Introducing Ethereum (Bitcoin but better...or worse...depends on who you ask)

The growing excitement about Ethereum reflects the fact that it's a lot more than just a Bitcoin clone. People can use the Ethereum network to make payments, just as they can with Bitcoin. But the network can do a lot more than that.

Ethereum is a new kind of virtual computing platform. Its most exciting feature is its ability to create binding financial agreements that can be enforced entirely by software — no involvement by courts or other human mediators required. That, in turn, has made possible virtual organizations that exist only on the internet. One such organization, called the DAO, has raised more than $150 million in virtual currency to fund further work on Ethereum-based technologies.

Like Bitcoin, Ethereum represents a technological breakthrough, allowing people to do things purely in software that weren't possible before. But the big question about Ethereum is whether it has practical applications. Ethereum has gotten techies excited, but so far no one has created an application for Ethereum — or Bitcoin, for that matter — that has appealed to mainstream consumers.

http://www.vox.com/2016/5/24/11718436/ethereum-the-dao-bitcoin

Yeah, but does it improve on the relative anonymity that bitcoin provides? I need to be sure my fake passports and utility bills are untraceable... not to mention the turkish #3 and peruvian flake.

This may or may not backfire...

I'm thinking backfire. Probably gonna be embarrassed in the morning...

xsanguine wrote:This may or may not backfire...

that's perfect

Wow, there IS a thread on this.  I just heard about this shit a couple weeks ago, bought 50 of them at like 12, now its at 42 tonight....

Etherium is taking off right now. The price has doubled in a couple of weeks.
Bitcoin is tapering off from highs of $1200 to about $1000 now. I'm waiting to see if it crashes again. If it does, there is sort of a pattern to it. I'll probably wait to see if it goes under $600 again. If it hits $400 I might through in a couple K.
Etherium is interesting, and sometimes its good to buy when they are relatively new and hold on for a few years to see what happens.

InTenSity wrote:Etherium is taking off right now. The price has doubled in a couple of weeks.
Bitcoin is tapering off from highs of $1200 to about $1000 now. I'm waiting to see if it crashes again. If it does, there is sort of a pattern to it. I'll probably wait to see if it goes under $600 again. If it hits $400 I might through in a couple K.
Etherium is interesting, and sometimes its good to buy when they are relatively new and hold on for a few years to see what happens.

I've been buying both BTC and ETH. More ETH than BTC though. I'm going to hold. Fuck trading this shit at this point. I bought some gizmo to store these fuckers on and take them off the innernets. Lock em up im my vault and forget about them for a couple years. We are in the infancy of this shit. Potential here seems greater than anything we've seen ever in terms of price appreciation.

ETH was 8 bucks back in December. Tonight, I bought a couple more for 72 bucks. That isn't a bad annualized return right there...

Bitcoin will never dip back down to 400. Not until there is an even that makes us all extinct, anyways....

What happened to silver going parabolic ?

FatFingers wrote:What happened to silver going parabolic ?

Ask the Comex. Still buying silver as well.

Didn't buy much, but bought 1.5 etherium at 40. Maybe I should buy some more. Might be at $200 by the end of the year.

Ethereum Stole The Show

none of you give a fuck about any of this do you.... wow. none of you give a fuck about gold and silver either. wow........

gHost Spartan wrote:Someone please explain HOW you buy these and what you use them for?

I buy at Coinbase.com, you can use banking info or a CC. I'm not sure if people still sell them locally, but that used to be a way to do it as well. There are some goods and services that you can trade BTC for. Ty is doing it to invest in, which is risky, but right now and going forward appears to be gaining steam. BTC is used in a lot of countries that may not have steady economies, so that is usually what starts to push the price up. If you have some time, google Satoshi Nakamoto. I don't understand the technical aspect as well, but for something to dabble in, its interesting. They are very volatile markets, so you can make and lose a lot.

https://www.forbes.com/sites/johnwasik/2017/03/22/4-ways-to-tell-if-bitcoin-is-in-a-bubble/#3b635d1c3ee7

If I had a gun to my head and had to "invest" my entire net worth on 1) cryptos or 2) any stock in the DOW..... I'd pick the cryptos right now 400 times out of 10.

