[ANN] Ethereum: Welcome to the Beginning

[Viscore]

At least in next couple of year Ethereum has no competitor which can challenge it's supremacy over ERC-20 tokens. There will be lot of competitors in future but if they are underdevelopment Ethereum is also being upgraded with enhanced features. Scaling issue is one of the basic which will be resolved as well in future. Ethereum is like engine for whole ERC-20 tokens which moves with its blocks. This is enough to understand the importance and role of Ethereum in whole economy.

Indeed, ETH has already been moving fast, ERC-20 tokens is the trend now for most project that runs their ICO.
What we are seeing now is a correction, price dump hard but nothing should be taken seriously because we are in crypto and volatility
is high and those who understands the project will hold.

[zahidmoon]

At least in next couple of year Ethereum has no competitor which can challenge it's supremacy over ERC-20 tokens. There will be lot of competitors in future but if they are underdevelopment Ethereum is also being upgraded with enhanced features. Scaling issue is one of the basic which will be resolved as well in future. Ethereum is like engine for whole ERC-20 tokens which moves with its blocks. This is enough to understand the importance and role of Ethereum in whole economy.

Indeed, ETH has already been moving fast, ERC-20 tokens is the trend now for most project that runs their ICO.
What we are seeing now is a correction, price dump hard but nothing should be taken seriously because we are in crypto and volatility
is high and those who understands the project will hold.

yes at the current situation of the crypto market only holders will get benifits and sellers will regret
but what if prices will goes more down and then smart beings will start buyings
i made one decision and that is i am holding everything that i have but if the price will go down more then i will buy more and hold until prices will touch again ATH

[m3ndi3]

ETH is the best now as well as perfectly fits here however there are countless projects upon eth system nowdays.

[inthelongrun]

Ethereum needs to make some changes, otherwise it will really be surpassed by EOS.

By EOS? They say Cardano is the major rival of both Ethereum and EOS. What do you think who will win the race?

Too early to tell now especially that crypto is still in early stage where one single solid partnership can catapult itself at the top. But the of course Ethereum will stay as favorite. I am more keen on a possible Ethereum take over as the top crypto.

[aditimpura]

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[thevictimofuktyranny]

Ethereum Core Devs Meeting #36

Vitalik says: "he does not want to do anything about ASICs"

And, "The community has put forward easy changes to remove ASICs from the network in a draft proposal". (EIP)

Though, it appears he has been misinformed about the nature of the ASICs because they clearly show a modified Raspberry PI or similar product on the unit for the OS.

This does tend to prove they are not computers. Vitalik appears to be under the impression that these ASICs are actual computers, therefore somebody has been misinforming Vitalik.

Therefore, it is fixed hardware ASIC chip, with large amounts of Ram (memory) needed to mine Ethereum. And, it very easy to remove from the network and the community already knows how to do this.

Example A:

Antminer L3+

Sold at $2100 per unit, when the price of Litecoin was high and this equipment had limited availability.

Sold at $1200 per unit, when the price of Litecoin had halved and this equipment was commonplace.

Sold at $800 per unit, when the price of Litecoin at 33% of its peak price and equipment is the oversupplied.

As a forecast - sold at $600 per unit, when the price of Litecoin is obliterated and equipment is abundantly wasteful.

Example B:

RX 580 8GB hard sealing on the price per unit $260

RX 580 4GB hard sealing on the price per unit of £220

RX 570 4GB hard sealing on the price per unit of $180

GTX 1070 8GB hard sealing on the price per unit of $400

GTX 1060 6GB hard sealing on the price per unit of $260

GTX 1060 3GB hard sealing on the price per unit of $199

Below this price point POW profitability, GPU miners will be priced out the market and stop buying mining hardware.

The principal economic difference between GPU POW mining and ASIC POW mining is the GPUs units have a hard sealing at which the unit will not be bought by POW miners that is above the costs of manufacturing. ASICs are cheap to make and have no other users and will drop down by 70-80% of their launch prices to keep being made and sold.

Therefore, you can see the current Ethereum ASIC being sold later this year $200 until a more powerful ASIC for Ethereum is produced. Every ETH collect will get dumped to fund more ASIC production.

[acquafredda]

ASICs and unlimited (uncapped so far) supply could lead to Ethereum's death. I understand this a working progress project aren't all of them like this?) but actions should be taken in order to avoid the slow death of this ecosystem.

