[ANN] Ethereum: Welcome to the Beginning

[Mrpumperitis]

21 Jul 2016
                                           Coinbase adds support for Ethereum

We are pleased to announce that Coinbase is adding support for Ethereum. Consumers can now easily buy, sell, send, and store Ether in their Coinbase account. To get started, visit the “Trade” page on Coinbase.com or tap on “Buy” or “Sell” options in our iOS or Android apps.

https://blog.coinbase.com/2016/07/21/coinbase-adds-support-for-ethereum/

There has been a lot of activity in Ethereum recently: the largest crowdfunding in history (The DAO), the subsequent attack on The DAO, and a resulting hard fork. Ethereum is still in an early and experimental phase, and as it matures will likely evolve to serve a different purpose than Bitcoin. In the meantime, Ethereum is pushing the digital currency ecosystem forward and we are excited to support it as part of our mission to create an open financial system for the world.

In May, we added Ethereum trading on GDAX, our professional digital asset exchange. With the addition of Ethereum on Coinbase, consumers in 32 countries can acquire Ether and take part in an open financial system facilitated by Ethereum and Bitcoin.

Finally, we recently announced the Coinbase Buy Widget, a tool for trusted partners to embed Coinbase’s buying service within their sites and apps. The Coinbase Buy Widget now also supports ETH purchases in addition to BTC.

To learn more about Ethereum, please visit our page about Ethereum and check out this post by our co-founder Fred Ehrsam.

Your feedback is important to us. Feel free to reach out to us at our Community Forum. If you don’t have a Coinbase account, sign up here!
 
WOW

[becoin]

Coinbase adds support for Ethereum

Which one of the three ethereums we currently have, pumpy?

[iCEBREAKER]

                                           Coinbase adds support for Ethereum

https://twitter.com/SatoshiShinohai/status/755781426578984961

Shit is still shit, even if you scare all the flies off.


Bitcoin is antifragile.  Ethereum, not so much.

Cites:

http://elaineou.com/2016/07/18/stick-a-fork-in-ethereum/#forkyou

The DAO controlled $150M worth of ether, and an attacker exploited a bug to extract $60M of that. This current reality is unacceptable to many people.

The only way to get the ether back is to create an alternate reality where the attacker does not have anything.

“Invent a new version of the universe” is normally not permitted by the software protocol, which is why this involves a client update and a hard fork.

If there truly was “social consensus” – and I mean the actual definition of “consensus”, which is unanimous consent – there would be no problem with the fork. It wouldn’t even be a fork, simply a mass migration. Just don’t expect anyone to take your “unstoppable computer” very seriously after that.

http://elaineou.com/wp-content/uploads/2016/07/forkyou-1.pdf

Types of Hard Fork
•  “Let’s collectively agree to change the rules that allow for securely updating future states.” -Software Update
•  “Let’s collectively agree to break the rules, just this once.” -51% Attack

"Just the tip" -VB, basically

"OK, just this once *wink-wink*" -Coinbase, basically

[Master_dandosha]

I get a good profit today from eth hope will reach 0.02 soon ? the story of eth hard fork spread widely
Thanks dev

[Mrpumperitis]

How to Create a New Account with Coinbase
http://bitcoinpassiveincome.com/coinbase-review/
 

[Mrpumperitis]

Coinbase adds support for Ethereum

Which one of the three ethereums we currently have, pumpy?

? which one do you have coiny,lol

[bitpop]

Coinbase adds support for Ethereum

Which one of the three ethereums we currently have, pumpy?

? which one do you have coiny,lol

Vitaliks cock pump must be broken today, are you assisting mr pumpy?

