Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Ethereum Has Issues

blog.dshr.org

Post reply on HN
Print view View original

101–110 of 377 posts

Re: Ethereum Has Issues

#101

Post by rufusroflpunch »

pshc wrote: post #96
rufusroflpunch wrote: post #92

This is not directly related to the content of the post but is about Ethereum. I have been putting this hypothesis out there on twitter for a while now, looking for someone to refute me, but no one has yet. This seems like a place where I might be able to find someone who understand Ethereum enough tell my grasp of the protocol is wrong (or right): Ethereum is going deflationary. Not disinflationary like Bitcoin, but…

Staking pays all stakers out proportional to their stake, which is as fair as is possible, and more fair than PoW. Distributed staking pools lower the barrier to entry to 0.01 ETH. Ethereum will still be printing ETH in perpetuity; it only becomes deflationary whenever more is burned than printed.

> Staking pays all stakers out proportional to their stake, which is as fair as is possible, and more fair than PoW. Distributed staking pools lower the barrier to entry to 0.01 ETH.

This doesn't change the economics of what I said, which are about opportunity cost of staking vs. spending.

> Ethereum will still be printing ETH in perpetuity; it only becomes deflationary whenever more is burned than printed.

I understand this. But what I've been hearing from ETH holders forever now, is that ETH will be going deflationary. As in, burning more ETH than printing is something will definitely be happening. It's the bedrock of the flipping narrative.

Re: Ethereum Has Issues

#102

Post by drcode »

carlosdp wrote: post #20

> The long-term effort to implement "sharding" in Ethereum 2.0, which in effect parallelizes the operation of the blockchain. This effort is effectively dead, for what it's worth. We've moved beyond this, it was going to over-complicate things and Layer 2 is a much better scaling solution that is already starting to work in production.

It's not dead, data sharding (not execution sharding) is very much part of the plan https://notes.ethereum.org/@vbuterin/proto_danksharding_faq

Execution sharding is also still planned, though right now it is in the hazy distant future

Re: Ethereum Has Issues

#103

Post by mgamache »

Animats wrote: post #23

The system is functioning as designed. The suckers are being fleeced. It is in the nature of markets to move money from the many to the few .

It is the nature of nature to move resources from the many to the few.

Re: Ethereum Has Issues

#105

Post by danans »

thebean11 wrote: post #71
cuteboy19 wrote: post #66

Earlier quoted context omitted.

In DeFi to take out a loan of $100 you need to have collateral worth $200 or more. If the value of the collateral ever goes below $200 then it is immediately autosold. Moreover the collateral has to be on the blockchain as well, so concrete assets like houses cannot be used for this purpose. The main issue with insurance is actually assessment. All smart contracts do is replace execution, which was never a hassle to…

For sure, DeFi loans aren't practical at the moment (for anything but speculation), and may never be practical for something like a mortgage or even a credit card. I still find it pretty mind blowing that an algorithm can loan me money. For insurance I don't agree. Something basic like weather insurance (widely used in agriculture) is already possible. The hardest part is getting the weather information onchain in a…

> The hardest part is getting the weather information onchain in a way that's trusted by the buyers and sellers of the insurance.

So the hardest part is trust, the very thing that blockchains supposedly make unnecessary?

Re: Ethereum Has Issues

#106

Post by toolz »

px43 wrote: post #70

Ha, Flash Boys 2.0 was from 2019. This blog post is literally "I read a thing from three years ago and have lost faith in something that I never believed in in the first place". As someone who knows and has worked with all the people involved with the write-ups referenced in this blog post, I can pretty confidently say that the author is way way behind here. There have been some insane advancements in recent years th…

Do we have to accept that MEV is a problem? Just because it's been a tactic used in the shadows with traditional finance doesn't mean it's a problem in an open ecosystem where anyone willing to pay can play. There isn't some shadow elite funding a central government here lobbying for restrictive legislation to keep competition at arms length. In my opinion the crypto ecosystem in general is much more understanding and capable of finding ways to distribute information and trust, which prevents this from becoming a bad thing like we see in traditional finance.

Re: Ethereum Has Issues

#107

Post by sl3232323 »

px43 wrote: post #70

Ha, Flash Boys 2.0 was from 2019. This blog post is literally "I read a thing from three years ago and have lost faith in something that I never believed in in the first place". As someone who knows and has worked with all the people involved with the write-ups referenced in this blog post, I can pretty confidently say that the author is way way behind here. There have been some insane advancements in recent years th…

No post body was provided.

Re: Ethereum Has Issues

#108

Post by chrisco255 »

grafs50 wrote: post #48
chrisco255 wrote: post #38

Earlier quoted context omitted.

What kind of quote is that? Markets are clearly many-to-many by definition. Money doesn't even have a meaning or value without markets. It's just paper without markets.

I think the idea is that "more capable" participants tend to make money off of "less capable" participants. And there are a lot more of the "less capable" ones.

Markets are like ecosystems, they are an emergent property of the aggregated activity of many participants. Yes, some of those participants will end up at the top of the food chain. But that's going to happen regardless of what you do.

Re: Ethereum Has Issues

#109

Post by hamilyon2 »

delaaxe wrote: post #77
bulbosaur123 wrote: post #28

What useful has Ethereum created apart from providing an ever-bloating platform for generation of infinite digital-only tokens? As of 2022 the oracle problem still hasn't been solved, so actual decentralized, objective real life object-to-blockchain interaction is impossible. Monero added fully anonymous crypto that is used by most of the dark web. USDT, USDC provided stablecoins that can circumvent what fiat can't.…

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

Read their white paper. Looks like secure computation with extra steps.

Re: Ethereum Has Issues

#110

Post by jmyeet »

jerry1979 wrote: post #84
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…

What is a Crypto Andy?

It comes from Twitch [1]. While it often refers to streamers, it has transcended that. An andy is someone who is identified by whatever adjective is applied. So a Crypto Andy is someone who is all and only about crypto, basically.

Put another way: Andys are indistinguishable from each other apart from one defining characteristic. And those Andys with that characteristic are likewise indistinguishable and interchangeable.

[1]: https://knowyourmeme.com/memes/andy-slang

Post reply on HN