For the noobs around, Ether is a (ridiculously scarce) form of money that can be directly exchanged by computing time in an incorruptible worldwide computer. Now, let that sink in. Do you know anything more valuable than computing in nowadays world's? Neither do I. Now think about the value of running programs in a worldwide neutral computer. Can you even fathom how much valuable that is? No, you do not. It is beyond what you can comprehend.
Fast-forward 5-10 years from now, when big companies such as Google or Amazon make a partnership, deal or anything, where do you think they'll put that agreement? On Amazon's computers? On Google's computers? Will it be a paper contract (LOL)? No, it will not you dummy. In the age of information, such agreement will be a fucking contract on the Ethereum network, because that's the most obvious and neutral place for it to be. Ethereum is the rising backbone of the internet economy. There will be a point when people talk about it just like they talk about UDP, TCP, HTTP. Now, realize every single major company, government in the world will be doing the same thing. They all need Ether for every single fucking thing they do. The Ether that is in your hands right now. So, again, do you even know what you're holding?
"Why didn't you sell your Ether and buy later on, hurp durp" - because I'd fail, like you did, dumbass. The market is optimized to take Ether away from people like you and me. You don't even know, but there is an a file for your trading behavior someone else's database, analyzed 24/7 by state-of-art machine-learning algorithms. That's what you're fighting when you trade. If I sold, chances are things would play differently. There is a reason I have a fuckton of Ether. What goes in my cold wallet do not get out.
>Ether is a (ridiculously scarce) until vitalik decides to make more
Zachary Smith
>He thinks I'm buying his bags.
Adam Foster
what?
you talk like you could just write a Hello World program in C++, executing as fast as the best machine you can buy, and deploy it to the blockchain. but that's not the case at all.
Evan Harris
Illiterate cunts won't be able to grasp this concept.
Let it fucking drop and I will buy even more.
Brandon Collins
>incorruptible Hahahaha. They literally forked the protocol when their friends lost money in the DAO.
Hudson Smith
>Do you know anything more valuable than computing in nowadays world's
In no particular order:
Gold Food Oil Lumber Marketing Infrastructure
All of those things have much more value than computing. Ethereum is great, but let's not get carried away. I'm also starting to think you have no idea what the User Datagram Protocol is or does.
And no every government in the world does not "need Ether for every single fucking thing they do". That's a ridiculous statement as the government's have all been fine without Ethereum and will continue to be fine without it.
Charles Parker
>baghodlers in 2017
enjoy the ride to 0 on your incorruptible networkd
Kevin Jenkins
>For the noobs around, For the non-finance experts around
> Ether is a (ridiculously scarce) form of money Ether is an artificially scarce (made so by its development team) file on lots of computer
> that can be directly exchanged by computing time in an incorruptible worldwide computer. For now, until PoS kicks in.
>Fast-forward 5-10 years from now, when big companies such as Google or Amazon ... copy/paste the Eth code and launch their own coins.
> In the age of information, such agreement will be a fucking contract on the googlecoin or amazoncoin or goldmancoin network
>What goes in my cold wallet do not get out. exactly, thats not healthy dominant currencies function.
Ryder Cruz
nice just bought 100k
Gavin Hall
You guy realize a private Blockchain has no use other than tests right?
Leo Taylor
>I just want you to sell so that i can buy all of it at the dip ftfy
Luis Martinez
>Le hard fork face
William Perez
Define "fine"
Nolan Brown
>You guy realize a private Blockchain has no use other than tests right?
are you that myopic? most of the Ethereum Alliance are using a /private/ blockchain amongst themselves to solve actual problems using Ethereum code.
you realize that before facebook there existed this thing called orkut or myspace or whatever BS social media sites. you realise nokia was early pioneer in mobile phones? you're like the guy that invested in pets.com before the dot com crash... how could it go so wrong?
fast followers eat first movers lunch in tech... and they don't even need to be that fast. first movers are good for ironing out the kinks in the underlying technology before someone comes along and takes it to market viably.
