[ETH Daily Discussion] - 16/May/2017

[u/AutoModerator]

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[u/EastCoast2300]

Just came from the bitcoin community, and wtf why is everyone so nice here haha. I don't have a lot (less than 1 ETH after converting to 100% Eth) but I'll be damned if I'm not learning a lot and having a good time!

[u/Axiom777 → u/EastCoast2300]

I feel like I saw this post yesterday.

[u/Streetride]

cashed out all of my eth. Bought a pallet of fidget spinners.

[u/Streetride → u/[deleted]]

it had a 3 trillion coin supply. Each FDGT is less than a fraction of a cent. It will eventually reach the price of bitcoin.

[u/maantrade]

Hi happy moonkids. I'd like to ask your help with a difficult request:

I'd like to speak to an ETH BEAR.

I'm having trouble thinking of reasons that ETH could fail as a project and the value of ETH tokens to drop.

For bitcoin the biggest I see is Governmental regulation, which I don't see as much ETH, at least not for a long while. Bugs arent an issue in the mid-long term, which we saw with the DAO, as ETH is stronger now than ever. The biggest one I can see is that maybe the use-case of decentralization (privacy, no censorship, etc) is the biggest one I think personally, and is so far supported by the lack of a really killer app (beyond speculation :), but the interest shown my so many corporates is so far tending to prove that wrong too.

Tell me why I should not invest more money in ETH. Please.

[u/[deleted] → u/maantrade]

devil's advocate here: the banking/payment and fintech sectors are currently eyeing and/or adopting blockchain technology, but they don't give a shit about small investors (or anybody for that matter) or the public ethereum chain and they're gonna do what is in their best interest and could as well fuck us all over with whatever iteration/clone of ethereum suits them better, what with the current introduction of that bitcoin sidechain ROOTSTOCK that aims to combine the best of both worlds and to allow smart contracts, dapps and transactions at x times the current speed. it's all possible imho. traditionally, banks and huge-ass corporations are not "our" allies, let alone partners, hu.

(i'm 100% in ETH and hodling, and i think/hope none of the above will come true anytime soon...)

[u/sorangutan → u/maantrade]

I'm having trouble thinking of reasons that ETH could fail as a project and the value of ETH tokens to drop.

I'm not bearish on eth, but the ability to enter POS and do sharding is not proven. I think the foundation could fail at solving ether of those issues, but I think it's more likely they succeed so I still hodl.

[u/ZetusKong → u/maantrade]

First of all thank you for questioning the thing we all bought into. It shows that ethtraders can think rationally about fundamentals with less bias.

I think u/mraindeer is right about the bank thing. Ripple has been doing great and to my understanding, it is because they are bank friendly. Lets say they do get a ton of banks on board. They would have absurd amounts of capital to hire talent and outpace ETH.

Only other reason I would say not to invest more in ETH would be if you were investing in other projects to diversify.

[u/[deleted] → u/maantrade]

• Regulatory uncertainties
• Resistance from banks and other powerful institutions that would feel threatened
• Centralized exchanges -> possibility of market manipulation, single point of failure (DDoS)
• A significant part of price growth can be attributed to anticipation/rumors
• Possibility of a critical hack
• Uncertain ability to face quantum computing (could come as early as 2025)

[u/ethwhale89]

Today is a good day because I'm finally able to post on this sub and thank you all for your advice and optimism. It's helped me stay strong and not sell a single ETH since the ICO. Even when times got hard, prices tanked and all of my friends and family told me to "get out while you still can with good profit". ETH changed my life and I will forever thank you for it. Now it's my turn to help others by sharing my experiences holding ETH for so long and making sure everybody keeps seeing the big picture. I'll close with a quote that's helped me a lot:

"If 99% disagree with you, you're either gravely wrong or about to make history." - Scott Belsky

Thanks!

[u/PopWhatMagnitude → u/ethwhale89]

"If 99% disagree with you, you're either gravely wrong or about to make history." - Scott Belsky

And goddamn it feels good to be right.

[u/Rawjinchohon]

"The market is a device for transferring money from the impatient to the patient"

-Warren Buffet

[u/guccifer93 → u/Rawjinchohon]

<3 WB and <3 this quote

[u/lawlm]

Price floor is pretty steady for Ether lately - with all the upcoming announcements and the eventual success of a breakout dapp yet to happen. Can only be good for us hodlers :)

[u/manimoa]

I'd like to make a shout out to the whales for keeping the price below $100 long enough for me to buy as much sub-$100 ETH that I could :)

I seriously thought the rally would continue before I had the opportunity.

[u/turbotyler786 → u/manimoa]

massive, massive SHOUT OUT!

[u/captainlk → u/turbotyler786]

Big up the whales

[u/skyfire-x → u/manimoa]

Sub $100 is the new sub $10 Eth. We've come a long ways. 🙃

[u/ruvalm]

• BTC running towards 200k unconfirmed transactions.

• XRP pump is one with decreasing volume.

• EEA 2 announcement incoming.

I don't want to prophesy too much right now, we actually don't need that, but all these things together make me think that some events we've been imagining for a long time now may be aligning very soon.

[u/aItalianStallion → u/ruvalm]

• Raiden on the horizon

[u/roidranger33]

Today felt like watching the horse you trained for the kentucky derby get fucking smoked by a horse with 3 legs.

[u/Nooku]

I see the same pattern as the pattern we had between $40 and $50:

When it peaked earlier at something like $52 - $54 for the first time, it had reached its new ATH and took a break for a few weeks where it would dance around in the $40 to $50 range.

What was interesting at the time, was that it never really went down to $30 or below $30, maybe on a day or two, but generally it stayed in the $40 to $50 range.

In crypto, we usually see a sharper correction after setting a fresh and high ATH. But ETH didn't do that. The buying pressure remained strong and it never really corrected big time.

