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Ethereum Has Issues

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Re: Ethereum Has Issues

#81

Post by otterley »

yucky wrote: post #74
jqpabc123 wrote: post #30

Without regulation, the marketplace --- any marketplace --- becomes a platform for scams and extortion. Show me a marketplace without regulation and I will show you a marketplace best avoided if possible.

>Show me a marketplace without regulation and I will show you a marketplace best avoided if possible. I buy all of my vegetables from the roadside stands that are completely unregulated, and often set up in proximity to other stands with other offerings. I get a higher quality at a lower price - works out great.

Come on, there’s still plenty of regulation involved. There are regulations controlling the quality of the water that’s irrigating the fields, and they’re not using raw human waste to fertilize the plants.

Re: Ethereum Has Issues

#82

Post by cinntaile »

delaaxe wrote: post #73
undersuit wrote: post #53

Earlier quoted context omitted.

I don't think Ethereum will ever switch. The miners control the chain now, POS will disrupt that. The miners can't make an orderly exit of resources or to a new coin so they will persist on the dominant PoW-Eth while PoS-Eth loses all chain resources.

If the POW miners continue mining, that’ll create a fork which will quickly become unprofitable because of the difficulty bomb, and all of the stable coins on the fork will become valueless rendering the fork useless.

It's just code, what is stopping them from removing the difficulty bomb?

Re: Ethereum Has Issues

#83

Post by bulbosaur123 »

Let me guess. "It's still early". No it's not. "Still early" is the laggard's cope. We are in late stage of adoption, entire countries (El Salvador) have adopted Bitcoin, to what effect is up for discussion. One thing is clear, it's no longer "early".

Re: Ethereum Has Issues

#84

Post by jerry1979 »

jmyeet wrote: post #51

So Crypto Andys like to hand-wave about the risk of a 51% attack but consider this: > This is in addition to the long-standing concentration of Ethereum mining power, with normally three and sometimes only two mining pools controlling over 50% of the mining power. There is further hand-waving about how Proof-of-Stake (over Proof-of-Waste) will magically fix these problems. But it's actually this PoW computing power t…

What is a Crypto Andy?

Re: Ethereum Has Issues

#85

Post by bsamuels »

capableweb wrote: post #57
bsamuels wrote: post #50

Earlier quoted context omitted.

If you ask any engineer outside the BTC cult if bitcoin script and the EVM is comparable, they would say no.

Absolutely, Bitcoin smart contracts are different than Ethereum smart contracts. What's your point? Doesn't mean one has smart contracts and the other one doesn't.

Are you seriously going to grandstand whether the word "smart contract" can include non-turing-complete runtimes?

No, Bitcoin does not have smart contracts. It has a limited scripting environment that you can't do much with other than colored coins, and we've all seen how that's played out.

Re: Ethereum Has Issues

#86

Post by hitovst »

Ethereum is an anti-CC bribe. I get how traders might not have realized this, but the principled people who were drawn to Bitcoin should have realized this a long time ago.

Re: Ethereum Has Issues

#87

Post by pshc »

pavel_lishin wrote: post #75
pshc wrote: post #62

While many contracts within Ethereum have clear flaws, that doesn't mean Eth as a whole is broken. Time bandit attacks go away once proof of stake finality arrives. Also, trading ought to be done in Layer 2s. Does MEV work on L2s? Re: certain token drops wasting lots of gas, it's up to the token authors to use an implementation that avoids gas wars. Once you go into claiming equivalences with P = NP, you've lost me.…

> once proof of stake finality arrives Which it hasn't, despite being six months away for years now. You cannot handwave away problems by promising you'll fix them with X in Y months, when you consistently fail to deliver X.

I keep seeing this "eternal six months away" FUD, but no one wants to admit the devs delivered on the Beacon Chain which has been running smoothly for 1.5 years, and the Merge testnets are working quite well. Bitcoin maximalists are out there all day grousing about made-up deadlines promised by strawmen and laundered through hearsay. It has nothing to do with reality.

Re: Ethereum Has Issues

#88

Post by crazypython »

otterley wrote: post #76
px43 wrote: post #70

Ha, Flash Boys 2.0 was from 2019. This blog post is literally "I read a thing from three years ago and have lost faith in something that I never believed in in the first place". As someone who knows and has worked with all the people involved with the write-ups referenced in this blog post, I can pretty confidently say that the author is way way behind here. There have been some insane advancements in recent years th…

Can you elaborate on some of these “insane advancements”?

It means they worked on it and acknowledge it now. The fundamental problem is still very much there.

Re: Ethereum Has Issues

#89

Post by usrusr »

jmyeet wrote: post #51

So Crypto Andys like to hand-wave about the risk of a 51% attack but consider this: > This is in addition to the long-standing concentration of Ethereum mining power, with normally three and sometimes only two mining pools controlling over 50% of the mining power. There is further hand-waving about how Proof-of-Stake (over Proof-of-Waste) will magically fix these problems. But it's actually this PoW computing power t…

> The only use case we really have is illegal activity.

But isn't that enough? If we refuse to get rich from investing in ransom futures we have no-one to blame than ourselves.

At least that's how I read those typical victory lap posts by crypto winners. Or by proclaimed crypto winners desperately trying to extend the pyramid. Yes, I'll happily skip out on ransom future wealth.

Re: Ethereum Has Issues

#90

Post by shagie »

otterley wrote: post #81
yucky wrote: post #74

Earlier quoted context omitted.

>Show me a marketplace without regulation and I will show you a marketplace best avoided if possible. I buy all of my vegetables from the roadside stands that are completely unregulated, and often set up in proximity to other stands with other offerings. I get a higher quality at a lower price - works out great.

Come on, there’s still plenty of regulation involved. There are regulations controlling the quality of the water that’s irrigating the fields, and they’re not using raw human waste to fertilize the plants.

> and they’re not using raw human waste to fertilize the plants.

Nope... industrial waste.

‘Forever chemicals’ upended a Maine farm — and point to larger problem -- https://wapo.st/3OeHPEf

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