It's finally all over

It's finally all over.

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github.com/ethereum/wiki/wiki/White-Paper
twitter.com/AnonBabble

fucking thank god.
press B to benis :DDD

How is it over?

B

citation needed

don't get my hopes up, please

b

shit's been declining for a week, yo.

B

No, BTC is just going down because there is a lot of specualtion for the upcoming August 1st date. It will rise after that.

By over you mean you finally off'd yourself?

Thank god, fuck these jewcoins for making graphics cards prices skyrocket

Nigga that is not a valid reason,
What events are causing this decline? Are people just being retarded? did some investor back out? is this shit actually useless?

>August f-f-first guys!
>it'- it'll r-r-rise!
You new to this?

Have you seen /biz/? The stupid memecoin miners are shitting bricks

>yfw another memecoin spikes after all the miners jump ship from ETH

I'll bite, why do you think it is dropping?

Well from what i've gathered the mining has gotten less profitable and the market is starting to cannibalize itself with whales and hackers.

That's downright glorious.

copy-paste what happened to dogecoin.

Why isn't there a piece of hardware designed for mining that isn't a gpu?

You guys are the same delusional bitter retards who shat on Bitcoin when it was $1 a coin. Thousands of neets just like yourselves have earned hundreds of thousands of dollars off of it over just a few years while you autists are still bleeting like scared, stupid sheep. This is nothing new for the crypto markets.

>Like a week

Lol

/biz/ needs to go back

Good, they are the most obnoxious cunts on Sup Forums, and by that merit the entire internet.

There are purpose built mining rigs, but the big enticing factor for Ether was that you didn't need any of that stuff to mine it.

It's still plenty profitable at $150 though. It will die when the difficulty keeps going up and eventually gets too high.

>it lost 33% of its worth in a month
>guise, it's still profitable ehehehe
Retard.

It is. Unless you live on like the west coast and pay out the ass for electricity.

Should rephrase that
>Shit's been declining for a month
>Shit's been CRASHING for a week, yo.

>factoring in electricity has a make or break factor
lol, it's a factor but not much of an influence of the overall ROI.

PREPARE FOR CHEAP USED GRAPHICS CARDS

People who are still mining are going to keep mining though. You're not going to see that flood of cheap used graphics cards that poorfags on Sup Forums are hoping for yet.

Damn, I was going to sell my unused RX480. Do you think it's too late?

>All the coinfags freaking out on /biz/
S U I C I D E W A T C H

Memereum was always a scam, that's why the many forks by people who knew it was thievery to avoid the founder 'reward' and run a rival coin, and the Ethereum hard fork the founders did to avoid having to pay out that DAO contract hack.

Forks upon forks upon scams. Everybody involved will turn on each other soon and lawsuits will begin when one of them cashes out the scam early and leaves the rest holding the bag.

Yeah.

You know they were making like 1600% on their electricity costs, right? The only problem is ROI'ing and even then they still have quite some resale value
You aren't even taking into amount the massive and ridiculous amount of ICO scams that have been popular lately

No, most of the miners selling their cards are still doing it at 2+ times the MSRP

IT
KEEPS
TUMBLIN DOWN
TUM
TUMBLIN DOWN
TUM
TUMBLIN DOWN

Thank god, can't wait for it to return to the norm so I can aquire cheap ether for the next speculative bubble 4 years from now.

See you faggots then

I hope many of those miners die from poverty

What are the minerfags going to do with all the GPUs they have?

Any of you learning Solidity to make millis in crypto?

The fleet footed ones will sell at a loss, and others will hold onto them and mine another meme currency that will bubble in a year.

there is only one alternative to bitcoin

Because people aren't buying it.

Bitcoin is driven entirely by demand.

That's what I said around 14 euro after the hard fork.

Luckily I bought some again at 80 dollars.

I've been in the game since before the last huge pump and crash in 2014. So I have a pretty good grasp of what will happen.

Small miners (less then 5 rigs) are already dumping their cards on eBay.

Medium sized miners, the type that have some decently cheap power and maybe rented out a place to host several dozen rigs. They will probably hold for 6 months or so while mining other shitcoins.

Large facilities, you know the ones with millions of dollars in hardware in huge warehouses. They are typically owned by Venture Capitalist groups and operating costs for whatever years was already budgeted for ahead of time in their business plan and investment. IE they probably are not going anywhere for over a year.

The way that Dagger-Hashimoto (Ethereum's Algorithm) interfaces with memory you can't make an ASIC for it. So that is why it's only capable on a GPU.

B

There's only one thing rising in August and it isn't bitcoin.

Somethings must fall for others to rise.
So sayeth the laws of the universe.
The bigger the thing that is set to rise.
The bigger the fall.

Yes fellow 4channers, sell me all of your ethereum, I'll take great care of it

Crunch numbers for free on Folding@Home and BOINC projects for that glorious e-peen, along with hashing ebin trips and cracking the trips of tripfags they hate

It's gonna take few more weeks before it's dead. Right now it's still profitable if you already have a mining rig.

Not to mention the upcoming Bitcoin apocalypse where some mining consortium released a PR release advocating for a fork.

Nobody can sit down anymore and build a consensus. Everybody instead just releases press releases or shit awful navel gazing blog posts and tries to discredit each other enough until one side gets what it wants.

If Bitcoin implodes Ethereum goes with it

DENIS :BBB

Just looked at ebay. Tons of rx480s being sold. HHAHAHAHHAHAHAHHAHAHAH MINERS BTFO

The hype is dying, so more of ETH's cracks are showing. The three most obvious issues with ETH are:

1. All of ETH's extensive corporate sponsorship defeats the purpose of a decentralized blockchain (since they can, theoretically, exercise control at any time)

2. We still have no fucking clue regarding scalibility since no one has accepted ETH directly as a payment option yet. (Everyone seemed to just be hoarding it waiting for "that guy" to show up and build something.)

