[ANN] Ethereum: Welcome to the Beginning

[becoin]

max. supply of ether is now 105,061,446.3125 , but according this article , is there going to be a max. supply 'forever'  ?  

This is starting to get serious, the supply is now close to what Vitalik proposed as "maximum" months back. Hodlers will lose confidence in ETH, if the maximum supply is now decided and coded.

On the contrary ... i think, when there is a 'defined' max. supply, like on bitcoin, then it is more 'attractive'(especially) to hodlers ->
Adopting a maximum supply of ether coins would undoubtedly render Ethereum more attractive to investors.

Ethereum was created as fuel for smart contracts. Now this path for development is clearly abandoned. Ethereum devs don't care about smart contracts anymore. Only pressing issue is how to preserve the value of their ethereum investments. They want to promote it as store of value. The problem is as store of value bitcoin is unbeatable!

[Iamtutut]

Bitcoin mas not created to store value.

Ethereum is hugely versatile, it needs to scale we all know it. It can store value, be used as a mean of payment, fuel smart contracts..

[henke1]

max. supply of ether is now 105,061,446.3125 , but according this article , is there going to be a max. supply 'forever'  ?  

This is starting to get serious, the supply is now close to what Vitalik proposed as "maximum" months back. Hodlers will lose confidence in ETH, if the maximum supply is now decided and coded.

On the contrary ... i think, when there is a 'defined' max. supply, like on bitcoin, then it is more 'attractive'(especially) to hodlers ->
Adopting a maximum supply of ether coins would undoubtedly render Ethereum more attractive to investors.

Ethereum was created as fuel for smart contracts. Now this path for development is clearly abandoned. Ethereum devs don't care about smart contracts anymore. Only pressing issue is how to preserve the value of their ethereum investments. They want to promote it as store of value. The problem is as store of value bitcoin is unbeatable!

there are several kinds of 'store of value' ...usually when they are 'rare'... such as gold, silver, real estate , paintings etc. ... so, why not ethereum ? 

[Bshiki]

max. supply of ether is now 105,061,446.3125 , but according this article , is there going to be a max. supply 'forever'  ?  

This is starting to get serious, the supply is now close to what Vitalik proposed as "maximum" months back. Hodlers will lose confidence in ETH, if the maximum supply is now decided and coded.

On the contrary ... i think, when there is a 'defined' max. supply, like on bitcoin, then it is more 'attractive'(especially) to hodlers ->
Adopting a maximum supply of ether coins would undoubtedly render Ethereum more attractive to investors.

Ethereum was created as fuel for smart contracts. Now this path for development is clearly abandoned. Ethereum devs don't care about smart contracts anymore. Only pressing issue is how to preserve the value of their ethereum investments. They want to promote it as store of value. The problem is as store of value bitcoin is unbeatable!

the main plan has not changed. it seems to me the team just understands that smart contracts can be made not the main direction of development. as an option to make sidechains.
yes, there is disagreement, but in such a team of geniuses this is normal. the situation that is now when fuel for transactions at peak times begins to grow very much in price and this is the moment that needs to be corrected.

[zahidmoon]

Last time devs reduced rewards from 5 to 3 ETH per block in the end of October 2017 and after this was a massive price up. Now rewards reduced from 3 to 2 ETH per block. Seems we will see new huge price movement  

So... ETH devs = ETH Central Bank

When shall we expect the next decision on direction for ETH interest rate? Or, is this a one way street? Is ETH zero interest rate policy already a done deal? And when that is a fact we'll call this transition from pow to pos? How is that different to what Fed is doing?

Well, not exactly. Nov 2017 and Feb 2019 forks reduced the block reward, but they also reduced the time for the block. This is because they postponed the difficulty bomb with 12 months. Calculations show that miners will have even more ETH for the same hardware and for the same amount of time. The reward decrease will be felt at the end of the 12 months, not in the next 6-8 months at least. For the days after the fork my rigs get 20% more ETH than before the fork. Some inexperienced miners may wonder why is that  . I see that the Nethash was 118 Th/s yesterday and 147 Th/s today. These miners saw that the profit is not gone, on the contrary, and switched back their rigs on. Anyway, don't expect this block reward decrease to cause price going up. Everything depends on Bitcoin. If Bitcoin is good, ETH will continue to rise. If the bear market continues (I hope not) then ETH will suffer as before.

by your point of view block reward less and block also reduce and miners now get more reward. suppose in one minute eth blockchain generates 2 blocks and block reward was 3 eth and after the upgrade blockchain generates 3 or 4 blocks and the block reward is 2 eth now then what is the diffrence ?.
only transaction confirmation time is speedup.

