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Re: Technical analysis /Other thoughts on Etherium?

By: Zimbler0 in 6TH POPE | Recommend this post (1)
Sat, 08 Oct 22 2:40 AM | 23 view(s)
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Msg. 36210 of 58667
(This msg. is a reply to 36208 by Fiz)
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Fiz > I don't understand ETH,

>>>
Ethereum is a technology that's home to digital money, global payments, and applications. The community has built a booming digital economy,
>>>

"I don't understand" should be seen as code for 'stay away' . . .

What is Money? A medium of exchange by which, say, groceries, can be purchased or ones production can be sold. Money must be portable in order to fulfill the function.

'Money' must also have value. 'Fiat currency' has no 'value' backing it - except for the faith of the users and trust in the issuers.

What is the 'Value' behind Etherium?

Can I use it to buy groceries at the Kroger? (I really don't think so.)

Do I want to be paid in Etherium - when it is not readily convertible into something I can use to buy groceries?

Etherium smells to me like it is more a vehicle for speculators to separate fools from their money than a medium of exchange for good or services.

Of course, I have similar feelings for gold . . . .
But what do I know?

Zim.

Mad Poet Strikes Again.

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The above is a reply to the following message:

Technical analysis /Other thoughts on Etherium?
By: Fiz in 6TH POPE
Sat, 08 Oct 22 2:18 AM

Msg. 36208 of 58667

http://www.coindesk.com/price/ethereum/

As of the time I am posting this, ETH is $1332. On a 1 year chart it shows it hit a 1 year low of 1040 in July. So, it is pretty close to its one year low.

And I am thinking I would gamble on some, if I knew of an efficient way to get it. And hold it (probably wallet).

What do you guys think? Any crypto or chart analyst types here?

I don't understand ETH, but it has a lot of thinking behind it, and an on-going effort to give it some sort of function...to help justify its use and continued existence. I believe, in this regard, it is way "ahead" of bitcoin in terms of being high tech and, possibly, giving itself some credible basis for continued existence in the age of Central Pranking?

On the other hand, bitcoin is supposedly more secure/private, and still seems to be where the vast majority of the serious types are hodling?

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