Cryptocurrency |OT| Nothing from Money

Anyone have any good arguments for or against XRP?
My take on XRP:

For: it has a clear use case (fast, cheap, easy international money transfers); its price is intended to be somewhat stable (so good for banks)

Against: its price is supposed to be stable so huge returns based on fundamentals seem unlikely; Ethereum can be used for the same use case; the Ripple team hold a lot of XRP in reserve

So while I think Ripple is actually pretty great, I am not investing in it because I don't see the potential for returns the way I do in other cryptocurrencies.
 
Anyone have any good arguments for or against XRP?
On the plus side: I think its quite stable.

On the minus side: There are too many coins. I guess it wont be 10x its current worth anytime soon.

I might be wrong though ;)
Maybe its the global currency of the future...
 
just looking at some of the progress on some of these coins, knowing if i had a few thousand to invest, i would have been sitting on much more dough.

really sucks
 
how high can the BTC exchange go? It can't go to 1, right?
The math says that at 0.17, the market cap will flip from ETH to Bitcoin. That's 550ish. An unfathomable number back in March but it might hit that by mid July.

Getting to 1=1 would take a while but a lot of peole are saying $1000 which would mean 1=.33 is reasonable.
 
just looking at some of the progress on some of these coins, knowing if i had a few thousand to invest, i would have been sitting on much more dough.

really sucks
Don't think that way. Even putting in $100 right now into BTC and ETH could make you a lot of money in a few years.

ETH rising too fast. Correcting down to $300 by the end of the week regardless of additional rises would not be a surprise.
I have $100 in ETH right now but was waiting for a correction to buy up to 1 full ETH. Any word about it falling lower later in the summer or is it all just unknown as usual with this stuff?
 
Don't think that way. Even putting in $100 right now into BTC and ETH could make you a lot of money in a few years.



I have $100 in ETH right now but was waiting for a correction to buy up to 1 full ETH. Any word about it falling lower later in the summer or is it all just unknown as usual with this stuff?
Personally I'd just buy one up if it drops to $300. I think this train isn't done yet and it's going on and on with no stopping. There's the conference next week which could put us in the $450 range.
 
Is anyone familiar with the ethereum wallet (the one that used to be called mist?)? Do i need to upgrade my account to a wallet in order to receive non ethereum tokens like Bancor?
 
I wonder if Digibyte might be a better investment than Siacoin. And where could it be in 5 years?
Eth has proven its corporate support; it has value added use cases. Siacoin is also based on a proven value added use case, albeit one substantially more focused than Eth [I am actually looking into using their platform for use in a production website.] I don't know why Digibyte would take off though. Even Eth didn't take off until weeks after the corporations started moving in.

So far Bitcoin's inherent use case has been hassle free exchange of money, and that is where it's value comes from; however, so many people still think Bitcoin is only used for illegal trading on the dark web; that, plus it's volatility, has stopped BTC from becoming any larger. Yet $50 billion market cap for a currency that can be securely traded world wide is really nothing, and Eth can actually do more than that. The Ethereum ship to the millionaire's club possibly sailed some weeks ago, but if one holds, their assets will possibly be multiplied. I think Eth's market cap is much smaller than it's potential.

Without having inherent value, the real market cap of a crypto-currency will not rise unless some people lose money as the community exchanges the currency. I wouldn't invest in any of them unless you have some background in technical trading.

Anyway, I converted all my alt coins to Eth. The only other alt coin [eth might not be an 'alt' coin by then though... cough] I'll probably buy is Tezos. I'm waiting for their ICO, apparently happening this month, if not delayed again. Well, I have $30 worth of LKK too lol

edit: an interesting read on tezos ICO:
https://venturebeat.com/2017/05/21/4-reasons-why-tezos-could-be-the-netscape-of-the-blockchain/
 
When does the difficulty for ETH mining become too much? At the rate it's growing now, in a month would it be worth it to mine ETH any longer? How did this work with Bitcoin?
 
