IT'S HAPPENING - CRYPTO EDITION

Up until half a day ago the price of cryptocurrencies were steadily rising. BTC has risen over the last week from $575 to $756, most likely because people are trying to save their wealth from the oncoming apocalypse.

Ethereum is yet another blockchain - distributed ledger - system whose unit is ETH. It is different from BTC the same was as HTML is different from Javascript. While Bitcoin allows you to make instantaneous transactions in a decentralized network, Ethereum allows you to code your own smart contract that defines and executes the terms of the trade.

This video shows how a simple marriage smart contract makes it possibe for an account to be accessible by both parties, and allows transactions from it only if both parties approve.

youtube.com/watch?v=zRpziAtk61g

Today however the price of ETH fell by 25% after more than $50 millon disappeared from a DAO smart contract. The contract was working as intended, yet nobody bothered to read it before investment.

Now some people - who lost their money due to their own carelessness - are pushing for a bailout. This bailout is the path towards centralization that could destroy all the potential within Ethereum.

>reddit.com/r/ethereum/comments/4oi2ta/i_think_thedao_is_getting_drained_right_now/

>reddit.com/r/ethereum/comments/4oiqj7/critical_update_re_dao_vulnerability/

>cointelegraph.com/news/should-ethereum-hardfork-or-allow-hackers-to-run-with-50-million

Also, the price of ETH reached $20 yesterday, now it worths $15 and falling. Some of you may remember the times 1 BTC (that is now $700+) was just as cheap. If the Ethereum community successfully retains its honor, investing into ETH will have an astronomical ROI in the upcoming years.

Other urls found in this thread:

vessenes.com/more-ethereum-attacks-race-to-empty-is-the-real-deal/
twitter.com/SFWRedditGifs

>tfw missed out on the ground floor of the bitcoin boom
>think about it every day

Who else knows this feel

I was a stupid kid, watching its genesis, knowing that it is a revolution, yet spent all my money on books and weed.

Gambling is always painful. No one has a crystal ball, don't worry about it user. It could've easily went south and you lose all your money.

>cryptocurrencies
More irrelevant than my opinion

I thought it was only the DAO that was hacked and not ETH.

Are they suing DAO or ETH?

It was only the DAO.

I hope that they do not do a hard forking to back track. That would destroy ETH.

A friend told me about it when it was like

>bitcoin at 10 cents
>"heh, I should put down a hundred dollars and buy 1000 of them. That would be a good way to waste a hundred bucks, lol"
>my fucking face when, now

Honestly senpai I think crypto currencies / block-chain will be the only way to stop the juden banksters in the future.

Shame that BTC is essentially treated like a Commodity here in the US (i.e. meaning they can tax it).

It's not too late.

i know this feel bruh
i had no job at the time and more pressing matters i had to care about
in hindsight i should have spent all my money on it

This is why it is essential to keep an eye on ETH. I completely believe that - if they can go through this crisis - the same price increase will happen with it.

True, that is why it saddens me when I see faggots like thinking that it is nothing.

DO NOT INVEST IN ETH

IT IS TOO LATE TO MAKE MONEY

ONLY SHILLS PUSH YOU TO INVEST IN ETH
SO THEY CAN RECOUP LOSSES AND MAKE MONEY OFF IDIOTS LIKE YOU

IT IS TOO LATE TO BUY BTC

DONT INVEST NOW OR YOU WILL BE BURNED

w/e, i got my assets in metals now. Feels safer, they are in my possession so they can't we wiped out by an EMP, a CME or just pure (((coincidence))) banning. They might not give a 50% return rate over a day but they won't go down 50% or disappear over a day either.

But i would have been pretty sweet to have bought them when they where at

I still have 2btc.

>get on my level

Know the feel. I watched it start up, when it was a new thing to be ridiculed.

6 cents...

Btw there is a guy named Clif High that got a bot that goes through the internet and collects all kinds of info and then shifts through it in some way and tries to predict the future. Its actually manage to predict a few things, like this current rise in BTC.

Maybe its worth looking in to. Its a subscription service that costs quite a lot of money but he allows some guys to read bits out of the report. Jsnip4 on youtube comes to mind.

Obviously the report could have caused this rally but what ever, it happened, like it said it would.

dayum.

BTC is like the petrodollar but for drugs, the fact that people can use it to buy drugs online gives it value. Should have seen that coming, druggies always want more drugs.

But if they shut it down i imagine demand will go down a lot.

Want to know what's worse? Having gotten into Bitcoins when they were still new, having mined several hundred of the things because you happened to have the right hardware, and then losing the wallet because you thought Bitcoins were dead and buried after the first big crash. I nearly had a heard attack when they took off again and I realized I had no way of getting those coins.

