What is Ethereum and how come it's shares have sky rocketed?

What is Ethereum and how come it's shares have sky rocketed?

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Discussion

AndStilliRise

Original Poster:

2,295 posts

115 months

Saturday 29th April 2017
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From what I can see looks like binary trading, which we know to avoid. But wanted PH views?

LeoSayer

7,299 posts

243 months

Saturday 29th April 2017
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Blockchain technology (distributed database like bitcoin) for the financial services / fund management industry.

Sounds a but pie in the sky to me at the moment.

anonymous-user

53 months

Saturday 29th April 2017
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i started a post about 3 months ago as i entered the market.

it is so far pie in the sky it is unreal, but that is good as people underestimate it and therefore missed the opportunities the crypto world brings.

Eth or ether is a asset and platform first used as a currency second. the value it offers is pretty high, when you start seeing billionaires investigating 10% of there capital in this world, you take it seriously.

whilst people focused on bitcoin, eth has jumped to 2nd place and bitcoin has dropped nearly 20% ,market share in 2 months, the market is now worth 35 billion and grown 50% in last 4 months.

it it isn't binary no where near close, but the market can strip your money faster than you can blink.

i trade a bit on poloniex, biggest exchange, there is a lot of stuff going on at moment. i invested my money in mining the coins, about 3k so far.

For example i bought ethereum at about 14 dollars feb, now worth 70 dollars. unfortunately i sold before big jump.

Edited by The Spruce goose on Saturday 29th April 19:24

anonymous-user

53 months

Saturday 29th April 2017
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the main reason for price increase is up take in usage, but it very popular in Korea. The platform is used for token to raise money for projects and this has increased massively. Eth is also moving from proof of work, basically using computers to solve problems to gain rewards, to proof of stake, basically you stake your eth to gain rewards whilst locking eth away for a certain time.

bloomen

6,845 posts

158 months

Monday 1st May 2017
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It aims to be a world computer issuing smart contracts and a whole host of other offerings. Lots of stuff is being built around its code but little has come to fruition so far.

Right now I wouldn't touch it with a mile long barge pole. There's a universe more downside than upside, though there's still plenty of upside possible too. It basically has zero real world usage but an awful lot of hype.

The places it's traded are manipulated and controlled by small groups of pumpers. The trading is completely unregulated so it's a flat out free for all.




anonymous-user

53 months

Monday 1st May 2017
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whatever you say though in the space of 3 months it has 6 times its value, o.k long term there are risks but there are currently people investing money and have confidence in ETH.
The exchanges are lightly regulated but freedom allows innovation, i think a lot of traditional investors don't understand the whole world so automatically write it off.
yes it is untested but currently i think it offers a lot over the traditional banking sector.

Hedge Fund Billionaire Invests 10% Net Worth into Bitcoin and Ether

http://www.coindesk.com/hedge-fund-founder-invests...

Ethereum Soars After JPMorgan, Intel, Microsoft And Others Form Blockchain Alliance

http://www.zerohedge.com/news/2017-02-27/ethereum-...

there are loads more big investers, i think eth is a great plaform for me offers a lot more than bitcoin, but there are some other exciting coins/platforms coming out or gaining traction as well.

mainstream use is around the corner.

bloomen

6,845 posts

158 months

Monday 1st May 2017
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None of those businesses plan to use Ethereum itself.

'Together, we will learn from and build upon the only smart contract supporting blockchain currently running in real-world production – Ethereum – to define enterprise-grade software capable of handling the most complex, highly demanding applications at the speed of business.'

I wish anyone who gets in all the luck in the world but anyone who can't see a bubble swelling in front of their eyes will learn a hard lesson. Anyone who's been into crypto for any length of time will already know it.

anonymous-user

53 months

Monday 1st May 2017
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bloomen said:
None of those businesses plan to use Ethereum itself.

'Together, we will learn from and build upon the only smart contract supporting blockchain currently running in real-world production – Ethereum – to define enterprise-grade software capable of handling the most complex, highly demanding applications at the speed of business.'

I wish anyone who gets in all the luck in the world but anyone who can't see a bubble swelling in front of their eyes will learn a hard lesson. Anyone who's been into crypto for any length of time will already know it.
i disagree, a bubble will burst when it is mainstream, 95% of the world still don't have a clue. in a weird way it doesn't have to fulfills its purposes to become valuable, value is in the holders and currently they value it. Whilst interests rates are low i think people won't be pulling money out into fiat for a while, it would be nonsensical.

LooneyTunes

6,780 posts

157 months

Monday 1st May 2017
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The Spruce goose said:
whatever you say though in the space of 3 months it has 6 times its value, o.k long term there are risks but there are currently people investing money and have confidence in ETH.
The exchanges are lightly regulated but freedom allows innovation, i think a lot of traditional investors don't understand the whole world so automatically write it off.
yes it is untested but currently i think it offers a lot over the traditional banking sector.

Hedge Fund Billionaire Invests 10% Net Worth into Bitcoin and Ether

http://www.coindesk.com/hedge-fund-founder-invests...

Ethereum Soars After JPMorgan, Intel, Microsoft And Others Form Blockchain Alliance

http://www.zerohedge.com/news/2017-02-27/ethereum-...

there are loads more big investers, i think eth is a great plaform for me offers a lot more than bitcoin, but there are some other exciting coins/platforms coming out or gaining traction as well.

mainstream use is around the corner.
Your link is a bit out of date I'm afraid... http://www.reuters.com/article/us-jpmorgan-r-idUSK...

