I HAVE INCURRED SO MUCH LOSSES TRADING ON MY OWN...I TRADE WELL ON DEMO BUT I THINK THE REAL MARKET IS MANIPULATED... CAN ANYONE HELP ME OUT OR AT LEAST TELL ME WHAT I'M DOING WRONG ?
I strongly advise you against self trading, it's really dangerous and had brought so many investors down, you need someone with the knowledge and strategies, someone dedicated to the crypto currency market business, and I will strongly recommend expert, Mrs Karen Charles
This is the very best explanation I have seen so far on RUclips. Well done. I just got done with a Bitcoin event in Osaka, Japan. Have you ever been here? I work and live here.
Cool man. Can I ask you, do you have any suggestions on how to get better knowledge on how Crypto's work. I'm at a point where I'm not sure if I need to know programming language, learn cryptology, or learn math (to help understand cryptology). Any suggestions are appreciated.
honestly I think this dude explained etherium better than other explanations ive seen... I understood the general idea but now have a better idea of how it actually works.
You made this easy to understand, the presentation was fun and lively. I love that you kept it short but also took the time to go into detail on the important things.
Very nice, engaging video with an enthusiastic sounding speaker. Loved the twist of explaining merkle trees through color combinations. I am trying to understand exactly how the smart contracts run. Are they only run if there is a transaction in the block currently being verified which makes an interaction with them? Like are they simply ignored if a block is created where no interaction is made with the smart contract? Also I don't quite understand the pricing. The creator of the smart contract couldn't know in advance how much memory and CPU it will need, and hence wont know how much gas to allocate for running the contract? Or is it even the contract creator who pays the gas, or is it instead whoever has an interaction with the smart contract at some later date?
Very nice, you guessed both of the answers! Smart contracts only react to transactions, they cannot passively respond to things. That's why there are projects like Ether Alarm Clock, which allow you to put a bounty up to "wake up" your contract at a later time. The Ethereum Virtual Machine (VM) has a price very every operation it can perform, measured in a unit called "gas". When you send a transaction, you include two parameters: Gas price (how much ether you're willing to pay per unit of gas), and gas limit (the maximum amount of gas you're willing to pay for during the transaction). During the execution of a transaction, before each operation, there is a check to make sure this will not exceed your gas limit. If it does, it throws an error, reverting all the changes your transaction made, other than charging you the gas fees. For this reason, a person publishing a smart contract pays enough to store that smart contract and set it up, and each person interacting with a smart contract pays enough for it to run their instructions. There are some changes planned for the Metropolis (EIP 86) that will allow any account to pay the gas fees, so then if you want to make your contract cheaper to use, you could pick up the bill for your users. I hope that helps!
Ah so simple setting up a smart contract involved instructions with a gas price. That is interesting. So if I was to speculate on the solution you describe. As a user you set a max amount of gas to prevent a faulty program from running far more instructions than you intended. Not sure if I get the max unit price for gas. I had assumed you bought the gas with ether in advance. But this makes it sound like you allocate some ether to the executing of the contract, which is then used to purchase gas in the market as needed. If there is a market? Or is gas price set by the miners, rather than traders. I assume ether price is determined largely by trading kind of like bitcoin, but that gas price might form in a slightly different way. Perhaps in relation to scarcity of computation power available on each node. E.g. if there are a lot of smart contracts running there will be shortage of gas/computation power available and hence gas price has to increase??
Your intuitions are so correct that I almost think you're trolling me by asking questions. Yes, you set a max gas amount so that you limit your loss in case of a faulty program. In fact, when an error is thrown in Ethereum, you lose your gas limit x your gas price of ether. When you set your gas price, you are declaring how much you will pay the miner for processing your transaction. This creates an auction scenario, where miners do mine the highest value transactions first. Yes, this means during busy periods, there are peaks in network usage cost, much like surge pricing on uber or lyft. Last week we saw a big glut of transactions being processed, and gas costs got quite high, around 51 gwei, and that's just because the big sale of the week (Status) limited their contributors to using 50 gwei per unit of gas. A unit of gas is just the smallest indivisible amount that is charged (in ether) to use the Ethereum computer. Every operation has its own gas cost, and they're priced to reflect the performance cost on the validator's computer. For example, adding two numbers is cheap, storing a number for eternity is expensive. Forgetting a number gives you a refund! That's all called "metering" and you can look up the price per operation online.
Bonus fun fact about how operations are priced: On the first day of Devcon 2, there was an attack on the Ethereum network where the attacker slowed down the network cheaply because the exponent operation was too cheap for how fast it computed on one client, bringing geth users down for the morning, until a patch was released.
