Does anyone truly understand Ethereum?

[lurker10]

I mean seriously?

[Mr. Green]

Yes.

Biggest crypto scam ever.

[LoyceV]

There was someone who understood The DAO. They call him "The Attacker".
That says it all.

Yes.

Biggest crypto scam ever.

Many people can say goodbye to their savings when it pops.

[brokedummy]

I can't lose on it is all I understand.

[lurker10]

I can't lose on it is all I understand.

This can't be enough for long term investing.

[elaking]

Yes.

Biggest crypto scam ever.

why you say like that?

[benthach]

One freak pyramid scam own by a Russian man.

[lizardbtc]

The answer is no, but hey I know how to follow a guide and how to issue my token there and I can create an ICO! Great stuff https://www.ethereum.org/token . The problem is that people have faith in developers who can just switch a button and activate some new code. I tried to understand it but my lack of knowledge has stopped me from doing so, not many people will understand even the white paper if you ask me, in case some of them reads that.



Better question Does anyone truly understand bitcoin 

[rudystyle]

Yes.

Biggest crypto scam ever.

lol but why would you think so?

[xbiv2]

Better question Does anyone truly understand bitcoin 

Read this: https://pastebin.com/ZUxTmR99

[lizardbtc]

Better question Does anyone truly understand bitcoin 

Read this: https://pastebin.com/ZUxTmR99

I am sorry but I am missing your point out there. My question was related to the mechanization behind bitcoin, it's code and how does it fully function. I think that we all know that bitcoin is capped and that it is easy to transfer.

First of all I don't agree with some statements that you have made there, bitcoin costs doesn't matter much as you can divide it into decimal parts, so if 1 bitcoin costs as you stated "10,000,000 USD" still we will be able to use it and to transfer value. Market Cap doesn't matter much, supply and demand is what makes the price. For instance if you have 10 people trading one stuff for 100$ it will cost 100$, but if 10people have it and 100people want then you will create the price to go up. Also if there are a lot of sell orders you will end up with price being dumped.

If some billionaire wanted to get all in price would skyrocket because he will increse the demand, so he can't buy all bitcoin at todays price around 2500$ for instance.


I don't understand why do you compare it to pyramid.

[European Central Bank]

no. isn't that one of its selling points?

if you're trying to get your mom to throw her money in too point her towards all the incomprehensible crap they come out with and she'll be so mystified she'll be forking out in no time.

[densuj]

Yes.

Biggest crypto scam ever.

why you say like that?

Take in easy dude, that is just opinions from users of bitcointalk, unfortunately he doesn't gives the reasons why he said like that, should he gives explaining about it will be interesting discussion about ethereum and any other related with it, i don't understanding about the people who hates ethereum without any explain about his opinions many all of them but the fact ethereum is still alive and growing up.

[Mr. Green]

unfortunately he doesn't gives the reasons why he said like that, should he gives explaining about it

Yes.

Biggest crypto scam ever.

lol but why would you think so?

Yes.

Biggest crypto scam ever.

why you say like that?

ETH IS SCAM

How are ethers created?
The total supply of ether and its rate of issuance was decided by the donations gathered on the 2014 presale. The results were roughly:

60 million ether created to contributors of the presale
12 Million (20% of the above) were created to the development fund, most of it going to early contributors and developers and the remaining to the Ethereum Foundation
5 ethers are created every block (roughly 15-17 seconds) to the miner of the block
2-3 ethers are sometimes sent to another miner if they were also able to find a solution but his block wasn't included (called uncle/aunt reward)

This is straight from the eth faq.
72 million eth is premined. %78 of the total circulating supply. How the fuck people can still invest in this premined scam?

How the fuck coinmarketcap list ether  #2 coin while 78% of its supply is premined?

Don't believe me? See it yourself: https://www.ethereum.org/ether

ETHEREUM FRAUD

Ethereum has unfair distribution: 70% was pre-mined (72m eth)


Only 20million eth is mined. Rest was piremined = SCAM

There are zero technical reasons to use eth, and entire value is based on lies and deception.

I truly wish everyone in eth to be tortured and removed from existence.

- Every crypto professional

tough

[talkbitcoin]

a very good question.
but it is kind of a general question though. does anybody even understand any of the altcoins?
when it comes to bitcoin, there are many who understand it at least know enough about how to use it properly. but when it comes to altcoins all anybody knows or cares about knowing is 1 number, the number representing their profit which comes from the pumping price rise.

more than 80% of the people you see around here who are saying ethereum is good and better than bitcoin have never even withdrawn ethereum from their exchange wallet. in other words they don't even know what an eth address looks like! let alone begin to understand anything about it!

and don't get me started on its price and how the bubble is going to pop:
https://medium.com/@WhalePanda/i-was-wrong-about-ethereum-804c9a906d36

[Mr. Green]

Nobody understands it because there is nothing to understand.

Eth solves a problem which doesn't even exist.

They made people to believe that there is a problem, and now they are solving it.

=Pump and Dump premined scam coin.

------

The real problem is banks/centralized currencies, controlled gold prices etc. Bitcoin is a solution to those.

What does eth solve? Nothing.

[talkbitcoin]

well it offers a pretty good feature! it made scamming people easy.
before people had to do a lot of work to make a new altcoin from scratch, put a lot of time to change some stuff in the code of the previous one they copied and start a stand alone coin and advertise it.

these days the same people are just making some smart contract with little effort unlike before and earn more money from its ICO just because they advertise it as "connected to ethereum".
and it is a two way street which benefits both skeezy people, the ICO and the ETH price since people are forced to buy ETH

[gedor]

Bitcoin didn't come to solve centralized currencies etc. It's just an experiment for global world currency which will be more centralized ever.

[LoyceV]

and don't get me started on its price and how the bubble is going to pop:
https://medium.com/@WhalePanda/i-was-wrong-about-ethereum-804c9a906d36

Thanks, nice summary of what's wrong with Ethereum. I can recommend reading this link!

Eth solves a problem which doesn't even exist.

Altcoins are now called shitcoins, simply because everybody knows the majority of them are just created to make the creator rich. While reading the link above, I realized smart contracts may at some point be called shit contracts. Let me be the first to introduce this term, I want my eternal fame!
Smart contracts are indeed a solution looking for a problem to solve, instead of solving an existing problem.

[ndnh]

I think so, but not yet fully.

It's got potential and will be around for quite some time, ever if I ignore the ICO factor that is pushing up the prices.