He still hasn't bought ethereum

>he still hasn't bought ethereum

Joke is on you, I bought ethereum back when it is its lowest after the Hack.

I also bought bitcoin after the Chinese banned its use.

And back to >>Biz

>investing in a highly volatile meme that is LITERALLY based on nothing and the demand for that nothing
Just invest in stocks, at least the value of the stock is backed by the value of the company. Digital currencies like this are only good for making transactions anonymously and securely. It's dumb to treat them as an investment.

Why should I invest cash into some new meme cryptocurrency?
Serves those Mt. Gox idiots right for dumping their life savings into a volatile cryptocurrency and trusting an incompetent company to handle them.

>volatility
>bad for profit
pick one retard

I had 200

Sold 100 today at $37...look at price before going to bed.

$40+

Just kill me

you still haven't explained how ethereum is supposed to become relevant

>selling before it's reached the moon
Sell in 5 years when it's worth 10,000

Why do people think this is something where you can get rich quick without doing much work? There's literally nothing backing the value of these coins, it's purely based on speculation. If everybody withdrew their money from this coin, there wouldn't be any more money than from before. The only way that some people would have more money than what they put in is because some people got less out than what they put in. If some people make a ton of money off of this, it's because most people lost money.

even with a legitimate investment you should secure some profit while you still can. ethereum was supposed to be like a fuel for internet services or something but it's all fucking bullshit so you don't know if people are still going to care about it 5 years from now

>He still has wealth invested in currency

Fucking kek. All my money has been moved into guns, gasoline and food, I'll be rich when the shit finally hits the fan.

nice, i made $200 tax free

>nothing backing the value
>people spend large amounts of money in electricity to produce them but they have nothing backing the value
Sure, just like houses have no value. It's just speculation based on what people are willing to buy

Jesus christ you nocoiners sound like fucking retards. Learn about how our economy works dumbass.

But unlike houses, once that electricity is spend by the GPU mining the coin, it can't be monetized again. With a house, you can sell it and get the value back. You can't transfer a coin back into electricity.

Seriously, you guys think turning a bunch of electricity into heat is productive for the economy?

glad i didn't miss the train this time

I'm going to sell you a lottery.
I will flip a fair coin. If it is heads, I will pay you $2 on the first flip, $4 on the second flip, $8 on the third flip, and for the nth flip, I will pay you $2^n. Once tails is reached, however. The lottery will stop.
How much is such a lottery worth?

>You can't transfer a coin back into electricity.
You can convert it back to fiat currency which can be used to buy more electricity you dipshit.

>productive for the economy
First of all, actively pumping fiat currency into the economy is actually really good for it. People who invest in cryptocurrency are putting their fiat currency back into circulation at higher rates than most other people. Also, Ethereum is going to stop using mining in favor of something called proof of stake. Mining is only necessary for the initial generation of the "coins".

A SPACE YACHT FOR MY MOON PALACE

I lost about half of what I initially put into cryptos about last year (only about $200). I did at one point have like 50-60 ETH and FUCK, if i knew as much as I did now about trading/stocks/cryptos i would have kept it in ETH or BTC (this was back when btc was 400).

It's really hard right now to not jump back in but I am about to be unemployed and really need to watch my money. I'll play safe with a self investment of low risk low reward.

>You can convert it back to fiat currency which can be used to buy more electricity you dipshit.
But you did no work to actually increase the value of your coin, you just let your GPU get hot for a few hours. Nobody can fucking use the product of you running your GPU for a while to do anything. They're just pretending it has value. If everyone sold their etherium right now, there would be no extra money compared to what everyone put in when they bought it. The people who made money did so because some other people lost money. Investing in a coin is not like investing in the stock market. At least with the stock market, the value of a stock is based on the value of a company, and the value of a company is based on how much value they can add to the economy by producing and selling something people want. A coin is just fucking numbers.

