[ANN] Ethereum: Welcome to the Beginning

[zmhaha]

Do you think ETH should overcome BTC or they can live together?

It depends on many things! In my opinion, it depends will ethereum be developed and work as advertised. If this really happens, it depends a lot on Bitcoin too. If Bitcoin screws up, Ethereum will gladly take its position. If Bitcoin doesn't screw up, Ethereum still has its originaluse case, a smart contract platform. 

I don't know, I guess that users will decide in the end. I like the fact that I am involved in both so let the best win.

I do have to admit that Bitcoin is in a good way to screw up at the moment, mostly by its inactivity and 0 readiness to a change.

We will see everything!

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[Blue_Panda73]

Do you think ETH should overcome BTC or they can live together?

They will live together for the next few years. Ether is mainly used in the smart contract system. It is also a currency.

[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

Ethereum reached the target. Congrats to the winners. Let's go ahead with another one.

Will Ethereum hit $155,000,000 in market cap in first half of 2016? Yes or no?
https://www.betmoose.com/bet/ethereum-to-hit-155m-market-cap-before-jul-1-2016-1436?ref=scacco

[loki0505]

it's getting REAL out here boys:

http://www.ibtimes.co.uk/r3-connects-11-banks-distributed-ledger-using-ethereum-microsoft-azure-1539044

GET ETH NOW

[fuze0000]

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

Ethereum reached the target. Congrats to the winners. Let's go ahead with another one.

Will Ethereum hit $155,000,000 in market cap in first half of 2016? Yes or no?
https://www.betmoose.com/bet/ethereum-to-hit-155m-market-cap-before-jul-1-2016-1436?ref=scacco

My goal is to own at least 300 Ethereum by the end of this month.  100 Ethereum by the end of the year.

[loki0505]

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

Ethereum reached the target. Congrats to the winners. Let's go ahead with another one.

Will Ethereum hit $155,000,000 in market cap in first half of 2016? Yes or no?
https://www.betmoose.com/bet/ethereum-to-hit-155m-market-cap-before-jul-1-2016-1436?ref=scacco

My goal is to own at least 300 Ethereum by the end of this month.  100 Ethereum by the end of the year.

Good luck bud, you'll be there in no time!  Here is where I'm currently at:

[daigitinasam]

Can you guys give me a link for ETH wallet? Can`t find it in OP

[TrueAnon]

i cant get enough of this,lol cheers for filling my orders and ive set a few more traps....remember this...ETH could go down in price but whoever dumps large amounts, you will not get your coins back cheaper  
With so much happening with ETH tech wise and the behind the scenes major development   , ETH will be $10+ within 3-6months, imo ETH will be number 2, worth over a $billion cap and if btc keeps fkn up we could see the unthinkable...ETH becomes #1
In this coin for the long term, accumulate as much as you can, sit back and relax  

LOL yes ETH is great and all (potentially great) but wow you guys do quite the job at manipulating the marketing and getting everyone on the hype-train to shill and buy-buy-buy now while your groupS pump it and have everyone buying now...when we all (some of us know) it'll dump back down and you guys will disappear for another 3-6 months only to pop up again to re-hype it while it's pumped back up again.

I'm all for $10 ETH but ppl need to be realistic here, so please do spread such crap. $10 in 3-6 months? lol i HIGHLY doubt it.  I'll give you maybe $2...$5 would be a super long shot even.  If BTC flies to $600usd each come halving in June...ETH will for sure drop back down.

Right now you guys are enjoying SELLING to us near 400k when u guys probably filled your bags at 160k-260k...and are enjoying profit on our backs (or those silly enough to be late to the party and be buying now).  

If I'm wrong in the next 3-6 months feel free to call me out on it but given your lofty targets and how alts always pull the same shit (including dash and eth), I think this possibility above more believable than yours.

[loki0505]

i cant get enough of this,lol cheers for filling my orders and ive set a few more traps....remember this...ETH could go down in price but whoever dumps large amounts, you will not get your coins back cheaper  
With so much happening with ETH tech wise and the behind the scenes major development   , ETH will be $10+ within 3-6months, imo ETH will be number 2, worth over a $billion cap and if btc keeps fkn up we could see the unthinkable...ETH becomes #1
In this coin for the long term, accumulate as much as you can, sit back and relax  

LOL yes ETH is great and all (potentially great) but wow you guys do quite the job at manipulating the marketing and getting everyone on the hype-train to shill and buy-buy-buy now while your groupS pump it and have everyone buying now...when we all (some of us know) it'll dump back down and you guys will disappear for another 3-6 months only to pop up again to re-hype it while it's pumped back up again.

