Bitcoin Forum

How many people that invested in ETH actually understand the technology of ethereum? I was reading the site of ethereum, it has a lot of explanations in "human language". But I still don't fully understand itor what it really is. Is it a new encrypted and distributed darkweb? It needs ether to pay or to communicate or to confirm or what?

Why are there so many people investing in it? Are they genius or am I stupid?

Firstly don't blame other people for your own inadequacies. Secondly if you read the website and still don't understand nor appreciate the vast potential in Ethereum then I suggest you stay away from it until a Dummies Guide is published. When the Internet and email first came out the dumb people questioned why they'd need it. Today these very same individuals post dumb selfies on Instagram and mind numbing liked on Facebook. Sometimes you need the vision and intelligence to look behind the organ grinders curtain.

i guess alot of the people that invest in eth have no fucking clue what it is. they just move where the money is flowing into and start yelling its the bitcoin killer becuse bitcoin did not earn them money fast enough, in some days they will be back in bitcoins pretending it never happend. alot of people invested in it thinking it would be the next big thing. it might still be. but its over hyped for what it is right now not for what it could be down the road.

Hey pumper idiot. You don't understand Ethereum's insouciant, technological incompetence and overhyped useless Dapps either.

Click my name and click read my posts.

Goddamn somebody didn't get laid last night.

I can't say I understand ETH either, nor any of the other cryptocurrencies but I'm not a big investor either and I don't need a PhD in cryptography to use bitcoin.  As I said in the other thread I will watch TPTB's predictions closely even without understanding fully his arguments.  I am not that smart.

Dont think so. Its like BTC. At some point all that matters its the money that it makes

they don't understand the technology, just chase quick money.

probably because you are stupid  :D, just kidding !, may be many who invest in ethereum because ehtereum price and the price is too expensive, and too many takers, maybe that's all I know about ethereum. perhaps anyone want to add or improve.

Do not be a fool thinking he doesnt have his own reasons.Yes ethereum has its own problems but thats the reason its still developing and most problems will be sorted out.As i said,hes either looking for a job at eth,or maybe trying to release his own crypto.And most likely stashing some ether for rainy days.
And its obvious for everyone no matter how new we are into cryptos that ethereum is the most likely project out of every other project out there to really become succesful and reach mainstream succes.The only threat to it are the devs themselves or maybe some other revolutionary crypto that would dwarf eth's potential.

I think that once great dapps like slick.it and Augur are released later this year then everyone will see the potential. Unfortunately by then for most on here the price will have skyrocketed out their reach.

Incorrect.

Augur can't be secure without centralization. Just all nonsense you pumpers write. Never even one technology rebuttal.

TPBP why do you think he's a pumper?its clear ether has the highest chances at reaching mainstream success,even though it has its problems.Me,i just have a very small bag and i really hope these "pumpers" really dump so i can get more.And,fortunately for those like me,a dump wouldnt kill it because,unlike 99% of the cryptos out there,like LTC,thats nothing but pure wannabe bitcoin speculation,people cannot be fooled twice with a really big pump like LTC had (ive read it was around ~50$) and then left for dead,and maybe,maybe,wait a while so people can forget and attempt a smaller pump to milk it again and again.And before you say,but if they dump eth they ll be out of funds,well,dont be naive and think they ll only think about funding themselves by selling ether only when it would have reached its bottom.

I feel some pity for you guys who so deluded that you think that. Go read my posts in the Ethereum Paradox thread. But of course, you just want soundbites, not the hard work of analysis, and thus you choose to be in delusion.

Ethereum has 0% chance of ever attaining 10,000 users as a decentralized block chain. It might end up as some centralized crap and perhaps some partnership will hoist some crapware onto it similar to the "success" of Windows Phone with its 0.1% global market share of the smartphone market.

I wouldn't worry about it at all. I wonder what % of this board understand crypto at all at a deep level. It's interesting for sure but it's kind of like maths at a high level. Sometimes no amount of study will allow you to grasp certain concepts. It's seems to me as I think about it, some brains perhaps have more ram. They can hold much more information at a conscious and active point whereby that information can interact and kind of be blended to create/reveal concepts that others with less ram can not ever experience. Hopefully we'll get some kind of implant/upgrade in the near future :)

Sometimes looking too deeply isn't the best thing for regular people. I remember in math back at high school when we were doing trigonometry and it seemed rather simple,  I felt I understood it and was feeling kind of smart. Then I stopped being happy with just pressing the tang or cosine button and thought about how I didn't undertand what that button did really or the working behind tan and cos. That was the first time i realised things can get a bit more tricky than you think in this world. If you try to force your mind to grasp concepts beyond your reach then you become annoyed and frustrated at your own hardware or your ability to use it. This is an unpleasant feeling.

