Ethereum

hots · 29-03-2018 12:19PM

smacl wrote: »

Anyone else planning on buying back in, if so, what price?

Bought back in earlier this week after a few months sitting about 50% in fiat. Hoping for an upswing soon but not against waiting it out for the long run.

Shauny2010 · 29-03-2018 03:05PM

I'm not touching ETH, I sold my remaining Ethereum last January.
At the moment this has a lot further to fall and with the massive stock pile of Ether the EOS project has accumulated it will drive the price down much further over the coming months

Dardania · 29-03-2018 03:08PM

Shauny2010 wrote: »

I'm not touching ETH, I sold my remaining Ethereum last January.
At the moment this has a lot further to fall and with the massive stock pile of Ether the EOS project has accumulated has it will drive the price down much further over the coming months

I agree. Also flogged it all, albeit in December. It’s advantage was the enthusiasm around its ascent in price. There doesn’t seem to be much enthusiasm at the moment. I suspect a lot of big hitters have simply profited.

Shauny2010 · 29-03-2018 03:14PM

It still has many followers but it is being surpassed by better tech like Neo and the soon to be launched EOS.

Whelo79 · 29-03-2018 03:56PM

Shauny2010 wrote: »

It still has many followers but it is being surpassed by better tech like Neo and the soon to be launched EOS.

It's also losing a lot of new set ups to the likes of Stellar. Worrying times for ETH I reckon.

garrettod · 29-03-2018 07:50PM

Whelo79 wrote: »

I....Worrying times for ETH I reckon.

It sure is.

Being almost compelled to buy BTC, ETH or LTE, in order to then go and buy into some of the Alts is an unnecessary cost and a risk (in terms of potential currency movements).

ETH has traditionally been my "go to" currency, when buying or selling, but at this rate I'm afraid to keep any wealth in it for more than a few minutes.

Coinbase really need to be offering a few more currency options, for people who want to buy with fiat, or they'll soon be left behind also.

I saw something about Binance intending to offer USD$ / Crypto once it opens it's new office in Malta, which is promising (hope they also offer Euro, needless to say).

Thargor · 12-04-2018 10:31PM

Tonights action is making me all nostalgic...

garrettod · 13-04-2018 03:11AM

Thargor wrote: »

Tonights action is making me all nostalgic...

Hopefully you'll be having that same feeling for a lot of nights to come... ETH still has a long road to travel, before it gets back to anywhere near it's all time high (which it probably won't ever do).

grindle · 13-04-2018 06:48AM

garrettod wrote: »

ETH still has a long road to travel, before it gets back to anywhere near it's all time high (which it probably won't ever do).

Why would you think the most useful chain by a wide margin would never hit a peak again?

DeVore · 13-04-2018 10:31AM

When I was learning the stock traders job to write software for them the one thing I realised about investors was how short their memories were. It was very similar to the poker players I played with later in life.... very short memories of losses and huge temptation for gains. Give it a year, maybe two and this recent crash will be erased imho.

Here's my thinking. BTC (and others) have shown that it can be done, securely, quickly (in comparison with SEPA) and independently of any central bank and their manipulations. It has survived some very public meltdowns and come back, its resilient in that regard.
Given these truths, does anyone really believe that 30 years from now we wont have digital currency(s)?

All we're doing today is working out who the winners and losers in the race are. There is no question in my mind that it will happen. We're just working out the details.

Anyone who remembers dialup modems at the start of the internet (or CGI-Bin... or Geocities... or Telnet... or Gopher) sees whats happening here. Messy, techie, complicated forerunners proving the concept ... waiting for the Broadband, PHP, Facebook, WWW, Google (respectively) to arise and "do it right" with money behind them.

mulbot · 13-04-2018 11:41AM

DeVore wrote: »

When I was learning the stock traders job to write software for them the one thing I realised about investors was how short their memories were. It was very similar to the poker players I played with later in life.... very short memories of losses and huge temptation for gains. Give it a year, maybe two and this recent crash will be erased imho.

Here's my thinking. BTC (and others) have shown that it can be done, securely, quickly (in comparison with SEPA) and independently of any central bank and their manipulations. It has survived some very public meltdowns and come back, its resilient in that regard.
Given these truths, does anyone really believe that 30 years from now we wont have digital currency(s)?

All we're doing today is working out who the winners and losers in the race are. There is no question in my mind that it will happen. We're just working out the details.

