Ethereum Way Up This Week

DooKey

DooKey

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Bitcoin has been the big cryptocurrency monster that everyone talks about, but Ethereum has been making a run up that's second to none. As a matter of fact ETH is up over 13,000% in the last year and is up 60% this week alone. This one bears watching and for that matter crypto as a whole may break through this year or go down in flames.

The digital coin is backed by a blockchain, much like bitcoin, but the technology is slightly different and aimed at a specific use case: smart contracts. Many see it as a cryptocurrency with a real world use because of large companies that are experimenting with the technology.
 
Is it just me, or does it seem highly likely (necessary, even) that a single crypto currency eventually prevails? I appreciate that different currencies have different designs that facilitate one usage or another, but that seems like a technical hurdle that can be overcome. Nor does the finite nature of a given cryptocurrency seem meaningful until the world settles on one currency.

My point is that there seems like there can really only be one winner...
 
bugleyman said:
Is it just me, or does it seem highly likely (necessary, even) that a single crypto currency eventually prevails? I appreciate that different currencies have different designs that facilitate one usage or another, but that seems like a technical hurdle that can be overcome. Nor does the finite nature of a given cryptocurrency seem meaningful until the world settles on one currency.

My point is that there seems like there can really only be one winner...
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Not really some coins are better then others or just different. That said just about all the coins are better then Bitcoins now
 
bugleyman said:
Is it just me, or does it seem highly likely (necessary, even) that a single crypto currency eventually prevails? I appreciate that different currencies have different designs that facilitate one usage or another, but that seems like a technical hurdle that can be overcome. Nor does the finite nature of a given cryptocurrency seem meaningful until the world settles on one currency.

My point is that there seems like there can really only be one winner...
Click to expand...

I don't think it will consolidate to just ONE coin/token but after a while there will probably only be a handful or so of cryptos that matters and then a vast horde of small caps that either failed or are likely part of some pump and dump scheme.
 
I hope this whole thing detonates.

Not for malice, not to teach GRQ people a lesson.

Because I want a new GPU (or two) and the price has almost doubled in the last few months.
 
Twisted Kidney said:
I hope this whole thing detonates.

Not for malice, not to teach GRQ people a lesson.

Because I want a new GPU (or two) and the price has almost doubled in the last few months.
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to be fair... miners are having issues getting hardware as well. im shocked how many other people are looking just as hard as i
 
I really hate the whining.. 'I cant afford a GPU because of the miners'.... 'theres no GPU's'.

Yeah, Im a miner, and yeah I paid 1250$ for a 1080 Ti. Did I like it? No. Do I have a choice if I want a certain GPU, no.


Guess what, supply and demand kids. Economics 101. Shortages can happen for ANY number of reasons and it will drive the demand AND price up. Look at DRAM prices. Cant blame that on crypto.

Anyways, I stopped mining ETH when I switched to nvidia hardware. I do believe ETH can win out although apparently Expanse can provide less latency for real-world transactions.

Who knows. Ill take my 500$ a month and be done with it.
 
Drewis said:
I really hate the whining.. 'I cant afford a GPU because of the miners'.... 'theres no GPU's'.

Yeah, Im a miner, and yeah I paid 1250$ for a 1080 Ti. Did I like it? No. Do I have a choice if I want a certain GPU, no.


Guess what, supply and demand kids. Economics 101. Shortages can happen for ANY number of reasons and it will drive the demand AND price up. Look at DRAM prices. Cant blame that on crypto.

Anyways, I stopped mining ETH when I switched to nvidia hardware. I do believe ETH can win out although apparently Expanse can provide less latency for real-world transactions.

Who knows. Ill take my 500$ a month and be done with it.
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wanna buy another one?
 
Drewis said:
I really hate the whining.. 'I cant afford a GPU because of the miners'.... 'theres no GPU's'.

Yeah, Im a miner, and yeah I paid 1250$ for a 1080 Ti. Did I like it? No. Do I have a choice if I want a certain GPU, no.


Guess what, supply and demand kids. Economics 101. Shortages can happen for ANY number of reasons and it will drive the demand AND price up. Look at DRAM prices. Cant blame that on crypto.

Anyways, I stopped mining ETH when I switched to nvidia hardware. I do believe ETH can win out although apparently Expanse can provide less latency for real-world transactions.

Who knows. Ill take my 500$ a month and be done with it.
Click to expand...

Zepher said:
wanna buy another one?
Click to expand...

Retronym said:
If you want a video card, buy one and stop crying.
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You misunderstand me.

