[ANN] Ethereum: Welcome to the Beginning

[dishku]

So am I understanding correctly that countries are now converting their fiat currency to Ethereum tokens?

Which countries are going to do this can share source of this news because it's not easy any Government to use it as normal currency at this stage when 99.99% have no awareness about cryptocurrencies.

[1714833677]

1714833677

[1714833677]

1714833677

[1714833677]

1714833677

[1714833677]

1714833677

[1714833677]

1714833677

[Fargusson]

So am I understanding correctly that countries are now converting their fiat currency to Ethereum tokens?

Which countries are going to do this can share source of this news because it's not easy any Government to use it as normal currency at this stage when 99.99% have no awareness about cryptocurrencies.

No this graph is not about countries converting their money into ethereum but about what fiat currency is used to buy ETH.

Meaning that a guy from Germany buying some ETH in EUR will appear in the ETH line and the EUR block.
Likewise, a Chinese guy buying some BTC in CNY will appear in the BTC line and the CNY block.

This means that much more fiat are injected in the crypto economy by people (not necessarily governments or banks, mostly regular people or adopters) buying ETH than by people buying any of the others 19 main cryptos.

The original data come from CoinMarketCap.

EDIT: Note that the fact that people use their fiat to buy ETH doesn't mean they won't sell their ETH for other cryptos a few hours/days/weeks after. But that's certainly mean that ETH is by know the main vector of crypto-adoption.

[estenity]

ETH successfully split using updated splitter @ http://chainsplit.com/updated-eth-etc-split for those of you asking how to split after-fork coins  

Thank you man for this always beloved scam.

The ETH logo looks like the center of the masonic square and compass IMO, I'm goncerned. I was heavily invested in the DAO so of course I threw my support behind the dev team and screamed scam at ETC. However I'm worried that Butters will turn into Andresen 2.0 especially with his meeting Putin reminds of the time the CIA put a chip in buddies head made him larp support for 20GB blocks.

My views have changed a bit over time and ETC is not a scam IMO.

My 2c.

The image below shows the unspeakable truth... ETC is meant for the Illuminatis. ETH is for true libertarians!

you like the symbols...please go on with the correlation, can you establish it for sure ?

[thedreamer]

ETH successfully split using updated splitter @ http://chainsplit.com/updated-eth-etc-split for those of you asking how to split after-fork coins  

Thank you man for this always beloved scam.

The ETH logo looks like the center of the masonic square and compass IMO, I'm goncerned. I was heavily invested in the DAO so of course I threw my support behind the dev team and screamed scam at ETC. However I'm worried that Butters will turn into Andresen 2.0 especially with his meeting Putin reminds of the time the CIA put a chip in buddies head made him larp support for 20GB blocks.

My views have changed a bit over time and ETC is not a scam IMO.

My 2c.

Man, you couldn't be more wrong...

The image below shows the unspeakable truth... ETC is meant for the Illuminatis. ETH is for true libertarians!

To QUote Carlos Mencia.......

Deet, de deee!!
:facepalm:

[Duchess]

It would be great if countries move their fiat to Eth tokens. Imagine what it would do to the Eth price. I would just like to know what would happen if a country does move its fiat to some kind of contract and it gets hacked and drained like we see with these hacks? What guarantees does a country have how it would be handled and if so would there be a difference in handling between countries of different sizes/locations/principles etc?

[j-rise]

It would be great if countries move their fiat to Eth tokens. Imagine what it would do to the Eth price. I would just like to know what would happen if a country does move its fiat to some kind of contract and it gets hacked and drained like we see with these hacks? What guarantees does a country have how it would be handled and if so would there be a difference in handling between countries of different sizes/locations/principles etc?

I think its quite possible for a country to move their fiat into tokens once the all the investment and transaction options that are  currently open to fiat become available on ethereum, hence meaning they do not have to exchange back into fiat currency at any time.. Maybe in 10 years? Just a guess. I could imagine if ethereum moves to a Proof of Stake model like they are supposably planning that that a large holder of ethereum such as a country would get some sort of preferential treatment due to there larger contribution to the network.

[Fargusson]

It would be great if countries move their fiat to Eth tokens. Imagine what it would do to the Eth price. I would just like to know what would happen if a country does move its fiat to some kind of contract and it gets hacked and drained like we see with these hacks? What guarantees does a country have how it would be handled and if so would there be a difference in handling between countries of different sizes/locations/principles etc?

I think its quite possible for a country to move their fiat into tokens once the all the investment and transaction options that are  currently open to fiat become available on ethereum, hence meaning they do not have to exchange back into fiat currency at any time.. Maybe in 10 years? Just a guess. I could imagine if ethereum moves to a Proof of Stake model like they are supposably planning that that a large holder of ethereum such as a country would get some sort of preferential treatment due to there larger contribution to the network.

