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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

#71

Post by jcfrei »

DennisP wrote: post #63
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.

I didn't know you could already do this for a living. Care to share what kinds of smart contracts?

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

#72

Post by OJFord »

flippyhead wrote: post #58
OJFord wrote: post #54

Earlier quoted context omitted.

Are you kidding? Who doesn't want an Uber for the Blockchain, where they can enter into a smart contract with their driver before getting into the vehicle?!

I don't specifically want that. I don't not want it either.

Perhaps it wasn't clear, bit I was kidding :)

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

#73

Post by reedlaw »

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…

Take a bit out now that it's at an all-time high. Ask yourself what you would regret in different scenarios? If it went down, of course you wouldn't regret it. But if you cashed out some now and it continued to go up could you live with it? What if you used the money to buy something important to you?

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

#74

Post by Jabanga »

OJFord wrote: post #54
ferologics wrote: post #49

Earlier quoted context omitted.

I especially dislike the "let's make spotify, but on blockchain" approach the community has. They simply don't get that people won't switch over to their solution just because it's running ethereum blockchain.

Are you kidding? Who doesn't want an Uber for the Blockchain, where they can enter into a smart contract with their driver before getting into the vehicle?!

I want that. Then it would be truly peer-to-peer. Where intermediaries are needed, the services the intermediaries offer can be debundled so that there's competition for the various services, driving fees down and quality up.

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

#75

Post by Jabanga »

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…

I remember six years ago when there was a similar skepticism about Bitcoin. Those skeptics were proven wrong, and I believe they will be proven wrong again, about Ethereum.

But be warned, it will be a long time before it matures, and it will be a bumpy ride.

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

#76

Post by NurAzhar »

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…

after the hardfork just use MySQL

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

#77

Post by Tezos »

SomeStupidPoint wrote: post #37
natosaichek wrote: post #32

Earlier quoted context omitted.

One of the cool things about Ethereum is that you can build your non-turing-complete contract software on Eth, and use Eth to check your NTC-Eth contracts. I can't think of anything stopping you from doing this right now. Maybe you or other people can weigh in on why it's not feasible?

The ETH language semantics aren't what I'd want for verification proofs, even restricted to a subset. It's possible there are conflicts between the execution model and what would be required for verified, secure contracts. Similarly, Id want a proof-checked VM for the currency, which ETH is pretty far from supporting. So verified-ETH would be a larger, more bug-prone project than starting from first principles, devel…

https://tezos.com/pdf/language.txt

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

#78

Post by yazaddaruvala »

flippyhead wrote: post #58
OJFord wrote: post #54

Earlier quoted context omitted.

Are you kidding? Who doesn't want an Uber for the Blockchain, where they can enter into a smart contract with their driver before getting into the vehicle?!

I don't specifically want that. I don't not want it either.

I've wanted that. Barring privacy, safety and quality concerns.

If it is possible in ETH to build smart financial contracts but also encode state into the "wallet", such that reputation was earned or lost, then they really might have a winning strategy.

There is no real reason why distributed Uber/Lyft shouldn't exist.

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

#79

Post by merlincorey »

vvillena wrote: post #48
TorKlingberg wrote: post #40

Earlier quoted context omitted.

Ultimately a cryptocurrency, like many things, is only worth what people are willing to pay for it. If people decide to stop using Old Etherium and switch to New Etherium that works the same and where everyone except the hacker get New Eth for their Old Eth, there is no way to stop them.

Exactly. Code is indeed law, but we should take into account both the code living on the blockchain and the code the nodes are running.

This is a good point - the implementation always matters. If the implementation changes, it doesn't matter what the original specification was, the new implementation is the new spec, if it gains mass adoption.

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

#80

Post by tominous »

reedlaw wrote: post #73
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…

Take a bit out now that it's at an all-time high. Ask yourself what you would regret in different scenarios? If it went down, of course you wouldn't regret it. But if you cashed out some now and it continued to go up could you live with it? What if you used the money to buy something important to you?

See prospect theory [1]. But I think GP is approaching it in the right way to avoid these suboptimal biases: set reasonable limits up-front but otherwise treat it as a game.

[1] https://en.wikipedia.org/wiki/Prospect_theory

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