[thevictimofuktyranny]

ASICs and unlimited (uncapped so far) supply could lead to Ethereum's death. I understand this a working progress project aren't all of them like this?) but actions should be taken in order to avoid the slow death of this ecosystem.

Well, it seems the ASICs manufacturers and those with exclusive options on buying the mining hardware before everyone else is spamming the internet with stuff about their ASICs not being ASICs, but being computers.

This is impossible to do cheaply - AMD X64 is IPs. Intel X86 is IPs. An ARM has lots of IP. RX Vega and Polaris have ATI/RTG/AMD IPs. Nvidia Maxwell and Pascal architectures have lots of IPs.

Regardless, of what you do - you will need to do license agreements for this IPs from companies to build a computer. None of these companies have been approached by ASIC manufacturers for IP licensing. So, how are they going to build a computer to mine Ethereum by making a cheap computer?

All they are making is ASICs.

[mandibleclaw]

Ethereum doesn't need Asics if it will go full PoS anyway. However, it was only just a matter of time that somebody come up with an Asic for ethash in my opinion

[Angel Di]

Now many already openly speak about transition of a coin to POS. And here as well as in any normal community of opinion disperse as always. Someone for and someone against. In general I think positive dynamics of the price is expected. But how many it will be interesting to cost a coin this year?

[thevictimofuktyranny]

Ethereum doesn't need Asics if it will go full PoS anyway. However, it was only just a matter of time that somebody come up with an Asic for ethash in my opinion

From the Ethereum Core Devs Meeting #36

The Casper POS, they want to move to a 2nd testnet and complete auditing and bug testing.

However, the entire point of the current generation of algorithms design structure is to make it easy to do forks and remove ASICs.

And, there is current draft EIP from the community, which would remove these new ASICs from the network.

[Petersha]

Reply by Vitalik
https://twitter.com/VitalikButerin/status/982194680258486273?s=19

[Nightz]

Don't look at so called analysts but use your own mind for decision taking on anything. Ethereum will be second most effective market after Bitcoin continuously and has no immediate danger from any market. Just see its usage level and projects depending solely on Ethereum before even thinking any project having few ICO's can replace it. It isn't going to happen in couple of  years at least.

Analysts like to panic. The facts show that most projects are launched on the Etherium platform. Many platforms are already making their smart contracts, but these projects still need to catch up with the popularity of Etherium. Etherium, too, will not stand on the spot, there is a constant development of the platform.

And even if analysts panic you don't know whether they do it because they think the market will dive or whether they do it to buy cheaper.

I know that Etherium is gaining momentum and is becoming more popular. The team is constantly improving Etherium in technical terms. Many projects will soon launch their product on this platform. I also know that Eth has grown very much in a year. The entire market also grew sharply. Now there is a correction of the market. A year ago the Eth token cost $ 20.

Nonetheless if you read posts across the forum you start thinking that people are either completely new to crypto or they forgot where we come from. $20 per ETH a year ago. Many people wish they would have the chance again but they know they won't, and then they call a project dead. Contradiction, huh?

yes eth is coming more popular but its also true that its price is going down like BTC
and eth price affect with BTC price because BTC is base crypto but
if eth cross btc. there is alot of chances to eth cross BTC
look at this artical news on CCN
https://www.ccn.com/analyst-predicts-bitcoin-price-drop-2800-year/
really bitcoin could drop 2800$ this year ?

Nobody knows as technology has become much more volatile as a whole. In its early days a good technology lasted for decades. That might be a thing of the past as there are new developments very frequently and strong research is going on in all different directions. I think blockchain is extremely strong and here to stay for a good while, but do we know for sure? Do we know that Ethereum is the ultimate solution to everything? I don't. We got to wait and see how it develops.

[samuraijin]

Reply by Vitalik
https://twitter.com/VitalikButerin/status/982194680258486273?s=19

lol, it looks a lethal answer, i see it like a fun joke, back on ethereum why all feel better than that while they are nothing

[yurimir]

Optimistic news

Billionnaire Fund Manager George Soros plans to trade Digital Assets

The billionnaire fund manager George Soros plans to trade digital assets, even if he described cryptocurrencies as a ‘bubble’ in Januray 2018, according to Bloomberg.

One of his employees who manages macro investing at Soros Fund Management received the permission recently from the company to trade cryptocurrencies.

