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/biz/ - Business & Finance

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2558323 No.2558323 [Reply] [Original]

Ethereum is so fucked. It's inevitable at this point. How do we profit?

>> No.2558392

>>2558323

Question really is. How can we trust a coin that has gotten hacked (dao) and now has caused people to lose millions due to one dump?

While innocent little BTC got fcked, not due to it's own doing, but due to a Jew exchange.

Tell me. What will happen to ETH?

>> No.2558402

sell and hop on the litecoin rocketship to the moon that is about to happen

>> No.2558412

>>2558323
I regret not selling at 420, got greedy.

Seriously bros, how is Ether meant to solve the scalability issue? It doesn't even have fucking public dapps on the blockchain yet, and FUCKING MIST DOESN'T WORK, it takes forever to sync. This thing, as of right now ,is garbage and is fundamentally the same coin it was when it was trading for $11 when I first bought in back in February.

>> No.2558442
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2558442

>mfw thinking heavily about dumping my ETH into something stable like XRP

>> No.2558461
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2558461

>>2558412
Hmmmm

Its almost as if ethereum still is being developed....hmmmmm i wonder....

>> No.2558472

>>2558442
It is hard to say what is stable at this point. Maybe just USD

>> No.2558474

>>2558323
Litecoin seems like it has more potential.

>> No.2558485

>>2558323
put your money where your mouth is and margin short eth OP

>> No.2558486

>>2558392
They lost millions because of their own retardation. Don't fucking use stop loss and margin trading. This isn't forex.

>> No.2558490

>>2558472
True.

>> No.2558497

>>2558461
Yeah, of course it is. But the price is built on hype, let's be real. The only difference between $11 ETH and $400 ETH is hype. There have been no major technical breakthroughs. In fact, we've regressed, because not even the fucking native wallet client, MIST, works now.

>> No.2558510
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2558510

Unload half to some more promising coins.

Wise words.

>> No.2558537

>>2558442
I am was holding yesterday a worth around 200k in that nothing-for-the-future btc (apart from being expensive but thats it) and now I buy with it all dem cheap eth. I expect it to moon between august and september, not due to bitcoin´s depressive wave with all that segwit2x or that shit. Guess what it is.

>> No.2558543

>>2558510
Exactly what I did. Just sold half my Ether stack, just in case ETH has some miraculous recovery, but I'm losing confidence, desu.

Currently sitting on:
-168 ETH
-1078 LTC

>> No.2558546

>>2558392

Caused people to lose millions? You mean like how McDonalds caused people to be fat? Get the fuck out of here.... everyone who lost a huge amount of money with eth today only has themselves to blame.

>> No.2558594

>>2558392
You're mistaken and don't understand the technology

Ethereum was not hacked. The DAO smart contract, which is completely unrelated to Ethereum itself but is simply a smart contract that was deployed on the Ethereum network, had a bug in it that a hacker exploited. Not Ethereum itself. The smart contract.

>> No.2558612

ETH IS A MESS

>> No.2558618

>>2558594
That is the truth but so many people think "ETH got hacked." I wish it was easier to explain to the idiots.

>> No.2558621

lol I wonder how many threads like this were made about BTC in the last 8 years, see its value now. I'm holding, every new ICO depends on ETH, so either we crash and burn or go to Jupiter. Remember, this is still in development. You think Facebook mooned in a couple months?

>> No.2558648

>>2558594
>smart contract unrelated to Ethereum

Are you fucking stupid? The whole reason Ethereum exists is to utilize smart contract functionality through the use of Solidity and related compilers. The DAO was built natively in the Ethereum virtual machine, using Ethereum protocol, and Ethereum programming languages. Of course it's related to Ethereum you imbecile, it IS Ethereum!