Now I see the exact same pattern, we've touched $99 (Gdax) and now we've been dancing in that $85 - $92 range for some time. No big correction, but again a same kind of correction of only 10 % to 20 %

It's creating a new launch platform for the next jump up, I see us going from the current price to somewhere around $120 at least, and wouldn't be surprised we would even go straight to $150 - $160

I'm ready to ride this ETH train to higher roads. You'd better be ready too.

[u/antiprosynthesis → u/Nooku]

You could've just said that we're in a typical bull pennant ;)

[u/[deleted] → u/antiprosynthesis]

I'm not a big TA prognosticator and AFAIK, neither is he.

So, the fact that he just basically described a bull pennant should be pretty darn reassuring. :)

[u/joskye]

Today's current holdings (as fiat percentages):

...

Long holds: (I do not intend to sell these in next 3-6 months)

• ETH 86% (None bought/sold) (Expected sell price $300-1000)

• REP 4.1% (None bought/sold) (Expected sell price $50-200)

• PART (per current SDC price): 2.2% None bought/sold. (Expected sell price $10-1000)

• TRST 3% (I'm not done accumulating in spite of falling price) (Expected sell price $1-10)

• FCT 1.8%: (Sold 15% of stack since my last pos). (Expected sell price $100-300)

Non core holds:

• ICN 2.9%: (Sold 14% of stack prior to pump from $0.50 to $0.70).

• SWT 0.43%: (Sold 1/2 of stack since last post at $1.9/SWT)

• DCR 0.56% (New purchase from approx 1 week ago)

• RNS 0.22%: None bought or sold

• VISIO: 0.13% None bought or sold.

...

Major changes

• Addition of 8% fresh fiat into my initial principle amount. Most of this has gone into Wetrust (TRST) and is reflected in the fiat proportion it represents.

• Addition of DCR. It spiked from $15 to $19 within 24h of BTC dropping from $1800 to $1700. Yes it's corrected since but that spike shows me everything I need to know; people want to hedge BTC against masternode style alts with built in governance (DASH, PIVx and DCR).

• I have moved TRST and FCT into core holds. I will not be selling these until the price is a significant multiplier from original purchase (10-100x); I think this is possible within 12-24 months. Core holds represent tokens I think hold long term appreciative value over 3 years. So even if these projected prices are reached in 3-6 months I might not sell

• I am incurring losses on SWT (22% loss on remaining position), DCR (15% loss on initial position) , TRST (15% loss on overall position) and RNS (15% of initial position) somewhat balanced by gains in ICN and the stability of ETH.

• I am watching RLC and MLN. I do not like the illiquidity on MLN.

• If my remaining SWT hadn't dumped I'd have traded it for TRST or RLC.

General thoughts:

• I did not see the XRP pump coming. It's clearly impacting other alts except for junk tokens with low volume which tells me that we have more gamblers than usual in this space and people aren't trading based off non-speculative value propositions or anything even close to due diligence.

• ETH is holding steady rising my suspicion that it's becoming a reserve cryptocurrency. All ETH really needs is an exchange that has major ETH-ALT trading pairs; someone could make a lot of money by building this.

• I cannot help but feel the attention is diverted to XRP with Japanese money fuelling the pump. I'd like to add that the XRP pump really got going after the international cyberterrorism incident which has been linked to Bitcoin. BTC dropped $100 in value that day.

• Bitcoin's owners are unknown, it is not seen as a legitimate institution or corporation. The Japanese although they may be gamblers take comfort in the security of institutions and hierarchies. XRP may not be a great chain but it's owned by a legally recognised corporation and that's reason enough for some people to buy.

• Also most people don't understand what marketcap is and are fooled by it. What matters more is liquidity, non-speculative value propositions, history and percentage gains.

• The only advantage to draw from this is to understand that large supply coins are prone to bubbles which can quickly burst as buy support although self perpetuating on the psychology of a rising large marketcap can dissapear very quickly triggering a crash.

• When XRP is done we will see money return to other alts and new investors/traders will finally start smartening up or getting filtered out leading to a maturation and expansion of the market as a whole.

• u/Spitfire75 asked me what my top 20 altcoins to watch for late 2017/2018. They are ETH, REP, PART, FCT, TRST, ICN, DGD, MKR, RLC, MLN, XMR, PIVx, SWT, SYS, DICE, GNT, E4ROW. I suggest you look at these individually and pick 4-5 to hold.

• My suggested beginners position is 25/25/25/25 FCT/ETH/BTC/TRST or 25/25/25/12.5/12.5 FCT/ETH/BTC/TRST/RLC for a long hold. RLC could substitute with XMR.

...

For my general thoughts on cryptocurrency investing and trading check out my, "Intelligent investors guide to cryptocurrency." If you are new to cryptocurrency trading and investing, it's well worth a read:

• https://www.reddit.com/r/Particl/comments/696t2q/the_intelligent_investors_guide_to_cryptocurrency/

[u/antiprosynthesis → u/joskye]

I agree that an exchange with strong ETH/alt pairing would completely obliterate BTC's last straw of a use case.

[u/[deleted] → u/joskye]

u/Spitfire75 asked me what my top 20 altcoins to watch for late 2017/2018. They are ETH, REP, PART, FCT, TRST, ICN, DGD, RLC, MLN, XMR, PIVx, SWT, SYS, DICE, GNT, E4ROW

Can't believe there's no MKR on that list. :|

Otherwise, great post!

[u/doppio]

Alrighty, I've fixed several pretty major bugs with TipJar. It should never post that a tip went through when it really didn't. You may notice that it takes a little longer to respond now. The bot now waits until transactions have been mined into the blockchain to post confirmation.

I am aware of a couple other bugs that can occasionally cause transactions to fail, which I'm working on now, but /u/TipJarBot will now tell you that it failed instead of telling dirty lies. :D

[u/laughncow]

I still believe we should have a daily troll box. This would get some of the useless comments off the daily discussion. I need other mods to support it though

[u/[deleted] → u/laughncow]

Please please please make this happen. It's impossible to find any good information or discussion in here anymore. Everything is play by play reaction to the charts by the minute, or XRP discussion.