It's a sector I know quite well... and I think a lot of the big banks are looking in the wrong place for value from blockchain technologies. That's not to say it won't work out well for them but there is some potentially more interesting stuff happening in the fintech space (using blockchain) right now.

anonymous-user

53 months

Monday 1st May 2017
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well it seems the current market disagrees with your view, and even them leaving the r3 made little difference, transactions are up, price is up. There are very intelligent people that have said bitcoin would fail from the start and have been proved wrong over and over again.

i believe in the tech and invested, i don't truly understand it, but you don't have to when you see a movement in process leaving big banks and companies in the wake still arguing over it.

edit just looked 1.5 billion volume in last 24 hours is pretty big, probably biggest volume to take.

these three graphs paint a good picture to me, bitcoin dominance has dropped and alternative coins have gained market share. this to me gives better security in the market as a whole as risk can be spread, which i guess is happening. 4 years ago people lived and died off the bitcoin price.









Edited by The Spruce goose on Monday 1st May 20:25

LooneyTunes

6,780 posts

157 months

Monday 1st May 2017
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The market is free to disagree me... but note that I didn't knock either Ethereum or their valuation.

Whilst a big consortium is needed for certain blockchain applications, the number of big names leaving (and limited time that JPM was involved) should suggest that there is more than just R3 out there.

I would however suggest that you do need to understand the tech as, like others, I think there will be fingers burnt if folk buy the wrong firms at the wrong times/prices. A bit like was witnessed in the social networking space.

bloomen

6,845 posts

158 months

Monday 1st May 2017
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Once again, good luck to all. I'd still suggest treading with the greatest of care because right now there's a lot of hot air that'll eventually blow people over.

There will no doubt be THE crypto bubble some day and I believe it could well dwarf the dotcom bubble. It's many years away yet though and it's conceivable that none of the coins around today will be there to see it.

In the meantime there's going to be a lot more horseplay and I believe it's still largely steered by small groups of whales whose only aim is more dollars.

The best strategy is to match what they do and walk away with profit when it's shouting in your face and to not look back.


Edited by bloomen on Monday 1st May 20:30


Edited by bloomen on Monday 1st May 20:42

LooneyTunes

6,780 posts

157 months

Monday 1st May 2017
quotequote all
The Spruce goose said:
edit just looked 1.5 billion volume in last 24 hours is pretty big, probably biggest volume to take.

these three graphs paint a good picture to me, bitcoin dominance has dropped and alternative coins have gained market share. this to me gives better security in the market as a whole as risk can be spread, which i guess is happening. 4 years ago people lived and died off the bitcoin price.
And this is why there is/will be a bubble: confusion between Bitcoin (or similar) and Blockchain.

The two are not synonymous, and the more interesting stuff right now is not in the crypto-currency space. Which is why I think people risk getting scorched fingers when they figure this out (likely when they get blindsided by innovation that just isn't on their radar as a result of looking in the wrong direction).

Behemoth

2,105 posts

130 months

Tuesday 2nd May 2017
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It's amusing that whenever a crypto is mentioned on this forum, it tanks the following 24 hrs.

Erstwhile MP Louise Mensch menschioned in a tweet yesterday https://twitter.com/LouiseMensch/status/8590758003... that the White House press man Sean Spicer has been using Bitcoin, seemingly to verify his identity. Interesting to say the least!

anonymous-user

53 months

Thursday 4th May 2017
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just over a week and another 12 billion added to the market.

quite a few coins have done 100% in a week, Litecoin and ripple.

Bitcoin lost another 6% in market dominance but price increased.

if i had a clue how to trade it does seem like a money tree.

i don't think anything has tanked as of yet

bloomen

6,845 posts

158 months

Friday 5th May 2017
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it's a mind boggling market at present. I have an £18 outlay that's far beyond 100k at present.

people have been saying it can't last for weeks and months now. I've been watching closely for about five years and have never seen anything like this. Am stumped.

anonymous-user

53 months

Saturday 6th May 2017
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18 pounds worth 100k or 18k?

btc hit nearly 1 billion 24hr volume , nearly double in a over a week.

bloomen

6,845 posts

158 months

Saturday 6th May 2017
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18 quid worth over 120k now I just checked. that's xem rather than eth but I got in when it was launched. sometimes sitting there doing nothing for years on end pays off. plenty more headroom for that so I'll stay put.
I pulled out a grand and blew it on amazon but that's it until it's far bigger.

I'm looking around for smaller stuff now. I'm happier with a piddling thing returning to nothing than putting money into multi billion dollar monsters. byteball looks promising and they're also giving it away free by linking bitcoin balances.
I got a few hundred quid's worth for nothing last month. the next distribution is on may 10th so if you have some bitcoin then it's worth signing up.

Edited by bloomen on Saturday 6th May 00:37


Edited by bloomen on Saturday 6th May 00:39

anonymous-user

53 months

Saturday 6th May 2017
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i looked at it but sounded like a Ponzi scheme so left it out but looks good value.

my list is:

Ripple
Decred
eddgless
wetrust
sib coin
darcus
dash

i may buy the aeternity ico

i am trying to build capital so swap and change between them at moment.

i only started last 3 months not very good but i mine as well, as a hobby.



bloomen

6,845 posts

158 months

Saturday 6th May 2017
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if you have some btc it's free and you can dump it on bittrex instantly.

of that list I dig decred the most. they have some cool ideas. I think I'm reaching crypto saturation so may step back soon. the party has barely started.