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What does $100 Ether mean?

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Re: What does $100 Ether mean?

#91

Post by jude- »

benchaney wrote: post #81
makomk wrote: post #73

Earlier quoted context omitted.

Indeed. All you have to do is test every possible input, in much the same way that any computation on a real computer is technically decidable because the limited amount of RAM means that it can only have a finite number of states. Neither of those limits actually makes solving the problem feasible in practice.

>Neither of those limits actually makes solving the problem feasible in practice. That's the point. Theoretical limitations has no bearing on solving the practical problem. That is why RichardHeart's original point [1] is wrong. [1] The halting problem states you can't predict what a turing complete program will do, until you run it. This means to some degree, that you can't predict what your "smart" contract will do…

Pretty sure the parent was saying the opposite. Testing every possible input is infeasible, since the number of possible inputs (and number of possible states) is HUGE.

Re: What does $100 Ether mean?

#92

Post by dwhly »

leashless wrote: post #34
djh_ wrote: post #13

The author talks about making Ethereum more humane and user-friendly, but jargon like "The Internet of Agreements" and "Humanizing the Singularity" makes me think he's mostly interested in becoming a thought-leader through Branding™. Those terms and his bombastic language in general will not help bring Ethereum to the masses like he claims to want to do. Also, the idea that Ethereum at $100 implies this amazing decen…

"Internet of Agreements" we hope to stand up as a series of conferences, and then a trade association a bit like a more participatory "Internet of Things." Remember that Linux, Ethereum, Internet of Things are all trademarks. It's very much how the world works: if you want to build a commons, first you have to have something to share.

This statement that "If you want to build a commons, first you have to have something to share" doesn't relate in any way to a need to own this concept. Trademarking "Internet of Agreements" doesn't somehow give you more of "something to share", rather it gives you less. Whatever your reasons for capturing your IP, so that you can monetize and control it, generosity isn't among them IMHO.

What you're trying to do is define a space so that you can capture an outsized share of the attention and therefore the financial value from it. Plenty of people name spaces without needing that capture.

Re: What does $100 Ether mean?

#94

Post by brighton36 »

RichardHeart wrote: post #15
djh_ wrote: post #13

The author talks about making Ethereum more humane and user-friendly, but jargon like "The Internet of Agreements" and "Humanizing the Singularity" makes me think he's mostly interested in becoming a thought-leader through Branding™. Those terms and his bombastic language in general will not help bring Ethereum to the masses like he claims to want to do. Also, the idea that Ethereum at $100 implies this amazing decen…

I think Vinay has great insights into gun control, the hexayurt, and some other topics, however, on ETH, I think he's totally in error. I'd be happy to livestream chat him about it.

I'm this guy: https://www.youtube.com/watch?v=A3p-RUtGejI (Chris@ChrisDeRose.com) and I agree. want to come on my show and discuss?

Re: What does $100 Ether mean?

#95

Post by RichardHeart »

brighton36 wrote: post #94
RichardHeart wrote: post #15

Earlier quoted context omitted.

I think Vinay has great insights into gun control, the hexayurt, and some other topics, however, on ETH, I think he's totally in error. I'd be happy to livestream chat him about it.

I'm this guy: https://www.youtube.com/watch?v=A3p-RUtGejI (Chris@ChrisDeRose.com) and I agree. want to come on my show and discuss?

mail sent.

Re: What does $100 Ether mean?

#96

Post by carver »

Jabanga wrote: post #88
RichardHeart wrote: post #70

Earlier quoted context omitted.

Disclaiming the misunderstood "marketcaps:" Crypto currency market cap descriptions are comedic. As soon as you actually try and sell your coins into the market, you see that you've eaten through the order book and driven the whole market down 10 percent. With thin markets like cryptocurrencies, if you market sell a million of coins, you actually make quite a large dent in the order book. Thus, a disclaimer should be…

>As soon as you actually try and sell your coins into the market, you see that you've eaten through the order book and driven the whole market down 10 percent. With There is no way you could push down the market 10 percent today. Maybe back in 2011, or maybe in one of the lesser known cryptocurrency markets. But in Ethereum, you could unload a huge number of ETH and the price wouldn't budge. I'm assuming of course yo…

>There is no way you could push down the market 10 percent today.

GDAX fell about 8% yesterday, from $96.82 to $89.07 in one hour (May 4, 9-10am) with about $2 million worth of trades. It's a little early to call this a post-volatility era.

Re: What does $100 Ether mean?

#97

Post by rabbyte »

leashless wrote: post #45
7373737373 wrote: post #40

Earlier quoted context omitted.

"Trustless" is a terrible meme, as the term is misleading and the implementation of the concept is impossible. The truth is: There is no cloud, just other people's computers. Smart contracts can make trust relationships explicit. By using a blockchain system, you entrust a network - which you may have no control over - with application state. If you rely on such a network, you indirectly also rely on the network infr…

I agree that our terminology is often terrible. "Smart contract" could well have been "conditional payment" which for most purposes is clearer. Do you know about http://erights.org ? They are good - great - on terminology.

if we're going to simplify language then call it what it is: a program. the only reason they're called contracts is because they were theorized within the context of future financial instruments, smart contract is a historical artifact for a kind of automated thing that might have one day appeared in many forms, but now we know. calling them programs would have been more immediately accessible to programmers which is clearly where the weight is shifting, contract should have been reserved for the DSL lawyers use to write programs. ¯\_(ツ)_/¯

Re: What does $100 Ether mean?

#99

Post by rabbyte »

as someone who's been involved since the beginning, the only thing $100 means is there are enough people invested that the real work can begin where developers and teams can take the time to learn how to build for it without worrying it'll disappear tomorrow. that assurance counts for something, but beyond that do -not- consider this a "production ready" platform. There will be failure. There will be losses. treat this as a place to experiment and dabble in the future but don't strive for world domination, let success build naturally. fuck the hype.

Re: What does $100 Ether mean?

#100

Post by Jabanga »

carver wrote: post #96
Jabanga wrote: post #88

Earlier quoted context omitted.

>As soon as you actually try and sell your coins into the market, you see that you've eaten through the order book and driven the whole market down 10 percent. With There is no way you could push down the market 10 percent today. Maybe back in 2011, or maybe in one of the lesser known cryptocurrency markets. But in Ethereum, you could unload a huge number of ETH and the price wouldn't budge. I'm assuming of course yo…

>There is no way you could push down the market 10 percent today. GDAX fell about 8% yesterday, from $96.82 to $89.07 in one hour (May 4, 9-10am) with about $2 million worth of trades. It's a little early to call this a post-volatility era.

It's volatile alright, but that's not the same thing as being able to push the market down with a retail-sized trade, let alone push it down a staggering 10%. And just because the market dropped 8%, doesn't mean the drop can be attributed to $2 million worth of Ether put up for sale on GDAX.

The daily trading volume is $300 million at last count. There's arbitrage happening across exchanges so the price on one exchange is not isolated from what's happening on others.

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