201–210 of 272 posts
There's one point in particular that took me a while to grasp: while you can write code that runs on the Ethereum network, every single node has to process that code. So if, for example, you had a big 3d animation sequence that you wanted to have rendered, you would not just send that code off to the network to be processed. You would have to pay to have every single person on the network process that job for you, an…
Ethereum is very simple in essence: it's a Turing-complete version of Bitcoin. The way you transfer a bitcoin from one person to another is by creating a Bitcoin transaction that contains an input script that fulfills an in-blockchain output script with which a number of bitcoins are associated. The output script may say " provide a public key that hashes to and a signature, over a transaction (which sends the bitcoi…
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A good litmus test is the level of technical depth of discussion, it's very easy to discuss hypothetical achievements at a high-level of any cryptoasset, but to be able to get into the details demonstrates knowledge beyond any regular trader as well as provides possibly objective reasons to be argued with.
Good point. There is one guy in he thread who doubts that ETH will scale. He stays quite meta but sounds credible because he gives one or two good reasons. Still it's hard to judge if it's just a claim or is it substantial, is it crucial for the success anyway? This whole cryptothing feels like gambling, 'put all your money on red, red will win..'
Are we at the "mania" stage of cryptocurrency interest yet?
It's not even close. I've been told that at the height of the Dotcom bubble, companies received investments for simply having ".com" in their name. That's where we're headed.
I think we are close to the top, how much worse than this can it get?
Everyone has realized there's crazy mania, and so now everyone is capitalizing on it. In a few months, the number of projects to fund will no longer be smaller than the amount of money being put towards funding.
Good luck in the long run
There's one point in particular that took me a while to grasp: while you can write code that runs on the Ethereum network, every single node has to process that code. So if, for example, you had a big 3d animation sequence that you wanted to have rendered, you would not just send that code off to the network to be processed. You would have to pay to have every single person on the network process that job for you, an…
Ethereum isn't trying to be some sort of generic distributed computing platform. The notion of writing a dApp to do distributed 3D rendering is outrageously stupid. The idea is to program your money. Here's a dollar that can only be spent on healthy food. Give these to your kids for doing their chores or whatever.
Are such restrictions meaningful though? One huge feature of these currencies/tokens is how easy it is to trade them; maybe your kids will trade their "healthy food dollar" for $0.75 of some unrestricted currency, hence "a dollar that can only be spent on healthy food" is actually "about $0.75, with an extra transaction step".
There's one point in particular that took me a while to grasp: while you can write code that runs on the Ethereum network, every single node has to process that code. So if, for example, you had a big 3d animation sequence that you wanted to have rendered, you would not just send that code off to the network to be processed. You would have to pay to have every single person on the network process that job for you, an…
I don't trust anything that 4chan is telling me to buy.
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Well, it can't in its present form, but there is a market (me, at least) for a distributed app framework that would be the basis for uncensored (and uncensorable) serverless p2p versions of all your favorite social media.
I've heard that idea mentioned a lot but it doesn't seem like anyone has a good strategy for dealing with abuse. This seems especially problematic with a blockchain which cannot be altered: what do you do when someone creates a fake profile, uploads revenge/child porn, nazi propaganda, etc.? In many parts of the world that has a legal requirement to be blocked which would seem to either require a way to rewrite histo…
Ignore it and move on. Block the user from your personal feed if you want.
> In many parts of the world that has a legal requirement to be blocked which would seem to either require a way to rewrite history or the entire system being blocked in that jurisdiction.
How has that worked out against BitTorrent?
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Blockchain != crypto currency. There are quite a few private blockchains that are now running in the financial and healthcare industries at a pretty large pilot programmes that are very functional and bring destinct advantages.
Name some. And then explain why a private blockchain, controlled by a single entity, or a group of companies that trust each other, is better than a database.
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Yes. Can you answer it? Assume I'm neither a libertarian nor an anarchist.
During the past decade, the Federal Reserve has created 4 trillion dollars out of thin air in an attempt to prop up the economy. The Fed seems hesitant to unwind that as it carries the risk of harming the economy. Fiat money can always be created out of thin air, and it seems to be proving difficult for those in power to resist that temptation. https://www.thestreet.com/story/14181100/1/the-fed-normalize...
(Also, they're arguing against QE, not the entire concept of fiat money.)