I'm all for $10 ETH but ppl need to be realistic here, so please do spread such crap. $10 in 3-6 months? lol i HIGHLY doubt it.  I'll give you maybe $2...$5 would be a super long shot even.  If BTC flies to $600usd each come halving in June...ETH will for sure drop back down.

Right now you guys are enjoying SELLING to us near 400k when u guys probably filled your bags at 160k-260k...and are enjoying profit on our backs (or those silly enough to be late to the party and be buying now).  

If I'm wrong in the next 3-6 months feel free to call me out on it but given your lofty targets and how alts always pull the same shit (including dash and eth), I think this possibility above more believable than yours.

Great comment TrueAnon - I don't believe $10 in 2016....but if it hits $5....I'll be one happy camper.  Also, as an FYI - I'm here for the long haul...no selling here..i'm just stacking stacking stacking

[samspaces]

Does ETH have a block size issue like Bitcoin?
Does ETH have known scaling hurdles like Bitcoin?
Does ETH have confirmation slowness like Bitcoin?
Does ETH POS have holes that will eventually be its downfall?

So, no answers?

[Chronikka]

Does ETH have a block size issue like Bitcoin?
Does ETH have known scaling hurdles like Bitcoin?
Does ETH have confirmation slowness like Bitcoin?
Does ETH POS have holes that will eventually be its downfall?

So, no answers?

Ethereum does not have a hard coded Block Limit like Bitcoin. Ethereum employs a slightly different system. The number of "contracts" or standard transactions occurring on the Ethereum Blockchain is limited. I remember seeing somewhere that its like 1.20 times the exponential moving average. This effectively means that only so much "gas" can be expended per block which is a limit to the block size, albeit a different kind of limit compared to Bitcoin. In Bitcoin this would be like saying there's no limit to the block size but a block is only allowed to contain a maximum of "X" transactions. Its a different kind of limit.

I'm not exactly sure how this would affect scaling but my guess is that Ethereum will scale more easily than Bitcoin. The amount of "gas" being expended per block will be adjusted upward as blocks become more full, which will make blocks bigger automatically. The only thing I'm not sure about is how they decided on 1.2 times the moving average.

Confirmation times are perfectly fine in Ethereum. Average time is about 12 seconds (in theory), so its significantly faster to confirm compared to Bitcoin. Even if the Ethereum network was operating above capacity, the short block times should allow Ethereum to clear any backlogs significantly faster than Bitcoin does.

As for POS I'm not sure what the long term plans are. I believe they are still working on the POS implementation, but I would expect something fairly innovative since the Etehreum team has a tendency to want to improve on existing tech. Maybe somebody else can provide some information about the impending POS system?

[Febo]

Can you guys give me a link for ETH wallet? Can`t find it in OP

Aparently Etherium Mist is most simple:
https://github.com/ethereum/mist/releases

I installed it a week ago and then when only run Ethereum-Wallet.exe , wallet opened but searching for pears and not syncing. Today finaly had more time and run. both exe files in node folder  geth.exe and  eth.exe

Now is syncing and hope all will be fine. Now only need 1 Ether, so if someone have one to many can send it this way: 0x004a995cdfcbd98b2f92fae6661e7a68698ee6c6

[Mrpumperitis]

i cant get enough of this,lol cheers for filling my orders and ive set a few more traps....remember this...ETH could go down in price but whoever dumps large amounts, you will not get your coins back cheaper  
With so much happening with ETH tech wise and the behind the scenes major development   , ETH will be $10+ within 3-6months, imo ETH will be number 2, worth over a $billion cap and if btc keeps fkn up we could see the unthinkable...ETH becomes #1
In this coin for the long term, accumulate as much as you can, sit back and relax  

LOL yes ETH is great and all (potentially great) but wow you guys do quite the job at manipulating the marketing and getting everyone on the hype-train to shill and buy-buy-buy now while your groupS pump it and have everyone buying now...when we all (some of us know) it'll dump back down and you guys will disappear for another 3-6 months only to pop up again to re-hype it while it's pumped back up again.

I'm all for $10 ETH but ppl need to be realistic here, so please do spread such crap. $10 in 3-6 months? lol i HIGHLY doubt it.  I'll give you maybe $2...$5 would be a super long shot even.  If BTC flies to $600usd each come halving in June...ETH will for sure drop back down.

Right now you guys are enjoying SELLING to us near 400k when u guys probably filled your bags at 160k-260k...and are enjoying profit on our backs (or those silly enough to be late to the party and be buying now).  

