ah.. Ethereum: A Pyramid for Pyramid Schemes! ironic that ethereum's logo is a pyramid on a pyramid..  like the pyramids in Egypt, Ethereum is technologically impressive (if they get it working, though there is evidence this may be impossible, hence the reason for paid marketing to hype vaporware, the premine, etc), but utterly useless also, dapps are not decentralized apps. dapps are ethereum-centralized apps.. apps where you have to pay a tax to ethereum miners for basic functionality. if Bittorrent, Tor, or OpenBazaar were designed from the ground up today, they would never even consider building on the ethereum platform. |
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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? |
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@OP
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.
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. |
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Don't worry there's more good news coming out next week.
you referring to homestead or other? Ethereum is the new Bitcoin.
No--Ethereum is a generalized version of NXT. They have great marketing tho. |
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It's basically able to do pretty anything.
Ethereum is a blockchain with a scripting language, basically a generalized version of the altcoin NXT. the cost of having the scripting language is security problems and scalability problems. His Smart Contracts system allow you to host decentralised applications in the network
1. decentralized applications are not created through ethereum. there are many ethereum-centralized applications created with ethereum. 2. the internet is a platform for creating decentralized applications. the World's computer.
which has the computational power/capacity of a 1990s dumbphone. |
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It's been a painful ride for me with the altcoin market this year, what makes this one special?
supposedly it can do anything, and they've spent a good deal of the pre-mine money on their public relations/marketing team before having a working product, so you can expect more positive hype i guess |
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Ethereum: Centralizing Decentralized Applications
Would a popular decentralized application like Bittorrent work better on ethereum? You'd have to pay a tax ("fuel") for every download... would every download be recorded on the ethereum blockchain? If the ethereum blockchain were experiencing some problems (such as scalability or a ddos attack), would that prevent programs running on ethereum from functioning?
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ethereum blockchain size already at 10GB, fees at 0,03$ its that big already? where can i look that up? |
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is ethereum trying to centralize decentralized applications by handcuffing them to their blockchain via the gas tax (they call it fuel of course  )? could you imagine if Bittorrent, Tor, or OpenBazaar had to pay a tax every time there was a download, a page load, or a sale made? What ethereum is building is impressive in a way on a technical level i suppose, but there are aspects of it that are troubling to me. |
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I am hodling, but ETH is making me cry with envy haha
Same. It's weird how your emotions play on you. I passed on buying at $2, now I can't believe I'm actually thinking of buying at $12. Please talk me out of it. My logical side says--look at that chart, it's parabolic up, while it might continue a little further, a correction is imminent. Whereas my emotional side is saying "jump ship! this time is different! get in while you can! you're still an early adopter!" Also, the ethereum volume on google trends is less than bitcoin in 2011.. does this mean that the price rise is being driven by a few whales as opposed to lots of people buying? |
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If ether rises 1000% again its bigger than bitcoin market cap. Ripple actually had a larger market cap than bitcoin in like 2012 for a brief period of time, though Ripple's market cap was debatably fake.
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Instead of vomitting B.S. maybe you should just have tried typing 3 lines of Javascript into an Ethereum command line and watch it execute perfectly.
That would have told you all you need to know about where this product's going.
Half my post was bullish, half bearish. The part you quoted was not bs. I have no doubt ethereum works, i was referring to some dapps. |
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isnt the volume too big for it to be a pump n dump?
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Oh wait, I wish I own some of this coin it is up 300 to 400 percent this year.
its up more like 1000% this year. and 30-40x for presale buyers (not sure exact price at presale) i'm interested in owning some for the long term, but it seems foolish to buy right now. OP is right about what he stated. the only dapps i was interested in checking out have been under construction for a year or more with seemingly no progress. the few that seemed to be complete looked like webpages from the 90s. ethereum has some slick marketing too (names like homestead and serenity instead of just ethereum 1.0, 2.0, etc). but i've seen this play out before with other alt coins. its parabolic up right now. is ethereum basically bitcoin+sidechains? also seems like the same pumpers are at it again "you're still an early adopter!" when price is up 10x in 2 months.. my rational side says while another FOMO push upwards is possible, but we will likely see a correction (and i would miss the top anyway). my emotional side says BUY! which i also ignored on many other alts (and would have got me burned) on the other hand there are some significant differences here: - most previous altcoins bubbles (like litecoin going to 1B market cap) were fueled by bitcoin price increase - ethereum on google trends is still very low even in comparison to bitcoin's 2011 bubble. (there is a strong correlation between price and google trends volume) - other alts were basically bitcoin clones. while ethereum is still similar to bitcoin in some ways (blockchain, decentralized, has mining), it has some big differences (but not being a programmer, i am not completely sure how much these differences actually mean; and the people telling you ethereum is the best thing since sliced bread are obviously biased) - chinese exchanges not in on it yet, but then again the main reason china got in before was cuz ASIC production and hence most mining farms were in china. theres nothing to stop someone in china from buying on poloniex cliffs: i'm torn. probably waiting on sidelines for the hype to die down |
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is there 1 working dapp i can check out?
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Why are you guys buying at the top?
some peoples plan is buy high, sell low |
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ether mining is still all GPU and they claim to be ASIC proof... i wouldnt expect Chinese exchanges to list ether until there's some ether mining in China.
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probably.. call the top. im starting to think $20
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analysis never ends. master...... we're almost back to the price you sold at.. you havent missed the rocket launch. come back! |
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