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ETH hit 3K last night exactly 1 month since 2K. And now it's already up another 10% @ 3300. 

Eth is finally starting to realize the potential that many thought it could. In 2018, everyone was talking about smart contracts without any real examples. Now they have those examples in practice. If they can get the transaction fees down soon, and eventually move to PoS, they could be setting themselves up for big success. Maybe a higher market cap than BTC. 

What's really intriguing is that ETH could actually start burning more coins than it mints. BTC maximalists have long sneered at ETH as a never-ending supply, it's actually possible that ETH could put this in reverse and laugh at BTC for continuing to mint net new coins. 

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1 minute ago, Nice Guy Eddie said:

ETH hit 3K last night exactly 1 month since 2K. And now it's already up another 10% @ 3300. 

Eth is finally starting to realize the potential that many thought it could. In 2018, everyone was talking about smart contracts without any real examples. Now they have those examples in practice. If they can get the transaction fees down soon, and eventually move to PoS, they could be setting themselves up for big success. Maybe a higher market cap than BTC. 

What's really intriguing is that ETH could actually start burning more coins than it mints. BTC maximalists have long sneered at ETH as a never-ending supply, it's actually possible that ETH could put this in reverse and laugh at BTC for continuing to mint net new coins. 

I've always had my largest stake in ETH.  I think MATIC and DOT are nicely setting themselves up as facilitators of ETH being the dominant player instead of direct competitors.  Then again, I also own a little ADA, Algo, and ATOM, though smaller bags.  I had viewed 6-8K likely for ETH but with ETH2 and coinbase hopefully finally getting staking going, I think you'll see even more institutional demand and 10K may indeed be possible.  Fingers crossed.

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1 minute ago, Acropora said:

I've always had my largest stake in ETH.  I think MATIC and DOT are nicely setting themselves up as facilitators of ETH being the dominant player instead of direct competitors.  Then again, I also own a little ADA, Algo, and ATOM, though smaller bags.  I had viewed 6-8K likely for ETH but with ETH2 and coinbase hopefully finally getting staking going, I think you'll see even more institutional demand and 10K may indeed be possible.  Fingers crossed.

I'm still heavy in BTC but I wouldn't be crying if ETH surpassed it someday. Personally I think one succeeding is good for the other.

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16 minutes ago, Acropora said:

... I had viewed 6-8K likely for ETH but with ETH2 and coinbase hopefully finally getting staking going, ...

Coinbase (not CB Pro) currently allows staking of ETH.  You have to sign up for a waitlist first.  I did two days ago and got my notification email today that I could stake my ETH.  Onwards with the grand experiment...

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Just now, bernorange said:

Coinbase (not CB Pro) currently allows staking of ETH.  You have to sign up for a waitlist first.  I did two days ago and got my notification email today that I could stake my ETH.  Onwards with the grand experiment...

I signed up for the wait list  more then 2 months ago...smh.  

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Coinbase (not CB Pro) currently allows staking of ETH.  You have to sign up for a waitlist first.  I did two days ago and got my notification email today that I could stake my ETH.  Onwards with the grand experiment...

Please explain this to me. I’ve been absent from the scene, only keeping an eye on prices. What is staking?
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2 minutes ago, Acropora said:

I signed up for the wait list  more then 2 months ago...smh.  

Maybe you just missed the email.  When you log in to CB, click through to the ETH page and click the Overview tab.  If you can stake, you'll see a link there.

1 minute ago, nycHorn said:


Please explain this to me. I’ve been absent from the scene, only keeping an eye on prices. What is staking?

I have no idea what happens behind the curtains with staking but essentially (and the exact details differ with each available crypto), you release your crypto to the void and earn crypto back as interest daily, bi weekly or weekly depending upon the coin. 

For Etherium, staked coins are locked until some undetermined point in the future when the entire ETH network converts into ETH2.  If the conversion never happens or fails, you lose your stake.  Otherwise, you are earning ~6% APY of ETH2.

Coinbase allows you to stake a couple of other coins like ALGO without any waitlists or locking.  You can unstake at any time, but earn 5-6% in the meantime.

On the Kraken platform, you can earn ~12% with DOT (Polkadot) or even ~20% with whatever KAVA is.  Staked coins are locked for a couple of days before you can unstake them.

 

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9 minutes ago, ajax said:

... I'm going to wait for a dip before I increase my stake in ETH. Hopefully it doesn't run away from me.

I'm also waiting for a dip.  I've got some play money ready and waiting.  The last few weeks prior, there was a dip on Sundays, but that didn't really happen yesterday, so .... ???

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If the conversion never happens or fails, you lose your stake.  Otherwise, you are earning ~6% APY of ETH2.



Can you clarify this point? By “lose your stake” do you mean you lose all the coins you had staked? Or do you lose all the APY/interest/whatever other benefits come with said process, essentially putting you back where you started?
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4 minutes ago, SquishMitten said:

Can you clarify this point? By “lose your stake” do you mean you lose all the coins you had staked? Or do you lose all the APY/interest/whatever other benefits come with said process, essentially putting you back where you started?