Anyone who remembers dialup modems at the start of the internet (or CGI-Bin... or Geocities... or Telnet... or Gopher) sees whats happening here. Messy, techie, complicated forerunners proving the concept ... waiting for the Broadband, PHP, Facebook, WWW, Google (respectively) to arise and "do it right" with money behind them.

Do you think our current main crypto types will last then or a newer type would be the way to invest?

mulbot · 13-04-2018 11:41AM

DeVore wrote: »

When I was learning the stock traders job to write software for them the one thing I realised about investors was how short their memories were. It was very similar to the poker players I played with later in life.... very short memories of losses and huge temptation for gains. Give it a year, maybe two and this recent crash will be erased imho.

Here's my thinking. BTC (and others) have shown that it can be done, securely, quickly (in comparison with SEPA) and independently of any central bank and their manipulations. It has survived some very public meltdowns and come back, its resilient in that regard.
Given these truths, does anyone really believe that 30 years from now we wont have digital currency(s)?

All we're doing today is working out who the winners and losers in the race are. There is no question in my mind that it will happen. We're just working out the details.

Anyone who remembers dialup modems at the start of the internet (or CGI-Bin... or Geocities... or Telnet... or Gopher) sees whats happening here. Messy, techie, complicated forerunners proving the concept ... waiting for the Broadband, PHP, Facebook, WWW, Google (respectively) to arise and "do it right" with money behind them.

Do you think our current main crypto types will last then or a newer type would be the way to invest?

DeVore · 13-04-2018 12:07PM

I dunno... I think Smart Contracts are probably a more interesting platform than straightforward currency but horses-for-courses.

I think there is a lot left to be learned about blockchain and crypto so I would expect some considerable evolution either within the existing frameworks or from new ones.

smacl · 13-04-2018 12:49PM

DeVore wrote: »

Anyone who remembers dialup modems at the start of the internet ...

Dial-up modems were the luxury that came after acoustic couplers and a choice of 110 or 300 baud. You could call stuff out and type in into the BBS at the far end faster!

garrettod · 13-04-2018 07:04PM

grindle wrote: »

Why would you think the most useful chain by a wide margin would never hit a peak again?

Hi,

Combination of reasons really:

The crazy money has been and gone, as far as crypto currencies are concerned.
There is always the new "best thing" which may well replace ETH and by extension, attract away investment which might otherwise have gone to ETH

Pintman Paddy Losty · 13-04-2018 09:21PM

This nonsense that crypto-currencies are in their infancy and we're only truly discovering their true potential is absolute horse manure and pure conman sales patter.

Guess what else was released the same year as Bitcoin? The android phone. Apple iPhone came out the year previously. In that time we've seen smartphones proliferate globally as they're a great product with actual utility.

Bitcoin's utility was essentially it's privacy (which isn't actually great) and thus was adopted by people in order to buy drugs, guns and child pornography. Outside of being a speculative asset, those small niche transactions that require lots of privacy are the main use for cryptos as a currency.

Then the new wave (the future googles according to DeVore) tend to be a vast array of sh1tecoins all which have some combination of airdrops, unrealistic promises, vague suggestions of partnerships with big firms, pumps and dumps and pumps and dumps. All the while people who bought in and never got to cash out cry HODL.

As for it being decentralized and "outside the authority of a central bank". For god sake, a handful of "whales" control and manipulate the entire market. The price fluctuates wildly as the guys at the top pull the strings and suck up the poor guy at the bottoms BTC by forcing the price down to his stop order and then pumping it back up again.

I'll say it again. Smartphones came out the same year as bitcoin. Saying the technology is in it's infancy is naive at best and disingenuous at worst.

nuac · 13-04-2018 09:48PM

smacl wrote: »

Dial-up modems were the luxury that came after acoustic couplers and a choice of 110 or 300 baud. You could call stuff out and type in into the BBS at the far end faster!

I recall back in the day when a modem downloading 800 baud and send 300 Baud ( or maybe the other way around ) was state of the art for mere £800.

Things have certainly moved on since

Whelo79 · 13-04-2018 10:40PM

Pintman Paddy Losty wrote: »

This nonsense that crypto-currencies are in their infancy and we're only truly discovering their true potential is absolute horse manure and pure conman sales patter.

Guess what else was released the same year as Bitcoin? The android phone. Apple iPhone came out the year previously. In that time we've seen smartphones proliferate globally as they're a great product with actual utility.

