“Some real whale on whale violence on GDAX. Bear whale has the upper hand, but my money’s on Bull whale.”
So said an eth trader, and no one played the violin, but a bear was spotted playing the guitar, dancing to Cotton Eye Joe.
“Despair,” says an ethtrader. “Not yet,” replies another. “I’m there already just waiting for you all to catch up then I guess.” Knockdown. Ten/ten would read again.
Bears can be fun, but everyone hates em. We do too, no lies, but we do also kind of enjoy that bit when bulls are all the sudden, hmm… think about it, bitcoin is actually rubbish.
What?! Man, you can’t, no one gone pay with it. So slow, clunky, and think of all that energy for mining, that’s why bears are fighting.
Next day our bipolar trader will probably be all like, yeah but it’s fast though, with lightning as well, man, you can pay anyone anywhere, and fees now are near zero. The future!
We haven’t see the bullbearbull for ethereum yet. Look, who’s gone put mission critical stuff on this thing, and everyone sees it. Yeah right, like I’m gone allow my government to show everyone muh land registry or tax return. Ask Trump.
But land registry is already public. Yeah, but, some hacker won’t steal my house by just copying muh public key. Sure mate, thinking about it, eth is complete rubbish.
Yo, this eth thing is crazy bro – same guy, different day. You can like, you can put your house in it and sell a bit of it, you can make your fridge order your dinner, you can have actual contracts, automate admins and all things. Yeah, yeah, eth is awesome mate, I told you.
Old timers, who have gone through all this bipolarization, like to poke new ones, show just how rubbish crypto can be, then show how awesome.
Because crypto, of course, is not perfect, and to perfectize it, one needs to see where it falls short as it is after all just code and code can be upgraded and improved as one pleases.
What is most striking, however, is just how new so many are to this space and just how similar the points now made can seem.
One new bitcoiner, for example, said many were burned due to the price fall, and therefore had left the scene. We’re not sure that’s possible, once a cryptonian, always a cryptonian.
Not least because there has been far, far worse than mere sentiment price movements. If they didn’t leave in 2014, if they didn’t leave in 2011, they’re probably going no where now but perhaps taking a break.
The other aspect is just how unfamiliar many seem to be with ethereum. It’s like bitcoin. Yeah, ok, but how is it different. Cuz smart contracts. And, why anyone cares about them? Cus you can do stuff.
That’s probably the more in the know. At Times Squares is doubtful anyone has heard of smart contracts. When they do, the penny will drop when they realize the code is the private key.
To move money in your bank account you need a pin, or some authorization method. To move money in bitcoin you need to sign with your private key. To move money in a smart contract you need do nothing. If the code rules say the money should move, they move automatically, requiring no input or authorization. Now put that code in the fridge and you get your milk ordered automatically when its about to run out.
That’s a very new invention which has never existed before and opens countless of opportunities. Just as bitcoin itself is fairly new because at its foundation it makes possible what previously was impossible, making data uncopyable.
You can therefore put your company on there, your house, your bike, your eggs, and whatever else you like.
So digitizing all things, abstracting, creating a new layer of complexity and thus an increased level of efficiency and productivity facilitating further complexity layers on top.
But no one cares about that anymore as bears are on parade. So enjoy it while it lasts because you’ll be back here moaning about these bulls and these memes and, god forbid, you’ll even clamor for the bears to come back. Like summer heat and winter freeze. Ever thus man.