[ANN] Ethereum: Welcome to the Beginning

[cryptdak]

Through bitcoin futures, investors in the traditional finance sector have started to enter the cryptocurrency market. Primarily because of the massive success of some decentralized applications such as CryptoKitties and EtherDelta, and the fact that Ethereum is the only cryptocurrency in the global market that can compete with bitcoin in terms of developer activity, usability, fungibility, liquidity, and scalability, Ethereum has garnered the attention of investors in both the cryptocurrency sector and traditional finance industry https://www.ccn.com/ethereum-price-achieves-new-all-time-high-at-850-explosive-growth/

[BTCMILLIONAIRE]

Through bitcoin futures, investors in the traditional finance sector have started to enter the cryptocurrency market. Primarily because of the massive success of some decentralized applications such as CryptoKitties and EtherDelta, and the fact that Ethereum is the only cryptocurrency in the global market that can compete with bitcoin in terms of developer activity, usability, fungibility, liquidity, and scalability, Ethereum has garnered the attention of investors in both the cryptocurrency sector and traditional finance industry https://www.ccn.com/ethereum-price-achieves-new-all-time-high-at-850-explosive-growth/

Waves is much more efficient than Ethereum right now. Ethereum broke down with 7 tx per second from crypto kitties. Waves can handle over 100 per second and can easily scale up to around 1000 tx per second. It's just missing smart contracts right now to completely overtake Ethereum from a technical point of view (due Q1 2018).

[valerie_zurich]

Ethereum is featured in today's daily chart segment. Come comment with your thoughts on its recent price movements.

Ethereum is the day's biggest gainer rocking gains way over 10% through the last 24 hours. ETH/USD markets are continuing to show bullish signs as prices keep approaching new highs, now looming $859. If resistance at $900 is however broken, traders would have to show significant support for such levels to be sustained amid current resistance.



Chart Source:
https://cryptocoincharts.info/pair/eth/usd/bitfinex/today

[TheHas]

Hey guys just trying to understand where the transaction fees 'go'. Are they incorporated into the block reward somehow, or are they 'burned' in a sense, as the block reward is stable.

Couldn't find any easy answer to this, I might be reading the wrong articles!

[Sincere_]

I think $1000 will be before christmas ( maybe today or tomorrow)

Maybe not before Christmas but definitely soon forsure it's been moving quite fast the last few weeks

[EastSound]

Through bitcoin futures, investors in the traditional finance sector have started to enter the cryptocurrency market. Primarily because of the massive success of some decentralized applications such as CryptoKitties and EtherDelta, and the fact that Ethereum is the only cryptocurrency in the global market that can compete with bitcoin in terms of developer activity, usability, fungibility, liquidity, and scalability, Ethereum has garnered the attention of investors in both the cryptocurrency sector and traditional finance industry https://www.ccn.com/ethereum-price-achieves-new-all-time-high-at-850-explosive-growth/

Waves is much more efficient than Ethereum right now. Ethereum broke down with 7 tx per second from crypto kitties. Waves can handle over 100 per second and can easily scale up to around 1000 tx per second. It's just missing smart contracts right now to completely overtake Ethereum from a technical point of view (due Q1 2018).

We dont really know if waves can handle tx cause its not popular unlike ethereum it has tons of tx and being used by many companies.

[cryptdak]

Through bitcoin futures, investors in the traditional finance sector have started to enter the cryptocurrency market. Primarily because of the massive success of some decentralized applications such as CryptoKitties and EtherDelta, and the fact that Ethereum is the only cryptocurrency in the global market that can compete with bitcoin in terms of developer activity, usability, fungibility, liquidity, and scalability, Ethereum has garnered the attention of investors in both the cryptocurrency sector and traditional finance industry https://www.ccn.com/ethereum-price-achieves-new-all-time-high-at-850-explosive-growth/

Waves is much more efficient than Ethereum right now. Ethereum broke down with 7 tx per second from crypto kitties. Waves can handle over 100 per second and can easily scale up to around 1000 tx per second. It's just missing smart contracts right now to completely overtake Ethereum from a technical point of view (due Q1 2018).

We dont really know if waves can handle tx cause its not popular unlike ethereum it has tons of tx and being used by many companies.

Right

[rz20]

A week ago it was almost impossible to send ethereum. Because of miners were in other currencies favor. Now eth price jumped and it became profitable again. But what would be if it drops? What does the dev team think about it?

problem was .......cryptokitties..... ,do U know what I mean? https://www.coindesk.com/scratch-cryptokitties-isnt-ethereums-vision-apps/

Transactions were very possible, it's just that typical users haven't had to increase their gas prices so drastically. So of course, they didn't, and then transactions didn't get mined or took hours to get mined.

yes transaction were possible but only at high gwie gas price > i think above 40 gwei was successfull
but now the network of eth is stable and lowest cost of gas price is now 5 gwei for a transaction
check here https://ethgasstation.info/index.php?curr=usd
with the help of ethgasstation site you can easily make a successfull transaction by selecting the right gwei gas price
so you will save from over paying gas price and very low paying gas price which is cause of stuck a transaction

Although there are so many ways to reduce costs, one must admit that Ethereum's transfer fees are indeed many times more expensive

Why do think transaction fee is for ether is expensive? When compared to fiat transaction fee it is much much cheaper.

The problem is, that more the $ price of ETH rises, more expensive those transaction fees gets. Imagine if ETH will be 5 or even 10k USD once (which I am not saying it will be), we would pay for a transaction a fortune. Or not and it will take ages to confirm.

Yes I agree, but that's the problem for other time ETH project is filled with genius minds and I am sure that they will able to find a fix to the issue.

[IncludeBeer]

Hey guys just trying to understand where the transaction fees 'go'. Are they incorporated into the block reward somehow, or are they 'burned' in a sense, as the block reward is stable.

