111–120 of 243 posts
AFAIK it takes 5 minutes to fork Bitcoin and create a new altcoin. Why would I use ethereum for my altcoin instead of doing a new altcoin?
Unfortunately, I'm trying to obtain a small amount of ethereum currency to experiment with this.. And I just killed my thread doing 1M hashes a sec, because I found out that 6MHash/sec = 5 Eth/month on average. I'll spend my time learning other things, mainly because this is inaccessible to me.
Both embark and truffle, two commonly-used frameworks, have modes that exercise the CPU even less, though I found them a bit hit or miss. I'm sure both have improved since, though.
I did a quick test run on the main network as well (which wasn't too expensive - maybe 1ETH). You're definitely better off using a testnet! - the turnaround time is much shorter.
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You can buy the Ether on an exchange.
I was hoping for a roughly low barrier of entry, rather than try to figure out who will trade USB for ETH, as I have no BTC. In all honesty, I'm looking at distributed applications as well, which from what I read Ethereum says it does and doesn't do. It's a bit fast and loose from what I read about, about Ethereum's capabilities. I'll go back to my experimenting with TOR and how it might be possible to make your own…
And you don't have to mine, you can get free testnet ethereum via the wei faucet:
https://zerogox.com/ethereum/wei_faucet
Gas prices to run code on ethereum are fractions of ethereum, so even a small amount will get you pretty far.
Previous discussion https://news.ycombinator.com/item?id=9987142 Give me any ethereum use-case & I'll tell you how to do it with bitcoin. Is it advantageous if a DSL is turing complete? It is not that bitcoin 'cannot have' a turing complete script but that it is unsafe & there is no need to do so. Turing completeness can be applied on an upper abstraction. There is nothing that ethereum can do that bitcoin cannot! Th…
Bias detection: How many BTC do you own?
Previous discussion https://news.ycombinator.com/item?id=9987142 Give me any ethereum use-case & I'll tell you how to do it with bitcoin. Is it advantageous if a DSL is turing complete? It is not that bitcoin 'cannot have' a turing complete script but that it is unsafe & there is no need to do so. Turing completeness can be applied on an upper abstraction. There is nothing that ethereum can do that bitcoin cannot! Th…
> Give me any ethereum use-case & I'll tell you how to do it with bitcoin. A dapp reaching into the state of another dapp.
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A lot more expensive. There will be no comparison in cost, or at least that is the wrong comparison to be making.
I'm not sure if I'm reading ethereum right, but it sounds a lot like mesh computing, where a user can bid for unused cycles on a bunch of networked computers, or one "world computer" if you agree with the author's characterization. If that is correct, then ethereum and Amazon spot instances could be interchangeable - low availability, but potentially lower cost due to the bidding process if there is a lot of excess c…
The benefit you get is this: When 500 computers are running it, then you know you can trust the execution and the 'state' of the virtual machine when it is only being run on 50 computers (or 1 in case of a centralized application).
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I have both bitcoin & ether apart from hundred other coins; earning profit is different from technical merit. I spent a long time studying ethereum as a promise for something incredible but in the end I realized its just the power of blockchains & can be done using bitcoin too. What I do not like in ethereum is the nature of origin of ether which makes it just an IPO coin.
> Give me any ethereum use-case & I'll tell you how to do it with bitcoin. I'm failing to see your point. Does the fact that things are possible with bitcoin make the technical merits of Ethereum less in some way? > What I do not like in ethereum is the nature of origin of ether which makes it just an IPO coin. The "makes it just an IPO coin" statement also seems to discount any of the technical merits of the platfor…
>to discount any of the technical merits of the platform due to your dislike
That is what I wanted to argue about, there are no additional merits to ethereum over bitcoin as people seem to believe
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I'm not sure if I'm reading ethereum right, but it sounds a lot like mesh computing, where a user can bid for unused cycles on a bunch of networked computers, or one "world computer" if you agree with the author's characterization. If that is correct, then ethereum and Amazon spot instances could be interchangeable - low availability, but potentially lower cost due to the bidding process if there is a lot of excess c…
Sorry, thats not correct. The only person who gets compensated for performing computations are the miners. Everyone else performs computation so they can have an up-to-date blockchain, but are not compensated. Ethereum is the most expensive computational environment you can imagine. However, it is also the highest trust. Its not for computationally-limited (gaming/data analysis) its for trust-limited (financial appli…
Crypto has come a long way since Ethereum was first conceived and what was impossible only a few months ago is now 100% practical. Today there are A LOT of new techniques that allow us to largely implement decentralized autonomous applications on any blockchain (no matter how limited) - a fact I feel often gets missed out in all of the Ethereum hype. If you have a lot a techniques like zero-knowledge proofs, homomorp…
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But Ethereum's raison d'etre is "X for the blockchain". VISA does 56,000 tps. So it's really simple. How are you going to hit 56,000 tps on the blockchain. The Bitcoin community, which is far bigger and generally more experienced than Ethereum's just spent 18 months vigorously debating this question. Do you suggest Ethereum has come up with a better answer? And the criticism here is around the selling point of Ethere…
There are several things Ethereum does currently that's better for scaling. 1) It produces blocks every 17 seconds. It can do this without neglecting security, because orphan blocks count as uncles and are included in the security of the whole network. 2) It has a scalable/dynamic blocksize. The miners can scale the gas limit up or down by a certain amount. If the current gas limit (pi million) gets hit, miners can s…
None of your talking points magically address the extreme costs of prerequisite physical infrastructure needed to hit 56,000 tps.
Bottom line, it's impossible to match the throughput capacity of just a single credit card company on any blockchain, be it Bitcoin or Ethereum or BBQCoin, without incurring enormous costs in terms of CPU and bandwidth. This is to say nothing of doing decentralized exchanges, order matching, and option contracts - all of which Ethereum has been advertised as doing on a blockchain. For that you'd need hundreds of thousands of tps.