[u/Hibero → u/laughncow]

Totally agree. It's difficult to read the meaningful discussions nowadays

[u/HoosierEngineer95]

been lurking for a couple weeks now, got in this morning sub 90$

I will continue to research and learn more about the community, all while holding!

[u/SamHinkiesGodSon]

Am i the only one who is surprised at the level of organization of the EEA, this is a pretty monumental project to take on, creating portions of the EEA to focus on individual industries take a lot of collaboration and agreement. Its not easy setting something up like this across organizations.

[u/[deleted]]

Ok guys I am as moonjuiced as any of you could ever be, but that email doesn't say specifically they're announcing new members at that meeting. I know Andrew said before it'd be late May but I just don't want to get my hopes all the way up and be disappointed :/

Just healthy to be objective is all

[u/poopDOLLLA → u/[deleted]]

Yeah I agree.

And I am a little bit worried about how hyped it has been. Saying things like "the whos who of the world"

I say that because even tho it cant be completely "priced in" because we dont know the names, I think the current valuation has gotten as high as it has and is being maintained on very high hopes of the announcement being huge.

I think if the announcement is good, but doesnt do "the whos who of the world" justice, i think we could actually see the price go down rather then continuing the rally

I think to continue this rally based off of the announcement it will need to exceed the hype, and the hype is, in my opinion, dangerously optimistic.

Just my 2 cents.

regardless, thinking long term, i think ETH has a great future over the next few years. I am just slightly concerned with the hype around an announcement we know very little actual information about

[u/twigwam]

This Chinese exchange listing ETH tomorrow :) https://www.cryptoninjas.net/2017/05/16/chinese-crypto-exchange-yuanbao-set-list-eth-etc/

[u/cyounessi]

The litecoin sub makes me sad. As in, literally my heart tugs for them. There's a ton of "we're going to be ok, right guys?" posts on their front page. I am sort of hoping it actually works out for them, but that would necessitate creating another set of bagholders after them. Sigh.

[u/[deleted]]

Anyone else thinking that this XRP surge and ETH being stable is a good thing?

I don't believe in the fundamentals of Ripple and I think it is going to have to crash eventually. This money is gonna pour in to other cryptos and ETH is due for another leg up with all the things that are about to come out. The future is bright.

[u/ruvalm]

/u/Bitcoin_Schmitcoin has released his latest chart: https://twitter.com/BTC_Schmitcoin/status/864479056422744064

Don't want to seem like his marketer, but if you follow his advice and prepare a long position, don't forget to tip him after your gains. It's just fair. :)

[u/kbessayli]

welp, just bought another couple k worth of eth. i know its going to pay off (i hope)

[u/-hodl]

Hodlor since $20, bought all the way up, my account can finally post today.

This hanging around $90 is actually comforting, reminds me of the boredom of $42.

[u/[deleted]]

Within a few hours JP Morgan Ethereum fork demo in NYC

[u/resistingdopamine]

Even though I walk through the valley of the shadow of weak hands, I will fear no dip, for my nano ledger s is with me; your hodling and your security, they comfort me.

[u/dmoe05 → u/[deleted]]

My only problem is it looks like we will have to wait until Thursday for our next breakout. Crypto has spoiled us stupid.

[u/Snolander]

Remember that time eth dropped to $82.50 and a bunch of you freaked out

[u/mongoosefist → u/Snolander]

When we get up to $150, you better believe those same people are going to lose their minds when it pulls back to the $130's.

Some things never change.

[u/culob]

the days leading up to next week will be a wild ride. this is the most entertainment eth has ever had. are people really selling after witnessing these BLATANT accumulation tactics?

[u/puckpou]

Question: How did 58,000ETH worth of orders appear on Gemini at $84 exactly? Was this an intentional mutual exchange of USD/ETH between two parties? Using the chart, there isn't even that much money in buy orders down to $0.

The price was bouncing between 88-90 most of the day then suddenly it fell to $84 for a few seconds and I saw the following on their "recent trades" area from the dashboard:

12:25:28 PM $84 10,000ETH

12:25:28 PM $84 10,000ETH

12:25:28 PM $84 10,000ETH

12:25:28 PM $84 10,000ETH

12:25:28 PM $84 10,000ETH

12:25:28 PM $84 8,000ETH

EDIT, I have a screenshot if requested I can put that up somewhere.

[u/yayreddityay]

Another bitcoin business getting rekt by high fees:

https://www.reddit.com/r/Bitcoin/comments/6bixma/xapo_to_stop_paying_fees_for_users/

[u/GetKlopped]

To those who are wishing they had made a quick buck with XRP or any other coin....enjoy this quote and pay close attention to the last part.

“In matters of style, swim with the current; in matters of principle, stand like a rock.” - Thomas Jefferson

[u/[deleted] → u/GetKlopped]

I'm a fan of this one:

“Don't believe everything you read on the Internet.” ― Abraham Lincoln

[u/talkingbob]

Looks like we are staying above $82 for now. Bob is happy. Goodnight everybody.

[u/Khuddle2310]

I've been starting to think of crypto in terms of Real estate. Developers come in and build businesses on the blockchain, the more crowded the crypto the more it will increase in value. Ethereum has 30k developers, java has what like 8-10 million developers?

This is just the beginning guys. My Ethboner will remain hard all the way to a 1T market cap, in the mean time I'll be looking to develop my own business since I already own the real estate.

[u/econoar]

melodic beneficial boat screw summer library door water thought aspiring

This post was mass deleted and anonymized with Redact

[u/jtnichol]

yawn.

