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Ethereum price goes up nearly 50 percent in under a week

coinmarketcap.com

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Re: Ethereum price goes up nearly 50 percent in under a week

#61

Post by woodandsteel »

latenightcoding wrote: post #34

Ethereum brought a lot of geeky fun to my life, it's a great hobby for those interested in cryptocurrencies, distributed systems, compilers and so on. But, it was just that, a hobby. 90% of the people I met in Ethereum meetups and hackathons didn't really understand what Ethereum is, most big companies that invest in Ethereum just do it because they don't want to miss "the next big thing", not because Ethereum solves…

>most big companies that invest in Ethereum just do it because they don't want to miss "the next big thing", not because Ethereum solves any of their problems.

I disagree. First let me say there are two types of companies, those that make use of IT and those that are themselves about IT (ie Microsoft, IBM). Now those that only make use of IT often ignore what their own tech people tell them, and so they are susceptible to tech fads.

But the IT companies pay very close attention to their IT people. And the IT companies have lots of IT people as smart or smarter than you who are quite qualified to look at Ethereum and figure out if there is anything valuable there. The fact that lots of IT companies are getting behind Ethereum says to me it is really going to be valuable, at least for their sorts of businesses.

Let me add that nowadays, banks and other finance institutions are basically IT companies that happen to also have a lot of people that deal with customers directly. So if they think they can use the blockchain to eliminate intermediaries and in the process save billions of dollars, I tend to believe they are correct.

You may be right, however, that a lot of the people at Ethereum meetups don't really understand it.

Re: Ethereum price goes up nearly 50 percent in under a week

#63

Post by DennisP »

wakkaflokka wrote: post #56

I put a fair bit of money into ETH immediately when I saw the NYT article on the announcement of the EEA. If I were to sell now, I will have made a very good bit of money from it. I'm at a crossroads where, given the EEA and their recent white paper about linking private blockchains the banks will potentially be using, with the public blockchain, makes me think I should stay in it. On the other hand, the skepticism i…

Commenters here were deeply skeptical of Ethereum during its crowdsale too. People who bought in and held anyway made a 100x gain, so far.

Personally I develop smart contracts on Ethereum for a living, and business is good. The ecosystem is developing fast.

Re: Ethereum price goes up nearly 50 percent in under a week

#64

Post by Everhusk »

TD-Linux wrote: post #53
antocv wrote: post #38

Turing complete smart contracts are a problem, we will make mistakes, The DAO showed. Programmers can not make perfect software, formal logic is too hard and too expensive. Instead, you can use a cryptocurrency which supports declarative smart contracts, which a lay-person could read, write and understand. Declarative smart contracts, over at https://byteball.org/

You don't even have to invent a new cryptocurrency. Bitcoin has had a non-turing-complete script from day 1. And if you want to run something more complicated, you can use zk-SNARKs combined with a tiny HTLC script on-chain.

Yes and you could also send an email by buying raw materials, manufacturing a computer, writing an OS and an email client... doesn't mean you should.

Re: Ethereum price goes up nearly 50 percent in under a week

#65

Post by kbody »

iMuzz wrote: post #4

The recent price movement could be attributed to the formation of Enterprise Ethereum Alliance[0]. Here's a description from the website for what the EEA aims to do. > "The Enterprise Ethereum Alliance connects Fortune 500 enterprises, startups, academics, and technology vendors with Ethereum subject matter experts. Together, we will learn from and build upon the only smart contract supporting blockchain currently ru…

Unless the formation of Enterprise Ethereum Alliance supports about 10 or so other cryptocurrencies[1], then the formation is not really the reason.

Imo the Bitcoin ETF rejection produced a knee-jerk reaction and caused a lot of potential (in-case-of-approved-ETF) Bitcoin investors to diversify for now with other cryptos as well, then or at the same time cryptotraders started pumping more.

A lot of altcoins are in a crazy pump-and-dump cycles at the moment, so be cautious.