How many investors really understand BTC or any crypto at a deep level I'm not sure. The issues BTC is having now should have been foreseen you would imagine if most understood the concept entirely. Or perhaps it's not that simple maybe certain issues can only become or apparent at a certain time.

If you are talking investment then that is something else. Those who understand the tech  do not essentially make the best investments or get the best gains since the markets move on pumps and rumour and manipulation is easy for wales in such small markets.

I've lost so much money (or rather failed to collect on so many gains )in crypto and could have been a millionaire several times over in USD value (im sure the same can be said for most who have been on this board for a few years). I am now more of a collector of crypto. I find it hard to sell anything hence why I have rooms full or clutter.

With ethereum - be very careful. I have seen a number of times now these unstoppable best thing since sliced bread coins/tokens reduced to crumbs.

So true.

The best you can do is observe when experts debate, e.g. smooth and I, or gmaxwell and I. Then form a judgement based on that interaction.

No expert has debated me on Ethereum's technology. Everyone ran away and hid, or implicitly agreed. So that should be an indication to you, that I am very likely correct on my technological analysis of Ethereum.

Note I would not claim to be an expert on some aspects, such as the math of elliptic curve cryptography. Neither is smooth.

And saying that, I was thinking now for long time we are lacking a proper risk metrics for all that. So what you think of starting new thread say

"Claim for regorous risk analytics for crypto ccys"

or better create an open Crypto Rating Label for any ccy & sidechain that would take this into account like


Market Risk (Volatility, VaR,...) - standart stuff here.

Liquidity Risks (exchanges, coin distribution, transparency,...)

Cyber Risk (hacking, steeling of private keys,..)

Systemic Risk (high level attac vectors, economics, centralization, Violation of CAP,...)

Operational Risks ( DEVs, Community, Release cycles,..)

...


I'd love to see such !  And would help so much for all Investors ( edit: Software Traders).

Please tell us which ones are comparable to ethereum.

Ignore him. He is simply trying to shout down anyone who knows and understands the power of the Ethereum technology simply so he can buy in on the cheap and fill his own bag. He came late to the party and now he understands that Ethereum has a brighter future than BTC.

i can't speak for others but as someone who has invested in Ethereum and sold my ETH a acouple of times so far, if i want to be 100% honest i can tell you that i have little information about ETH and less interest in knowing about it. i just bought and sold if for profit.

Yes, I kept hoping that one of the eth core developers or vb would come and have open discussion with you. However to me at my basic level of understanding in this field your view seems to hold merit in that it seemed to be make logical sense (based on the steps i went through in your laymans explanation) and what held more weight to me (because at a basic level things can seem to make sense that are not essentially correct ) that nobody really seemed to offer (at a level I could understand anway) an alternative explanation or try to refute your claims in anyway.


I find most discussions on forums very interesting from a psy angle too. Especially those where minds that do not often encounter minds of similar capabilities in their day to day life. More so when they have different or opposing opinions based upon either a correct or incorrect evaluation of the data they're discussing. Because it is in public and because they are so accustomed to either not being wrong (else others generally have no idea if they are right or wrong) when it does happen ....it is interesting to see how they deal with this.


Ethereum is just but one project so I don't care to spend too much of my time (because i freely admit that although i do love the idea of a truly decentralised currency and find all techno stuff quite fascinating and interesting especially at a laymans level ...right now my primary motive is making enough money to retire from "work" and live a very basic/economic life doing things I enjoy) focusing on how I missed the boat on that. It is interesting how they can do so many things with it for sure. However, if that comes at the price of it being so large and expensive to operate that it is not really a viable then I suspect my small investment pot could provide greater opportunity with regard short term returns somewhere else. Although will leave a small amount of coins there as I do with most of these projects.

The stakes are certainly rising though in the alt world. I remember when a coin was judged on the quality of it's logo in its ANN thread. Then we moved to the next level where a coin had it's own poker room. Now we have coins that will apparently form a global computer and that MS and Banks want to use. Ones that will be a decentralised (to a degree) version of facebook all kinds of claims/possibilities. Things certainly moved up a notch in the last year. It's all quite exciting really and it always starts on this board.