Watch Out Pylon! wrote:https://www.forbes.com/sites/johnwasik/2017/03/22/4-ways-to-tell-if-bitcoin-is-in-a-bubble/#3b635d1c3ee7

This article is fucking bullshit. I stopped reading after 4 paragraphs. Dude is either an idiot or has an agenda.

tTy wrote:

Watch Out Pylon! wrote:https://www.forbes.com/sites/johnwasik/2017/03/22/4-ways-to-tell-if-bitcoin-is-in-a-bubble/#3b635d1c3ee7

This article is fucking bullshit. I stopped reading after 4 paragraphs. Dude is either an idiot or has an agenda.

Weird. I think the same think with most of your posts.

Watch Out Pylon! wrote:

tTy wrote:

This article is fucking bullshit. I stopped reading after 4 paragraphs. Dude is either an idiot or has an agenda.

Weird. I think the same think with most of your posts.

This is not a personal attack, Pylon, so don't be a bitch. Dude is either trying to scare people away from the cryptos or just plain doesn't understand them (compared to alternatives, ie: stocks, bonds, ETF's, mutual funds, and etc)

I understand crypto currencies and know they require a leap of faith for investors on at least two fronts.

You need to be able to actually use it for goods/services purchases and/or have an exit currency.

You also have to hope it won't become a target of one or more governments and become worthless.

I look at crypto currency like an adult verson of Pokemon. You need others to play along so there is value. I realize the yuan, dollar, euro all require the same faith but they have a lot of governments playing along.

GRR Spartan wrote:I understand crypto currencies and know they require a leap of faith for investors on at least two fronts.

You need to be able to actually use it for goods/services purchases and/or have an exit currency.

You also have to hope it won't become a target of one or more governments and become worthless.

I look at crypto currency like an adult verson of Pokemon. You need others to play along so there is value. I realize the yuan, dollar, euro all require the same faith but they have a lot of governments playing along.

Conversely, no government can suppress the value of a good crypto. Thus, BTC could go to 7 digits easily once everyone jumps aboard. And why wouldn't they? Eliminate government control, price = up. Get in on the ground floor. Nobody can "short" the crypto's like they can stocks N shit..... Crypto's are a true supply/demand scenario especially in capped populations, such as BTC. BTC will be a great store of wealth in the future. Don't be stupid. Look into it, and invest, and hold.....

Ethereum is a whole nother ballgame. It is going to revolutionize money.

Just bought 10 LTC.

GRR Spartan wrote:I understand crypto currencies and know they require a leap of faith for investors on at least two fronts.

You need to be able to actually use it for goods/services purchases and/or have an exit currency.

You also have to hope it won't become a target of one or more governments and become worthless.

I look at crypto currency like an adult verson of Pokemon. You need others to play along so there is value. I realize the yuan, dollar, euro all require the same faith but they have a lot of governments playing along.

I forgot to ask a simple question regarding your desired currencies..... How much debt must be supported to keep alive your favorite currency? Does anything back these currencies other than "faith"? I think not. Cryptos are supply/demand, period. There is no monetary reserve deposit chicanery involved in the cryptos....

Fiat will die. I am right.

I said nothing about desired currencies.  I listed 3 currencies that are accepted by governments, multi-national banks and stock exchanges.

You are betting that Ethereum will not fall prey to the shenanigans that befell bitcoin.  

Ethereum will require a buy in by the same people who call the shots for the current major currencies.   Its at best going to be an alternative to precious metals and stones like diamonds.

The advantage of Keynsian economics is the drop dead date keeps being pushed back regardless of how dystopian the outlook.  The dollar, yuan and euro are worth whatever is decided and as long as those currencies governments  are calling the shots crypto currencies will be a side market for risk takers.  

I hope you guess right.
Let us know when you and your wife decide to cash out her public school pension and replace the dollars with Ethereum. Then we'll know you've convinced her of its validity.

tTy wrote:

Watch Out Pylon! wrote:

Weird. I think the same think with most of your posts.

