[ANN] Ethereum: Welcome to the Beginning

[snowydog]

I probably do not know that much compared to the many more knowledgeable and learned people around here. I am looking at Ethereum and have a few questions after my analysis. Firstly, I think that the eth development team needs to be congratulated on creating a wonderful product that will add value to business in general. In my analysis I would like to separate distinctly the two matters of price/volume/circulation and the value/use of the blockchain services.

I looked at the Poloniex exchange and see that eth has insane volumes. I also looked at the explorer and saw that there are 77m coins in circulation. Lastly I looked at the depth chart on Poloniex and note that at the point of writing, at the arbitrarily chosen 165,000 satoshi price point there are 711,000 odd eth buy orders for 11,800 odd bitcoins.

I have the following questions about this:

1. I dont see eth coins being used anywhere for purchases. What is driving the demand? I can understand that the blockchain services is adding tremendous value to business but what is the relationship of that with the price and volume of the coin? It is one thing if the blockchain is being used by business but I am trying to understand the demand side from a sustainability point of view.
2. Compared to other coins if I do the same analysis it seems that eth is way off the chart to the right meaning that the price/volume/coins-in-circulation ratios are way off. My question is then, is there a risk that the current price increase could be a manipulation to create a deep buy order book for the most epic selloff of all time? I ask this since there are accounts with very large balances and 711,000 coins would not really damage those accounts. Alternatively, with the volume increase over the last month or two, 711,000 coins could have been accumulated for sudden release. Ethics and rationality could prevent something like this though but what about large number of bitcoins in the hands of less ethical persons that could make another 11,800 bitcoins?
3. How long will this price increase carry on and what might the buy order book look like in another month or two?
4. What would the impact be to the stability/trust of the virtual currency environment if this would happen?
5. The abnormal ratios do not seem natural. Am I just being paranoid and seeing ghosts that do not exit? Should I just go ahead, ignore the little voice and get into eth now?

I would appreciate feedback on these issues and if I am on the wrong track with the analysis please say so and why.

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[Mrpumperitis]

https://blog.ethereum.org/2016/03/05/serenity-poc2/

technical
Serenity PoC2
Posted by Vitalik Buterin on March 5th, 2016.
More precise validator induction rules – maximum 250 validators, minimum ether amount starts off at 1250 ETH and goes up hyperbolically with the formula min = 1250 * 250 / (250 - v) where v is the current active number of validators (ie. if there are 125 validators active, the minimum becomes 2500 ETH, if there are 225 validators active it becomes 12500 ETH, if there are 248 validators active it becomes 156250 ETH). When you are inducted, you can make bets and earn profits for up to 30 million seconds (~1 year), and after that point a special penalty of 100 parts per billion per block starts getting tacked on, making further validation unprofitable; this forces validator churn.....
does this mean i can only pos for a yr?

[notbatman]

I probably do not know that much compared to the many more knowledgeable and learned people around here. I am looking at Ethereum and have a few questions after my analysis. Firstly, I think that the eth development team needs to be congratulated on creating a wonderful product that will add value to business in general. In my analysis I would like to separate distinctly the two matters of price/volume/circulation and the value/use of the blockchain services.

I looked at the Poloniex exchange and see that eth has insane volumes. I also looked at the explorer and saw that there are 77m coins in circulation. Lastly I looked at the depth chart on Poloniex and note that at the point of writing, at the arbitrarily chosen 165,000 satoshi price point there are 711,000 odd eth buy orders for 11,800 odd bitcoins.

I have the following questions about this:

1. I dont see eth coins being used anywhere for purchases. What is driving the demand? I can understand that the blockchain services is adding tremendous value to business but what is the relationship of that with the price and volume of the coin? It is one thing if the blockchain is being used by business but I am trying to understand the demand side from a sustainability point of view.
2. Compared to other coins if I do the same analysis it seems that eth is way off the chart to the right meaning that the price/volume/coins-in-circulation ratios are way off. My question is then, is there a risk that the current price increase could be a manipulation to create a deep buy order book for the most epic selloff of all time? I ask this since there are accounts with very large balances and 711,000 coins would not really damage those accounts. Alternatively, with the volume increase over the last month or two, 711,000 coins could have been accumulated for sudden release. Ethics and rationality could prevent something like this though but what about large number of bitcoins in the hands of less ethical persons that could make another 11,800 bitcoins?
3. How long will this price increase carry on and what might the buy order book look like in another month or two?
4. What would the impact be to the stability/trust of the virtual currency environment if this would happen?
5. The abnormal ratios do not seem natural. Am I just being paranoid and seeing ghosts that do not exit? Should I just go ahead, ignore the little voice and get into eth now?

