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Ethereum 2.0 launches

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Re: Ethereum 2.0 launches

#571

Post by wruza »

deeeeplearning wrote: post #334
wruza wrote: post #287

Earlier quoted context omitted.

They make a pretty common point. Nobody around e.g. me has an ability to have even a glimpse of understanding what eth/crypto is except for speculation and low-tech fraud, and then for me "sharing value like art and album via crypto as a futuristic mean to share digital values" is bird-gibberish nonsense. General population will never be too smart on average to benefit from this "whatever".

The same is true about the majority of the workings of the internet, or the electrical engineering that built their phones or dozens of other things people use everyday without understanding. How is that relevant in this case?

But crypto proponents describe use cases, not inner workings. Use cases for telecom were obvious much earlier that the internet itself, thousands of years of lost messages and messengers.

Re: Ethereum 2.0 launches

#572

Post by tylersmith »

capnorange wrote: post #543
tylersmith wrote: post #362

Earlier quoted context omitted.

You're just explaining the steps of the parent's scenario. The chain must keep accumulating work faster than any adversary could keep up with or everyone's money is at risk because the state never fully finalizes.

everyone's money is not at risk -- only the people who are transacting. There are also tools to know a estimate a good number of confirmations needed.

Everyone's money is the result of transactions, all transactions are at risk of being reorged, so everyone's money is at risk.

Those tools don't work in this chain death scenario of dwindling hash rate.

Re: Ethereum 2.0 launches

#573

Post by Acrobatic_Road »

KSteffensen wrote: post #565
Acrobatic_Road wrote: post #433

Earlier quoted context omitted.

>Instantly liquid programmable assets Since nobody really answered this one I'll explain it. Let's say you create 1,000,000 Blah-Tokens. Problem: your new asset has 0 liquidity. Right? Because there isn't a market for it. If you get it listed somewhere, there still won't be a market until people start placing buy and sell orders. So, can ethereum fix this? Yes! With an automatic market maker like uniswap. Put your 1M…

So liquidity here means whether there is a demand for my Blah-tokens, whether people are willing to buy it for their hard earned cash, gold bars, coffee beans or whatever. How does Ethereum help create a demand for my Blah-tokens? I can already open a web-shop that sells Blah-tokens. I'm fairly sure the demand will be very low, though. Please explain further how an 'automatic market maker like uniswap' will create de…

It doesn't create demand, it just makes it liquid which would otherwise be a tremendous hurdle.

Liquid markets enable demand though.

Re: Ethereum 2.0 launches

#574

Post by literallycancer »

eMGm4D0zgUAVXc7 wrote: post #467
pietjepuk88 wrote: post #458

Earlier quoted context omitted.

I guess I shouldn't have put the "human" in parentheses. I did give an example of how the EF is spending their money on development of the ecosystem though, hoping that'd make it clear what I meant. I even chose a grant to a wallet as the example. I personally prefer the role of the EF as a facilitator more than monolithic employer. And they can (and do) do facilitate in more ways than just handing out grants. It's j…

Thanks for your further reply! :) > It's just they experience has shown that helping out this way for wallet development (or even more generically software development) works better. Does it really work better from the perspective of a user though? Because as a user I am now sitting in front of 24 websites which look equally "meh" in terms of trustworthiness (fancy design and huge claims), each of them trying to get…

How does being a non-profit make their product more secure?

Re: Ethereum 2.0 launches

#575

Post by literallycancer »

lekevicius wrote: post #39

I am incredibly happy about this. It's the first step for a major cryptocurrency towards ledger security that does not damage the environment via mining. I always hated how wasteful and energy-inefficient mining is. Staking reduces energy costs by many, many orders of magnitude. With lightweight clients in development, it is possible to validate chain using Raspberry Pi. I hope (but don't expect) that some time in th…

Solar powered mining operations in the orbit are much more likely.