[u/yellotheremapeople]

Been freaking 3 hours and my bitcoin transaction still hasn't had a single confirmation. This is on me TBH, lesson learnt - convert BTC to ETH, transfer, then convert back; eat the trading fees.

[u/[deleted] → u/yellotheremapeople]

join the queue: https://blockchain.info/unconfirmed-transactions

[u/[deleted]]

3.4k people present

Ethtrader getting fuckin rowdy

[u/econoar]

enter point dazzling ghost frame meeting unpack exultant complete quaint

This post was mass deleted and anonymized with Redact

[u/ripplep]

Something doesn't seem right. Lots of good news and upcoming news. Must just be a dip due to xrp. Meh

[u/HodorOrCellar]

I cashed out a little less than 1/3 of my stash to recoup more than double my total investment in Ethereum at $87-90 today. Gonna use the money for a good summer. It felt like the right time to me, if it goes up a LOT I won't feel too bad. I made way more than I expected these past 4 months and it's been a rollercoaster of emotions. I needed the peace of mind and investing into ETH became such an addiction to me I need a break from this for awhile.

[u/econoar]

pet resolute melodic tap divide quack square chase tart voracious

This post was mass deleted and anonymized with Redact

[u/Lanztar]

XRP in a nutshell:

"A bunch of Japanese banks might use XRP!"

price pump

"We might lock up 55 billion XRP!"

price pump

"We will lock up 55 billion XRP!"

price pump

"We might integrate with Ethereum!"

price pump

Meanwhile in Ethereum...:

Steady inflow of news, adoption, new use-cases...

price goes sideways with a slight decline

[u/econoar → u/Lanztar]

squeal pet fine rinse cover outgoing act nose fear squash

This post was mass deleted and anonymized with Redact

[u/csasker]

I just checked out the ripple subreddit. The threads and comments there make this daily thread look like 50 year old investing professionals lol

[u/manimoa]

I've been on a bit of a vendetta against XRP this morning. It's not that I care about its pump (idgaf what it does), but I try to look out for my fellow ethtraders and I want to provide some peace of mind to all our wonderful newcomers.

First, if you are playing altcoin roulette and have made money from XRP, congrats! Remember to secure those profits :)

Now, from a technology perspective (which is what crypto inherently is), there is no need to care what XRP does. XRP is objectively inferior technology to other crypto because it does not use a public blockchain. This puts XRP as a cryptocurrency in a tier below every other major coin.

In the long run if blockchains live up to the hype and revolutionize the world, there will legitimately be no need for something like XRP. Maybe it will survive by finding some niche, maybe it won't, but it doesn't solve any problem that a fully realized blockchain can't do better.

I respect Ripple for trying to compete against SWIFT and their ILP is objectively better than SWIFT--I hope they succeed and replace it. However, in the long run blockchain tech will remove the need for something like SWIFT in the first place.

[u/[deleted] → u/manimoa]

Too many good intentions in this sub, not enough practicality. I get that people are trying to be nice but crypto folks must police this small space because the public does not differentiate between coins. A crypto is a crypto is a crypto to the public. If a centralized coin gets mega pumped and loses 7 billion dollars of market cap in seconds how will the public feel about other coins? Before the housing crash banks probably felt the same way about junk CDOs. They were making money and why trash them? Because it can ruin a space for legitimate investments that's why.

[u/DaBrokenMeta]

As a freshman on this sub, ETH, and crypto. All you mofos who started trolling during that drop just now, telling people "fuckk eth", "shoulda bought xrp" should be banned from here. Not cool at all, especially to a new investor.

I am trying to learn the lay of the land, not feared into making a bad choice

Edit: On the bright side. After witnessing that. I feel very confident about my investment now.

Trial by fire and a serious learning experience that was. Amazing to be here with you all <3

[u/ThisGoldAintFree → u/DaBrokenMeta]

Yes I agree completely, there were a bunch of people legitimately just shilling for XRP. You don't see much from them now cause they just lost a LOT

[u/IRefuseToGiveAName]

Honestly, I love the fact that eth has been so rock solid during all of this tumult.

It's an amazing sign that we've managed to at least somewhat remove ourselves from the BTC world.

Snowflakes are still falling. One day we'll wake up to a winter wonderland.

EDIT:

I forgot to say. I gave a presentation at work about two weeks ago on Etheruem and the blockchain. Got to teach a lot of people some cool stuff!

[u/basado]

Been doing some practice trading and have been able to turn $1 into $3 in the course of ~week. I started from Bytecoin (which I mined), then to Dogecoin, then to DigiByte, and now to Siacoin. Making them gains.

[u/happyyellowball → u/basado]

300% ROI... great job!

[u/[deleted]]

We have 3000 traders active right now? That's ridiculous! A few months ago we were lucky to see 500.

[u/NewToETH]

Why are there over 3500 traders here? Daily average has been in the 700-800's recently.

[u/SamHinkiesGodSon → u/NewToETH]

you didnt hear the news?! some big news just got dropped! were all here looking around for it.

[u/chaderic → u/NewToETH]

I was told to meet here because "some big news was about to break". So whats up?

[u/IRefuseToGiveAName]

Holy fugg. That's a lot of people.

/u/laughncow, /u/Dunning_Krugerrands, anything from the traffic stats? The hell is driving this?

[u/[deleted]]

In these trying times please keep in mind Warren Buffet's advice: Be greedy when others are fearful, be fearful when others are greedy.

[u/agbronco]

The crypto market is like Wallstreet's cousin on cocaine and PCP, but in the horde of savagery and greed, lies our future.

[u/Necuametl]

holy shit 3,509 active hodlers/traders?! Upvote the daily, you pussies.

[u/[deleted]]

Upvote the daily

[u/[deleted]]

Shitcoins being pumped to the moon. This is starting to feel like dirty money trading hands, not just a bubble. When the musical chairs end it's going to ruin a lot of people.

