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Ethereum has blobs. Where do we go from here?

vitalik.eth.limo

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Re: Ethereum has blobs. Where do we go from here?

#451

Post by shuntress »

maxcoder4 wrote: post #273
shuntress wrote: post #201

Earlier quoted context omitted.

"Bitcoin but its anonymous" does not make Monero a real currency. I guess it helps that its value is relatively stable. But I still can't realistically use it. I can't walk in a store, buy something, then pay with Monero which is obviously disqualifying on it's own. But in addition to that, if I want to give a friend some Monero I would have to walk them through making a new account with some new app which they won't…

I can't walk into a store and pay with USD either. It doesn't mean USD is not a currency, it's just not usually accepted by stores in my country. I use Monero semi-regularly to pay for things online (usually privacy products, because sadly nobody is interested in selling me groceries in exchange for xmr). You can absolutely buy things with it.

You can pay for things online with V Bucks as regularly as you like that doesn't make it a real currency.

Re: Ethereum has blobs. Where do we go from here?

#452

Post by everfree »

SideburnsOfDoom wrote: post #386
everfree wrote: post #271

Earlier quoted context omitted.

> People need to look outside of the USA to understand the state of the art. And yet people need only to look down at their smartphone, no matter where in the world they are located, to understand the state of the art in public ledgers.

Regarding "unbanked" people who are "anywhere in the world" but have " their smartphone": Cryptocurrency is not only the wrong product, but also in this case a future functionality would be the wrong time. The market gap for that has closed already due to better systems including M-PESA As I mentioned here: https://news.ycombinator.com/item?id=39857944 The consistently ignorant rhetoric here on HN about this supposed…

Looks like it's not available in my country.

Re: Ethereum has blobs. Where do we go from here?

#453

Post by everfree »

angry_albatross wrote: post #428
maxcoder4 wrote: post #180

Earlier quoted context omitted.

>More generally, I would say that Etherium itself is mostly nonsense. It's "Ethereum". You can't even write the name of the project correctly, so how can I trust you expertise on that? >I will admit I don't understand very well what the purpose of the "blobs" are But we're talking under a link to a post about blobs? Sounds like an important context. >from my perspective the entire idea of blockchain technology is not…

> Instead of trying to discuss that (and I could) - on HN there are plenty links to thinks I don't consider useful, like retrocomputing, programming in AGDA or yet another rust rewrite of some tool. I don't go around and leave nonproductive comments there, i just don't click them. Why do you feel a need to do so? Mostly because unlike those other examples, cryptocurrency is actively doing harm to society by accelerat…

> accelerating climate change, enabling various forms of crime, and doing financial damage to many people who have been convinced to put their savings into various ponzi schemes

Bitcoin accelerates climate change - no other cryptocurrency has a measurable environmental impact. The internet also enabled various forms of crime. Bank wires do financial damage to people who invest in ponzi schemes, in more volume than blockchain transactions do if I'm not mistaken.

Basically, I don't look at distributed ledger systems and think immediately of all the crimes that they enable. But I also don't look at a knife and immediately think of all the crimes that have been committed with knives. On the other hand though I've never known anyone who was a victim of a knife-related crime, so perhaps my opinion would be different if that were the case.

Re: Ethereum has blobs. Where do we go from here?

#454

Post by evantbyrne »

godelski wrote: post #426
evantbyrne wrote: post #410

Earlier quoted context omitted.

Well everyone pays an extra ~3% on all of their transactions for that privilege, plus whatever costs retailers factor in for rampant credit card fraud. I wouldn't consider Visa the gold standard of how financial transactions should work the whole system is very clunky and prone to abuse.

> Well everyone pays an extra ~3% You do realize crypto currencies have transaction fees, right? Yes, I'm willing to pay for goods and services.

Not 3%! That's a lot of lost spending power for the privilege of having your insecure cc number stolen at a gas pump.

Re: Ethereum has blobs. Where do we go from here?

#455

Post by MisterBiggs »

willmadden wrote: post #246
rglullis wrote: post #139

Earlier quoted context omitted.

One of the things that made me less skeptical of Ethereum was that Vitalik has consistently argued based on his view of "Ether as digital oil to power the blockchain", which is to say that the point is not to just hodl, but to create a core technology that can enable different applications. I still think that we should not forget the "I need a censorship-proof way to send money to someone overseas" story, but mostly…

That's what Bitcoin used to be about, before its development team was taken over and it was crippled.

