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Ethereum Isn't Fun Anymore

timdaub.github.io

161–170 of 650 posts

Re: Ethereum Isn't Fun Anymore

#161

Building something useful on something that is primarily used as highly volatile financial speculation instrument always rubbed me the wrong way. The whole crypto scene is just about making quick dough with a technology, that for some reason remains hyped through and wrapped in mysticism. Face it, there is no sexy killer app for the masses. Wait. There is one: Crypto trading to... make quick dough. And the cryptonerd…

After all those years, there's still not a single useful blockchain application around. These days I see lots companies telling me, they put their "supply chain on blockchain" and while I understand what they probably want to tell me ("you can't tamper with where our stuff comes from") I don't see the point in that. If you've got trust issues with your subcontractors you should fix those and not "seal" the willingly…

Cryptokitties is actually great

Re: Ethereum Isn't Fun Anymore

#162

Earlier quoted context omitted.

There's a thriving ecosystem because you are forced to use it. Do you think there wouldn't be a thriving perl ecosystem if perl was the only language you could use to execute code in a web browser?

Very likely; although JavaScript became much more popular after it was available outside the browser, that probably was a factor. It doesn’t affect my argument that it is a thriving ecosystem that has made it worth much more than the negative sentiment it has received in the past, and that it is not a bad choice.

Its a bad choice because you have to use Javascript, and Javascript is a shitty technology akin to Visual Basic.

Collective adoption of a technology doesn't make it 'good'. It makes it 'available'. Those things are not always equivalent.

Re: Ethereum Isn't Fun Anymore

#163
>They announced the "Monero Enterprise Alliance." An inside joke, supposed to piss off other projects that had started to take themselves too seriously. Being slightly confused that day myself, I now can't recall if the effort had ever been successful. But in any case, I can't recommend buying Monero. It's useless.

Why is Monero useless? Is because of transaction fee too high?

Re: Ethereum Isn't Fun Anymore

#164
post #80

Earlier quoted context omitted.

That "for some reason" is that's obvious abd straight forward to anyone being honest and not trying to push propaganda is that Bitcoin, and other blockchains structures like it, are MLM schemes - and that it's decentralized and on a global scale is why it's been able to pick up so much energy - aligning people and industrial complexes globally to bring it mainstream. Design a blockchain system where it's agreed upon…

Can you point to a legitimate problem that “blockchain” can solve, which can’t be solved with existing tools? I think every smart person working on any kind of blockchain-related tech is seriously wasting their talent and life.

There may be existing tools that are foolproof that can provide an immutable ledger, I'm unsure if that's fully possible otherwise, however having all transactions and changes to said system being public would prevent things like nations printing money without reporting it accurately - helping to make sure everyone's playing a fair game; using such a ledger would have to be voluntary, with nations who are aligned with similar values.

Edit to add: This may in fact be the only important use case for blockchain, where nations under different groups of democratic-based control, agree to use the same blockchain - so they can all know no one else is cheating the system. The transparency could allow public, peer analysis of transactions as well - and who knows what insights or protections-security could come from having that crowdsourced witnessing occurring; perhaps distributing the mining amongst the citizens of each nation as well, if deemed necessary as a safeguard.

Serendipitously, this was just posted to HN: "Data Immutability, Verifiability and Integrity Without the Blockchain Overhead" - https://news.ycombinator.com/item?id=26221324

Re: Ethereum Isn't Fun Anymore

#165

Building something useful on something that is primarily used as highly volatile financial speculation instrument always rubbed me the wrong way. The whole crypto scene is just about making quick dough with a technology, that for some reason remains hyped through and wrapped in mysticism. Face it, there is no sexy killer app for the masses. Wait. There is one: Crypto trading to... make quick dough. And the cryptonerd…

What about a voting system? That's the only application of a public, decentralized ledger that can kind of makes sense to me. I'm from Switzerland, every few months we have a public voting for various changes to the federal or cantonal laws. I currently do not have a way to be certain that my vote is taken in account. With a public ledger I can check and be sure that my vote is correct. I'm generally opposed to softw…

I'm against doing electronic voting and tracking [0]. Others have commented on the tracking/anonymous issues, so I'll leave that.