>put a small number of BTC on a trading site a few years ago
>account randomly suspended now

how surprising

all crypto shit is just to unstable. gains beyond a few cents in a month are a bad sign. just as bad as losses beyond a few cents

what was backing the gains? fear. not real world situations. cyrpto stuff isnt justified by the same means that any real currency will be which also stabilizes the value to a degree for real currencies

your just gambling getting in to any of them. more so than a normal currency. massive changes for the euro ,the ruble the yuan are in the range of a hand full of pennies

for the big dogs this is all just semantics . % loss is % loss but for normal people the flat rate lost is enough if you scared and went all in on something you thought would appreciate just because of fears of volatility. retirement savings gone and your left with little time to recoup them before your old

Its volatility doesnt mean anything apart from the fact that it is volatile. I don't understand your point. It doesnt mean that it cannot and will not be used for commerce the same way gold may be used, it only means that the vast majority of people still dont know what the fuck they are supposed to do with cryptocurrencies.

>cyrpto stuff isnt justified by the same means that any real currency will be which also stabilizes the value to a degree for real currencies

wat.

I dont get why people are buying into the crypto meme.
How often do these people need to get burned to learn their lesson.
vessenes.com/more-ethereum-attacks-race-to-empty-is-the-real-deal/

I remember when retards cashed out their 401ks to buy Bitcoin at 1200$ and then it crashed down to 200$ less than a month later

>to the moon goyim

>people are trying to save their wealth from the oncoming apocalypse

>no electricity
>imaginary "wealth" vanishes

Lol.

Was there no electricity in 2008?

This desu

A total economic meltdown will trigger widespread riots and that will in turn trigger martial law and a shut down of the internet.
BTC is going to increase in value up until the end and that its going to go poof together with the rest of the system.

Electricity will be unreliable in an apocalypse.

Also during an apocalypse, you won't be able to trade pretend computer money for food and guns.

This is going to be a lot worse then 2008. The problem was never fixed, they just lowered interest rates and pumped up the market with QE.

I remember when I was in fucking highschool freshman like 7 years ago I almost bought like 100 bitcoins for $20 for some fucking freeware flashgame you could buy shit in.

It is true it still doesnt mean that there will be no electricity. Mass unemployment as the misallocation is being cleared out, yes. Governments running out of money and runaway inflation, yes. But no electricity is either a fantasy or the final days of the most socialist countries.

If you will be able to trade pretend shiny coins then you will be able to trade pretend computer money. This is not an argument and you are a retard. People want goods and services, they will want to fix their escape cars, they will want ammo, they will want a fuckton of things, and those who have it will not want your fucking beans. And if this is the case, you need money to facilitate trade, and for that, anything can be used as long as it is scarce.

Also, you can buy keychain crypto wallets.

Who cares? I can't believe people are so shortsighted. Markets fluctuate, things crash. Ethereum is objectively better than Bitcoin, therefore you're bound to get your money back in the long run.

I didn't say no electricty, i said riots, martial law and restrictions on the internet.
Do you think that is unlikely? Imagine if every ones 401 goes *poof*, all their savings are wiped out/locked up, 40 million people on food stamps gets told ''lolno'' when they are trying to buy food and half of the people working in retail gets fired or their hours cut.

Do you think there will be people on the internet agitating for riots? Do you think the government might want to put a lid on that?

I hadn't heard of it until it was like 75$ a btc

It did not crash.
Someone hacked it.
If your product is not secure and its only purpose is to conduct online business then you are fucked.

edgy cult is being edgy

k den

This thread is making me feel like shit

I feel like a lot of people jumped in early and forgot about them. I mined like 6.4 or something a long time ago and cashed out when it was in the $700s. The shitty thing is that cashing out cost me like 8%, but considering I paid nothing for them I was pretty happy. Paid my rent for 1/2 a year.

>hear about bitcoins when they were 20,000 for a single pizza
>download the miner but was too stupid to figure it out
>figure it out when it hits $100
I mined when it got big, truly a fucking retard tier mistake.

...

Why, user?

>buying bitcoin to SAVE your wealth from meltdown

Isn't coverting into fiat still a problem. If I could have 50k in btc or USD. I'm taking the USD then diversifying assets.

Dummy,what do you mean? Investing at the time meant what spending under $1000.That is nothing.

back then there were no exchange websites, so the value of the bitcoin was decided by the individual

.It is. Similar tech will assist in building functional new city states amid the demise of the old corrupt world of politicians, central banking and globalism.

A volunteer meritocracy where racists like BLM could never even happen because there is no welfare.

Shits more important than this puppet show of an election.

I have 20K in Ethereum. Everyone in crypto expects massive volatility and emotional traders

Yep
"Wow cool idea. Bet it's a scam though"

Knowledge without action is useless.