As for Ethereum, no one in their right mind would base something so crucial on such risky and proven-damaging language/platform. Print all the press releases you want to present yourself innovative etc., but it's a rotten foundation if you care about security and reliability. At least I hope we will see some evolution on that side instead of dirty-patching security issues.

[1] http://coinmarketcap.com/

Re: Ethereum price goes up nearly 50 percent in under a week

#66

Post by DennisP »

kbody wrote: post #65
iMuzz wrote: post #4

The recent price movement could be attributed to the formation of Enterprise Ethereum Alliance[0]. Here's a description from the website for what the EEA aims to do. > "The Enterprise Ethereum Alliance connects Fortune 500 enterprises, startups, academics, and technology vendors with Ethereum subject matter experts. Together, we will learn from and build upon the only smart contract supporting blockchain currently ru…

Unless the formation of Enterprise Ethereum Alliance supports about 10 or so other cryptocurrencies[1], then the formation is not really the reason. Imo the Bitcoin ETF rejection produced a knee-jerk reaction and caused a lot of potential (in-case-of-approved-ETF) Bitcoin investors to diversify for now with other cryptos as well, then or at the same time cryptotraders started pumping more. A lot of altcoins are in a…

It might be part of the reason, the ETH price went up dramatically between the EEA and the Bitcoin ETF decision.

Re: Ethereum price goes up nearly 50 percent in under a week

#67

Post by ecesena »

kbody wrote: post #65
iMuzz wrote: post #4

The recent price movement could be attributed to the formation of Enterprise Ethereum Alliance[0]. Here's a description from the website for what the EEA aims to do. > "The Enterprise Ethereum Alliance connects Fortune 500 enterprises, startups, academics, and technology vendors with Ethereum subject matter experts. Together, we will learn from and build upon the only smart contract supporting blockchain currently ru…

Unless the formation of Enterprise Ethereum Alliance supports about 10 or so other cryptocurrencies[1], then the formation is not really the reason. Imo the Bitcoin ETF rejection produced a knee-jerk reaction and caused a lot of potential (in-case-of-approved-ETF) Bitcoin investors to diversify for now with other cryptos as well, then or at the same time cryptotraders started pumping more. A lot of altcoins are in a…

Or both.

Re: Ethereum price goes up nearly 50 percent in under a week

#68

Post by K0SM0S »

Y_Y wrote: post #59
schmichael wrote: post #45

Earlier quoted context omitted.

Using bytes as the unit of currency is awful. That's like releasing a car whose dashboard displays speed in liters.

Incidentally, the SI unit of fuel efficiency is 1/m^2, the "per-square-metre", not this miles per gallon crap.

Miles is a unit of measure, ultimately meters in the SI. A gallon is a volume, liters in the SI, or more fundamentally a fraction of cube-meters (m^3).

m / m^3 = 1/m^2

Which is the unit for fuel efficiency. It's expressed in imperial units but it's physically sound, not 'crap'. ;)

In other parts of the world you'll see this expressed as "liters per 100km" usually.

Re: Ethereum price goes up nearly 50 percent in under a week

#69

Post by ecesena »

It also did 3x since Feb 1st.

I used this spike to cash out half of my ETH bought in July, which basically gave me back in $ my initial investment.

Interestingly, since July, roughly speaking both ETH and BTC doubled their prices. I was expecting ETH to go up, but I wasn't expecting BTC to be equally strong.

Re: Ethereum price goes up nearly 50 percent in under a week

#70

Post by DennisP »

antocv wrote: post #38

Turing complete smart contracts are a problem, we will make mistakes, The DAO showed. Programmers can not make perfect software, formal logic is too hard and too expensive. Instead, you can use a cryptocurrency which supports declarative smart contracts, which a lay-person could read, write and understand. Declarative smart contracts, over at https://byteball.org/

Byteball and IOTA appear to be the same thing. How are they related?
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