This is not a personal attack, Pylon, so don't be a bitch. Dude is either trying to scare people away from the cryptos or just plain doesn't understand them (compared to alternatives, ie: stocks, bonds, ETF's, mutual funds, and etc)

I understand that you bought into this insanely volatile platform after just two weeks of hearing about it. And then you discredit a Forbes article after reading four paragraphs.

Excuse me if I put zero stock into anything you say.

Ty
I understand the love for silver, gold and alternative currencies but cmon ..
You are smarter than this. Diversify
Putting your entire net worth in a PM is crazy.
That silver trade has sucked a wiener for almost a year now.
If you are into technical trading you'd agree its "broken".

BTC and ETH at all time highs (again).... 1900 and 100 respectively....

Silver is a manipulated PM, extremely heavily leveraged with paper, it will explode at some point. I just don't know when.

Silver follow gold. Gold is inversely related to the USD/JPY via HFT algos and nothing more. There is no supply/demand price discovery in either metal, and both are EXTREMELY undervalued right now. That is not debatable.

What IS debatable, is that almost every other asset class on the planet is likely overbought right now.

I was thinking of putting our families entire nest egg in silver.
Is this a good idea ?
Appreciate your feedback. You have a good rack record the last year
TIA

FatFingers wrote:I was thinking of putting our families entire nest egg in silver.
Is this a good idea ?
Appreciate your feedback. You have a good rack record the last year
TIA

My man. Lumping everything in one commodity is massively risky. I'm assuming you're betting against the government? There are plenty of other options than just silver if you want to guard against a market correction.

http://www.investopedia.com/articles/younginvestors/08/bear-market.asp

Watch Out Pylon! wrote:

FatFingers wrote:I was thinking of putting our families entire nest egg in silver.
Is this a good idea ?
Appreciate your feedback. You have a good rack record the last year
TIA

My man. Lumping everything in one commodity is massively risky. I'm assuming you're betting against the government? There are plenty of other options than just silver if you want to guard against a market correction.

http://www.investopedia.com/articles/younginvestors/08/bear-market.asp

FYI, he is just trying to fuck with me brah.

Also, my "silver trade" isn't a "trade", it is a long term hold, as in decades...

Also, BTC a CH from 2K per

ETH flirting with 130 per

tTy wrote:Also, BTC a CH from 2K per

ETH flirting with 130 per

FUCK, I wish I had balls. I only bought .5 ETH yesterday at $95, guess that gives me 2 ETH though now. ETH makes zero sense though, you can't buy anything with it.

tTy wrote:

Watch Out Pylon! wrote:

My man. Lumping everything in one commodity is massively risky. I'm assuming you're betting against the government? There are plenty of other options than just silver if you want to guard against a market correction.

http://www.investopedia.com/articles/younginvestors/08/bear-market.asp

FYI, he is just trying to fuck with me brah.

Also, my "silver trade" isn't a "trade", it is a long term hold, as in decades...

I honestly can't tell when people are fucking around or being serious half of the time on this board.

Watch Out Pylon! wrote:

tTy wrote:

FYI, he is just trying to fuck with me brah.

Also, my "silver trade" isn't a "trade", it is a long term hold, as in decades...

I honestly can't tell when people are fucking around or being serious half of the time on this board.

Two posts before this = lame attempt to ridicule my investment strategery.... While I agree that, in a normal free trading market, being super concentrated in a single investment as I am = not good strategy, there are no "normal free trading markets" out there right now.  98% of stock prices these days are dictated by HFT algos hooked up to data inputs that mean zero with regard to actual value of a company.  Take a look at a graph of the S&P500 and lay it over top of a graph of the USD/JPY.  They trade tick for tick, but have zero to do with one another.  The USD/JPY is a major input into a lot of the HFT algos out there and the computers are basically dictating US equity prices now.  Not only that, but Central Banks are now rigging the inputs to these algos.  IE: they are now goosing the USD/JPY at their whim.  Whatever way they want the US equity markets go, they just have to control the algo inputs = control the USD/JPY.

