Mining with 2 gb gpu will be finished with increase dag size ?
I'm not sure 
Topic: [ANN] Ethereum: Welcome to the Beginning - page 1049. (Read 2007067 times)
its that time again....hold on... 
Etherium seems really interesting and useful, but regards the price of ETH, my main concern is as following. ETH, as we know, is the fuel of smart contracts. Suppose the cost of creating a contract is 0.01 ETH, then if ETH becomes 100 USD each, the cost will be $1, appreantly too much. We can certainly reduce the cost to 0.0001 or lower, but then it reduce the demand and effectively creates an inflation.
Meanwhile, Etherium is an open source project; after changing to PoS, nothing stops others to create a clone with much lower fuel price. All users can easily switch as long as the VM is compatible. Therefore, we can expect the fuel will always be low, and so is the ETH price in long term, for etherium to be successful.
Any thoughts? I wish someone could prove I am wrong and then I could spend more on ETH investing.
Meanwhile, Etherium is an open source project; after changing to PoS, nothing stops others to create a clone with much lower fuel price. All users can easily switch as long as the VM is compatible. Therefore, we can expect the fuel will always be low, and so is the ETH price in long term, for etherium to be successful.
Any thoughts? I wish someone could prove I am wrong and then I could spend more on ETH investing.
Alright sure, but 72 million of ETH is not really a massive number. I understand your concern if there would be 10 billion in the market. But as it divisible as Bitcoins, it would be the same scenario. If tomorrow Bitcoin becomes massively adopted then 100 bits would be a lot when now it's nothing, same concept here.
Etherium seems really interesting and useful, but regards the price of ETH, my main concern is as following. ETH, as we know, is the fuel of smart contracts. Suppose the cost of creating a contract is 0.01 ETH, then if ETH becomes 100 USD each, the cost will be $1, appreantly too much. We can certainly reduce the cost to 0.0001 or lower, but then it reduce the demand and effectively creates an inflation.
Meanwhile, Etherium is an open source project; after changing to PoS, nothing stops others to create a clone with much lower fuel price. All users can easily switch as long as the VM is compatible. Therefore, we can expect the fuel will always be low, and so is the ETH price in long term, for etherium to be successful.
Any thoughts? I wish someone could prove I am wrong and then I could spend more on ETH investing.
Meanwhile, Etherium is an open source project; after changing to PoS, nothing stops others to create a clone with much lower fuel price. All users can easily switch as long as the VM is compatible. Therefore, we can expect the fuel will always be low, and so is the ETH price in long term, for etherium to be successful.
Any thoughts? I wish someone could prove I am wrong and then I could spend more on ETH investing.
@bit1
you can't (or shouldn't) value ethereum by comparing to bitcoin (price). this doesn't make sense.
try to estimate the potential marketcap compared to other, crypto external companies, targeting a
similar sector. within the finance industry for instance. if you count in the ecosystem, spin offs
and number of devs working on projects and so on, you can see there is a good change ethereum will
hit higher single to lower double digits macap within the next years. these numbers are neither
unsual nor very high within this sector. so yes, ethereum could easily reach a 'much' higher price
than btc just by it's additional - and so far - unique usage scenarios.
and the first bunch of financial institutions are jumping aboard, just as supposed two years ago:
https://bitcointalksearch.org/topic/m.4759732
I am just excited with the recent price spikes going on for ETH and hoping for it to be in par with Bitcoin. My estimate would be 1 BTC = 1 ETH or I could be wrong.
In my opinion, I see that ETH is a lot more useful than BTC (and more powerful) with the ability to create dapps, smart contracts, issue your own assets, etc. If all goes well, it might even become Bitcoin's replacement. I am very optimistic.