It is true that Ethereum is hard to understand, Just because it is not only a cryptocurrency.

But they are talking about totally new things, like Smart Contracts, Dapps And A blockchain where you can create your own currency, and Applications.
I must say I also don't know everything about about Ethereum there is to know, I didn't blindly invest tho.

I just watched a few video's about Ethereum and also read a few articles.
And finally this video explained a lot for me:

https://www.youtube.com/watch?v=0X33lgMbvdI (https://www.youtube.com/watch?v=0X33lgMbvdI)

But still I don't understand everything about ethereum, simple because I am not a Programmer.
But I do however see that this could be something great and it is no Joke!

If you were a senior level programmer, you would understand it can't be something great. You should review my posts in the Ethereum Paradox thread which have not been refuted by any one. Zero rebuttals.

The difference between hype and success, is like the difference between Microsoft Tablet and the Apple iPhone. Microsoft didn't understand a damn thing about how to do it. Apple did. The reasons are in the technological and market design DETAILS. If you don't understand the DETAILS, then you don't understand. Microsoft had been trying for years to produce a touch screen device. And they are still trying and failing horribly with Windows Phone.

Btw, Ethereum's Casper engineer Greg Meredith hails from Microsoft Research. The other on the Casper design team are kids with no proven experience whatsoever.

And I am software engineer with million user products under my belt. And yet you think I am bullshitting. Sigh.

You should be banned again for repeatedly spamming your own nonsense thread. If people want to read your wall of FUD they will but stop spamming every other thread.

Commenting factually is not spamming. You are spamming, by making posts which add no information.

How much are you paid to pump ETH? Don't lie.

In the past coins have been the best new thing and unstoppable (held in huge favour my many of the board) and are now a fraction of their former selves.

This is not essentially a comparison based upon their technology or underlying code.

By some this code (etherium) has been brought into question. Although that question has not been raised by the many. It has been raised by the few. Those few being some of the experts in this field. That is a question in the long term that will need to be answered.

If you're asking or interested in investments. Then I feel there is no advice one should give or take in crypto there are simply too many factors involved to pick out any kind of system at all. Since most don't understand the tech and are investing in things they have no idea about ...we tend to act like a herd. So momentum trading seems to work but as with anything it's more luck than judgement. There are some master manipulators here and they are without doubt making a fortune. Some are ruthless whilst appearing cordial or even pleasant but you can spot them if you pay enough attention.

You can view the funds some are losing as investment into crypto I guess since scams have to be more and more techno elaborate now to attract attention and this is raising the bar and pushing the tech forward. People are gaining small knowledge too now so not so easily parted from their btc.

If eth can pull off what it says then I will be happy because I like the idea over all(from what i can understand) of what at a user level it can deliver . I will also be rich in USD terms because I have a little bit of it. However, yes I do have doubts now if what they want to achieve is actually possible. I don't mean doubts where they can tweak here and there and fix. I mean doubts like it is a house build upon bad ground .This house may look okay until i have a party and it falls over. If it is bad ground then in crypto I fear it's not like I can just fill with concrete and fix the problem... It may be cheaper and better to start building an entirely new house else where.

Only time will tell now I guess.

 

Nobody knows how to scale a block chain decentralized. Iota neither.

That is the issue that isn't solved and Ethereum sharding direction will never work because it is fundamentally mathematically impossible to make it work.

I have an idea of how to scale a block chain with decentralized control.

On top of that, scripting can break the security of the block chain by opening new income for 51% attackers. So it is another step to solve after solving the scaling problem.

None of these 2.0 clones are any where near to those solutions. Ethereum is flying off in the wrong direction, which is perfect for me. I hope they continue with Casper. The smartest thing I could for my coin is to shut up so no one tries to go review my past descriptions and figure out how to do it.

No one cares about your ether butthurt everywhere. People who understand the potential of Ethereum will be investing. Your FUD is targeted on noobs and fools, good luck and try harder.

I have challenged Vitalik twice and he hasn't replied. All the experts here have access to my posts and can refute me, and they haven't.

Your post was completely devoid of any informational value. You've refuted none of my technical posts. Zero. Zilch. You are completely silent.

