My prediction about ETH - page 2. | Bitcointalksearch.org

iamnotback

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Quote from: dadon on June 18, 2016, 10:49:23 AM

I had an epiphany also it was not to touch that link with a ten foot pole.

I practically wrote the Ethereum Paradox thread, so you are preaching to a former member of your tribe.

I don't intentionally promulgate technological bullshit.

So be careful. I think there is something very important coming as a use case in the smart contract area. I will be writing more about this soon.

iamnotback

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Quote from: GreenBits on June 18, 2016, 10:48:51 AM

Take home idea: we really don't need smart contracts. The Oracles cause centralization issues, and while smart contracts sound sharp, I really don't see a reasonable use case outside of finance/law (where the Oracle would be subject to regulation, and therefore would have the proper motivation to behave) Grin

On the issue of Oracles, I also had an epiphany on that recently:

Quote from: iamnotback on June 10, 2016, 06:32:51 AM

Originally I couldn't envision many valid use cases for this new craze building on top of more powerful block chain scripting and the block chain as a generalized state transition database, i,e. the block chain + scripting as a Turing complete machine.

And that was to a large extent because data feeds on external events break consensus algorithms. But then I realized that external events can be voted on.

Any contract that requires an external data feed breaks the ability to have a valid consensus algorithm. So this limits us to scripting which refers to data that is already on the block chain, i.e. the only thing that a block chain can validate are state transitions from an initial set of data, i.e. the genesis block.

So this basically limits what block chains can do, to financial contracts that involve how value is transferred over time and voting. Our contract logic can't refer to events that occur external to the block chain, except by voting. So this means external data feeds (events external to the block chain) can only be accommodated as voters, i.e. if one reporter of the event is authorized then it is a 1-of-1 quorum and if there are 5 reporters of an external event, then say our contract requires 3-of-5 to agree on the report, and then of course the contract has to have logic for what to do in the case that the quorum on an external event can't be achieved.

...

dadon

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Quote from: iamnotback on June 18, 2016, 10:46:47 AM

Quote from: dadon on June 18, 2016, 10:42:14 AM

We don't need smart contracts so nothing needs to replace ETH.. And i doubt anybody is going to be interested in smart contracts for a long time.
Smart contract = gimmick shit
decentralized currency= very important

That is what I thought since 2014. But recently I had an epiphany.

I had an epiphany also it was not to touch that link with a ten foot pole.

GreenBits

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Quote from: dadon on June 18, 2016, 10:42:14 AM

Quote from: iamnotback on June 18, 2016, 10:37:05 AM

Quote from: shanem on June 18, 2016, 10:33:45 AM

Quote from: bobmarley650 on June 18, 2016, 07:17:23 AM

I am going to say it straightly, 0.05 BTC.

There is a panic now, you guys are not wrong, hard-soft fork, eth pos etc. bla bla bla.

But after the dust, eth will see an all time high. Sorry.

The DAO bad news is a big challenge to ETH. If this matter gets resolved, there is a good chance that ETH will continue its uptrend.

If this bad news drags on, there is a good chance this coin will follow the footsteps of Litecoin.

Unless something else replaces Ethereum as the leading marketcap for smart contracts, then Ethereum will recover as Bitcoin did. Litecoin apparently lost its main raison d'etre which was those who were pumping BTC to $1200 needed a highly liquid coin to exit into and it had served as a home for displaced GPU miners when Bitcoin ASICs appeared.

This is assuming there isn't some insoluble technical issues, such as this one I opined about:

Quote from: iamnotback on June 18, 2016, 08:34:18 AM

The only way it is fixed is by the ecosystem maturing and having a wide diversity of smart contracts (many of which have been well vetted) so that the failure of any one of them can't impact the ETH price significantly. And I think also Ethereum might have a problem where bad contracts can infect other contracts, so that may prevent the ecosystem from ever being NOT TOO BIG TO FAIL (I need to research this more).

We don't need smart contracts so nothing needs to replace ETH.. And i doubt anybody is going to be interested in smart contracts for a long time.
Smart contract = gimmick shit
decentralized currency= very important

Take home idea: we really don't need smart contracts. The Oracles cause centralization issues, and while smart contracts sound sharp, I really don't see a reasonable use case outside of finance/law (where the Oracle would be subject to regulation, and therefore would have the proper motivation to behave) Grin

Indeed, bitcoin had Gox, but Gox was intentional. This is almost like criminal negligence.

pbleak

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I see no reason why if they pull off a fix this will not be evidence for how good the team are. I mean Bitcoin had Gox or have we all forgotten?

iamnotback

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Quote from: dadon on June 18, 2016, 10:42:14 AM

We don't need smart contracts so nothing needs to replace ETH.. And i doubt anybody is going to be interested in smart contracts for a long time.
Smart contract = gimmick shit
decentralized currency= very important

That is what I thought since 2014. But recently I had an epiphany.

