Everything Ethereum

in #ethereum7 years ago

This is my first post so lets see how it turns out, ive introduced a solid 100 people to Ethereum over the past 3 months and ive been tweaking an email that i would send to them but it goes something like this:

I would get them to go to myetherwallet.com make a password and save the file(UTC keystore)

I would make them email the UTC keystore to themselves incase there laptop dies or gets stolen etc and make sure they will never forget the password

I would send them X eth, take them to shapeshift and make them convert 1/10th of there eth to Golem(GNT), Gnosis(GNT) and Augur(REP)

occasionally i would send them a small amount of BTC if they signed up to poloniex so that they could lend( the minimum is 0.01BTC) and form that i would explain that once they hit 10,000 satoshis or 0.00010000BTC which should take a few days they can then buy GNT, REP or GNO and it is effectively free

anyways enough about the back story heres the email:

What is ethereum:
https://motherboard.vice.com/en_us/article/okay-wtf-is-ethereum

There was always 4 parts to rolling out ethereum:
Frontier (v1), homestead (v2), metropolis (v3) and Serenity(v4)
currently we are about 1-3 months from metropolis


this guy explains the roadmap of ethereum pretty well

switching from Proof of work(POW) to Proof of Stake(POS) is what will make ethereum go up the most in price
https://ethereum.stackexchange.com/questions/118/whats-the-difference-between-proof-of-stake-and-proof-of-work
these people explain it much better then i can
but basically in POW you use electricity as proof that you are contributing to the network in order to get rewarded
with POS instead of wasting power you will "stake" your coins for example you wont spend your ether for several months and will need to have internet and a few other things that has not been publicly released yet and in turn you will receive rewards effectively giving you interest for saving which is why i think alot of money will flow into the buy ether leading up to that, e.g if i was running a silk road and it costs me 10 ether to run the website in gas, if i buy 10,000 eth and stake i will make 10 per day for free, allowing me to run a website on ethereum for free

www.myetherwallet.com - this is how you can access your wallet

www.shapeshift.io - an easy to use currency exchange

www.poloniex.com - this is the biggest crytpo to crypto exchange

www.coinbase.com - this is one of the biggest $$ to crytpo exchanges that offer btc and eth
note i dont use coinbase but this seems to be the largest in terms of countries allowed to signup

www.etherscan.io - is what they call an 'ethereum block explorer'
you can search for your address and track it in real time as a read only wallet

https://etherscan.io/charts - has lots of charts that are updated daily (0:00 UTC time) the main ones i look at are:
transaction history chart - this shows the total number of transactions over the last 24 hoursScreen Shot 2017-07-09 at 2.11.58 pm.png

address growth chart - this shows a total number of addresses that have been used at least once on the Ethereum network
Screen Shot 2017-07-09 at 2.13.15 pm.png

ether historical prices - this shows the price of ethereum since it was created
Screen Shot 2017-07-09 at 2.14.35 pm.png

ethereum network hashrate - this shows the total amount of power used to secure the network - 1 top of the range graphics card mining ethereum will get about 0.03 GH/s
Screen Shot 2017-07-09 at 2.15.23 pm.png

Etherum GasLimit History - when you send a transaction it costs about 21,000 gas, each block(~17.7seconds) currently has a max of ~6,700,000 gas that can be used
Screen Shot 2017-07-09 at 2.17.54 pm.png

Ethereum Average GasPrice - this shows how much one gas unit costs - currently this is about 0.00000002 ether so when you send a transaction it would cost 21,000 x 0.00000002
Screen Shot 2017-07-09 at 2.20.41 pm.png

total daily gasused - this shows the total amount of gas spent over 24 hours which is a good indicator of the network growing
Screen Shot 2017-07-09 at 2.21.38 pm.png

there are other charts on that page but they are the ones i usually look at but if you have any questions about other charts ask me and i will answer them

What is Golem?
https://golem.network/

What is Augur?
https://augur.net/

What is Gnosis?
https://gnosis.pm/

these should all contain a video that you can watch as well as point you to forums etc to find out more, again if your unsure about anything hit me up and i will answer what ever you want

reddit channels
https://www.reddit.com/r/Augur+Golem+TheDao+digix+ethereum+ethtrader+gnosisPM+reptrader+slockit/new/
https://www.reddit.com/r/bitcoin+btc/new/

https://ethstats.net/ - this shows the state of the network for the last 25 blocks or so

if you listen to podcasts

  • the ether review
  • state change
    big props to Arthur Falls
    if you go back to the first few podcasts on 'the ether review' they should explain most things pretty simply

http://www.weekinethereum.com/ - this gives you a summary of the last 7 days that has happened in the world of ethereum
down the bottom of the blog post it has a list of ICO sales, ICO stands for Initial Coin Offering similiar to a company doing an IPO or going public, its worth doing alot of research before you send any eth to them, golem augur and gnosis all released the tokens in the same way by doing an ICO. I am not following any particular ICO's at the moment but im sure there will be some more in the future that will be very good

some other coins that are built on ethereum that i have missed or i just have a small amount of include:
www.digix.io
https://mysterium.network/
singulartv
humaniq
taas

again ive probably missed stuff out so if you have any questions let me know and ill try fill in the blanks but this should keep you going for the a while

Sort:  

Thanks so much for the info and help understanding crypto. Also thanks for walking me through setting up a wallet and shapeshift. Could not have done it on my own for shit :D xo

Found your post through Reddit. Enjoy your earned karma points that actually have value.

haha thanks i wonder how big steemit will get

Heh, we'll have better idea of that in few years.

Alot of information here. Great post. Look forward to more crypto insights from you sir!

yeah will save me digging up my email every time someone asks me where i get all my info from, thanks for the upvote

Really helpful, thanks. As someone who follows Ethereum a lot more closely than I do, when (and if) do you think it will bounce back beyond 400?

i think metropolis will be the pump that knocks us over that price but it could be earlier then that, im thinking something closer to 1000 usd by the end of the year is achievable

Thank you for compiling such a comprehensive overview. This will be great for all the new adopters, and the people just trying to learn about this new ecosystem.

Thanks for the good article

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