With a house, value can be created. The labor it takes to build the house is worth something. The renovations and stuff that an owner can do can add value, because they've added features people want. A digital coin is just speculation on hot GPUs with nothing to back it.

this

This desu.
>buy a jillion at .01$ each
>sell half when it's at a good price
> ride the other half to the moon

You clearly don't know what you are talking about. Over time, the cost to produce a unit of cryptocurrency goes up. This means that manufacturing more does in fact increase the average value. Additionally, Ethereum has value beyond this because it also serves as a distributed computing platform. The people who are manufacturing coins are also providing a service by contributing their system resources towards the distributed computing aspect and they are also contributing another service by validating pending transactions.

>Investing in a coin is not like investing in the stock market
I never said it was. I compared it to property ownership, which is also how the IRS treats it.

> he doesn't know what a pump and dump graph looks like

Enjoy your flopcoin.
t. /biz/

Buy high, sell low.

>worlds first viable distributed computing network
>major investors like Microsoft and JP Morgan
Yeah, it's totally a flop.

People in this thread think Ethereum is a cryptocurrency and not "the world computer" with a 3 trillion dollar market cap

i'm a programmer. sell me on developing applications for this platform

>Over time, the cost to produce a unit of cryptocurrency goes up. This means that manufacturing more does in fact increase the average value.
And? You could put a lot of labor into something, say a WebOS tablet from a company that makes shitty hardware, and it wouldn't be worth all the time and resources you put into making it if nobody fucking wants it. Just because it took a lot of people warming up their GPUs for a while to produce something, doesn't mean it's valuable. At best, you're just investing in currency like real investors do. Yet real investors try to avoid currencies that are so volatile, because it's a good way to lose money when holding on as long as possible because of memes about making it to the moon.

I'm a programmer too. Honestly, for most of people it is not practical to utilize Ethereum "smart contracts". It's not free to have the network run your code. It's for big businesses to use for very specialized types of applications. People like me are just taking advantage of the fact that this service is of great value to corporations.

>wouldn't be worth all the time and resources you put into making it if nobody fucking wants it
Well there are plenty of people who want it in this case so you are just blowing smoke. You also completely ignored the fact that the miners are also providing a valuable service since this whole system doubles as a distributed computing network.
> Yet real investors try to avoid currencies that are so volatile
This is a blatant lie. Volatility is profitable. Just because everyone else is stupid enough to buy when something is being pumped and then panic sell when it's being dumped doesn't mean the rest of us are. Buy when it dips. Sell when it spikes. It's not exactly rocket science. I'm literally making thousands doing this and am approaching a point where I might be able to quit my job because the income flowing in from trading and bag holding is about to exceed my cost of living.

>You also completely ignored the fact that the miners are also providing a valuable service since this whole system doubles as a distributed computing network.
But are they directly monetizing each coin by a concrete amount? IE: one coin is tied to the value of whatever they produce?

>Buy when it dips. Sell when it spikes.
Some people got rich off of speculation on tulips... Doesn't mean that it wasn't a bubble and a lot more people lost money on it.

>I'm literally making thousands doing this and am approaching a point where I might be able to quit my job because the income flowing in from trading and bag holding is about to exceed my cost of living.
Ah, so you're just defending this because you have a vested interest in doing so. Just don't let your dreams of riding this to the moon blind you. You're trying to get rich by doing almost no labor... The money you live off of has to come from somewhere, and when it only comes from supply and demand of the coin, that's really risky.

>tfw only bought $150 of ethereum when it was $13.6

there is no escape from regret.

>you're just defending this because you have a vested interest in doing so.
Not really. In fact, I would profit more by keeping my mouth shut so the prices stay low while I'm still actively buying. Unfortunately, someone is wrong on the internet so all bets are off.

>doing almost no labor
Sure, writing arbitrage scripts and other trading algorithms is "almost no labor" by the same metric that my actual full time job is. Not to mention the countless hours I have had to put into market research which you clearly haven't done by your display of ignorance.

