[ANN] Ethereum: Welcome to the Beginning

[Gekkoo]

Are we going to see Ethereum at $300 only with the approach of PoS? When will the PoS systems start? What can we expect if things are not so good on August 1st? It's sad, but ETH price still depends on the price BTC!

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[Biscutard]

Are we going to see Ethereum at $300 only with the approach of PoS? When will the PoS systems start? What can we expect if things are not so good on August 1st? It's sad, but ETH price still depends on the price BTC!

The PoS will only start next year. If things are not so good for bitcoin, people will use ETH a lot.

[sheld0n]

Mauritius Plans to Create an Ethereum Island

Islands have been a fixation of many countries, be it the Arab world, especially Dubai with its obsession towards building luxury property over artificial islands or China’s expansion of dominion in the South China Sea. But the African nation of Mauritius has a different kind of aspiration. The country is on the verge of creating the “Ethereum Island” within its territory.

The Ethereum Island is expected to be a collaborative partnership between the Mauritius government and private entities and ConsenSys, an Ethereum blockchain solutions provider. The island will be a global blockchain technology hub open for innovators from African and Asian nations.

Full Article

[MrSunshine]

Are we going to see Ethereum at $300 only with the approach of PoS? When will the PoS systems start? What can we expect if things are not so good on August 1st? It's sad, but ETH price still depends on the price BTC!

The PoS will only start next year. If things are not so good for bitcoin, people will use ETH a lot.

Why, I thought ETH was for smart contracts and ICO's, for for payments. Also ETH itself buckled under higher transaction load a few weeks ago, why do you think ETH could handle it better than BTC?

[Fargusson]

Are we going to see Ethereum at $300 only with the approach of PoS? When will the PoS systems start? What can we expect if things are not so good on August 1st? It's sad, but ETH price still depends on the price BTC!

The PoS will only start next year. If things are not so good for bitcoin, people will use ETH a lot.

Why, I thought ETH was for smart contracts and ICO's, for for payments. Also ETH itself buckled under higher transaction load a few weeks ago, why do you think ETH could handle it better than BTC?

You can use Ether to pay for anything, just like Bitcoin.
Where Ethereum is IMHO more powerful than Bitcoin is because you can implement smart contracts or dApps directly on the main blockchain without having to create a side blockchain.

ICO are just a way of crowdfunding some dApps or DAOs (or scams) by using some smart contracts. Its a sub-use of smart contracts, but not a purpose of the Ethereum blockchain per se.

Ethereum had indeed some trouble to handle some huge ICOs during june. Hopefully it's more or less temporarily settled now that the vast majority of miners agreed to increase the gas limit per block. It will be more definitively solved during Homestead or Serenity release with the implementation of sharding and/or Casper (see the official Ethereum blog or the official subreddit for more information).

IMHO, again, I think it will be easier for Ethereum than for Bitcoin to move forward because Ethereum is still in a relatively early (2 years old comparing with the 8 years old of the Bitcoin blockchain) stage of developpement where the thoughts of the core devs and founders are still proeminent which make it easier to reach a consensus (but didn't prevent some crisis like the one after the DAO's attack).
In fact, we saw that Bitcoin paid for its success on the past few months with all the more or less early adopters and miners trying to reach consensus which is almost impossible given their number and will, eventually, split the blockchain in two or more sub-chains.

[EDIT:]A short answer to Gekkoo.
To see the up-to-date roadmap go on the subreddit or on the blog (links on the previous lines of this post).
Ethereum price (or any crypto price) will rely on Bitcoin's as long as Bitcoin remains (by far) the biggest crypto out there and as many trades are made between Bitcoin and others cryptos. Here is a small graph showing the relative weight of the 10 more capitalized cryptos (according to today's version of CMC).

[/EDIT]

[barabbas]

The problem is only for who sell eth .. I prefer eth with me  

That exactly what we should do now.price can rebound anytime from any stage,and it only give you a lose if you sell your eth now. I believe this is not the right time for sell as i believe eth price will spike over $300 soon.

Based on wishful thinking?  This is all uncharted territory.  What kind of analysis could possibly make you think with any confidence that a spike straight back up is likely?

I think this drop was very fast and there will probably be a good bounce back up just because of trading, but why "300+ soon"?

The price is actually rebounding nicely but I doubt it will reach 200 any time soon. The 50% haircut -if it does reach 200- will reflect the obvious: All those multi-million ICOS, including current ones in progress, need to dump millions and millions of ETH in the markets and get it in fiat in order to progress and pay for the operations their ICOS promised. Same thing with BTC for most of them admitted both ETH and BTC. In my opinion the crash of this weekend is just the start and it will be followed by many others as this exchange of BTC/ETH for fiat continues inevitably and with new money coming in slowing down, especially after new investors are burned by the crashes.

That, of course, doesn't include the easy manipulation that is quite possible for those with big pockets and the ability to short.

These are very troublesome times with the risk increased significantly. To remain on the fence seems quite appropriate to me.

[becoin]

Why, I thought ETH was for smart contracts and ICO's, for for payments.

ETHc is for smart contracts. ETHf is too expensive now to be a fuel for smart contracts and is used mainly as a pump-and-dump coin.

[addicto]

Why, I thought ETH was for smart contracts and ICO's, for for payments.

ETHc is for smart contracts. ETHf is too expensive now to be a fuel for smart contracts and is used mainly as a pump-and-dump coin.

Although this sound terrible but this the reality of the market at the moment. What happening it's against the spirit of this revolutionary project but everyone like to make huge profit and that is the reason ETH will remain top currency in market.

[Fargusson]

Why, I thought ETH was for smart contracts and ICO's, for for payments.