“As long as you have dictatorships on the rise you will have a different ending, because the rulers in those countries will turn to Bitcoin to build a nest egg abroad,” said Soros on January 25, 2018.

https://the-blockchain-journal.com/2018/04/06/billionnaire-fund-manager-george-soros-plans-to-trade-digital-assets/

[thevictimofuktyranny]

Reply by Vitalik
https://twitter.com/VitalikButerin/status/982194680258486273?s=19

lol, it looks a lethal answer, i see it like a fun joke, back on ethereum why all feel better than that while they are nothing

From the Ethereum Core Devs Meeting #36

Vitalik at the meeting: "contacts in China...they could be a computer...strip down computers...IO on the back...doing fork for a computer when it can be reprogrammed for new fork". Words to this effect.

I don't think Vitalik knows much about hardware or computers and has zero interest in technology.

Every part of a computer is covered by Intellectual Property, you can't use any of the IP without paying money.

Otherwise, you are going to be swimming in a sea of litigation and business closure court orders from Intel or AMD or ARM or NVIDIA.

[thevictimofuktyranny]

Reply by Vitalik
https://twitter.com/VitalikButerin/status/982194680258486273?s=19

lol, it looks a lethal answer, i see it like a fun joke, back on ethereum why all feel better than that while they are nothing

Turning to the Antminer E3 -

Antminer E3 180mhs for 800watts = 1mhs per 4.44watts
RX Vega 64 43mhs for 134watts = 1mhs per 3.11watts.
RX 580 29.5mhs for 98watts = 1mhs per 3.33watts
RX 1060 24mhs for 90watts = 1mhs per 3.75watts

Yelp, Vitalik wants the Ethereum Networks electricity bill to increase with Antminer E3, which has up to 42% higher electricity usage than the GPU architectures! Does not seem very wise, to increase the underlying electricity consumption of the entire network.

Later this year AMD and Nvidia will be releasing new GPUs sporting and an extra 20%-25% performance and enlarged memory throughput.

RX Vega 64 Refresh 51.6mhs for 134watts = 1mhs per 2.59watts

Then, the difference in efficiency will be 59% between current GPU generation and Antminer E3 for electricity bills.

As a guide, each Antminer E3 will cost the network an extra $200-$210 per annum in higher electricity usage (cost calculated at $0.12kWh) - not exactly what the network needs right now!

[GröBkAz]

The actual mega traders whom are becoming out nowadays are actually which is healthy as the coins are becoming much more spread out around the world.

[IncludeBeer]

Reply by Vitalik
https://twitter.com/VitalikButerin/status/982194680258486273?s=19

lol, it looks a lethal answer, i see it like a fun joke, back on ethereum why all feel better than that while they are nothing

Turning to the Antminer E3 -

Antminer E3 180mhs for 800watts = 1mhs per 4.44watts
RX Vega 64 43mhs for 134watts = 1mhs per 3.11watts.
RX 580 29.5mhs for 98watts = 1mhs per 3.33watts
RX 1060 24mhs for 90watts = 1mhs per 3.75watts

Yelp, Vitalik wants the Ethereum Networks electricity bill to increase with Antminer E3, which has up to 42% higher electricity usage than the GPU architectures! Does not seem very wise, to increase the underlying electricity consumption of the entire network.

Later this year AMD and Nvidia will be releasing new GPUs sporting and an extra 20%-25% performance and enlarged memory throughput.

RX Vega 64 Refresh 51.6mhs for 134watts = 1mhs per 2.59watts

Then, the difference in efficiency will be 59% between current GPU generation and Antminer E3 for electricity bills.

As a guide, each Antminer E3 will cost the network an extra $200-$210 per annum in higher electricity usage (cost calculated at $0.12kWh) - not exactly what the network needs right now!

What does this have to do with the linked tweet? It was about plagiarism, not the breakdown of mining equipment lol. Use the reply button for such things, not the quote. 

[YoungBoss18]

Optimistic news

Billionnaire Fund Manager George Soros plans to trade Digital Assets

The billionnaire fund manager George Soros plans to trade digital assets, even if he described cryptocurrencies as a ‘bubble’ in Januray 2018, according to Bloomberg.

One of his employees who manages macro investing at Soros Fund Management received the permission recently from the company to trade cryptocurrencies.

“As long as you have dictatorships on the rise you will have a different ending, because the rulers in those countries will turn to Bitcoin to build a nest egg abroad,” said Soros on January 25, 2018.

https://the-blockchain-journal.com/2018/04/06/billionnaire-fund-manager-george-soros-plans-to-trade-digital-assets/

Very good news. If there is a good news background, there will be a successful price increase. We will monitor the market.