[henke1]

interesting read ->
https://breakermag.com/exclusive-afri-schoedon-on-his-contentious-split-from-ethereum/
https://breakermag.com/open-letter-the-ethereum-community-calls-for-end-to-threats-and-toxic-behavior/

[nicecrypto]

max. supply of ether is now 105,061,446.3125 , but according this article , is there going to be a max. supply 'forever'  ?  

This is starting to get serious, the supply is now close to what Vitalik proposed as "maximum" months back. Hodlers will lose confidence in ETH, if the maximum supply is now decided and coded.

On the contrary ... i think, when there is a 'defined' max. supply, like on bitcoin, then it is more 'attractive'(especially) to hodlers ->
Adopting a maximum supply of ether coins would undoubtedly render Ethereum more attractive to investors.

Ethereum was created as fuel for smart contracts. Now this path for development is clearly abandoned. Ethereum devs don't care about smart contracts anymore. Only pressing issue is how to preserve the value of their ethereum investments. They want to promote it as store of value. The problem is as store of value bitcoin is unbeatable!

Damn! Your avatar is sick at some point i thought there was an ant crawling inside my device, freaked out a bit
Now back to the main course, it won't be very nice to allow eth to be seen only as fuel for smart contract, eth can serve more than that, btc can be unbeatable in that aspect but we can always have more than one store of value and eth will do just fine playing the supporting role.

[Altcoinrusher]

Last time devs reduced rewards from 5 to 3 ETH per block in the end of October 2017 and after this was a massive price up. Now rewards reduced from 3 to 2 ETH per block. Seems we will see new huge price movement  

So... ETH devs = ETH Central Bank

When shall we expect the next decision on direction for ETH interest rate? Or, is this a one way street? Is ETH zero interest rate policy already a done deal? And when that is a fact we'll call this transition from pow to pos? How is that different to what Fed is doing?

Well, not exactly. Nov 2017 and Feb 2019 forks reduced the block reward, but they also reduced the time for the block. This is because they postponed the difficulty bomb with 12 months. Calculations show that miners will have even more ETH for the same hardware and for the same amount of time. The reward decrease will be felt at the end of the 12 months, not in the next 6-8 months at least. For the days after the fork my rigs get 20% more ETH than before the fork. Some inexperienced miners may wonder why is that  . I see that the Nethash was 118 Th/s yesterday and 147 Th/s today. These miners saw that the profit is not gone, on the contrary, and switched back their rigs on. Anyway, don't expect this block reward decrease to cause price going up. Everything depends on Bitcoin. If Bitcoin is good, ETH will continue to rise. If the bear market continues (I hope not) then ETH will suffer as before.

by your point of view block reward less and block also reduce and miners now get more reward. suppose in one minute eth blockchain generates 2 blocks and block reward was 3 eth and after the upgrade blockchain generates 3 or 4 blocks and the block reward is 2 eth now then what is the diffrence ?.
only transaction confirmation time is speedup.

Should it be that the recent reducing of block rewards meant slowing the supply stream of ETH and therefore could spike up its price? But I think such correlation don't reflect in these days of market turmoil anymnore. Any ideas?

[adaseb]

Last time devs reduced rewards from 5 to 3 ETH per block in the end of October 2017 and after this was a massive price up. Now rewards reduced from 3 to 2 ETH per block. Seems we will see new huge price movement 

It was just a coincidence. Basically almost every Crypto coin went up in the last quarter of 2017. Doesn't mean there is going to be a crazy rally.

Yes there is a issuance reduction however this was already priced in months ago. Also the miner revenue now is lower than it was at $1400 so it has less of an affect.

ETH won't rally hard until we are out of the BTC bear market and the trend is confirmed. Right now is trading sideways and not doing anything pretty much.

[Invidia]

max. supply of ether is now 105,061,446.3125 , but according this article , is there going to be a max. supply 'forever'  ? 

This is starting to get serious, the supply is now close to what Vitalik proposed as "maximum" months back. Hodlers will lose confidence in ETH, if the maximum supply is now decided and coded.

