Ethereum 2.0 launches • Hacker News Board

Re: Ethereum 2.0 launches

#61

Post by louwrentius » Tue, Dec 01, 2020, 2:01 PM UTC

speeder wrote: post #53

louwrentius wrote: post #46

I don't understand this. I don't understand any of it. I don't understand cryptocurrencies. I don't understand what problems they really solve. > "Ethereum is open access to digital money and data-friendly services for everyone – no matter your background or location. It's a community-built technology behind the cryptocurrency ether (ETH) and thousands of applications you can use today." I can do all these things alr…

As for Ethereum itself: It is basically a distributed computing platform designed to handle money, idea is you make a program that handles money, and it runs in a decentralized manner, this way noone can interfere with it, for example you could make a program that tells the users the password to login on a dissident newspaper if they donate something, since it is decentralized the government would have a harder time…

I read a lot of difficult words that I can't relate to.

What does this mean for the average citizen in America or Europe?

Also, I read this:

> Ethereum clients use a listener (TCP) port and a discovery (UDP) port, both on 30303 by default. > If you need to run JSON-RPC, you'll also need TCP port 8545. Note that JSON-RPC port should not be opened to the outside world, because from there you can do admin operations.

Sounds like quite easy to block by any government.

Or just cut off internet access at all.

Re: Ethereum 2.0 launches

#62

Post by IronRanger » Tue, Dec 01, 2020, 2:01 PM UTC

Sargos wrote: post #41

tormeh wrote: post #31

Is it still deflationary? Wondering if I should invest in the coin itself (which makes sense for deflationary coins) or a company doing something with it (which makes sense for an inflationary coin)

BTC (2%) and ETH (4.5%) are both inflationary right now and have never been deflationary. BTC will be inflationary until about 100 years from now. ETH is a bit more complex but in about a year when it switches from proof of work to proof of stake the inflation will drop to <1%. When EIP-1559 is implemented next year then most of the transaction fees are burned which will likely drop the inflation rate into the negati…

You forgot USD (30%)

Re: Ethereum 2.0 launches

#63

Post by brighton36 » Tue, Dec 01, 2020, 2:01 PM UTC

louwrentius wrote: post #54

xiphias2 wrote: post #52

Earlier quoted context omitted.

Ethereum is very different from Bitcoin, so this comment is offtopic, and it's tackling a different problem space, but if you are really interested, I'm reading the Bitcoin Standard book, and I can recommend it if you really want to understand what problem Bitcoin solves. There's no simple answer, only learning about the history of money and monetary theory from a non-Keynsian view. https://www.amazon.com/Bitcoin-Sta…

I'm not looking for links to books. I'm looking for an explanation in plain English that shows why any of this matters.

If you present complexity, people assume you're smart, and give you their money to invest.

Re: Ethereum 2.0 launches

#64

Post by rocgf » Tue, Dec 01, 2020, 2:02 PM UTC

jansan wrote: post #5

Let the party begin.

Are we starting with this even here? Is there really no corner of the Internet that's immune to this bullcrap?

Re: Ethereum 2.0 launches

#65

Post by louwrentius » Tue, Dec 01, 2020, 2:02 PM UTC

csolorio wrote: post #55

louwrentius wrote: post #46

I don't understand this. I don't understand any of it. I don't understand cryptocurrencies. I don't understand what problems they really solve. > "Ethereum is open access to digital money and data-friendly services for everyone – no matter your background or location. It's a community-built technology behind the cryptocurrency ether (ETH) and thousands of applications you can use today." I can do all these things alr…

I first used it to pay a contractor in Argentina, since then I stick with the store of value hypothesis. It’s like gold but easier to hold and trade without having the government devalue it by printing more dollars. Or put another way, why does a dollar have value?

We already have solutions for paying people in other countries.

Why would I use this one?

I read a lot of difficult words I don't understand. It doesn't explain anything to me.

