181–190 of 650 posts
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| 1-click pay something like 0.01$ to read article. How would this work in a way that takes gas/fees into consideration?
That's kind of the point: it's completely infeasible to do microtransactions with Ethereum, much less Bitcoin. At time of writing it costs around $23 (!) to do a single ETH transaction.
Building something useful on something that is primarily used as highly volatile financial speculation instrument always rubbed me the wrong way. The whole crypto scene is just about making quick dough with a technology, that for some reason remains hyped through and wrapped in mysticism. Face it, there is no sexy killer app for the masses. Wait. There is one: Crypto trading to... make quick dough. And the cryptonerd…
> "that is primarily used as highly volatile financial speculation instrument " How is that different from any other asset; stocks, land, property. It's all speculation nowadays. From what I've read there are pretty much three use cases: 1. store of value akin to gold (bitcoin) 2. decentralised privacy money (monero etc, to avoid taxes?) 3. a platform on which to build decentralised technologies (ethereum, ada, thorc…
You're putting completely different things in the same bag. I would say you're right that crypto currencies and stocks are kind of similar, but stocks at least have a small (very tenuous, I admit) connection to reality. Stocks are related to real-world companies that deal things people are willing to pay for with real money. Stocks go up and down based on how much money the companies are making, not only based on how much speculation their stocks are being subjected to.
Crypto is purely and solely speculation. There's no one actually trading anything else other than the crypto coins themselves! That's quite different in my opinion.
Now, even though, sometimes, land and property are used as instruments of speculation, they're still connected strongly to the real world, real people. If the world forbid speculation overnight, people would still need to own property and land to survive, and they would still be willing to buy it in exchange for their work or other assets.
If crypto were forbidden overnight, the real world would be unaffected. Some people would lose savings they bet on a fictional economy, but beyond that, nothing would change. These things are fundamentally different.
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> Tech behind Ethereum is outdated. Well Eth 2.0 is applying the latest and the greatest in Crypto research to a real coin. In terms of scalabliltiy Ethereum is already way past bitcoin slow transaction rates.
The idea of a new version of your currency somewhat speaks against the utility of the whole thing surely?
Eth2 isn't a different currency, it's a replacement system that links with Eth1 to provide continuity. The ETH coins are not being replaced; both systems transact in ETH and are linked. That's why they are being careful with how it's evolved and how the economic links and incentives, and smart contracts and data sources, are set up in the transition.
There are many changes being implemented through this evolution. From PoW to PoS, single chain to cross-linked sharding (while managing the incentives to maintain the integrity of the network), various improvements to faster synchronisation, lower storage requirements, distributed storage of the state.
Being able to release v2, v3, v4 of software while staying compatible with all the work you did using v1 is a good thing. Same idea with evolving Ethereum.
Contrast it with the numerous new coin networks that use newer cryptographic ideas but each start their own separate networks. That's also evolution, but they don't provide continuity in the same way; instead they are a series of competing products.
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Nano. High throughoutput, no transaction fees. Works well for years already.
Having some level of transaction fees could be important for preventing DOS attacks. I also like the idea of forming a treasury from a cut of the transaction fees to fund proposals for future projects from within the community as Cardano and Polkadot have done.
Agreed. Their mitigation approach is somewhat interesting as well though (dynamic PoW [1]). Thanks to the independent nature of the blocks, signing difficulty of the transactions can be raised and lowered dynamically making spam incrementally more expensive for the spammers.
[1] https://medium.com/nanocurrency/dynamic-proof-of-work-priori...
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I don't want to call cryptocurrency as money because they're not circulating as you'd expect from money. Globally limited transaction rate, relatively long confirmation time, and few adoption.
An ACH transfer through my bank takes multiple days. I've only made a few transactions on crypto, but confirmation was more like seconds to minutes.
Building something useful on something that is primarily used as highly volatile financial speculation instrument always rubbed me the wrong way. The whole crypto scene is just about making quick dough with a technology, that for some reason remains hyped through and wrapped in mysticism. Face it, there is no sexy killer app for the masses. Wait. There is one: Crypto trading to... make quick dough. And the cryptonerd…
> "that is primarily used as highly volatile financial speculation instrument " How is that different from any other asset; stocks, land, property. It's all speculation nowadays. From what I've read there are pretty much three use cases: 1. store of value akin to gold (bitcoin) 2. decentralised privacy money (monero etc, to avoid taxes?) 3. a platform on which to build decentralised technologies (ethereum, ada, thorc…
This is a common talking point but it's not actually true. 99% of London housing is used for living in.
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What about a voting system? That's the only application of a public, decentralized ledger that can kind of makes sense to me. I'm from Switzerland, every few months we have a public voting for various changes to the federal or cantonal laws. I currently do not have a way to be certain that my vote is taken in account. With a public ledger I can check and be sure that my vote is correct. I'm generally opposed to softw…
> With a public ledger I can check and be sure that my vote is correct Any voting system with a public ledger where you can later check your vote is a disaster for election integrity. It's probably surprising, and certainly counter-intuitive, but that's a vector for fraud. That's why we have a long history of secret ballots. And no cameras in the voting booth. From a comment a few weeks ago ( https://news.ycombinator…
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I don't want to call cryptocurrency as money because they're not circulating as you'd expect from money. Globally limited transaction rate, relatively long confirmation time, and few adoption.
An ACH transfer through my bank takes multiple days. I've only made a few transactions on crypto, but confirmation was more like seconds to minutes.
But that's just a regulation and/or implementation issue.
You can transfer in minutes between countries in different currencies without blockchain.
The fact that your country is stuck in the stone age in this regard isn't really a good argument that cryptocurrencies fundamentally provide value over a solution without blockchains.
I guess the main value blockchain could provide here is to give banks and politicians a kick in the butt, and force them to invest in solutions and regulations that speed up money transfers.
Face it - there are no users for Dapps. Top apps get ~50k users. That's nothing. Whenever I think about creating something in Ether, I apply the "do I really need blockchain" question to it, and combined with low user count I realize I'll have a much larger audience without Ether.
When do people expect Ethereum gas prices to come down? Right now if I want to move 1ETH its costing me $109 from one exchange.