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Why Ethereum is outpacing Bitcoin

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Re: Why Ethereum is outpacing Bitcoin

#61

Post by 52-6F-62 »

brianwawok wrote: post #45
avaer wrote: post #35

Earlier quoted context omitted.

Prices continually rising is an argument for how this _is_ tulips. The valid counterargument would be that the tulips are largely being used for something other than trading tulips.

Tulips have SOME intrinsic value. If doomsday comes, the world is over.. a toolip can be planted outside your house and it looks a little bit more pretty. Or maybe you can eat it. Gold has SOME intrinsic value. It is very good for certain applications, I believe trace amounts are used in compute parts. Worst case you can make something shiny to look at, that will be rust proof and easy to shape. What is the intrinsic…

Except a large number of companies committed to development and experimentation with the ETH blockchain.

See: https://entethalliance.org/members/

Re: Why Ethereum is outpacing Bitcoin

#62

Post by hackinthebochs »

gfodor wrote: post #18
dpc_pw wrote: post #9

The whole reason why Ethereum is "outpacing" Bitcoin is easiness of taking money from clueless "investors" that feel like they missed the boat on becoming rich through Bitcoin. https://medium.com/@WhalePanda/i-was-wrong-about-ethereum-80... It's going to be a big mess, one this bubble pops.

People have been expecting the crypto bubble to pop for almost a decade now, but prices continue to rise. At some point you have to admit that this isn't tulip bulbs.

But it did popped already? Just because its value didn't go to zero doesn't mean it wasn't a bubble.

Re: Why Ethereum is outpacing Bitcoin

#63

Post by jraines »

DiNovi wrote: post #60
jraines wrote: post #55

The ICO mania definitely contributes to this, but so does the worry about a Bitcoin split. I've read a lot about it and could not give you a coherent answer of what is likely to happen and what would be the impact if it does or does not happen. So people like me (probably in top 5% of knowledge among Bitcoin holders about the technical aspects) put holdings in other coins to wait and see. The coins that stand to bene…

I assume you sold him on the investment tho

He sold himself just on whatever is said on Bloomberg etc. And he views it about like laying $$$ on the Georgia Bulldogs to cover against Alabama, so I'm not going to put up a fight.

Re: Why Ethereum is outpacing Bitcoin

#64

Post by tscs37 »

root_axis wrote: post #37

> As a “hard fork” looms, which looks set to split Bitcoin into two separate currencies that will have to fight for custody of the Bitcoin moniker This already happened to eth when the creators hard forked the chain in an effort to roll back operations of an eth application that was used in a way that the creators did not anticipate. If this didn't kill ethereum why would it be a problem for bitcoin? Fortunately for…

On a technical note; the transaction(s) in question have not been rolled back, rather, the faulty contract was deprived of it's funds and the money was put into a new contract that distributed the funds to the original investors.

It's not a rollback since the original contract is still on chain, just without money. If you fuel it with some money you can use it.

Re: Why Ethereum is outpacing Bitcoin

#65

Post by krrrh »

JohnJamesRambo wrote: post #44
mtgx wrote: post #25

Earlier quoted context omitted.

It's not about "most people," it's about "most cash." The "whales" are buying ICOs left and right, and dumping their Bitcoin/other altcoins. That's the main reason for ETH's rise. Eventually some of these ICOs will prove to be scams, or will get hacked with catastrophic results, and ETH's price will fall again. It doesn't necessarily mean it won't rise back-up again, but by then we'll just have to see if ETH is still…

Ok show me data on what percent of the market cap is from ICOs. Bancor's recent debacle raised 150 million and that is the largest ICO yet. Ethereum has a 36 billion market cap as far as I know.

It's a question of liquidity, not of "market cap".

Re: Why Ethereum is outpacing Bitcoin

#66

Post by wayn3 »

avaer wrote: post #56
komaromy wrote: post #52

Earlier quoted context omitted.