Lucas Anderson
>Marketing
Gavin Lewis
>Marketing
Noah Cooper
How much do you think the world spends on marketing every year? How much do you think they spend on computing?
They are doing "every single fucking thing they do" without Ether right now. That's my definition. You're also a faggot. Go fuck yourself faggot.
Jeremiah Nguyen
>how much valuable that is? Pajeet pls
Zachary Lee
Think about this, the internet came to disrupt the business of postal services, newspapers, tv stations, film studios, record labels, and many others, those are all huge industries no doubt about it, but compare it with the businesses blockchain technology is going to disrupt. First of all is banking, on its own banking is larger than all previous industries combined, the top 50 banks hold over 100 trillion dollars in assets. Then you have legal services, registries, contracts, intellectual and property rights, etc, this is also worth trillions, probably bigger than all businesses disrupted by the worldwide web. The we have international trade which is huge, also a several trillion dollar business, and it's going to be totally disrupted by the blockchain. Insurance is another industry that will be totally disrupted. And those are only industries that already exist, new huge industries will be created from scratch, like social media was created recently. Think about the internet of things to mention one, and how many other industries we haven't even thought about.
The crypto market is going to be worth way, way more than it's worth today, probably hundreds of trillions.
Jayden Gonzalez
a private blockchain is just a glorified intranet
you are like those retards that doubted internet because no one would benefit or like it, only companies would use it in form of an intranet
a company like facebook might have their own private blockchain for intern use, but if they want to reach their costumers, they will need to use some kind of public chain, unless they want people to run their nodes like a regular chain, but then it wouldn't be private anymore
Ryan Baker
>incorruptible
DAO says hi
Putin says hi
Hey Vitalik, do that thing to ETH blockchain or you get polonium'd
Jaxon Harris
This whole post is exactly why Bitcoin is going to go to zero within the next few years.
Andrew Gray
this user got it
multiple companies knows that blockchain technology is disruptive, which is why they are making alliances with ethereum and iota right now
once this crash is over, and bitcoin starts to get its shit together, then we'll return to normal
but one thing for sure, PoW coins are dead and will always be dead, no one wants to deal with greedy gook miners anymore after this crash they are causing
Jose Martin
>unless they want people to run their nodes like a regular chain
Who the fuck is going to run a 5000TB Ethereum node for home use nigger?
Literally a retarded solution to a problem that doesn't exist.
Adrian Walker
vitalik can't just roll back his blockchain as he pleases
Nearly 95% of all miners agreed to roll back the chain, and the users also agreed with him on it
unless you think the dao hacker should have been allowed to take even more millions of ether out of the supply?
that's like saying you shouldn't stop a rape, because the rapist is black, he dindu nutin and it would be racist to intervene.
Parker Nelson
nigger faggot, this is where sharding and state channels comes in, read up on it
the size will be fractions of what it is now
and its literally only 84gb now, whilst bitcoin is nearing the 300gb
Matthew Diaz
where do you think they'll put that agreement?
What is a Lawyer What is a Bank
Jordan Watson
>sharding
What is vaporware?
How many people are actually using Ethereum for its intended purpose to justify the 84GB blockchain? The only thing that was close to real use for Ethereum was that one scam ICO which brought the whole network down to its knees.
Jacob Green
nope, same guy responding here...
you're missing the point... look how commercially successful novel IPX was, or X.25, or ARPANET was if we're going to run with your analogy.
infact, just because BSD4.0's TCP/IP became the defacto standard didn't mean Berkley made any significant money from it... despite every commercial OS using it today.
even if you shifted your argument to domain name registrations or whatever, look how well that turned out commercially for IANA? My point is tech backbone infrastructure first movers generally only survive if they de-commercialise and become a benevolent foundation types.