Thanks for the thorough explanations. I feel I am really starting to grasp how Etherium works now. It was very confusing initially, what it even was. It really sounds like a brilliant technology with a lot of potential.
is this color-metaphor really correct? I never heard you can get the same color by mixing _two_different_sets_ of colors. I.e., you have A+B giving you C and you have D+E resulting into the same C. Aren't receipts for colors deterministic? Meaning you can always calculate back which two colors needed to get the one you need. Of course you don't know if it was _two_ colors in receipt. It might be 10 colors mixed together. But this is not what was depicted on the screen :)
hi! thank for this presentation. There are two things I don't understand: 1) what is the Difficulty algorithm in Ethereum (like in Bitcoin the block hash must start with a number of zeros) 2) what is the meaning of Uncles in the Ethereum block structure Thanks in advance
Those are good topics for a slightly more involved talk. You can read about these for now here: github.com/ethereum/wiki/wiki/Mining In Ethereum, in addition to the miner of a block getting a reward, the miner of blocks that end up being discarded as dead-end forks are also rewarded, when they are included by a miner as an uncle.
How exactly are you going to solve scalability issue ? since it's decentrelized , it means every transaction needs to run through every node (or process/verify ) right ? Don't you think that as this platform grows bigger bigger the speed of all those contracts and transactions would be really really slow since it needs to be verified by all nodes ?
Moon Bilguun There are several strategies for scaling, and they all have to do with ways for people to not verify every transaction. You can essentially have a consensus protocol for individual branches of the merkle tree, and join them with a lower root consensus protocol. Maybe a good subject for another talk, although there are so many projects on it, I'm not a full expert right now.
Thanks for this! Very interesting.... can you help be understand how something like Mt Gox can happen. If BitCoin was using the Merkle tree..... how can some many bitcoins go missing?
Mt. Gox was a centralized exchange, so people trusted this website with their account private keys, and someone with access to those keys ran off with them. MetaMask puts you in control of your own keys, so security becomes your own responsibility, namely, backing up your seed phrase, and avoiding getting your computer hacked.
The key/account management is a pretty different topic than the merkle data structure of the blockchain. The merkle tree is how the information is all stored, but the clients decide what is a valid new state, and this enforces rules about account ownership, including key signatures.
Yes, I understand rainbow tables. Who's proposing giving out your social security number's hash? An ethereum address is the hash of your public key, so it's only the hash of public information, it has nothing to do with a social security number.
Oh yeah, good catch. I agree, you shouldn't actually send a hash of a social security number, just used it as an example for a mostly non-technical audience.
This "intro" was way too nebulous and esoteric to be an intro. This is for someone that already has a little background and knowledge about the subject. It's not for the average Joe that works 9-5 and has very little time to dedicate to understanding this stuff.
Actually , i couldnt do 2FA because i lost my phone, now i couldnt recover my account for many days, the account recover webpage was broken i think. i got my account back thru a manual email, not the account recover system. But i known my email and password, and they kept denying the account recovery. i finally did have to get the manager's (supervisor's) attention, and not the robots attention.
The clearest intro to blockchain & Ethereum I've seen, period. Great job Dan!
Thanks!
I HAVE INCURRED SO MUCH LOSSES TRADING ON MY OWN...I TRADE WELL ON DEMO BUT I THINK THE REAL MARKET IS MANIPULATED... CAN ANYONE HELP ME OUT OR AT LEAST TELL ME WHAT I'M DOING WRONG ?
Same here, My portfolio has been going down the drain while I try trading,l just don't know what I do wrong
Trading with an expert is the best strategy for newbies and busy investors who have little or no time to monitor trade
I strongly advise you against self trading, it's really dangerous and had brought so many investors down, you need someone with the knowledge and strategies, someone dedicated to the crypto currency market business, and I will strongly recommend expert, Mrs Karen Charles
@@tatiendarafanur5280 Wow I'm just shock you mentioned and recommended Expert Mrs Karen Charles,I thought I'm the only trading with her
@@annaberry7159 You don't need to be shock because I'm also a huge beneficiary of expert Mrs Karen
this guy made merkle trees seem *elementary*. what an incredible teacher! the color analogy blew my mind 🤯
Spoke to Dan today. Honestly, one of the most geniune and brilliant minds. An integral part of our industry, he's really great!
I really like your joy and passion... nicely done!
Louis CK explaining Ethereum
This video needs to go viral. I will be sharing, thanks!
That was a great introduction. Thank you.
Thanks! You're very welcome.