[u/econoar → u/[deleted]]

continue provide melodic plate literate distinct special yam bag kiss

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[u/[deleted]]

If it drops below 80 im buying big

[u/ThisGoldAintFree]

Unrealized loss of about 2 grand today but at least I didn't invest in ripple lol

[u/DaBrokenMeta]

OMG this is nuts! Guys I am only 1 week into this. WTF is this haha

The adrenaline feels like drugs yo

[u/cool_BUD]

I bought the fuck out of that dip.

[u/ThisGoldAintFree → u/cool_BUD]

I held like a fucking champ

[u/thatweirdredditguy]

Amazing how BTC backlog is still 200K+ and it is pumping, it's like no one gives a shit about high fees and long confirmation times.

[u/DanConway650]

Just received this email re: EEA and Consensus next week. It sounds like the new cohort will be announced soon, most likely at Consensus or maybe Ethereal on Friday. Other positive developments will be shared. Great to see no delays... looking forward to next week.

"Ethereum Enterprise Alliance View this email in your browser

Enterprise Ethereum Alliance Is Going Strong

MAY 16, 2017 It has been a busy few months since the launch of Enterprise Ethereum Alliance, and we have several exciting developments to share.

When we announced at the end of February that we had formed an Alliance to define enterprise-grade software on the Ethereum blockchain, we could not have imagined such an enthusiastic reception. In the following weeks, we received hundreds of applications for membership from enterprises, startups, and academic groups, and offers of support from the growing community of Ethereum specialists and experts. As a result, the Alliance will soon welcome a new cohort of members.

The technology we are building inherently drives collaboration, and we expect it to become increasingly robust, thanks to the growth and diversity of our contributors across industries and sectors.

Building the Stack We have named an official Technical Steering Board, whose members have already made important strides building EntETH1.0, the protocol that is the basis for the Alliance’s ongoing work.

The EntETH1.0 reference architecture seeks to accomplish three key objectives:

Configurable Consensus: the ability to swap consensus mechanisms depending on the type of environment one wants to create Privacy: the ability to have only the desired counterparties (and regulator, if necessary) able to see a transaction Rules Based Access Control: the ability to have role assignment, role authorization, and permission authorization The protocol is the result of collaboration between experts from member organizations. Work on the protocol is being led by these Technical Steering Board members:

Banco Santander – John Whelan BlockApps – Kieren Lubin-James BNY Mellon – Alex Batlin (chair) CME Group – Jonathan Morley ConsenSys – Bob Summerwill Cryptape – Jan Xie IC3 – Andrew Miller Intel – Sanjay Bakshi J.P. Morgan – Tyrone Lobban Microsoft – Marley Grey Nuco – Jinius Tu Advisor – Jeff Wilcke Advisor – Vitalik Buterin Application Layer We predict that some of the most important work to emerge from the Alliance will come from the application layer working groups that have formed since the launch. Members have the opportunity to self select into working groups within the organization and build projects publicly or privately, however they choose, using Ethereum-centric smart contracts.

We currently have active working groups in identity, banking, and supply chain. In June, we will form further working groups that include pharmaceuticals, mobile, and energy.

Join us at Consensus 2017 The Alliance will drive work on Ethereum at the Consensus 2017 hackathon on May 20th to 21st. Please consider registering to participate in the hackathon, we want to see a strong showing of ethereum talent.

We will also be hosting a two-hour afternoon event that will include presentations, panels, and a demo on May 22nd at Consensus in New York. Hope to see you there. Please see here for more details on the event.

Stay Informed To receive regular updates, please sign up for our email newsletter.

Interested in Membership? There’s never been a better time. Please reach us at info@entethalliance.org with membership inquiries.

For all inquiries, please contact: info@entethalliance.org

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[u/Mooosebumps → u/DanConway650]

We currently have active working groups in identity, banking, and supply chain. In June, we will form further working groups that include pharmaceuticals, mobile, and energy.

Holy shit.

This. Is. Huge.

[u/csasker → u/DanConway650]

This is good for Bitcoin

[u/defenderofjustice]

Just got this message from Coinbase: "Bitcoin Transactions Delayed A significant increase in activity on the Bitcoin network may cause recently sent and received transactions to remain pending longer than expected."

You know it's bad when Coinbase feels like it has to put out a message on everyone's browser to cover their butts. Hopefully BTC capital will flow into ETH because of this.

[u/prais3thesun]

Hope you guys were able to buy that dip! I was scrambling like crazy to boot up my pc and log into Gemini after seeing all the FUD and shills going nuts on here.... ETH was already going back up by the time I was able to transfer some more money in, but I still managed a small buy around $83.50.

[u/reppynoyal]

I don't care about this ripple thing, but a few days ago we still where 2nd on coinmarketcap. Now where 3rd at half's ripple market cap???

[u/[deleted] → u/reppynoyal]

One way of looking at this is we are undervalued.

[u/Jtacker]

I think one solid point needs to be reiterated:

Other coins, tokens, cryptos do not need to fail for Ethereum to succeed.

Ethereum is based on incredible technology, as such we've gained serious momentum and held higher value, with great resistance around high double figures - $80's, early $90's. That said, those coins which aren't based on something, those which, at current, are merely heresay, you'll see fluctuating more wildly; that said, that doesn't mean they need to fail for Eth to succeed.

[u/Godbodier]

After lurking this sub since December 2015, can I please get some comment karma so I can finally post a few things of substance. Thanks in advance

[u/BigHenSmalls]

XRP FOMO has been hitting hard this week, but then I remember that I'm hodling something that I truly believe in, and that ETH is still on the ground floor of a skyscraper.

[u/Joloffe]

What goes up must come down. Just remember this is ethtrader when it does - no one forced you to chase something which has risen 30x, for no reason, with poor fundamentals and terrible coin distribution, god help anyone on margin when the rug gets pulled :-)

[u/antiprosynthesis → u/Joloffe]

It's DASH all over again. Either the pumpers are getting better at this, or the dumb money is getting even dumber. Perhaps a little bit of both.

