Web 3.0 (Ethereum) is happening, and most people have no idea what it even is.

[John March]

True, but you can always take time to learn.

yes of course and if you want to learn the features of the cryptoassets, i suggest you to read "CRYPTOASSETS: the innovative investor's guide to bitcoin and beyond" , Chris Burniskske&Jack Tatar. Be careful, I never say that you should invest in it, i'm just saying that this book explains clearly what are crypto money (more globaly cryptoassets), what is blockchain technology, why and how it was created and how it works. I think it can help a lot of people (uninitiated but not only) to understand this universe and what it offers. After, everyone can make his own opinion but at least, everyone will know what he is talking about..
I know, read, read and read again???

 

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[TKDTyler]

ETH broke a pretty big support line this week... may retreat back to the 100's.

A while back I thought ETH would drop to around .051 in the crypto group.

Here is the chart for reference:

Unfortunately I moved away from trading crypto but it would have been a sweet margin short position I had from the Inverse H&S neckline.

VPVR has a strong support level @ .051 and I would expect a bounce at that point.

If BTC is still doing it's whole FUD, i'd expect it to bounce up then dip back down to touch that bottom trendline/bottom of the orderblock.

Also

If you look at BTC and ETH side by side, you can see that ETH lags behind BTC by about 2-3 weeks, but follows the major trends of BTC. I always took BTC as a leading indicator on ETH in terms of price action.

 

[StevieB]

People will make some money off these technologies, and a lot of people will lose a lot of money to. Seems the market has gone down 50% since it's peak. Feel sorry for those who heavily invested later on because they'd have lost a ton of money at this point.

The main reason it won't become more mainstream is because it doesn't solve any real problem for the large majority of the population. We already have ton's of different currencies, adding another one just doesn't fill any need. It may be useful in specific situations but it's certainly not going to replace cash or credit cards for the majority of transactions.

This is one of those "look at this awesome 3d TV it's going to change everything!" or "look at this VR headset everyone will have one" technologies. People already traditional currencies, so why do I need this one? What advantage does it give the average Joe who want's to buy a TV? None. Sure for some businesses who are savvy enough to leverage it's contracts might buy into it. But even companies that could use it, they'd have to have the know how and someone high up enough thats knows about it with enough desire to change.

There's tons of companies out there that could benefit from a lot of different types of technologies, but changing from traditional ways comes very slow and sometimes never if what they are currently doing is working well.

 

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[maverick]

People will make some money off these technologies, and a lot of people will lose a lot of money to. Seems the market has gone down 50% since it's peak. Feel sorry for those who heavily invested later on because they'd have lost a ton of money at this point.

The main reason it won't become more mainstream is because it doesn't solve any real problem for the large majority of the population. We already have ton's of different currencies, adding another one just doesn't fill any need. It may be useful in specific situations but it's certainly not going to replace cash or credit cards for the majority of transactions.

This is one of those "look at this awesome 3d TV it's going to change everything!" or "look at this VR headset everyone will have one" technologies. People already traditional currencies, so why do I need this one? What advantage does it give the average Joe who want's to buy a TV? None. Sure for some businesses who are savvy enough to leverage it's contracts might buy into it. But even companies that could use it, they'd have to have the know how and someone high up enough thats knows about it with enough desire to change.

There's tons of companies out there that could benefit from a lot of different types of technologies, but changing from traditional ways comes very slow and sometimes never if what they are currently doing is working well.

Generalizations are inherently stupid.

 

[Rivoli]

I really never believed in anything but Bitcoin. So many people swore to me that Lite and Eth where going to be huge and I just didn't buy it.. I'm really glad I didn't. I did buy a couple thousand in Bitcoin and still think it's gonna go up.

 

[AdrianB]

Is there someone who is mining at home? I've read that combining 6 video card into a system which costs around 3K usd, you will be able to mine ETH with a value around 600 usd per month. Is someone doing it? It is worth doing it?

 

[Edwin Fernandez]

Hey y'all, I saw this pertinent article about Radix, Radix and the Death of Blockchain – Hacker Noon
It's an alternative approach to decentralized systems, i.e. not blockchain.

Supposedly, they solved the transactions per second bottleneck that holds blockchain back from mass adoption. Some pretty heavy technical stuff but worth looking into.

One thing that struck me about these guys at Radix, there will be no ICO..
Radix Developer Portal

View: https://www.youtube.com/watch?v=sW8nWeUnkK0


You definitely might want to keep an eye on Radix, I know I'll be doing so.

 

[Rivoli]

That list is too long just the currencies listed in THIS thread - I skimmed through it - all these ZEC and coins are losers. They will be $0 in 3 years. That bet I will put up funds for.

How did you predict this? Are you trolling or do you actually not know details about crypto? That this post was on Jan 17 is pretty interesting

 

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[csalvato]

How did you predict this? Are you trolling or do you actually not know details about crypto? That this post was on Jan 17 is pretty interesting

He just wasn't blind by the hype.

Those tokens/coins never had any intrinsic value.

