[ANN] Ethereum: Welcome to the Beginning

[almond]

Is something brewing for Ethereum? This coin have been steadily climbing upwards since it fell below 0.0019. Hopefully, 2016 will be a good year for Ethereum unlike last year where ICO holders cashed out.

ETH about to blow in 2016

That is just a speculation. Do you have any evidence or analysis to support your claim? Happy to discuss.

Here's an ETH speculation for you:
The velocity of money in ETH will increase.  In other words, the average number of times an individual eth changes hands will go up: the volume of transactions will increase faster than the available supply.  This will happen as more uses for ETH become available.  I'm looking particularly forward to Augur, myself.

All other things being equal, this can lead to a rise in ETH value......

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[Chronikka]

Simple question and maybe this has been addressed someplace else, but from what I've been reading Ethereum will eventually allow anything to serve as a tradeble currency or "token" within the Ethereum ecosystem. So what is the purpose of the Ethereum currency itself (Eth)?

Say for example I'm a company and I want to issue shares. I want to do it simply with a friction-less system (i.e. instant with minimal fees) that allows me to issue or transfer shares easily, and publicly verify ownership. Based on Ethereum I can simply create shares from nothing and issue them within Ethereum. All the share holders have to do is prove they own an address which contains shares that I've created. Those shares would not exist outside of Ethereum but who cares? The point is just to have a publicly verifiable ledger that shows who owns what in my company. In this scenario I would have no need whatsoever for Eth, but I'm still using Ethereum. How would that work?

Edit - I've been thinking about it and the only thing I can think of is that Eth is what will be used to pay fees to support the entire Ethereum ecosystem. Using my previous example say there are a bunch of companies issuing shares. They have each created a token that is unique for their company. But now somebody wants to transfer some shares, which would require a small fee. Well what do you pay the fee in? tokens? Whose token? I think by providing an underlying base level currency (Eth) the developers will be able to get around this. Which would mean all fees are paid in Eth, but whats actually being transferred could be anything. Am I on the right track here?

[Fatman3001]

Simple question and maybe this has been addressed someplace else, but from what I've been reading Ethereum will eventually allow anything to serve as a tradeble currency or "token" within the Ethereum ecosystem. So what is the purpose of the Ethereum currency itself (Eth)?

Say for example I'm a company and I want to issue shares. I want to do it simply with a friction-less system (i.e. instant with minimal fees) that allows me to issue or transfer shares easily, and publicly verify ownership. Based on Ethereum I can simply create shares from nothing and issue them within Ethereum. All the share holders have to do is prove they own an address which contains shares that I've created. Those shares would not exist outside of Ethereum but who cares? The point is just to have a publicly verifiable ledger that shows who owns what in my company. In this scenario I would have no need whatsoever for Eth, but I'm still using Ethereum. How would that work?

Edit - I've been thinking about it and the only thing I can think of is that Eth is what will be used to pay fees to support the entire Ethereum ecosystem. Using my previous example say there are a bunch of companies issuing shares. They have each created a token that is unique for their company. But now somebody wants to transfer some shares, which would require a small fee. Well what do you pay the fee in? tokens? Whose token? I think by providing an underlying base level currency (Eth) the developers will be able to get around this. Which would mean all fees are paid in Eth, but whats actually being transferred could be anything. Am I on the right track here?

Yup. Eth is the "fuel" to keep the network running. To do operations and pay miners. You can make your own tokens to work within this system, but it all needs to be "fueled" by eth.

PS! Before you expose anything of value to ethereum, even when it's fully up and running, you need to check if it's legally recognized by the relevant authorities. You can't normally just issue shares willy nilly (I understand it probably was just an example, but I thought I'd mention it).

[Chronikka]

Simple question and maybe this has been addressed someplace else, but from what I've been reading Ethereum will eventually allow anything to serve as a tradeble currency or "token" within the Ethereum ecosystem. So what is the purpose of the Ethereum currency itself (Eth)?

Say for example I'm a company and I want to issue shares. I want to do it simply with a friction-less system (i.e. instant with minimal fees) that allows me to issue or transfer shares easily, and publicly verify ownership. Based on Ethereum I can simply create shares from nothing and issue them within Ethereum. All the share holders have to do is prove they own an address which contains shares that I've created. Those shares would not exist outside of Ethereum but who cares? The point is just to have a publicly verifiable ledger that shows who owns what in my company. In this scenario I would have no need whatsoever for Eth, but I'm still using Ethereum. How would that work?

Edit - I've been thinking about it and the only thing I can think of is that Eth is what will be used to pay fees to support the entire Ethereum ecosystem. Using my previous example say there are a bunch of companies issuing shares. They have each created a token that is unique for their company. But now somebody wants to transfer some shares, which would require a small fee. Well what do you pay the fee in? tokens? Whose token? I think by providing an underlying base level currency (Eth) the developers will be able to get around this. Which would mean all fees are paid in Eth, but whats actually being transferred could be anything. Am I on the right track here?

Yup. Eth is the "fuel" to keep the network running. To do operations and pay miners. You can make your own tokens to work within this system, but it all needs to be "fueled" by eth.

PS! Before you expose anything of value to ethereum, even when it's fully up and running, you need to check if it's legally recognized by the relevant authorities. You can't normally just issue shares willy nilly (I understand it probably was just an example, but I thought I'd mention it).

I think Ethereum is exactly the sort of of platform that will allow things like that to happen "willy nilly" (using your term cuz I liked it)

There is no central authority that controls the creation of tokens, currency, digital soap bars, whatever you want right? So I would imagine all sorts of "illegal" things will be taking place on Ethereum. By that I mean people may attempt to circumvent laws, not actually selling illegal items.

[Fatman3001]

Simple question and maybe this has been addressed someplace else, but from what I've been reading Ethereum will eventually allow anything to serve as a tradeble currency or "token" within the Ethereum ecosystem. So what is the purpose of the Ethereum currency itself (Eth)?

Say for example I'm a company and I want to issue shares. I want to do it simply with a friction-less system (i.e. instant with minimal fees) that allows me to issue or transfer shares easily, and publicly verify ownership. Based on Ethereum I can simply create shares from nothing and issue them within Ethereum. All the share holders have to do is prove they own an address which contains shares that I've created. Those shares would not exist outside of Ethereum but who cares? The point is just to have a publicly verifiable ledger that shows who owns what in my company. In this scenario I would have no need whatsoever for Eth, but I'm still using Ethereum. How would that work?

Edit - I've been thinking about it and the only thing I can think of is that Eth is what will be used to pay fees to support the entire Ethereum ecosystem. Using my previous example say there are a bunch of companies issuing shares. They have each created a token that is unique for their company. But now somebody wants to transfer some shares, which would require a small fee. Well what do you pay the fee in? tokens? Whose token? I think by providing an underlying base level currency (Eth) the developers will be able to get around this. Which would mean all fees are paid in Eth, but whats actually being transferred could be anything. Am I on the right track here?

Yup. Eth is the "fuel" to keep the network running. To do operations and pay miners. You can make your own tokens to work within this system, but it all needs to be "fueled" by eth.

PS! Before you expose anything of value to ethereum, even when it's fully up and running, you need to check if it's legally recognized by the relevant authorities. You can't normally just issue shares willy nilly (I understand it probably was just an example, but I thought I'd mention it).

I think Ethereum is exactly the sort of of platform that will allow things like that to happen "willy nilly" (using your term cuz I liked it)

There is no central authority that controls the creation of tokens, currency, digital soap bars, whatever you want right? So I would imagine all sorts of "illegal" things will be taking place on Ethereum. By that I mean people may attempt to circumvent laws, not actually selling illegal items.

Sure, just don't assume that all contractual arrangements on ethereum are enforceable. If that is important to you then you need to check.

[Blue_Panda73]

Simple question and maybe this has been addressed someplace else, but from what I've been reading Ethereum will eventually allow anything to serve as a tradeble currency or "token" within the Ethereum ecosystem. So what is the purpose of the Ethereum currency itself (Eth)?

Say for example I'm a company and I want to issue shares. I want to do it simply with a friction-less system (i.e. instant with minimal fees) that allows me to issue or transfer shares easily, and publicly verify ownership. Based on Ethereum I can simply create shares from nothing and issue them within Ethereum. All the share holders have to do is prove they own an address which contains shares that I've created. Those shares would not exist outside of Ethereum but who cares? The point is just to have a publicly verifiable ledger that shows who owns what in my company. In this scenario I would have no need whatsoever for Eth, but I'm still using Ethereum. How would that work?

Edit - I've been thinking about it and the only thing I can think of is that Eth is what will be used to pay fees to support the entire Ethereum ecosystem. Using my previous example say there are a bunch of companies issuing shares. They have each created a token that is unique for their company. But now somebody wants to transfer some shares, which would require a small fee. Well what do you pay the fee in? tokens? Whose token? I think by providing an underlying base level currency (Eth) the developers will be able to get around this. Which would mean all fees are paid in Eth, but whats actually being transferred could be anything. Am I on the right track here?

How do your regulate the share issue system and protect investors? I think for investors, safety is the most important.

[loki0505]

Great read on Coindesk regarding Ethereum:

http://www.coindesk.com/16-blockchain-tech-predictions-2016/?utm_content=buffer5491f&utm_medium=social&utm_source=facebook.com&utm_campaign=buffer

[Chronikka]

Simple question and maybe this has been addressed someplace else, but from what I've been reading Ethereum will eventually allow anything to serve as a tradeble currency or "token" within the Ethereum ecosystem. So what is the purpose of the Ethereum currency itself (Eth)?

Say for example I'm a company and I want to issue shares. I want to do it simply with a friction-less system (i.e. instant with minimal fees) that allows me to issue or transfer shares easily, and publicly verify ownership. Based on Ethereum I can simply create shares from nothing and issue them within Ethereum. All the share holders have to do is prove they own an address which contains shares that I've created. Those shares would not exist outside of Ethereum but who cares? The point is just to have a publicly verifiable ledger that shows who owns what in my company. In this scenario I would have no need whatsoever for Eth, but I'm still using Ethereum. How would that work?

Edit - I've been thinking about it and the only thing I can think of is that Eth is what will be used to pay fees to support the entire Ethereum ecosystem. Using my previous example say there are a bunch of companies issuing shares. They have each created a token that is unique for their company. But now somebody wants to transfer some shares, which would require a small fee. Well what do you pay the fee in? tokens? Whose token? I think by providing an underlying base level currency (Eth) the developers will be able to get around this. Which would mean all fees are paid in Eth, but whats actually being transferred could be anything. Am I on the right track here?

How do your regulate the share issue system and protect investors? I think for investors, safety is the most important.

This is the point I was getting at. There is nobody to enforce any rules on how a token can be used, atleast not that I've seen. I think this will be a large avenue for abuse. Sure if I was a legitimate company or any other entity I would want to make sure everything is compliant and I'm not knowingly breaking any laws (I say knowingly because here in the US its incredibly easy to break an obscure law without even realizing) But what if I'm not a legitimate company, or just a bored scammer?

[almond]

maybe I'll get a referral fee........(lol)

https://www.reddit.com/r/ethtrader/comments/3zrkfu/looking_to_buy_large_swaths_of_eth_1_million_eth/

[Blue_Panda73]

Simple question and maybe this has been addressed someplace else, but from what I've been reading Ethereum will eventually allow anything to serve as a tradeble currency or "token" within the Ethereum ecosystem. So what is the purpose of the Ethereum currency itself (Eth)?

Say for example I'm a company and I want to issue shares. I want to do it simply with a friction-less system (i.e. instant with minimal fees) that allows me to issue or transfer shares easily, and publicly verify ownership. Based on Ethereum I can simply create shares from nothing and issue them within Ethereum. All the share holders have to do is prove they own an address which contains shares that I've created. Those shares would not exist outside of Ethereum but who cares? The point is just to have a publicly verifiable ledger that shows who owns what in my company. In this scenario I would have no need whatsoever for Eth, but I'm still using Ethereum. How would that work?

Edit - I've been thinking about it and the only thing I can think of is that Eth is what will be used to pay fees to support the entire Ethereum ecosystem. Using my previous example say there are a bunch of companies issuing shares. They have each created a token that is unique for their company. But now somebody wants to transfer some shares, which would require a small fee. Well what do you pay the fee in? tokens? Whose token? I think by providing an underlying base level currency (Eth) the developers will be able to get around this. Which would mean all fees are paid in Eth, but whats actually being transferred could be anything. Am I on the right track here?

