121–130 of 153 posts
I never understood why people like Ethereum. It's one of the worst cryptocurrencies in existence. They've been working on staking and sharding for years and have shown no results on those fronts. This update is insignificant. This is not normal. There is something seriously wrong with the development process. IMO, they have been infiltrated by saboteurs and their project has become corrupted. Unfortunately, this is n…
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Arguably, Ethereum's even more prone to this of loss than BTC, because of the complexity of broken smart contracts with permanently locked funds.
I think it evens out though because of a lot of early people with lots of bitcoin just lost interest and lost the wallet. This was sadly the case for me as well as a few other people i know. By time eth came out though everyone was much better about backing up wallets you thought would be worth nothing.
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95% of Bitcoin miners voted to increase the block size and it didn't happen, but you're right about the benefit of the ice age.
You mean 95% by people, not by mining capacity, presumably. How is that determined, do you have a reference?
At a certain point it was only blockstream and their reddit who really opposed bigger blocks, and it turns out that is sufficient to stifle Bitcoin progress.
https://en.bitcoin.it/wiki/New_York_Agreement this was the era if you are looking to do research.
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The deflationary aspect isn't speculated to kick in until after the merge to PoS when the issuance drops significantly. Regardless, I don't believe it will be deflationary long term. It will likely just last a year before it reaches an equilibrium.
The loss of coins means it will likely be massively deflationary over time. I don't have the numbers for ETH but off hand I believe 20% of all BTC has been lost already, since just 2009. That's an annualized 1.55% effective supply deflation rate during a period where new supply was quickly generated. Basically every random walk down the timeline leads to 100% of coins lost in the course of time. This is of course sep…
Friendly note that money supply is only correlated to whether a currency is inflationary or deflationary. Over the past weeks, for instance, Bitcoin has been inflationary--its purchasing power dropped.
I never understood why people like Ethereum. It's one of the worst cryptocurrencies in existence. They've been working on staking and sharding for years and have shown no results on those fronts. This update is insignificant. This is not normal. There is something seriously wrong with the development process. IMO, they have been infiltrated by saboteurs and their project has become corrupted. Unfortunately, this is n…
> They will never deliver anything meaningful. Never. https://ethereum.org/en/dapps/#explore
All these ERC20 projects force their community to pay between $10 to $20 per transaction to Ethereum miners who add no real value to their project/token. No real project based on real underlying value would force their users to pay such extortionate fees to some set of third-party validators who have nothing to do with their project aside from wedging themselves as middlemen between their tokens and their users.
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What's stops the rich to validate fake transactions from all wallets below 32eth to their own wallets? Why does this 32eth min exist?
Fake transactions take more than a 50% attack to execute. Because the transactions simply do not come with the required signatures. For rolling back transactions, a 50% attack actually convinces the remaining honest nodes. For invalid transactions, even if you have 90% of the network, the remaining 10% of honest nodes will not follow the wrong chain. This means anyone could detect this happening. At which point faith…
Eth isn't yet a grown up ecosystem when one party can push for a major network change like this, and there not be any question that it'll go through. Democracy where one party wins every vote isn't really democracy. Benevolent dictator works for software projects, but not for currencies.
I dunno, remember Parity (who were very big players and leading devs in eth at the time) wanting a fork to recover contract funds and it was plainly rejected by the rest of the community. That said im also not really sure what you would be asking for as a change to the process? Anyone is welcome to join the discussions, propose changes, defend them, code them. What would make it "grown up" and mature in your eyes? Al…
If the project survives that, you can have a lot more confidence the project can resolve disputes with no key members being vital to the process.
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That's largely an orthogonal point. You may be suspicious of USDT or USDC's claim. But the point is that at least some fraction of the market is not, which is why USDT trades at $1.00. Now that may turn out in the future to be revealed to be a sham, and the market will lose faith. But right now USDT only has market value because some segment of people believe in the promises made by the Tether Corporation. If I fork…
not quite. stablecoins do not get stability from belief in the backing assets. they get stability merely from a shared agreement to pretend the coin is stable, so as not to lose whatever stake they have put in.
The only reason stablecoins work is because they have a mechanism where you can quickly 1. mint a new coin and sell it for slightly more than $1 for it 2. buy a coin for less than $1 and redeem it for $1 in value