I would appreciate feedback on these issues and if I am on the wrong track with the analysis please say so and why.

Ehereum can and does function as a currency but there's a difference here, the ETH are consumed by the decentralized applications. If Bitcoin is digital money then Ethereum is digital energy.

[MaGNeT]

What does happen to ETH once they are used for a DAPP? Are they burned? Who gets them? Can the total amount of ETH decrease?

[notbatman]

What does happen to ETH once they are used for a DAPP? Are they burned? Who gets them? Can the total amount of ETH decrease?

The ETH can potentially be held for an infinite amount of time, or they can be released within minuets to whomever sent them; the applications run until terminated.

[smaxz]

is there any way to limit the bandwidth usage on geth?

something equal to the max connections value in coind would be great..

[mangox]

You can now buy Ethereum (ETH)  instantly using SOFORT, NETELLER, SEPA, Giropay, EPS on www.coinimal.com
No more waiting for a bank transfer or moving BTC between exchanges

[tbearhere]

How do I get Ethereum miner to recognize 2 cards on the same computer ?... it only mines one of 2 cards .nvidia 980ti at 22 mh/s.
It should have  -d 0,1 but doesn't work..like cuda should.
Thx

EDIT: This my bat file that doesn't work      

ethminer.exe  --farm-recheck 3000  -o http://eth-us.suprnova.cc:3001/razorsedge.eth1/22

On the donation bat file I get 1 card 980ti that gives 22 mh/s...but this bat file above doesn't work.
My main thing is to get one card working.
Please help.
thx
EDIT:I have
ethminer.exe --farm-recheck 3000 -U -F http://eth-us.suprnova.cc:3001/razorsedge.eth1/22  --opencl-platform 1
Working now with only 1 card.
I have 2 750ti too on the rig.

Still won't mine with the other 980ti card......

EDIT: I got it
On cuda devices are called out with the -d argument ...but he changed that.
So ethminer -G --opencl-device 0     ethminer -G --opencl-device 2       =    -d 0,2    ect.

[munteanudoru]

here is the first faucets rotator for ETHER
http://www.ethereum-rotator.club/

[yurimir]

5 Reasons Why We Invested In Ethereum (ETH) - By Tai Zen & Eric Gerber

https://www.youtube.com/watch?v=U29f8ks13l8&feature=youtu.be

Ethereum Knocks on Wall Street Doors and Gets in Too!

http://www.newsbtc.com/2016/03/06/ethereum-knocks-on-wall-street/

[kosaet]

drinking, watching eth , soon 0.2btc for 1eth, and one song https://www.youtube.com/watch?v=Il61bCC4g3w

[sputnik1]

dumping now

[tbearhere]

dumping now

Then it's time to buy for the next pump

[kosaet]

i buy in 0.026, amd i am very glad


PS, how much post i need for hero member, lazy to check

OMG, I AM HERO MEMBER NOW !!! CONGRATULATIONS DARTH VADER !!!!!!!!!

[Piston Honda]

dem knives doe!!!!!!111!!1

[mangox]

5 Reasons Why We Invested In Ethereum (ETH) - By Tai Zen & Eric Gerber

https://www.youtube.com/watch?v=U29f8ks13l8&feature=youtu.be

Ethereum Knocks on Wall Street Doors and Gets in Too!

http://www.newsbtc.com/2016/03/06/ethereum-knocks-on-wall-street/

1 ETH = 0.4 btc

[notbatman]

Gentlemen, I'm pretty confident we are the new wealthy elite.  

 

I've been seeing a pattern of heavy weekend profit taking. I suspect the proceeds are being used for real estate, fast cars, large breasted women and weekend benders involving substance abuse.

You sure are....because nvidia's most popular card can't mine it.

It can mine it, just not efficiently.

Years ago back in late 2013 I got an old used Radeon HD5970 and a 2TH/s ASIC pre-order. The HD5970 ROI'd in less than week and it still mines ETH at about 30MH/s. However, I'm still waiting for my ASIC pre-order to arrive. They told me "next week", I'm sure it will arrive any day now....

EDIT:

On an unrelated note I got an Nvidia GTX590 and the Radeon HD5970 running bridged in the same box with Windows 10 and DX12. They ran for about 30 seconds before the 1200W gold PSU said no way. I wonder how MS got the cats and dogs to live together like that.

