Friendly reminder that BTC will have network outages every 2 to 3 days for the rest of forever and you should just fucking buy ETH already.
ETH has intrinsic value as a unit of computational power for what will be (after pos and sharding) the fastest computer on the planet.
BTC is a fucking pump and dump that people buy in hopes of selling for more later.
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is this true?
this. If btc is King ETH is GOD. prepare your anuses for next year with PoS and no inflation, were gonna see the biggest moon on the crypto world ever
Yes. biz has known this for a long time until a bunch of butthurt newfags boight ETH at 400 got mad and started spreading FUD against it
Yes, that's a graph of BTC's hash rate.
It's currently in a "death spiral" with BCH after a botched fork. There's supposed to be another fork to fix things, segwit2x, but the BTC core team is literally suing the segwit2x team because of patents.
do we already know how many ethers are going to be needed for PoS ?
Ive been accumulating for this, got around 30 eth worth in crypto now
I first invested 50 dollars in ETH when I first started investing and sold it at 38. Gave up on it. Then Vitalik popped on Veeky Forums, perhaps, and answered a few questions. Then I watched his recent presentation and I have to say. im sold. Put my money back in on Etherium. Its the future.
Yes. Transactions with BTC are slow as fuck, expensive and now are surrounded by miner drama.
he is exaggerating a lot but yes the basic notion is right.
I still dont know if ETH really is the big thing, the price seems to be a bit less tied to BTC than many other cryptos and you can already buy ETH with USD and other FIAT currencies quite easily. I am still on the fence if ETH could hold the current value if BTC crashes.
cant buy drugs with eth tho
I know BTC is fucked now, but you're gonna have to redpill me a bit more on ETH. I've always been skeptical of it
Most alt coins try to imitate ETH, not bitcoin because bitcoin will be obsolete and nothing can be done about it, the best bitcoin can ever hope to be is currency, ETH is a platform with unlimited potential.
network is centralized and full of potential security vulnerabilities
BTC is much less risky investment
not to mention if BTC goes down ETH is doomed
You use small fractions of ETH to do computations on the network. ETH has billions of dollars of research and development invested in it from major US corporations who want to use it.
There is a limit of 100m ETH but each one is infinitely divisible so investors are guaranteed profit as the units are used up during computations. This economic incentive is needed to secure the network.
The algorithm that will be used to secure the network once the 100m cap is hit is called Casper. It's a proof of stake algorithm, meaning people buy ETH to stake it, thus driving up the price even more.
It's like a moon mission with stacked multipliers. Blockstream spread propaganda about ETH after the DAO hack (basically, that Vitalik hard forked the network, as opposed to what really happened with the community and miners agreeing to fork) so the price is super cheap right now and this is basically your last chance before the price jumps 100x to 1000x.
Also, ETH is getting private transactions like Monero next month. That means no taxes!
Pitch me how I convince possible customers to cope with:
- butterins childish behavior on twitter
- past cases of hacks
- ETH being less established then BTC
Also take into account that my customer had heard from BTC and its development, is not familiar with the tech and just want to invest into something solid for the next 2 years.
Just read the white paper. Ethereum is a distributed virtual machine capable of executing arbitrary, Turing complete code. This means you can build complex applications on top of it and pay with ether. Right now, every node has to execute all the code/validate all transactions, but there is development in a solution called sharding which will allow for only a small subset of nodes to execute the code while still maintaining consensus (guaranteeing the code was executed). This is only possible with proof of stake, which is a big improvement over proof of work that eliminates the need for spending computing power and electricity to achieve consensus, and allows for much more decentralization, as all you have to do to make money running a node is already having eth.
Besides eth prunes it's chain agressively so the space it uses is constant, allowing for much more scaling than Bitcoin. Right now it already processes more transactions than btc, and value is proportional to the number of transactions per day.
When sharding is implemented, you will be able to host websites and we apps in eth very cheaply with guaranteed zero downtime. It's gonna replace Amazon
You don't.
You pray for as much FUD as possible to keep the price low so you can accumulate because ETH isn't a fucking pump and dump so what people think doesn't matter in the long term.
The tokens will be consumed and basic supply and demand will drive up the price. There are working prototypes of pos/sharding already built in python. It's literally been mathematically proven to be the fastest computer on the planet by 2018.
You can even fucking host websites on ETH. ETH isn't just a platform, it's the internet 3.0. That's not even FOMO.
ETH was not hacked, wallets were hacked, or if you are talking about the DAO that was a vulnerability in THE CONTRACT no ETH itself. If you are only holding that risk is inexistent.
ETH is not less established, it just has a lower price right now but that is gonna change soon.
Money Skelly is a genius with huge foresight and you can't possibly care about what he tweets, just watch him speaking and you'll know he is infinitely more sane than btc did spreaders like like Jr and Peter todd
Solid answer for point 3, but the first two answers are hardly something the "big money" is willing to buy right now, as these two factors heavily influence the stability of the price.
