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Title: Ethereum noob here - help appreciated Post by: ObscureBean on May 20, 2016, 05:11:35 AM Ok so I'm a complete Ethereum noob. I thought my altcoin days were over but the past few weeks I keep running into news articles on Ethereum. I remember the same thing happening with Bitcoin back in 2010 and I completely ignored it. It would be super lame if Ethereum takes off and I miss this train as well and so I've decided to convert a small portion of my Bitcoin into Ethereum. I'm basically planning on buying some to hold for the long term, not to trade or anything.
I would really appreciate it if you guys could highlight any important things I need to know about Ethereum. Also what's the best online wallet and the best local wallet for Ethereum? Thanks in advance for your help :) Title: Re: Ethereum noob here - help appreciated Post by: dsattler on May 20, 2016, 06:21:39 AM Ok so I'm a complete Ethereum noob. I thought my altcoin days were over but the past few weeks I keep running into news articles on Ethereum. I remember the same thing happening with Bitcoin back in 2010 and I completely ignored it. It would be super lame if Ethereum takes off and I miss this train as well and so I've decided to convert a small portion of my Bitcoin into Ethereum. I'm basically planning on buying some to hold for the long term, not to trade or anything. I would really appreciate it if you guys could highlight any important things I need to know about Ethereum. Also what's the best online wallet and the best local wallet for Ethereum? Thanks in advance for your help :) You can use the latest mist browser from the ethereum github as a wallet: https://github.com/ethereum/mist/releases (https://github.com/ethereum/mist/releases) If you have a lot of ETH, you want to keep it safe. There's a trezor firmware update with ether compatibility announced, keep an eye on this. Ether is gpu mined, maybe you want to have a look at this as well if you already have the equipment and low power costs. No expensive asic miners to buy! ;D Title: Re: Ethereum noob here - help appreciated Post by: techgeek on May 20, 2016, 06:58:21 AM You can buy a bunch on the ETH exchanges like localbitcoins.
Yes, they offer it. Some ads though, also other places are now doing ETH as well so you can buy a bunch at the current rate of bitcoin. The price is very cheap at the moment for reasons, unless you have a current way to get GPU gear cheap or alt rigs. Title: Re: Ethereum noob here - help appreciated Post by: Barney on May 20, 2016, 07:14:34 AM Be cautious buying here. It is currently x20 (and x35 of IPO price) for the last 6 month and should be due serious correction soon even if staying bullish long term. Another thing you may want to know - it will go POS-only somewhere this fall (according to dev roadmap) so it will be impossible to mine it.
Title: Re: Ethereum noob here - help appreciated Post by: Velkro on May 20, 2016, 09:03:28 AM I would not recommend anything other than bitcoin... but since bitcoin don't work under high load (several hours to first confirmation coz blocks full), i will also read about ethereum :/. Sad day it is.
Title: Re: Ethereum noob here - help appreciated Post by: dsattler on May 20, 2016, 09:06:56 AM Another thing you may want to know - it will go POS-only somewhere this fall (according to dev roadmap) so it will be impossible to mine it. Exactly. You should mine ether only if you already have the equipment (decent graphics card), IMHO a big invest could be difficult to ROI. Title: Re: Ethereum noob here - help appreciated Post by: ObscureBean on May 20, 2016, 09:38:09 AM Thanks for the replies guys :) What about online wallets? Any particular site/service you would recommend? It looks like Coinbase will be adding ETH support to its wallet service at some point, if/when that happens I'm definitely gonna go with them, I've been storing my Bitcoins with them for a while now and I'm very happy with their service. But what's the best site I can use for now?
http://www.coindesk.com/coinbase-exchange-rebrand-ethereum-trading/ Title: Re: Ethereum noob here - help appreciated Post by: dsattler on May 20, 2016, 09:40:34 AM Thanks for the replies guys :) What about online wallets? Any particular site/service you would recommend? It looks like Coinbase will be adding ETH support to its wallet service at some point, if/when that happens I'm definitely gonna go with them, I've been storing my Bitcoins with them for a while now and I'm very happy with their service. But what's the best site I can use for now? http://www.coindesk.com/coinbase-exchange-rebrand-ethereum-trading/ Poloniex https://poloniex.com/ (https://poloniex.com/) has the most volume for ETH/BTC. |