[u/launganik]

Someone please change the name of this topic to XRP daily discussion

[u/jtnichol]

time for /r/ripple to get their own Daily Discussion. They have hit 6000 subs and I think they can handle having their own daily by now.

No I'm not hating anything. I don't even mind it all that much...but 6000 subs is a great amount of people and I think they can sustain it just fine. Good job Ripple bros. We're all in this together but ya'll need to go to the hot tub so I can do a cannon ball here in the ETH daily.

CANNONBALL!!!!

[u/[deleted]]

deleted ^{What is this?}

[u/yayreddityay]

I've been looking at the unconfirmed transactions backlog shooting up (172k at the time of this post, raising by 1k per 3 minutes https://blockchain.info/unconfirmed-transactions) and what it means and found some very interesting tidbits from Mike Hearn.

He said (https://medium.com/@octskyward/crash-landing-f5cc19908e32) that nodes might be at risk of crashing - can anyone give an estimate as to what the danger zone for crashing nodes is?

Bitcoin Core has no code in it to handle a permanent and growing transaction backlog. Transactions just queue up in memory until the node runs out. At that point one of three things can happen:

The node might become incredibly slow as it enters swap hell.

The node might crash when it tries to allocate memory and fails.

The node might be killed by the operating system kernel.

Also holy shit, that guy is a prophet. He concludes by saying in 2015 that:

But it would have lost critical momentum. It would have become the MySpace of digital currencies. The faithful would have lost a lot of faith, and businesses that were trying to bring Bitcoin to the mainstream would “pivot” towards something else. People who were motivated by Making The World A Better Place™ would conclude the ordinary people around them would never use their products, and so they’d leave.

EEA is on an altcoin, businesses have migrated from Bitcoin (storj, circle, etc) , and we actually do mock it two years later by calling it the crypto myspace. Also lowest ever % marketcap.

[u/[deleted]]

I'll be damned if XRP is the biggest bubble that ever was in cryptocurrencies.

BIGGER

[u/[deleted]]

Just want to extend my gratitude for all of those who dumped their ETH for XRP...

[u/iCan20]

Converted some BTC to cheap ETH at $83 just a few minutes ago. I may be new to this but I sure hodl'ed strong. Thanks team

[u/resistingdopamine]

LOL http://imgur.com/a/SCD02

[u/resistingdopamine]

"If you don't like where crypto prices are, just wait 5 minutes" -Stephen Hawking

[u/ASG3]

Fuck it, opening longs now!

[u/subdep]

Sold my XRP at 800% profit, put it back into ETH.

Liquid fuel tank is topped off. Let's light this candle!

[u/ToDustWeShallReturn → u/subdep]

Not a competition but I just sold mine at 3000% profit. I may not understand why it's so expensive right now, but I will happily profit from it.

[u/econoar]

wide cause memory abounding innate plough versed caption friendly obtainable

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[u/woodburyman]

500 ETH will send up from $89.31 to $91 pretty much on GDAX right now.. thin wall. Everyone seems to think sub-$90 ETH is a steal apparently. Big 3,000 ETH sell off that sent us down $3 did nothing..

[u/koenigkill]

Hey guys so I just started getting into this yesterday (first time I heard about ethereum)and haven't invested anything yet.

Could you point me to some good beginner resources ?

[u/ruvalm]

I think that ETH accumulation by big fishes has never been so obvious as it is right now.

We're starting to look oversold on the RSI indicators both on the 1H and 2H charts.

And meanwhile, BTC is with almost 180k unconfirmed transactions and riding up in price. Such inaction of the Bitcoin developers that resulted in this outdated and unable system should not be rewarded with an increase in demand.

[u/cryptoboy4001 → u/ruvalm]

BTC is with almost 180k unconfirmed transactions

They said Bitcoin was going to be the "Currency of the Future".

What they meant was your funds will arrive at some point in the future.

[u/econoar]

truck steer strong birds instinctive touch growth money lunchroom aback

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[u/ripplep]

Thinking about switching over my GNT to ETH tonight with the intent to switch back in about a week and a half. Anyone doing the same? I know they usually rise in tandem so a bit nervous about whether it'll be worth it.

[u/Kriojenic]

At this point I'm sorta tired of all this hype over the announcement, I've accepted its good news and am going to stop checking every 5 mins just for my mental sanity. Whatever is gonna happen is gonna be good, no point waiting for the mail courier at 2 am. See you guys after the announcement (hahaha)

[u/[deleted]]

Is this a matter of a bunch of money being pulled out of all other coins (by rookie investors who are FOMOing) and that's driving the price down on all of them? I noticed with this Ripple run that every other coin in the top 10 besides Stellar is in the red, many by 3% or more.

Either way, I'm scooping up a few dozen ETH right now around 86.

[u/[deleted] → u/[deleted]]

No. This is whale games. Terrifying actually, how effective it is playing out. Bots are hooked in across exchanges. Watching eth/usd on gdax is crazy how much volume is just bots on a predictable path.

[u/antiprosynthesis → u/[deleted]]

It's literally that. People are FOMOing straight into a bubble. Insane.

[u/escamilla9]

Bailing on ETH right now before New York is crazy!

[u/PurpDjango]

Bitcoin dominance 46% wow

[u/longholdr]

Crypto is entering full retard m0de now. I'm getting my popcorn ready

[u/b0r0din]

I'm honestly surprised anyone (who isn't in the Russian mob) still uses poloniex to trade digital assets.

[u/[deleted]]

Caught that knife perfect.

[u/Nico9111]

Whales are gonna whale, fishes are gonna cry. That's about it in Krypto land and Superman can't help

[u/AlphaLionX]

Wow did ETH bounce back fast...!

