Topic: ETH = Game Over - page 17. (Read 40482 times)

@OP
i like your topic but you made a mistake.. you called ETH a currency.

It is not.

I think it's a bad idea which will harm the reputation of cryptocurrency in general and potentially fuel adverse legal/regulatory intervention (e.g. will regulators believe that developers working on cryptocurrencies can make arbitrary adjustments on demand-- with ethereum as a proof point). It's also going to create wasted effort for users of Bitcoin to differentiate themselves from the not very decenteralized hf-ethereum. ...

When the DAO caught fire and I saw forwards of chatlogs with exchanges talking about hardforking to 'fix' it, I was shocked and sent Vitalik email urging them to not do so. In Bitcoin land such a thing would be unthinkable, and I think actually impossible.

Ethereum's website has long loudly advertised (even louder than Bitcoin materials): "Ethereum is a decentralized platform for applications that run exactly as programmed without any chance of fraud, censorship or third-party interference."; and all that goes out the window when a service using the system suffers a highly predictable fault from a well known class of vulnerabilities? I could certainly appreciate that ethereum could have a different philosophy than Bitcoin-- it's important that systems with many different philosophies exist-- but since ethereum has marked itself with a very Bitcoin like view, this is going to continue to create confusion in the market.

To all those people who argue 'hey, ethereum isn't money it's just fuel for a public distributed network' ethereum classic will probably have a pretty good value proposition: better integrity with a lower access cost (assuming its adoption doesn't overtake ethhf).

Though I'm also curious what will be done with the logicbomb difficulty adjustment stuff (my understanding is that the current ethereum consensus rules have a pre-programmed exponential ramp in the difficulty which will eventually make the system unworkable without a hardfork).

I think its not yet game over for etherium. It is still recovering. I can say because that its value is now increasing again.

From the above, the ETH block height is 1950822, the ETC block height is 1946695, ETH is stll longer than ETC.

Hard fork   Non-fork
Block   0x643b1f94   0xe41f4528
Block Number   1950822   1946695
Difficulty    100.00%   5.47%
Total Difficulty    100.00%   2.17%
Block interval    13.9 sec   16.2 sec
Hash rate    4156.8 GH/s   194.2 GH/s

https://twitter.com/alistairmilne/status/757269984590651392

$ETC blockchain is producing ~200 blocks per hour more than $ETH ... will be a longer chain in approx 20hours if this continues #ethereum

The Ethererum Classic just was listed on the Poloniex. So it could reduce the price of the Ethereum some what.

Just the like the S&P 500 eth is going to the moon on the back of hype, faith and plenty of manipulation lol lol

LOL, you don't know how market manipulation works do you?

If you think the Ethereum is a scam and the price will drop in the future, you can short it and make a lot of money.

Correct, they just hadforked to get the original scammers their ETH back.

From what I've read, and correct me if I'm wrong: nothing was fixed.

The underlying issues are still present, because its a fundamental flaw in ethereum.

So any similar contract could still be hacked in the future. The devs promise a false sense of security.

I wonder if a hardfork every week will affect ETH, what would the investors think about it then?

It depends the reason to change an immutabile blockchain/public ledger, in this case imho it was not necessary because it wasn't a protocol bug that could be destroy the entire ethereum platform and since it's basically a chargeback to recover the money of the people who invested .. I'm more and more contrary.


Take a look to this:

 - http://elaineou.com/2016/07/20/bitcoin-improvement-proposal-hard-fork-to-return-stolen-silk-road-bitcoin-to-ross-ulbricht/

I'm not affiliated with anyone here, so better start addressing my arguments if you want to debate me.

ZOMG you Spoetniktards are really getting desperate. Can't believe that you wrote all that.

Ok so everytime a theft happens you just revert the network, like at every 1 ETH stolen. That would become chaotic very fast, where you draw the line?

So what if a 1 million $ theft happens and you roll back that chain say 10 hours, but 1 company made 5 million $ worth of profits in trades during that time.

So you roll back to save the 1 million from theft, but you cause 5 million $ loss as collateral damage.

What then? Who is the thief then, when the hardforkers prevent 5 million $ profit from a legitimate business?

Control freaks in top-down control never care about unforseen consequences and collateral damage.