Analizing that equality in the event that the value could be the same:
1 BTC = 1 ETH
and considering the supply now only:
15,211,400 BTC = 77,033,300 ETH
so that equality could never be fulfilled
seen otherwise:
Price of BTC $ 401.24 and assuming that ETH could cost the same then:
15,211,400*401.24 is not equal to 77,033,300*401.24
the only way that it can be accomplished is that the price of ETH would be lower than BTC a value aprox. of 79.23. checking:
15,211,400*401.24=77,033,300*79.23
6103422136 = 6103348359*with a little difference of 73777 only by the use of two decimals
Summarizing and speaking only about the unity 1 BTC or 1 ETH :
this leaves room only for:
1BTC > 1ETH just now
1BTC < 1ETH can be but could be very difficult
Note: this approach is only at this stage for these values which remain changing quickly, for nothing it should be taken for an investment decision or something.
Corrections are welcome.........
Your calculations are clear but too simplistic. If Ethereum becomes adopted by companies, apps are created and becomes a standard platform then the price will definitely be much higher than it currently because ETH is actually need to fuel all this huge system. Bitcoin on the hand is idle really, it's not really a payment system because it's far from being adopted by the mainstream if that was the intention. Just mention Bitcoin to a common person or explaining to him what it is and you'll see them yawning or rolling eyes.
Now, of course there's a strong chance that ETH is just MEH and it's used but not so much or something better comes along, however it already have the upper hand on Bitcoin because it doesn't have the bad image, there's a lot of potential and interest from actual big companies and institutions (something Bitcoin will never do due to its bad image). If Ethereum is adopted massively in the next upcoming years then the sky is the limit, much more than BTC actually. If not then $20-30 per ETH in the upcoming months after some good news or deals is perfectly possible too.
$20-$30 per ETH seems like a fair price to me. But first we may need to get to at least the Homestead phase in order to see more changes in price. About 1 BTC = 1 ETH, I was exaggerating a little but it could exist the possibility of that happening if ETH gets adopted by major companies and businesses worldwide. But it is just a matter of adoption and usage of the Ethereum platform.
Say, what is the total supply of ETH to be mined? Thinking about that myself, perhaps the supply would change once ETH hits the PoS stage.
I am just excited with the recent price spikes going on for ETH and hoping for it to be in par with Bitcoin. My estimate would be 1 BTC = 1 ETH or I could be wrong.
In my opinion, I see that ETH is a lot more useful than BTC (and more powerful) with the ability to create dapps, smart contracts, issue your own assets, etc. If all goes well, it might even become Bitcoin's replacement. I am very optimistic.
Analizing that equality in the event that the value could be the same:
1 BTC = 1 ETH
and considering the supply now only:
15,211,400 BTC = 77,033,300 ETH
so that equality could never be fulfilled
seen otherwise:
Price of BTC $ 401.24 and assuming that ETH could cost the same then:
15,211,400*401.24 is not equal to 77,033,300*401.24
the only way that it can be accomplished is that the price of ETH would be lower than BTC a value aprox. of 79.23. checking:
15,211,400*401.24=77,033,300*79.23
6103422136 = 6103348359*with a little difference of 73777 only by the use of two decimals
Summarizing and speaking only about the unity 1 BTC or 1 ETH :
this leaves room only for:
1BTC > 1ETH just now
1BTC < 1ETH can be but could be very difficult
Note: this approach is only at this stage for these values which remain changing quickly, for nothing it should be taken for an investment decision or something.
Corrections are welcome.........
Your calculations are clear but too simplistic. If Ethereum becomes adopted by companies, apps are created and becomes a standard platform then the price will definitely be much higher than it currently because ETH is actually need to fuel all this huge system. Bitcoin on the hand is idle really, it's not really a payment system because it's far from being adopted by the mainstream if that was the intention. Just mention Bitcoin to a common person or explaining to him what it is and you'll see them yawning or rolling eyes.
Now, of course there's a strong chance that ETH is just MEH and it's used but not so much or something better comes along, however it already have the upper hand on Bitcoin because it doesn't have the bad image, there's a lot of potential and interest from actual big companies and institutions (something Bitcoin will never do due to its bad image). If Ethereum is adopted massively in the next upcoming years then the sky is the limit, much more than BTC actually. If not then $20-30 per ETH in the upcoming months after some good news or deals is perfectly possible too.
