101–110 of 1001 posts
I was fairly into the space in 2014-2016 but stopped paying attention the last few years. It seems like lots of theorized applications actually exist and have a proof-of-concept now. If I’m building a marketplace business in 2021, where I want to be “crypto-first” instead of relying on PayPal and Stripe Connect, where do I start? The marketplace sells access to resources with an off-chain ACL system. It facilitates t…
So with PoS, we recreate a system where a few rich pool have decision over the network. Can someone enlighten me on how this is different from the current fiat system?
It is a system where you have skin in the game, the more skin in the game you have, the more power you have. Think it like a democracy where you are voting with your wallet. The main difference with the fiat world is that with Ethereum you have transparency, and there is no corruption. You can't just bribe a politician to enact a rule you want. Everything that happens in the network is recorded permanently, and rules…
Don't get me wrong, it's great that they are working on becoming more effective but the idea that we should judge new technology purely on it's environmental impact as we see these days is counterproductive to progress. Progress from 0 to 1 will always be less effective than the optimization that follows.
We should be much more focused on how to make sure that any technologies energy usage doesn't become an issue by creating clean technologies with high energy density, which are reliable, plentiful and scaleable and doesn't require backup sources.
Its price will also tumble 99% . People motives to get into crypto are clear. They want to subtract themselves from government policy of constantly printing money. BTC takes care of that and it's a 14 years brand which is extremely politically expensive to make illegal On the other hand people are perfectly satisfied with their experience on Youtube, Amazon, Google, Facebook, Ebay, JPMorgan etc. which are the entitie…
Wasn’t Casper going to do this like four years ago? They have been talking about moving to PoS forever now. It still hasn’t happened.
I like how these kinds of quips will evaporate I just wonder what the next criticism will be
Maybe this is a good time and place to ask - let's say I want to buy something using Ethereum. Is it correct that when I look at, say, https://ycharts.com/indicators/ethereum_average_transaction_... , you have to pay USD 20 just as payment fees? I wrote off Bitcoin as a payment mechanism a long time ago because of this (although it seems BTC tx costs are now lower than ETH?), is this the direction tx costs for all cr…
Bitcoin's attempted solution on this front is off-chain scaling via lightning network. As far as I can ascertain, this has had highly limited adoption.
Eth's attempted solution on this front is sharding. I can't claim to be an expert in this, but from my understanding after proof-of-stake is deployed, ethereum plans to deploy something like 64 separate "shards" which, from my understanding, are like extra blockchains for conducting transactions, and using some kind of complicated proof of stake system to keep it consistent. In this case, while the main-net still has limited global throughput, scaling up to add more side chains will allow scaling additional throughput. You can read more here https://ethereum.org/en/eth2/
As with lightning, we don't know how well this will actually end up going until it's deployed.
So with PoS, we recreate a system where a few rich pool have decision over the network. Can someone enlighten me on how this is different from the current fiat system?
Unlike with fiat, you're not forced to use any particular crypto. If the rich stakeholders of ethereum decide to muck around with the network, nobody will want to use it anymore and the value will drop.
This doesn't even begin to consider long term debt.
I was fairly into the space in 2014-2016 but stopped paying attention the last few years. It seems like lots of theorized applications actually exist and have a proof-of-concept now. If I’m building a marketplace business in 2021, where I want to be “crypto-first” instead of relying on PayPal and Stripe Connect, where do I start? The marketplace sells access to resources with an off-chain ACL system. It facilitates t…
Unless you are building a dark web market, why would you want to? It will be more convenient for the vast majority of users to pay with card or PayPal.
Is it possible/likely that exchanges are going to abuse their position and secretly use everyone else's ETH for proof of stake while they're holding it?
So with PoS, we recreate a system where a few rich pool have decision over the network. Can someone enlighten me on how this is different from the current fiat system?