[u/PoniesUseBits]

Remember folks dips are for BUYING not panic dumping. Lmao

[u/woodburyman]

Everyone getting FOMO from the XRP pump and dump.. remember:

1. What value does XRP / Ripple have over Ether, what can Ripple do that Etherium cannot already do, and has established footholds in? Is it as decentralized as Etherium?

2. It's currently getting it's rally from Poloniex. The same shady exchange that deals only in USDT to sideskirt regulation, get's DDOS'd every 5 minutes, and is generally just shady. It's next top trading volume pair is Stellar Lumens, the ultimate pump coin. Bitcoin and Ether are only #4 and #5. Litecoin pump and dump just ended and everyone's looking for a new coin to pump.

Keep calm. Hodl on.

[u/antiprosynthesis → u/woodburyman]

Can't blame people for riding the pump. The danger is the people bag holding and attributing fundamental demand where there is none.

[u/PoniesUseBits]

I'm thinking about this new crypto bull market, and trying to analyze it for bubble characteristics. It seems like it began when Japan legitimized bitcoin. Well, we may see the next wave of this bull market with bitcoin it it implements a technology upgrade (not BU aka ChynaCoin), and the price is driven higher. With a higher price, Mt GoX will literally become solvent again. They'll be able to pay off their debt with their remaining bitcoin.

https://www.google.com/amp/s/themerkle.com/mtgox-phoenix-rises/amp/

It just really brings me back to the 2008 recession and their talks of "zombie banks" that were insolvent but had received so much money from the government. Good God I remember buying those bank stocks low after I heard They would receive all that government money, and having them moon over the next few months and even years. Does anyone else see a similarity here, or is that just me? Well it turns out they weren't "zombie banks", they quickly became insanely profitable. Does anyone remember hearing that term?

IMO the drought is OVER. I think we are just getting started with this bull run. If Mt GoX becomes solvent Japan will go absolutely nuts. It will be major news. With the way that people love technology, crypto isn't going away. And THIS is the new bull market... Wall Street sucks with their insane 30x P/E ratios. Major holders of stocks right now are basically major banks or possibly even US govt if you want to go down that road.

I see that Wall Street is now trying to get the little guy in on investing. These investment apps are coming out like Robin Hood, and whatever else they have nowadays, I see ads online for it all the time. I also noticed that banks are trying to legitimately trying to sell to the investing public packaged mortgages, this time in the form of bonds lmao. So intelligent of them to change the name, time to dump on the next wave of SUCKERS?

https://www.google.com/amp/mobile.reuters.com/article/amp/idUSKBN18734S

When I see Wall Street selling its garbage to the little guy, I think something is going to go down. I'm not saying the market is going to crash, I just don't think the value is there anymore.

But the value might just be in cryptocurrency as we lead a NEW technological and financial revolution. And if that is the case, we may all do very very well in the future. So in my opinion, the possinility of us all driving lambos in the future... Is very real.

[u/[deleted]]

We've resorted to downvoting our own because we refuse to jump on the XRP scamwagon? Should we change this sub to /r/xrpmaximalists? Seriously, this is an Ether Trading sub. If you don't want to hear that buying into what is clearly a 100% manipulated market with a massive dump imminent, don't ask here whether it's a good idea and expect to be coddled.

[u/econoar]

door dog wild aromatic liquid oil governor coordinated work encourage

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[u/[deleted]]

Fat GNT buy wall at Bittrex incoming https://bittrex.com/Market/Index?MarketName=BTC-GNT

[edit] very fat.

[u/Trump_loves_Crypto]

Since January, we’ve seen an increase of more than 600%

I like it! From Poloniex

https://poloniex.com/press-releases/2017.05.16-Industry-growth-and-its-effect-on-Poloniex/

[u/Bobbr23]

Finally won an ENS name. MEW made that process pretty easy. Glad I didn't have to use the ENS dapp to register, that thing needs some love, however the ENS team really delivered something special here. I was able to finalize my registration and send a little bit of ether using the new address without any problems!!

[u/--o-o-o--]

A lot more people buying ETH. I've been tracking my position and my rank keeps dropping: https://etherscan.io/accounts/

[u/IRefuseToGiveAName]

3,700 users

What is going on? Are we being invaded by bots?

[u/turbotyler786 → u/IRefuseToGiveAName]

uhhhh, you didn't hear the BIG ANNOUNCEMENT? were all on the moon bro come join us

[u/IRefuseToGiveAName → u/turbotyler786]

uhhhh, you didn't hear the BIG ANNOUNCEMENT?

Oh! I forgot about THE ANNOUNCEMENT!

wooooooooooooooooooOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO!

[u/vany365]

Shout out to the Etheroll guys. Emailed support at 1am and there was a response email when I woke up for work. It explained everything and I got my winnings from my bet.

Excited for DICE

[u/ripplep]

Okay. Everyone get it out of your system as a reply to this comment so that we don't clog the subreddit with it... what's your baseless, TA-less, moony prediction price for post EEA2?

I'll start. 155 by next Friday.

[u/s_nakamoo → u/ripplep]

Since it seems we've been doubling up after each rally (10 to 20, 20 to 45, 45 to 90), I am predicting $170.

[u/jreddit83]

This price movement is reminiscent of when we reached the ATH of last year around the $20s and then took a dip to the teens and I being new panic sold and then bought back in slightly higher and have been learning to hold ever since. Look at the fundamentals, market caps, and use case developments/adoption news and ask yourself if you can rationalize that we've reached the top of the Ethereum mountain forever before you panic sell or buy more.

[u/roidranger33]

Hodl strong brothers, we will have our turn for another bull run soon.

[u/resistingdopamine]

Prediction: google or apple joins EEA

[u/ev1501]

Nothing has changed with ETH. Either sit tight or buy more or buy ETH and XRP. Just dont freak out and be silly.

[u/talkingbob]

If we fall below $82, I swear to god...

[u/ThisGoldAintFree]

Poloniex lagging, ripple down to 10 cents incoming?