[Hueristic]

Don't Worry, Devs are safe because they don't live in U.S. !!!

http://qntra.net/2016/07/alleged-hero-arrested/

[tempus]

Critical article but interesting - and not totally wrong:

A Painful Lesson For The Ethereum Community
http://www.forbes.com/sites/francescoppola/2016/07/21/a-painful-lesson-for-the-ethereum-community/#494412bf5714

[Mrpumperitis]

ConsenSys wants to bring Ethereum to China’s tech and finance giants, such as Tencent, Ping An, Ant Financial, and Alibaba.
http://technode.com/2016/07/21/company-bringing-ethereum-chinese-tech-giants/

[bitpop]

Critical article but interesting - and not totally wrong:

A Painful Lesson For The Ethereum Community
http://www.forbes.com/sites/francescoppola/2016/07/21/a-painful-lesson-for-the-ethereum-community/#494412bf5714

Sad that ethereum became greedy and incompetent

[Perryl]

Critical article but interesting - and not totally wrong:

A Painful Lesson For The Ethereum Community
http://www.forbes.com/sites/francescoppola/2016/07/21/a-painful-lesson-for-the-ethereum-community/#494412bf5714

Nice read, thanks.

I liked these quotes the most.

"Or, in the language of another world, the Ethereum central bank has directly recapitalized the DAO commercial bank by monetizing its debts."

"The Ethereum community has agreed to a change that makes their system less trustworthy than a conventional financial system. For a technology that aims to disrupt conventional financial systems, that is not clever."

"bailouts were – and probably still are – inevitable. Refusing to bail them out would be a major breach of faith"

"Ethereum is only immutable because Buterin says it is. Until he changes his mind. Which he inevitably will, next time there is a major loss. His investors will expect him to, since – y’know – the system is still “in development”. And he will agree, since – y’know – the community is in charge."

Crazy, it's like she knows a thing or two about currency.

[Fatman3001]

Hmmmm.....



So much fear among Moneroistas and Maximalistas.

Good, good, good.

[Hueristic]

Critical article but interesting - and not totally wrong:

A Painful Lesson For The Ethereum Community
http://www.forbes.com/sites/francescoppola/2016/07/21/a-painful-lesson-for-the-ethereum-community/#494412bf5714

Every time I read this (bolded) I can't help but laugh!

After a torrid few weeks arguing about what to do, while the DAO (Decentralized Autonomous Organization) became ever more corrupted due to repeated attempts to recover the money without fixing the code problem that made it impossible to prevent the money being stolen again, the Ethereum community has finally bowed to the inevitable. The DAO code has been rolled back to a point prior to the original attack – a “hard fork”. Ethereum has had its first bailout.

[tempus]

Critical article but interesting - and not totally wrong:

A Painful Lesson For The Ethereum Community
http://www.forbes.com/sites/francescoppola/2016/07/21/a-painful-lesson-for-the-ethereum-community/#494412bf5714

Sad that ethereum became greedy and incompetent

Because you speak about "greed" - Last week there was another very interesting blog-post. Also very attacking and for my opinion a little bit too much of speculation and I'm not sure if he is right to just 1% or maybe 90% or whatever. Can't say it. But it's not wrong to consider some of his theories as possibilities:  

On Ponzi’s, Equity Derivatives, and Ethereum
http://www.wallstreettechnologist.com/2016/07/12/on-ponzis-equity-derivatives-and-ethereum/

My own opinion is that it's not really be about greed, that it's not about money as priority. I consider Vitalik Buterin as visionary and genius and I believe he wants much more than just getting rich quick. But I also believe that there might be a lack of experience in the team and that Ethereum is maybe too much about being proud because of big numbers - 1.5 bn - marketcap, DAO-funding and so on. It seems like too much ambition and too less patience and focus on what it should be about - quality and stability.

For me, it's much about TheDao. Because it could have been a really interesting experiment, but instead of that it turned out to be an overfunded too-big-too-fail-monster. And the extremely high funding is suspicious in my opinion and maybe even more the intention behind for what it was most likely meant for.

Thing is: Even without a hack it could have turned out as a risk for Ethereums eco-system. And there is something in Ethereum I really don't like, I'm just unsure what exactly it is. Because I see Ethereum as very valuable but as a scientific project and I believe it will need a lot of time until it's ready for real business, if that will ever happen. The high price and the massive manipulation let it seem even more premature.

[Mrpumperitis]

Why Ethereum is the hottest new thing in digital currency
http://finance.yahoo.com/news/coinbase-adds-ethereum-ether-bitcoin-000000379.html

[tempus]

Why Ethereum is the hottest new thing in digital currency
http://finance.yahoo.com/news/coinbase-adds-ethereum-ether-bitcoin-000000379.html

That article is a good example for what I believe is wrong in Ethereum but also in Crypto generally.

