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lets have a brutally honest conversation about ethereum
Poast new message in this thread
Date: January 17th, 2018 11:08 AM Author: Mint garrison let’s grant that it has unlimited potential as the platform for a host of world changing applications. but let’s also assume that as technology improves over time, it will become cheaper to maintain the blockchain. especially if it switches to a proof of stake system.
there are no barriers to entry to becoming an eth miner, so it would be impossible for miners to charge a higher gas price than the cost of maintaining the blockchain, which itself we agree is going to come down a ton. and of course eth will be diluted over time as miners get more coins that subsidize more mining (and further reduces the gas price and thus the ethereum price).
you can point to demand for the various tokens built over ethereum’s platform, but those tokens again are going to converge to the marginal cost of mining.
please refute this logic and convince me ethereum has a bright future as a long term play |
Date: January 17th, 2018 11:08 AM Author: Puce Angry Hospital Regret *hits tutu pipe*
LOL SELLCUCK |
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Date: January 17th, 2018 11:10 AM Author: Mint garrison lmao not the answer i’m hoping for as a current bag holder (http://www.autoadmit.com/thread.php?thread_id=3862551&forum_id=2#35175086) |
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Date: January 17th, 2018 11:11 AM Author: Puce Angry Hospital Regret I'm just trying to give you an authentic answer as you would hear from 90% of crypto investors (http://www.autoadmit.com/thread.php?thread_id=3862551&forum_id=2#35175094) |
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Date: January 17th, 2018 11:31 AM Author: Indigo well-lubricated market roommate (http://www.autoadmit.com/thread.php?thread_id=3862551&forum_id=2#35175344) |
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Date: January 17th, 2018 11:09 AM Author: Supple jap immigrant what if I told you that the value of ETH had little to do with its underlying utility but rather was based on animal spirits (http://www.autoadmit.com/thread.php?thread_id=3862551&forum_id=2#35175069) |
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Date: January 17th, 2018 11:10 AM Author: Mint garrison that’s what i’m driving at. i want someone to prove otherwise (http://www.autoadmit.com/thread.php?thread_id=3862551&forum_id=2#35175081) |
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Date: January 17th, 2018 11:12 AM Author: galvanic pearl ticket booth (http://www.autoadmit.com/thread.php?thread_id=3862551&forum_id=2#35175097) |
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Date: January 17th, 2018 11:13 AM Author: Bat-shit-crazy Step-uncle's House Athletic Conference What are we "investing" in?
Aren't these things protocols like TCPIP or HTML? Are they patented? What's the end game with ethereum vs. Bitcoin vs. NEO?
That's where I'm confused, I really don't even know what question to ask. |
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Date: January 17th, 2018 11:22 AM Author: Vibrant Gay Death Wish shh don't startle the animal spirits u fool (http://www.autoadmit.com/thread.php?thread_id=3862551&forum_id=2#35175251) |
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Date: January 18th, 2018 3:58 AM Author: Territorial Tattoo School 1 fucking 80 (http://www.autoadmit.com/thread.php?thread_id=3862551&forum_id=2#35181602) |
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Date: January 17th, 2018 11:21 AM Author: Vibrant Gay Death Wish (http://www.autoadmit.com/thread.php?thread_id=3862551&forum_id=2#35175245) |
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Date: January 17th, 2018 11:38 AM Author: balding affirmative action (http://www.autoadmit.com/thread.php?thread_id=3862551&forum_id=2#35175404) |
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Date: January 18th, 2018 2:33 AM Author: diverse fiercely-loyal address I would agree. (http://www.autoadmit.com/thread.php?thread_id=3862551&forum_id=2#35181542) |
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Date: January 17th, 2018 11:11 AM Author: flushed hall there will only ever be 21 million btc, which is why its value must tend toward infinite over time. ljl at ethcucks (http://www.autoadmit.com/thread.php?thread_id=3862551&forum_id=2#35175090) |
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Date: January 18th, 2018 2:33 AM Author: diverse fiercely-loyal address *forks a fork's forked fork* (http://www.autoadmit.com/thread.php?thread_id=3862551&forum_id=2#35181544) |
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Date: January 17th, 2018 11:13 AM Author: Mint garrison the counter argument i think has to focus on the value of eth based tokens, but the SEC says they’re securities so without a favorable new regulatory regime this argument isn’t that great imo (http://www.autoadmit.com/thread.php?thread_id=3862551&forum_id=2#35175114) |