I copy/paste an old link about Singapore tokenizing its singaporian dollars on the ethereum blockchain to enrich the discussion.

You'll also find behind an light sum-up about PoW vs PoS and below a more tough discussion between Vitalik Buterin and Tuur Demeester on the PoW design:
     - Original Vitalik's paper
     - Critique by Tuur Demeester
     - Vitalik's answer to Tuur's critique
     - Tuur's answer to Vitalik's answer
     - Vitalik's answer to Tuur's answer to Vitalik's answer to Tuur's critique

The last one is about j-rise's question on the risk of an unfair advantage for nations on a PoS model.

[chinapeople]

It would be great if countries move their fiat to Eth tokens. Imagine what it would do to the Eth price. I would just like to know what would happen if a country does move its fiat to some kind of contract and it gets hacked and drained like we see with these hacks? What guarantees does a country have how it would be handled and if so would there be a difference in handling between countries of different sizes/locations/principles etc?

I think its quite possible for a country to move their fiat into tokens once the all the investment and transaction options that are  currently open to fiat become available on ethereum, hence meaning they do not have to exchange back into fiat currency at any time.. Maybe in 10 years? Just a guess. I could imagine if ethereum moves to a Proof of Stake model like they are supposably planning that that a large holder of ethereum such as a country would get some sort of preferential treatment due to there larger contribution to the network.

I copy/paste an old link about Singapore tokenizing its singaporian dollars on the ethereum blockchain to enrich the discussion.

You'll also find behind an light sum-up about PoW vs PoS and below a more tough discussion between Vitalik Buterin and Tuur Demeester on the PoW design:
     - Original Vitalik's paper
     - Critique by Tuur Demeester
     - Vitalik's answer to Tuur's critique
     - Tuur's answer to Vitalik's answer
     - Vitalik's answer to Tuur's answer to Vitalik's answer to Tuur's critique

The last one is about j-rise's question on the risk of an unfair advantage for nations on a PoS model.

thanks for this it helps sum it all up easily

[notbatman]

OK what gives, BTC @ $1850 and this crap isn't getting pulled up too??? I'm being cooked alive by my GPUs for barely enough to buy a cup of coffee!!!

[Armando]

OK what gives, BTC @ $1850 and this crap isn't getting pulled up too??? I'm being cooked alive by my GPUs for barely enough to buy a cup of coffee!!!

I'd love to buy some BTCs @ $1850 now 

[notbatman]

OK what gives, BTC @ $1850 and this crap isn't getting pulled up too??? I'm being cooked alive by my GPUs for barely enough to buy a cup of coffee!!!

I'd love to buy some BTCs @ $1850 now 

I sold all my BTC for shitcoins weeks ago and they all tanked, I lost so much money QQ. The crypto market has sucked for the last 3 weeks prety badly, I'm praying for ETH to jump to $300.

[Fargusson]

OK what gives, BTC @ $1850 and this crap isn't getting pulled up too??? I'm being cooked alive by my GPUs for barely enough to buy a cup of coffee!!!

I'd love to buy some BTCs @ $1850 now  

I sold all my BTC for shitcoins weeks ago and they all tanked, I lost so much money QQ. The crypto market has sucked for the last 3 weeks prety badly, I'm praying for ETH to jump to $300.

The hard life of crypto-investers... My sincere condolences.

ETH is coming up right now (but mostly because its pulled by BTC) but will soon enough (by the end of the year IMHO) fly by its own.
The fact that the architecture of ETH allows smart-contracts when makes it a very different crypto from BTC: I think their excahnge price will become more and more independent in the days to come.

Plus Metropolis phase 1 is coming.

[profitgenerator212]

I think this is a very pathetic Socialist attempt to socialize losses:

https://www.reddit.com/r/ethereum/comments/6oexk0/should_the_whitehat_socialize_the_losses/

https://www.reddit.com/r/ethereum/comments/6obf5w/proposal_for_all_projects_that_saw_their_funds/

Bunch of Communists want to steal away the funds from the coins that lost less, and give it to those that lost more.

Total turnover of incentives. Those that lost more should assume that loss. It was their fault, why did they hold so much coins in a buggy wallet.

I am really sick of these Socialists who want to give the illusion of elimination of risk, but in reality they just distribute the risk across everyone, even those that should not hold it.

[DigitalCurrencyConsultant]

I agree they take the normal fiat and they want the coins ^^

[Assanger]

OK what gives, BTC @ $1850 and this crap isn't getting pulled up too??? I'm being cooked alive by my GPUs for barely enough to buy a cup of coffee!!!

I'd love to buy some BTCs @ $1850 now 

I sold all my BTC for shitcoins weeks ago and they all tanked, I lost so much money QQ. The crypto market has sucked for the last 3 weeks prety badly, I'm praying for ETH to jump to $300.