>> No.2558655

>>2558594
>>2558618

doesn't it indicate something when the foundation itself can't even put together a secure contract on the ethereum network? it seems to me right now that turing-completeness is a bigger headache than it's worth, considering all that they have been able to write thus far are erc20's

>> No.2558670

>>2558543

pls brother help me out with some fractions of an ETH

0xc67c9eb82c90bf08f8f554fb4a17907553bf2581

thanks

>> No.2558682

>>2558594
Why then they forked ethereum, not the dao? For the lulz?

>> No.2558686

Just got started. Would this be a good time to buy ETH? Or just stick with BTC?

>> No.2558697

>>2558648
No, you don't understand. The DAO was a smart contract deployed on ETH, and this smart contract itself had a bug in it

What you're saying is basically "Someone wrote a program in C++ and the program had a bug, therefore C++ is broken!"

Nothing was wrong with Ethereum itself, just the DAO smart contract

>> No.2558720

>>2558686
I went all in ETH yesterday because I have high hopes between aug. to sep. for ethereum. You say where you are, I want so see what happens to the other side, would be boring if everyone was on one side winning or losing.

>> No.2558725

>>2558682

DAO can't be forked when it's a smart contract. Doesn't work that way.

My point in saying that ETH was hacked, was to say that's what people are thinking when trading.

There has been to much bad rep put onto ETH.

>> No.2558731

>>2558655
It does indicate something but I don't know if I'd go that far. But it doesn't indicate Ethereum itself is broken as other anon said.

>>2558682
You can't fork a smart contract that doesn't even make sense. I personally don't know whether they made the right choice. Idealistically I say the made the wrong one, but realistically this could have crippled Ethereum early on. It's a bad situation overall but it doesn't indicate anything bad about Ethereum itself

>> No.2558916

>>2558731
I don't think they're undertsnading the simple fact that ethereum is a PLATFORM and it is only due to the human eroor that constructed the smart contract as such that the security of the contarct could be under mined by neferious figures .

>> No.2558955

>>2558916
It's understandable and you can't really fault them for not completely understanding it

Full comprehension of Ethereum basically requires a Bachelor's in CS at the very least, or a lot of self studying.

>> No.2558997

>>2558916
see >>2558655

maybe the platform itself is a problem

maybe it's better to have tighter blockchain protocols for security and then figure out how to allow the individual blockchains to interoperate

>> No.2559005

I think I saw somewhere that the ETH came from the Genesis block(idk what word to use). Isn't that founders only? So doesn't that mean that Vitalik or one of his co-founders took advantage of everybody?

>> No.2559041

>>2558720
then why would you buy yesterday? its going to dip even more, that is 100% sure

>> No.2559072

>>2559005
How do you even drive the price down to .10? Did the genesis guy enter .10 and sell at that price?

>> No.2559073

>>2559041
We will c about dat

>> No.2559082

>>2558392
>caused people to lose millions
Actually people as a whole lost ZERO dollars.

>> No.2559116

>>2559005

it's very clear you have absolutely no idea what you're talking about and you're just repeating false information you read on 4chan as if it's reality. i hope to god you are not making actual financial decisions based on fud and trollposts on this website

do you honestly think vitalik and a co-founder would be so fucking stupid as to sell off a pile of eth that big all the way down to $10? as much money as they made, they could have made WAY, WAY, WAY fucking more. there are literally thousands of transactions on the genesis block

furthermore, did you see how quickly eth bounced back after that massive sell off all the way down to $10 you stupid fucking faggot?

do you know whta that means?

it means there's a lineup around the block, circling a thousand times over, of people tryying to buy eth. eth's price dropped today because of BACKORDERS AND AN ICO CLOGGING THE SYSTEM. NOT PEOPLE PANIC SELLING AND THE FOUNDER JUMPING SHIP LFMAO

Eth isn't going to make anyone a quick buck right now while they work on their excessive congestion and orders, but oyu're a stupid fucking nigger if you think ether will be less than $500 by october

>> No.2559142

>>2558543

thanks for throwing your money away to all the people who have backorders to buy up your cheap eth you stupid chimp

>> No.2559151

>>2558594
its like blaming the parking lot company when a car parked there gets shit stolen because the owner didn't lock the fucking car

>> No.2559166

>>2558323
LTC is the answer. It showed already several times that is it stable during accidents like yesterday. Trade your ETH to BTH before its too late. This shit is gonna drop further. People are scared because the network is clogged.