On the contrary ... i think, when there is a 'defined' max. supply, like on bitcoin, then it is more 'attractive'(especially) to hodlers ->
Adopting a maximum supply of ether coins would undoubtedly render Ethereum more attractive to investors.

Ethereum was created as fuel for smart contracts. Now this path for development is clearly abandoned. Ethereum devs don't care about smart contracts anymore. Only pressing issue is how to preserve the value of their ethereum investments. They want to promote it as store of value. The problem is as store of value bitcoin is unbeatable!

I do not agree bitcoin is unbeatable for now. At this time if you want to buy apples with bitcoin , the apples become rotten if you wait the confirmation of bitcoin transaction . If you use ether you can buy them in few seconds. And this without talking about contracts.

[bitkanu]

max. supply of ether is now 105,061,446.3125 , but according this article , is there going to be a max. supply 'forever'  ?  

This is starting to get serious, the supply is now close to what Vitalik proposed as "maximum" months back. Hodlers will lose confidence in ETH, if the maximum supply is now decided and coded.

On the contrary ... i think, when there is a 'defined' max. supply, like on bitcoin, then it is more 'attractive'(especially) to hodlers ->
Adopting a maximum supply of ether coins would undoubtedly render Ethereum more attractive to investors.

Ethereum was created as fuel for smart contracts. Now this path for development is clearly abandoned. Ethereum devs don't care about smart contracts anymore. Only pressing issue is how to preserve the value of their ethereum investments. They want to promote it as store of value. The problem is as store of value bitcoin is unbeatable!

there are several kinds of 'store of value' ...usually when they are 'rare'... such as gold, silver, real estate , paintings etc. ... so, why not ethereum ? 

Because the real purpose of this coin to become a utility coin and it's not as a commodity coin. People are still using bitcoin as the place to store their value even that's not backed by something that called gold, silver or even fiat money.

[Xandan]

You can not use this example that Bitcoin takes more time to confirm its transaction that's why ETH can beat it based on fast confirmation. That is not logical as real difference is of trust and status what Bitcoin has achieved being first mover and this will always remain. Same we can say there is better platform than Ethereum which used to be it ERC-20 tokens at start and now have better structure than ETH but aren't seeing same support and usability. All these will have usages but differences will remain in sense of trust and uniqueness.

[lobat999]

You can not use this example that Bitcoin takes more time to confirm its transaction that's why ETH can beat it based on fast confirmation. That is not logical as real difference is of trust and status what Bitcoin has achieved being first mover and this will always remain. Same we can say there is better platform than Ethereum which used to be it ERC-20 tokens at start and now have better structure than ETH but aren't seeing same support and usability. All these will have usages but differences will remain in sense of trust and uniqueness.

I agree. Major cryptocurrencies such as BTC, ETH and XRP has its own unique merits and individual pros and cons and all of them strive to compete with one another in terms of development and mass adoption. This also depends on the unique preferences of utility by end users so in this regard, I think humanity will ultimately reap the benefits of the competing cryptos. Imho.

[magisterr]

Last time devs reduced rewards from 5 to 3 ETH per block in the end of October 2017 and after this was a massive price up. Now rewards reduced from 3 to 2 ETH per block. Seems we will see new huge price movement  

So... ETH devs = ETH Central Bank

When shall we expect the next decision on direction for ETH interest rate? Or, is this a one way street? Is ETH zero interest rate policy already a done deal? And when that is a fact we'll call this transition from pow to pos? How is that different to what Fed is doing?

I dont like their politics too (at last I dont like that they have offering unlimited coins which will be issued). But at last reduce number of this coins may have a positive affect price...

[asdlolciterquit]

Last time devs reduced rewards from 5 to 3 ETH per block in the end of October 2017 and after this was a massive price up. Now rewards reduced from 3 to 2 ETH per block. Seems we will see new huge price movement  

So... ETH devs = ETH Central Bank

When shall we expect the next decision on direction for ETH interest rate? Or, is this a one way street? Is ETH zero interest rate policy already a done deal? And when that is a fact we'll call this transition from pow to pos? How is that different to what Fed is doing?

I dont like their politics too (at last I dont like that they have offering unlimited coins which will be issued). But at last reduce number of this coins may have a positive affect price...

just to know, maybe some of you can help me: how many other platform/coin (xem, eos, tron etc) have a unlimted supply of coins?

[mandibleclaw]

max. supply of ether is now 105,061,446.3125 , but according this article , is there going to be a max. supply 'forever'  ?  

