What is Ethereum and how come it's shares have sky rocketed?
Discussion
Guvernator said:
How do you genuinely sort the wheat from the chaff?
With a hell of a lot of research and good technical knowledge. There's just too much shilling going on for an amateur to cope with the information overload (much like the dotcom bubble). What is different is the seminal coin in all of this, Bitcoin. It does not compare to MySpace, Yahoo etc. It is the foundation of all crypto activity and is better compared to the web or even the internet itself. In an environment where there are no safe bets, it's the safest long term bet I see.Behemoth said:
With a hell of a lot of research and good technical knowledge. There's just too much shilling going on for an amateur to cope with the information overload (much like the dotcom bubble). What is different is the seminal coin in all of this, Bitcoin. It does not compare to MySpace, Yahoo etc. It is the foundation of all crypto activity and is better compared to the web or even the internet itself. In an environment where there are no safe bets, it's the safest long term bet I see.
Except I think the ship may have sailed on bitcoin. Yes it's the most stable but that really isn't saying much as even BTC fluctuates wildly. It's currently sitting at around the £1800 mark and even that is too high I think. I think it's probably the one that has the best chance of long term survival but the price it will eventually stabilise at will be a lot lower than this IMO.Guvernator said:
Except I think the ship may have sailed on bitcoin. Yes it's the most stable but that really isn't saying much as even BTC fluctuates wildly. It's currently sitting at around the £1800 mark and even that is too high I think. I think it's probably the one that has the best chance of long term survival but the price it will eventually stabilise at will be a lot lower than this IMO.
See you in ten years when it's 6 figures 
Henrico said:
Bitcoin has a limited supply, the more it's in demand, the more price goes up.
it an idea world yes, but there are so many other factors, no one can predict the future, there are so many competitors on its heels, the game changes ever day, like i said never think you can predict the market.yes japan will use it at the Olympics and Asian is growing bigger market, but there are weakness too.
The Spruce goose said:
it an idea world yes, but there are so many other factors, no one can predict the future, there are so many competitors on its heels, the game changes ever day, like i said never think you can predict the market.
yes japan will use it at the Olympics and Asian is growing bigger market, but there are weakness too.
True, you can't but if Bitcoin doesn't survive no other coin will replace it as none of them can do what Bitcoin has ie. come from nothing, heavily decentralised, large market cap and no 1 person in charge. If any coin could become Bitcoin, Bitcoin would not be as dominant as it is now.yes japan will use it at the Olympics and Asian is growing bigger market, but there are weakness too.
Henrico said:
Bitcoin has a limited supply, the more it's in demand, the more price goes up.
It's been on a downward trend for over a month, has demand gone down in a month then? Or has it gone down because it's cryptocurrency and no one really knows what it's going to do. You could be right and it could x10 or you could be wrong and it could crash and burn.For instance I'm still not entirely convinced that the central banks or various governments won't try to intervene if they see it as a threat or decide they don't like it. OK they probably can't shut it down or hack it in a technical sense but there's more than one way to skin a cat.
Guvernator said:
It's been on a downward trend for over a month, has demand gone down in a month then? Or has it gone down because it's cryptocurrency and no one really knows what it's going to do. You could be right and it could x10 or you could be wrong and it could crash and burn.
For instance I'm still not entirely convinced that the central banks or various governments won't try to intervene if they see it as a threat or decide they don't like it. OK they probably can't shut it down or hack it in a technical sense but there's more than one way to skin a cat.
It's going through some 'difficulties' right now which is holding it back. If it doesn't collapse under it's inner turmoil then I don't see why any other currency would take over. I mean we all saw what happened to Eth For instance I'm still not entirely convinced that the central banks or various governments won't try to intervene if they see it as a threat or decide they don't like it. OK they probably can't shut it down or hack it in a technical sense but there's more than one way to skin a cat.
There's not a lot central banks can do apart from climb on board and embrace it. Governments can block the ins and outs to the exchanges but even that can be got around. Also the governments who do block it will be the ones who miss out in the long term.
Henrico said:
It's going through some 'difficulties' right now which is holding it back. If it doesn't collapse under it's inner turmoil then I don't see why any other currency would take over. I mean we all saw what happened to Eth
There's not a lot central banks can do apart from climb on board and embrace it. Governments can block the ins and outs to the exchanges but even that can be got around. Also the governments who do block it will be the ones who miss out in the long term.
What about if they decided it was being used for nefarious means and made it illegal something which I l believe has already been muted? Sure there would still be a small black market for it but for the majority it would be dead in the water. There's not a lot central banks can do apart from climb on board and embrace it. Governments can block the ins and outs to the exchanges but even that can be got around. Also the governments who do block it will be the ones who miss out in the long term.
