Current Events > Ethereum blockchain facing potential collapse due to bloat

(+) Yeah! (+)

https://cointelegraph.com/news/ethereum-blockchain-bloat-could-reach-1tb-in-2017

@Tekutso

Exactly like I said a few weeks ago.

Can it be resolved?
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If it gets back to 200 or so I'm all in mother fuckers.
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Oh shoot. Its at 400? It was barely 350 yesterday. Shits spiking fast.

Ive got 2.

Ill pay close attention to the day and probably pull out. I got in on a gamble, no use in trying to push it. I remember the first time bitcoin peaked it crashed shortly after. Still expensive, but a fraction of the peak >~>
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good that's what ppl get 4 gambling instead of investing in a retirement account like a responsible adult

right and after the crash It'll go back up again, that's why you hold and don't cash out.

What the fuck do any of those words mean?
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__Cam__ posted...

What the fuck do any of those words mean?

nobody knows, that's why it's just gambling

We need to find out what the next coin to spike will be after Etherium crashes.

It's time to stop being left off the money train.

CharlesBronson posted...

__Cam__ posted...

What the fuck do any of those words mean?

nobody knows, that's why it's just gambling

Back in the day you could literally just mine the coins, instead of buying them. The dudes who mined cashed out without sacrificing anything.

Who could have ever guessed that a cryptocurrency with the word Ether in it would be a bubble.
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COVxy posted...

Who could have ever guessed that a cryptocurrency with the word Ether in it would be a bubble.

It sounds like something you can mine in world of Warcraft
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TheMikh posted...

Can it be resolved?

They are working on it. There's a coin called Stratis that already has a solution, but it remains to be seen whether or not it's actually scaleable. Right now no coin has proven that it can scale, so if they don't find a solution asap then Ethereum is fucked.

I'm actually working on my own blockchain. One that is designed with scaleability in mind from the ground up.

Can I short it or no lol
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people who say its "gambling" wouldn't know how to read a stock chart anyways....very uninformed.

to them, two two doji stars in a row is just "luck"
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COVxy posted...

Who could have ever guessed that a cryptocurrency with the word Ether in it would be a bubble.

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I wouldn't worry too much about that right now.
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https://www.youtube.com/watch?v=DgRLlqEvOT8

ITT same salt lords who made fun of that guy who posted when it was 150$ a few weeks ago. If we had all put in at that time (which if you did a bit of research on Ether it was a good idea at that specific time) we all would have doubled the investment. Feels, terrible, man.
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IllegalAlien posted...

ITT same salt lords who made fun of that guy who posted when it was 150$ a few weeks ago. If we had all put in at that time (which if you did a bit of research on Ether it was a good idea at that specific time) we all would have doubled the investment. Feels, terrible, man.

I've already made decent money off of Ethereum, but I'm moving it to other cryptocurrency. There are cryptocurrencies that are worth a few dollars or a few cents each right now, but in the future they'll be worth 10x or 100x more.

IllegalAlien posted...

ITT same salt lords who made fun of that guy who posted when it was 150$ a few weeks ago. If we had all put in at that time (which if you did a bit of research on Ether it was a good idea at that specific time) we all would have doubled the investment. Feels, terrible, man.

You honestly think it's a smart decision to invest in these volatile cryptocurrencies? Or are you just looking in retrospect with current knowledge, feeling like it's a good idea because you know the current price and you knew the previous price? Seems like "salt" is what's driving you to think it's a good idea, actually.

Because it seems to me that investing money in something as unstable and terrifyingly meaningless as a cryptocurrency wouldn't be worth the anxiety of everyday checking the prices, riding it out, hoping I don't let it ride for too long until it inevitably pops.
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QuantumScript posted...

IllegalAlien posted...

ITT same salt lords who made fun of that guy who posted when it was 150$ a few weeks ago. If we had all put in at that time (which if you did a bit of research on Ether it was a good idea at that specific time) we all would have doubled the investment. Feels, terrible, man.