Re: Ethereum 2.0 launches

#66

Post by PycptN2MH » Tue, Dec 01, 2020, 2:02 PM UTC

louwrentius wrote: post #46

I don't understand this. I don't understand any of it. I don't understand cryptocurrencies. I don't understand what problems they really solve. > "Ethereum is open access to digital money and data-friendly services for everyone – no matter your background or location. It's a community-built technology behind the cryptocurrency ether (ETH) and thousands of applications you can use today." I can do all these things alr…

It is deceptive to say 'I don't understand' when what you mean is 'I disagree.'

Your central argument is: 'You offer a service to everyone. I already have that service. Therefore you are not creating value'

Re: Ethereum 2.0 launches

#67

Post by sweetheart » Tue, Dec 01, 2020, 2:02 PM UTC

louwrentius wrote: post #46

I don't understand this. I don't understand any of it. I don't understand cryptocurrencies. I don't understand what problems they really solve. > "Ethereum is open access to digital money and data-friendly services for everyone – no matter your background or location. It's a community-built technology behind the cryptocurrency ether (ETH) and thousands of applications you can use today." I can do all these things alr…

https://lmgtfy.app/?q=what+is+the+point+of+ethereum

Re: Ethereum 2.0 launches

#68

Post by louwrentius » Tue, Dec 01, 2020, 2:03 PM UTC

mikro2nd wrote: post #60

louwrentius wrote: post #54

Earlier quoted context omitted.

I'm not looking for links to books. I'm looking for an explanation in plain English that shows why any of this matters.

The world needs a form of money that is not under the control of any one sovereign power or group of sovereigns. Understanding this may necessitate reading some books, but in short, sovereigns have historically proven to be untrustworthy, so a trust-free form of money is a powerful notion.

> The world needs a form of money that is not under the control of any one sovereign power or group of sovereigns.

Why?

Why can't you explain this in simple, easy terms?

Re: Ethereum 2.0 launches

#69

Post by SCHiM » Tue, Dec 01, 2020, 2:04 PM UTC

louwrentius wrote: post #54

xiphias2 wrote: post #52

Earlier quoted context omitted.

Ethereum is very different from Bitcoin, so this comment is offtopic, and it's tackling a different problem space, but if you are really interested, I'm reading the Bitcoin Standard book, and I can recommend it if you really want to understand what problem Bitcoin solves. There's no simple answer, only learning about the history of money and monetary theory from a non-Keynsian view. https://www.amazon.com/Bitcoin-Sta…

I'm not looking for links to books. I'm looking for an explanation in plain English that shows why any of this matters.

In simple terms. The currencies, and related technologies al deal with the problem of transferring of money/services between parties where no centralized trust/power exists.

This is, in the words of their proponents to prevent abuse by the trusted party:

Credit card companies blocking transfers to legitimate companies on the basis of pressure from the US gov.

Banks printing money and devaluing currency of currency holders, etc.

Bailouts/handouts to undeserving private companies with public money.

Often mentioned that this freedom comes at the price of making it easier for bad guys to receive payments for various bad things, increasing their income, increasing the scope of the damage they do.

If you write a program on the eth blockchain, no party can one change the way the contract was written or execute. What is written is what it does. You can't change the TOS later or something similar. They are called contracts for this reason.

They prevent screw-overs in TOS that you have to "accept" or similar shenanigans that big corps use to screw you over, over time.

Re: Ethereum 2.0 launches

#70

Post by rakoo » Tue, Dec 01, 2020, 2:04 PM UTC

louwrentius wrote: post #46

I don't understand this. I don't understand any of it. I don't understand cryptocurrencies. I don't understand what problems they really solve. > "Ethereum is open access to digital money and data-friendly services for everyone – no matter your background or location. It's a community-built technology behind the cryptocurrency ether (ETH) and thousands of applications you can use today." I can do all these things alr…

I'm not specially a believer in cryptocurrencies, but it's probably the best way to implement micropayments, which will solve the biggest problem we have on the internet: monetization of content and of effort (think open source), which today is mostly sustained by ads.