For those feeling like they missed the train on Ethereum: you may have missed getting 3400% returns (going from $10 to the new high of $350), but it hasn't stopped yet. The platform has incredible potential and with more of the mainstream hearing about it, adoption will follow. For those interested, the white paper detailing all of the technical details is located here for the public.

Following Ethereum, I was curious on others' thoughts on IOTA and its upcoming entrance to the exchanges. IOTA looks just as promising and revolutionary and given time, may be the next big hit in the future. I'll definitely be holding onto them for the long term.
 
For those feeling like they missed the train on Ethereum: you may have missed getting 3400% returns (going from $10 to the new high of $350), but it hasn't stopped yet. The platform has incredible potential and with more of the mainstream hearing about it, adoption will follow. For those interested, the white paper detailing all of the technical details is located here for the public.

Following Ethereum, I was curious on others' thoughts on IOTA and its upcoming entrance to the exchanges. IOTA looks just as promising and revolutionary and given time, may be the next big hit in the future. I'll definitely be holding onto them for the long term.
I guess it's quite possible that in 5 years or less it could be worth over $5000 maybe
 
For those feeling like they missed the train on Ethereum: you may have missed getting 3400% returns (going from $10 to the new high of $350), but it hasn't stopped yet. The platform has incredible potential and with more of the mainstream hearing about it, adoption will follow. For those interested, the white paper detailing all of the technical details is located here for the public.
Indeed. %3400 return might seem much, but return on BTC has been what, %35000 since its inception in 2010?

Following Ethereum, I was curious on others' thoughts on IOTA and its upcoming entrance to the exchanges. IOTA looks just as promising and revolutionary and given time, may be the next big hit in the future. I'll definitely be holding onto them for the long term.
Seems interesting. They will be available on bitfinex June 13 for exchange. Will possibly participate, thanks for the tip! (it is just that their reference implementation is in Java and Java sucks... otherwise seems to be technically interesting; from my understanding it is basically a zero-gas block chain?)
 
For those feeling like they missed the train on Ethereum: you may have missed getting 3400% returns (going from $10 to the new high of $350), but it hasn't stopped yet. The platform has incredible potential and with more of the mainstream hearing about it, adoption will follow. For those interested, the white paper detailing all of the technical details is located here for the public.

Following Ethereum, I was curious on others' thoughts on IOTA and its upcoming entrance to the exchanges. IOTA looks just as promising and revolutionary and given time, may be the next big hit in the future. I'll definitely be holding onto them for the long term.
Yes, I agree. Over the next few years, my thinking is another 10-20x gains on ETH are possible if they deliver on everything that has been promised. Mainly Raiden for fast transactions, Proof of Stake implementation, and sharding (so the network continues to scale well). It will probably continue to rise faster than Bitcoin did, because there's much more awareness in this space now.

I have a lot of faith in the developers, especially after watching some interviews with Vitalik.

No doubt there is a lot of risk if they don't deliver though. I feel much better about the odds with ETH than I do with Bitcoin though. All the industry support it's gotten lately helps too.
 
I transferred $5k to my account a few days ago hoping to buy more ETH when/if it dipped back down to the 230-220 range but that never happened lol...

If it corrects back down to 300 I might just go all in and hold for the long term.
 
I should have put more into ETH. I think I might just put $1k and see where it goes.

It's following the bubble curve well...but if I learned anything from Bitcoin that's not a problem if you hold..

I put $200 into ETH when it was $80 or so...that's now worth $771.
 
I use Ethermine pools currently.

https://ethermine.org

Use the connect option information below.

But basically what you have to do is get a miner like Claymore's Dual Miner (You probably saw this inside NiceHash). I personally think it's the best for ETH, at least for AMD cards. But inside you edit the start.bat file with the connect info of the link I gave you.

Run the bat and it should run just like you saw in Nicehash. You can track your progress with
https://ethermine.org/miners/YOURADDRESS replacing YOURADDRESS with your public wallet code for your ETH wallet (The code you put into the bat determining where you are mining to).