Etherium stakes are locked until the network converts to Etherium2.  Staking rewards (interest/whatever) are awarded as ETH2 (added to your stake).  Both the initial stake and any rewards are locked until the ETH2 jubilee.  If the jubilee never comes, your ETH2 (all of it) stays locked forever.  If the ETH2 conversion fails, you own a bunch of ETH2 but there is no ETH2 network.

Seems risky, but there is something like $320B invested in ETH, so I'm guessing there are some pretty smart people working to make ETH2 a reality.  Staking ETH is really placing a bet that they are going to succeed in transitioning to ETH2. 

What little I've read about ETH2 is that it will essentially be on par tech wise with ADA/DOT/etc. but it has a far greater adoption right now, if ETH2 does come to pass, it will likely suck the life out of competing coins. 

The flip side is also possible - ETH2 succeeds, but takes too long and competitors saturate the innovation space that ETH2 is assumed to dominate.

For my part, I booked a ticket on the magical mystery digital tour (staked some ETH).

FYI, Etherium is the only coin that I'm aware of that locks the stake in this fashion.  You can stake and unstake every other coin that offers staking AFAIK.  Some might require a day or so of waiting before you can change the staking status.

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57 minutes ago, bernorange said:

Etherium stakes are locked until the network converts to Etherium2.  Staking rewards (interest/whatever) are awarded as ETH2 (added to your stake).  Both the initial stake and any rewards are locked until the ETH2 jubilee.  If the jubilee never comes, your ETH2 (all of it) stays locked forever.  If the ETH2 conversion fails, you own a bunch of ETH2 but there is no ETH2 network.

Seems risky, but there is something like $320B invested in ETH, so I'm guessing there are some pretty smart people working to make ETH2 a reality.  Staking ETH is really placing a bet that they are going to succeed in transitioning to ETH2. 

What little I've read about ETH2 is that it will essentially be on par tech wise with ADA/DOT/etc. but it has a far greater adoption right now, if ETH2 does come to pass, it will likely suck the life out of competing coins. 

The flip side is also possible - ETH2 succeeds, but takes too long and competitors saturate the innovation space that ETH2 is assumed to dominate.

For my part, I booked a ticket on the magical mystery digital tour (staked some ETH).

FYI, Etherium is the only coin that I'm aware of that locks the stake in this fashion.  You can stake and unstake every other coin that offers staking AFAIK.  Some might require a day or so of waiting before you can change the staking status.

The Eth foundation/developers are fairly committed to ETH2. Now if they change their mind about ETH2 or they fail in their attempt, I would assume they would re-integrate ETH2 staked coins back to the ETH network.

 

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Does anyone have an opinion on Telcoin? This is the last shitcoin holdover (not named BTC or ETH) from my 2016-2017 buying spree. I have a few hundred thousand coins and it’s languished in value as low as $20 when shit was bad.
But recently it’s popped and is worth about 2 grand. I dumped it in a software wallet Eidoo as a test a long time ago and it takes ETH to move it out.
Just curious if anyone knows the coin or has an opinion.

It’s still moving. Almost hit .025 overnight.
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Kraken is now offering staking for Cardano (ADA) with estimated rewards of 4-6% APY.  Not much compared to 12% for Polkadot (DOT), but better than 0% if you like Cardano.

I was waiting and waiting for Dogecoin to dip to buy some.  Still pissed at myself for not buying when it was $.09 and I was thinking about it but didn't act.  Anyway, I bought some yesterday on the mini-dip at $.53.  Wake up this morning and see it's up nearly 30%.  Lol.  Fucking Dogecoin.

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16 minutes ago, bernorange said:

Kraken is now offering staking for Cardano (ADA) with estimated rewards of 4-6% APY.  Not much compared to 12% for Polkadot (DOT), but better than 0% if you like Cardano.

I was waiting and waiting for Dogecoin to dip to buy some.  Still pissed at myself for not buying when it was $.09 and I was thinking about it but didn't act.  Anyway, I bought some yesterday on the mini-dip at $.53.  Wake up this morning and see it's up nearly 30%.  Lol.  Fucking Dogecoin.

FYI, Staking Cardano yourself is relatively easy. You do need to install the Daedalus wallet from Cardano and let the blockchain fully download.  And then delegate your coins for staking. This allows you to retain control of the coin keys but obviously that brings risk if you screw something up and/or lose your password or seed words.

I think this pays 4-5% right now but that can change.

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8 minutes ago, closetohumping said:

Odd.  ETC is at 95 on RH and 103 at Coinbase.  So, I bought a bit at RH

there's a rather large discrepancy in price for ETC (edit:  discrepancy across different exchanges). 

 

does anyone have an opinion on ETC vs ETH?  looks like ETC's finally getting swept up in the mania but is it sustainable? are the security risks overblown? is the finite supply of ETC vs the infinite supply of ETH a factor in favor of ETH?