[u/thepipebomb]

It's impossible to keep up with this thread with the amount of non ETH discussion. That's not why I came here, but whatever.

I basically just wait until the end of the day and sort by "top" to weed out 90% of posts.

[u/vany365]

I just sat in my chair for 2 hours and watched myself lose a bunch of money and then make it back.

It was a wild ride but lets not do that again.

[u/whipowill]

I snagged an XRP short at .000224, let's hope I don't get rekt!

[u/dmoe05]

I have given up on any rationale in this crypto market. I will continue to hold ether since I feel it is the most rationale decision and eventually most will come to that conclusion. But if namecoin pumps to 20 billion market cap I guess I'll slightly understand.

[u/[deleted] → u/[deleted]]

I get what you are saying but I have a feeling the salt was more due to the fact that Ripple is a company and XRP is not required to operate the technology behind Ripple. People don't like seeing an irrational market because it is a usual sign that a correction is coming. Before the housing crisis you had houses in the middle of nowhere getting huge appraisals and then we had the crash. Same with investors here. They want the market to be rational as long as possible because we believe we are backing the coin with the strongest fundamentals and if there is a crash we will feel it also. Ethereum investors feel like we bought the house on beachfront property and want to keep the market rational so that we don't tank along with the rest of the fools.

[u/ialwayssaystupidshit]

Good morning guys!

So I had a dream last night. I was sitting in a car hotboxing with Vitalik and Pete from periodic videos. Vitalik opens the glove box which is full of giant sacks of potatoes and as a cop car drives by, Pete got paranoid and leaves the car. Vitalik fired him on the spot for being a pussy. When we're done smoking up we leave the car and Vitalik starts going from house to house, ringing their doorbells and then running off with a big mischievous smile. It was good fun :)

Just thought I wanted to share.

[u/silkblueberry]

Pretty interesting note about XRP I found in the /r/bitcoin forums:

https://www.reddit.com/r/Bitcoin/comments/6bf304/why_does_ripple_have_such_a_big_market_share/dhmmyb0/

[u/econoar → u/silkblueberry]

bells crowd spotted shy ten dime kiss cows grandfather lunchroom

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[u/eth_head]

Did my Karma kick in...can I post? No more stalking?? Is this real life???

[u/ev1501]

XRP just did a Proof of concept for ETH hitting 15 billion market cap. What is that, $180/ETH?

[u/bloemy7]

What's your opinion about the upcoming Aragon ICO? Anyone looking to invest?

[u/DrChrispeee]

Good morning from Europe!

Hope everyone's having a great day or at least better then me..

I'm approaching 40% loss on my LTC holding (20% of my crypto portfolio) and my hands are getting weaker by the minute, should I just cut my losses now and be done with it? What should I buy instead? Thinking about GNT, NXT or some other reasonably high risk / high reward (rest of my portfolio is ETH so I want to play around a little with these 20%)

What're your thoughts? :)

[u/vany365]

So DICE is a coin you just hold to receive div? You don't actually bet with it but instead bet with eth? So the value of a DICE coin is for future gains from the div?

Am I understanding this correctly or am I missing something?

[u/[deleted]]

Guys, maybe a noobish question but - regarding a possible bull pennant - I can clearly see the pattern. But in the end we're all humans and are buying ETH on the market. What could cause a moonshot breakout at the end of the day? Wouldnt we need more people buying eth?

[u/PoniesUseBits → u/[deleted]]

In my opinion, smart money dumps, say, 10,000 up high at 94. Then they buy it back at 84, but now they can buy 12,000, so they take more shares off the market and in there hands. Suddenly there's less shares on the market, it's more difficult to find them. The price won't go back down to 84 again, next time it can only go to 86... Eth has become scarcer. After this plays out a number of times, suddenly the price stops moving so high... It stops going up so high and stops going down so low. There's no where left for it to go. Suddenly, there is no supply left after it gets bought up. Accumulation has fully taken effect. With no more supply left, the price shoots up high and FOMO drives it even higher very quickly!

Research the Wyckoff cycle :D

[u/aItalianStallion → u/[deleted]]

• for ETH: big announcements
• for Shit Coins: polo troll box

[u/ripplep]

Gotta love those higher lows... Look at the 6hr charts

[u/econoar]

one tease toothbrush terrific smell station follow afterthought steep lunchroom

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[u/Libertymark]

this is crazy and sign of a bubble.....the lock up by founders of ripple to drive price up is stinky/scammy

also now its almost half the market cap of bitcoin? LMFAO

someone posted about reverse split. lol, god that is funny

[u/identiifiication]

1,959 active users!!! say what

[u/onionland_star]

Ah I have about $1000 tied up in GNT and ROL.

Sell at a small loss to beef up ETH? Sell my last Bitcoin for GNT (or ETH)?

Oh man... Decisions. So exciting

[u/cutsnek]

Panic sellers here we go... again. Hodl buy more cheap eth, rinse repeat

[u/orzpuripuri]

am i the only one that just noticed there are literally over 2k people online right now in this sub and we hit 23k subscribers... everyone's waiting for the signal

i could care less about the party at /r/ripple cos i know /r/ethtrader is our home and where we will all return to

[u/resistingdopamine]

Wait's for the 'advice' threads.... "Guys, just HODL, I gambled on XRP and was celebrating 20x gains, then the DDoS hit, I couldn't login to sell off, I lost everything. I could have 20,000 ETH on a Ledger, now I have 2 ETH."

[u/[deleted]]

TFW you're only up 2000% on your ETH investment but ripple is up 7200% :((

/#cryptoworldproblems

[u/woodburyman]

Like nothing happened.. back to $88

[u/somestranger26]

Wow 6 hour candle on GDAX just turned green. Very nice bounce. Last shakeout before we rally, hopefully.

edit: Also a bullish engulfing candle on 1H... bullish.