This is the very best explanation I have seen so far on RUclips. Well done. I just got done with a Bitcoin event in Osaka, Japan. Have you ever been here? I work and live here.
Yes, it was one of the best. Cleared many of my doubts.
Thanks a lot!
I haven't been to Osaka, I was just in Tokyo for the first time and it was awesome, and a lot of people recommended Osaka, so hopefully someday!
Cool man. Can I ask you, do you have any suggestions on how to get better knowledge on how Crypto's work.
I'm at a point where I'm not sure if I need to know programming language, learn cryptology, or learn math (to help understand cryptology). Any suggestions are appreciated.
Not just a great introduction on Ethereum, but a great explanation on blockchain. Thanks:)
Let's talk,I have something bigger to introduce ⤴⬆⤴
This guy is dope! I want him in my fridge to say hi to me whenever I open the door.
Are you OK there?
ruclips.net/video/zDNGLlemgxA/видео.html
Quick and comprehensive introduction.
Awesome video! Dan is great at explaining as well as a really good presenter!
So far the best video that explains the functioning brilliantly. Thank you very much !
ruclips.net/video/zDNGLlemgxA/видео.html
What a great guy ... I almost never compliment dudes but this guy is great! Thanks for the info very helpful
Lol! Thanks! You're very welcome.
wrong, idts. man can be higher value, many w low vx shtx. stupx w orbitor
Why do you never compliment dudes?
why does he sound like he’s just snorted about 200 lines of amphetamines..
You should compliment more dudes.
Excellent overview. I added this video to my favorite list and will look for more stuff from Dan.
Great video. I like the way you explains. keep up the good work.
The color-mixing analogy was a great choice.
This video is priceless! Great work explaining stuff. Cleared a lot of questions.
honestly I think this dude explained etherium better than other explanations ive seen... I understood the general idea but now have a better idea of how it actually works.
Let's talk,I have something bigger to introduce ⤴⬆⤴
One of the best videos I've seen on this topic.
You made this easy to understand, the presentation was fun and lively. I love that you kept it short but also took the time to go into detail on the important things.
Meta Mask company: Ahead of the game for years!
This talk is enthusiastic and awesome
That was such a clear explanation!!
Best explanation I came across by far. Thank you very much!
Very useful introduction, really you open to me new horizons of well understanding Ether
Thank you
Superstar Intro ... thanks mate ...
Finally i meet with the right ETH minner ...Its feels cool i bet
Via +1 4 7 8 2 6 1 8 1 3 1
You wonna invest?? You love ETHEREUM?? Or wonna know more about crypto currency ..123instanthackers. net will welcome you with full hands.
This video is epic!
Thank you so much 🙏🙏
nice introduction , would love to hear more about the limitation of ethereum network.
You can get in touch with me.
Very well explained Dan!
I will have to agree with the other viewer this is a very well made and energetic presentation
Thank you very much, I have got interested in with those information, and good presentation gestures.
Perfectly explained, thanks
ruclips.net/video/zDNGLlemgxA/видео.html
wow, you are amazing. I am a blogger and I am watching tons of vids on crypto. This guy is THA BEST.
Hey Dan, congrats, very good presentation!!!! cool!!!!
Thank you, very informative!
That was amazing
Very nice, engaging video with an enthusiastic sounding speaker. Loved the twist of explaining merkle trees through color combinations.
I am trying to understand exactly how the smart contracts run. Are they only run if there is a transaction in the block currently being verified which makes an interaction with them? Like are they simply ignored if a block is created where no interaction is made with the smart contract?
Also I don't quite understand the pricing. The creator of the smart contract couldn't know in advance how much memory and CPU it will need, and hence wont know how much gas to allocate for running the contract? Or is it even the contract creator who pays the gas, or is it instead whoever has an interaction with the smart contract at some later date?
Very nice, you guessed both of the answers!
Smart contracts only react to transactions, they cannot passively respond to things. That's why there are projects like Ether Alarm Clock, which allow you to put a bounty up to "wake up" your contract at a later time.
The Ethereum Virtual Machine (VM) has a price very every operation it can perform, measured in a unit called "gas". When you send a transaction, you include two parameters: Gas price (how much ether you're willing to pay per unit of gas), and gas limit (the maximum amount of gas you're willing to pay for during the transaction).
During the execution of a transaction, before each operation, there is a check to make sure this will not exceed your gas limit. If it does, it throws an error, reverting all the changes your transaction made, other than charging you the gas fees.
For this reason, a person publishing a smart contract pays enough to store that smart contract and set it up, and each person interacting with a smart contract pays enough for it to run their instructions.