It's not the coins, though there will soon be more e-coins than real currency. No, it's the get rich quickers I want. You see they're not in it for the long haul, they want to get rich quick. They tend to be lazy, hyper-vigilant and panicky. E-coins are like a Yo-Yo on speed-balls, it's the worst match ever. Those GRQs will panic when there's a fat drop across multiple coins. Hopefully, they'll cut their losses and those GPUs will be available cheap.

Like, really cheap.

There will be so many of them.

I wasn't paying full shot for a high end video card, I have five college funds on the go.
 
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The only thing more ubiquitous than e-coins are comments about video card prices.

Consider them read.
 
lol

yeah its probably going to come crumbling down at some point

news flash: zero fucks given edit: I have lost nothing..


and btw that was 1200$ CAD so roughly 900 USD @ time of purchase, brand new in box.
 
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Drewis said:
Yeah, Im a miner, and yeah I paid 1250$ for a 1080 Ti. Did I like it? No. Do I have a choice if I want a certain GPU, no.


Guess what, supply and demand kids. Economics 101. Shortages can happen for ANY number of reasons and it will drive the demand AND price up. Look at DRAM prices..
Click to expand...

I think we all understand basic supply and demend.



Drewis said:
I really hate the whining.. 'I cant afford a GPU because of the miners'.... 'theres no GPU's'. ...... Cant blame that on crypto.
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Yeah, calling this one out. We certainly can blame crypto. If some activity, regardless of what it is has secondary consequences you can say they those consequences were caused (that is to blame) by that activity. It's not illegal or immoral or whatnot, but it absolutely does have an impact. Think of it this way, say it was legal for me to open up a garbage dump 1 foot from your property line and I did so because it made business sense. After that point your home always smelled like an actual garbage dump. I think it would be fair for you to say that me opening up a dump next to your home made it smell. Really though, I hate this whining about your home smelling, you can always move to a new home if it's a problem, the demand for a dump outstripped supply -- so market forces man.
 
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Drewis said:
I really hate the whining.. 'I cant afford a GPU because of the miners'.... 'theres no GPU's'.

Yeah, Im a miner, and yeah I paid 1250$ for a 1080 Ti. Did I like it? No. Do I have a choice if I want a certain GPU, no.


Guess what, supply and demand kids. Economics 101. Shortages can happen for ANY number of reasons and it will drive the demand AND price up. Look at DRAM prices. Cant blame that on crypto.

Anyways, I stopped mining ETH when I switched to nvidia hardware. I do believe ETH can win out although apparently Expanse can provide less latency for real-world transactions.

Who knows. Ill take my 500$ a month and be done with it.
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Wait, are you still mining? If so which currency and with what gpu?
 
I dont understand crypto and am not afraid to admit it.

Ive been ignoring Crypto for years. My wife randomly bought some ethereum a while ago, and now we can vacation for free this year. The stuff still confounds me.
 
Cali3350 said:
I dont understand crypto and am not afraid to admit it.

Ive been ignoring Crypto for years. My wife randomly bought some ethereum a while ago, and now we can vacation for free this year. The stuff still confounds me.
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pics of wi.... damn this is not Genmay awe fuck it. pics of wife or ban
 
Woo. Put $25 bucks in, getting 150 out. Now I can say I got something out of this. But I’m not sure I’m willing to wager much more.
 
Drewis said:
lol

yeah its probably going to come crumbling down at some point

news flash: zero fucks given edit: I have lost nothing..


and btw that was 1200$ CAD so roughly 900 USD @ time of purchase, brand new in box.
Click to expand...


Haha yeah i just paid $1150 CAD for one yesterday and man it was hard to find stock anywhere! saw some selling for 1500-1600 . going to put both this and my 1070 straight to mining duty. Plan is to pay for the 1080ti in 4-5 months and then profit? There are no 1070 in stock anywhere i have looked! these crypto pricing are driving a frenzy
 
bugleyman said:
Is it just me, or does it seem highly likely (necessary, even) that a single crypto currency eventually prevails? I appreciate that different currencies have different designs that facilitate one usage or another, but that seems like a technical hurdle that can be overcome. Nor does the finite nature of a given cryptocurrency seem meaningful until the world settles on one currency.

My point is that there seems like there can really only be one winner...
Click to expand...

