What are the advantages Ethereum has over Bitcoin, except faster transactions?
Aside from the technical upside of Ethereum, the community around BTC is about as toxic, fractured, and petty as it gets.
Master Card, Cisco, and Scotiabank Join the Enterprise Ethereum Alliance
81–90 of 177 posts
Re: Master Card, Cisco, and Scotiabank Join the Enterprise Ethereum Alliance
#82Earlier quoted context omitted.
I have always thought that but it just crossed my mind that credit cards are basically just terrible loans. You could still give out loans in cryptocurrencies. Maybe Master Card could just switch if a particular crypto currency gained wide adoption. They could start issuing new cards with some sort of technology that allowed for cryptocurrency transactions at businesses. Or maybe they can use existing card tech, I re…
What makes them terrible loans? Also, much of the benefit of credit cards is from the fraud protection and mediation that companies provide -- it's not so much that they're loaning me $X00, but that they're covering the transaction details against fraudulent use and provide a dispute mechanism if don't feel the merchant has lived up to their offer post payment. I find it much more likely that MC is trying to be the M…
I think he just meant because it's a 20%+ loan typically. But really a person shouldn't be holding a balance on a credit card.
Re: Master Card, Cisco, and Scotiabank Join the Enterprise Ethereum Alliance
#83Always surprises me a bit because it seems to me like those large corporate players don't necessarily need all the features offered by Ethereum (or Bitcoin), especially proof-of-work, since there's enough non-adversarial cooperation between them that a simple distributed ledger with traditional (efficient) consensus mechanisms would suffice for most of their applications. They wouldn't have to deal with the drawbacks…
Those companies are using Ethereum without PoW in their private networks. They plug in a different consensus model.
I don't understand what you mean by this. To my understanding, the companies' transactions/data are either on the Ethereum blockchain or not. Do you mean that they are using some other type of distributed ledger algorithm unconnected to Ethereum?
Re: Master Card, Cisco, and Scotiabank Join the Enterprise Ethereum Alliance
#84At this time, there are 78 comments to this post, none of them addressing technical concerns. Quite unusual for HN.
I've devoted my life to cryptocurrency since 2011 and still question whether or not this system even makes sense. It seems too expensive with the technology we have today. Once privacy, such as zk-SNARK, is added, it becomes unreasonable.
Perhaps this is what a bubble looks like. I wasn't there for the dotcom boom. Loss of critical thinking.
Re: Master Card, Cisco, and Scotiabank Join the Enterprise Ethereum Alliance
#85Earlier quoted context omitted.
According to Wikipedia it was started as, and at, a Swiss corporation, followed by raising a crowd investment. So it was a funded corporation before it was a cryptocurrency.
however that swiss corporation is Ethereum Switzerland GmbH which kinda exists for the sole purpose of making Ethereum
It exists for the sole purpose of benefiting its investors and whoever may be behind any investment fronts used to push that currency. I wonder who they might be?
Re: Master Card, Cisco, and Scotiabank Join the Enterprise Ethereum Alliance
#86Based on this, it seems to me that financial corporations didn't want to take the risk of decentralized crypto-currencies making them obsolete, so they decided to create their own crypto-currency, one they can control...
Regardless of your opinions about Ethereum, its origins were decidedly non-corporate.
That is the opposite of the truth.
Re: Master Card, Cisco, and Scotiabank Join the Enterprise Ethereum Alliance
#87Earlier quoted context omitted.
Those companies are using Ethereum without PoW in their private networks. They plug in a different consensus model.
I don't understand what you mean by this. To my understanding, the companies' transactions/data are either on the Ethereum blockchain or not. Do you mean that they are using some other type of distributed ledger algorithm unconnected to Ethereum?
It's not, they're on enterprise eth, it's just being used to hype regular eth
Re: Master Card, Cisco, and Scotiabank Join the Enterprise Ethereum Alliance
#88Earlier quoted context omitted.
Those companies are using Ethereum without PoW in their private networks. They plug in a different consensus model.
Are they? I know it's possible but I can't think of a single use where traditional software and/or contracts are more convenient. What does Ethereum with no PoW bring to the table?
Centralization which is what they want
Re: Master Card, Cisco, and Scotiabank Join the Enterprise Ethereum Alliance
#89At this time, there are 78 comments to this post, none of them addressing technical concerns. Quite unusual for HN. I've devoted my life to cryptocurrency since 2011 and still question whether or not this system even makes sense. It seems too expensive with the technology we have today. Once privacy, such as zk-SNARK, is added, it becomes unreasonable. Perhaps this is what a bubble looks like. I wasn't there for the…
Really intrigued by your comment!
Could you elaborate on what drives the high cost? Or what would need to change for this to viable?
Re: Master Card, Cisco, and Scotiabank Join the Enterprise Ethereum Alliance
#90What are the advantages Ethereum has over Bitcoin, except faster transactions?
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