There are some changes planned for the Metropolis (EIP 86) that will allow any account to pay the gas fees, so then if you want to make your contract cheaper to use, you could pick up the bill for your users.
I hope that helps!
Ah so simple setting up a smart contract involved instructions with a gas price. That is interesting.
So if I was to speculate on the solution you describe. As a user you set a max amount of gas to prevent a faulty program from running far more instructions than you intended.
Not sure if I get the max unit price for gas. I had assumed you bought the gas with ether in advance. But this makes it sound like you allocate some ether to the executing of the contract, which is then used to purchase gas in the market as needed. If there is a market? Or is gas price set by the miners, rather than traders. I assume ether price is determined largely by trading kind of like bitcoin, but that gas price might form in a slightly different way. Perhaps in relation to scarcity of computation power available on each node. E.g. if there are a lot of smart contracts running there will be shortage of gas/computation power available and hence gas price has to increase??
Your intuitions are so correct that I almost think you're trolling me by asking questions.
Yes, you set a max gas amount so that you limit your loss in case of a faulty program. In fact, when an error is thrown in Ethereum, you lose your gas limit x your gas price of ether.
When you set your gas price, you are declaring how much you will pay the miner for processing your transaction. This creates an auction scenario, where miners do mine the highest value transactions first. Yes, this means during busy periods, there are peaks in network usage cost, much like surge pricing on uber or lyft.
Last week we saw a big glut of transactions being processed, and gas costs got quite high, around 51 gwei, and that's just because the big sale of the week (Status) limited their contributors to using 50 gwei per unit of gas.
A unit of gas is just the smallest indivisible amount that is charged (in ether) to use the Ethereum computer. Every operation has its own gas cost, and they're priced to reflect the performance cost on the validator's computer. For example, adding two numbers is cheap, storing a number for eternity is expensive. Forgetting a number gives you a refund!
That's all called "metering" and you can look up the price per operation online.
Bonus fun fact about how operations are priced: On the first day of Devcon 2, there was an attack on the Ethereum network where the attacker slowed down the network cheaply because the exponent operation was too cheap for how fast it computed on one client, bringing geth users down for the morning, until a patch was released.
Thanks for the thorough explanations. I feel I am really starting to grasp how Etherium works now. It was very confusing initially, what it even was. It really sounds like a brilliant technology with a lot of potential.
This is a really good talk! Excellent job, look forward to seeing more talks from Dan!
Let's talk,I have something bigger to introduce ⤴⬆⤴
AMAAAZING intro. Thanks :)
it is so amazing how enthusiastically he presents this topic. very interesting and his laugh is super cute ... just saying ;) :D
thanks Dan that was a great intro
Dan, you are great presenter
at 1:18 his slide says "Hash of this slideshow --> ??????" if I understand hashes correctly, it would be impossible to fill in the ??????, right?
Clayton Roche Good eye, that’s exactly right!
it depends on what hash function you are using ^^say if person A uses hashfunction A , and you dont have the same function, it will be impossible ,
@@DanielFinlay Can you please let me know why ? If a mp3 file can be hashed then why not a ppt ?
is this color-metaphor really correct? I never heard you can get the same color by mixing _two_different_sets_ of colors. I.e., you have A+B giving you C and you have D+E resulting into the same C. Aren't receipts for colors deterministic? Meaning you can always calculate back which two colors needed to get the one you need. Of course you don't know if it was _two_ colors in receipt. It might be 10 colors mixed together. But this is not what was depicted on the screen :)
Excellent video.
hi! thank for this presentation.
There are two things I don't understand: 1) what is the Difficulty algorithm in Ethereum (like in Bitcoin the block hash must start with a number of zeros)
2) what is the meaning of Uncles in the Ethereum block structure
Thanks in advance
Those are good topics for a slightly more involved talk. You can read about these for now here:
github.com/ethereum/wiki/wiki/Mining
In Ethereum, in addition to the miner of a block getting a reward, the miner of blocks that end up being discarded as dead-end forks are also rewarded, when they are included by a miner as an uncle.
Great explanation!
Great intro, well done!
This could be used to double check anything any amount of times. For security
Very good session...
Great explanation! Thanks!
very nice thank you
It’s basically the mathematical tree that can be tracked to a source and verified but not duplicated. In any realistic amount of time .
Finally i meet with the right ETH minner ...Its feels cool i bet
ruclips.net/video/zDNGLlemgxA/видео.html
Git is some kind of blockchain concept.
wow-I am in awe
thanks for video , one of best @eth @bitcoin #hash ... cheers !!!
