Why Ethereum is outpacing Bitcoin • Hacker News Board

Re: Why Ethereum is outpacing Bitcoin

#101

Post by whazor » Tue, Jun 13, 2017, 7:27 PM UTC

Animats wrote: post #51

This is an ad. "Jack du Rose is a cofounder of Colony, an Ethereum-based operating system for open organizations." Whatever that is. (It seems to be a scheme for monetizing StackOverflow rankings.[1] Or something like that. If it even exists. The web site is all pretty pictures with no content.) Most altcoins crash after a while. See Coin Market Cap.[2] [1] https://colony.io/ [2] https://coinmarketcap.com/

Colony is a well known organisation in the Ethereum community. Giving presentations on multiple devcons of Ethereum. Knowing that they have been around for a while gives him the authority to share his opinion.

Re: Why Ethereum is outpacing Bitcoin

#102

Post by drcode » Tue, Jun 13, 2017, 7:30 PM UTC

nemo44x wrote: post #87

It's simple - Bitcoin is stagnant and full of politics and holy wars where as ETH is implementing everything Bitcoin promised 5 years ago. Bitcoin is facing an existential crisis August 1st (UASF) that some view as liberation and others as extortion. As if BTC wasn't high risk enough! Yes we haven't seen a single ICO that has resulted in anything worth anything yet and we probably shouldn't any time soon. Yes the ris…

Nicely said!

And we should add to that that the exciting parts of ethereum may never fully exist in ethereum itself: It's totally plausible that this tech could instead be adopted by another project before becoming wildly successful. However, this doesn't make ethereum tech any less interesting.

Re: Why Ethereum is outpacing Bitcoin

#103

Post by someSven » Tue, Jun 13, 2017, 7:31 PM UTC

SCAQTony wrote: post #36

dpc_pw wrote: post #9

The whole reason why Ethereum is "outpacing" Bitcoin is easiness of taking money from clueless "investors" that feel like they missed the boat on becoming rich through Bitcoin. https://medium.com/@WhalePanda/i-was-wrong-about-ethereum-80... It's going to be a big mess, one this bubble pops.

WhalePanda in not an economist, not a digital coin developer, nor a professional coin analyst. At his website he describes himself as: "...I’m a Belgian Brand/Online Marketing/UX consultant with a passion for Bitcoin..." https://twitter.com/WhalePanda?ref_src=twsrc%5Egoogle%7Ctwca... Obviously partial to bitcoin but has no more "street cred" that I do: "a California fine artist, UI designer, with a passion for Ethere…

> What does he or most people use bitcoin for?

Bitcoin was ment to be money which is good in the store of value part. Etherum has a higher inflation for all I know, and it is not primarily meant to be money.

Re: Why Ethereum is outpacing Bitcoin

#104

Post by problems » Tue, Jun 13, 2017, 7:37 PM UTC

root_axis wrote: post #89

zefman wrote: post #81

Earlier quoted context omitted.

> Ethereum is actually a platform for new kinds of decentralized (often financial) applications (dApps) that run on a peer-to-peer network of computers There are a few very interesting things in the pipeline. Here are a few: https://golem.network/ https://status.im/ https://gnosis.pm/ https://basicattentiontoken.org/ https://augur.net/

> in the pipeline And that's the crux of it. As I said, I'm yet to see anything that's actually useful . There are a lot of claims about all the amazing things that will be possible at some point in the future, but besides internet gambling, I've yet to see a demonstration or even a coherent explanation of something useful that these systems are capable of that isn't already possible and less complex with existing sy…

Indeed, most of the things created on the Ethereum platform are just shittier versions of things that exist - while decentralization can be a huge boon to some things it needs to combat its inherent complexity increase for users. Ethereum does not lend itself well to that, as such almost everyone is there for a get-rich-quick scheme, not for the higher applications on its platform.

Wait for the hype to run out, then look at it again when it's not at a peak value.

Re: Why Ethereum is outpacing Bitcoin

#105

Post by Kiro » Tue, Jun 13, 2017, 7:40 PM UTC

root_axis wrote: post #89

zefman wrote: post #81

Earlier quoted context omitted.

