Topic: Shit just got real - page 5. (Read 7221 times)

not for me at least. i have no intention of ever putting money into ethereum no matter what the price. i don't have faith in its integrity, security, control over its own complexity or the current market moves.

i wish everyone luck. i'll be shopping elsewhere.

Obviously eth hadn't surpassed btc in every metric except marketcap if we consider its price per coin as a separate criterion. Btc is far more expensive which means it is far more trusted. As for eth having more transactions than btc.. Perhaps these transactions are mostly related to trading. I don't believe eth is more used than bitcoin in real life.

Its good to hear that I am a big ether fan. I was reading some article about ether and ether classic scam . Ether is proving that its having strong potentiality against bitcoin . How about ethereal classic

I'm not sure what you're talking about will be right, because I see the BTC price is already high this year, and I do not know in the next 5 years what price for 1 Btc, maybe it will be higher than the current price. Because I am sure Eth will not be able to compete with Btc price, let alone have to exceed the price above Btc I guess it seems will not happen in the future.

eth will always be a freak scam play with poloniex, like i always said eth and polo do or die by each others. when is moving to POS? never? that's what i say so.

this is unbelievable. I didn't think that it happens very soon. I expected that ethereum will surpass bitcoin after 5 years, not in only a few months. Damn, I need to buy more ethereum for my future or I will never have any chance to buy it with a cheap price

The concept is that since miners are motivated by profit that as mining reward increases they invest more in equipment resulting in an increased hashrate. This increase in hashrate takes time obviously, because equipment needs to be purchased. It can also occur in the opposite direction (usually more quickly) if price drops. In that case mining equipment is taken offline as price drops rather than operate at a loss. So in general hashrate follows price and a higher price leads to increased security.

Mining profits have definitely increased at current price; but, that does not mean ETH is instantly more secure. That would take months to purchase more equipment and there simply isn't enough hashpower available for rent to have much effect.

ETH currently is somewhat unique for miners though because even with an increased price there is no motivation to purchase new equipment. With the foundations intention to abandon miners in favour of POS a miner would be a fool to invest further. Nice for miners though to currently receive a windfall before their equipment becomes useless. This lack of incentive to increase hashrate makes ETH less secure. I won't claim to know much about security once POS is implemented.

Ultimately as a turing complete solution ETH will always face security and incompetency problems as the DAO demonstrated. This is not to say these issues relate directly to mining.

The volume is expressed in US dollars as seen here:

http://coinmarketcap.com/

So on this point it did temporarily exceed bitcoin.

Historically, this is likely the second time that a coin exceeded BTC volume. The first was LTC in 2015. Didn't last long.

http://coinivore.com/2015/07/09/litecoin-exchange-volume-outpaces-bitcoin-for-first-time/

Bitcoin maximalists brought this into existence. They kept claiming that the most secure chain by hashrate, aka the chain which pays miners the most (say, every ~24hours), is the most secure. Because by definition it is the hardest chain to 51% attack. Ethereum pays miners 9million a day, bitcoin 5mil and ETC less than 1mil. Let's look at etc. Because there's just 1 mil ( number pulled out of thin air, i didn't check ) to be shared among all miners, automatically the hashrate will be limited because you can't put as many miners to work on ETC compared to ETH, it becomes unprofitable so much faster. The less miners there are, the easier it gets if you wanna buy / rent hashrate to 51% attack.

Also other bitcoin maximalists arguments for "1 blockchain rule them all": market cap, transaction volume and trading volume. Today it is the second time ethereum surpasses bitcoin in volume. Market cap will be last. Very important to note: although ethereum has 97% of bitcoin's transactions, it surpassed it by a huge margin, because that doesn't take into account all the transactions these tokens that run on ethereum make.

@Ayers you are stupid. What i posted doesn't take into consideration the number of transaction and the volume of the tokens issued on ethereum. If it did, then etheruem would have more transactions than every other project combined, or close. I am talking about onchain ofcourse. Bitcoin has alot of offline transactions.

this isn't some so special because etheruem has more coins issued which mean easily more volume because more coin ar eon the market to be used for trading, the meters to judge if something is better than bitcoin is the usage for me not the volume, and ETH is not used aside form pump and dump

Can you please explain how mining reward means most secure chain by hashrate?

Ideals like not working as a peer to peer electronic cash because you need 5$ to send 1 cent worth of btc. Ideals like having it centralised in a communist country that can kill btc with a switch if it suits their purpose. Ideals like having a broken governance model and not being able to adapt and survive.

Well that is just a mere accusations that I think they will spread out to surely downgrade ETH, but instead it really makes it even stronger, I think if bitcoin have a misunderstanding and a split is gonna happen, maybe? Ethereum has an EEA that is Enterprise Ethereum Alliance that are collectively develop industry standards and encourage collaboration between its various members. and they have remarkable names that might be a threat to bitcoin, and Vladimir Putin really makes it's way in endorsing ETH, we will never know what will happens next so I think investing with ETH have really a potential in becoming number 1.

ETH has potential just because everyone is choosing its smart contracts feature over bitcoins, which gives more power to ICOs that want to distribute their tokens in a more safer, effective way. But I still think that it is overvalued atm, it should be even more and I think it should be half the rate of bitcoins but not now because too much value can cause harm to its prestige currently.

but money is smart, it will choose the best way in the market
you can earn more ,why not?

Max coin limit..

I also heard the scam accusations and didn't join in.
But suppose I want to do it now, do you think it's worth it?
Will it keep going up like the bitcoin did in the last month?
What should I check before buying in?

Whatever, you can have your eth..

ETH is not what I want in a libertarian currency.. It pales in comparison to the ideals behind BTC..

Who said that the ethereum just a scam coin and they must cry to see the real potential of etehreum token. That means the ethereum already surpassed bitcoin regarding the technical analysis and it looks good.
How the community is always growth everytime.

Ethereum to be the number 1 is really possible.

I'm sorry that you listened to those goons Spoetniktard and Spartak_nt. I estimate that their 'advice' have cost you a clear $100,000.