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24481997 No.24481997 [Reply] [Original] [archived.moe]

How is ETH still sitting around $600? BTC is testing it's ATH everyday, meanwhile the very token which 80% of crypto is built off of is still 60% down from it's ATH

>> No.24482013

because only bitcoin matters

>> No.24482164

>>24481997
The rise will be glorious. Our time will come fellow mETHheads

>> No.24482192

Alts haven't caught up. When they do it will be glorious.

>> No.24482203

>>24481997
Look at 2017. our time will come soon

>> No.24482332

>>24481997
Because bitcoin is very bipolar right now. If it can start to crab for a few days then eth will pump to 700 no problem.

>> No.24482924

>>24481997
99% of shiterium tokens are scams and frauds. I'm surprised this shitcoin is still $500. Can't wait to dumb my last few eth.

>> No.24483184

>>24482924
What are you waiting for? If its a shitcoin scam then dump it faggot

>> No.24483208

>>24482924
Nice fud retard just sell it now before we hit 0

>> No.24483268

>>24482924
>99% of internet data is useless, internet shouldn't be used
But yes, ironically and unironically, ETH is digital oil world computer spaghetti code going to be #1 crypto and also a total shitcoin.

>> No.24483487

>>24483184
Why would you sell before the top YOU FUCKING RETARD

>> No.24483562

>>24482924

>FUDing eth

>> No.24483570

>>24483487
So you bought at the 2018 top? These bags of yours must be heavy, then.

>> No.24483595

>>24482924
A total of 340,621 ERC20 tokens have been created on Ethereum
Less than 500 of these projects even qualify as being "legitimate" projects
That means at minimum only 0.014% of the projects launched on ETH are not scams.
The Ethereum ecosystem is 98.6% scams and spam.

It's literally worthless scamware

>> No.24483830

>>24483595
how many websites are there on the internet? how many are useful websites? also, did you graduate high school?

>> No.24483867

>>24483830
COPE
99% OF WEBSITES ARE NOT SCAMS YOU FUCKING RETARD.

99% OF PROJECTS ON ETH ARE SCAMS
AND THATS A FACT

>> No.24483906
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24483906

>>24483867
>>24483595

>> No.24483955

>>24483830
even if web3 and smartcontracts actually mattered to the average person in the real world (not just broke bagholding ethtards praying that it will make them rich) can you explain to a retard like me how that is supposed to be bullish for price action? You don't need to buy eth to build on top of it, or am I missing something?

>> No.24483968

>>24483595
>>24483867
The stupidest man on biz

>> No.24483972

>>24483867
99% of investment advice here is useless or scammy but you still come here fag.

>> No.24483991

>>24483595
99% of computer programs are useless shit. Therefore, computers are worthless.

>> No.24484013

LOL the ethtard cope itt

>> No.24484095

>>24483955
You do. I think this article makes the best case:
https://thedefiant.substack.com/p/ether-is-the-best-model-for-money

>> No.24484320

>>24483955
eth is basically the commonly accepted currency on the network. every dapp accepts it

>> No.24484329

>>24483184
Only have a few left, will dump near next ATH. Had over 300 last bullrun, made good money can't complain. Time to move on from this cancer.
>>24483595
Based and shiteriumpilled.

>> No.24484408

People don't understand it. Sounds like an arrogant, cringy defense but it's true, the average person just don't get what ethereum is or why it's so important in the crypto world. Bitcoin is simple, it's just a token you can transfer or store like money, and that's it. Easy to market to boomers and zoomers alike. It's much harder to envision a decentralized computer with a functionality scope a thousand times wider than bitcoin.

>> No.24484466

>>24483955
right now ETH is accumulating the most amount of fees of any blockchain, including BTC. in fact, it's cucking BTC. as development continues on top of ETH, there will always be a need for ETH for fees. fees are just one use case. it's also a gateway to DeFi, altcoins, etc. additionally, when ETH moves to PoS and eventually EIP1559, ETH will become capped and then deflationary, so more scarce. in other words, it's going to be valuable as fuck to own.

>> No.24485069

>>24484408
I'm just as pro-BTC and anti-ETH as you, but anons need to realize that ETH's greatest power (it's pretty much a decentralized Turin-complete VM) is also its greatest weakness. The concept of smart contracts as a way to code decentralized applications is revolutionary, but the problem is that even the best software developer will at some point write exploitable code. Pretty much every week you can read about some elaborate exploit stealing hundreds of thousands or even millions worth of crypto from some dapp. And there's just no way to reverse the transaction. Once it's gone, it's gone.

>> No.24485252

>>24485069
Good dapps like Uniswap and Curve have never been hacked though, so writing good code is definitely possible.