> Ethereum is actually a platform for new kinds of decentralized (often financial) applications (dApps) that run on a peer-to-peer network of computers There are a few very interesting things in the pipeline. Here are a few: https://golem.network/ https://status.im/ https://gnosis.pm/ https://basicattentiontoken.org/ https://augur.net/

> in the pipeline And that's the crux of it. As I said, I'm yet to see anything that's actually useful . There are a lot of claims about all the amazing things that will be possible at some point in the future, but besides internet gambling, I've yet to see a demonstration or even a coherent explanation of something useful that these systems are capable of that isn't already possible and less complex with existing sy…

You could have said the same thing about many things that in the end resulted in a technological paradigm shift. Ethereum is only a couple of years old.

Re: Why Ethereum is outpacing Bitcoin

#106

Post by lossolo » Tue, Jun 13, 2017, 7:42 PM UTC

root_axis wrote: post #37

> As a “hard fork” looms, which looks set to split Bitcoin into two separate currencies that will have to fight for custody of the Bitcoin moniker This already happened to eth when the creators hard forked the chain in an effort to roll back operations of an eth application that was used in a way that the creators did not anticipate. If this didn't kill ethereum why would it be a problem for bitcoin? Fortunately for…

> just toy applications that have no practical purpose

What? Look at all the ICOs:

https://mona.co/

and this:

http://www.coindesk.com/150-million-tim-draper-backed-bancor...

and here more:

https://www.coingecko.com/ico?locale=en

Re: Why Ethereum is outpacing Bitcoin

#107

Post by AstralStorm » Tue, Jun 13, 2017, 7:44 PM UTC

wayn3 wrote: post #66

avaer wrote: post #56

Earlier quoted context omitted.

I'd argue the value of the computation is strictly less than zero, because I could do it cheaper without using Ethereum at all.

thats like saying that the value of gasoline is less than zero because you could just walk the distance without polluting the environment. computing power is inherently valuable. the value of AWS is less than zero because you could just buy a computer and do the computation cheaper at home. duh.

Not if you factor in support costs you wouldn't. (Or sunk equipment costs for small scales.)

Gasoline allows one to use large amounts of power at the same time, say, to run a generator, start a power plant or run power tools for construction.

Bitcoin is not useful in and of itself as the current system of transactions is perfectly workable.

On the other hand, try running power tools on solar power... (including making the huge batteries and plastics)

Re: Why Ethereum is outpacing Bitcoin

#108

Post by root_axis » Tue, Jun 13, 2017, 7:44 PM UTC

Kiro wrote: post #105

root_axis wrote: post #89

Earlier quoted context omitted.

> in the pipeline And that's the crux of it. As I said, I'm yet to see anything that's actually useful . There are a lot of claims about all the amazing things that will be possible at some point in the future, but besides internet gambling, I've yet to see a demonstration or even a coherent explanation of something useful that these systems are capable of that isn't already possible and less complex with existing sy…

You could have said the same thing about many things that in the end resulted in a technological paradigm shift. Ethereum is only a couple of years old.

This is a pointless observation because you could have also said the same thing about all the useless crap that never amounted to anything.

Re: Why Ethereum is outpacing Bitcoin

#109

Post by Kiro » Tue, Jun 13, 2017, 7:48 PM UTC

root_axis wrote: post #108

Kiro wrote: post #105

Earlier quoted context omitted.

You could have said the same thing about many things that in the end resulted in a technological paradigm shift. Ethereum is only a couple of years old.

This is a pointless observation because you could have also said the same thing about all the useless crap that never amounted to anything.

Your observation is equally pointless. You're the one using it as an argument though.

Re: Why Ethereum is outpacing Bitcoin

#110

Post by someSven » Tue, Jun 13, 2017, 7:50 PM UTC

brianwawok wrote: post #45

avaer wrote: post #35

Earlier quoted context omitted.

Prices continually rising is an argument for how this _is_ tulips. The valid counterargument would be that the tulips are largely being used for something other than trading tulips.

Tulips have SOME intrinsic value. If doomsday comes, the world is over.. a toolip can be planted outside your house and it looks a little bit more pretty. Or maybe you can eat it. Gold has SOME intrinsic value. It is very good for certain applications, I believe trace amounts are used in compute parts. Worst case you can make something shiny to look at, that will be rust proof and easy to shape. What is the intrinsic…

> What is the intrinsic value of ETH or Bitcoin? It literally has nothing to back it.

The brand and the places where you can pay or donate with it, or exchange it. The fact that it can't be seized by the authorities, the limit on inflation wired into the software and system. And thats most likely not all of it.