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Date: January 17th, 2018 11:14 AM Author: stirring brunch partner didn't someone say that holding ethereum for its value is like holding batteries in the beginning of electricity? they're useful, but at some point they will just be a commodity or low marginal cost (http://www.autoadmit.com/thread.php?thread_id=3862551&forum_id=2#35175119) |
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Date: January 17th, 2018 11:18 AM Author: Mint garrison never heard that but it makes a scary amount of sense (http://www.autoadmit.com/thread.php?thread_id=3862551&forum_id=2#35175162) |
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Date: January 17th, 2018 11:14 AM Author: haunting goal in life Aren’t you the guy who was up mega bigly in crypto? I’m curious, what’s your emotional state right now? (http://www.autoadmit.com/thread.php?thread_id=3862551&forum_id=2#35175124) |
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Date: January 17th, 2018 11:15 AM Author: Mint garrison lmao i’ve been better (http://www.autoadmit.com/thread.php?thread_id=3862551&forum_id=2#35175127) |
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Date: January 17th, 2018 11:19 AM Author: plum demanding mood crackhouse Governments will kill any non government approved blockchain currency. Once upon a time every bank minted its own money. ETH will go the same way as dollars minted by those banks. Blockchain currencies will be a thing -- blockchain rubles,yuans, dollars etc.... Bitcoin and ETH will be footnotes in the history books except that ETH based blockchains will probably endure as back end warehousing systems deep inside banks where they will replace old databases built on Cobol or Oracle. (http://www.autoadmit.com/thread.php?thread_id=3862551&forum_id=2#35175194) |
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Date: January 17th, 2018 11:25 AM Author: Mint garrison every municipality in the country attempted to strangle uber in its crib on behalf of incumbent cab companies. regulatory capture typically happens because the beneficiaries and benefits of innovation are widely dispersed and people can’t learn info and politically mobilize in a cost effective way. social media changed that and uber is now a thing.
this is an hugely imperfect analogy so feel free to mock me. but maybe if enough people grow to support cryptos a democratic government may have trouble shutting them down. the upcoming south korea elections may be a test case |
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Date: January 17th, 2018 11:26 AM Author: stirring brunch partner watch this and you will understand why it's impossible to censor Bitcoin, unless you can censor the whole internet basically: https://www.youtube.com/watch?v=3mUcpsbnhGE (http://www.autoadmit.com/thread.php?thread_id=3862551&forum_id=2#35175309) |
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Date: January 17th, 2018 11:29 AM Author: Bat-shit-crazy Step-uncle's House Athletic Conference China does this. If a government made it illegal under the guise of being suspicious of money laundering, it would deter most people. Not good folks (http://www.autoadmit.com/thread.php?thread_id=3862551&forum_id=2#35175332) |
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Date: January 17th, 2018 11:35 AM Author: maize famous landscape painting yeah if china ever tries to ban bitcoin it'll ruin bitcoin lol hope that never happens (http://www.autoadmit.com/thread.php?thread_id=3862551&forum_id=2#35175374) |
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Date: January 17th, 2018 11:30 AM Author: plum demanding mood crackhouse Im sure after the Russian and Chinese governments shoot a few dudes everyone will just rush to own more bitcoin. (http://www.autoadmit.com/thread.php?thread_id=3862551&forum_id=2#35175341) |
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Date: January 17th, 2018 11:33 AM Author: Mint garrison the idea of authoritarian regimes oppressing their people into economic stagnation while the free world enjoys incredible technological innovation sounds awesome (http://www.autoadmit.com/thread.php?thread_id=3862551&forum_id=2#35175361) |
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Date: January 17th, 2018 11:38 AM Author: plum demanding mood crackhouse China and Venezuela are like half the tards buying this shit. (http://www.autoadmit.com/thread.php?thread_id=3862551&forum_id=2#35175401) |
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Date: January 17th, 2018 11:27 AM Author: bossy appetizing clown (guy who thinks ethereum tokens are meant to be used as currency) (http://www.autoadmit.com/thread.php?thread_id=3862551&forum_id=2#35175314) |
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Date: January 17th, 2018 11:28 AM Author: Mint garrison (http://www.autoadmit.com/thread.php?thread_id=3862551&forum_id=2#35175321) |
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Date: January 17th, 2018 12:13 PM Author: Bat-shit-crazy Step-uncle's House Athletic Conference Is it like owning a transmission line company in the unregulated power model? Eg) Power generating companies pay you to maintain the lines and transport the electricity? So its assumed that companies will pay you to own the ETH (a power line) and keep the network afloat?
