Aaaaaaaaand ETH is up to ~$185...
And a 52 others. The full announcement is here. Lots of significant names! Deloitte, ING, Rabobank, National Bank of Canada, Samsung... This feels like ages ago: I'm still waiting for a correction - as we speak, the market cap for ETH is half of that of BTC. It feels overvalued to me in relation to the development path of Ethereum, but that's based solely on my SpideySense™. I'm holding on for the ride.
BTC went to a grand, then down to what? $170? Can you really "correct" a market that's frothier than a 3x ETF? Long-term, I think it's gonna come down to Ethereum, Ripple or Hyperledger. A lot of big names are in Ethereum and Hyperledger. Others are in Ethereum and Ripple. The Japanese are heavy into Ripple; the Koreans are heavy into Ethereum. Nobody's done a Venn diagram, though, and I think we're getting there.
Ripple doesn't have smart contracts, and I doubt folk would want to build a Rootstock for Ripple, seeing as it's not really decentralized. Ripple Labs can choose truth. As there's no public hyperledger used, it has none of the creativity being invested at a much higher cost. But yes, I expect a pullback at some point. But who knows from whither to where.
All these arguments are true and we still ended up with VHS. That Betamax was objectively better on every front but one did not matter because that one front - the ability to fit a 2-hour movie on a single tape - ended up dominating the market. A Blu-ray player has the physical capability of playing an HD-DVD. It won't, though. They even use the same codec. It's arguably a superior format in many, many ways and the manufacturers could have made a device that played both - nobody did but Samsung. It was argued backintheday that Microsoft and Apple picked opposite sides on that battle for the express purpose of making sure neither format became dominant ahead of streaming because physical media was in neither of their business plans. Sho'nuff, Silverlight is the backbone of internet streaming and Quicktime has been canonized into FCC broadcast rules. A rational market would choose Ethereum. Markets are rarely as rational as we think they are.
Agreed. In fact, I suspect a technologically superior smart contract platform with blockchain-like security will emerge, and will may lose to Ethereum simply due to the inertia being built each day. Maybe not, but in any case, I strive not to be caught unawares.
And fuckin'A where do you find truth? I find that half the links that wash across my transom are about technical analysis. Except in this crazy world, with as few participants, technical analysis is only as invalid as the number of people who ignore it, and fuckin' 90% of the coverage of cryptocurrency on any given day is goddamn technical analysis so you have to at least entertain the notion that in this one stupid instance, you might have to acknowledge the validity of technical analysis.
As far as I am concerned, it's all about who's building on it, and what they are building on it, which then roughly translates to txns/day. Status, Golem, Raiden, Augur, etc. Those things require serious mindshare and energy, and they create compounding value. Toyota and Samsung joining the EEA are lagging indicators. Also the mindfuck of an ETH dapp that is Prism:
Interesting dapp - I'm sure there are already a bunch of people diversifying over multiple altcoins. Do you think any of the other altcoins have merit (e.g. concepts that can't be implemented in Eth)? Golem looks useful but I don't see why it's not just a dapp instead of being a different coin.
ETH tokens are basically tagged bits of ETH that track ownership/participation in a Dapp/contract. I believe that different tokens represent different amounts of ETH, but that they are all quite small. I need to look into that. Their value isn't directly tied to ETH's, no.
That's just it though - it isn't as far as you're concerned, or as far as I'm concerned. We're passengers here. One thing about markets as they currently exist: they're at least nominally regulated. I recognize that it isn't as simple as all that but...
and back up to 178 and back down to 162 and back up to 181 and back down to.... nope... you can't... but if you're anything like me, you also can't not... As a friend of mine said earlier "Holy Volatility Batman" I had been successfully not looking this morning until after lunch. It's this weird mix of excitement and dread.
I had a long thing written. I browsed away. It's gone. I'm not upset. It was a lot of prognosticating with very little point. I got into Bitcoin at $170. I got out at $450. If I'd gone to cash I'd be bummin' right now - unless I needed the cash at that moment. I didn't. I went to ETH. I still don't need the cash. My investment in ETH is nominal and I felt no impact from that money leaving my coffers. I have not yet felt the impact from it returning. As such, my ETH investment remains in an alternate reality where dreams are built. Cashing out now means a more meager dream. If I needed that cash to keep my current reality alive? I'd have a very different attitude and I'd be thankful of the resources I have that others lack. As it is, it's an abstraction. When I bought into BTC, Very Clever Publications were saying it might be worth $2000 one day. That day was yesterday. The crazies had another opinion. They might still be right, but I don't think so. But when I bought into BTC, it was cheaper than ETH is now. If I'd piled my retirement funds into ETH back when I threw my handful of change on the table, I'd be fuck-you rich right now. I'd also be a terrible person. I invested what I could risk and the risk paid off. It's still crazy risky. I told my dad a few months ago I owned some crypto. He advised me to get out now while I still could it's all a crazy scam. I think ETH was trading at $17 that day. I guess it comes down to "what would you do instead?" Real estate? Not in this market, boyo. Stocks? Have you seen the lagging P/Es lately? Bonds? Please. Brick'n'mortar? You've got someone else's money backing Forever Labs and not buying them out right now is a great form of hedging. A new car? Five years from now, that might be your eighty million dollar Honda. It might also be your fifteen hundred dollar Honda. If you need a car, buy a car. If you don't... Women generally make more money investing than men do. Why? they fuck with it less. I don't understand this market and I don't have any insight. I can also afford to lose it all. Thus comes complacency. It's still a long thing. It's still pointless. Sorry.