You'll need much more compelling arguments against a scenario of a subset of: Google/Amazon/Microsoft/Facebook/Apple consortium that creates its own megacorpchain/coin for the benefit of locking in customers.
Noah Rodriguez
why would they bother to make their own chain, when they can make ethereum private chain forks for intern use, and use the public one when they have to?
Eli Powell
Why would Google used ethereum , of which the majority is owned by Vitalik , when they could just make their own fucking ethereum network , especially considering the code is open source?
Ryan Nguyen
>For the noobs around, Ether is a (ridiculously scarce) form of money that can be directly exchanged by computing time in an incorruptible worldwide computer.
Ethereum is changing into Proof of Stake, so no more computing power
Hunter Thompson
>tech backbone infrastructure first movers generally only survive if they de-commercialise and become a benevolent foundation types
That's exactly what the Ethereum Foundation is, along with the EEA. Yes, Ethereum Foundation members hold Eth, so they're making money at the same time, but it's in the same sense as if IP developers in the early years had shares of a telecom index fund, i.e.: it's adoption that will make them money, rather than direct sales, licensing, and so forth, because they have part ownership of a resource that is used to operate the system.
Carter Clark
shut the fuck up, pajeet. take your losses like a man.
Gabriel Murphy
Because there you will see on a daily basis the emerging tech and projects that transform the old economy. HODLers are not dreamers, they see a reality emerging in front of their eyes. You must take an interest and understand ENS, Prediction markets, decentralized exchanges, trustless economic interactions, distributed storage, distributed computing, IoT, driverless cars, distributred energy grids,... then you are better informed about the future and you are ahead of the curve.
Chase Cooper
It's not so scarce. ETH is created at a constant rate every year. Bitcoin is way scarcer.
Liam Rodriguez
>why would they bother to make their own chain, when they can make ethereum private chain forks for intern use, and use the public one when they have to?
errr, because ethereum blockchain is basically controlled by a russian kid and no institution is going to assume it will stick around as-is for any reasonable time horizon.
>Yes, Ethereum Foundation members hold Eth
not in any meaningful sums... copy/paste the code and run as a joint venture co or trust... you'll see. saw the same thing with Markit group when ibanks bought up positions in Markit and gave their data to them, only to be sold back to the same ibanks... delusion if you think core banking transactions are going to be journaled in any way shape or form onto the current public blockchain.
Carter Cruz
by this logic we should all invest in eos
Landon Morgan
>Now think about the value of running programs in a worldwide neutral computer.
WOW THAT SURE WOULD BE VALUABLE. I SHOULD BUY ETC: THE CHAIN THAT DIDNT FORK TO INTERFERE WITH A CONTRACT
Christopher Phillips
>For the noobs around, Ether is a (ridiculously scarce) form of money that can be directly exchanged by computing time in an incorruptible worldwide computer.
do you really believe this shit you fucking retard?
Landon Cook
>by this logic we should all invest in eos
EOS, jesus no...definitely not, if you followed my logic strictly it would be just wait on the sidelines until a dominant technology emerges with commercial viability. of course no one wants to hear that...
instead of the 99% that go broke holdling and trading shitcoins, in the future the 1% that make anything meaningful by gambling today will think they we're right all along without realising theyve been fooled by randomness. enjoy!
Jaxson Adams
Lmao
Adrian Perez
I'm confused... Whats the correct answer?
Angel Robinson
>(((Google))) >(((Amazon))) >Incorruptible
Except you forgot the part where Google is a juggernaut of technocommunism, engaged in heavy revisionism and censorship of the truth, and leading the march against European peoples worldwide.
Amazon engages in censorship and lowest-common-denominator tactics with a Jew at the helm.