I did not sell any bitcoin in the last two weeks. I believe the temporary drop the bitcoin price will be brief.

[profitgenerator212]

People should start trading at EtherDelta exchange too:
https://etherdelta.github.io/

It's a very cool exchange!

[IncludeBeer]

I've been claiming free Bitcoin & I believe Bitcoin will reach $500,000 by 2030.

The market capital for all Cryptocurrencies rose from 6 billion in January to over 100 Billion in June. It's becoming more adopted by the mainstream year on year. As more interest comes along, there is a higher chance of cryptocurrencies reaching the 1 trillion mark in market capital. To newcomers, market capital is the total amount of USD/EURO and other currencies which are invested into Bitcoin & other Cryptocoins. Bitcoin tends to hold around half of this value but this could change.

You can claim I'm ridiculous, but anyone who purchased £1,000 of Bitcoin in 2009 would be a multi millionaire now.

You certainly wouldn't have expected Bitcoin to rise from $1 to $3000 in 8 years.

Not even amazon has seen that much growth as a multi billion dollar company which has one of the largest brands in the world. Since 1998 Amazon have gone from $1 a share to $1000 a share. That's twice the time for a third of the gain.

You can see why Cryptocoins are such a great investment. It's not to late either, grab yourself some coins. You can buy XRP for 20 cent each and they are also due to go up. They were around 1 cent I January!

More investors and mainstream communities need to seriously look into putting some money away in CryptoCurrencies.

Cryptocurrencies such as Litecoin, XRP, Dogecoin & many others will rise in value alongside Bitcoins.

Invest wisely and for the long term. 3-7 years depending on your patience. Even if the coin dips it will recover and rise further than before. This has been seen constantly within the Crypto market place. Don't constantly check the value every day as the fluctuations may panic you and cause you to sell at the wrong time.

I've made 100,000 Bitcoin satoshi this week from this site if you want to get some before they start rising!

It's a faucet which gives you coins every five minutes, not sure how they profit from it, but I love a freebie!

http://freecryptobit.wordpress.com

lol. How about you put that in lending, or mine some alt coins? Constant mooching from faucets is literally the slowest way to make gains in crypto.

Also, this is Ethereum thread, not BTC thread...

[MrSunshine]

I've been claiming free Bitcoin & I believe Bitcoin will reach $500,000 by 2030.

The market capital for all Cryptocurrencies rose from 6 billion in January to over 100 Billion in June. It's becoming more adopted by the mainstream year on year. As more interest comes along, there is a higher chance of cryptocurrencies reaching the 1 trillion mark in market capital. To newcomers, market capital is the total amount of USD/EURO and other currencies which are invested into Bitcoin & other Cryptocoins. Bitcoin tends to hold around half of this value but this could change.
...

Get your facts strait. At the beginning of the year, the crypto market was ~17 Billion not 6.

[Cakinmate]

I've been claiming free Bitcoin & I believe Bitcoin will reach $500,000 by 2030.

The market capital for all Cryptocurrencies rose from 6 billion in January to over 100 Billion in June. It's becoming more adopted by the mainstream year on year. As more interest comes along, there is a higher chance of cryptocurrencies reaching the 1 trillion mark in market capital. To newcomers, market capital is the total amount of USD/EURO and other currencies which are invested into Bitcoin & other Cryptocoins. Bitcoin tends to hold around half of this value but this could change.
...

Get your facts strait. At the beginning of the year, the crypto market was ~17 Billion not 6.

The total market cap is about $80 billion now. So that is almost 5 times increase.

[cjmoles]

I've been claiming free Bitcoin & I believe Bitcoin will reach $500,000 by 2030.

The market capital for all Cryptocurrencies rose from 6 billion in January to over 100 Billion in June. It's becoming more adopted by the mainstream year on year. As more interest comes along, there is a higher chance of cryptocurrencies reaching the 1 trillion mark in market capital. To newcomers, market capital is the total amount of USD/EURO and other currencies which are invested into Bitcoin & other Cryptocoins. Bitcoin tends to hold around half of this value but this could change.
...

Get your facts strait. At the beginning of the year, the crypto market was ~17 Billion not 6.

The total market cap is about $80 billion now. So that is almost 5 times increase.

Yes....the cryptocurrencies are doing great but how much of it is just hype?  How much of its value is supported by solid, well informed investors, and how much of it is just excited money injected by new investors who want to get in before it's too late?  I think that much of the cryptocurrency market cap is supported by real development on the ethereum chain....I'm not so sure about the investments into the bitcoin chain....that looks like pure FOMO brought on by recent surges in the ethereum token markets....I dunno how accurate the coinmarketcap numbers are either....they're fishy at best, 4764 markets?