I am just excited with the recent price spikes going on for ETH and hoping for it to be in par with Bitcoin. My estimate would be 1 BTC = 1 ETH or I could be wrong.
In my opinion, I see that ETH is a lot more useful than BTC (and more powerful) with the ability to create dapps, smart contracts, issue your own assets, etc. If all goes well, it might even become Bitcoin's replacement. I am very optimistic.
Analizing that equality in the event that the value could be the same:
1 BTC = 1 ETH
and considering the supply now only:
15,211,400 BTC = 77,033,300 ETH
so that equality could never be fulfilled
seen otherwise:
Price of BTC $ 401.24 and assuming that ETH could cost the same then:
15,211,400*401.24 is not equal to 77,033,300*401.24
the only way that it can be accomplished is that the price of ETH would be lower than BTC a value aprox. of 79.23. checking:
15,211,400*401.24=77,033,300*79.23
6103422136 = 6103348359*with a little difference of 73777 only by the use of two decimals
Summarizing and speaking only about the unity 1 BTC or 1 ETH :
this leaves room only for:
1BTC > 1ETH just now
1BTC < 1ETH can be but could be very difficult
Note: this approach is only at this stage for these values which remain changing quickly, for nothing it should be taken for an investment decision or something.
Corrections are welcome.........
Hi,
How is DAG change calculated?
How is DAG change calculated?
I am just excited with the recent price spikes going on for ETH and hoping for it to be in par with Bitcoin. My estimate would be 1 BTC = 1 ETH or I could be wrong.
In my opinion, I see that ETH is a lot more useful than BTC (and more powerful) with the ability to create dapps, smart contracts, issue your own assets, etc. If all goes well, it might even become Bitcoin's replacement. I am very optimistic.
Recommended reading: http://bitcoinblog.de/2016/02/12/core-bekommt-ultimatum-ethereum-im-hoehenflug/
Is there a list of working tokens issued on the ETH network?
Is there a site that shows the Bitcoin Hash rate compared to the Ethereum? (And can it really be compared linearly?)
I see BTC at 1.1 BILLION Giga Hashes https://blockchain.info/charts/hash-rate
And Ethereums at 690! https://etherscan.io/charts/hashrate
That is 1.6 million times smaller. Is my math right?
Thx in advance,
IAS
I see BTC at 1.1 BILLION Giga Hashes https://blockchain.info/charts/hash-rate
And Ethereums at 690! https://etherscan.io/charts/hashrate
That is 1.6 million times smaller. Is my math right?
Thx in advance,
IAS
Try breaking it.
Really, is that your answer? You can say the same thing for most alts.
As a holder of Ethereum, it is a genuine question and point.
And as another poster said, they are different algorithms, so how can we compare them?
How would you attack Ethereum (which I have NO desire to do)?
Its about sharing!
My point was that Ethereums network is safe enough on the hash power front. Nor is hash power indicative of how much "trust" or "faith" the industry has in Ethereum. Nobody is going to start a large scale farm or try to make asics for Ethererum. The plan was all along to move to PoS as soon as possible. Ethereum mining is physically distributed in a way Bitcoin isn't, and it will remain so until PoS mining kicks in. After that, who knows what will happen.
Thanks for the answers, appreciated as I have not been keeping up with Ethereum. It will be an exciting time when they move to POS. That is one big experiment. Wow.
All of this crypto thing is still one big experiment!!
Just don't go too far and go David Carradine on us.
Is there a site that shows the Bitcoin Hash rate compared to the Ethereum? (And can it really be compared linearly?)
I see BTC at 1.1 BILLION Giga Hashes https://blockchain.info/charts/hash-rate
And Ethereums at 690! https://etherscan.io/charts/hashrate
That is 1.6 million times smaller. Is my math right?
Thx in advance,
IAS
I see BTC at 1.1 BILLION Giga Hashes https://blockchain.info/charts/hash-rate
And Ethereums at 690! https://etherscan.io/charts/hashrate
That is 1.6 million times smaller. Is my math right?
Thx in advance,
IAS
Try breaking it.