ETHc is for smart contracts. ETHf is too expensive now to be a fuel for smart contracts and is used mainly as a pump-and-dump coin.

Although this sound terrible but this the reality of the market at the moment. What happening it's against the spirit of this revolutionary project but everyone like to make huge profit and that is the reason ETH will remain top currency in market.

That's only because ETHc is cheaper than ETH. Thinking about a world (that I'm sure becoin dream about) where ETHc is at the same price than ETH, quickly shows how becoin's answer rely on nothing but dogma.

Consensus among miners on the gas cost (while we are on PoW) or smart algorythm setting the gas cost (when we will be on PoS) and efficiency of the code of a smart contract make the cost of a smart contract execution. Everything else (including short-sighted dogma) is irrelevent in this discussion.

[EDIT]
Seeing these graphs below, I'm not sure Ethereum is the more speculative one: ratios are almost the same.

Ethereum Classic vs. BTC - 90 days - ratio 3.70 between highest and lowest value




Ethereum vs. BTC - 90 days - ratio 3.75 between highest and lowest value



[/EDIT]

[yugu]

...efficiency of the code of a smart contract make the cost of a smart contract execution...

What do you mean?
How contract's code can influence the cost of a transaction?

[becoin]

That's only because ETHc is cheaper than ETH. Thinking about a world (that I'm sure becoin dream about) where ETHc is at the same price than ETH, quickly shows how becoin's answer rely on nothing but dogma.

Both ETHc and ETHf are ETH.
Make sure to point out which one do you have in mind when you talk about ETH.

[Fargusson]

...efficiency of the code of a smart contract make the cost of a smart contract execution...

What do you mean?
How contract's code can influence the cost of a transaction?

Each operation on the blockchain costs gas. That why the more efficient your code is (meaning avoid useless operation on the blockchain), the less gas the smart contract will use.

More explanations on gas here.

[IncludeBeer]

Why, I thought ETH was for smart contracts and ICO's, for for payments.

ETHc is for smart contracts. ETHf is too expensive now to be a fuel for smart contracts and is used mainly as a pump-and-dump coin.

Although this sound terrible but this the reality of the market at the moment. What happening it's against the spirit of this revolutionary project but everyone like to make huge profit and that is the reason ETH will remain top currency in market.

Not really. Actually, not even a little. becoin fails to mention the dynamic adjustment of gas prices. As the market price of Eth goes up, the cost of gas goes down. This is automatic; the protocol takes care of it. Take a look at the block explorer: compare some random transactions from when Eth was ~$10 compared to when Eth was ~$300. See that giant difference in gas price?

Besides, who exactly is creating projects on the classic chain? The blockchain shows Etc contract executing is a tiny fraction of the same on the Eth chain.   

[IncludeBeer]

That's only because ETHc is cheaper than ETH. Thinking about a world (that I'm sure becoin dream about) where ETHc is at the same price than ETH, quickly shows how becoin's answer rely on nothing but dogma.

Both ETHc and ETHf are ETH.
Make sure to point out which one do you have in mind when you talk about ETH.

Only to you. The rest of crypto identifies Ethereum as Eth, and Ethereum classic as Etc. Stop being a fucking clown and confusing others. 

[SebastianJu]

Will the mist wallet be useable anytime soon again? When I leave it closed for a week and start it then it needs another week until it is synchronized again. Not really useable at the moment.

Will there be a change anytime soon?

[Fargusson]

Will the mist wallet be useable anytime soon again? When I leave it closed for a week and start it then it needs another week until it is synchronized again. Not really useable at the moment.

Will there be a change anytime soon?

On the last update of the Ethereum Dev team you will have some news on Mist developpement.

However I think its hard (and will be harder and harder) to catch up with the blockchain if you have an HDD. I've got an HDD 7200 rpm and was afk for three weeks. I still have 50k blocks to go after three whole days of 24h/24 syncing. It's The more people doing transactions on the blockchain, the bigger the blocks are. the same with the Bitcoin blockchain actually.

It can be better for you to sync on a SSD or to wait for sharding.

[vapourminer]

However I think its hard (and will be harder and harder) to catch up with the blockchain if you have an HDD. I've got an HDD 7200 rpm and was afk for three weeks. I still have 50k blocks to go after three whole days of 24h/24 syncing. It's The more people doing transactions on the blockchain, the bigger the blocks are. the same with the Bitcoin blockchain actually.

It can be better for you to sync on a SSD or to wait for sharding.

this for sure. ssds are practically a must have for blockchains. i actually run 2 in RAID 0 for eth and btc blockchains. i back them up to NAS nightly, just so i dont have to go through the pain of a complete redownload if something goes off into the weeds or ssd failure.

[vectisitch]

Will the mist wallet be useable anytime soon again? When I leave it closed for a week and start it then it needs another week until it is synchronized again. Not really useable at the moment.

Will there be a change anytime soon?

On the last update of the Ethereum Dev team you will have some news on Mist developpement.

However I think its hard (and will be harder and harder) to catch up with the blockchain if you have an HDD. I've got an HDD 7200 rpm and was afk for three weeks. I still have 50k blocks to go after three whole days of 24h/24 syncing. It's The more people doing transactions on the blockchain, the bigger the blocks are. the same with the Bitcoin blockchain actually.

It can be better for you to sync on a SSD or to wait for sharding.

 you mean people are actually still using hdd's?? my god man we aren't in the stone age anymore.lol

[Ardhi]

Ethereum always amazes me, keeps increasing all the time, improves basically change, to be perfect is a repetitive change, cool, Good luck

[Rugtilf]

Ethereum always amazes me, keeps increasing all the time, improves basically change, to be perfect is a repetitive change, cool, Good luck

That is because it has good user community and active developments.