I've already made decent money off of Ethereum, but I'm moving it to other cryptocurrency. There are cryptocurrencies that are worth a few dollars or a few cents each right now, but in the future they'll be worth 10x or 100x more.

I know you're not supposed to reveal your secrets but...

<_<;
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COVxy posted...

IllegalAlien posted...

ITT same salt lords who made fun of that guy who posted when it was 150$ a few weeks ago. If we had all put in at that time (which if you did a bit of research on Ether it was a good idea at that specific time) we all would have doubled the investment. Feels, terrible, man.

You honestly think it's a smart decision to invest in these volatile cryptocurrencies? Or are you just looking in retrospect with current knowledge, feeling like it's a good idea because you know the current price and you knew the previous price? Seems like "salt" is what's driving you to think it's a good idea, actually.

Because it seems to me that investing money in something as unstable and terrifyingly meaningless as a cryptocurrency wouldn't be worth the anxiety of everyday checking the prices, riding it out, hoping I don't let it ride for too long until it inevitably pops.

It was a good idea at that time since the spike is due to big companies like Microsoft backing the tech. Pretty much undeniably a good investment at that time.

Ether isn't only a crypocurrency, which is why it has value. Do a little bit of googling and you'll see. Not worth it at the current price, if it tanks back to 200 I'll dump a good chunk of money in.
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COVxy posted...

IllegalAlien posted...

ITT same salt lords who made fun of that guy who posted when it was 150$ a few weeks ago. If we had all put in at that time (which if you did a bit of research on Ether it was a good idea at that specific time) we all would have doubled the investment. Feels, terrible, man.

You honestly think it's a smart decision to invest in these volatile cryptocurrencies? Or are you just looking in retrospect with current knowledge, feeling like it's a good idea because you know the current price and you knew the previous price? Seems like "salt" is what's driving you to think it's a good idea, actually.

Because it seems to me that investing money in something as unstable and terrifyingly meaningless as a cryptocurrency wouldn't be worth the anxiety of everyday checking the prices, riding it out, hoping I don't let it ride for too long until it inevitably pops.

there is no anxiety if you invest only what you're ok to lose which is what smart people do.

1) Stratis, Siacoin, Ripple, Golem, and DigiByte are coins that I'm looking at right now

2) If you invest what you can afford to lose, you'll be fine

3) If you invest into hardware and mine enough to get your money back, you'll be able to mine for literally no cost besides the electricity and some time.

4) Not all cryptocurrencies are scams or stupid. Some are based on some really amazing technology. Ethereum is too, but they should've placed more emphasis on scaleability during its early development. Golem, Stratis, Siacoin, Ripple, and others are really cool.

QuantumScript posted...

1) Stratis, Siacoin, Ripple, Golem, and DigiByte are coins that I'm looking at right now

2) If you invest what you can afford to lose, you'll be fine

3) If you invest into hardware and mine enough to get your money back, you'll be able to mine for literally no cost besides the electricity and some time.

4) Not all cryptocurrencies are scams or stupid. Some are based on some really amazing technology. Ethereum is too, but they should've placed more emphasis on scaleability during its early development. Golem, Stratis, Siacoin, Ripple, and others are really cool.

I might look into some of those (and LiteCoin). Meant to jump on Ether the other week, but complications with the sites held me off and then other things came up.
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I really don't think LiteCoin is going anywhere
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So here we are.

Dump Eth and take what you can get?

Or keep Eth and see where it goes?
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Does this mean that if a new user wanted to get a wallet they would have to download a 180 GB file?

Or am I misunderstanding how the block chain works?
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Anteaterking posted...

Does this mean that if a new user wanted to get a wallet they would have to download a 180 GB file?

Or am I misunderstanding how the block chain works?

Nah. All you need for a wallet are a public and private key. The block chain is a massive record of every transaction ever.

CapnMuffin posted...

So here we are.

Dump Eth and take what you can get?

Or keep Eth and see where it goes?

Hold on to Eth for a while, but be prepared to jump ship if the blockchain approaches 500GB with no signs of improvements.

Anteaterking posted...