Also, gold is inversely related to the USD/JPY.  And Silver follows gold, for the most part, but silver is also fradulently manipulated (as is gold) to an even greater extent via the COMEX and GLOBEX's ability to sell short the metal without owning it.  They can write infinite 5000 ounce contracts and "sell them" to anyone willing to purchase them without even owning an ounce of physical metal to back it up.  JPM has lost money on ONE SINGLE TRADING DAY in silver in the last, like, five years... Hell, maybe more.  This market (silver) is the most fraudulently manipulated financial market ever on the face of the planet.  One day, it will break.  I don't know if I will live to see it.  OR, it could happen all at once in one chaotic event on Monday.  Nobody knows when it will end, but there are a lot of people out there that KNOW it will, and it will end with a ramp up on the silver price by a factor of 20+...

This guy can esplain it a lot better than I (hat tip to www.tfmetalsreport.com - there are some pics and graphs and shit in here that I'm not going to bother copying over.):

++++++++++++++++++++++

Econ 101 -- Silver Market Manipulation
By Turd Ferguson | Monday, April 3, 2017 at 11:48 am

Some say that everything you need to know you learned in kindergarten. I suppose that's true to some extent. However, to fully understand the forces at play in Comex Digital Metal, it might be good to review some of the basic economics that are often taught in introductory Econ classes at your local college or university.

Let's start with a chart. It doesn't really matter which one and, in fact, I just chose this one at random. Below is a one-week chart of the stock of Coca-Cola. Note that KO had some ups and downs last week but was mostly sideways in a price range.

And why was the price of KO shares moving sideways? At the most basic level, there were equal amounts of buyers and sellers in a period of fixed supply. Therefore, an equilibrium was reached and price was stable around $42.45/share. In your standard college economics class, it looks like this. Price is discovered where supply meets demand:

But you see that's not how it works on the Comex. There is never a period of fixed supply of futures contracts as The Banks issue and retire open interest on a daily basis. Complicating matters is the completely untethered nature of contract creation. Banks never have to deposit physical metal as collateral in order to sell paper metal short so they have the nearly unlimited ability to create as many contracts as they feel necessary.

What this leaves is a "market" where both the supply of the product (the Comex silver futures contract) and the demand for the product fluctuate on a daily basis. And with The Banks limitless ability to create new contracts, they're able to issue new contracts to meet demand whenever there is a spike in buying interest from speculators.

So now let's look at another stock from last week. Below is a chart of Amazon. Note the price rally over just five days. And why did price rise? Frankly, I have no idea of the fundamental cause of the rally. What I do know is this, however. Given that the amount of shares in the market for Amazon didn't change last week (supply), another chart from Econ 101 above explains the price rally. Increased demand for shares while the quantity of shares is held constant means that price has to rise to the point where current holders of shares were willing to part with them.

OK, are we all on the same page so far? Good. Let's continue.

Below is a chart of Comex Digital Silver that shows the price changes over the past week. Note that it looks a lot like the chart of Coca-Cola. Price appears to be stable and centered around the $18.20 level. At first glance, you might assume that therefore we have equal amounts of buyers and sellers. In a sense we do...but with one critical difference:

And what is that "critical difference"? For the answer, we turn back to Econ 101 and what we learned about supply and demand. Recall that when supply is held constant, changes to demand are reflected in a higher or lower price. However, in the case of Comex Digital Silver, the supply is not held constant. Instead and as noted above, the "market-making" Bullion Banks have the nearly unlimited ability to create additional supply of Comex contracts on a daily basis. The chart below again shows the price changes of Comex Digital Silver for last week. However, be sure to note the additional information provided. If increased demand is met with an equal increase in supply, price remains the same.

So we're left with the question: How much higher would price have risen just last week if the supply of contracts had been held constant? Would the chart for Comex Digital Silver look more like the chart of Amazon rather than the chart of Coca-Cola?

