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Ethereum Isn't Fun Anymore

timdaub.github.io

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Re: Ethereum Isn't Fun Anymore

#261

Post by gh55 »

UncleMeat wrote: post #233
gh55 wrote: post #199

Earlier quoted context omitted.

> The real problem in lending is to ensure that the borrower can afford the loan and uses the money on what he says he will. So the lender pays the money into a multisignature 2-of-3 wallet, gives 1 key to the borrower, and if when the borrower signs a transaction with that key to spend the funds is buying what they are authorised to buy, countersigns, else does not. And then you wrap this up in a smart contract, cal…

The repossession is the hard part. Let’s say I lend ten grand to some wallet so they can buy a car. They do so. Now they’ve got a car. They now move all their wealth to other wallets or fiat and refuse to pay me back. I need some mechanism of repossessing their car, which only works if I have state infrastructure and a legal system attached to my contract. “Btc bounty hunters” isn’t a good enough explanation.

Your correct to say the debt would need to be legally recognised, before it could be sold on to a legally registered debt collector. Aave for example has a UK Electronic Money Institution license, you might need some legal entity to take part in what I describe until laws catch up with innovation. Self driving cars, uber, Airbnb, face similar issues with regulation needing to adjust, that doesn't invalidate the innovation.

Re: Ethereum Isn't Fun Anymore

#262

Post by imtringued »

maeln wrote: post #64

I really, really don't understand where cryptocurrencies are going. Billions have been poured in this technology for almost no actual return technologically wise. And I understand, because interest are not aligned. It really seems like nobody actually care about advancing the state of art, except actual researcher who work in universities and not in crypto startups... Cryptocurrencies had a goal and a usefulness when…

>Or is there even a significant technological difference between Litecoin, Bitcoin, Bitcoin Cash, Dogecoin, etc ?

I would like to argue that the difference between Bitcoin and Bitcoin Cash isn't even a technological one. Every dunce can increase the block size. It's purely a political/social difference. It's laughable that cryptocurrencies market themselves as avoiding government control but yet they suffer from the exact same problems.

Re: Ethereum Isn't Fun Anymore

#263

Post by imtringued »

lawn wrote: post #160
maeln wrote: post #64

I really, really don't understand where cryptocurrencies are going. Billions have been poured in this technology for almost no actual return technologically wise. And I understand, because interest are not aligned. It really seems like nobody actually care about advancing the state of art, except actual researcher who work in universities and not in crypto startups... Cryptocurrencies had a goal and a usefulness when…

There's a big difference between Bitcoin and Bitcoin Cash: the intent to scale on-chain while Bitcoin has given up that leading to today's ridiculous transaction fees. Monero is the best approach to actual privacy as it conceals sender, receiver and transaction amount for all transactions. I do agree that the speculation focus is misguided, but there are cryptos that are useful the way Bitcoin was meant to be.

I consider Monero useful but most of its users are unethical. It's pretty telling that the author of the blog post bashes it in the exact way you should. "Don't buy it" as if it was meant to be speculated with.

Re: Ethereum Isn't Fun Anymore

#264

Post by imtringued »

globular-toast wrote: post #197
maeln wrote: post #64

I really, really don't understand where cryptocurrencies are going. Billions have been poured in this technology for almost no actual return technologically wise. And I understand, because interest are not aligned. It really seems like nobody actually care about advancing the state of art, except actual researcher who work in universities and not in crypto startups... Cryptocurrencies had a goal and a usefulness when…

Same. I was super excited for bitcoin ten years ago, but now I've experienced first hand how bad bitcoin is as a currency. Most people aren't even thinking of using it like that. It's just sitting in their coinbase account. So you've just got a bunch of people who all expect to make money from each other. Without any actual value it's a zero sum game, folks!

In practice you are waiting for technologically illiterate people to lose their Bitcoin or old people to pass away without revealing their wallet to anyone. That's a pretty weird form of "investment".

Re: Ethereum Isn't Fun Anymore

#265

Post by imtringued »

rawbot wrote: post #144
maeln wrote: post #64

I really, really don't understand where cryptocurrencies are going. Billions have been poured in this technology for almost no actual return technologically wise. And I understand, because interest are not aligned. It really seems like nobody actually care about advancing the state of art, except actual researcher who work in universities and not in crypto startups... Cryptocurrencies had a goal and a usefulness when…

IIRC Dogecoin was born as a meme. And now I'm supposed to believe it is a serious investment or cryptocurrency?

It's unfortunate that most cryptocurrencies are just as serious as Dogecoin.

Re: Ethereum Isn't Fun Anymore

#266

Post by _alex_ »

Clewza313 wrote: post #110
heterodoxxed wrote: post #98

Earlier quoted context omitted.

| 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.

There are several lightning network (payment channel layer on top of bitcoin) paywalls where you can pay 1/10 of a cent to read an article. The tech exists, its now an adoption problem

Re: Ethereum Isn't Fun Anymore

#267

Post by loceng »

koonsolo wrote: post #250
martin_a wrote: post #114

Earlier quoted context omitted.

After all those years, there's still not a single useful blockchain application around. These days I see lots companies telling me, they put their "supply chain on blockchain" and while I understand what they probably want to tell me ("you can't tamper with where our stuff comes from") I don't see the point in that. If you've got trust issues with your subcontractors you should fix those and not "seal" the willingly…

I think the decentralized web pieces are starting to fall in place: decentralized file storage, decentralized domain names, decentralized communities and streaming, decentralized payments, etc. I wouldn't declare it "failed technology" just yet.

Did Filecoin actually gain any traction?

Re: Ethereum Isn't Fun Anymore

#268

Post by rawtxapp »

martin_a wrote: post #114
Traubenfuchs wrote: post #56

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…

After all those years, there's still not a single useful blockchain application around. These days I see lots companies telling me, they put their "supply chain on blockchain" and while I understand what they probably want to tell me ("you can't tamper with where our stuff comes from") I don't see the point in that. If you've got trust issues with your subcontractors you should fix those and not "seal" the willingly…

I know someone who got a 7 figure loan backed by cryptocurrency collateral in a matter of minutes using makerdao. The best part? They didn't even had to provide their name. This is the future folks, I highly recommend that you actually try some of these projects before writing them off.

Re: Ethereum Isn't Fun Anymore

#269

Post by zionic »

martin_a wrote: post #114
Traubenfuchs wrote: post #56

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…

After all those years, there's still not a single useful blockchain application around. These days I see lots companies telling me, they put their "supply chain on blockchain" and while I understand what they probably want to tell me ("you can't tamper with where our stuff comes from") I don't see the point in that. If you've got trust issues with your subcontractors you should fix those and not "seal" the willingly…

>After all those years, there's still not a single useful blockchain application around.

Why are uniswap/none of these DeFi/DEx'es "not useful"?

https://defipulse.com/

Re: Ethereum Isn't Fun Anymore

#270

Post by TruthWillHurt »

erikbye wrote: post #189
TruthWillHurt wrote: post #179

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.

Maiar has hundreds of thousands.

Does it? does this app that lauched January this year, the ONLY app on the Elrund blockchain, which itself launched last year, have hundreds of thousands of users?

Simple answer - no, it does not.

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