Post: #1701

Also, does sending a larger amount of ETH need more gas than sending a smaller amount or does it take the same amount of mining power per transaction, no matter how big it is?

Post: #1702

(12-12-2017 03:40 PM)the-dream Wrote:  Also, does sending a larger amount of ETH need more gas than sending a smaller amount or does it take the same amount of mining power per transaction, no matter how big it is?

For your particular case: it'll take the same amount of gas.

Your transaction fee is calculated as gas amount x gas price.

Gas amount = unit for computational work required (remember that Ethereum has smart contracts functionality, so executing a smart contract can consume more or less computational resources as per the specific run).

Gas price = price per gas amount

Simple transactions, i.e. sending ETH from one address to another, will use the same amount of gas, regardless of the amount of ETH sent.

Post: #1703

ETH is currently blasting off to a new ATH once again. Honestly it feels undervalued considering the state of the market. Look at the ETH/BTC ratio, which has just only recovered back to the .04 range after getting slaughtered the past 6 months from .14 - .02. I don't understand why anyone is dumping their whole position now before POS. Just sit back, hold most of your ETH until POS, and collect your dividends. By then the price will be $1k+ barring a black swan event. This is probably the comfiest hold in all of crypto. 2018 is looking prime for another big leg up on the ratio.

-top developer share in the space. nearly half of the top 100 coins on CMC are tokens on the ETH blockchain.

-POS is likely coming this year. POW and the amount of energy being used to mine Bitcoin is incredibly wasteful. This is pretty much the boom/bust event that I think the market is waiting for

-EEA membership only continues to grow. The market goes crazy at a rumored Microsoft partnership with IOTA (that turned out not to be true), but meanwhile everyone seems to have forgotten that same Microsoft is already part of the EEA, along with Mastercard, JP Morgan, and plenty of other big institutional names. https://entethalliance.org/members/

-You'll also notice that CME Group is apart of the EEA. ETH futures are coming as well

-ETH has become the blockchain that processes the most transactions. I'm actually pretty sure it processes more transactions now than every other crypto combined. This chart here shows ETH vs BTC/LTC. The big 3. And ETH blows them out of the water. If you believe Metcalfe's law will one day apply to crypto networks as well, then ETH is criminally undervalued atm. https://bitinfocharts.com/comparison/tra...h-ltc.html

-Actual use case and value proposition outside of being a magical "store of value" that no one actually uses or transacts with. First Dapps are already out (etherroll, etherdelta, cryptokitties) and while people like to trash on the kitties for crashing the network, it only makes me more bullish on ETH. This is the mainstream adoption people have been waiting for. Just imagine a future where POS and Sharding are implemented to scale the ETH network, people are buying digital skins with tokens for their favorite video game, betting on sports with Augur, accepting payments using Request...the possibilities to disrupt many industries here are crazy. And the best part about it?

They wont even know they are using ETH.

Just like the average person knows nothing about how the internet works yet uses its thousands of apps daily now, once these DApps breach mainstream consciousness they wont have a clue how their farmville game they are blowing their money on works. And you'll be chilling on the moon as long as you have some ETH.

Post: #1704

I've read that in order to stake you'll need 1000 ETH, like Dash. How else would you be able to collect dividends with ETH?

Post: #1705

(12-13-2017 11:01 PM)Bill Brasky Wrote:  I've read that in order to stake you'll need 1000 ETH, like Dash. How else would you be able to collect dividends with ETH?

There will be staking pools you can join. I imagine the process will be similar to joining a mining pool. Check out this early alpha version being worked on: https://www.rocketpool.net/

Post: #1706

What a run up in ETH these past 30 days.

Post: #1707

I read through the whitepaper for rocketpool and the idea sounds promising. However I'm concerned with the relatively small team and the fact that the crowdsale has only reached 17% with 5 days to go. Any thoughts on the project and the timeline of the switch from PoW to PoS?

Post: #1708

^Whats the TLDR Of Rocketpool?

Post: #1709

(12-17-2017 08:56 AM)MaceTyrell Wrote:  ^Whats the TLDR Of Rocketpool?

First I recommend watching this

https://www.youtube.com/watch?v=aRiUG2UeUBc

What the service provides is the opportunity for individuals to pool their ETH together in order to validate transactions as part of the PoS system. The reward for this is the transactions fees for depositing your money.

What I compare it to is the traditional bank. You deposit your money and in return you get interest on that money. Depending on the savings account you take up, pulling your money out early may result in penalties as is the case with rocket pool (5% but i don't fully understand how this works). The other service rocket pool will provide is the ability for businesses or stores to earn interest on their ETH deposits or reserves.

I thinks it's an interesting project. But as a relatively new comer to the cryptocurrency world and having never participated in a ico before, I'm currently being very cautious and doing my due diligence. The other thing i would consider is the gains you would miss whilst your ETH is locked up in rocketpool. PoS hasn't been implemented yet and from my quick search It's not going to happen pretty soon

Post: #1710

(12-17-2017 04:58 PM)cycl0ne Wrote:  

(12-17-2017 08:56 AM)MaceTyrell Wrote:  ^Whats the TLDR Of Rocketpool?