(It's important to note, too, that this is where the fraud comes in and this is why we maintain that Comex pricing is a completely illegitimate process for discovering the price of physical silver (or gold). The sellers of the new contracts (The Banks) are "selling" silver that they don't have and making a promise to deliver metal to a buyer (the Speculator) who has no intention of taking physical delivery. So what we have here is simply have a parlor game and a battle of liquidity where the winner is determined by who has deeper pockets and is thus capable of withstanding price fluctuations and margin calls.)

In creating and selling to Specs those 23,713 contracts last week, The Banks essentially minted new obligations to deliver 118,565,000 ounces of silver to the Spec buyers of these contracts. That's about 14% of the silver that the entire world will produce in 2017. Was any silver placed on deposit with the exchange as collateral for these new obligations or did The Banks simply create them from whole cloth through cash and leverage? Below are the CME Silver Stocks reports from Monday and Friday of last week. Note that the amount of silver held in the vaults actually declined over the week from 191.5MM ounces to 190.2MM ounces.

It's at about this point in the conversation where The Cartel Shills and Apologists jump in and claim that all of this new open interest is only being provided by benevolent and altruistic Bullion Banks, which simply provide necessary hedging services for their mining company customers. The Banks make no directional bets: https://www.benzinga.com/media/cnbc/12/04/2478161/jp-morgan-commodities-chief-blythe-masters-denies-firm-manipulates-precious

But there are a few, common sense holes in this defense theory:

   The total size of the silver producer hedge book is historically low, as you'd expect with prices barely above the all-in, break even cost of production for most miners.
   And we're supposed to believe that, en masse, the global silver producers combined to hedge 14% of global mine supply in just the past five days?
   And what about gold? With the April17 contract coming off the board last week, total open interest in Comex Digital Gold fell by nearly 10% or 45,471 contracts and is back near 2017 lows. Are we supposed to believe that ONLY silver miners are now actively hedging and selling forward their future production?

Obviously, this idea that The Banks simply "make markets" and "perform services" for their clients is utterly bunk and requires no additional discussion.

What does require one final bit of discussion is the notion of price change over time. While a handful of fundamental factors do play a small role in determining price over time, the notion that physical supply and demand somehow effect price change on an intraday or daily basis is simply outdated and naive. Two great articles were recently posted which detail how it's the paper derivative markets which set price in the 21st century and not the physical markets. Though both articles deal with gold, the same notions apply to silver and, in fact, the leverage in the supply of silver derivatives exceeds gold, making the situation even worse.

   https://www.bullionstar.com/blogs/bullionstar/what-sets-the-gold-price-is-it-the-paper-market-or-physical-market/
   https://srsroccoreport.com/record-10-trillion-paper-gold-trading-market-continues-to-depress-price/

Turning back to Econ 101 allows us an explanation of how price is managed lower over time through the limitless creation (supply) of these paper derivative contracts.

Let's pick some random dates back in the spring of 2011. Back then, price was screaming higher as demand for the Comex silver derivative was soaring. What was the total open interest of Comex silver in that period? See below:

January 18, 2011  ---- Total Comex Silver open interest 135,675 contracts

February 22, 2011 --- 145,070 contracts

March 15, 2011 ---134,914 contracts

April 26, 2011 --- 143,341 contracts

You may recall that, over the same time period, the price of Comex Digital Silver rose from $28 to $48. And note that the supply of the Comex derivative contract was mostly constant. Again, see this chart:

Let's compare this to the available supply of Comex silver derivatives in 2017. With a total open interest of 216,372 contracts, you're supposed to believe that this supply increase of over 50% is somehow related to increased hedging by mining companies and others who wish to sell forward their future production. Really? A more logical explanation is that manipulative Bullion Banks are greatly increasing the amount of derivative supply in an effort to contain price at these lower levels. How does that work? One more chart from Econ 101. As you can see, if you can increase supply faster than the increase in demand, price falls. And again, where are we in 2017? The paper derivative price is down 60% from the 2011 highs while supply of the derivative is up 50% over the same time period.