>> No.24485434

>>24485069
tons of devs take the easy road and get fucked. software needs to be audited, then audited again, then have testnets and then finally launched. even still there might be bugs. bugs still are caught even on iPhones and in Windows. but devs pushing out good software following good protocol rarely have large issues

>> No.24485534

>>24484095
interesting, thanks for that
>>24484466
yea I can see how staking and eip-1559 are bullish
I sold before it broke dwon on the ratio but might re-buy incase you nerds are right.

>> No.24485543

>>24481997
Everyone's heard of bitcoin. And that's all they know. Normies are perpetual suckers and it will take them at least another decade to notice the financial system being built on ethereum.

>> No.24485590

>>24485252
I think the way forward is to find a generally accepted way so that the average software developer can produce secure smart contracts. Maybe by using a subset of the language or by using some rigid framework or whatever. "Good" dapps can often be exploited as well. Just look at the OUSD exploit for example. The code was exploited not because of a sloppy developer, but because someone found a very specific flaw in the code and exploited it.

Can you say with absolute certainty that Uniswap and Curve won't be hacked in the future? I can't and neither can you. The code being open source doesn't mean shit at all. We need a mechanism which allows us to easily verify that the code is indeed not exploitable.

>> No.24485750

>>24485590
It actually was because the dev was sloppy. The contract was designed to accept only a handful of stablecoins. It did not check if the coin being deposited was one of those handful of stablecoins. this is an obvious mistake.

no one can say with absolute certainity that the crypto behind bitcoin and ethereum is mathematically sound. There is no mathematical proof that the discrete log problem is hard to solve. there could be a way to easily calculate private keys from public keys that we don't know about. however, anyone who can do this can take billions of dollars and become famous. same with uniswap and curve, which have a billion in liquidity. a billion dollar reward is enough for any hacker to try to hack it.

>> No.24485754

>>24485434
Billions have been poured into making iPhones secure, yet people have found a way to jailbreak all the phones up to the iPhone X, effectively rendering the whole security of iPhones worthless. It's not a big issue though; Apple's not going to lose a lot of revenue just because of a iPhone jailbreak. A bug in a large dapp can wipe out a whole business. Audits and excessive testing don't cut it either. We need a way to 100% make sure that code is not exploitable and as long as we're basically coding distributed Turing-machines that's not possible.

>> No.24485907

>>24485750
I'm quite certain that nobody will come with an efficient algorithm to the prime factorization problem in the foreseeable future. I'm not sure about Uniswap and Curve not being hacked within the next couple of months though. Maybe the code is really obviously secure, idk I have to admit that I haven't really looked into any of them. I'm just saying that with any non-trivial piece of software there's always the chance that it's exploitable and 99.9% of developers are not going to catch that bug.

>> No.24485989

>>24485907
the space is only 5 years old and most devs right now only hvae 1 or 2 years of experience.
it'll get much better. in 20 years eth devs will be competent enough to make unhackable software.

>> No.24485995

>>24485754
Jailbreaking is something completely different. It's basically people taking proprietary software and essentially making it open source. Not stealing money. There has not been a large scale hack of people funds from info leaked out of iPhones that I'm aware of. There's no way to be 100% of code with anything, blockchain or otherwise-- the only way to move forward is to audit, test and bug bounty ad nauseum.

>> No.24486121

>>24483867

You're prob seeing way more scamcoins then most people cause you're on biz. When institutional investors talk about erc-20's they don't mean indianpoopcoin

>> No.24486164

>>24485989
Stack buffer overflow exploits are something every C developer knows about. Yet, people find these kinds of exploits on a daily basis, even in code written by seasoned developers and in critical software such as the Linux kernel. As long as you have a powerful (i. e. Turing complete) programming language, people will write vulnerable code.

>>24485995
>Jailbreaking is something completely different. It's basically people taking proprietary software and essentially making it open source.
That's not what jailbreaking is at all. Jailbreaking is breaking the fundamental security mechanism of the device.

>> No.24486278

>>24486164
>That's not what jailbreaking is at all. Jailbreaking is breaking the fundamental security mechanism of the device.
yes, agreed. that's better stated

>> No.24486314

>>24481997
oversold, will be $800 by end of year

>> No.24486434
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24486434

>>24483595
>>24483867
>t.

>> No.24486438

>>24485995
>There's no way to be 100% of code with anything, blockchain or otherwise-- the only way to move forward is to audit, test and bug bounty ad nauseum.
I think the Bitcoin blockchain is a good example of a technology which is secure enough that you can be almost 100% sure that it can't be exploited. The only way to exploit it is to solve a cryptographic problem which mathematicians around the world have tried to solve for decades.

I think ideally we would have a VM on a blockchain which is not quite as powerful as the EVM, where programs can easily be verified to not contain vulnerabilities, but still be flexible enough to allow people to develop dapps. That's probably not possible though.

>>
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