[bolt1909]

How do I get Ethereum miner to recognize 2 cards on the same computer ?... it only mines one of 2 cards .nvidia 980ti at 22 mh/s.
It should have  -d 0,1 but doesn't work..like cuda should.
Thx

EDIT: This my bat file that doesn't work      

ethminer.exe  --farm-recheck 3000  -o http://eth-us.suprnova.cc:3001/razorsedge.eth1/22

On the donation bat file I get 1 card 980ti that gives 22 mh/s...but this bat file above doesn't work.
My main thing is to get one card working.
Please help.
thx
EDIT:I have
ethminer.exe --farm-recheck 3000 -U -F http://eth-us.suprnova.cc:3001/razorsedge.eth1/22  --opencl-platform 1
Working now with only 1 card.
I have 2 750ti too on the rig.

Still won't mine with the other 980ti card......

Mining configuration:
    -C,--cpu  When mining, use the CPU.
    -G,--opencl  When mining use the GPU via OpenCL.
    -U,--cuda  When mining use the GPU via CUDA.
    --opencl-platform <n>  When mining using -G/--opencl use OpenCL platform n (default: 0).
    --opencl-device <n>  When mining using -G/--opencl use OpenCL device n (default: 0).
    -t, --mining-threads <n> Limit number of CPU/GPU miners to n (default: use everything available on selected platform)
    --allow-opencl-cpu Allows CPU to be considered as an OpenCL device if the OpenCL platform supports it.
    --list-devices List the detected OpenCL/CUDA devices and exit.
    --current-block Let the miner know the current block number at configuration time. Will help determine DAG size and required GPU memory.
    --cl-extragpu-mem Set the memory (in MB) you believe your GPU requires for stuff other than mining. Windows rendering e.t.c..
    --cl-local-work Set the OpenCL local work size. Default is 64
    --cl-global-work Set the OpenCL global work size as a multiple of the local work size. Default is 4096 * 64
    --cl-ms-per-batch Set the OpenCL target milliseconds per batch (global workgroup size). Default is 0. If 0 is given then no autoadjustment of global work size will happen
    --cuda-extragpu-mem Set the memory (in MB) you believe your GPU requires for stuff other than mining. Windows rendering e.t.c..
    --cuda-block-size Set the CUDA block work size. Default is 128
    --cuda-grid-size Set the CUDA grid size. Default is 2048
    --cuda-streams Set the number of CUDA streams. Default is 2
    --cuda-schedule <mode> Set the schedule mode for CUDA threads waiting for CUDA devices to finish work. Default is sync. Possible values are:
        auto  - Uses a heuristic based on the number of active CUDA contexts in the process C and the number of logical processors in the system P. If C > P, then yield else spin.
        spin  - Instruct CUDA to actively spin when waiting for results from the device.
        yield - Instruct CUDA to yield its thread when waiting for results from the device.
        sync  - Instruct CUDA to block the CPU thread on a synchronization primitive when waiting for the results from the device.
    --cuda-devices <0 1 ..n> Select which GPUs to mine on. Default is to use all

[notbatman]

How do I get Ethereum miner to recognize 2 cards on the same computer ?... it only mines one of 2 cards .nvidia 980ti at 22 mh/s.
It should have  -d 0,1 but doesn't work..like cuda should.
Thx

EDIT: This my bat file that doesn't work      

ethminer.exe  --farm-recheck 3000  -o http://eth-us.suprnova.cc:3001/razorsedge.eth1/22

On the donation bat file I get 1 card 980ti that gives 22 mh/s...but this bat file above doesn't work.
My main thing is to get one card working.
Please help.
thx
EDIT:I have
ethminer.exe --farm-recheck 3000 -U -F http://eth-us.suprnova.cc:3001/razorsedge.eth1/22  --opencl-platform 1
Working now with only 1 card.
I have 2 750ti too on the rig.

Still won't mine with the other 980ti card......

...clip...

My best guess, you need two instances and specify the CUDA device in each instance.

Code:

ethminer.exe --farm-recheck 3000 -U -F http://eth-us.suprnova.cc:3001/razorsedge.eth1/22   --opencl-platform 1 --cuda-devices 0

Code:

ethminer.exe --farm-recheck 3000 -U -F http://eth-us.suprnova.cc:3001/razorsedge.eth1/22   --opencl-platform 1 --cuda-devices 1

--cuda-devices <0 1 ..n> Select which GPUs to mine on. Default is to use all

It says all CUDA devices are used by default so I don't know why two instances should be needed. Use the following to see if both cards are detected:

--list-devices List the detected OpenCL/CUDA devices and exit.

Code:

ethminer.exe --list-devices

[tbearhere]

i buy in 0.026, amd i am very glad


PS, how much post i need for hero member, lazy to check

OMG, I AM HERO MEMBER NOW !!! CONGRATULATIONS DARTH VADER !!!!!!!!!

I'm waiting for Legendary