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13 minutes ago, gsoda3 said:

there's a rather large discrepancy in price for ETC (edit:  discrepancy across different exchanges). 

 

does anyone have an opinion on ETC vs ETH?  looks like ETC's finally getting swept up in the mania but is it sustainable? are the security risks overblown? is the finite supply of ETC vs the infinite supply of ETH a factor in favor of ETH?

 

10 minutes ago, bernorange said:

Every news report I see about developments refers to stuff happening with ETH.  I'm no expert, but I think that is where the real action will remain between the two.

Correct. ETH is supported by the vast majority of developers. The split of Eth and Etc is an interesting story. https://en.m.wikipedia.org/wiki/The_DAO_(organization)
It illustrates some of the potential vulnerabilities of ETh. It’s pretty centralized.

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On 5/4/2021 at 9:06 AM, bernorange said:

... so I'm guessing there are some pretty smart people working to make ETH2 a reality.  ...

Quote

...
Plans to expedite Ethereum’s transition to a fully proof-of-stake (PoS) consensus protocol took a big step forward this past week with Steklo.

On Friday, April 30, developers launched the first multi-client test network simulating the Ethereum blockchain run atop Ethereum 2.0 software.
...
By May 14, developers coding for the Rayonism project at the Scaling Ethereum hackathon expect to have launched two more testnets in addition to Steklo, each more feature-complete and durable.

In a presentation at Scaling Ethereum, Loerakker said work on Rayonism will continue even after the hackathon until developers are completely satisfied that code specifications for merging Ethereum and Eth 2.0 are secure.

“What we have [on] Ethereum is a huge amount, like basically one of the biggest decentralized exchanges, [and] all the dapps. There’s a whole super large ecosystem and we should protect it. So  … after the hackathon as well – it’s not going to be a hackathon forever – we move towards production with iteration,” said Loerakker.

Ongoing progress on Rayonism has certain members of the Ethereum community expectant that the energy-intensive activity of mining could become obsolete and replaced with PoS validating as soon as December.

Beiko said on Discord, “If I was [an Ethereum] miner, I would plan to break even at the latest by EOY 2021. I much prefer to be too conservative in these predictions than not.”
...

https://www.coindesk.com/eth-2-0-validators-earn-record-3m-eth-soars-past-3k

Sounds like they are making good progress.

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12 hours ago, lmao said:

Do I hold onto my ETH or sell? This is some crazy ass returns lol

ETH has gone up roughly 3% since you posted this.

I have no advice one way or the other because I hodl. I'm not nearly smart or fast enough to trade in and out of crypto. I just thought it was funny.

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On 5/1/2021 at 8:19 PM, Nice Guy Eddie said:

I don’t fully understand the transition but my understanding is that when Eth 2.0 is fully realized, everyone is flipped into Eth 2.0. What I don’t know is whether its a phased approach or not, beyond this initial break.

one thing I am confident is that whatever date Eth developers provide, double the timeframe.

So what’s the value of staking now?

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38 minutes ago, Dbeasy said:

So what’s the value of staking now?

Don’t know. You might be earning now but perhaps don’t have access to sell the rewards yet. The developers also required a certain commitment from current  holders before progressing. I know they surpassed their target. 

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28 minutes ago, MonkeyDoughnut said:

I'll be happy with lower gas fees for sure. They are crazy now.

 

It threatens the entire platform and puts other blockchain platforms into play. It seems like polkadot and Cardano are vying to replace ethereum?

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1 hour ago, Dbeasy said:

It threatens the entire platform and puts other blockchain platforms into play. It seems like polkadot and Cardano are vying to replace ethereum?

Solana is another big one and has the backing of Sam from the exchange FTX behind it. Also the Binance Smart Chain and CZ behind that one. 

Fees need to come down for smart contract applications to make the impact the advocates envision. It’s not a given. Bur the Ethereum network has reached sufficient scale that it’s hard not to envision it carrying on. 
 

It will be interesting to see how it plays out. I’m not a fan of the PoS consensus mechanism fwiw. 

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Telcoin is having a really good week.  Almost hit $.05 a coin today.  Hearing from a guy that has 130,000,000 coins that it’s expected to be $.12-$.15 a coin when they release their v2 wallet in late summer. Yes, he got in early.

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12 minutes ago, henrygandorf said:

etc went from $50 to $185 in 48 hours and nobody's gonna say anything?  flash in the pan?

It’s hard to keep up with all of them. During these “alt seasons” all kinds of random shitcoins pump for no obvious reason. Typically you should expect them to dump eventually, especially the older ones that have done it before. 

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7 hours ago, Nice Guy Eddie said:

Ive been using MATIC which is a side chain for Eth. Basically they are what ETH wants to be with proof of stake and transaction fees. MATIC charges about $.00001 per transaction. 

I don't know what any of this means!

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