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I really don’t like this whole industry, and I cannot see how anyone would. It’s like a cult.
Regardless of the current issues with the updates, gas prices, different opinions on the community, devs vs miners vs users... Am I the only one who thinks people underestimate Ethereum and its EVM invention? In 2013 this guy (who I think is a visionary) wrote a document with a proposal that led to the creation of a world-wide turing-complete distributed computer. And still, people are just starting to realize its po…
The EVM is a natural extension of bitcoin's scripting system. Here's the original Ethereum whitepaper, Vitalik cites all sorts of pre-Ethereum work: https://github.com/ethereum/wiki/blob/old-before-deleting-al... There were tokens (Colored Coins) and Dexs (Omni) running on Bitcoin before ETH was launched.
Colored coins were a neat idea but completely impractical in practice. Hence, why they never took off. Bitcoin script is far too limiting to build expansive applications on.
Every time I read about anything related to cryptocurrency it reads like a high-school opera. With several orders of magnitude more money involved. I really don’t like this whole industry, and I cannot see how anyone would. It’s like a cult.
> There are a wide variety of benefits to this proposal, such as potentially making Ethereum deflationary Interesting that this is framed as a benefit.
Also, most Ethereum based projects depend on ETH reserves to fund their operations, so ETH appreciation provides more resources to develop Ethereum applications.
Earlier quoted context omitted.
As an ETH user and holder (and former miner), I want Ethereum 2.0. Describing it as a fork is ridiculous. Proof of stake is the future and miners have known that for years. Proof of work is a dead end that ends with a Dyson sphere harvesting all power from the sun to process a few transactions. If miners want to make another Ethereum Classic dead chain let them do so. The innovation, the users, and all the developers…
> ends with a Dyson sphere ... Just because too much of a thing is bad doesn't mean the thing is bad in lower quantities. Drinking ten liters of water in an hour is bad. That doesn't mean you shouldn't drink any water.
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Never underestimate the efficiency with which money launderers and organized crime are able to innovate and adapt.
It's easy to spot the people not knowledgeable in crypto when they just parrot the media's fear mongering narratives.
It sounds like the Ethereum "community" is about decide whether it believes in proof of work or the cult of Vitalik.
Every time I read about anything related to cryptocurrency it reads like a high-school opera. With several orders of magnitude more money involved. I really don’t like this whole industry, and I cannot see how anyone would. It’s like a cult.
You seem to have described nations and religions as well. It applies to anything with a large number of interest groups involved
I'm one of the maintainers of one of the implementations of eth2 live today ( https://github.com/prysmaticlabs/prysm ) and can help offer more context on this. Ethereum proof of stake has been live since December 1st and it currently secures over 6 billion USD worth of value https://beaconcha.in/ . Currently, this is a chain that lives in parallel to the proof of work chain we know as Ethereum today. The idea is that…
Earlier quoted context omitted.
It's not really in the hands of one person, though. If the community diverges, two chains will be created, and the one will the most value will be considered the 'real' chain. This already happened once, and the less-popular chain became known as 'Ethereum Classic.' It's still around.
Less-popular and original, interestingly in this case.