>> No.2559213

>>2558497
lol no shit. You just finding this out now? Dev teams don't care about coin prices. Eth is not designed to cater speculation.

>> No.2559215

Wait for rock bottom and go all in. This shit always rebounds after every clusterfuck. The DAO hack, the subsequent hardfork, etc shenanigans. It always come back.

>> No.2559288

>>2559215
At the end its as robust as a cockroach. But personally I would wait, the correction is not over.

>> No.2559317

>>2559072
From what I understand:

He sold a massive amount, which dropped the price quite low (mid 200s?) this kicked in a bunch of loss-prevention mechanisms people had set up to sell if the value dropped suddenly, which caused a snowballing effect dropping the price all the down to 0.1 as all buy orders were filled and a surplus was created, and then the market stabilized after the sales finished and climbed back to normal-ish.

>> No.2559332

WAKE UP NEO

TO THE MOON WE GO

>> No.2559335

>>2559215
>>2559288
Dollar cost average your way in

Good news could come any day and we see a 20% spike

If we know it's going to $500 just buy now, it's in a great dip.

>> No.2559639

Any predictions on how low it will go? I wonder when I should buy in

>> No.2559658

>>2558697
Seriously, just because an app gets broken because of shitty practices doesn't mean the underlying tech is broken

>> No.2559710

>>2559658
>shitty practices

there literally are no good practices yet

>> No.2559723

>>2558323

Buy litecoin, it's going to replace ethereum as the #2 coin.

>> No.2559758

>>2559723
LTC's climb from €23 to €41 was a godsend

>> No.2559845

eth rhymes with death

>> No.2559850

>>2558412
There is a shitload of dapps.

https://dapps.ethercasts.com/

>> No.2559863

>>2558472
Gold?

>> No.2559872

>>2559850
They don't work at all.

>> No.2559883

>>2559863
it's USD's bitch so no
unless we have a repeat of the 00s bull run, gold is a bad choice atm

>> No.2560004

>>2558323
BTC is looking good for solid gains with the segwit agreement. Alts will dump and the money will come home to papa Bitcoin.

>> No.2560048

Sell ETH
Buy NEO

>> No.2560149

>>2558621
Anything can happen ,((they)) only have to arrest vitalik and his goons and the whole thing comes tumbling down,Bitcoin is pretty much unstoppable at this point

>> No.2560175

>>2558472
Ripple is stable as fuck

>> No.2560262

>>2559116
Ok but you really didn't answer my question. Who is to say genesis guy didn't short eth, crash the price and then have his buddy or even himself ready to scoop up super cheap eth.

>> No.2560348

>>2558472
>It is hard to say what is stable at this point
TetherUSD

>> No.2560357

>>2558392
That dump could happen to any coin that is available to margin traders.

>> No.2560374

>>2560357
It happened to XRP/BTC on Poloniex a few months ago

>> No.2560375

Those bags are getting heavier and 7$ bound.

>> No.2560390

>>2560374
I honestly feel inclined on making sure to have low buys on all margin traded coins.

>> No.2560401

I don't think Eth is dead or anything but it's very overvalued at the moment and has some serious issues.

it should be at around the 300$, not the 400, let alone the 1000.

>> No.2560502
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2560502

>>2558323
How the fuck is it still even above $300?

>> No.2560510

>>2560401
It is around 300 right now

>> No.2560565
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2560565

>>2560502
JUST BUY ALREADY, WHO GIVES A FUCK ABOUT THE SMALL LEFT NUMBERS, WE WON´T GET ANOTHER CHANCE SO CLOSE TO $300 AGAIN FOR A GOOD TIME!

>> No.2561147

please explain how ethereum is fucked?