I agree with you that it will go up (as will do nearly every alt in the next year) but it needs more professionalism to grow so heavily that it attracts the conservative money from e.g. big investment companies and steal away the "crown" of being the "top crypto".
money skeleton has autism. that is different from being a genius. everything he says is retarded but his math is spot on.
eth is an amazing investment, still. its the second chance for people who missed the btc pump and dump. it will be the next iteration of the internet.
youre fucking with me right? big money is already in the game. tech companies invested not in the tokens but rather software to be run on eth.
the financial institutions are going to want to get into crypto, see the btc shit show, and buy eth once they learn of the 100m cap and how the tokens are destroyed over time.
Nope. But that's why you buy Monero.
Lmao. Literally better and more private after metropolis and z snarks come out.
have you actually watched any of his talks? How the fuck could he run the ETH foundation and meet with central banks presidents if he had autism, he is just awkward.
erh has monero's privacy next month with metropolis. thrn you'll be able to buy drugs with it. give it time, man.
if eth already had all its updates then the 1000x gains would have already passed.
he even met with putin. he has the good kind of autism. socially retarded but good at math. also, vlad > vitalik in terms of vision and ability but no one realizes that yet. the eth team has a powerhouse of skilled engineers building it.
I hope your right. I already have plenty of Monero but want to get a bit more ETH, as I only have 15 right now. I'll buy some more later this month. Thanks for the tip.
wtf I'm all in on ether now
You can't, cryptocureency is not a safe investment, big banks could decide in the foreseeable future that cryptocureency is threatening their business model and could start lobbying the government to try and audit its users since it could be argued it can be and it's being used as a money laundering scheme, I'm not saying it's going to happen just hypothetically that's how easy bitcoin (the gold standard of crypto) could go to nothing in a matter of months.
And just for the record ETH has never been hacked, unlike early BTC which experienced something similar where a user exploited a bug to mine thousands of bitcoins before the whole blockchain was set back to delete the blocks.
government is slow and crypto is growing just to fast, they won't be able to react in time. It could happen but I doubt it.
So right now, how many applications are there for a decentralized computing interface? I like the idea of being able to run whatever, but the fact is that paying per line is dumb when your personal computer will do all the same work for the cost of electricity.
So what major advantages are there, aside from the inherent advantages of decentralization, which seem to have limited use in software? Anything that wants to interface with the network needs to have a computer in and of itself.
running apps on eth will be cheaper than on amazon's cloud after serenity and your apps will be faster, too. the fact that they can't be taken down by anyone other than you and all transactions are untraceable (output addresses are hidden) is icing on the cake.
Do you have a link to said presentation please?
...
>running apps on eth will be cheaper than on amazon's cloud after serenity
Can you cite where you got this from? It sounds too good to be true. If I can verify this then I'm going all in on eth, since to my knowledge it should be virtually impossible for a decentralized system to be more efficient than a centralized one, just due to greater communication and synchronization overhead. But then, even proper cloud.computing is all distributed, so who knows how the efficiency works out in practice.
Basically, imagine a computer with a near infinite number of cores. That's ETH, and clearly better than Amazon's cloud. Right now the bottleneck that keeps ETH from having a near infinite computational power is that every transaction needs to be broadcast to every node. That's solved with sharding.
Here's a FAQ on sharding:
github.com
Though keep in mind ETH is the protocol layer. The actual layer that does the computations is built on top of it, so you shill get billions of floating point operations per second on a single core, then once the computation is done it's broadcast.
Amazon takes huge profits from it's cloud services. Also, there is a huge amount of idle computing power right now because there isn't a way to rent your computer time. With sharding and PoS, you will be able to set up a node and get paid for doing computations. Because of the huge supply of computers, this will drive the cost very near to the eletricity cost of doing this computations. It isn't a matter of efficiency; even if a decentralized system is less efficient as long as there is demand of computing power the cost will be driven down.
From the sharding FAQ: "a super-quadratically sharded blockchain could be used as a general-purpose tool for nearly all decentralized applications, and could sustain transaction fees that makes its use virtually free."
Good info in here. Thanks broskis
Quick question. If the tokens are destroyed all the time, how does the 100m cap not eventually run out?
Legend. Thank you user
But eth is a shitty scamcoin.
Buy neo instead
I believe in some animal rights and that dogs should not be boiled alive so I can not support primitives like Chincks.
thx guys!
rolling
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Bcash only!
Or another scenario: BTC goes down, ETH holds its value because it is not intrinsically tied to BTC. Completely different tech behind it with a multipurpose platform.
ETH would hold some of its value but everything would take a shortterm hit if BTC went down, even Etherium. Anything you can buy in real world currency would weather it better then all the alt coins.