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Ethereum 2.0 – Minimum deposit reached

launchpad.ethereum.org

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Re: Ethereum 2.0 – Minimum deposit reached

#111

Post by rglullis »

beaner wrote: post #95
rglullis wrote: post #83

Earlier quoted context omitted.

You are completely ignoring second-order effects for these systems. You can quite easily turn resources obtained from a PoW system into a PoS financial system and have the worst of both worlds. Do you want an example? > If you mine and do not sell, you perpetually consume and fail in short order. With ETH you can mine ETH, lock in a MakerDAO vault and pay your operations with very low-interest DAI and use that to fin…

> You are completely ignoring second-order effects for these systems Which ones? I don't believe I am, they're just not the point being discussed here.

> they're just not the point being discussed here.

In other words, you are ignoring (not paying attention, leaving aside) an aspect that should be considered.

(You asked for a good-faith conversation, but after these types of replies it gets hard to take you seriously. The quote "It is hard to get a man to understand something when his salary depends on not understanding it" becomes more and more apt with each response you give.)

Re: Ethereum 2.0 – Minimum deposit reached

#112

Post by Ruphin »

krageon wrote: post #102
Ruphin wrote: post #91

Earlier quoted context omitted.

The Terms of Service cover the usage of the Launchpad website. The website is a service created by the Ethereum Foundation to guide users through the procedures required to join the Ethereum 2.0 network as a validator. You don't need to use this website (or agree to the TOS for the website) to participate in the Ethereum 2.0 network. The technical requirements and procedures are fully documented in other places (in a…

They could just as easily have released user-friendly documentation without a ToS. Terms of Service are a way to oppress your users and are never a good sign.

The Ethereum Foundation is a legal entity, and as such they have to implement legal protections to any work they produce, or people will sue them. This is unfortunately how the current legal system works.

The ToS basically says you're not allowed to do illegal things, and they are not liable for any damages caused by using the website. In addition they have some restrictions in place in order to protect users of the website from fraud/phishing and other damage.

Do you think this is unnecessarily oppressive?

Re: Ethereum 2.0 – Minimum deposit reached

#113

Post by wildsatchmo »

newyankee wrote: post #3
drcode wrote: post #2

TLDR; The transition from Eth1->Eth2 requires the following steps: 1. Network operators (stakers) deposit at least 524,288 ETH in a special contract 2. The early Eth2 blockchain (the "beacon chain") launches Dec 1st 3. The Eth1 blockchain will be merged into Eth2 (details TBD) 4. Other features will be added to make Eth2 fully functional (sharding being the biggest feature) Just a few minutes ago, step 1 has been acc…

Does this mean no more mining and waste of electricity ?

Funny nobody complains about the energy consumed by actual banks and other services Bitcoin would replace, which is much higher. In those circumstances they can understand it's not a waste at all, but a cost of providing a valuable service.

I don't think POS is an adequate replacement. POW was an intentional design choice because of the highly competitive environment that it creates.

Re: Ethereum 2.0 – Minimum deposit reached

#114

Post by thojest »

thatguy0900 wrote: post #110
thojest wrote: post #105

[I deleted this post because it probably is against the HN guidelines]

And noone on reddit or Twitter is shilling?

Of course, but there is also the valuable information you have to extract yourself, which is not the case for this "news sites"

Re: Ethereum 2.0 – Minimum deposit reached

#116

Post by woahAcademia »

tromp wrote: post #109
woahAcademia wrote: post #108

I stopped trusting ethereum after EIP669. Ethereum used to have a soft cap of 100M coins. They removed the cap. Ethereum is no Bitcoin. It's more akin to dogecoin/fiat with its infinite money. Hope POS works so Bitcoin can adopt it.

Nothing wrong with uncapped supply. It's still disinflationary. In fact, it ends up with zero inflation when tail emission matches inevitable coin loss. There is however something wrong with defaulting on promises made at launch.

Yes this is precisely the issue. I don't mind various types of currency, but when you buy 50 of the ~100M ethereum you expect it to remain somewhat proportional in value.

That didn't happen, mere years after its launch they blew through the cap and are already 15% over.

Re: Ethereum 2.0 – Minimum deposit reached

#117

Post by xoralkindi »

Blockchains have a few problems that I think make them unsuitable for internet money, I know more about Bitcoin but I think this applies to Ethereum also:

- Early adapter become extremely rich (Developers)

- Transaction costs O(n) network complexity

- Every operation in the network result in no more than O(polylog(n))

- Energy Issues (Proof of Work)

- Speculative markets making the coins not usefull for day to day shopping

- Scams

- More Scams

- Pseudo Decentralization (centralize around Ethereum Foundation... Blockstream, Miners, Dev environments (Github), ISPs)

- Scams

Re: Ethereum 2.0 – Minimum deposit reached

#118

Post by dylkil »

BMSmnqXAE4yfe1 wrote: post #106

Forget ETH, XRP pumping much harder, why is that?

Anecdotal, but I have had 3 separate friends who are not techie/finance at all come to me with an amazing investment opportunity someone has shown them. An article[1] on how XRP is going to become the reserve currency for the world is going around the get rich quick circles. In short its being pumped by scammers.

[1]https://medium.com/@mark_91397/xrp-will-be-a-world-reserve-c...

Re: Ethereum 2.0 – Minimum deposit reached

#120

Post by woahAcademia »

ajkdhcb2 wrote: post #57
mikkelam wrote: post #39

I honestly think eth2 will have an incredible effect. Think of all the developing countries or countries without proper financial infrastructure, even places where you do not trust your local currency. All these places will benefit hugely from a bootstrapped currency ready to be deployed for very little effort. Launching an ecommerce will suddenly be much easier for a many more people. I'm also very interested in see…

If you don't trust your government or your personal safety, I can't imagine that it will be smart to use currencies like this that have ZERO privacy. I will stick with Monero. They have gone through all this complex redesign apparently without a single thought given to privacy; looks like a disaster.

I like monero, but these are complete different use cases. Ethereum wants to be a database, monero wants to be a currency.
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