Wow!
Bitcoin, your turn!
The Ethereum merge is done
561–570 of 1001 posts
Re: The Ethereum merge is done
#562This thread is HN jumping the shark for me. The merge is freaking incredible. Switching the engine of a $60 billion financial network in-flight. Permanent power savings the scale of a country. An incredible coordination between a huge number of diverse parties all over the world. Everything open source. And all we get is a rehash of tired old arguments against cryptocurrencies. This was originally a forum for hackers…
This article can give you some insight as to why HN reacts the way it does: https://www.citadel21.com/why-the-yuppie-elite-dismiss-bitco...
Re: The Ethereum merge is done
#563This thread is HN jumping the shark for me. The merge is freaking incredible. Switching the engine of a $60 billion financial network in-flight. Permanent power savings the scale of a country. An incredible coordination between a huge number of diverse parties all over the world. Everything open source. And all we get is a rehash of tired old arguments against cryptocurrencies. This was originally a forum for hackers…
I’ve given up on HN understating crypto before they mint some Giga unicorn and everyone understand where the future is. The hive mind here is dangerously anti crypto. It’s the biggest wealth producing opportunity of the next decade or two and HN doesn’t get it at all. It’s basically become a forum for your average developer. I’d bet a lot of folk who don’t understand crypto at all are web developers or something wher…
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Re: The Ethereum merge is done
#564Prior to the merge ethereum’s trust was controlled by the organizations with the most money who bought/built massive data centers to mine it. With the merge & staking that abstraction layer has disappeared and it’s still the organizations with the most money who control it. Sure it’s great that non-productive math problems no longer need to be solved & consume so much energy and hardware to make it all work. And it m…
Not using up a goat load of electricity is like 99% of why this change is great. Let people speculate on their funny money without harming everyone. A lateral move on the other details is rather unsurprising.
Not sure if “goat load” was a typo, but I love it. Although you can put significantly less on a goat than you could on a boat.
Re: The Ethereum merge is done
#565Earlier quoted context omitted.
This is still a forum for hackers, makers and entrepreneurs. We just don't accept Monopoly Money as compensation for work rendered.
I accepted that Monopoly money ten years ago for work rendered. Glad I did.
Hey, if you don't mind your per-diem being less liquid than your stock options, go for it. Thinking pragmatically about the future of cryptocurrency though, I'd reckon it's safer to bet on the US dollar than Bitcoin bouncing back.
Re: The Ethereum merge is done
#566This thread is HN jumping the shark for me. The merge is freaking incredible. Switching the engine of a $60 billion financial network in-flight. Permanent power savings the scale of a country. An incredible coordination between a huge number of diverse parties all over the world. Everything open source. And all we get is a rehash of tired old arguments against cryptocurrencies. This was originally a forum for hackers…
Ethereum has always seemed like the only real effort towards accomplishing the goals that were set out for the Bitcoin ecosystem.
Everything else...literally everything else in the space appears to be pump and dump, get rich quick scams: ICOs, NFTs, new coins appearing constantly, etc.
Kudos to Ethereum for pulling off the merge. There's a lot of people heavily invested in mining that this move threatens and they're going to scream about it. IMO Eth2 is the future core of everything in the web3 space.
Re: The Ethereum merge is done
#567This thread is HN jumping the shark for me. The merge is freaking incredible. Switching the engine of a $60 billion financial network in-flight. Permanent power savings the scale of a country. An incredible coordination between a huge number of diverse parties all over the world. Everything open source. And all we get is a rehash of tired old arguments against cryptocurrencies. This was originally a forum for hackers…
I’ve given up on HN understating crypto before they mint some Giga unicorn and everyone understand where the future is. The hive mind here is dangerously anti crypto. It’s the biggest wealth producing opportunity of the next decade or two and HN doesn’t get it at all. It’s basically become a forum for your average developer. I’d bet a lot of folk who don’t understand crypto at all are web developers or something wher…
You complain that HN is a hive mind and suggest that r/Ethereum is a better place?
Re: The Ethereum merge is done
#568Curious, what was the last block, can someone point me to it, want to see how close my few transactions were to the last block
Re: The Ethereum merge is done
#569This thread is HN jumping the shark for me. The merge is freaking incredible. Switching the engine of a $60 billion financial network in-flight. Permanent power savings the scale of a country. An incredible coordination between a huge number of diverse parties all over the world. Everything open source. And all we get is a rehash of tired old arguments against cryptocurrencies. This was originally a forum for hackers…
This is still a forum for hackers, makers and entrepreneurs. We just don't accept Monopoly Money as compensation for work rendered.
One can be critical about cryptocurrencies as currencies, investment or speculative assets and be curious by how the merge was performed.
Re: The Ethereum merge is done
#570I appreciate it wasting less precious energy. But this change also means that "Decentralisation" and "Power to the people" are fading away right? The wealthy actors are the ones dictating the transaction now and they also on top get paid for being rich. This does not sound like a "better financial system" for me. Also, don't forget the DAO Fork[0] where with the "ungovernable Blockhain" it was decided a transaction w…
Every networked system (eth, btc, usd, the internet itself, trade, an economy) has aspects of centralization and decentralization. USD is decentralized in that if enough people stopped attesting to its value or accepting it for trade, the whole thing folds. That doesn't happen precisely because so many people believe in its value. But many aspects of USD and the banking system are opaque: how it is minted, what players are trusted, how much fractional reserve is allowed, etc.
The big difference is how easy it is to step into the game. I'd probably need millions of dollars, oodles of lawyer-hours, a bunch of employees, and a mountain of paperwork, to start a bank and participate in the banking system as a peer. I just need 32Eth (roughly $50kUSD) and some computers to participate as a validator.
The hard fork only "worked" cause enough people went with it. If enough people said "f it, no fork", then the fork still happens, but loses the social capital and thus the old chain "wins".
The internet struggles with ipv6 because not enough nodes support it. Politics breaks down when parties can't reach agreement. I don't know of any system which is truly tolerant to byzantine / 51% attacks.