3. In the current political climate, using a coin developed by a Russian is a huge red flag by the international community (inb4 Sup Forums).

It had a lot of other problems from the start, but all of these were looked over by crypto noobs seeing "OMG MICROSOFT IS BACKING IT GUYZ xDDDD" and started getting hyped to dick.

Hey man, I'm just trying to make a profit off of some dumbass trying to get into the game late.

I'm already ready. All the RX480s have been sold out for weeks on Newegg.

>Bitcoin has real utility goys
>surely you recognize it's value
>it has limited availability and is therefore valuable by proxy
My taint hair is quite the specimen. What will you pay for it user?

People cant be that dumb user. The ones who will be buying these cards will be the people you fucked over in the first place.

>no one has accepted ETH directly as a payment option yet.
And no one will. No business is going to risk accepting a currency that isn't stable. Places that started accepting bitcoin were only doing it for publicity when the first crypto bubble hit mainstream.

Do you take Goycoin?

ETH is not bitcoin, it's an application platform so nobody will be paying 'with ETH' anytime soon. The whitepaper explaining exactly what Ethereum was supposed to be is here: github.com/ethereum/wiki/wiki/White-Paper

You could however taint some ETH tokens and claim they are now "ETHUSD" if you were a bank or exchanger, and then use the system to trade for other tokens or services which is what the orig plan was, problem is imperative programmed contracts are a terrible, terrible idea. The Russian 'founder' pushed for this in Bitcoin and they politely explained why they refused to allow a turing complete language on the block chain so he created his own shitcoin which is rapidly tumbling.

B-B-BUT HE WAS ON THE COVER OF NEWSWEEK!

He paid to be through a PR agency, google "The Submarine" essay by paul graham which explains why you constantly see Ethereum in the media

q

Fight the system.

>tfw you bought at 391 USD and it's under 100 now.

holy shit what did i do guys?

Just wait a while.

I don't think ETH is over by any means but it was never meant to be a fucking currency. It was created as a platform for distributed computing and meant to be held. The smart contracts are so that it's value can be tied to a real asset to give leverage to holders. The transactions are meant to compliment the solving of actual cloud-based computing problems and exchange of digital services, which is why is was made turing complete.

Except like said, any jackass can just create a token now which led to the creation of a million scam ICOs that overshadowed the good ones with a solid business plan. Couple that with decentralization and no form of regulation and you've got the cluster fuck that is going on right now.

That being said, I still have a few hundred dollars tied up in ICOs with actual business plans and am going to keep my money there. ETH is not going away, it's just having major growing pains.

>bought at 391
Kill yourself you monumental moron.

I consider ETH contracts 1.0

It is to me kind of a buggy, scammy venture and somebody else is going to come along and iron out said bugs, not have a scammy founders reward, not shill themselves in the press every second and use a declarative type contract language that other people can verify is correct. That will start grass roots and quietly take over when ETH eventually crashes because I see the founder(s) all cashing out and running away if promised quick billions aren't forthcoming.

>Be me
>Poor af, jobless
>Decide to put the only money i have left on 2 RX 580, to start mining because hype
>They were expensive af because miners, won't even say how much but it was a lot
>Decides to focus on Etherum because Bitcoin is too hard to mine, and the other crypto shit aren't worth shit
>This happens

Sheeeeeiit

Come on, user. You would have to be retarded to think that wasn't a terrible idea.

There is still money to be made in shitcoins. Just mine the really really cheap alt coins. Even a minor price rise when a coin is really cheap means big gains for any holders.

Yeah except ETH is genuinely bad. There are plenty of competitors already that are just as scammy but ultimately have better tech, whether or not smart contracts are even really valuable is yet to be seen but being short on ETH is obvious

B

i just bought 1,018 dollars worth of ethereum and pretty sure that i'm gonna be set for life off this shit. i would invest even more but that's literally all the money I have, thanks for the tip Sup Forums

is this bait

Yes, no one is that retarded.

How much is an rx 480 8gb worth for on ebay right now feel like picking one up.

I want one too. but pretty sure I looked a couple days ago and they were still overpriced

my nigger, just got into it

get on the monero hype train buddy

Wait until Vertcoin moons. If you've think you've seen some shit with the (fraudulent) Eth rise, just you wait.

sent ;)

Alphabay did.

B

You should have rather bribed someone for a job ya dingus

this thread has really got me thinking.....

We're talking about legal businesses, alphabay is far from legal.

>In the current political climate, using a coin developed by a Russian is a huge red flag

Most Russian diaspora in North America are Jews and hate Putin.

>1 week ago
>HOLY SHIT I CAN'T FIND ANY AMD GPUS THEY ARE ALL SOLD OUT IN THE ENTIRE WORLD

>Now
>Ethereum going down faster than the 9/11 towers

Tell me Sup Forums. How many people lost money getting into Ethereum so late? I want to laugh at them.

Mined for 3.5 weeks in may-june on my shitty rx480 from gigabyte, made about $60 right in time before steam sale which was pretty nice. But those faggots who bought every card available deserve to be castrated.

B
B
B
B
B E N I S :DDD

I'm constantly amazed at the lazy people who gets angry at the people who put towards effort to take advantage of this goldrush.

Said goldrush only lasted a month and a half. There will never be something as big as bitcoin again so why even bother to begin with.