[ANN] Ethereum: Welcome to the Beginning

[Blazin8888]

I am very glad to see great projects with brilliant minds behind them such as ETH. Keep buying and holding. There is a storm brewing in the crypto world....I believe blockchain tech will take the world by storm soon...revolutionize everything around us...ETH is the key to all this..but BTS is too...I doubt BTS is gonna stay under 1 cent USD much longer. After that press and what's happening now it is going to explode. Finally it's good to see some innovation in the Crypto world. Mainstream adoption is around the corner my friends.  

A. http://www.forbes.com/sites/rogeraitken/2015/10/10/openledgers-crypto-financial-platform-officially-launching-as-central-bank-interest-revealed/

B. http://www.forbes.com/sites/rogeraitken/2015/09/16/bitcoin-exchange-ccedk-set-to-unveil-groundbreaking-crypto-platform-at-global-money-summit/

C. http://www.forbes.com/sites/rogeraitken/2015/07/16/is-the-nanocard-bitcoins-killer-app-can-it-transform-the-global-remittance-market/  

1. Why this will benefit ETH and BTC:


It will bring "mainstream" money into Bitcoin related things....if Bitshares takes off....I believe Bitcoin will too....so will ETH..this just further empowers this ecosystem...Bitcoin was first and it will act as Digital gold....there is already a ton of infastructure around BTC being developed still and I think BTS doing well is only going to bring more light to BTC. Banx.io is using the Bitshares blockchain for there exchange and the entire BanX ecosystem is designed to support the Bitcoin economy. Please check out BanX capital and how they are tied into Bitshares.

http://banxcapital.com/                ---> BanX is designing products to support the BTC economy. BanX is also hopping on to the BITSHARES 2.0 platform when it launches. www.bitshares.org


We as a community need to support great projects such as ETH , BTS, BANX because they empower our econemy as a whole.

[Fatman3001]

Fr@ck sakes Blazin!

Are you going to spam this thread as well?

[Blazin8888]

Fuck sakes Blazin!

Are you going to spam this thread as well?

I am simply speaking my mind if you have an issue go somewhere else Fatman.

[Fatman3001]

I am simply speaking my mind if you have an issue go somewhere else Fatman.

No, you're not. Go shill somewhere else.

[ocminer]

Honestly.. Trying to compare Bitshares with ETH is like comparing a Doner Kebab with a 5 star 5 course menu including appetizer and dessert :-)

Please don't Hijack this thread for your commercial stuff... You can simply open a new thread or post in the correct thread ..

[fartbags]

Any update on when PoS will be available as an option to remove PoW?

Yes i would like to know the same thing?

This would be a huge step forward in all of crypto. PoW is super powerful but it makes it extremely hard to start a new coin. PoS will be secure with only a few users.

[Fatman3001]

Any update on when PoS will be available as an option to remove PoW?

Yes i would like to know the same thing?

This would be a huge step forward in all of crypto. PoW is super powerful but it makes it extremely hard to start a new coin. PoS will be secure with only a few users.

In theory. I'd like to see a crypto with some proper exposure run PoS for a while before I trust it completely.

[Xpedite]

In theory. I'd like to see a crypto with some proper exposure run PoS for a while before I trust it completely.

Why, what's your issue with PoS ??

[Fatman3001]

In theory. I'd like to see a crypto with some proper exposure run PoS for a while before I trust it completely.

Why, what's your issue with PoS ??

I just see it as unproven technology. Until it's seen off attacks by motivated attackers and the wims of a diverse community I fear there's something that's been missed or underestimated. I sort of feel the same way about PoW to a certain degree, but it's been put through hell and survived.

I think the first real exposure of PoS (where there will be sufficient incentive to concentrate resources to attack) will be with ethereum, so it's probably best to get it in place as early as possible so problems can be ironed out before too many businesses rely on it. At the moment, everyone involved in ethereum accepts that there's risk involved in being early. That won't last forever.

[Furio]

In theory. I'd like to see a crypto with some proper exposure run PoS for a while before I trust it completely.

Why, what's your issue with PoS ??

