What is Ethereum? Something like Bitcoin?
Similar, with much more powerful scripting.
Germany's Energy Giant Launches Ethereum-Based Electric Car Charging Stations
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Re: Germany's Energy Giant Launches Ethereum-Based Electric Car Charging Stations
#12Wasn't Ethereum unusable for a a decent percentage of 2017 so far? " charging and billing solution with no middleman is created.” The ethereum network is a middleman, that has fees and downtime, and the unknowable risk of future forks, downtime and client software choice incompatibilities. This is their "wallet" https://shareandcharge.com/ which also, as for no other middleman free things, wants you to use the appsto…
Ethereum is an autonomous AI middleman, but yes it is a middleman. One whose plans and actions you can determine determinalistically. > Cash is King The value of cash is subject to the whims of the issuer. The value of a cryptocurrency is subject to the whims of a global market. They can also be trivially "forked" by creating colored coins which allow you to create a slightly different autonomous AI currency, if the…
1. They only accept euros. So you get to multiply the euro risk times the ethereum risk times their oracle keeping your balance on ethereum risk.
2. Ethereum has already human intervention rolled back millions of dollars of transactions in "the dao" and they chosen winning and losing implementations whenever there's a network split due to their dual codebases trying to be bug for bug perfect in consensus.
3. You can't increase security or reduce risk, by layer abstractions on top of other things, in this case, the euro.
Smart contracts should never be referred to as "trivial" for many the millions of dollars has been lost over bugs missed in testing.
Colored coins is what VISA already does really really well, with higher uptime, larger network effect, and hell even PCI DSS "security" standards.
I love crypto, especially when it makes things better, not worse.
Re: Germany's Energy Giant Launches Ethereum-Based Electric Car Charging Stations
#13What is Ethereum? Something like Bitcoin?
Yes it is.
There are actually many different cryptocurrencies (sometimes called altcoins) out there, here is a list of over 700:
http://coinmarketcap.com/
Ethereum is probably the second most important one after bitcoin.
Re: Germany's Energy Giant Launches Ethereum-Based Electric Car Charging Stations
#14Do they know that all transactions will be public and great resource for competitors? Do they know that blockchain transactions need few confirmations to be trusted and mining takes time?
The clever way would be to use payment channels, then it's instant and somewhat private.
Re: Germany's Energy Giant Launches Ethereum-Based Electric Car Charging Stations
#15I don't trust Ethereum. Who's behind it? Are there any backdoors? Why not Bitcoin?
It has the second-biggest market cap at $6 billion, it's been in production for a couple years, it has multiple open source implementations, its inventors and other developers are known to the public, it has much more powerful smart contract capabilities than Bitcoin, and it doesn't have high fees and backlogs.
The multiple implementations exponentially increase the breakdown of consensus. The network is literally unusable often. Their consensus is so bad, that the last breakdown of consensus created the nunber 6 crypto marketcap "currency" "etherum classic" which has "value" of $485 million as this is written.
It has no high fees, for there is no demand for what it does, and if there was demand, no limit to the supply to fill it. Have they decided how much "gas" it takes to run things yet, or are they still manually humanly moving that number around, you know, the only number that would give an ETH any scarcity and thus upward price potential?
NASA knows how to build software that is unlikely to fail, and saves or costs human lives. Little to none of the lessons NASA has learned regarding mission critical software development is used by Ethereum. Being turning complete is the enemy of consensus. The halting problem pretty much makes writing smart contracts that do what you want and nothing else in a turing complete language extremely difficult to the point of near impossiblity.
Thus, ETH may some day be useful for something, but making ETH tokens valuable isn't one of those things.
Re: Germany's Energy Giant Launches Ethereum-Based Electric Car Charging Stations
#16Wasn't Ethereum unusable for a a decent percentage of 2017 so far? " charging and billing solution with no middleman is created.” The ethereum network is a middleman, that has fees and downtime, and the unknowable risk of future forks, downtime and client software choice incompatibilities. This is their "wallet" https://shareandcharge.com/ which also, as for no other middleman free things, wants you to use the appsto…
Ethereum is an autonomous AI middleman, but yes it is a middleman. One whose plans and actions you can determine determinalistically. > Cash is King The value of cash is subject to the whims of the issuer. The value of a cryptocurrency is subject to the whims of a global market. They can also be trivially "forked" by creating colored coins which allow you to create a slightly different autonomous AI currency, if the…
Imagine every service station across now accepts Bitcoin or Ethereum. Ten years pass. Most vendors now have 10-ish year old Point Of Sales systems.
How are you going to convince everyone to upgrade their POS (either software upgrade or potentially requiring a hardware upgrade) to accept your newly forked cryptocurrency.
Generally speaking, the point of currency is to be able to exchange it for goods or services. That is the main need which people want their currency to do.
The value of cash is closely linked to the value of that denomination on the global market also, so I don't believe cryptocurrency is any different in that respect.
Re: Germany's Energy Giant Launches Ethereum-Based Electric Car Charging Stations
#17Earlier quoted context omitted.
Ethereum is an autonomous AI middleman, but yes it is a middleman. One whose plans and actions you can determine determinalistically. > Cash is King The value of cash is subject to the whims of the issuer. The value of a cryptocurrency is subject to the whims of a global market. They can also be trivially "forked" by creating colored coins which allow you to create a slightly different autonomous AI currency, if the…
1. They only accept euros. So you get to multiply the euro risk times the ethereum risk times their oracle keeping your balance on ethereum risk. 2. Ethereum has already human intervention rolled back millions of dollars of transactions in "the dao" and they chosen winning and losing implementations whenever there's a network split due to their dual codebases trying to be bug for bug perfect in consensus. 3. You can'…
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Re: Germany's Energy Giant Launches Ethereum-Based Electric Car Charging Stations
#18Do they know that all transactions will be public and great resource for competitors? Do they know that blockchain transactions need few confirmations to be trusted and mining takes time?
id I remember correctly the etherium blockchain adds a block every 10 seconds
Re: Germany's Energy Giant Launches Ethereum-Based Electric Car Charging Stations
#19Do they know that all transactions will be public and great resource for competitors? Do they know that blockchain transactions need few confirmations to be trusted and mining takes time?
No they probably didn't do any research before launching this project.
Re: Germany's Energy Giant Launches Ethereum-Based Electric Car Charging Stations
#20Earlier quoted context omitted.
Ethereum is an autonomous AI middleman, but yes it is a middleman. One whose plans and actions you can determine determinalistically. > Cash is King The value of cash is subject to the whims of the issuer. The value of a cryptocurrency is subject to the whims of a global market. They can also be trivially "forked" by creating colored coins which allow you to create a slightly different autonomous AI currency, if the…
Imagine every service station across now accepts Bitcoin or Ethereum. Ten years pass. Most vendors now have 10-ish year old Point Of Sales systems. How are you going to convince everyone to upgrade their POS (either software upgrade or potentially requiring a hardware upgrade) to accept your newly forked cryptocurrency. Generally speaking, the point of currency is to be able to exchange it for goods or services. That…
I probably wouldn't need most or even many to use my currency. If I wanted a general purpose currency I'd use one of the extant ones.
You only need two users to have a healthy currency.