Does this mean that if a new user wanted to get a wallet they would have to download a 180 GB file?

Or am I misunderstanding how the block chain works?

Pretty sure you need to sync the blockchain if you want to be able to send transactions to/from your wallet.

__Cam__ posted...

What the fuck do any of those words mean?

I'ts all part of the newest fantasy game where one is a troll trying to get rich quick. There is a lot of lore.
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Lmao you said the same thing a week or 2 ago. Talk to me in a month when ETH is $900 per bud.
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holy shit, why are there so many salty peeps around cryptocurrencies?
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Tekutso posted...

Lmao you said the same thing a week or 2 ago. Talk to me in a month when ETH is $900 per bud.

Well ETH was a 100 when he made the topic now it's 400 lol
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Medussa posted...

holy shit, why are there so many salty peeps around cryptocurrencies?

it's a coping mechanism from the fact that they missed the opportunity of making thousands of dollars in a few days
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Damn it's already $400

My $120 turned into $4800


Feel bad selling more than of my postion though could have been more than $13000, or should have put in way more
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twitterfriends posted...

Damn it's already $400

My $120 turned into $4800


Feel bad selling more than of my postion though could have been more than $13000, or should have put in way more

Everyone that gets in will regret not getting in sooner. Now is still a decent time to get in.

$500 at ETH pre sale is now $800,000. That's in less than 3 years time.

FightingGames posted...

Medussa posted...

holy shit, why are there so many salty peeps around cryptocurrencies?

it's a coping mechanism from the fact that they missed the opportunity of making thousands of dollars in a few days

100%
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@Tekutso

Why aren't you buying Ethereum Classic?

The real money to be made is in buying mining hardware, having the hardware pay itself off really quickly, and then using the mining hardware to mine all kinds of altcoins that are going to go up in value.

It's hard to find the parts now, though. Everything is sold out everywhere. But whoever got in when parts were plentiful are now making a bank each and every month once the hardware pays for itself.

QuantumScript posted...

The real money to be made is in buying mining hardware, having the hardware pay itself off really quickly, and then using the mining hardware to mine all kinds of altcoins that are going to go up in value.

It's hard to find the parts now, though. Everything is sold out everywhere. But whoever got in when parts were plentiful are now making a bank each and every month once the hardware pays for itself.

you say this, but only 2 of the 5 coins you mentioned earlier are mineable. and i'm not sure siacoin is worth it, comparing it's numbers in my pool of choice to eth's. any other, mineable coins you're interested in?

also, thanks for pointing out Golem to me. if I was a more competent programmer, it looks like what I would have attempted with the technology.
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You can mine for coins that are mineable and then trade them for the coins that are not. Also, some coins that are Proof of Stake use a different validation mechanism, so it's not quite mining but you can still "earn" them through hardware. I think Stratis is one.

Forgot to mention Ethereum Classic. I think Ethereum Classic has potential, especially if they solve the scaleability issue first. It has fundamentally the same value and power as Ethereum, so I'd expect it to go up. In fact, soon I'll be switching my mining hardware from ETH mining to ETC mining.

Golem is also very fucking cool. If it works, it'll be a world-class supercomputer that can outperform anything else.

How hard is it to convert the coins into actual physical cash?
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PoopPotato posted...

How hard is it to convert the coins into actual physical cash?

Sometimes it's hard, because the tools are still new. So they don't always perform so well. If you catch the tools at a good time, you can convert everything to cash within a few minutes.

But most exchanges that I'm aware of limit how much cryptocurrency you can trade for cash, and how much cash you can withdraw. For example, some only let you withdraw $15,000 a week or sell of X amount per week.

QuantumScript posted...

1) Stratis, Siacoin, Ripple, Golem, and DigiByte are coins that I'm looking at right now

What information are you using to determine that these are the possible up and coming coinage?
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BlazinBlue88 posted...

QuantumScript posted...

1) Stratis, Siacoin, Ripple, Golem, and DigiByte are coins that I'm looking at right now

What information are you using to determine that these are the possible up and coming coinage?