I just see it as unproven technology. Until it's seen off attacks by motivated attackers and the wims of a diverse community I fear there's something that's been missed or underestimated. I sort of feel the same way about PoW to a certain degree, but it's been put through hell and survived.

I think the first real exposure of PoS (where there will be sufficient incentive to concentrate resources to attack) will be with ethereum, so it's probably best to get it in place as early as possible so problems can be ironed out before too many businesses rely on it. At the moment, everyone involved in ethereum accepts that there's risk involved in being early. That won't last forever.

Staking has been disprroved many times by many calculations, it leads to holding, centralizing and in my own views has litttle to do with crypto, since spending is out of the question

[OrientA]

Staking has been disprroved many times by many calculations, it leads to holding, centralizing and in my own views has litttle to do with crypto, since spending is out of the question

The only benefit of staking is the saving of electricity.

[Fatman3001]

Staking has been disprroved many times by many calculations, it leads to holding, centralizing and in my own views has litttle to do with crypto, since spending is out of the question

The only benefit of staking is the saving of electricity.

There's little doubt that that is a significant saving. As a miner myself, I wouldn't mind if they stuck to PoW, but there's no denying the positive value of a power efficient network. I have severe doubts about PoS for BTC, but I think the social, economic and technological dynamics are different for Ethereum. I just don't know if they're different enough.

[BitmoreCoin]

The cost of PoW mining of Eth gives its value.

[LiQio]

The cost of PoW mining of Eth gives its value.

Interesting. Has the hashrate declined since launch?

[Fatman3001]

The cost of PoW mining of Eth gives its value.

I don't think it's as simple as that even with BTC. A mature PoW network gives you stability. It shows that there is trust in the network. That adds to BTCs utility.

But Ethereum is 100% useful the second you can launch your ethereum-based application. It doesn't matter as much if the token fluctuates in price as long as what you're running on the network is valuable to you and costs are 90%-99% cheaper than a conventional service.

[BitmoreCoin]

The cost of PoW mining of Eth gives its value.

Interesting. Has the hashrate declined since launch?

The price decline is mainly because of the large amount of ICO and extra issued coin since the launch.

The electricity cost of 1 Eth is around $0.6 if the electricity price is around $0.2 when the network hash rate is around 400GH/s.

[LiQio]

The cost of PoW mining of Eth gives its value.

Interesting. Has the hashrate declined since launch?

The price decline is mainly because of the large amount of ICO and extra issued coin since the launch.

The electricity cost of 1 Eth is around $0.6 if the electricity price is around $0.2 when the network hash rate is around 400GH/s.

Why, was this not expected, was it not announced before?

Does the price of electricity really go down when the hash rate increases?

[wildduck]

The cost of PoW mining of Eth gives its value.

Interesting. Has the hashrate declined since launch?

The price decline is mainly because of the large amount of ICO and extra issued coin since the launch.

The electricity cost of 1 Eth is around $0.6 if the electricity price is around $0.2 when the network hash rate is around 400GH/s.

Can you explain how the electricity price goes down when the hase rate increase?

[BitmoreCoin]

The cost of PoW mining of Eth gives its value.

Interesting. Has the hashrate declined since launch?

The price decline is mainly because of the large amount of ICO and extra issued coin since the launch.

The electricity cost of 1 Eth is around $0.6 if the electricity price is around $0.2 when the network hash rate is around 400GH/s.

Can you explain how the electricity price goes down when the hase rate increase?

Sorry for the confusion. It should be:
The electricity cost of 1 Eth is around $0.6 if the electricity price is around $0.2 and when the network hash rate is around 400GH/s.

When the network hash rate increases, for the same amount of electricity cost (power), you get less Eth. So the break even price of your mined coin is going up. The electricity price per kWh is fixed.

[pawel7777]

...

When the network hash rate increases, for the same amount of electricity cost (power), you get less Eth. So the break even price of your mined coin is going up. The electricity price per kWh is fixed.

Mining cost doesn't create the value. That's a popular myth.
If you are pure for-profit-miner, you dump your coins for whatever the current market value is. If it's lower than your cost, you'll just stop mining.

Market (buy/sell orders) is shaping the price and influencing hash-rate size, not the other way around.

At very best, current cost/coin can only create psychological expectation of what the price should be.