Bitcoin's utility was essentially it's privacy (which isn't actually great) and thus was adopted by people in order to buy drugs, guns and child pornography. Outside of being a speculative asset, those small niche transactions that require lots of privacy are the main use for cryptos as a currency.

Then the new wave (the future googles according to DeVore) tend to be a vast array of sh1tecoins all which have some combination of airdrops, unrealistic promises, vague suggestions of partnerships with big firms, pumps and dumps and pumps and dumps. All the while people who bought in and never got to cash out cry HODL.

As for it being decentralized and "outside the authority of a central bank". For god sake, a handful of "whales" control and manipulate the entire market. The price fluctuates wildly as the guys at the top pull the strings and suck up the poor guy at the bottoms BTC by forcing the price down to his stop order and then pumping it back up again.

I'll say it again. Smartphones came out the same year as bitcoin. Saying the technology is in it's infancy is naive at best and disingenuous at worst.

What rubbish. You are conveniently forgetting all the phones that came before and the development involved. Crypto is at the briefcase sized mobile phone stage of the late 80's to use your poor comparison.

Grumpypants · 13-04-2018 10:49PM

Pintman Paddy Losty wrote: »

I'll say it again. Smartphones came out the same year as bitcoin. Saying the technology is in it's infancy is naive at best and disingenuous at worst.

The phone was invented in the 1870's. The smartphone is just an evolution of 140+ year old tech. There is no comparison.

Bitcoin might flop, it might evolve into something very different. But it is absolutely in its infancy.

drunkmonkey · 13-04-2018 10:57PM

It's making great ground during the turmoil against bitcoin cash, if the center holds for another 10 days it's gone past it.

grindle · 14-04-2018 12:35AM

garrettod wrote: »

The crazy money has been and gone, as far as crypto currencies are concerned.

There is always the new "best thing" which may well replace ETH and by extension, attract away investment which might otherwise have gone to ETH

1. I think you're underestimating the amount of money in the world. Not very much of it was needed to push things to where they are now. Every boom has grown userbase by a large margin - I see no reason to think there wouldn't be another boom considering the incentives, relative ease of entrance to invest, adoption with enterprise increases with tx count (scaling is this large of an issue, it's what's ripped dev-mindshare away from BTC), newly set-up stocks or options will be moving in this direction represented as smart contracts.

2. If Bitcoin has first-mover advantage due to it's network size and price then Ethereum certainly has first -mover advantage with regard to it's utility, it's already-disruptive effects on Bitcoin's market dominance and the mindshare of idealist devs who think very highly of Vitalik. Something as novel as Ethereum hasn't been suggested since it's arrival - maybe something very special gets announced by some new entrant, but it hasn't happened yet. People FOMOing into ADA hardly counts, it's got nowhere near Ethereum's support from devs who are going to be making the value on the platform. Not yet at least. It could change, I just can't see why it would unless ETH was updated and performance was so poor that there was another chain dominant enough to shift over to and they moved. Very hard work for a competing contract platform unless the amount of new devs outpaces the market's growth.

Anthracite · 15-04-2018 09:22PM

Grumpypants wrote: »

The phone was invented in the 1870's. The smartphone is just an evolution of 140+ year old tech. There is no comparison.

Bitcoin might flop, it might evolve into something very different. But it is absolutely in its infancy.

I have to disagree - the thing I use my smartphone as LEAST is as a phone. The phone is just one app of thousands. The smartphone has much more in common with the iPod than it does with even a feature phone.

Anthracite · 15-04-2018 09:24PM

Whelo79 wrote: »

Crypto is at the briefcase sized mobile phone stage of the late 80's to use your poor comparison.

That being the case, aren't we at least 20 years too early to put money into this?

Grumpypants · 15-04-2018 09:40PM

Anthracite wrote: »

I have to disagree - the thing I use my smartphone as LEAST is as a phone. The phone is just one app of thousands. The smartphone has much more in common with the iPod than it does with even a feature phone.

Even if you say it's a pc in your pocket. That pc started out in the 70's. Even the tablet was released in 2002. They all had long lead times before they hit main stream acceptance.

Anthracite · 15-04-2018 09:43PM

Grumpypants wrote: »

Even if you say it's a pc in your pocket. That pc started out in the 70's. Even the tablet was released in 2002. They all had long lead times before they hit main stream acceptance.

Right, but the smartphone was accepted immediately the technology was there to implement useful things - cameras, maps, web browsing etc.