If I'm wrong in the next 3-6 months feel free to call me out on it but given your lofty targets and how alts always pull the same shit (including dash and eth), I think this possibility above more believable than yours.

so im spreading crap, cause...you highly doubt...who are you to decide what price eth could be??  , few weeks till homestead and augur, many awesome dapps and a few banks involved, in 6months we will be near POS, if you think it will be $5...good for u.
Also im not stupid to sell large amounts of ETH under 0.004, i wont beable to buy them back at these prices, like many others i am In this coin for the long term, accumulating as much as i can for the pos stage, ive invested in many pos coins because i know the only people that do well in pos are early adopters that bought cheap. yes i bought at 0.002 and 0.0025 and 0.003 and ill keep buying because i believe ETH is undervalued, thats my opinion and its my $$. You think about us pushing price down...maybe think who is keeping the price up? 
You say "If BTC flies to $600usd each come halving in June...ETH will for sure drop back down"  i  disagree, ETH price will rise with money coming to crypto through BTC, like LTC went to $50 when btc went to $1k, same thing will happen but this time it will be ETH rising with btc, if btc has cap of $10bill+ ETH will have a cap of $1bill+
As for the pump n dump shit u talking...well done sherlock you figured out how pnd groups work,lol    thats true on most shit coins...not ETH

[TrueAnon]

i cant get enough of this,lol cheers for filling my orders and ive set a few more traps....remember this...ETH could go down in price but whoever dumps large amounts, you will not get your coins back cheaper  
With so much happening with ETH tech wise and the behind the scenes major development   , ETH will be $10+ within 3-6months, imo ETH will be number 2, worth over a $billion cap and if btc keeps fkn up we could see the unthinkable...ETH becomes #1
In this coin for the long term, accumulate as much as you can, sit back and relax  

LOL yes ETH is great and all (potentially great) but wow you guys do quite the job at manipulating the marketing and getting everyone on the hype-train to shill and buy-buy-buy now while your groupS pump it and have everyone buying now...when we all (some of us know) it'll dump back down and you guys will disappear for another 3-6 months only to pop up again to re-hype it while it's pumped back up again.

I'm all for $10 ETH but ppl need to be realistic here, so please do spread such crap. $10 in 3-6 months? lol i HIGHLY doubt it.  I'll give you maybe $2...$5 would be a super long shot even.  If BTC flies to $600usd each come halving in June...ETH will for sure drop back down.

Right now you guys are enjoying SELLING to us near 400k when u guys probably filled your bags at 160k-260k...and are enjoying profit on our backs (or those silly enough to be late to the party and be buying now).  

If I'm wrong in the next 3-6 months feel free to call me out on it but given your lofty targets and how alts always pull the same shit (including dash and eth), I think this possibility above more believable than yours.

so im spreading crap, cause...you highly doubt...who are you to decide what price eth could be??  , few weeks till homestead and augur, many awesome dapps and a few banks involved, in 6months we will be near POS, if you think it will be $5...good for u.
Also im not stupid to sell large amounts of ETH under 0.004, i wont beable to buy them back at these prices, like many others i am In this coin for the long term, accumulating as much as i can for the pos stage, ive invested in many pos coins because i know the only people that do well in pos are early adopters that bought cheap. yes i bought at 0.002 and 0.0025 and 0.003 and ill keep buying because i believe ETH is undervalued, thats my opinion and its my $$. You think about us pushing price down...maybe think who is keeping the price up?  
You say "If BTC flies to $600usd each come halving in June...ETH will for sure drop back down"  i  disagree, ETH price will rise with money coming to crypto through BTC, like LTC went to $50 when btc went to $1k, same thing will happen but this time it will be ETH rising with btc, if btc has cap of $10bill+ ETH will have a cap of $1bill+
As for the pump n dump shit u talking...well done sherlock you figured out how pnd groups work,lol    thats true on most shit coins...not ETH

Your butthurt defensiveness only goes to further prove my point and that I'm most likely correct.

[Mrpumperitis]

R3 connects 11 banks to distributed ledger using Ethereum and Microsoft Azure knew this last week 

[Chronikka]

R3 connects 11 banks to distributed ledger using Ethereum and Microsoft Azure knew this last week  

They forked Ethereum and will run their own private chain. Its great exposure but I'm not sure it actually helps other than to get minor publicity for the original Ethereum.