I don't know question to ask there has to be a simple analogy. |
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Date: January 17th, 2018 11:24 AM Author: Beta nursing home dapps are bullshit, smart contracts are bullshit. if they weren't then at least ONE useful and practical one would have materialized by now. that hasn't happened. all ETH will ever be used for is transferring value, like bitcoin. and it does that very well. but so can many other cryptos. (http://www.autoadmit.com/thread.php?thread_id=3862551&forum_id=2#35175288) |
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Date: January 17th, 2018 11:30 AM Author: racy state nowag (http://www.autoadmit.com/thread.php?thread_id=3862551&forum_id=2#35175342) |
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Date: January 17th, 2018 11:38 AM Author: Unholy orange pit depressive (Guy who thinks you can built a dapp in 2 days) (http://www.autoadmit.com/thread.php?thread_id=3862551&forum_id=2#35175403) |
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Date: January 17th, 2018 12:24 PM Author: Beta nursing home ethereum has been around since 2014 homie, and most of the dapps you've been hearing about have been "in development" for nearly two years, all while making bank on token ICOs (http://www.autoadmit.com/thread.php?thread_id=3862551&forum_id=2#35175779) |
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Date: January 17th, 2018 11:39 AM Author: bossy appetizing clown dapps are shit right now because ethereum needs to scale to support them. its a bottleneck in the industry. fortunately it looks like ethereum will successfully scale in 2018. (http://www.autoadmit.com/thread.php?thread_id=3862551&forum_id=2#35175415) |
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Date: January 17th, 2018 12:25 PM Author: Beta nursing home you're dreaming. of all the DAPP proposals, you don't need a blockchain for 99% of them. (http://www.autoadmit.com/thread.php?thread_id=3862551&forum_id=2#35175784) |
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Date: January 18th, 2018 8:20 AM Author: multi-colored rehab Blockchain has applications in the insurance industry. I can't think of any others. (http://www.autoadmit.com/thread.php?thread_id=3862551&forum_id=2#35181910) |
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Date: January 17th, 2018 11:36 AM Author: Mint garrison so the takeaway from this thread is that ethereum is going to exponentially tank over the next 5 years then. good talk guys. (http://www.autoadmit.com/thread.php?thread_id=3862551&forum_id=2#35175382) |
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Date: January 17th, 2018 11:39 AM Author: Unholy orange pit depressive Good thing it'll get to $5K in the next 5 years and it will mint hundreds of millionaires in the process! YNY. (http://www.autoadmit.com/thread.php?thread_id=3862551&forum_id=2#35175409) |
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Date: January 17th, 2018 11:39 AM Author: Mint garrison i wish!!! show your work tho (http://www.autoadmit.com/thread.php?thread_id=3862551&forum_id=2#35175414) |
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Date: January 17th, 2018 11:42 AM Author: Alcoholic haunted graveyard Can someone please refute the points made herein (http://www.autoadmit.com/thread.php?thread_id=3862551&forum_id=2#35175434) |
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Date: January 17th, 2018 11:50 AM Author: Mint garrison i think the consensus response is apparently “LMAO SELLCUCK HODL!!!”