>> No.2561155

>>2561147
It's called FUDing brotha

>> No.2561160

>>2561147
Ethereum couldn't handle the transactions for over 24 hours. It doesn't scale any better than Bitcoin.

>> No.2561164
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2561164

by getting in the CACA shittrain

>> No.2561239

>>2561160
If Bitcoin handled the same load it would've taken 6 months instead of the one day with ETH. You seriously don't know anything if you think BTC is faster in any way.

>> No.2561259

>>2561147
It's inflated because of ICOs. Especially (((Bancor))) caused the $400 peak. But there is no real value in it just greed, you can see it on /biz/. (((Bancor)))-Shills dreaming about x10 and Lamboland, not realizing that they already lost 20% due to ETh dropping.

So all these ICOs are stacked on ETH like a card house. If one shits the bed, it will all collapse.

>> No.2561282

>>2561259
I don't understand how it works. So things like Status or Bancor. How do they make the price go up? When they're in the pre-buying phase? And then what makes ETH price drop? When the ICO is released to the public?

>> No.2561407

>>2561282
>And then what makes ETH price drop?
When they cash out again in FIAT.

>> No.2561610

whats the question newfag?

if you think its going to crash just short it and shut up about it, everybodys always talking about how its going to crash but never shows proof that they went short on it...why? because you are all scared and don't even believe your own FUD.

DO IT. Screencap me your short position

>> No.2561701

whom else /mined for a week to cover the over valued eth price because they didn't get on the bandwagon quick enough/ here?

>> No.2561715

ETH is premined crap

at least shill ETC

>> No.2561722

>>2558323

>he isn't on litecoin

It's almost like you want to be poor

>> No.2561743

>>2558543
Did you just drop the second biggest coin while it is dipping to buy ATH (litecoin, the original shitcoin that's been on a downtrend since its creation, no less)

>> No.2561760
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2561760

>Ethereum Transaction Delays
We're currently working through a backlog of Ethereum withdrawals. Recent or new sent transactions may remain pending longer than expected.

ETHKEKS BTFO

>> No.2561767

>>2558392
fpbp
>>2558402
You should be holding LTC alyways It was always a good pick.
>>2558682
>inb4 they can't fork a smart contract
That's the point. They had to make "Tokens" for smart contracts instead of having ETH backed by every smart contract.
Since then ETH is entirely hype and people not understanding that ETH Tokens by nature have to have more value than ETH (because they're backed by their function not by the ability to run arbitrary functions).

>> No.2561795

>>2558392
> thinking you can margin trade and overleverage yourself in the most volatile market in human history with no consequences
It's like you fuckers love staying poor. This shit is used in forex due to low volatility and risk management and even then it's not a wise move when you're a newfag who doesn't know shit about the markets

>> No.2561829

>>2558546
He meant Mt Gox, you mongoloid.

>> No.2561900

I traded all my ETH for byteball, waiting to get 20% returns on the July 9th airdrop, and then we will see.
I don't imagine ETH going up much higher than 20% in any case

>> No.2561945

HODL YOU LIMP WRISTED, WEAK HANDED FAGGOTS

>> No.2561989

>>2561155

I own 10k+ in crypto and I don't know what fud means

>> No.2562010

It's like people don't remember the "Kevin Crash" on mtgox

>> No.2562039

>>2560348
There's no wallet for that. And it's not smart to hold all your money on an exchange site

>> No.2562055

>>2561945
Why is it that potty mouths are overproportionately unaware of the vocative comma?
http://www.grammar-monster.com/lessons/vocative_case_commas.htm

Search 4chan archives for "faggot" or "retard" and you'll find flawed grammar in most of the results. I'm considering hiring a linguist to conduct in-depth research on this phenomenon.