This is starting to get serious, the supply is now close to what Vitalik proposed as "maximum" months back. Hodlers will lose confidence in ETH, if the maximum supply is now decided and coded.

Ethereum dosn't have a maximum cap, and since will transition to PoS it's a certain. However if the PoS reward will be fixed, Ethereum will be deflationary since the supply will go up but the reward will stay the same

[henke1]

max. supply of ether is now 105,061,446.3125 , but according this article , is there going to be a max. supply 'forever'  ?  

This is starting to get serious, the supply is now close to what Vitalik proposed as "maximum" months back. Hodlers will lose confidence in ETH, if the maximum supply is now decided and coded.

Ethereum dosn't have a maximum cap, and since will transition to PoS it's a certain. However if the PoS reward will be fixed, Ethereum will be deflationary since the supply will go up but the reward will stay the same

If ethereum supply would be 'capped', as Vitalik desires to , has there been thoughts about 'names' for the 'fractions' of ethereum ? like for example with bitcoin ->
A Satoshi is the smallest fraction of a Bitcoin that can currently be sent: 0.00000001 BTC, that is, a hundredth of a millionth BTC.

maybe 'vita' ....  from 'vitalik' and also meaning 'life' 

[bitcoin_age]

max. supply of ether is now 105,061,446.3125 , but according this article , is there going to be a max. supply 'forever'  ?  

This is starting to get serious, the supply is now close to what Vitalik proposed as "maximum" months back. Hodlers will lose confidence in ETH, if the maximum supply is now decided and coded.

Ethereum dosn't have a maximum cap, and since will transition to PoS it's a certain. However if the PoS reward will be fixed, Ethereum will be deflationary since the supply will go up but the reward will stay the same

Proof of stake will be best for ethereum since its acts like a super computer similar to android where you build your apps for playstore
since we have many operating system on phones Linux, Windows, Mac, Blackberry.  I feel ethereum will be Android of the internet money since all dapps are mostly built on Ethereum. Ethereum is not designed to be store of value but internet of value.  Our internet is the best example of Internet of value where you use internet and pay for using it.. similarly ethereum would be like that.
History has it we dont keep using same exact thing for centuries which is not perfect at all.. digital money is the way out of debt and  is futuristic and eventually goverment will covert ur fiat to digital money.. digital money is way better since it has track record and is done very systemically unlike fiat which is more anonymous then monero lol

[encycrypto]

max. supply of ether is now 105,061,446.3125 , but according this article , is there going to be a max. supply 'forever'  ?  

This is starting to get serious, the supply is now close to what Vitalik proposed as "maximum" months back. Hodlers will lose confidence in ETH, if the maximum supply is now decided and coded.

On the contrary ... i think, when there is a 'defined' max. supply, like on bitcoin, then it is more 'attractive'(especially) to hodlers ->
Adopting a maximum supply of ether coins would undoubtedly render Ethereum more attractive to investors.

Of course. If there is a fixed maximum supply, the investors do know when the coin will stop being dumped by the miners or stakers. In case of unlimited supply, there's no telling that when the dumping will stop!

[DrearyUrbanite]

max. supply of ether is now 105,061,446.3125 , but according this article , is there going to be a max. supply 'forever'  ?  

This is starting to get serious, the supply is now close to what Vitalik proposed as "maximum" months back. Hodlers will lose confidence in ETH, if the maximum supply is now decided and coded.

Ethereum dosn't have a maximum cap, and since will transition to PoS it's a certain. However if the PoS reward will be fixed, Ethereum will be deflationary since the supply will go up but the reward will stay the same

Proof of stake will be best for ethereum since its acts like a super computer similar to android where you build your apps for playstore
since we have many operating system on phones Linux, Windows, Mac, Blackberry.  I feel ethereum will be Android of the internet money since all dapps are mostly built on Ethereum. Ethereum is not designed to be store of value but internet of value.  Our internet is the best example of Internet of value where you use internet and pay for using it.. similarly ethereum would be like that.
History has it we dont keep using same exact thing for centuries which is not perfect at all.. digital money is the way out of debt and  is futuristic and eventually goverment will covert ur fiat to digital money.. digital money is way better since it has track record and is done very systemically unlike fiat which is more anonymous then monero lol

Nobody knows the distribution and that can sometimes be a threat in a PoS blockchain as someone could in theory hold the majority of the voting power. I know it's unlikely, but not impossible.