 

[Timmy C]

Wow, I can't believe there are so many afraid kittens in this forum. How you are going through the fastlane if you are so afraid and simply too stupid to see the value to focus and learn about the technology? (Dedicated for those who thinks its scam)

1000 posts and most of them are saying that it's scam or it is too hard for them to understand the thing. How the heck you will understand it if you are like an usual user - you want a simple explanation and still if you don't understand it - you think its a scam. Lol. The same thing happens about complex inventions, some people think it came from aliens!
If you don't understand things you better don't tell your opinion or go and study it until you will fully understand it.

Cryptocurrencies will not go anywhere. Bitcoin may pop, other coins may too, but the crypto technology will remain and will make huge impact in our future. If you have learned how it works and if you understand what we can do with it, what banks, governments and big corps are already doing with it, you will definitely understand that it's unavoidable and big part of our future.

You say that it's worthless? What about the papers like dollars? Is it worth it something? Yes until it's used. It's the same about blockchain, but since we are coming to VR age and we already are using sh*tloads of digital payment systems, cryptocoins will help us a lot and that's why most of them will remain having the value.

People are too stupid to understand that's why there are still so many ups and downs in crypto market. I highly believe coin market will grow a lot in future as so as the amount of different cryptocoins. It's already very easy to create one! I don't know C++ coding at all, but I can create you a coin in 5 minutes. Imagine what we can expect in future.

So in sum

If you want to make money from tech, learn about it.

Never tell your negative opinion if you dont know about things - this can make people think negative about the thing too.

If you are interested to make money from a new technology, take time to understand it and if you will not understand it - entire technology thing is not for you. Go back to sales business.

Some coins may go down some may go up. There are a lot of factors, but in any case blockchain tech will remain and you will be always available to create a new one.

If coin is rapidly growing it doesnt mean you should buy it to get in the train. You can only invest the money you can loose. Even big and most trusted companies fails and share holders loose money. this is a new technology, its a currency, it's decentrelized and it can be created by anyone. So make deep research before investing in it and if you are too weak to do this, please don't tell everyone else that it's a scam.

By the way, don't forget that every new thing that smart ppl snd bizs have profited from wasn't easy to understand and didn't look trustful for many. Look at you now, you are late to those trains, but blockchain train is still happening.

Good luck, be smart about it!

Rep ++!+!!;!!;;++++

 

[OnePercentBetter]

Do you feel there is value in YouTube channels uploading their videos to DTube as of now?

 

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[AidenRafi]

Isn't TRON pretty much a scam?

Justin Sun is a shyster, IMO, and I wouldn't trust him or the project with someone else's money, let alone my own money and time.

ETH has staying power, and is powering the most massively impactful advancements in the crypto space (like Uniswap). ETH is about to break out again once DeFi really takes off, and you can trade and swap tokens without any KYC, government oversight or centralized entities (like Coinbase).

All of that is going to be powered by ETH, probably on Uniswap.

IMO TRON is garbage compared to ETH. Just one man's opinion

Can you school me a bit more on DeFI?

I understand its a lending and interest earning platform (built on Etherium) for users who don't want to go through the traditional route.

It is also based around privacy and trust.

Any other important details?

 

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[AidenRafi]

DeFi isn't a single platform but a concept. It stands for `Decentralized Finance`.

Bitcoin basically made it possible to make transactions of any size for a relatively small fee, without including any centralized bank. The benefit here is that:

1. You are saving human labor, since you don't need to pay banks to verify transactions anymore.
2. You don't need to trust banks with your money because, historically, banks haven't been super trustworthy (think back to 2007-2008)

While Bitcoin is great and will always have a place (IMO, will always be the most dominant cryptocurrency), the problem with Bitcoin is that it's on an island.

It doesn't talk to anything.

All you can do is send Bitcoin from one address to another. You can't, for example, run a mortgage on Bitcoin because the technology doesn't support it. If you wanted to lend Bitcoin on a mortgage, you need a centralized entity to make that possible. So the original problem of removing "trusted" centralized entities hasn't been removed.

Ethereum made it possible to have transactions on the blockchain that are more intelligent using "smart contracts".

Here's a contrived example of a smart contract: with Ethereum, you can write a smart contract that you need to pay 1 ETH into a wallet and, when you hit 10 ETH, you will get a transfer of 10 ETH from the wallet you were paying into + 1 ETH from a separate wallet that is paying you a loyalty bonus.

So Ethereum made it possible to have complicated transactions that are totally automated, and wouldn't even need any financial institution involved. Great!

The problem, though, is that Ethereum also lives on an island. These smart contracts can only happen with ETH. In 2017, this was all the rage and everyone was making tons of smart contract based projects (that mostly amounted to nothing, with the exception of Crypto Kitties).