The ecosystem is managed by rentseekers that make huge profits off of the broken congested state of Bitcoin.

Re: Ethereum has blobs. Where do we go from here?

#456

Post by hot_gril »

dewey wrote: post #379
DennisP wrote: post #302

Earlier quoted context omitted.

Key redundancy and social recovery are pretty much solved problems in crypto.

On a technical level, not a human level.

Exactly. I've held large amounts of Bitcoin for years but always been too intimidated by hardware wallets or the fancier security schemes. It takes time to learn and try that stuff to the point of 100% trusting it, and I'd rather be called obtuse than overconfident like this guy: https://www.reddit.com/r/TREZOR/comments/s9lgyy/5eth_bounty_...

My solution in the end hinged on a paper recovery phrase, stored in... a bank.

Re: Ethereum has blobs. Where do we go from here?

#457

Post by hot_gril »

troupo wrote: post #390
ArtTimeInvestor wrote: post #77

Earlier quoted context omitted.

Even if you can send $1. Users dislike paying on the web because it is a security risk. Because of this insane system of credit cards, where you give the other party a "secret" which enables them to take the money from you. If you could just send the money, the barrier to pay would be 100x lower. Most websites pay the bills via ads. And make less than $0.001 per visitor. If they could sell a monthly membership for a…

> Users dislike paying on the web because it is a security risk. I wonder how small independent sites like Amazon and eBay exist then if people dislike paying on the web because of the security risk. The reality is that people have literally no problem paying for stuff on the internet.

Because Amazon and eBay aren't small independent sites. Those stored payment methods and user trust are quite valuable to both.

Re: Ethereum has blobs. Where do we go from here?

#458

Post by troupo »

hot_gril wrote: post #457
troupo wrote: post #390

Earlier quoted context omitted.

> Users dislike paying on the web because it is a security risk. I wonder how small independent sites like Amazon and eBay exist then if people dislike paying on the web because of the security risk. The reality is that people have literally no problem paying for stuff on the internet.

Because Amazon and eBay aren't small independent sites. Those stored payment methods and user trust are quite valuable to both.

The joke just wooshed past you :)

Re: Ethereum has blobs. Where do we go from here?

#459

Post by PKop »

rglullis wrote: post #399
PKop wrote: post #340

Earlier quoted context omitted.

>they hoped it could be used for day-to-day value transfers And they said this, including Satoshi. Yes they were wrong, but they said it. >Now, it isn't It's never been unique, because every coin has said it including, as you have mentioned in every response so far, Bitcoiners. You've also said Eth guys have said. What are we left with? Every other **coin has obviously said it. I'm not arguing they all mean it, or th…

> I'm not arguing they all mean it, or they've been right. I'm arguing they all said it. Then this whole discussion is pointless. Why should we care about what people say or believe, unless it can be backed by their actions? Instead of putting them all in the same bucket because on what they said , let's judge them based on what they did . And Vitalik has consistently shown that his work is aligned with the stated pl…

You started the thread by saying you trust the intentions of a coin project based on them saying they're not in it for the money.

I just meant to point out that this was no special characteristic, as they all have done this. "Crypto" has been professing "use cases" since the beginning.

>Then this whole discussion is pointless.

Yes it certainly was, since you wanted to argue that you believe him, yet got caught up in trying to refute for some reason the point that they all say it. You say trust actions instead. Great, as long as we agree words are irrelevant particularly when they all say the same thing.

Re: Ethereum has blobs. Where do we go from here?

#460

Post by rglullis »

wslh wrote: post #424
rglullis wrote: post #412

Earlier quoted context omitted.

I didn't mention Algorand because its overall network is a blip compared with Ethereum and Solana in any metric, and it can barely be considered as Battle-Tester in a "real world" scenario.

Do you have a paper for that?

TVL for Algorand, 111M USD: https://defillama.com/chain/Algorand

TVL for Ethereum, 53B USD: https://defillama.com/chain/Ethereum

If doing DeFI on Algorand is so much better/cheaper than on Ethereum, then why is it only 1/500th of Ethereum's size?

Mind you, it seems that this calculation is not attributing "bridged" TVL as related to the chain size and activity. If it were, there are 330 Billion USD that depend on Ethereum's base layer security.

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