1) Whitepapers
2) Researching the team to see who is leading and who is developing
3) Researching who has invested (any companies? any banks? any venture capitalists?)
4) And most importantly, looking at whether or not I believe in the underlying technology

Take Golem, for example - the aim is to create a world-scale supercomputer that you can use for very little cost, if you want to get answers to complex physics or mathematics simulations, etc. That's really fucking cool, and it's shaping up to work. It's got a lot of development to go (they've got a seven year timeline) but I believe in it or something like it. So I'm going to put some mining time into it.

I wouldn't buy it except with money generated by my mining hardware. I treat the hardware as a hedge against volatility, inflation, etc. If cryptocurrencies crash across the board and I only ever invested cash into it, I can lose my cash. Whereas with hardware, I'll still have the hardware.

If Ethereum crashes because the blockchain issues aren't resolved, I'll sleep perfectly fine at night because I know I have my mining rigs up and ready to mine any other mineable currency that I want. And there are great alternatives right now.

QuantumScript posted...

BlazinBlue88 posted...

QuantumScript posted...

1) Stratis, Siacoin, Ripple, Golem, and DigiByte are coins that I'm looking at right now

What information are you using to determine that these are the possible up and coming coinage?

1) Whitepapers
2) Researching the team to see who is leading and who is developing
3) Researching who has invested (any companies? any banks? any venture capitalists?)
4) And most importantly, looking at whether or not I believe in the underlying technology

Take Golem, for example - the aim is to create a world-scale supercomputer that you can use for very little cost, if you want to get answers to complex physics or mathematics simulations, etc. That's really fucking cool, and it's shaping up to work. It's got a lot of development to go (they've got a seven year timeline) but I believe in it or something like it. So I'm going to put some mining time into it.

I wouldn't buy it except with money generated by my mining hardware. I treat the hardware as a hedge against volatility, inflation, etc. If cryptocurrencies crash across the board and I only ever invested cash into it, I can lose my cash. Whereas with hardware, I'll still have the hardware.

If Ethereum crashes because the blockchain issues aren't resolved, I'll sleep perfectly fine at night because I know I have my mining rigs up and ready to mine any other mineable currency that I want. And there are great alternatives right now.

Interesting. What site do/will you use to buy these coins? Obviously I know Coinbase is legit but they only sell the 3 main coins. Looks like you need to buy them with BTC/ETH?
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TC 3 years from now: "Eth is overpriced at $25,000 a coin, it will collapse any day now."

BlazinBlue88 posted...

QuantumScript posted...

BlazinBlue88 posted...

QuantumScript posted...

1) Stratis, Siacoin, Ripple, Golem, and DigiByte are coins that I'm looking at right now

What information are you using to determine that these are the possible up and coming coinage?

1) Whitepapers
2) Researching the team to see who is leading and who is developing
3) Researching who has invested (any companies? any banks? any venture capitalists?)
4) And most importantly, looking at whether or not I believe in the underlying technology

Take Golem, for example - the aim is to create a world-scale supercomputer that you can use for very little cost, if you want to get answers to complex physics or mathematics simulations, etc. That's really fucking cool, and it's shaping up to work. It's got a lot of development to go (they've got a seven year timeline) but I believe in it or something like it. So I'm going to put some mining time into it.

I wouldn't buy it except with money generated by my mining hardware. I treat the hardware as a hedge against volatility, inflation, etc. If cryptocurrencies crash across the board and I only ever invested cash into it, I can lose my cash. Whereas with hardware, I'll still have the hardware.

If Ethereum crashes because the blockchain issues aren't resolved, I'll sleep perfectly fine at night because I know I have my mining rigs up and ready to mine any other mineable currency that I want. And there are great alternatives right now.

Interesting. What site do/will you use to buy these coins? Obviously I know Coinbase is legit but they only sell the 3 main coins. Looks like you need to buy them with BTC/ETH?

Coinbase for the main coins, shapeshift to convert them to other coins. Might make an account on Poloniex and Bittrex as well.