But between 2017 and now, people have been working very hard on allowing for more complicated transactions powered by ETH smart contracts. Here are some of the exciting things currently going on:

1. LINK and BAND are two projects that allow for ETH to communicate with data off-the chain, and integrate it into on-chain contracts. They basically take ETH smart contracts off of an island. LINK, for example, is already working with the Korean banking system to power financial services like mortgages. It manages all the transactions on-chain, and syncs up the data off-chain with the Korean banking system...all automatically.
2. Uniswap and SushiSwap (a Uniswap ripoff) have created a way to exchange any two ETH-based crypto assets instantly, for a very small fee, without using any centralized exchange. It relies on people putting their tokens in a liquidity pool. For example, let's say I wanted to trade USDT for ETH, I can use Uniswap to put ETH into the USDT/ETH liquidity pool, and take USDT out (or vice versa). You can also put a matching amount of ETH + USDT into the liquidity pool and earn a percentage of the fees collected. This is how the pool maintains a high liquidity.

There's a lot going on in DeFi right now, and every big entity (like Binance, Coinbase, TRON) are trying to make sure they can associate with it.

The DeFi movement basically means that one day soon, you can get paid in USD, get USDT, and anonymously trade that for any other ETH-based token (including renBTC, ETH, LINK, etc.) and make profits without a single centralized entity or government.

If you have even a slight understanding of the global economic system, that's absolutely earth shattering.

That was a great explanation, thank you.

Quick clarification.

The value I am getting by adding liquid to the pool is interest, as it is a loan system, correct?

Another value I am getting is the ability to swap my coin for another coin.

Are these the main two value propositions for adding funds to the pool?

 

[karakoram]

I found Monero and Ripple to be better for moving money around. Lower fees and far faster confirmation than ETH, BTC, or LTC

 

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[AidenRafi]

Let's say you have 0.2% of the liquidity in a liquidity pool on Uniswap. If there are $1,000,000 in fees collected on a given day, you've made $2000 just for staking your tokens.

Wow!

Very cool.

 

[LifeTransformer]

Avoid Tron like COVID, that’s coming from a former fan of it.

See what they did to Steemit.com as evidence of why you definitely do not want anything to do with Justin Sun, I’m pretty sure it’s just a pipe dream/false project at this point

 

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[Mark_Entr]

Blockchain technology has been around since 2009. When most people think about blockchains, they think about bitcoin, a slow, expensive antiquated technology that is hard to scale, and is not innovating. Every now and again you will hear about bitcoin reaching new all time highs, yet nothing has really changed with the technology in years.

Then there are alt coins. Coins things like litecoin or dogecoin that are basically carbon copies of bitcoin, and coins like monero that are similar to bitcoin, but have a few extra bells and whistles.

There is one platform however that you will be hearing a lot more about in the future that is really going to change the way we do things. If you haven't heard about ethereum already, luckily you are hearing about it now. Ethereum is a programmable blockchain, and this makes it a very robust platform. Due to the blockchains ledger system, and ethereums programability, smart contracts are able to be created, along with a ton of other cool things.

What does this all mean? Trustless systems can be created that completely cut out middle men. Micropayments. Royalties paid for time listened to music or watching a video, etc etc.

There are thousands of developers in this space, and lots of big household business names are trying to implement the ethereum blockchain into their business. So what exactly is there for you to gain? Well you can become an investor or better yet, you can create distributed applications in this space, and reap the benefits that come along with it. I have made a lot of money in this space, and I believe it is going to continue to grow.

Are there any novel applications that are truly only enabled or substantially improved by blockchain ? ( the examples you mentioned like paying royalties for video or music are already being done by youtube & spotify, micropayments is already achieved by many companies, so what does blockchain really offer ? )

 

[MarkSabier89]

Thank you for throwing a great idea, I will definitely study this topic, I just think about where to invest my money, but I definitely do not want to invest in bitcoins

 

[Martin Boeddeker]

Some interesting thoughts from someone I respect:

View: https://youtu.be/JwSh8jQziiE

That being said: I don't know anything about bit coin technology and I'm not invested.

 

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[young rebel]

Do you guys think NFT is going to affect the price of ethrium.since most of them are ethirium based

 

[maverick]

Not hit the peak of the bull run yet judging by the comments here

 

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[MTF]

so let's say I create a decentralised app, what am I to gain as the entrepreneur?

A percentage of tokens is usually reserved for the creators. So even if you offer publicly 90% of it and leave yourself only 10%, if the project is successful you'll be a multi-millionaire or a billionaire. Example: Vitalik Buterin.

 

[ruzara5]

Another key component is decentralized availability. We do not need a gigantic monster of vulture cartel capital desecrating on a universe they cannot control anyway. But that would be regressive for some. Being able to have that key of decentralization and seamlessness with the power of ownership is key.

 

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[JayTGold]

Lol, I was just thinking about this thread the other day and that it was what turned on to the existence of ETH. I didnt pay enough attention back then though unfortunately

 

[Red.P-901]

and coins like monero that are similar to bitcoin, but have a few extra bells and whistles

Monero is great for making privacy respecting purchases and is mostly used as currency (unlike bitcoin which is used as an investment).

 

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[Practic]

Take into account that some researchers claim that they can broke encryption methods.
Chinese researchers claim to have broken RSA with a quantum computer. Experts aren’t so sure.
Quantum computers can break major encryption method, researchers claim
Subscribe to read | Financial Times

This puts the whole crypto industry vulnerable as well as security of information on internet and our accounts in online financial institutions.