First I recommend watching this

https://www.youtube.com/watch?v=aRiUG2UeUBc

What the service provides is the opportunity for individuals to pool their ETH together in order to validate transactions as part of the PoS system. The reward for this is the transactions fees for depositing your money.

What I compare it to is the traditional bank. You deposit your money and in return you get interest on that money. Depending on the savings account you take up, pulling your money out early may result in penalties as is the case with rocket pool (5% but i don't fully understand how this works). The other service rocket pool will provide is the ability for businesses or stores to earn interest on their ETH deposits or reserves.

I thinks it's an interesting project. But as a relatively new comer to the cryptocurrency world and having never participated in a ico before, I'm currently being very cautious and doing my due diligence. The other thing i would consider is the gains you would miss whilst your ETH is locked up in rocketpool. PoS hasn't been implemented yet and from my quick search It's not going to happen pretty soon

ha. Sounds like bit connect/another ponzi. good luck

Post: #1711

PoS will start off with 1000 ETH staking requirement. I'm sure quite a few staking pools will pop up, not just rocketpool. Even so, if you feel uncomfortable just wait a year or two. The requirement will eventually go down. I think they'll planning to bring it down to 32ETH, maybe even further as sharding gets underway.

In reality I wouldn't be surprised if Coinbase starts offering the option of staking pools. First, they have massive amounts of ETH and already have access to your private key. Secondly, it would fit in very nicely with their business model: allow users to buy ETH and then also manage their staking for them, all for a small fee.

Post: #1712

ETH paired back yesterday in the wake of Bitcoin Cash’s introduction to Coinbase/GDAX. However, ETH made up those losses and is now chilling at $842 USD/ETH.

Being on the sidelines sucks ?

Post: #1713

ETH is dipping below $800 (at $796) now.

Why couldn’t this pullback wait till Friday.

Post: #1714

(12-20-2017 04:35 PM)MaceTyrell Wrote:  ETH is dipping below $800 (at $796) now.

Why couldn’t this pullback wait till Friday.

Shit, who knows it'll probably be 1k by friday

Post: #1715

good time to buy ETH

Post: #1716

A great video by Joseph Poon, the founder of the Lightning Network and co-author with Vitalik of the Plasma paper.

He talks about how Plasma can be used to build private blockchains on the public blockchain Ethereum. This is huge as corporations can build their own blockchains and use Ethereum to give the trustlessness needed.

Post: #1717

Isnt Ethereum utilizing the Raiden Network? The Lightning Network is for Bitcoin, yes?

As an aside, I love how both “Network” names are plays on “Light” - the former uses a Japanese word for Light, while the latter...obviously uses “Light” lol.

Post: #1718

(12-24-2017 07:20 PM)MaceTyrell Wrote:  Isnt Ethereum utilizing the Raiden Network? The Lightning Network is for Bitcoin, yes?

As an aside, I love how both “Network” names are plays on “Light” - the former uses a Japanese word for Light, while the latter...obviously uses “Light” lol.

Great question,

So Raiden is one particular solution - it's not officially endorsed by the Ethereum Foundation or worked on by Ethereum core developers. Rather, it's an independent project.

Ethereum has a different philosophical approach to scaling than a lot of projects - it wants on-chain scaling (layer 1 scaling) as much as possible. Hence Ethereum core is working on such approaches as sharding. On the other hand, some other projects are following the "keep layer 1 secure, and scale layer 2" approach (Bitcoin, Monero, etc). Lightning and Raiden are second layer approaches.

As for Poon, the impression I've gotten is that he's moved away from Bitcoin due to all the infighting and is now on train Ethereum. I mentioned his affiliation with Lightning Network as many people may not know about him, but he's a big deal in the crypto-space. Guy is up there with the best, and his focus seems to be on second layer approaches such as Lightning (originally) and Plasma (now).

Post: #1719

ETH's staking will be the first legitimate opportunity for passive income available to the average person, outside of dividend stocks. (The other POS coins don't have the reach ETH does.)

The gains should be pretty impressive when people realize that.

Post: #1720

Love how quiet this thread is.

Post: #1721

Love how quiet this thread is.

Post: #1722

Post: #1723

ETH is a safer Coinbase buy in right now than BTC. Less volatility by the time your coins are deposited. But unlike LTC or BCH you can then trade directly out to several alts. And the transfer will be quicker.

ETH will continue to grow. It’s a solid platform with lots of tokens built upon it. Keep it as a chunk of your portfolio.

Post: #1724

What's eth staking?

Post: #1725

1. Bloomberg bullish on ETH:

https://www.bloomberg.com/news/videos/20...aten-video

Quote:Ethereum appears prime to assume benchmark status

2. John McAfee has recently been shilling coins hard. Had some altercation with Verge.

See:

https://m.imgur.com/a/wdwIj



Note he wants his payments in ETH, showing his true belief in Ethereum. Lol, he didn't even want the payment in the shitcoin he's shilling

3. A new game called EtherTanks is gaining popularity. Runs on Ethereum (of course, what other platform would it run on?).

https://ethertanks.com/shop

I haven't looked too much into the game, but reminds me of CryptoKitties where some people made out with a good amount of money buying and selling virtual cats.