Topic: [ETH] Ethereum Observation Thread - page 2. (Read 4763 times)

Made this screenshot yesterday

It's irritating to me that I can't see the market without having a verified (passport pictures) account.  I'm more interested in how deep the order book is between the $1 & $2 mark than the top bid.

A better indicator than ethercoin ... still tough to know much till buyers and sellers start getting matched.

Guys, if you're looking for an indication of what Ether is worth in the market, the highest bid at Gatecoin is currently 0.0076 BTC.

I'm not saying that means anything for the future.

https://gatecoin.com/marketDepth

The more I think about it, the more I think this is what is going to happen. If Ethereum is at all successful from a price standpoint there will be Ethereum copies, and I think we will see them fairly quickly. I wouldn't be surprised if there are people working on some right now. Since it's a more complex system, maybe this will provide some barrier to typical clones. Once Ethereum is out in the wild though, and various unexpected behavior is seen, copies may be able to alter things that can't be changed in the original, in the same way bitcoin copies tried to improve on bitcoin. I doubt they will overtake Ethereum, unless some sort of serious flaw is discovered in the original, but they can probably steal away some marketshare. Also, Dapps developed for Ethereum could presumably run on a copied version.

The price of ETC in no way reflects the price of ether. ETC is an altcoin with supply 1 million coins that has been pumped and will undoubtedly be dumped hard when ethereum launches. If you're expecting anything near $3 for your ether you will be sadly mistaken. In fact, I would not be surprised to see ether fall below crowdsale prices soon after launch.

In the years to come, if ethereum fulfills its lofty vision, maybe you'll see $3 per coin, but you won't see anything close to that on launch.

On pricing there is no way 180 million at $3 will be on the sell side either.  So it's tough to have any idea on how it will balance out

 I think there are many of us who are much more interested in supporting and being part of the of long term goals ... 100k tps, decentralized Uber etc than turning a quick buck over something that had a super high risk of dying during a 12 month maturation cycle.  

They sold ~ 60 million ether at the pre sale.

At ~$3 / ether as the current best guess (ethercoin price), that would be $180 mil market cap.

There is not going to be 180 million waiting to buy when they launch, and many many people will dump their coins when it does launch.

I'm sure the price will drop at launch, but for those that hang in there.. it could be the one that goes 1:1 with BTC. Or 1/3:1 as there are already 3 times more ether than the total BTC supply.

They are so different, that I don't see it as a threat to Bitcoin.

Vitalik wants to switch to POS, not POW, which is a good idea since POW is great for COINS, but POS is great for blockchains that provide a service.  (Once he's happy that POS can work)

MORE importantly.. It's going to be fresh / new / interesting to see just what this puppy can do (been a while since something NEW came along), and if anyone can actually understand it.. and how to use it..

Come on Ethereum devs..!  We beseech you.. don't disappoint us.. impress us.. inspire us.

..that's all that we ask of you. I know - it's a lot..

This is a very useful thread, I rediscovered Ether today after putting the pre sale to one side and simply forgetting about it, kind of wish I got in at that point although... once they release their genesis block and all the initial investors can use their coins I foresee a dump happening so could still get some cheapish coins 'maybe'

behave like storjcoin? you mean it will hardly get to top 50 , now seriously. When you checkout promotional videos for cryptos on youtube, they have like 150 views months after launch. Ethereum explanatory video has 36000...that says something. I think ETH will be in totally different league than top 10 altcoins. I think that it might be THE Bitcoin 2.0

Im looking forward to bitocin maximalists and their reaction

This project is legit. Consider the quantity and quality of work put in (github, blog posts, conferences/meetups, transparency efforts...), along with strong external validation/support (Szabo, IBM...). Therefore I'd expect Ether to behave similarly to Storjcoin (SJCX), another serious project, rather than your average alt scam.

Frankly, using "pump and dump" and Ethereum in the same sentence is somewhat insulting IMO.  

 Crowdsale / IPO.  They did have a massive legal research period (which is more than most) to make sure they were legal.  (Might make blatantly fucking people over more difficult ... or not).

Also they delivered PoC before they sold - now they are just creating the genesis block (after a year of further development and testing.)



Yeah - possible.  If the network effects choose a different coin the Eth team is ok with that.  They understood from the beginning & felt open source was still the only way to go.  IBM has already forked Ethereum - a few banks & warehouse type companies have also forked their own private chain for testing.  Counterparty forked and put Ethereum on the Blockchain.

I'm pretty sure the consensus will go with the original devs as long as they are producing code to make it more scalable, faster, more stable etc (but again - that's just all assumption on my part & I am biased.  Or maybe I've seen too many bitcoindark and lightcoincounterpartydarkcoindoge's to have much faith in copies.)

Sounds like a premined mess. It will pump and dump just like every altcoin, ever, siphoning money from noobs. Count me out.

Ethereum is open source right? So maybe a flood of Ether-alts (Ethershits?)... Etherdark... Etherlite.. bitEther..

So if Etherium becomes successful what does that mean for the internet, bitcoins, and altcoins?

And if I'm understanding this correctly, Ether will be the underlying currency of this technology?

I think the price will start off initially high, then rapidly crash as people dump for profit. If the devs have given themselves big shares and they are short of money then they might also dump along with the investors. After the Bitshares IPO it went to the number 2 coin in price, then crashed heavily and is number 8 today. Ethereum might follow a similar path.

They are very good at coding stuff, but when it comes to
project administration, it is a different thing altogether... which
translates to mishandling of finances.

Still, what little I've played with Ethereum left me rather
impressed. So I'm expecting great things from it. Or to be
precise, if Ethereum team messes up, I expect great things
from someone else who takes the lead along the track opened
by Ethereum.

Any more info on this Ethercoin and its relation with Ethereum project ?

Useful piece with good summary, the OP is clearly biased in favor of Ethereum but manages to put ina fe line about the negatives so points for that.

The name is not Charles Hopkins, btw. It made me laugh


Yes, they are incompetent and greedy. They wanted the glory of success but wanted to get their paycheck in early in case it failed.

In my opinion, the way that the funds were drained, a competent team of people could have done much more. A few google tech's could put together what Ethereum wish to offer on a budget 10x less and produce 10x more.

That's not to say that Ethereum are a scam, just that it is incredibly insulting to suggest that after a year and multi-million pound donations, they are asking for more.

"Pumping and dumping" and "Highly inflationary PoW" both offset.  Inflationary PoW rewards miners.  Limited supply rewards big holders / pump and dumpers.  These are goals that fight against each other.

The pre-sale lasted a full month with a test client already built.  If the founders intending to create panic buying - they did a poor job of it.  They DID do a good job of maximizing their bitcoin raising potential (which again - seems to offset the accusation of intentionally creating panic buying while limiting supply) at the expense of being able to create panic buying now.  

Any current demand has been created by the completion of the project and taking away the risk that existed at the time of pre-sale.  Not the limiting of supply.  If there's an accusation - it should be that they maximized their bitcoin raising potential at the expense of letting people capitalize on panic buying (the accusation you are making).  Again - the way things were done don't work towards creating a panic buying scenario.  


It's a high enough profile project (outside of bitcointalk forum) with enough funds raised that I would suspect after nearly two years in the making something like this would exist already somewhere.  If you find or make something - link it here & I'll put it in the OP!  I would be highly interested in reading it.


Fair criticism.  Looks like about the same distribution as litecoin.