i, for one, find this very reassuring |
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Date: January 17th, 2018 12:14 PM Author: motley crawly meetinghouse son of senegal can't wait to blank bump this thread in 6 months when ethereum is at 5k (http://www.autoadmit.com/thread.php?thread_id=3862551&forum_id=2#35175721) |
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Date: January 17th, 2018 12:17 PM Author: Mint garrison holy shit guys i’m not saying “lol eth is fucked.” i own a bunch of eth i’d love if it hit 5k
are you saying this will happen despite a massive spike in miners scrambling to churn out more eth to meet the public’s irrational demand for these coins? i just want to know why |
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Date: January 17th, 2018 12:17 PM Author: motley crawly meetinghouse son of senegal (guy who thinks the crypto bubble is something that can be rationally analyzed) (http://www.autoadmit.com/thread.php?thread_id=3862551&forum_id=2#35175740) |
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Date: January 17th, 2018 12:19 PM Author: Mint garrison what an unsatisfying answer (http://www.autoadmit.com/thread.php?thread_id=3862551&forum_id=2#35175749) |
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Date: January 17th, 2018 12:21 PM Author: motley crawly meetinghouse son of senegal https://people.hofstra.edu/geotrans/eng/ch7en/conc7en/img/stages_bubble.png
ok i got you fam |
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Date: January 17th, 2018 12:25 PM Author: Anal Cream Indian Lodge You’re 100% right. It’s actually even worse than you say because GASPRICE is decoupled from yhe cost of ETH by design.
Over the medium term, utility coins head to zero, store of value coin (and here will only be one) goes up bigly.
http://s3.eu-west-2.amazonaws.com/john-pfeffer/An+Investor%27s+Take+on+Cryptoassets+v6.pdf |
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Date: January 17th, 2018 12:28 PM Author: Mint garrison yo that looks like a shitton of pages but really interesting.
isn’t it better if the price of gas is decoupled from eth though? then my coins can be worth whatever the market says even as the gas price goes down |
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Date: January 17th, 2018 1:22 PM Author: Mint garrison (http://www.autoadmit.com/thread.php?thread_id=3862551&forum_id=2#35176318) |
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Date: January 17th, 2018 1:25 PM Author: dull disgusting spot But I think there are 2 very good counterpoints regarding ETH's utility and pricing
1) WHEN MOON? 2) WE LAMBO
clear? |
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Date: January 17th, 2018 1:29 PM Author: Mint garrison Goddamnit. Fuck fuck fuck Ive held eth all this time and never bothered to really dig in till this morning. just gave you idiots the benefit of the doubt that it wasn’t such a fucking terrible investment proposition. Jesus Christ fuck fuck I’ve been conned by neckbeards (http://www.autoadmit.com/thread.php?thread_id=3862551&forum_id=2#35176386) |
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Date: January 17th, 2018 4:31 PM Author: Sienna parlor because you're thinking of this as an instrument of exchange as opposed to something more like a element within an investment portfolio. as time goes on, you can expect more of the latter to displace the priorities of the early adopters. how easy is it to convert something like a corporate bearer bond into something more tangible like food? it's a multi-step process where you have to convert the thing into an actual currency, etc. (http://www.autoadmit.com/thread.php?thread_id=3862551&forum_id=2#35177914) |
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Date: January 17th, 2018 5:11 PM Author: Mint garrison Well I’m thinking of it as both an instrument of exchange (the currency with which one pays for gas and acquires tokens) and as an investment meant to appreciate over time. My point is that even if the ethereum flourishes with lots of incredible applications, it hardly follows that ethereum will be a better part of my portfolio. IF the price of gas goes down, and people only need tokens to pay for specific application related services (so not using it as a store of.value), the price of eth is going to drop even as it grows in popularity. If it doesn’t more miners are going to enter the market and bid down the gas price until it does
In the short run though, expect miners to buy up lots of eth in anticipation of a proof of stake system |
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Date: January 17th, 2018 6:50 PM Author: Unhinged Magical Yarmulke ‘No barriers to entry...’
How is this true under either PoW or PoS? They both require substantial capital investments. |
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Date: January 17th, 2018 9:22 PM Author: plum demanding mood crackhouse .... (http://www.autoadmit.com/thread.php?thread_id=3862551&forum_id=2#35180004) |
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Date: January 18th, 2018 4:05 AM Author: Territorial Tattoo School So trheres no point to building on top of ETH if you’re making a token? (http://www.autoadmit.com/thread.php?thread_id=3862551&forum_id=2#35181616) |