Really, is that your answer? You can say the same thing for most alts.
As a holder of Ethereum, it is a genuine question and point.
And as another poster said, they are different algorithms, so how can we compare them?
How would you attack Ethereum (which I have NO desire to do)?
Its about sharing!
My point was that Ethereums network is safe enough on the hash power front. Nor is hash power indicative of how much "trust" or "faith" the industry has in Ethereum. Nobody is going to start a large scale farm or try to make asics for Ethererum. The plan was all along to move to PoS as soon as possible. Ethereum mining is physically distributed in a way Bitcoin isn't, and it will remain so until PoS mining kicks in. After that, who knows what will happen.
Thanks for the answers, appreciated as I have not been keeping up with Ethereum. It will be an exciting time when they move to POS. That is one big experiment. Wow.
All of this crypto thing is still one big experiment!!
Is there a site that shows the Bitcoin Hash rate compared to the Ethereum? (And can it really be compared linearly?)
I see BTC at 1.1 BILLION Giga Hashes https://blockchain.info/charts/hash-rate
And Ethereums at 690! https://etherscan.io/charts/hashrate
That is 1.6 million times smaller. Is my math right?
Thx in advance,
IAS
I see BTC at 1.1 BILLION Giga Hashes https://blockchain.info/charts/hash-rate
And Ethereums at 690! https://etherscan.io/charts/hashrate
That is 1.6 million times smaller. Is my math right?
Thx in advance,
IAS
Try breaking it.
Really, is that your answer? You can say the same thing for most alts.
As a holder of Ethereum, it is a genuine question and point.
And as another poster said, they are different algorithms, so how can we compare them?
How would you attack Ethereum (which I have NO desire to do)?
Its about sharing!
My point was that Ethereums network is safe enough on the hash power front. Nor is hash power indicative of how much "trust" or "faith" the industry has in Ethereum. Nobody is going to start a large scale farm or try to make asics for Ethererum. The plan was all along to move to PoS as soon as possible. Ethereum mining is physically distributed in a way Bitcoin isn't, and it will remain so until PoS mining kicks in. After that, who knows what will happen.
Thanks for the answers, appreciated as I have not been keeping up with Ethereum. It will be an exciting time when they move to POS. That is one big experiment. Wow.
Is there a site that shows the Bitcoin Hash rate compared to the Ethereum? (And can it really be compared linearly?)
I see BTC at 1.1 BILLION Giga Hashes https://blockchain.info/charts/hash-rate
And Ethereums at 690! https://etherscan.io/charts/hashrate
That is 1.6 million times smaller. Is my math right?
Thx in advance,
IAS
I see BTC at 1.1 BILLION Giga Hashes https://blockchain.info/charts/hash-rate
And Ethereums at 690! https://etherscan.io/charts/hashrate
That is 1.6 million times smaller. Is my math right?
Thx in advance,
IAS
Try breaking it.
Really, is that your answer? You can say the same thing for most alts.
As a holder of Ethereum, it is a genuine question and point.
And as another poster said, they are different algorithms, so how can we compare them?
How would you attack Ethereum (which I have NO desire to do)?
Its about sharing!
My point was that Ethereums network is safe enough on the hash power front. Nor is hash power indicative of how much "trust" or "faith" the industry has in Ethereum. Nobody is going to start a large scale farm or try to make asics for Ethererum. The plan was all along to move to PoS as soon as possible. Ethereum mining is physically distributed in a way Bitcoin isn't, and it will remain so until PoS mining kicks in. After that, who knows what will happen.
Found this interesting article about Ethereum on Cryptomining-Blog. It cointains useful links around Ethereum and is ideal for absolute beginners.
The article's name is 'List of Useful Resources for Ethereum (ETH)'. Enjoy!
The article's name is 'List of Useful Resources for Ethereum (ETH)'. Enjoy!
Is it possible to reach 0.1 BTC ETH
Saying this is taking the problem at the inverse. If we ever reach this point, which seems really improbable for me, this will be because Ethereum would have exploded, would be finished and would have many uses.
Jump to: