Etherium logo finally makes sense

A thousand upvotes? Is this reddit?

What's the exchange rate of Reddit karma to Lemmy nothings?
- Reddit karma uses a logarithmic function to determine the karma on a post. The first upvotes give 1 karma each, but the higher the number gets the less karma you get from additional upvotes.
  
  This isn't even some theory based on observations, the reddit algorithm used to be completely open source so you can see how it works on github (or at least how it used to work 7 years ago).
  
  Front page reddit posts with 50k points most likely have over a million upvotes in reality
- 1,763.64:1
  
  From 97 million active users from reddit vs 55k users from Lemmy.
- Well, at least you won't find bots farming karma
I didn't even know the counter could go to 4 digits.
- It doesn't happen often, but when it does it's the equivalent of going viral around here lol
1k upvotes here is like the equivalent of 50k on Reddit (probably I'm operating on dated info, who knows how much they screwed with the upvoting system by now lmao)
- Welcome to the private forum ;)
We are working on it
- Explains why the servers are so slow lately

I think I saw this meme for the first time in 2017

What's funny is that, in 2017, the ETH high was something like $12. (It got up to $1300 in 2018)

Now, it's sitting at $2000 and it's a "crash".

The lesson here is to buy the dip and then check back in 5-10 years.
- that is the rule with all crypto. just pick one of the 40 thousand made, but it, wait a decade then sell it.
- If you're gonna hodl for 5-10 years you probably don't even need to worry about buying on the dip 😂
gotta hodl your memes

This is what happens when you don't use crypto as god intended: purchasing medication from India and subscriptions to indexers.

Purchase Bitcoin right before purchase. Watch the spare change left over go up and down and imagine all the millions you could be winning or losing.

This is what happens when you don't use crypto as god intended: purchasing medication from India and subscriptions to indexers.

I'm not saying this is what I bought Monero for.

But this is what I bought Monero for.
Using xmr to order anabolic steroids from clearnet UGLs and to order acid and molly from darknet markets, as god intended 💪

And to top it off all the xmr comes from semi legal business ventures in the first place, so this is a nice way to get rid of black money
- I had to order medication using crypto off a darket once, anti depressants for a loved one. I used something crazy like Kali on a cheap flash drive. It worked just fine and I felt like Hackerman.
  
  My acid days are long gone. Psychedelics in general, actually. Mushrooms learned me enough and were a good teacher.

I think crypto is good for transactions, not storing money.

Like, crypto in general sucks, but digital anonymous money transfer is almost impossible without it.
- The underlying tech is actually very cool and neat, unfortunately it got co-opted by cryptobros and bastardized :(

*checks ETH price*

Am I missing something? I've been staking since the switch. I'm doing just fine.

You just doing fine so far!

Na in all seriousness what orange Muppet does to the world markets atm is horrible while I wish it to crash on his head I wish everyone of normal people they get rich with whatever.

Omfg lol too good

What is an "Ethereum"? Some sort of subscription?

A cryptocurrency that recently lost a lot of its value
- I can't wait for people to realize they're all in a pyramid scheme together. I'm sick of hearing bros saying crypto should be part of my portfolio.
- It never had any value, like all other crypto currencies. But it was used to fake value and dupe people out of their money.
It's a pretty old cryptocoin: initally released back in 2015, and a significant change deployed in 2022. It was then when they changed from proof-of-work to proof-of-stake, which basically means that they don't use mining anymore to keep the network running. They use like 1% of energy compared to PoW coins.

Also they have some smart contract capabilities which I suppose Ethereum people think are important. But I've never seen any practical use for that stuff.

Still, I think Eth is one of the cryptos that actually tries to be useful and efficient in some way and not just a stupid pump and dump scheme. Turns out, nobody gives a fuck about that, perhaps?
- Also they have some smart contract capabilities which I suppose Ethereum people think are important. But I’ve never seen any practical use for that stuff.
  
  Anything you need complicated multi-party interactions for that you want guarantees on. Real estate escrow comes to mind first. Depository accounts with yield. An immutable archive of records. Multi-signature corporate treasuries. Whatever. It's programmable money. It's not even necessarily monetary, because smart contracts can just deal with arbitrary data.
  
  Never impressive to see a technical audience shit all over Ethereum for internet points. By far the least scammy crypto people have actually dedicated years into building something real on.
- Haha yeah I made this comment mostly to see if I could meme some anger out of someone. Got some nice explanations though.
- It's only worth $80,000 per token. Nobody gives a fuck! smh.
Ethereum is a petroleum based lube used in gay porn. When multiple dudes double dock during an orgy, that's called a block chain. The ethereum on their foreskins creates an immutable ledger.
- So what's a hard fork?
It's a decentralized network running a virtual machine with its own token to pay for usage.

That is perfect!

People can spend their money on whatever they like and invest in whatever they choose. I’ve always taken a position that I want to invest in things that make sense to me and ideally something that would improve the world in some way

God damn! Have a little sensitivity lol

Ha ha!

No, man. People are sounding like these prices are fixed, when we've seen time and time again that crypto prices are cyclical.

Now's a time to buy. ETH is at a 50% discount. Your assets would be in a pretty good spot right now if you'd bought Bitcoin in 2017 when it "crashed" to $4000 per unit. I picked up shares of EZBC at an average of $32 a share (currently hovering between $45-$50 in a supposed crash) and XRP at 50 to 75 cents, currently hovering around $2.10.

What you do is invest, and then just forget about it and let those assets sit. Investing is about forward-thinking.

We've seen time and time again that not all crypto prices are cyclical. Ethereum has been performing poorly relative to BTC. If you're just going to forget about it, then you should avoid proof of stake! When you log back in you'll see that everyone who staked was sitting on a musical chair and you're not.

Plus, it's run by a central foundation that bailed itself out when the DAO flopped. Requires attention at best.
They are as cyclical as people are cyclical for falling for confidence scams again and again and again ... You can consider something based on how good an investment it is, or based on how ethical it is. Very seldom will both work out. People, don't cry about the rich getting richer, the poor getting poorer, assholes behaving more like assholes, and inflation skyrocketing when you normalize and even crowdsource this sort of relationship with your economy. Don't be surprised when the society that surrounds you is so burnout all you have to spend your money on is shit.
- They are as cyclical as people are cyclical for falling for confidence scams again and again and again
  
  No. They are cyclical because of the way that crypto algorithms work, and the effects they have on the media and human greed.
  
  how ethical it is.
  
  This conversation isn't about ethics. It's about the silliness of the meme, but thank you. You are correct in saying that each individual investor needs to consider these issues as well.
Now’s a time to buy.

Never is it a good time to invest in a ponzi scheme. It's just a matter of playing "Greatest Fool".
- "Greatest fool" description relies on the precept of its utility or demand returning to zero in a near-future timeframe. If people have utility for "the thing", that won't be the case.
- You mean "greater fool". As in, you're looking for somebody who's a greater fool than you to sell to.
- Totally, friend. Brilliant response.
Is this really a cycle? The interesting thing to me is, as others have pointed out, it's mostly dropped right along with the stock market. Not looking so much like an uncorrelated asset.
- It is uncorrelated to the stock market.
  
  What it's not uncorrelated to is the chaos of the Trump presidency.

Ah yes the price is returning to where it was 4 months ago just like the stock market. So people who have been buying at the peak for the past 4 months might have lost some money. Otherwise it's still up like 10000000% historically.

Nobody cares except the anti-crypto ideologues with their misinformed memes.

ETH is a massive premine, making you exit liquidity.

Its basically buying silver instead of gold (bitcoin) because its "cheap".

It feels tacky to point this out, but that is just vaginas. The open wallet? What are we doing.

Brother, really? Have you even seen one before? 🤔
- They're obviously made of polygons.
- He must be down bad, have a little heart.
Here's your chance to get in on the ground floor....

https://coinmarketcap.com/currencies/pussy-financial/

(jk don't buy this)