This for example:

"On Thursday, Ethereum hit another business milestone when Coinbase, the leading mainstream platform for buying and trading of bitcoin, added support for ether. Coinbase customers—there are $4 million of them in 32 countries—can now easily buy and trade ether using the Coinbase web site or mobile app."


How is it an "business milestone" if a project is added by a new exchange? It doesn't say much about Ethereum at all or at least it's not going beyond Ethereum. The price may go up because of that, but it's just because people would anticipate: "More people will buy Ethereum" - it's just about the market and the market is just about the price.

And that is exactly what I believe was the problem with TheDAO. It was funded with expensive Ether and pumped up like a bubble with the priority to fund other Ethereum-projects like slock.it. And it's all about nice theories about a "social experiment". What it would have been about: Manipulative wars to get some of the millions. And generally it was not thoughtful. It was rushed out and usually there is high intention if something is rushed out. And one question is: What exactly would go beyond Ethereum into real business and be effective? 

For me it's all like little magic-tricks to give an illusion of an economy - but it's an Ethereum-economy that is for the price and based on the price while there are real weaknesses and a trust-problem that could turn out as not just temporary.

If I should make a bet about Ethereums future it would be: It's a forerunner but others will learn out of it's weaknesses and maybe overtake. I believe Ethereum is very valuable as kind of laboratory to find out what is possible and how and what is a risk and why. But safe to say is: Ethereum will have to face serious competition in future and than a high price won't help. It will be about fundamental qualities in comparison. 

[cryptoPrecise]

So, how you guys see this going? I personally think it'll go down until we get closer to the devcon date. As now Coinbase addition is behind us and DAO holders will be cashing out their eth refunds. Correct me if I am missing something. Also, what is the latest on the classic? Any major exchange planning to add it?

[roselee]

Critical article but interesting - and not totally wrong:

A Painful Lesson For The Ethereum Community
http://www.forbes.com/sites/francescoppola/2016/07/21/a-painful-lesson-for-the-ethereum-community/#494412bf5714

Nice read, thanks.

I liked these quotes the most.

"Or, in the language of another world, the Ethereum central bank has directly recapitalized the DAO commercial bank by monetizing its debts."

"The Ethereum community has agreed to a change that makes their system less trustworthy than a conventional financial system. For a technology that aims to disrupt conventional financial systems, that is not clever."

"bailouts were – and probably still are – inevitable. Refusing to bail them out would be a major breach of faith"

"Ethereum is only immutable because Buterin says it is. Until he changes his mind. Which he inevitably will, next time there is a major loss. His investors will expect him to, since – y’know – the system is still “in development”. And he will agree, since – y’know – the community is in charge."

Crazy, it's like she knows a thing or two about currency.

a friend sais always follow were the money goes and you see who is behind it.

where is the location of vitaliks biz? swiss
i more and more get the impression that ether is the big banksters try to overtake the blockchain.
pushing it
its not a satoshi chain

[IncludeBeer]

Critical article but interesting - and not totally wrong:

A Painful Lesson For The Ethereum Community
http://www.forbes.com/sites/francescoppola/2016/07/21/a-painful-lesson-for-the-ethereum-community/#494412bf5714

Nice read, thanks.

I liked these quotes the most.

"Or, in the language of another world, the Ethereum central bank has directly recapitalized the DAO commercial bank by monetizing its debts."

"The Ethereum community has agreed to a change that makes their system less trustworthy than a conventional financial system. For a technology that aims to disrupt conventional financial systems, that is not clever."

"bailouts were – and probably still are – inevitable. Refusing to bail them out would be a major breach of faith"

"Ethereum is only immutable because Buterin says it is. Until he changes his mind. Which he inevitably will, next time there is a major loss. His investors will expect him to, since – y’know – the system is still “in development”. And he will agree, since – y’know – the community is in charge."

Crazy, it's like she knows a thing or two about currency.

It already happened.  The HF is done with.  If you really feel the need to (continuously) cry over it, then please start a new thread.  Otherwise, how about we move on to working toward the same goals the community had for a month ago for Ethereum.