What is Ethereum and how come it's shares have sky rocketed?
Discussion
The Spruce goose said:
i think you missed my point, it is down to value. the more eth is used as a platform(which it was desgned for), the more value is added. the more coins that more to eth platform the more successful it becomes
The value is in Buterin and his team (which certainly has tangible value). Ether is not a company share, it's simply a token for Ethereum. When it was created, Buterin himself said there was no intrinsic value in the Ethereum token. I think everyone conflates Ethereum and Ether and then buy Ether tokens thinking they're somehow getting part of the ecosystem. Maybe something has changed since I listened to Buterin talk up Ethereum in early 2016 before the DAO script exploit calamity. Good luck, I hope it works out.From Buterin's own site:
Ethereum said:
Ether is to be treated as "crypto-fuel", a token whose purpose is to pay for computation, and is not intended to be used as or considered a currency, asset, share or anything else.
Edited by Behemoth on Tuesday 23 May 17:37
"Ether is to be treated as "crypto-fuel", a token whose purpose is to pay for computation, and is not intended to be used as or considered a currency, asset, share or anything else."
He probably got some very careful legal advice before opening his mouth about any aspect of Ethereum. That's the type of phraseology to keep those regulators at bay for a while.
He probably got some very careful legal advice before opening his mouth about any aspect of Ethereum. That's the type of phraseology to keep those regulators at bay for a while.
Edited by bloomen on Tuesday 23 May 18:10
bloomen said:
He probably got some very careful legal advice before opening his mouth about any aspect of Ethereum. That's the type of phraseology to keep those regulators at bay for a while.
No, it's at the heart of the Ethereum proposition. Listen to some of his monologues on YouTube. It's more likely that the concept got thrown out with the bathwater and his hedge fund advisers told him not to worry whilst the sun is shining.The Spruce goose said:
one thing my mining profitability has doubled over night due to these high prices, there are now 10 coins with high values so not just one, if this continues will make 3k gbp profit(including rig cost and electricity) this year from my rig.
You can certainly shoot lots of fish in the barrel for now. I'm a bit more cautious and maybe I focus too deeply on the long term fundamentals. It is clear there are bubbles forming,
Poseidon bubble
'The price of Poseidon shares quickly became too high for many investors, so some turned to other nickel stocks, stocks in other mines near Windarra, and eventually other mining stocks in general. As the price of mining shares grew, new companies were listed by promoters looking to cash in. Mining stocks peaked in January 1970, then immediately crashed.'
the halo effect of BTC and eth has impacted on coins, i have seen coins with no devs, nothing interesting skyrocket, bytecoin is one. Also after DASH all coins with masternodes increased, some of the coins have minimum transactions, so masternodes make f-all but the price keeps rising as supply drops, due to coins being locked up.
SIA price jumped up because of the storj ico. There are massive ripples and twining of coins, it is definitely a bear market. that is why i bought my rig, less profit but less risk, i have something if it goes wrong.
Poseidon bubble
'The price of Poseidon shares quickly became too high for many investors, so some turned to other nickel stocks, stocks in other mines near Windarra, and eventually other mining stocks in general. As the price of mining shares grew, new companies were listed by promoters looking to cash in. Mining stocks peaked in January 1970, then immediately crashed.'
the halo effect of BTC and eth has impacted on coins, i have seen coins with no devs, nothing interesting skyrocket, bytecoin is one. Also after DASH all coins with masternodes increased, some of the coins have minimum transactions, so masternodes make f-all but the price keeps rising as supply drops, due to coins being locked up.
SIA price jumped up because of the storj ico. There are massive ripples and twining of coins, it is definitely a bear market. that is why i bought my rig, less profit but less risk, i have something if it goes wrong.
Edited by The Spruce goose on Tuesday 23 May 21:32
Lisk, which I tipped the other day, is the star performer right now. Up over 50% in one day. I hope it wasn't because of my tip on PH 
That said, it's a product which I think has legs. It has a very transparent dev team & a universally usable smart contract product. There may be other good ones out there but Lisk is one of the few I've researched quite deeply.
That said, it's a product which I think has legs. It has a very transparent dev team & a universally usable smart contract product. There may be other good ones out there but Lisk is one of the few I've researched quite deeply.The Spruce goose said:
Supersam83 said:
Now 1 ETH is worth £139.28 as of today
Doubled in value since I bought it
how many did you buy? ive done well this weekend as well, i think eth will go to 250 dollars soon or next few months.Doubled in value since I bought it
Iamnotkloot said:
I've got BTC, XRP and ETH. The coin market is incredible at the moment; and by that I mean big gains for people but also the feeling that a bubble is growing. I'm getting worried now, the inflows are huge.
cash out then... but that is the problem fear of missing out. i don't have a lot to lose and has stopped me gambling. as i posted there are bubbles forming but they are spread out. if there is crash i think btc would recover the others not so much, but whilst billions are flowing in it won't, keep an eye on market value.Behemoth said:
The CEO of Fidelity is now talking up Bitcoin. You don't get more mainstream than that in the investment world. I don't expect this to pop anytime soon.
some say when it is mainstream the bubble starting to burst. who knows, the biggest problem is more money = more regulation, the exchanges mostly.Edited by The Spruce goose on Wednesday 24th May 21:30
The Spruce goose said:
the biggest problem is more money = more regulation, the exchanges mostly.
Never a problem in my book. It's a hugely positive buy signal when things get regulated because regulation = acceptance. The tokens with fake hype & dodgy ICOs will get shaken out, of course.The Spruce goose said:
some say when it is mainstream the bubble starting to burst. who knows, the biggest problem is more money = more regulation, the exchanges mostly.
Certain Bitcoiners love to shout 'free market'. In their eyes the free market consists of teenagers operating piece of sEdited by The Spruce goose on Wednesday 24th May 21:30
t exchanges who then steal all of your money. Regulation's fine by me. If I want to avoid it there are ever increasing numbers of decentralised options like Bitsquare.
If I'm handing private keys over then I expect the people taking them to have passed certain hurdles to be worthy of it and face consequences if they screw up.
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