a year because of Mt Gox therefore your pathetic attempt at pattern recognition is moot since it is not at all the same.

This. Even I think ETH is in for a sustained bearish run but OP doesn't know what the fuck he's talking about.

wait this chart looks very similar to the one that the dgb fudder was spamming everywhere, and we all know how that turned out

are we in for one hell of a ride, boys?

Shorthand for Mount Gox

>ETH has cheaper transactions than bitcoin because of inflation
No. And it's retarded to talk about ETH inflation without mentioning that it's going to significantly decrease because of ice age, without even talking about PoS.
>Have you actually tried using GETH's RPC? Have you faced the bugs it has (e.g. its most basic transaction synchronizing options) Have you actually tried writing an application for ETH? Its API and overall software background comes nowhere near BTCs'.
>Several dozen developers from all around the world, trying to synchronize their work. There hasn't been a single successfull software development project with a background like that.
You don't know shit about software development.
>ETH is going to stay as it is right now for a very long time.
Correct.

>spouting le tulip meme

sarcasm and actually being retarded dont mix well

Nah, the dump wasn't at all parallel. BTC has already dumped by the time Mt. Gox stopped processing withdrawals.
Also, the Gox hack removed a ton of Bitcoin from the circulation, if anything, it had a net positive effect on the price for anything above 3 months-term.

Blaming it on Mt Gox isn't a significantly better excuse than blaming it on the shutdown on Silkroad. Saw multiple posts here claiming BTC crashed because of Silkroad, when at the time Silkroad was shutdown, BTC's price was $120.


Yeah, by the way, the Mt. Gox hack was done through transaction malleability. A 'glitch' (or a property of the protocol) that nobody recognized for 4 years.
Now, Bitcoin has an infinitely simpler protocol, it doesn't try to be anything beside a currency, much unlike Ethereum's overcomplicated mess (that actually has no features of actual use beside being a currency regardless).
Ethereum is extremely likely up for more DAO-like glitches in the future.


If you'll be affected by it, you'll be up to the graces of Vitalik, whether he'll split the network again, for you (and create Ethereum Vintage)


>No. And it's retarded to talk about ETH inflation without mentioning that it's going to significantly decrease because of ice age
LOL. Ice Age.

github.com/ethereum/EIPs/issues/649

>vbuterin commented 5 days ago
>... This will delay the ice age by 42 million seconds ~= 1.4 years, so we'd be back at 30 second block times at the end of 2018.

It was supposed to start hitting the network now, because more than a year ago, when they 'hardcoded it', they thought they'd be ready with Casper by now, but it's fucking nowhere.
And that's because their development model doesn't fucking work. At the end of 2018, they'll just delay it by 1.5 years again.


>You don't know shit about software development.
Perfect arguments, can't refute them bro.

>>ETH is going to stay as it is right now for a very long time.
>Correct.

Glad you agree (was talking about the state of the protocol/software btw, the price, of course, is gonna TANK)

>Yeah, because ETH has CRAZY HIGH INFLATION. Miners will mine empty blocks just for the rewards

The inflation rate of ETH is growing at half the rate as 2012-2013 BTC

Inflation for a digital platform/gas system doesn't have the same effect as the inflation of a currency

>You don't know shit about software development.
>Perfect arguments, can't refute them bro.
1. You're saying that a program in development has bugs. And by the way it's a type of program that has never been done before.
Ok. That's normal and means literally nothing. Why did you think this was an argument that meant anything?

2. You're saying that dozens of programmers not in the same physical location cooperating on a project has never resulted in a successful project.
So you haven't heard of Linux, Firefox, and other big open source projects? And you're not aware that tons of programs use open source code, resulting in cumulatively large amounts of people indirectly contributing to the project? You're not aware that programmers on the same team typically work on different parts of a program and then combine those parts? Your statement is absolutely fucking wrong and retarded.

>1. You're saying that a program in development has bugs. And by the way it's a type of program that has never been done before.
>Ok. That's normal and means literally nothing. Why did you think this was an argument that meant anything?


I didn't point out the fact that GETH is full of bugs to back up the claim that their development model is bad.
Every software has bugs.

I pointed it out because they can't even make the current system work correctly. They're going to need a LONG ASS time before they can make an even way-more radically new system work. There aren't even test networks for Casper yet, it IS going to take an awful lot more than those additional 1.4 years they're just allocating, based on their current pace.


>So you haven't heard of Linux, Firefox, and other big open source projects?

That's entirely different. Both Linux and Firefox have a strong core developer teams, nowhere near as fragmanted as Ethereums'.
Most of the benefits Linux gets from being open source is that _USERS_ contribute back to the source code when they change the system to fit their needs.
It's more comparable to DAPP developers contributing back to the Ethereum source when they make a change to it that their specific application needed. It's okay if that part is fragmented, but without a strong core, they are not going to get far, IMO.

>The inflation rate of ETH is growing at half the rate as 2012-2013 BTC

BTC's inflation NEVER grew. It was and will be always decreasing.

ETH's inflation will grow fast after the current ice-age delay is committed.
But the thing is, nobody knows exactly what ETH's inflation will be at any point in the future (and that's assuming they don't make more changes to it), because it's not a fixed rate.