So finally, the conclusions that you should draw from all of this:

   Obviously, The Banks are still active in managing price through the issuance of paper metal contracts. They sell these obligations to speculators in enough supply as to dampen the upward price pressure that would have resulted from supply being held constant.
   Contrary to popular belief, it is most definitely not the supply and demand of physical metals which determines "price". Instead, the trading and daily supply/demand of the paper derivative contract is what determines the physical price. The physical market is then contorted by The Bullion Banks, which manage the wholesale flow of physical metal in order to legitimize this digitally-derived price.
   It's not impossible for the paper price to rise...it's just that certain conditions must be met. Either of two things must happen: a) Speculator demand for the paper derivative must exceed The Banks willingness/ability to supply new derivative contracts OR b) Banks must be forced to maintain a limited supply of paper contracts in the market. Perhaps the ability of The Banks to create new contracts must be tethered to a proven and readily-available amount of silver on deposit at the exchange?

I hope this helps you to understand the forces that are aligned against you as a silver investor. However, do not despair. No fraud can last indefinitely and no institution built upon a foundation of lies and deceit can stand the test of time. Instead, the day is coming where true physical price discovery will again prevail in the precious metals. What will that price be? I have no idea but I'm quite certain that it won't be $125o/oz for gold and/or $18.25/oz for silver. Therefore and as always...

Prepare accordingly,

TF

www.tfmetalsreport.com/subscribe

----------------------------------------------------------------------------------------------------------------------------------------------------

April 17, 2017 update:

As of last Thursday, total Comex silver open interest has now risen to a new alltime high of 227,498 contracts. This exceeds the previous alltime high of 224,540 seen on August 2 of last year and, as a reference, this is fully 50% higher than the common open interest totals back during the fun years of 2010 and 2011.

Additionally, At 227,948 contracts, total Comex silver OI represents 1,139,740,000 ounces of virtual "silver". The ENTIRE world only produces about 880,000,000 ounces per year so total Comex OI now represents 129% of global mine supply.

As you can see, over the course of April, no additional silver has been placed into the Comex vaults as collateral for the new Bank or "commercial" shorts that have been created. Instead, this is nothing but a hyper-leveraged game of "chicken" where The Banks feel confident that their unlimited liquidity can outlast the Specs taking the other side of the trade.

And here's your updated price with OI chart. As you can see, over the past month, the commercials (Comex "Bullion" Banks) have created 38,392 new Comex silver contracts. Therefore, by increasing the total supply of derivative contracts by over 20%, The Banks have managed to contain the total price rise in Comex Digital silver to just 9.5%.

It should also be noted that this increase of 38,392 contracts represents the creation of 191,960,000 ounces of virtual/digital silver. Again, The Shills and Apologists will claim that "this is simply producer hedging" or that all is fine because "there's a levered long for every levered short". But how is any of this relatable to the physical price of silver when derivatives representing 20% of total annual mine supply can simply be conjured up from thin air and supplied to money managers and traders as "exposure". Trading in these derivative contracts are no more related to physical silver than is trading of sunflower seeds or baseball cards.

This is nonsense. It's fraudulent in nature which makes it criminal activity. And it's a pricing scheme that simply must end.

TF

Ethereum = 147 now.

ETH = 158

Prolly should sell some and buy back later, but I won't.

BTC = 2323
ETH = 183

'course, nobody gives a fuck yet still.  LMAO at you all..... Can not believe you sit there and don't fucking care one fucking bit.

If anyone wants to learn how to buy this stuff, pm me. I won't talk shit out of school. It's easy. It is like the internet in terms of making payment and setting up contracts. You will be sorry if you don't at least dabble in this and begin learning. For you old fuckers out there, this is the "internet" when we didn't even know what e-mail was. This will not go away, it will only grow in our lifetime and getting in now will ease the coming stock market crash. The mother of all stock market crashes.... yes, it is coming.

#HI

I've mentioned multiple times I've bought bitcoin in the past and have a couple etherium. I got spooked when bitcoin got back to 1000 and sold what little I had, going it was going back to 600.

Bitcoin is rocketing upwards.  Now past $2700.

Pessimist in me remembers the silver collapse in '80-'81

https://www.yahoo.com/news/bitcoin-blows-past-2-500-104600620.html