There a lot of noise about Ethereum and so I done a little research and I find this site it's very informative it's a newbie guide but I guess everything I want to know about Ethereum that I need to know fast are all here please check it out

http://www.ethereum-101.com/ (http://www.ethereum-101.com/)

People don't need to have the high level knowledge to play with Ethereum and i don't think more than 5% bitcoin users have its full knowledge & some dont even know anything more than just to send or receive it.They might simple diversify their money or assets.

Mr. Software engineer i believe your dictionary needs an update.
https://www.microsoft.com/surface/en-us

Another failure that followed Tablet.

That is hype. Not truth. Read my posts in the Ethereum Paradox thread if you want to understand the truth. It requires understanding the details.

If all you want is a good fairytale, then read the link you quoted.

i doubt ETH will find is use though. I don't see any gambling site allows ETH to be deposited. But i hope they really made it even if it will just have about cents on its value.
if it can't find its use, they may never grow anymore but end up just like the rest of the shitcoin.

Personally I'm glad Vitalik hasn't responded to you. He has more important things to do with his time than replay to butt hurt nut jobs who are bitter they missed the ether train.

The typical excuse a pumper makes when is unable to refute any of the facts stated by me.

@OP
I doubt it because they always defend ETH by telling me over & over about "potential app's"
and repeating that it's not considered a currency.

Also the convoluted nature of it is a determent to global world adoption.
It will forever be pigeon-holed to the advanced crypto-nerds who get into the tech seriously deep.
If it can't be explained fairly easily it will never get main stream adoption.
Bitcoin itself is hard enough to explain to users as it is.

Also i love the game the ETH guys played with it too.
It was launched in 2014 with some short lived fanfare.. they seen the backlash and Failure response from us all
and they could see it was not going to be received well.
So they put it on the back burner and waited (think StartCoin + Max's crew etc) <-- looming next maybe
Then they waited until the scene was sufficiently corrupt and greedy
enough to care about a gimmicky scammy launched IPO App'z coin with big promises.
I still NOW.. years later get told it's benefit is "potential" app's (in other words not even app's that exist on launch)
What in the fuck do i give two shits about potential "App's" with a currency for anyway ?
But anyway in case you missed my point what i got a kick out of was the old classic Shitcoin routine here..
and that is ?
Launch a "potential" turd for millions of YOUR dollars collected in BTC. (in exchange of worthless IPO tokens + promises)
It's perfect because since it has nothing going for it on Launch no one will ever pay attention to the Launch.
The masses will simply see it as coin #7,001 and ignore it.. because it was launched as a SHELL
a hollow shell that will be filled later by coded features one day.
Then in YEARS time all kinds of things have been tacked onto it etc to make it look *more* valuable
then finally years later the pace picks up and peoples start investing..
And of course the smoke clears from a scam launch.. dipshits see the coin listed on Exchanges
and assume if it's list then it's ok to use / trade etc.
It's funny because ETH sure as hell ain't the only one who pull this shit scam routine.. cough cough BlockNET ? ROFL

The low hanging fruit is dragging on the ground around here  :D

actually it can--Ethereum is a blockchain with a programming language.  It's basically a generalized version of the altcoin NXT.

the ethereum devs will almost never describe it that simply.  instead they will sell you on pie-in-the-sky ideas.  while most aspects of the ethereum vision are still vaporware (and some are actually impossible to implement--see TPTB's posts), they've been paying money to a marketing team to pump the hell out of this thing.

Bitcoin has a programming language too. The explanation is actually more complicated.

yes, but it's much simpler for security purposes, right?

How would you explain ethereum in a few sentences or elevator pitch?

but one thing i dont understand why invest in eth on the exchange thats to support the currency right? becuse as it seems now and in the future is that ether would be more used with its apps and what ever new functions it brings and the currency part of it is not going to change the world in anyway. that what im wondering about , feels liek the ether currency want catch on in anyway , but it smart contracts and apps might? correct me if im wrong or missed something.

partysaurus, haven't you heard that Ethereum will cure cancer, enable pigs to fly, and rejuvenate old men into young studs again?

And of course be a superior currency to Bitcoin, as just a minor facet of its absolute awesomeness.  ::)

yes i have heard and almost believed in it.
Until half of all the hypers disapeard. they went from attacking everyone doubting eth and that is always a good sign of a fantastic product that you need to force it on people and shit talk to every none believer :D

I would Say That Ethereum will be part of the Future.
It is a super computer that can run anywhere in the world, nothing can stop it!

