Bitcoins/Litecoins/Virtual Currencies

Any thoughts on the Ethereum ETFs?
a few just came out in Canada.

In Canada you get a thing called a Tax Free Savings Account. - You get $6000 a year in allowable contributions. Then they are sold it triggers ZERO capital gains and is 100% tax free.
You can buy most securities in this account. Hence the ETF question. - I am allergic to Tax.

This has been asked before in this thread. I think the consensus was, you'll probably make decent money on an ethereum ETF but you'd be better off just buying ethereum for several reasons.

James said:

READ IT AND WEEP, Ethereum is the greatest and Bitcoin is 2010s technology.

Truebit going to be a top 3 coin in 5 years.

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I was going to stay out of this thread as I somehow seem to generate a lot of hostility here for whatever reason, but since you pinged me:



You guys need to zoom out more often; and look at pairs that aren't USD. I've already been through the ETH drama before. (and no, I still don't regret selling my ETH for BTC) I pray Vitalik doesn't get hit by a bus because I wouldn't want you guys to lose your shirts.

Sia, my favorite alt, vastly outperformed ETH over the last year. Incidentally I do find the VET hype here rather ironic when it's a China originated coin. (not that I want to disparage China, but I would disparage VET)

Actually I sold the remainder of my ETH in June 2017, near the ATH, higher than the chart there. Selling my ETH then was the best crypto to crypto trade I ever did.

Unfortunately the 'flippening' nonsense at the time combined with the segwit controversy caused me a lot of concern that the weakened BTC would cause a lot of chaos and so I also bought some altcoins at the time that were my worst trades, (imagine losing literally 95% of the value of your trade vs BTC) so overall I didn't do that great. (but still up a bit I think) Now I just hodl

Torrid said:

View attachment 352970

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Yeah that's breaking the ATH this year, in case that isn't absolutely crystal clear by the chart. Do you not understand that Ethereum is literally the future of cryptocurrencies, that the entire cryptocurrency sector will revolve around scaling Ethereum, and that Bitcoin is now old and insufficient? You're going to lose a lot more money.

Rajaah said:

WTF is TrueBit? Did some reading, checked out the reddit, mostly found tons of people who don't know what it is either.

VET is something that I have hopes for long-term because it's different enough from Eth.

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Truebit is an off-chain oracle for computation. It allows smart contracts to be written in C/C++/whatever else can compile to web assembly, and acts as a black box that takes x,y,z inputs and f function and returns f(x,y,z) after a time. This circumvents the gas limit entirely and allows extremely secure, complex computations on chain -- the decentralized YouTube replacement will be using the shit out of Truebit. You need to read more about it, start with Vitalik's 2014 blog post about scaling Ethereum where he describes how off-chain oracles function: Scalability, Part 1: Building on Top

yeah, I'm not touching VET for the china connection either. Although I can appreciate the use case focus. much of the reason I lean on Eth over Btc.


I think both will stick around. I don't think its really going to be one or the other there. no real need to fight.

Is Flobee some kind of crypto boomer who thinks everyone should buy the crypto savings bonds and wait for it to appreciate instead of an active participant in the decentralized finance markets which are becoming massively disruptive to the status quo? Real fuckin complex thinker there, can't think about crypto strategies more complex than to just sit on it. Loser.

LachiusTZ said:

Flobee

On Stake | Ethereum Foundation Blog

blog.ethereum.org

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?

In a traditional proof-of-work blockchain, miners “vote” on which transactions came at what time with their CPU power, and the more CPU power you have the proportionately larger your influence is. In proof-of-stake, the system follows a similar but different paradigm: stakeholders vote with their dollars

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I don't really need to repeat myself beyond that. You can invest your money however you want but I am very confident that ETH is a centralized project that is literally creating (admittedly cool) financial toys. Bitcoin is the ONLY decentralized crypto asset. Its monetary policy removes all requirement for these complex financial instruments that everyone wants to recreate.

Guess what? If you do money right you don't need that garbage. If you think Bitcoin is "outdated" you legitimately have no clue what you're talking about. That being said, by all means buy what you want. There is a sucker in every trade.

If you think a distributed ledger running on a proof of work consensus is even a fraction of the usefulness of a distributed state machine running on proof of stake, you are indeed a sucker, crypto boomer, and an idiot on top of it. If you think Ethereum is centralized, it's because you have no idea what you're talking about, it's not even remotely close to true. Do you understand how much harder it is to control 51% of the market cap compared to controlling 51% of the hashpower? Literally a super basic concept that is eluding you for whatever reason.

Do better.

EDIT:

Tmac said:

I don’t see a, “But BTC has a first to market advantage” argument enough in here. This advantage is sometimes literally all it takes.

Then consider BTC has taken half the time to reach a $1T cap than it took Amazon.

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Ethereum is the first distributed state machine to market, which means it does everything Bitcoin does and a whole hell of a lot more. It will not take long for the retail sector to figure this out. Myspace was first to market.

Tmac said:

I don’t see a, “But BTC has a first to market advantage” argument enough in here. This advantage is sometimes literally all it takes.

Then consider BTC has taken half the time to reach a $1T cap than it took Amazon.

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First market is a huge advantage typically. That's why those who aren't crypto-literate use "Bitcoin" as a synonym with "crypto", just like plenty of people still call any soda a "coke" or any copy from a copier a "Xerox."

That said, in the tech world first to market doesn't mean nearly as much as in trad markets. MySpace was first but Facebook won out. Yahoo was first but Google won out.

Bitcoin is no more credible than Dogecoin, as they're both more or less the same technology. We've had distributed ledgers at the forefront of the crypto space for over 10 years now, and all anyone could figure out what to do with them is make them into a store of value - literally sit on it and don't use it. Ethereum is the future, whether you like it or not.

James said:

Do you understand how much harder it is to control 51% of the market cap compared to controlling 51% of the hashpower?

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You have no idea what you're talking about.



Best ASIC miner currently - Antminer S19 Pro - $19,599.00

1 Antminer sS19 Pro - 110 TH/s = 0.00011 EH/s

So you'd need 1,510,454 S19 Pro's

Which is a buy in of $29,603,387,946. That of course assumes you could even find that much hashpower for sale which given current shortages you obviously couldn't.

Like I said, you don't know what you're talking about. Go back to shilling month old shit coins.

EDIT: Above point aside, I'm not interested in hurling ad hominem's with you. A year ago I would have agreed with you, I did more research, now I disagree. Maybe you'll do the same eventually, maybe you won't. Either way you get to invest how you want, and so do I. Results are the best judge so I guess we'll see.

You're a dumbass who obviously doesn't know you can rent hashpower at a fraction of the rate of owning. Or even anything about the 38.7% attack, I'm assuming.

Quoting me antminer prices like a fucking retard, here, come on.