Couldn't find any easy answer to this, I might be reading the wrong articles!

Every PoW algo that I know of has the model where the miner who solves the block gets the block reward + transaction fees from that block. They aren't burned, they're added to the block reward the miner receives. This is why transactions with higher fees typically get processed faster (because miners want to get paid higher fees, so select the highest fee transactions from the mem pool when adding to a block). Also, this is what incentives miners to continue mining after the block reward of a chain drops to ~0.

[hiramofTyre]

With eth gaining new all time highs, the difficulty of mining has suddenly kicked in because peopel feel that thishas becone profitable to mine . Can't wait for countries to launch their own eth based currencies as it would further bri g the price higher

[TheHas]

Hey guys just trying to understand where the transaction fees 'go'. Are they incorporated into the block reward somehow, or are they 'burned' in a sense, as the block reward is stable.

Couldn't find any easy answer to this, I might be reading the wrong articles!

Every PoW algo that I know of has the model where the miner who solves the block gets the block reward + transaction fees from that block. They aren't burned, they're added to the block reward the miner receives. This is why transactions with higher fees typically get processed faster (because miners want to get paid higher fees, so select the highest fee transactions from the mem pool when adding to a block). Also, this is what incentives miners to continue mining after the block reward of a chain drops to ~0.

Excellent yes that makes sense thanks. Particularly for coins that have a max supply limit. So the block reward essentially acts as a floor for the miners reward, and the transaction fees add a bit extra to the reward, also to benefit miners.

[zahidmoon]

Hey guys just trying to understand where the transaction fees 'go'. Are they incorporated into the block reward somehow, or are they 'burned' in a sense, as the block reward is stable.

Couldn't find any easy answer to this, I might be reading the wrong articles!

Every PoW algo that I know of has the model where the miner who solves the block gets the block reward + transaction fees from that block. They aren't burned, they're added to the block reward the miner receives. This is why transactions with higher fees typically get processed faster (because miners want to get paid higher fees, so select the highest fee transactions from the mem pool when adding to a block). Also, this is what incentives miners to continue mining after the block reward of a chain drops to ~0.

Excellent yes that makes sense thanks. Particularly for coins that have a max supply limit. So the block reward essentially acts as a floor for the miners reward, and the transaction fees add a bit extra to the reward, also to benefit miners.

yes exactly this will happen with a transaction when pay high gas
and now the gas  price are again up. looks like again eth network have a great load of transaction right now
minimum gas price in gwei is 26 right now according to ethgasstation
now i have to stop trading on etherdelta again and wait for eth network decrease  the minimum gas price
but a higer fee for a transaction have no prob right now i suggest more then 30 gwei gas should be use in a transaction now for a successful transaction

[moli1]

Ethereum has continued to push North, having gained 77% this month alone. The market cap now stands at US$79 billion with 242,648 BTC in trading volume over the past 24 hours.
Scaling issues on Ethereum became apparent in a post-CryptoKitties world.
The Decentralized Application (Dapp) helped pushed an already busy network to its limits upon release.
In the span of four days.. CryptoKitty transactions went from 3% of all Ethereum transactions to 11.77%.
This resulted in transaction backlogs.. network delays.. and higher gas fees.
The backlog of transactions currently stands at over 18,000 transactions.
Ethereum is capable of running 10-30 transactions per second.

[Magnion]

Hi guys

I'm new to Ethereum and was installing the wallet 0.9.3. For some reason it won't sync up fully. The chain structure keeps on going and going and at the same time increasing it's max.

Can anyone tell me what to do about it?

And what is the max chain structure anyways so I also have an idea about that?

Thx.

[iwosh]

With eth gaining new all time highs, the difficulty of mining has suddenly kicked in because peopel feel that thishas becone profitable to mine . Can't wait for countries to launch their own eth based currencies as it would further bri g the price higher

The difficulty is a bit harder now, but not twice as hard (the price is lets say twice as much in $). So it is still a good thing. But I expect the difficulty to rise even if the price will stabilize, so it will be back to similar $/MHs as before...

There are still some cryptos worth mining more, even if you decide to trade them for ETH afterwards.

[premium_domainer]

So wasn't it will turn to pos instead of pow? Is it canceled or are we still waiting for it?

I can't do pow mining due to my hardware but pos is something different.

[free-bit.co.in]

What is happening with Ethereum.I have sent a transaction like 20 minutes ago and it's still unconfirmed?..

[premium_domainer]

What is happening with Ethereum.I have sent a transaction like 20 minutes ago and it's still unconfirmed?..

Now there is another shitty game just like crypto kitties. This time it is pokemons or something similar and it is killing the ethereum network again.

Never send anything before checking here : https://ethgasstation.info/

[free-bit.co.in]

What is happening with Ethereum.I have sent a transaction like 20 minutes ago and it's still unconfirmed?..

Now there is another shitty game just like crypto kitties. This time it is pokemons or something similar and it is killing the ethereum network again.

Never send anything before checking here : https://ethgasstation.info/

Yeah, just saw that..ehh

I canceled my TX after 2 hours and I resented it with a higher gwei fee (55 to be precise..).Also, thanks for the link, it will be helpful in the future.

Over 20k unconfirmed TXs..   

https://etherscan.io/txsPending

[yurimir]

What is happening with Ethereum.I have sent a transaction like 20 minutes ago and it's still unconfirmed?..

Now there is another shitty game just like crypto kitties. This time it is pokemons or something similar and it is killing the ethereum network again.

Never send anything before checking here : https://ethgasstation.info/

Yes! It shows proper gas prices if you want your transaction to go through, as well as a ton of other stats/info regarding the network throughput. If your transactions aren't going through, raise your gas price and try again!