Topic: Do ETH investors understand Ethereum? (Read 2724 times)

I wish I understood Ethereum a few months ago and bought the Etheruem. The price has risen many times since then.

I dont understand ethereum as much as i understand bitcoin some people are just going with the flow and just eventually learn what crypto currency is.

Here's Simon Dixon trying as hard as he can not use the words "pump and dump" and "take profits while you still can"   ....



(He also tried not to use the words "fiat currency" but unfortunately failed in that attempt    )

Ok then, corrected my post.

(Been watching any Mike Maloney videos lately ?    )

More or less. 

BTC - yet -  is more money like (store of value)
ETH (no real use yet) more fuel like kinda game coin / high volatility expected.

Pls get the difference between currency ( Zimbabwe $ is one)    and money ( store of value - what fiat is that? / gold? -> BTC )
 

All investors need to know about Ethereum is:

Bitcoin is a Bearer Token
Ethereum is more like Registered Instrument

Quite a huge difference. One's a "thing", the other is a "pointer to a thing". (Holds smart contracts that tell you you own something, but the "something"  is not the Ethereum tokens. Those just fuel the contract that says you own the "something" which might be a house).

With Bitcoin, the thing you own are the tokens. End of story.

Thats why ETH isn't a limited supply blockchain - as Simon Dixon says "it's more like Fiat, they can print up new ETH whenever they like". Limiting the supply is not an important aspect of the blockchain the way it is with so called "pure money" blockchains such as BTC  

***** P.S. ******

On another subject, w.t.f. is factom ? Why is it going so sky high ?

WRONG.
Bitcoin is a good example.. it's hindered by the fact that the public doesn't know what it is..
how it works etc ..and there for they will not deem it safe, secure & trustworthy.
And then add in the amount of HACKS headlines in crypto for a total of 1 billion usd worth stolen.
You have a scene that looks like a complicated scammy load of Pyramid scheme bullshit.

You guys just refuse as always to see how things actually are.
You all live in a bubble here. a delusional little crypto fantasy world
..where one day the whole planet is going to come kicking your down down screaming take my money now !
(for what ever coin is the flavor of the month your all flogging)

I said i would light my money on fire before buying shit like ETH or Monero etc
So i did !
I posted pictures too  

ya.. i will tell my Grandma "it's like NXT"  

If it can NOT be explained easily to less computer savvy people then it will not get major world wide adoption.
So since the guys here can't even get it i can guarantee you the rest of the world will not.
AKA: ETH is going no where !
You all already seen ETH's high point.. it's all down hill now.

EDIT:
Oh and if it's like NXT then why did they have to make coin #6,676 ?

Not understanding how something works isn't a problem. I'm sure thousands don't understand BTC, let alone how the microwave oven works in their kitchen, but that doesn't prevent them from using it. Yes, Ethereum is an altcoin, and it's also much more. So let's just say that it's better, and worth more. I guess it will be easier to understand once some apps built upon it get famous.

Yes I agree, they should change something about the size of the blockchain.
I am downloading it all day already and I must say it wasn't that easy as advertised.

I am sure they could create a wallet where downloading the whole blockchain wont be necessary.
Because in the beginning Bitcoin had the exact same problem, and they removed that with fast loading wallets like:
Multibit, and Electrum are the ones I know of I am sure there are more.

And also you must think the technology of storing and transferring things is also still improving as well.
We are getting more and more cheap terabytes hdd's and storing files will only get easier!

But what if only a few people can use it at the same time? like 0.000001% of the worlds pop
or maybe you will need to wait days or months to download to your 50000TB hard drive it to use it to do these things?

I know it is amazing in a lot of ways don't get me wrong but what if this is not suitable for the purpose it is being touted for?

I'm not saying this is the case but It seems it's over 10GIG already? is this worrying or will they do something to perhaps to stop it growing like this? maybe a solution where you don't need to store it all to use all the features.

I hope it does become huge (successful not 500000tb) I could do with being rich... even if it's not a fraction as rich as i'd be if i invested in ico. But it seems there could be serious issues. We must wait and see

who knows...

I would Say That Ethereum will be part of the Future.
It is a super computer that can run anywhere in the world, nothing can stop it!

You can build decentralized applications, or even your own currency.
And can also help big businesses automate and safely store secrets anywhere
It is a good investment, would be my pitch

yes i have heard and almost believed in it.
Until half of all the hypers disapeard. they went from attacking everyone doubting eth and that is always a good sign of a fantastic product that you need to force it on people and shit talk to every none believer

partysaurus, haven't you heard that Ethereum will cure cancer, enable pigs to fly, and rejuvenate old men into young studs again?

And of course be a superior currency to Bitcoin, as just a minor facet of its absolute awesomeness. 

but one thing i dont understand why invest in eth on the exchange thats to support the currency right? becuse as it seems now and in the future is that ether would be more used with its apps and what ever new functions it brings and the currency part of it is not going to change the world in anyway. that what im wondering about , feels liek the ether currency want catch on in anyway , but it smart contracts and apps might? correct me if im wrong or missed something.

yes, but it's much simpler for security purposes, right?

How would you explain ethereum in a few sentences or elevator pitch?

Bitcoin has a programming language too. The explanation is actually more complicated.

actually it can--Ethereum is a blockchain with a programming language.  It's basically a generalized version of the altcoin NXT.

the ethereum devs will almost never describe it that simply.  instead they will sell you on pie-in-the-sky ideas.  while most aspects of the ethereum vision are still vaporware (and some are actually impossible to implement--see TPTB's posts), they've been paying money to a marketing team to pump the hell out of this thing.

@OP
I doubt it because they always defend ETH by telling me over & over about "potential app's"
and repeating that it's not considered a currency.

Also the convoluted nature of it is a determent to global world adoption.
It will forever be pigeon-holed to the advanced crypto-nerds who get into the tech seriously deep.
If it can't be explained fairly easily it will never get main stream adoption.
Bitcoin itself is hard enough to explain to users as it is.

Also i love the game the ETH guys played with it too.
It was launched in 2014 with some short lived fanfare.. they seen the backlash and Failure response from us all
and they could see it was not going to be received well.
So they put it on the back burner and waited (think StartCoin + Max's crew etc) <-- looming next maybe
Then they waited until the scene was sufficiently corrupt and greedy
enough to care about a gimmicky scammy launched IPO App'z coin with big promises.
I still NOW.. years later get told it's benefit is "potential" app's (in other words not even app's that exist on launch)
What in the fuck do i give two shits about potential "App's" with a currency for anyway ?
But anyway in case you missed my point what i got a kick out of was the old classic Shitcoin routine here..
and that is ?
Launch a "potential" turd for millions of YOUR dollars collected in BTC. (in exchange of worthless IPO tokens + promises)
It's perfect because since it has nothing going for it on Launch no one will ever pay attention to the Launch.
The masses will simply see it as coin #7,001 and ignore it.. because it was launched as a SHELL
a hollow shell that will be filled later by coded features one day.
Then in YEARS time all kinds of things have been tacked onto it etc to make it look *more* valuable
then finally years later the pace picks up and peoples start investing..
And of course the smoke clears from a scam launch.. dipshits see the coin listed on Exchanges
and assume if it's list then it's ok to use / trade etc.
It's funny because ETH sure as hell ain't the only one who pull this shit scam routine.. cough cough BlockNET ? ROFL

The low hanging fruit is dragging on the ground around here  

The typical excuse a pumper makes when is unable to refute any of the facts stated by me.