[msin]

R3 connects 11 banks to distributed ledger using Ethereum and Microsoft Azure knew this last week  

They forked Ethereum and will run their own private chain. Its great exposure but I'm not sure it actually helps other than to get minor publicity for the original Ethereum.

Yes, they forked Ethereum for testing.  But there is rumor they would like to be on a public chain, so who knows at this point.  Regardless, it's good news for Ethereum legitimacy.

[calkob]

Is it not the case that a private forked chain will be vulnerable because of its lack of hash power and its closed nature?  watch andreas antonopoulous taking about bubble boy on youtube. 

https://www.youtube.com/watch?v=810aKcfM__Q

[tat123]

Does ETH have a block size issue like Bitcoin?
Does ETH have known scaling hurdles like Bitcoin?
Does ETH have confirmation slowness like Bitcoin?
Does ETH POS have holes that will eventually be its downfall?

So, no answers?

I actually had some questions about scaling because of AnonyMints analysis about Ethereum. I started a thread on Ethereum Reddit asking this question to the community. Chris, who is a developer for Slock-it replied by providing me with a couple of videos from Devcon1, where Vitalik addresses these issues. After watching the video I discovered they are trying to scale ETH with a technique called sharding. This was the remark I made...

So the solution is to make it asynchronous through Merkle tree receipts? Transactions having access to Merkle roots from previous blocks, and reading the previous global state root. Which doesn't modify anything globally, but just reading a historic root. Which doesn't prevent parallel computation? Again, not an expert, just trying to understand if there is a solution on the horizon. Thanks again.

AnonyMint replied...

Afaics, none of these directions Ethereum is headed deal with the economic issue I outlined in my first post in this Reddit thread:

https://www.reddit.com/r/ethereum/comments/41a3nb/is_anonymint_correct/cz0r3d5

As for their scalability ideas (which again do not address the economic problem of inequality of gas fees I outlined), they are going down the same throught process that I went through in my analysis of how to scale a consensus system. My thought process is far ahead of theirs, and they will later realize that what they have designed is a total failure. The reason is because the CAP theorem is violated by Proof of Evidence aka Proof of Cheating (which is also one of the reasons why Bitcoin's proposed Segregated Witness will fail). Refer to my decentralization thread in the Altcoin Discussion forum at Bitcointalk for more details of the relevance of the CAP theorem. I am not eager to drill down and convince them of this, because I don't want to give then my design.

In short, scalability requires centralization. I ultimately realized it is how the centralization is structured that allows for decentralized control. That was my key epiphany.



I respect AnonyMint, and the Ethereum Devs, so which one is correct? I have no clue. It is way above my pay grade. My bet is on Vitalik, but AnonyMints comments should have at least been addressed, rather than being called a scammer by some idiot who only cares about rainbows and sunshine.

If any other experts out there can shed some light on whether sharding is possible, or not... please chime in.

Here is a couple of links to the videos...

https://www.youtube.com/watch?v=-QIt3mKLIYU&list=PLgQrb_z7oTH4VHfW_ZCnNyzd5N9nULpvA&index=18
https://www.youtube.com/watch?v=1KaQsrqC94s&list=PLgQrb_z7oTH4VHfW_ZCnNyzd5N9nULpvA&index=20

And if any shills or bandwagon traders have a problem with my post because I asked a question and provided AnonyMints comments... piss off! Because the truth will come out either way. Better to know now, then to find out later. Like i said, more people need to chime in who have the skills. And that doesn't include you Spoetnik. Your posts about Ethereum are no different than a dog barking at the Mailman.  

[Mrpumperitis]

R3 connects 11 banks to distributed ledger using Ethereum and Microsoft Azure knew this last week  

They forked Ethereum and will run their own private chain. Its great exposure but I'm not sure it actually helps other than to get minor publicity for the original Ethereum.

true , but i think its because they need to test...before they use the public chain, which should be more secure.
Richard Herbert, chief information officer, global banking and markets, at HSBC, said: "The new R3 globally accessible lab environment is enabling both R3 and member banks to collaborate technically on experiments related to shared ledger and smart contracts technology. As demonstrated by the first project that is already up and running, this lab platform will aid faster experimentation, provide technical agility and aid learning greatly."

Alex Batlin, UBS senior innovation manager, added: "Proving the scale and peer-to-peer operation of blockchain experiments is an important next step in this transformational initiative. Through connecting 11 bank labs into a simulated-real-world network, we're able to establish the platform we need to test our theories effectively in a safe environment."

Banks using eth to issue their own current currencies as digital tokens and contracts with safety, cost reduction, private transactions and eventually speed of blockchain, makes sense to me.