Re: Ethereum 2.0 launches

#576

Post by literallycancer »

jerry1979 wrote: post #557
downandout wrote: post #361

Earlier quoted context omitted.

Bitcoin might fall into obsolescence, but it won’t be because it is mined. It simply isn’t as useful as ETH. I firmly believe that DeFi, which is based upon ETH’s smart contracts and distributed EVM concept, is the future of the finance and investing universe, even with its many issues today. Flash loans/minting, for example, have turned the markets into the ultimate meritocracy. Anyone - rich or poor - can access up…

Have you checked out rsk? It lives on top of bitcoin and apparently does smart contracts. https://www.rsk.co

Is anything built on top of rsk up and running at this time?

Re: Ethereum 2.0 launches

#577

Post by literallycancer »

ishishkin wrote: post #552
woah wrote: post #541

Earlier quoted context omitted.

Vitalik Buterin came up with a solution for the nothing-at-stake problem: https://blog.ethereum.org/2014/01/15/slasher-a-punitive-proo... Also, I'm not sure why you and the other commenter are so argumentative about this. There are several PoS networks out there such as Cosmos, Tezos, etc, holding more than a billion dollars. If there was an issue, someone would have hacked them by now.

> Vitalik Buterin came up with a solution for the nothing-at-stake problem Is that a link to an article from a peer reviewed academic journal? > There are several PoS networks out there such as Cosmos, Tezos, etc, holding more than a billion dollars. If there was an issue, someone would have hacked them by now. I'll give you a hint: "slashing" is not a thing that sustains security of these networks.

Where did he claim it was a peer reviewed journal?

Re: Ethereum 2.0 launches

#578

Post by literallycancer »

hnick wrote: post #563
lasagnaphil wrote: post #561

Earlier quoted context omitted.

But then you're basically describing normal currency backed by the nation state. The state can basically print its own money because it backs up its currency with state power - whether it be enforcing laws and governmental institutions, enforcing taxation to force citizens to use its currency, funding military defensive/offensive operations, provide various welfare services to citizens to create a safety net for the…

I don't see the direct connection sorry. With currency, gold, etc, it can be stolen or controlled in ways a blockchain currency cannot. I was merely talking about replacing proof of work with a human step rather than something computed. Intellectual labour (such as to plug our gaps in AI) moreso than physical. Answer a quiz when you buy a coffee or sit there for a few hours to mine coins while analysing a corpus. Som…

Why would anyone use such a system? For poor people the motivation is clear. However, who's going to contribute the resources required to make it run, if the whole point of the system is to disadvantage those with the resources?

Re: Ethereum 2.0 launches

#579

Post by s_dev »

prussian wrote: post #97
s_dev wrote: post #80

Earlier quoted context omitted.

>What problem / which problems are being solved here? Lets say I want to transfer some assets to a guy without anyone knowing from any internet connection. There is a demand for this global service. Crypto-currency faciliates this. You buy crypto with your normal currency. Transfer. Switch back to normal currency. Yes you've endured some volatility in price but the whole operation was done in an hour or so. So legit…

so basically, we're inefficiently reinventing payment processing with the added tax burden of buying/selling securities?

>reinventing

No reinventing -- this tech doesn't require a middleman. Unprecedented.

Re: Ethereum 2.0 launches

#580

Post by hypertele-Xii »

SCHiM wrote: post #200
hypertele-Xii wrote: post #170

Earlier quoted context omitted.

I certainly trust world governments more than some random Internet community. Who's to say the whole thing isn't a scam? Has this tech been independently audited?

If you can break this scheme you can steal billions of dollars worth of currencies right now. If that is not independently audited by all evil hackers out there I don't know what is :)

It's possible to create a secure scheme that is still a scam.

What guarantees do we have that the developers/maintainers won't push changes to their own benefit? Presumably they already have given themselves a bunch of starting capital that everyone else's buy-in props up, like bitcoin.

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