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Vitalik escalates ETH 2.0 merge as miners plan a 51% attack

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Re: Vitalik escalates ETH 2.0 merge as miners plan a 51% attack

#41

Post by hanniabu »

numbsafari wrote: post #26
jaimehrubiks wrote: post #21

Regardless of the current issues with the updates, gas prices, different opinions on the community, devs vs miners vs users... Am I the only one who thinks people underestimate Ethereum and its EVM invention? In 2013 this guy (who I think is a visionary) wrote a document with a proposal that led to the creation of a world-wide turing-complete distributed computer. And still, people are just starting to realize its po…

Never underestimate the efficiency with which money launderers and organized crime are able to innovate and adapt.

It's easy to spot the people not knowledgeable in crypto when they just parrot the media's fear mongering narratives.

Re: Vitalik escalates ETH 2.0 merge as miners plan a 51% attack

#42

Post by gus_massa »

If the fee are going to be (partially) burned, can the miners just ask that everyone pays the fees by a side channel? Perhaps make a smart contract that holds the same value of the fee until the transaction is included. The miners can just ensure to include both or neither, and get paid.

Re: Vitalik escalates ETH 2.0 merge as miners plan a 51% attack

#43

Post by wizzwizz4 »

moralestapia wrote: post #14
DennisP wrote: post #8

Earlier quoted context omitted.

At this point Vitalik is one researcher among many. He's taken care to remove himself from the "benevolent dictator" role he had at first. He is very productive though, and the other researchers and devs tend to find his ideas convincing.

"A group of researchers" still doesn't feel like decentralized to me.

“A single species” doesn't feel decentralised, either. You're pumping your intuition rather than considering reality directly.

Re: Vitalik escalates ETH 2.0 merge as miners plan a 51% attack

#44

Post by guiomie »

It's interesting that miners are protesting EIP-1559 proposal, which is burning away transaction fees as opposed to giving them to miners, while for the last years Eth has focused on completely eliminating miners with proof of stake. Why not protest the latter? What am I missing?

Regardless, I sold all my mining equipment 2 years ago when it was clear that Eth was moving to PoS, mining alt-coins wasnt something I was interested in, since except for ETH and BTC, I believe all these chains are inferior.

Re: Vitalik escalates ETH 2.0 merge as miners plan a 51% attack

#45

Post by mrkramer »

jaimehrubiks wrote: post #21

Regardless of the current issues with the updates, gas prices, different opinions on the community, devs vs miners vs users... Am I the only one who thinks people underestimate Ethereum and its EVM invention? In 2013 this guy (who I think is a visionary) wrote a document with a proposal that led to the creation of a world-wide turing-complete distributed computer. And still, people are just starting to realize its po…

Satoshi already envisioned smart contracts that's why he created and designed Bitcoin Script Language "The design supports a tremendous variety of possible transaction types that I designed years ago. Escrow transactions, bonded contracts, third party arbitration, multi-party signature, etc."[1]

[1] https://bitcointalk.org/index.php?topic=195.msg1611#msg1611

Re: Vitalik escalates ETH 2.0 merge as miners plan a 51% attack

#46

Post by rawtxapp »

gus_massa wrote: post #42

If the fee are going to be (partially) burned, can the miners just ask that everyone pays the fees by a side channel? Perhaps make a smart contract that holds the same value of the fee until the transaction is included. The miners can just ensure to include both or neither, and get paid.

You can still tip a miner if you want to. Only thing burned is the "base fee".

Re: Vitalik escalates ETH 2.0 merge as miners plan a 51% attack

#47

Post by wizzwizz4 »

Sargos wrote: post #33
AaronFriel wrote: post #27

> There are a wide variety of benefits to this proposal, such as potentially making Ethereum deflationary Interesting that this is framed as a benefit.

A high price of ETH as an asset creates a higher security level for Ethereum the blockchain. The ecosystem of projects, apps, protocols, organizations, etc on Ethereum is healthier when the blockchain is guaranteed secure and stable for everyone to use. It's a benefit to everyone.

Except people who want to use ETH as a currency, rather than an asset. If we're going to have inflation or deflation, pick inflation; that way, you can actually spend the stuff without FOMO.

Re: Vitalik escalates ETH 2.0 merge as miners plan a 51% attack

#48

Post by rawtxapp »

mrkramer wrote: post #45
jaimehrubiks wrote: post #21

Regardless of the current issues with the updates, gas prices, different opinions on the community, devs vs miners vs users... Am I the only one who thinks people underestimate Ethereum and its EVM invention? In 2013 this guy (who I think is a visionary) wrote a document with a proposal that led to the creation of a world-wide turing-complete distributed computer. And still, people are just starting to realize its po…

Satoshi already envisioned smart contracts that's why he created and designed Bitcoin Script Language "The design supports a tremendous variety of possible transaction types that I designed years ago. Escrow transactions, bonded contracts, third party arbitration, multi-party signature, etc."[1] [1] https://bitcointalk.org/index.php?topic=195.msg1611#msg1611

One limitation of Bitcoin script is that it's not turing complete. But there are sidechains like rsk with defi apps like sovryn that bring smart contracts and defi to BTC.

Re: Vitalik escalates ETH 2.0 merge as miners plan a 51% attack

#49

Post by pgsimp »

jaimehrubiks wrote: post #21

Regardless of the current issues with the updates, gas prices, different opinions on the community, devs vs miners vs users... Am I the only one who thinks people underestimate Ethereum and its EVM invention? In 2013 this guy (who I think is a visionary) wrote a document with a proposal that led to the creation of a world-wide turing-complete distributed computer. And still, people are just starting to realize its po…

The point of Ethereum is not really to be a distributed computer. It also seems misleading to describe it that way, as it doesn't distribute computations. Every node computes the same thing.
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