Guvernator said:
What about if they decided it was being used for nefarious means and made it illegal something which I l believe has already been muted? Sure there would still be a small black market for it but for the majority it would be dead in the water.
They could only stop people moving money to exchanges etc. It would be too hard and costly to shut down all the miners. I think what is more likely is if governments control Bitcoin when they realise it's future power. At the moment we have an attempted takeover. If it fails then that will be the next big thing. Then s
t will get nasty!Just reading an article about btc after 1st of august.
https://www.google.co.uk/amp/s/www.theregister.co....
So basically any coins sent after this date could disappear, seems a bit of a mess explains the current market retraction.
''A research note issued by Morgan Stanley analysts on Wednesday may do more damage. It advised spending bitcoins rather than saving them because "Bitcoin acceptance is virtually zero and shrinking.''
https://www.google.co.uk/amp/s/www.theregister.co....
So basically any coins sent after this date could disappear, seems a bit of a mess explains the current market retraction.
''A research note issued by Morgan Stanley analysts on Wednesday may do more damage. It advised spending bitcoins rather than saving them because "Bitcoin acceptance is virtually zero and shrinking.''
Edited by The Spruce goose on Friday 14th July 18:40
Edited by The Spruce goose on Friday 14th July 18:41
The Spruce goose said:
So basically any coins sent after this date could disappear, seems a bit of a mess explains the current market retraction.
Yawn. More FUD. Any coins bought before 1/8 are perfectly safe if they're in your hands. After 1/8 it'll be very clear very quickly what direction we're heading. I'd far rather BTC's long proven democratic and transparent code adoption/rejection process than centralised midnight decisions like Buterin's Ether split after the DAO code scripting fiasco.Behemoth said:
Yawn. More FUD. Any coins bought before 1/8 are perfectly safe if they're in your hands. After 1/8 it'll be very clear very quickly what direction we're heading. I'd far rather BTC's long proven democratic and transparent code adoption/rejection process than centralised midnight decisions like Buterin's Ether split after the DAO code scripting fiasco.
still doesn't answer the question there is the potential that any coins bought after 1/08 could be lost, from what i have read it may not be as quick as you say.pretty big news considering the amount traded daily. also seems totally different to ethers decision considering the coins would be worthless.
Decentralized has benefits as well as negatives and it is fair for potential investors to know the situation before investing.
Edited by The Spruce goose on Saturday 15th July 07:36
The Spruce goose said:
still doesn't answer the question there is the potential that any coins bought after 1/08 could be lost, from what i have read it may not be as quick as you say.
pretty big news considering the amount traded daily. also seems totally different to ethers decision considering the coins would be worthless.
Decentralized has benefits as well as negatives and it is fair for potential investors to know the situation before investing.
Any Investors who do their research know the "situation".pretty big news considering the amount traded daily. also seems totally different to ethers decision considering the coins would be worthless.
Decentralized has benefits as well as negatives and it is fair for potential investors to know the situation before investing.
It's good that people fight over elemental principles. Given a choice between democracy and dictatorship I choose democracy every time. Just wait for the Eth pow/pos wars. And then eth scaling issues, which are far far worse than BTC. Many people lost Eth/etc coins when it split to Eth/etc because it happened without warning as a dictatorial decision by eth's ruler Buterin. Not so with BTC.
Behemoth said:
Any Investors who do their research know the "situation".
It's good that people fight over elemental principles. Given a choice between democracy and dictatorship I choose democracy every time. Just wait for the Eth pow/pos wars. And then eth scaling issues, which are far far worse than BTC. Many people lost Eth/etc coins when it split to Eth/etc because it happened without warning as a dictatorial decision by eth's ruler Buterin. Not so with BTC.
im not sure why you keep comparing to eth, that was a totally different situation to this.It's good that people fight over elemental principles. Given a choice between democracy and dictatorship I choose democracy every time. Just wait for the Eth pow/pos wars. And then eth scaling issues, which are far far worse than BTC. Many people lost Eth/etc coins when it split to Eth/etc because it happened without warning as a dictatorial decision by eth's ruler Buterin. Not so with BTC.
it just seems crazy that a billion transactions a day will have to stop for some time to ensure you don't lose money, and that time may be quick or slow, could be weeks. i can't think of any other currency this has happened to recently.
The Spruce goose said:
im not sure why you keep comparing to eth, that was a totally different situation to this.
It's completely comparable and analogous. It shows you exactly what the governance differences are. One is democratic and the other autocratic. And with both, users can decide which chain they support and ultimately which coin they use.With the Eth/Etc autocratic hard fork, there was no warning and plenty of people lost coins because they were left at an exchange doing the wrong thing or were mid transaction when the hard fork happened without any warning whatsoever. Did you hold Eth during the Dao fiasco?
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