You can build decentralized applications, or even your own currency.
And can also help big businesses automate and safely store secrets anywhere
It is a good investment, would be my pitch :D

But what if only a few people can use it at the same time? like 0.000001% of the worlds pop
or maybe you will need to wait days or months to download to your 50000TB hard drive it to use it to do these things?

I know it is amazing in a lot of ways don't get me wrong but what if this is not suitable for the purpose it is being touted for?

I'm not saying this is the case but It seems it's over 10GIG already? is this worrying or will they do something to perhaps to stop it growing like this? maybe a solution where you don't need to store it all to use all the features.

I hope it does become huge (successful not 500000tb) I could do with being rich... even if it's not a fraction as rich as i'd be if i invested in ico. But it seems there could be serious issues. We must wait and see

who knows...

Yes I agree, they should change something about the size of the blockchain.
I am downloading it all day already and I must say it wasn't that easy as advertised.

I am sure they could create a wallet where downloading the whole blockchain wont be necessary.
Because in the beginning Bitcoin had the exact same problem, and they removed that with fast loading wallets like:
Multibit, and Electrum are the ones I know of I am sure there are more.

And also you must think the technology of storing and transferring things is also still improving as well.
We are getting more and more cheap terabytes hdd's and storing files will only get easier!

Not understanding how something works isn't a problem. I'm sure thousands don't understand BTC, let alone how the microwave oven works in their kitchen, but that doesn't prevent them from using it. Yes, Ethereum is an altcoin, and it's also much more. So let's just say that it's better, and worth more. I guess it will be easier to understand once some apps built upon it get famous.

ya.. i will tell my Grandma "it's like NXT"  :D

If it can NOT be explained easily to less computer savvy people then it will not get major world wide adoption.
So since the guys here can't even get it i can guarantee you the rest of the world will not.
AKA: ETH is going no where !
You all already seen ETH's high point.. it's all down hill now.

EDIT:
Oh and if it's like NXT then why did they have to make coin #6,676 ?

WRONG.
Bitcoin is a good example.. it's hindered by the fact that the public doesn't know what it is..
how it works etc ..and there for they will not deem it safe, secure & trustworthy.
And then add in the amount of HACKS headlines in crypto for a total of 1 billion usd worth stolen.
You have a scene that looks like a complicated scammy load of Pyramid scheme bullshit.

You guys just refuse as always to see how things actually are.
You all live in a bubble here. a delusional little crypto fantasy world
..where one day the whole planet is going to come kicking your down down screaming take my money now !
(for what ever coin is the flavor of the month your all flogging)

I said i would light my money on fire before buying shit like ETH or Monero etc
So i did !
I posted pictures too  8)

All investors need to know about Ethereum is:

Bitcoin is a Bearer Token (https://en.wikipedia.org/wiki/Bearer_instrument)
Ethereum is more like Registered Instrument (https://en.wikipedia.org/wiki/Registered_instrument)

Quite a huge difference. One's a "thing", the other is a "pointer to a thing". (Holds smart contracts that tell you you own something, but the "something"  is not the Ethereum tokens. Those just fuel the contract that says you own the "something" which might be a house).

With Bitcoin, the thing you own are the tokens. End of story.

Thats why ETH isn't a limited supply blockchain - as Simon Dixon says "it's more like Fiat, they can print up new ETH whenever they like". Limiting the supply is not an important aspect of the blockchain the way it is with so called "pure money" blockchains such as BTC  ;)

***** P.S. ******

On another subject, w.t.f. is factom ? Why is it going so sky high ?

More or less. 

BTC - yet -  is more money like (store of value)
ETH (no real use yet) more fuel like kinda game coin / high volatility expected.

Pls get the difference between currency ( Zimbabwe $ is one)    and money ( store of value - what fiat is that? / gold? -> BTC )
 

Ok then, corrected my post.

(Been watching any Mike Maloney videos lately ?  ;)  )

Here's Simon Dixon trying as hard as he can not use the words "pump and dump" and "take profits while you still can"  ;) ....

https://i.imgur.com/hRMYgbb.png (https://www.youtube.com/watch?feature=player_detailpage&v=D7XdO7AME80#t=562)

(He also tried not to use the words "fiat currency" but unfortunately failed in that attempt  ;)  )

I dont understand ethereum as much as i understand bitcoin some people are just going with the flow and just eventually learn what crypto currency is.

I wish I understood Ethereum a few months ago and bought the Etheruem. The price has risen many times since then.