>The money you live off of has to come from somewhere
Yeah, and right now it's coming from big businesses pumping tons of money into it.
>when it only comes from supply and demand of the coin, that's really risky
Unless literally all cryptocurrencies take a shit overnight, I will be fine. I am not exclusively invested in Ethereum. Blockchain technology as a whole is not going anywhere soon.
This is not my only source of income or my only investment

I bet you don't even invest in high-beta stocks.

>Sure, writing arbitrage scripts and other trading algorithms is "almost no labor" by the same metric that my actual full time job is. Not to mention the countless hours I have had to put into market research which you clearly haven't done by your display of ignorance.
Again, it's not valuable unless someone wants it. Should I get paid for shitposting just because I spend a lot of time doing it?

>Yeah, and right now it's coming from big businesses pumping tons of money into it.
But you haven't adequately explained how they're monetizing it. How much profit do these companies expect to make and how does it make you money? To me, it just sounds like these companies are using you guys as a literal botnet to do some computations. How is the value of the coins you produce tied to the value of how these companies monetize what they computed?

>Unless literally all cryptocurrencies take a shit overnight, I will be fine. I am not exclusively invested in Ethereum. Blockchain technology as a whole is not going anywhere soon.
This is not my only source of income or my only investment
You're still an idiot falling for a get rich quick scheme that's too good to be true.

>eth gets expensive
>some 1337 haxxor pokes his dick into one of the holes in the swiss cheese code
>devs fork it to stop the haxxor from becoming the president
>prices plummet again
Wew.

>Again, it's not valuable unless someone wants it.
Again, there are people who want it. You are just projecting your own feelings.

>How much profit do these companies expect to make and how does it make you money?
It doesn't matter. The fact is that they are writing and executing smart contracts, which cost ETH to run. This is a very simple supply/demand model and you are trying very hard to make it seem more complicated than it really is. The corporations need ETH to run their smart contracts, which means there is demand. The supply is limited, because only so many can be produced in any given amount of time due to the computationally difficult work that is needed to produce them.


Anyways, I'm actually done arguing with you. You can be retarded all you want.

>Should I get paid for shitposting just because I spend a lot of time doing it?

he_doesn't_believe_in_UBI.webm

> how does it make you money?
It behaves exactly like an equity investment into a small-cap stock. Have you never encountered this situation in trading?

>corporations need ETH to run their smart contracts
So basically it's like having a VPS but you pay fuckloads more than you would by using Amazon's clusters? And it's basically code that you can't fix if you fuck up and put a bug in it?

>The corporations need ETH to run their smart contract
why? can't they use their own data centers without involving ETH at all? isn't it horribly inefficient to have to produce ETH on top of doing the actual computational work?

>Again, there are people who want it.
And because the value is based purely on supply and demand, as soon as a few people with a lot of assets withdraw from the market or there's some scare that causes the value to dip, a lot more people are going to withdraw from the market and it'll become worthless. You're not actually adding any value to the economy, you're just trying to profit off of a meme.

>It doesn't matter.
AHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA.

>The fact is that they are writing and executing smart contracts, which cost ETH to run. This is a very simple supply/demand model and you are trying very hard to make it seem more complicated than it really is. The corporations need ETH to run their smart contracts, which means there is demand. The supply is limited, because only so many can be produced in any given amount of time due to the computationally difficult work that is needed to produce them.
This sounds like a huge bubble. Like pointed out, there are cheaper ways for these corporations to do the same thing.

>Anyways, I'm actually done arguing with you. You can be retarded all you want.
*tips fedora*

>he_doesn't_believe_in_UBI.webm
I do, but I don't believe my income should be tied to how much I shitpost.

>It behaves exactly like an equity investment into a small-cap stock.
Stocks are backed by the value of a company, and the value of a company is based on how well they can produce value and sell their product to generate profit. Your meme coin is based on people running their GPUs to an early death.