I'm more than happy to run you through setup if you want to PM me. Or you can look up a YouTube video which you can probably walk through step by step pretty easy.
I'm doing this, but in the claymore Readme it says "Pools that require "Login.Worker" instead of wallet address are not supported directly currently, but you can use "-allpools 1" option to mine there." However, in the instructions on ethermine it says to enter your wallet info as "login.worker" so what gives? I'm also seeing this error when I fire up my start.bat http://imgur.com/a/CY8lT
 
Yeah so with 2x 1070 rig and a 1060 laptop I'm pulling like $15/day!

Shit is gonna be paying the rent soon shit.

I honestly think the way to go is like a 4x 1060 3gb rig.

Considering building one. Would do about 80-100mh/s on the cheap. Doing that now on 2 machines with a much higher up front cost (although they are not dedicated mining rigs and serve other purposes).
 
Are we at the point where ether isnt even going to correct to to point of just buy now and fuck waiting for a correction?

Seriously just considering dumping everything I realistically can into it.

I put in a bunch at $270 and I thought that was high but look it it now. I think we may be approaching the point of no return.
 
Ether is a runaway bull.

Full disclosure, I have been in on it since $20.

Like I said in an earlier post, if you're waiting for a correction, don't expect a large one and don't expect the dip to last long.

I've seen Ether hit $40, $80, $95, $180, $200, $300 and what it does is that each time there's a dip, it's a minor one and then it consolidates at a price level that is lower than the current all time high but still higher than the previous all time high. And often times, the discount isn't even that great to begin with. The last major dip was from $220 down to $120. It hit $220, consolidated for a while at $200, then fell to $150 and went as low as $120 for like an hour before recovering.

It's also seems to be an inevitability across the crypto space that most people think it will pass Bitcoin in market cap.

For that to happen, the price of Ether needs to rise to $530 or the price of Bitcoin needs to fall to $1980. I don't see the latter happening so at the very least, I think sub $400 ether prices is actually still a bargain.
 
Only possible catalyst for a dip right now I see is the Bitcoin user activated soft fork, which starts August 1. Unsure what will happen. It wont activate immediately so possibly nothing will at first

If there is a huge BTC crash it could rattle people enough to pull all their money out of all crypto, which may temporarily cause a drop in the ETHUSD price as well. I have some money sitting on the sidelines that I'll put in if this happens. ETH has become increasingly less impacted by BTC moves so possibly nothing would happen, but who knows.

edit: and just to note I already made buys at $10, $70 and $130. I don't think I would chance waiting for a dip if I didn't already have a position. Could well go into the $400s and only dip to a price that is higher than now... hard to say.
 
First congrat for your profitable investment.

What would that mean for ETH to pass Bitcoin in market cap ? Sorry, i don't know much about those issues.
Market cap is just a total value of all the coins in circulation.

Price of 1 Coin x Number of Coins in circulation.

So you could have XCoin that has 10 coins in circulation at $5 per coin and Y Coin that has 5 coins in circulation at $10 per coin and they'd both be considered equal in terms of market cap (both are $50).

With respect to Ethereum and Bitcoin the numbers are - last I checked:

Bitcoin: $3000 per coin, 16 million bitcoins in circulation - $48 USD billion market cap.

Ethereum: $360 per ether, 92 million ether in circulation - $32 billion in market cap.

The reason why it's significant in this specific case is that people believe that Ether will overtake Bitcoin in terms of market cap. This means one of the variables has to change. Either the price of Bitcoin has to take a big dip which means it's overvalued or the price of Ether has to rise significantly which means it's undervalued.

If you believe Bitcoin will fall and Ethereum will rise and meet in the middle, the conservative target for Ether's price is about $440/ether. If it's currently trading at $360, that's about a 20% discount on the most conservative estimate of what it should be worth. If Bitcoin is going to stay at it's current price, Ether needs to be at $525 to equal it in market cap. This means at $360, you're getting a 31% discount on the future price of Ether.

The most likely scenario however is that Bitcoin continues to rise until August 1st but Ether outpaces its growth. This means that realistically, we could be seeing $600-700 Ether by the end of the summer.