Sudeep Makwana Good Hash. Legal, Accepted and enjoyed in Canada :)
17th Feb, 2017. The bull run was just beginning, and they were right on the wave. And four years later, here we are again!😎
good introduction.
Thanks for this 👏🏾👏🏾
I am really interested in becoming a blockchain developer and need guide, how do I get started please?
so how dose one give thear uplaod server to be use on flixxo
Really good speech, but 75% of the video is about generalities not Ethereum. Skip to 7:37 if you're already familiar with Bitcoin.
thank. for your greeting.
Amazing talk!
thank you man
great video TY.
How exactly are you going to solve scalability issue ? since it's decentrelized , it means every transaction needs to run through every node (or process/verify ) right ? Don't you think that as this platform grows bigger bigger the speed of all those contracts and transactions would be really really slow since it needs to be verified by all nodes ?
Moon Bilguun There are several strategies for scaling, and they all have to do with ways for people to not verify every transaction. You can essentially have a consensus protocol for individual branches of the merkle tree, and join them with a lower root consensus protocol. Maybe a good subject for another talk, although there are so many projects on it, I'm not a full expert right now.
Investing with expert Nora has been the best step I have ever took in my life, may God bless that day I meet her
I have been investing with Mrs Nora for month now and I made a lot of profit from her
I'm happy today because of Mrs Nora
Wow I just made my second withdraw again today trading with expert Nora
She is the best broker I have ever seen
@Yahor Andry . The success behind my profit earning in Bitcoin investment is not solely on my skills but by the help of an expert
Great guy !
Holding to Etherium🚀🚀
Sold my Litecoins
What about tokens?
this guy is awesome
Doug Polk here
A merkle, f'yeah!
You are very smart and How can I discuss with you more about the currency please?
It's like File DNA
Works good, tnx
Amazing
Thanks for this! Very interesting.... can you help be understand how something like Mt Gox can happen. If BitCoin was using the Merkle tree..... how can some many bitcoins go missing?
Mt. Gox was a centralized exchange, so people trusted this website with their account private keys, and someone with access to those keys ran off with them. MetaMask puts you in control of your own keys, so security becomes your own responsibility, namely, backing up your seed phrase, and avoiding getting your computer hacked.
MetaMask ahhh... so they stole the private key.... could you use a Merkle key for a private key? .. . I guess it then would not be private.
The key/account management is a pretty different topic than the merkle data structure of the blockchain. The merkle tree is how the information is all stored, but the clients decide what is a valid new state, and this enforces rules about account ownership, including key signatures.
Thanks. I have a much better understanding now..... very helpful. Thanks again.
I like colors :)
how iz the blockchain technology not just another Buzzword for the internet ?
Reply >
I thought my fan was on (Audio)
Sounds great, thanksgiving and still no metamask for android, #nocryptokitties
ts not excix or cool or unexcix uncoxx, tell/can tell anyx nmw and it can all be perfx. not git, idtnerx
the FPS tho...
hey
please subtítulos español
Way too hyper, Dan… maybe switch to decaf? I came here bc I’m looking for an intro, not a "sip from a firehose"… YMMV, IMHO, etc. etc.
?
That’s a little too much for me. Ima go watch a video on what crypto currency even is
It would be very stupid to give someone your social security number's hash. Ever heard of the "rainbow tables"?
Yes, I understand rainbow tables. Who's proposing giving out your social security number's hash? An ethereum address is the hash of your public key, so it's only the hash of public information, it has nothing to do with a social security number.
1:24 here
Oh yeah, good catch. I agree, you shouldn't actually send a hash of a social security number, just used it as an example for a mostly non-technical audience.
This "intro" was way too nebulous and esoteric to be an intro. This is for someone that already has a little background and knowledge about the subject. It's not for the average Joe that works 9-5 and has very little time to dedicate to understanding this stuff.
Devolve o canal do zangado
Color Kittens lol
I guess I got paid😂
You're talking too fast for people to understand you
hello coinbase.com stole my coinbase account, they've locked our coins and the service is disgusting
Rnefr Sa'Sekhmet did they give any reason why they closed your account?
Actually , i couldnt do 2FA because i lost my phone, now i couldnt recover my account for many days, the account recover webpage was broken i think. i got my account back thru a manual email, not the account recover system.
But i known my email and password, and they kept denying the account recovery.
i finally did have to get the manager's (supervisor's) attention, and not the robots attention.
you keep spamming this shit but you are the one to blame if you lost your phone, end of story.
i lost my phone and couldnt access my account , end of story