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Ethereum Has Issues

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Re: Ethereum Has Issues

#151

Post by null0pointer »

asasidh wrote: post #65
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…

"So much of Crytpo can be explained by Bitcoin FOMO. Everyone just jumps on the latest shitcoin or NFT because "I'm not missing out this time". This 200%

I think this is true. I also think the flipside of the coin is true. So much of the crypto hate can be explained by jealousy and anger at missing out.

Re: Ethereum Has Issues

#152

Post by Geee »

Ethereum is a dead man walking at this point. I hope it dies as soon as possible. Ethereum is the worst thing that happened to cryptocurrency. It diverted attention from what's actually important, brought all the scamming in the space, and hasn't provided anything of value.

Re: Ethereum Has Issues

#153

Post by delaaxe »

cinntaile wrote: post #82
delaaxe wrote: post #73

Earlier quoted context omitted.

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?

Nothing, but that'll just create yet another fork, just like Ethereum Classic, which is completely worthless

Re: Ethereum Has Issues

#154

Post by whymauri »

maupin wrote: post #93
bulbosaur123 wrote: post #83

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".

Maybe not early, but saying that we are in the "late stages of adoption" is laughable.

This might get me crucified on HN, since many here are from developed countries, but I would argue we're just cresting the hill of late stage adoption for the Internet. Like, 40% of the world still does not have Internet!

Re: Ethereum Has Issues

#155

Post by delaaxe »

tick_tock_tick wrote: post #119
delaaxe wrote: post #77

Earlier quoted context omitted.

> As of 2022 the oracle problem still hasn't been solved What do you mean by that? I thought ChainLink solved that pretty well

ChainLink just distributes the trust around making it harder too corrupt but in no way solves the issue.

Trying to understand by going through this: https://blog.chain.link/what-is-the-blockchain-oracle-proble...

Aren't they precisely solving the issue?

Re: Ethereum Has Issues

#156

Post by rvz »

svachalek wrote: post #135
naoqj wrote: post #52

Earlier quoted context omitted.

That's crazy. If he is satoshi what's his excuse for not having the private keys to those coins in the main bitcoin network?

It would be incredibly stressful for him to prove it, nay as much as he would like to be vindicated, the risk of the fame and the pressure blah blah blah. Sorry I can't be bothered to look up the actual quotes but they're similarly incoherent. He pretends to have them but not to want to use them, even to prove his claims.

To summarize:

In conclusion, if he is unable to prove he is Satoshi, he therefore cannot claim to say he is Satoshi, unless he can prove otherwise; but so far he has not.

So hence the above unless proven, he is not Satoshi.

QED.

Re: Ethereum Has Issues

#157

Post by otterley »

cool_dude85 wrote: post #94
otterley wrote: post #81

Earlier quoted context omitted.

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.

Well, then this is also true of crypto - there are regulations about how the electricity used for PoW is generated, transmitted, distributed, regulations about how these transactions should be reported for tax purposes, etc. But that's not what he's talking about.

You also can't injure your customers with your produce.

You can't put your produce stand in the middle of a public roadway.

You can't lie about what kind of produce you're selling, and you can't lie about its grading.

You can't doctor the scales.

You can't charge a higher sales tax than is levied by the locality and pocket the difference.

Re: Ethereum Has Issues

#158

Post by throwaway82652 »

Karrot_Kream wrote: post #141
throwaway82652 wrote: post #126

Earlier quoted context omitted.

>Would it help if I said that the hardest part is creating a way to get the weather data on chain that the buyer and seller can agree on ahead of time? No, because it's still impossible to do that at scale without solving the oracle problem. Putting some arbitrary data on a chain doesn't mean the data is reliable.

I don't know if there's any way out of the oracle problem honestly. There's nothing wrong with shopping around between different human-administered oracles though, or having some code which polls multiple oracles and takes action based on some statistic applied to the oracles (mean, etc.) But yeah I'm not convinced the oracle problem can be solved.

Having multiple oracles doesn't really change the problem, then you're implicitly trusting a group of oracles instead of just one.

Re: Ethereum Has Issues

#159

Post by dabeeeenster »

RustyConsul wrote: post #131
WJW wrote: post #80

Earlier quoted context omitted.

> I still find it pretty mind blowing that an algorithm can loan me money. Algorithmic lending has been a thing for decades though. What do you think a credit score is for if not a tool to let computers decide whether to give you credit or not?

Credit is loaning you money and providing an interest rate. Usually something insane like 15%. DeFi is unlocking the value of an asset, making it liquid and allowing me to participate in other investment opportunities without an APR. One example is on Kaurura. I have KSM, Stake that KSM for a 19% APR Rate. Throw that LKSM into a vault and mint AUSD as long as i have 160% collatoral ratio. I can then use that aUSD i p…

"One example is on Kaurura. I have KSM, Stake that KSM for a 19% APR Rate. Throw that LKSM into a vault and mint AUSD as long as i have 160% collatoral ratio. I can then use that aUSD i printed, buy other assets and participate in liquidity pools, which are giving anywhere from 50% to 300% APR."

I'm sorry, but this sounds ridiculous.

Re: Ethereum Has Issues

#160

Post by bpodgursky »

rsync wrote: post #129
bpodgursky wrote: post #55

Earlier quoted context omitted.

> by getting rich by doing nothing while lauding how smart you are over other people This is exactly how I envision the dream of old world wealth you see on Downton Abbey or similar. Get born into a minor lordship somewhere in England and spend your days educating yourself (maybe leisurely publishing a book or two) and raking in tax revenue from the commoners.

"This is exactly how I envision the dream of old world wealth you see on Downton Abbey or similar." Then you misunderstand ... That world you're envisioning is what happens after the "getting rich". In the case of feudalism - and its remnants - the "getting rich" involved murderous expropriation of the lands and property of anyone that got in the way by sociopaths who hoarded and coveted everything that entered their…

Yeah but that all happened in like 1071.

The dream is to inherit that wealth and be born into the upper-crust. Nobody wants get their hands dirty with the murdering and exploiting!

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