Make the whole system as hard as possible to manipulate by involving a lot of people who distrust the person they're working with.

There is a tiny chance your personal vote will get lost in all the paper handling, but you can be assured that the system is a lot harder to manipulate simply because of the sheer number of people involved.

[0] https://www.youtube.com/watch?v=LkH2r-sNjQs

Re: Ethereum Isn't Fun Anymore

#166
post #64

I really, really don't understand where cryptocurrencies are going. Billions have been poured in this technology for almost no actual return technologically wise. And I understand, because interest are not aligned. It really seems like nobody actually care about advancing the state of art, except actual researcher who work in universities and not in crypto startups... Cryptocurrencies had a goal and a usefulness when…

IOHK who is behind Cardano does quite a lot of scentific research and formalized and developed innovative concepts: https://iohk.io/en/research/library/.

It's still very experimental and yes, there are no clear applications yet, but there is some genuine research being made.

Re: Ethereum Isn't Fun Anymore

#167
post #80

Earlier quoted context omitted.

That "for some reason" is that's obvious abd straight forward to anyone being honest and not trying to push propaganda is that Bitcoin, and other blockchains structures like it, are MLM schemes - and that it's decentralized and on a global scale is why it's been able to pick up so much energy - aligning people and industrial complexes globally to bring it mainstream. Design a blockchain system where it's agreed upon…

Can you point to a legitimate problem that “blockchain” can solve, which can’t be solved with existing tools? I think every smart person working on any kind of blockchain-related tech is seriously wasting their talent and life.

> Can you point to a legitimate problem that “blockchain” can solve, which can’t be solved with existing tools?

I will never understand this. The vast majority of problems have more than one solution, most of the time is just about solving something in a (much) better way.

If the bar for something to exist is "solve a problem that can't be solved with existing tools" then 99% of startups wouldn't exist.

Re: Ethereum Isn't Fun Anymore

#168

Building something useful on something that is primarily used as highly volatile financial speculation instrument always rubbed me the wrong way. The whole crypto scene is just about making quick dough with a technology, that for some reason remains hyped through and wrapped in mysticism. Face it, there is no sexy killer app for the masses. Wait. There is one: Crypto trading to... make quick dough. And the cryptonerd…

After all those years, there's still not a single useful blockchain application around. These days I see lots companies telling me, they put their "supply chain on blockchain" and while I understand what they probably want to tell me ("you can't tamper with where our stuff comes from") I don't see the point in that. If you've got trust issues with your subcontractors you should fix those and not "seal" the willingly…

Putting supply chain on a blockchain isn't about verifying the authenticity of the goods. Its about being able to buy and sell the goods at any time, hedge out price risk, etc.

Re: Ethereum Isn't Fun Anymore

#169
post #108
post #48

Earlier quoted context omitted.

> Tech behind Ethereum is outdated. Well Eth 2.0 is applying the latest and the greatest in Crypto research to a real coin. In terms of scalabliltiy Ethereum is already way past bitcoin slow transaction rates.

The idea of a new version of your currency somewhat speaks against the utility of the whole thing surely?

Why Does it speak against its utility to update to a new version? what is the problem with printing a new dollar bill, or everyone using windows 10 instead of windows seven?

Re: Ethereum Isn't Fun Anymore

#170
post #93

Earlier quoted context omitted.

You'll be back. The fundamentals are strong and the technology is genuinely interesting, and real world use cases like Sia's Skynet are starting to finally hit stride. The get rich quick crowd overwhelmed everything else but didn't suffocate it, just merely put it way in the background.

You're missing the point, which was "there's nothing for the masses". Interesting technology is not a selling point for the masses. Strong fundamentals are not a selling point for the masses. Whether there's a get rich quick crowd around crypto (or not) is not a selling point for the masses.

The haber process feeds 4 billion people, and most don't know it exists. Not everything needs to be sold and popularised to the masses.
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