>Following pressure from the World Jewish Congress, Amazon announced that it had removed from its website the aforementioned T-shirts as well as "I love Hitler" T-shirts that they were selling for women and children. After the WJC intervention, other items such as a Hitler Youth Knife emblazoned with the Nazi slogan "Blood and Honor" were also removed from Amazon.com as well as a 1933 German SS Officer Dagger distributed by Knife-Kingdom.[72]
Ryder Powell
>>(((Google))) >>(((Amazon))) >>Incorruptible
no one said they were incorruptible, only that people long since gave them the keys to their personal kingdom's, including facebook, apple et al... so trusting them to run a blockchain is a non-issue for the majority of the population. the only people that would take objection to this are the cryto/cypher-punks that built and adopted blockchain as a tech in the first place... remember when anonymity was a goal? the exchange have the same or more personal info on you than your banks LOL
Hudson Diaz
Etherium computing costs are nowhere near competitive. If you want to undercut the market, just start up a server farm like amazon or google. They charge a small fraction of anyone else.
Jordan Martinez
>Ether is a (ridiculously scarce) form of money
It is not money, dumbass.
Charles Stewart
Yeah nigger try doing that. No one is going to trust your shitty server farm because it is centralized.
Oliver Gonzalez
ROBOTS TOOK MY ETHEREUMS I BEEN DISCRIMINATED AGAINST I WANT REPARATIONS FUCK THE ROBOT POLICE
Owen Butler
>Yeah nigger try doing that. >No one is going to trust your shitty server farm because it is centralized.
i'd rather that than the fake-non-centralised BTC which is actually controlled in practice by chinese miners voting rights.
works fine for a young russian kid who in practice controls the protocol... didnt like what happened with DAO... ok cool let me just git push to reverse that transaction, everyone follow me.
Jacob Gonzalez
Shes extremely gorgeous
Jose Sanchez
The computing costs are not competitive because they have the added benefit of reliability (you can't change your code once it's out there) and transparency (all parties can see the code and confirm that it does what it should do). If your computations do not need these features, then any other way of running your code would be better.
Jacob Diaz
The whole point of a blockchain is that you are protected from "90% of retards want to do this or that so we took your money because muh democracy".
Julian Garcia
Why are you using bitcoin or any other cryptocurrency then? If, for any of these currencies, more than 50% of miners decide to take your money, they can do it.
Jack Rogers
What eth foundation did after DAO invalidates any claim of reliability or immutability. This is just bagholder talk not rooted in reality.
Henry Fisher
Nah... they do that all big holders move to another chain, another algo, and the miners lose their hardware investments. The market also crashes so the stolen coins become worthless. This is the genius in bitcoin. It uses greed to create something useful.
Ayden Cruz
Since it's mildly related can we talk about OmiseGo? Why the fuck have there been zero threads on it? It was just added to Bittrex and nothing.
What in the literal fuck is going on?
Landon Richardson
BRRRAAAAAAAAAAAPPPP
Asher Myers
So you're saying that the community chooses the fork that they prefer and lets the other one die? Wow that's exactly what happened with Ethereum.
Jason Butler
WHERE DID YOU GET THIS PICTURE OF MY DAUGHTER'S THICK ASS!??!?!??!?!?!?!?
Christopher Perry
People also spend a lot of money on dragon dildos, doesn't mean it's a valuable resource
Kevin Powell
That's literally what determines value though.
Hunter Morris
If you ever tried to program anything for Ethereum yourself, you'd realise the environment is so clunky and development is so disorganised it's more likely a company will step up to develop a better version of it at some point.
Nobody wants to spend days to download 50gb of blockchain that have to be stored on a SSD and install a bunch of dependencies that break half of the time to get a "hello world" program going. Ethereum takes the hacky, barely holding together culture of 21st century programming and amps it up to eleven. It's a world computer alright, only you're forced to use WindowsME.
Ethereum has first-mover advantage, which should buy it two years before a worthy competitor comes out and secures enough adoption to supplant it. Ten years from now? Better hope this initial adoption will leave too many people emotionally involved for the price to hit rock bottom, because there WILL be better products by this point.