How do your regulate the share issue system and protect investors? I think for investors, safety is the most important.

This is the point I was getting at. There is nobody to enforce any rules on how a token can be used, atleast not that I've seen. I think this will be a large avenue for abuse. Sure if I was a legitimate company or any other entity I would want to make sure everything is compliant and I'm not knowingly breaking any laws (I say knowingly because here in the US its incredibly easy to break an obscure law without even realizing) But what if I'm not a legitimate company, or just a bored scammer?

So we need authority like the US SEC, which regulates the US stock market at the moment. Maybe US SEC will use blockchain or Ethereum to issue shares.

[Winglessss]

I'm wondering if anyone has any price predictions for the coming year?  I believe BTC will double in price this year with the hashing rate halving.  I think that is a sure bet.  However I love the fact that ethereum is completely different, sounds very promising, love the world's computer tag line and everything else. 

Does the community (you guys) think the price of ETH will go above $2 USD per ETH this year?  I watched it go from nearly 50cents to $1 this past year.

[Piston Honda]

maybe one pump if you're lucky.
otherwise, same old price.

[loki0505]

I'm wondering if anyone has any price predictions for the coming year?  I believe BTC will double in price this year with the hashing rate halving.  I think that is a sure bet.  However I love the fact that ethereum is completely different, sounds very promising, love the world's computer tag line and everything else. 

Does the community (you guys) think the price of ETH will go above $2 USD per ETH this year?  I watched it go from nearly 50cents to $1 this past year.

just think.....the bottom is over with ....i don't see it in anyway going back down to lower than .80cents....so only way is up.  Why not invest 2-3hundred dollars now? to me that is a very very very low risk with great reward

[msin]

I'm wondering if anyone has any price predictions for the coming year?  I believe BTC will double in price this year with the hashing rate halving.  I think that is a sure bet.  However I love the fact that ethereum is completely different, sounds very promising, love the world's computer tag line and everything else. 

Does the community (you guys) think the price of ETH will go above $2 USD per ETH this year?  I watched it go from nearly 50cents to $1 this past year.

Well, first of all the hashing rate isn't halving, the block reward is halving.  So understand what that is before price predicting.  If the devs deliver on half of what they say for ETH, I can see it easily at $2-3 this year.

[loki0505]

Ethereum on Nasdaq.com today 01/07/2016:

http://www.nasdaq.com/article/microsofts-azure-blockchain-as-a-service-program-gains-momentum-cm562389

[Winglessss]

Yeah I have about $1500 to invest this coming Feb been keeping my eye here I'm prolly gonna do like $1000 into BTC and $500 into ETH.  I'm in my 30's Live in the US and only invest in crypto.  Wall street is going down or at the very least going to convert over and start using crypto. It's going to be an exciting 2016, BTC already up 7% and China already selling 14% of there stock market in 2 days.  Should have been more but you know governments.. . . .

2016 the year of cryptocurrency gaining more mainstream attention! 

[Abiky]

Great read on Coindesk regarding Ethereum:

http://www.coindesk.com/16-blockchain-tech-predictions-2016/?utm_content=buffer5491f&utm_medium=social&utm_source=facebook.com&utm_campaign=buffer

Based on what I have read in this article, there will be good stuff coming into Ethereum in this year. Especially, Microsoft which has been using Ethereum for its Azure platform.

I like this part specifically:

So while Ethereum, which is presently capable of 25 transactions per second (TPS), is not in danger of bumping up against difficult scaling issues soon, it will be able to handle many TPS with Ethereum version 2.0 – levels comparable with the Visa and American Express networks.

Once this occurs, we can expect technology giants like IBM to use Ethereum as the backbone to their Internet of Things platforms.

If Ethereum could reach the goal of handling many TPS, I have no doubt that it will rival VISA and Mastercard very soon. 

[S3cco]

Will Ethereum hit $95,000,000 in market cap in first half of 2016? Yes or no? Dare to bet in bitcoin?
https://www.betmoose.com/bet/ethereum-to-hit-95m-market-cap-before-jul-1-2016-1366?ref=scacco

[loki0505]

not sure, but i just reloaded on a bunch of ETH this morning

[loki0505]

ETH bout to be 1:1 with US Dollar!