For ETH, that's not really true: you can use it to pay for computation on the Ethereum blockchain. The value you assign to that computation may not be very significant, but it's hard to justify the notion that it's zero.

I'd argue the value of the computation is strictly less than zero, because I could do it cheaper without using Ethereum at all.

thats like saying that the value of gasoline is less than zero because you could just walk the distance without polluting the environment.

computing power is inherently valuable. the value of AWS is less than zero because you could just buy a computer and do the computation cheaper at home. duh.

Re: Why Ethereum is outpacing Bitcoin

#67

Post by dreamdu5t »

Animats wrote: post #51

This is an ad. "Jack du Rose is a cofounder of Colony, an Ethereum-based operating system for open organizations." Whatever that is. (It seems to be a scheme for monetizing StackOverflow rankings.[1] Or something like that. If it even exists. The web site is all pretty pictures with no content.) Most altcoins crash after a while. See Coin Market Cap.[2] [1] https://colony.io/ [2] https://coinmarketcap.com/

I signed up for the mailing list a year ago, and I don't think they've ever offered me access to their alpha. They've been around for 2+ years and don't seem to have a product that's accessible yet.

EDIT: looks like they do now: https://blog.colony.io/colony-beta-product-summary-2121a357d...

Re: Why Ethereum is outpacing Bitcoin

#68

Post by drcode »

opportune wrote: post #2

Could someone that understands crypto better than me explain why Bitcoin's fees and transactions times have become so high all of a sudden? Is it just a matter of network congestion, or does it have as its root some underlying mathematical factor instead? Hoping to get a better answer here than on reddit. /r/bitcoin and /r/btc are both biased echo chambers.

There's a discontinuity in transaction pricing caused by the fact that Bitcoiners are hitting a hard 1MB limit on the blockchain.

It's kind of like the situation with airliners: If there are empty seats left, it's cheap to add another flier. However, once the seats are all taken, it gets extraordinarily costly to get another passenger on board, to the point that they have to violently evict someone to make a spot available.

Re: Why Ethereum is outpacing Bitcoin

#69

Post by jerf »

brianwawok wrote: post #45
avaer wrote: post #35

Earlier quoted context omitted.

Prices continually rising is an argument for how this _is_ tulips. The valid counterargument would be that the tulips are largely being used for something other than trading tulips.

Tulips have SOME intrinsic value. If doomsday comes, the world is over.. a toolip can be planted outside your house and it looks a little bit more pretty. Or maybe you can eat it. Gold has SOME intrinsic value. It is very good for certain applications, I believe trace amounts are used in compute parts. Worst case you can make something shiny to look at, that will be rust proof and easy to shape. What is the intrinsic…

"Tulips have SOME intrinsic value. If doomsday comes, the world is over.. a toolip can be planted outside your house and it looks a little bit more pretty. Or maybe you can eat it."

That's an argument that they don't have intrinsic value, but only value contingent on their ability to look pretty or eat them, both things which themselves will depend on where you are on the Maslow hierarchy and your needs for food vs. decoration.

Same for your argument about gold.

Intrinsic value is not contingent on your needs, and, well, this is why it does not exist and there isn't anything that has intrinsic value and indeed the very concept is incoherent when you try to nail it down. Nothing has intrinsic value; it is all relative to some entity's desires or needs.

Re: Why Ethereum is outpacing Bitcoin

#70

Post by JohnnyConatus »

Animats wrote: post #51

This is an ad. "Jack du Rose is a cofounder of Colony, an Ethereum-based operating system for open organizations." Whatever that is. (It seems to be a scheme for monetizing StackOverflow rankings.[1] Or something like that. If it even exists. The web site is all pretty pictures with no content.) Most altcoins crash after a while. See Coin Market Cap.[2] [1] https://colony.io/ [2] https://coinmarketcap.com/

I don't have access to the beta (yet) but friends do, and it is a legitimate product. They also have a slack channel where they're happy to answer questions.
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