Are we waiting for a quantum leap in crypto technology? Should we really have our money in the suitcase-phone right now?

smacl · 19-04-2018 08:09AM

Anthracite wrote: »

Right, but the smartphone was accepted immediately the technology was there to implement useful things - cameras, maps, web browsing etc.

Not really, no. I've been working with handheld computing since 1984 and most of the many precursors to what is now the smartphone failed miserably. We had touch screen Windows CE PDAs with SIM cards from the late 90's and plenty of other contenders prior to that. Anyone else own an Apple Newton? Long before the iPhone or iPod, way back in 1987 Apple were working on handheld touchscreen technology. Alongside this we had the slow growth of the internet, which given its limitations meant the best early connected devices could hope for was client/server or point to point. The technology we have now took ages to implement and the road that got us to where we are now is long and littered with defunct tech companies that contributed but ultimately failed. One observation I'd make about any high tech successes is that they're invariably built on many previous failures that get quickly forgotten.

Nanos gigantum humeris insidentes and all that

Anthracite · 20-04-2018 12:21AM

That raises the same two questions I posed above:

1. If it's simply too early to succeed and the technology is years (or decades) away from viability, should we have our money in crypto at all?

2. If it's not too early (as with smartphones), why has it not had even a tiny fraction of the adoption of smartphones once the iPhone demonstrated that the technology was mature enough to be useful?

This is one of those situations where the answer is blinding obvious...when seen from a 50 years in the future

smacl · 20-04-2018 07:35AM

Anthracite wrote: »

1. If it's simply too early to succeed and the technology is years (or decades) away from viability, should we have our money in crypto at all?

It's definitely taking a punt, but isn't that what life's all about. I certainly wouldn't move all of my money into crypto, but neither would I ignore it. By investing a discrete amount, even with an expectation to lose 100%, I've also become invested in the bigger picture.

2. If it's not too early (as with smartphones), why has it not had even a tiny fraction of the adoption of smartphones once the iPhone demonstrated that the technology was mature enough to be useful?

In my opinion we're very early indeed, closer to where Apple were with the Newton than the iPhone. or the Apple ][ versus the Mac. Given the iterative nature of software development, this doesn't mean that tokens with the same name and value carried forward won't still be around in the future. This is where the analogy between crypto and hardware devices falls down a bit. I was using Word for MSDOS in the 80s, still using Word for Windows today.

This is one of those situations where the answer is blinding obvious...when seen from a 50 years in the future

Absolutely. But getting that bit older my experience is that it is far more fun to play, and lose more often than not, than sit on the sidelines. Never did buy those Apple or MS shares in the mid 80s, more fool me

grindle · 20-04-2018 08:02AM

I'd say years rather than decades from viability, 2020-2021 will be a big year or two for Ethereum's scaling and thus adoption.

Is it better to have bought Apple shares once the first iPhone was released (price 10x since then)? Or once they announced the iPhone (13x)? Once they released the iPod (132x)? Or once they re-hired Steve Jobs (350x)? All were smart moves but it would take 35 times less capital to earn the same amount of money simply from share price gains if you had gotten in when they re-hired Jobs.

If you want to buy the "sure thing" in the future you'll pay the price for it and gains will be considerably less. Much like any kind of gamble, the stock market is little different in that sense and the crypto market speculates the price far ahead of utility. You might see a lot of fund investors entering ETH in a couple of years with it's averaged 5% PoS gains thinking "Yes, now is a good time, sensible place to put my money now that it's a behemoth" but the early investors are the real winners.
It might not be as safe as the 5% on top of initial capital (which would be paltry) but safe doesn't turn $10 into (checks price, cries tears of gold) $660 in two years.

smacl · 20-04-2018 08:29AM

grindle wrote: »

Is it better to have bought Apple shares once the first iPhone was released (price 10x since then)? Or once they announced the iPhone (13x)? Once they released the iPod (132x)? Or once they re-hired Steve Jobs (350x)? All were smart moves but it would take 35 times less capital to earn the same amount of money simply from share price gains if you had gotten in when they re-hired Jobs.

Or even when the Newton was failing and the many naysayers were harping that Apple were going to hit the wall over it. Its a chorus that anyone who's been in computing long term know well, and to be fair many more ventures fail than succeed, but the successes are staggering. I hear the same chorus around here by times, which doesn't bother me in the least.

Reading the tea leaves, but I reckon if ETH gets PoS working or finds another mechanism to become greener, it will take a leap and knock BTC off the top spot very quickly. Longer term, for all its problems, I still think IOTA could be a winner.

Ethereum

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