>> No.2562071
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2562071

>>2561945

>holding a garbage 77% pre-mined, centralized vaporware token so that a russian teenager with late-stage AIDS can travel around the world in his cat pajamas on your dime

>> No.2562088

>>2562055

http://www.huffingtonpost.ca/2016/09/27/swear-words-intelligence_n_12213206.html

Intelligent People Use More Swear Words, According To Study

I even picked a left wing source since you seem like a cocksucking libtard maggot.

>> No.2562110

>>2562088
Yet most profane posts exhibit flawed grammar, particularly the lack of vocative case commas.
I personally notice several dozen posts with missing vocative case commas every day.

>> No.2562140

>>2562071

KEK

>> No.2562241

>>2562110
not every language uses the same grammar faggot.

>> No.2562250

>>2559883
Agreed. I feel like crypto is taking the place of precious metals.

>> No.2562283

>>2558323
How can anyone say that it lost them millions? Their coins don't get sold unless they've got a sell order in like weak scared little faggots. Sucked in that they got wiped out because of stop losses.

>> No.2562324

>>2561989
Fear
Uncertainty
Doubt

I first saw the term back when Slashdot was popular, and Microsoft was suspected of deploying paid shills to try to make Linux look bad.

>> No.2562399

I knew the ICOS would fuck us up

>> No.2562485

>>2562324
>Microsoft was suspected of deploying paid shills to try to make Linux look bad.
Linux doesn't need any help to look bad

>> No.2562496

Its this bancor shit, and obviously the flash crash on gdax which im sure is related to the bancor fud.

>> No.2562505

>>2562283
you don't know what stop-loss orders are.

I mean, sure, people were retarded, but they still lost millions.
Millions they shouldn't have risked playing a shitty lottery controlled by whales

>> No.2562565

>ETH goes up
>everyone loves it
>ETH dips
>everyone hates it
Make up your minds

>> No.2562574

>>2562565

I always hated it. it's just that no one listened until things went wrong.

>> No.2562582

>>2562565
>some people post positive things about eth
>whoa, 4chan is changing his mind!
>some people post negative things about eth
>c'mon, 4chan, make up your damn mind!

Get a brain.

>> No.2562585
File: 77 KB, 444x467, bancucd.jpg [View same] [iqdb] [saucenao] [google]
2562585

>>2558323
>Bancor $600 within a week
>Ethereum falls to $250

>> No.2562587

>>2558323
Sell all your eth. It is only high because of all these ICOs. Eventually these companies will need to cash out to pay themselves in real money. And that real money comes from you buying their shitcoins.

The whole house of cards is going to crash soon

>> No.2562601

>>2562587
>It is only high because of all these ICOs. Eventually these companies will need to cash out to pay themselves in real money

This guy gets it

>> No.2562673

TRANSACTIONS NOW PROCESS NORMALLY

PRICE IS GOING BACK UP


BUY BUY BUY IT'S THE LAST MOMENT TO PROFIT

>> No.2562674

>>2558670
if we were alone i would beat the shit out of you
>inb4 edgy memes
you begging losers need to be removed

>> No.2562748

>>2562574
>went wrong
I'm happy holding onto the ETH I bought at $10

>> No.2562777

>>2561829
Read the original comment you illiterate ape.

OP said btc got fucked by Mt. Gox (Jew exchange)

Eth's failure is a result of retarded management.

>> No.2562778

>>2558670
>these fucking beggars
laggard take responsibility for your own pride and work from your two hands. Begging is disgusting; have you no shame?

>> No.2562795
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2562795

>>2562071
this made me (as an ETH hodler) kek merrily thank you

>> No.2562804

>>2562110
Bad grammar is infectious.

>> No.2562831
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2562831

>>2562110

>> No.2562839

>>2562574
>things went wrong
>it's $300
thinking so hard right now

>> No.2562859
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2562859

>>2562795
>He keeps holding eth
kek. Even Vitalik is dropping it

>> No.2562973

>tfw I started the eth is a mess meme.
>tfw it will be back in full force soon.

>> No.2563297

>>2562748
You'll be right back where you started before too long

>> No.2563699

>>2562973
>tfw I started the "i started X meme"