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Master Card, Cisco, and Scotiabank Join the Enterprise Ethereum Alliance

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Re: Master Card, Cisco, and Scotiabank Join the Enterprise Ethereum Alliance

#91

Post by avip »

Asdfbla wrote: post #49

Always 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…

Why the assumption they have "applications" in mind?

Big-corps sit on piles of cash. They have an "innovation department". They have VC arm. They throw money in accelerators, they organise fintech hackathons, They invest in small startups. They do many a strange thing with their money!

EDIT:

>just participate to get in on the hype

This.

Re: Master Card, Cisco, and Scotiabank Join the Enterprise Ethereum Alliance

#92

Post by keyle »

abrkn wrote: post #84

At 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…

It'd be great if you could expand on that. Why doesn't it make sense, why is it too expensive, why unreasonable?

Re: Master Card, Cisco, and Scotiabank Join the Enterprise Ethereum Alliance

#93

Post by draw_down »

raesene9 wrote: post #38
JumpCrisscross wrote: post #18

Earlier quoted context omitted.

Better politics, internally and externally. Internally because the community isn't as hardcore. Externally because it hasn't been publicly associated with black markets the way Bitcoin has.

As a relative outsider, it doesn't seem to me like ethereum has a great history of good politics, given the whole DAO, hard fork, eth classic setup ( https://www.cryptocompare.com/coins/guides/the-dao-the-hack-... )

It's weird to me that the justification is "banks do this all the time" when the whole point of cryptocurrencies is to not replicate the bank system.

Re: Master Card, Cisco, and Scotiabank Join the Enterprise Ethereum Alliance

#94

Post by 52-6F-62 »

abrkn wrote: post #84

At 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…

I think there is little technical to discuss at the moment, because a lot of these companies have not made their direct technicals known. In fact a few of them have been patenting development[0] they've done with blockchain expressly to protect it from the public (and as one would assume, any potential for gain).

We can only speculate on the technical problems if we don't really know for certain what the application is that they have in mind.

Everybody seems to see value in blockchain tech, though nobody seems certain what the best applications of it are. I admired the UN's use of Ethereum as a tokenized payment method for refugees to 'purchase' relief supplies at camps in Jordan[1]. Problem is, scale that up to consumer-level transactions and we have a problem (at present, anyway).

If you want to go back to discussing the root viability of Ethereum's tech, sure -- but I think that's another subject than the main one in this thread.

[0] https://www.bloomberg.com/news/articles/2016-12-21/who-owns-... [1] https://www.wired.de/collection/tech/blockchain-fluechtlinge...

Re: Master Card, Cisco, and Scotiabank Join the Enterprise Ethereum Alliance

#95

Post by smnplk »

companyhen wrote: post #76
wideem wrote: post #72

Ethereum as a currency will never go mainstream with a price swings like this

It's still very young, and I think there may be multiple dApps built with eth that will be used in real life in the next 5 years.

maybe, but hundreds will just sit there without gas :)

Re: Master Card, Cisco, and Scotiabank Join the Enterprise Ethereum Alliance

#96

Post by dpc_pw »

How pointless.

The whole point of Bitcoin was to have uncensorable, decentralized asset that can be used to exchange value without any trust etc.

That is the only reason we endure this utterly shitty and inefficient blockchain thing, and we exchange money for this otherwise pointless online points.

I have no problem with ETH as cryptocurrency / smart contract platform. But this whole Enterprise Ethereum Alliance is just one big BS. Etherum community is trying to pump ETH value by associating with brand names, and corporations are trying to pump their stock value by presenting themselves as innovative. BS - empty words and marketing gimmicks. Just read through that page.

Just watch Blockchain vs. Bullshit: https://www.youtube.com/watch?v=SMEOKDVXlUo

Re: Master Card, Cisco, and Scotiabank Join the Enterprise Ethereum Alliance

#97

Post by vitaIikbuterin »

abrkn wrote: post #84

At 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…

> At this time, there are 78 comments to this post, none of them addressing technical concerns. Quite unusual for HN.

https://www.reddit.com/r/ethtrader/comments/6o3hev/link_to_e...

Re: Master Card, Cisco, and Scotiabank Join the Enterprise Ethereum Alliance

#99

Post by Laforet »

keyle wrote: post #92
abrkn wrote: post #84

At 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…

It'd be great if you could expand on that. Why doesn't it make sense, why is it too expensive, why unreasonable?

Not the poster above, but I think the main issue is with the cost to provide proof of work in a trustless network. For example, bitcoin is already at or close to the point where the most efficient mining operations have a hard time turning profit without a major bubble drawing in outside capital. 3 years from now it may well be unsustainable.

Re: Master Card, Cisco, and Scotiabank Join the Enterprise Ethereum Alliance

#100

Post by PeterisP »

loceng wrote: post #51
nxsynonym wrote: post #31

Earlier quoted context omitted.

It's only bad if you bought in at the peak expecting it to keep climbing. ETH price fluctuates wildly. The latest dip had no real connection to any news, all speculation. My advice: If you believe in the tech, buy in. If you are looking for a get-rich-quick investment, be prepared to lose a ton of money.

The only tech you need to technically believe in is that blockchain could be used as a currency - which it already does act as, and then it is a matter of adoption.

Which blockchain? In the long run, most likely a blockchain would be used as a currency and it will have a quite large market cap, and the others will be near zero.
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