None of the "purpose" coins are even close to having their intended stake value properly implemented. Like all the other purpose-coins, Ethereum is still reluctantly riding the influx of chart value as the dominant aspect of its value. Thus, it will take some "settling" before the project finally decides to pull the trigger and make it "real". Ethereum was one of the earliest purpose-coins, and was the one that made me fully realize the potential, and is the only one I have any significant personal investment in -- not for charting purposes, but to pay for gas. So I do look forward to when it crashes the charts. In the meantime, I'll just ratchet some gas money. :)

The history of these massively fluctuating chart values is train wreck; highly destructive, but fascinating and hard to look away from. The popularity of thousands of pump-n-dump, "niche"-coin mining pools (shortly after darkcoin) provided all the late-game, GPU miners something to hedge. That fast growing community rapidly outgrew it's gambit of artificially rationalizing the interest in obviously scammy niche-coins during 2014, and some people lost massively with late dumps. The quality of niche-coin startup pitches started to matter, and the scammy e-gangs stopped being relevant. The party moved onto only well established coins and the occasional corporate backed niche coin (e.g. most recently, KODAK).

It's hard to say how much people truly believe in any of the purpose-coins, especially with chart manipulators fudging the numbers, but I'd like to believe that cryptos like SIA and ETH are going to be inherently more stable in the long run.
 
Twisted Kidney said:
I hope this whole thing detonates.

Not for malice, not to teach GRQ people a lesson.

Because I want a new GPU (or two) and the price has almost doubled in the last few months.
Click to expand...

You must not have been trying very hard before Christmas, because damn near everything was in stock for MSRP.
 
i'm kinda sick of the pissant attitude miners have toward others, smearing "supply and demand" in peoples faces like they're unfamiliar. WE KNOW, BUT WE DO NOT HAVE TO LIKE IT AND IT IS A FREE COUNTRY SO BITCH WE WILL, ASSHOLES. YOU deal with it.
 
commodork6510 said:
i'm kinda sick of the pissant attitude miners have toward others, smearing "supply and demand" in peoples faces like they're unfamiliar. WE KNOW, BUT WE DO NOT HAVE TO LIKE IT AND IT IS A FREE COUNTRY SO BITCH WE WILL, ASSHOLES. YOU deal with it.
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Well here is a card being marketed for Blockchain Pioneers:
https://promotions.newegg.com/amd/17-5388/index.html?cm_sp=Cat_Video-Cards-Video-Devices-_-amd/17-5388-_-//promotions.newegg.com/amd/17-5388/1920x360.jpg&icid=427323

I would say two groups are competing for GPU's, midrange and up I am referring to - Gamers and now Miners and with Miners it is basically a bottomless pit since every card pays for itself in shorter and shorter time periods so Miners have the funds to buy everything up while gamers can be on a tighter budget. This could change.

I would say now maybe a very good time to invest in Nvidia - Nvidia maybe on a verge of being a mega corporation as in IBM/Microsoft/Intel size - if they can produced the cards in numbers (their design to me is the one most likely able to be produced at greater numbers) they will make billions. Right now they could sell double what they made before - just getting all the parts to build more cards is the big issue. RTG and HBM - less likely. Polaris with DDR5 sure but will that compete against Volta? Probably not. Nvidia if they can produce the cards may have their biggest year ever.

As for Ethereum it is one of the strong useful potential coins, with other coins that are similar to it, which may also prevail. Any coin that has inherit value as in value of some sort if managed right, no serious issues will probably be around for awhile. Coins that can tie themselves to stuff that is valuable will probably also survive. Most I do not see making it.
 
Virtual currency is only worth what somebody is willing to pay for it, just like trying to sell your junk on Ebay.
 
Do any retail or eCommerce sites accept this as a legit currency where you can buy stuff?
 
motqalden said:
Haha yeah i just paid $1150 CAD for one yesterday and man it was hard to find stock anywhere! saw some selling for 1500-1600 . going to put both this and my 1070 straight to mining duty. Plan is to pay for the 1080ti in 4-5 months and then profit? There are no 1070 in stock anywhere i have looked! these crypto pricing are driving a frenzy
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Part of the price hike is due to how much eBay / Amazon charges in fees. For example (from actual experience / ongoing ), If you are wanting to sell one of the 1080Ti cards on eBay and get $850 out of it, you pretty much have to sell it for $925 because by the time you pay eBay their fees, PayPal their fees & then ship it with insurance and signature required (so you don't get ripped off), you have to add almost $75 to the cost to cover everything. Amazon has a slightly larger take as well.
 
ep0x73 said:
Difference is virtual currency is more like a stock, it can go up, down or even under whereas cash is worth it's face value.
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Investing and or mining is much closer to Forex spot market, which is still fiat (cash).
 
Whichever has the lowest transaction fees and value to USD is what ill be holding in, while trading and mining "penny" coins for profits.
 
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