Topic: Ethereum is the future of crypto, bitcoin is not. - page 117. (Read 116527 times)

Ethereum is not just a currency, it is also a trading platform for smart contracts. Do you mean the criminal will use Ethereum for their crime contracts?

i sure find ethereum with cool features and i think it can be a successful altcoin in the future when the pumping stops but it is not going to replace a big coin which has been here from the beginning called bitcoin

Rootstock.io does and they just got funds...

https://www.cryptocoinsnews.com/coinsilium-investment-rootstock/

I heard some companies is going to build a smart contract system based on Bitcoin, will that also not work?

Ethereum can't be fixed. No general purpose programmable smart contract block chain can be fixed. One might be able to design some very limited hard-coded contracts that are carefully studied, but even these  are very likely to produce the fundamental errors around commutativity, deadlocks, and other issues that plague distributed systems. It is simply impossible to have different people coding scripts and not have them blow up in pile of disorder.

The universe will not tolerate a total ordering, else our universe would not exist because the future would be predetermined by the past. Or stated another way, the speed-of-light would be infinite and the past and future would collapse into an infinitesimal point.

Bitcoin's scaling problem has potential technical solutions that aren't perfect but may work well enough in practice. However, the politics around Bitcoin suggests to me that the solution will come in an altcoin not in Bitcoin, but we will have to wait and see on the outcome.

Note the math wizard behind Synereo (Greg Meredith) has proposed a design for contracts that is enforced by social engineering (the cascade of individualized actions/partial orderings are expected to adhere to some social function) rather than by an enforced global ordering. I have my doubts about the applicability of this idea and it is certainly no where near what people mean now when they say "smart contract" on a global ledger.

Do you mean the bitcoin will work and the Ethereum does not work in its present form? Will further development change that?

One sort of works (Bitcoin) and the other one can't possibly work and is a lie.

I think Ethereum and Bitcoin are complementary. One is a currency, the other is a currency as well as a trading platform.

Those haven't been scaled yet and they can't be because Ethereum can't be scaled decentralized. Moreover Ethereum will blow up because it violates the fact that the speed-of-light isn't infinite.

n00bs are easily fooled by what they don't understand about the technology. "Oh I see Dapps, therefor Ethereum works". Sorry that is not correct.

These are my favourites so far:

https://app.augur.net/

https://www.reddit.com/r/ethereum/comments/456abv/could_i_write_a_ponzi_scheme/

Does it mean the miner has to have many kinds of wallets if they want to take payments in a broad range of currency? It is difficult for home miner.

Yeah there are quite a few already live on the Ethereum network

Check the DappsList: https://dappslist.com/dapps

It's obvious that most are still in development though, as this is still completely new technology

Currently there is a default gas price so the cost does rise as the value of Ether rises.

In the next version, miners will be able to set whatever price they wish to accept so they can adjust to the market as needed.

By the end of the year, the plan is for miners to be able to take payment in a broad range of currency - anything that can be put into a smart contract I'd guess. I think Bitcoin using BtcRelay is the chief goal, but not necessarily limited to that.

If the price of Ethers get too high, will dApps be that much more expensive to run? Does it work like that?

It is definitely beyond proof of concept, but its not really ready for prime time yet either.  Here is a list of currently public DApps live and in development: http://dapps.ethercasts.com/

Ethereum is definitely not another shitcoin. It's purpose is not as a currency at all, it is for fuel to run apps. If Bitcoin is gold, Ethere is Oil. That said, like any commodity, it can hold value and since it is easy to trade, it can certainly be used as a currency.

Honestly though, this bubble is happening WAY, WAY before it is supposed to. The Ethereum network is in "Frontier" release which was meant to be an alpha type release. The next release is "Homestead" which was supposed to be a stability focused beta type release, but Frontier was much more stable than originally anticipated so they are added some additional features instead.

Most of the major DApps are still in development and no one serious wants to launch prior to the Homestead release.

If we are really being honest here, the primary reason why Ethereum's price has shot up is likely Bitcoin people hedging their bets due to the uncertainty around the blockside debate and developer debate. Fear over forks and a bunch of other technical stuff that they do not understand. Ethereum looks like a relatively stable coin that can be used to hedge their position.

I am long on Ethereum, but considering selling now after this pump. Its value is supposed to come from contract execution fees, not from scared Bitcoin speculators.

It will be a currency.  Businesses could easily switch from accepting btc to accepting eth.  Just download a new wallet and away they go. 

The self delusion on these forums is high

You hit the nail on the head.

I'll guess that many here don't give the slightest shit about it being a currency. They just want to sell it for more than they paid for it. The most powerful demonstration of that would be ETH overtaking BTC without many realising that it's not actually a currency and it's effectively useless to most of them. It could well happen.

Are there any useful smart contracts that working already? Or is this just proof of concept? Sounds like just another shitcoin to me.
Something along the lines of: We have something, but don't really have a practical use for it yet.

Ethererum is not designed as a currency. You can use it to make smart contracts in the trading platform. This gives its value.