BitUsher

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Quote from: iamnotback on June 18, 2016, 10:37:05 AM

Unless something else replaces Ethereum as the leading marketcap for smart contracts, then Ethereum will recover as Bitcoin did. Litecoin apparently lost its main raison d'etre which was those who were pumping BTC to $1200 needed a highly liquid coin to exit into and it had served as a home for displaced GPU miners when Bitcoin ASICs appeared.

This is assuming there isn't some insoluble technical issues, such as this one I opined about:

The only way it is fixed is by the ecosystem maturing and having a wide diversity of smart contracts (many of which have been well vetted) so that the failure of any one of them can't impact the ETH price significantly. And I think also Ethereum might have a problem where bad contracts can infect other contracts, so that may prevent the ecosystem from ever being NOT TOO BIG TO FAIL (I need to research this more).

Well yes , there are quite a few alternatives to replace ETH , and yes there are indeed some insoluble technical issues with ethereum... ones that we have been persistently warning the community about.

dadon

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Quote from: iamnotback on June 18, 2016, 10:37:05 AM

Quote from: shanem on June 18, 2016, 10:33:45 AM

Quote from: bobmarley650 on June 18, 2016, 07:17:23 AM

I am going to say it straightly, 0.05 BTC.

There is a panic now, you guys are not wrong, hard-soft fork, eth pos etc. bla bla bla.

But after the dust, eth will see an all time high. Sorry.

The DAO bad news is a big challenge to ETH. If this matter gets resolved, there is a good chance that ETH will continue its uptrend.

If this bad news drags on, there is a good chance this coin will follow the footsteps of Litecoin.

Unless something else replaces Ethereum as the leading marketcap for smart contracts, then Ethereum will recover as Bitcoin did. Litecoin apparently lost its main raison d'etre which was those who were pumping BTC to $1200 needed a highly liquid coin to exit into and it had served as a home for displaced GPU miners when Bitcoin ASICs appeared.

This is assuming there isn't some insoluble technical issues, such as this one I opined about:

Quote from: iamnotback on June 18, 2016, 08:34:18 AM

The only way it is fixed is by the ecosystem maturing and having a wide diversity of smart contracts (many of which have been well vetted) so that the failure of any one of them can't impact the ETH price significantly. And I think also Ethereum might have a problem where bad contracts can infect other contracts, so that may prevent the ecosystem from ever being NOT TOO BIG TO FAIL (I need to research this more).

We don't need smart contracts so nothing needs to replace ETH.. And i doubt anybody is going to be interested in smart contracts for a long time.
Smart contract = gimmick shit
decentralized currency= very important

iamnotback

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Activity: 336

Merit: 265

Quote from: shanem on June 18, 2016, 10:33:45 AM

Quote from: bobmarley650 on June 18, 2016, 07:17:23 AM

I am going to say it straightly, 0.05 BTC.

There is a panic now, you guys are not wrong, hard-soft fork, eth pos etc. bla bla bla.

But after the dust, eth will see an all time high. Sorry.

The DAO bad news is a big challenge to ETH. If this matter gets resolved, there is a good chance that ETH will continue its uptrend.

If this bad news drags on, there is a good chance this coin will follow the footsteps of Litecoin.

Unless something else replaces Ethereum as the leading marketcap for smart contracts, then Ethereum will recover as Bitcoin did after the decline to $7 or $1. Litecoin apparently lost its main raison d'etre which was those who were pumping BTC to $1200 needed a highly liquid coin to exit into and it had served as a home for displaced GPU miners when Bitcoin ASICs appeared.

This is assuming there isn't some insoluble technical issues, such as this one I opined about:

Quote from: iamnotback on June 18, 2016, 08:34:18 AM

The only way it is fixed is by the ecosystem maturing and having a wide diversity of smart contracts (many of which have been well vetted) so that the failure of any one of them can't impact the ETH price significantly. And I think also Ethereum might have a problem where bad contracts can infect other contracts, so that may prevent the ecosystem from ever being NOT TOO BIG TO FAIL (I need to research this more).

dadon

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Quote from: iamnotback on June 18, 2016, 10:30:15 AM

Quote from: dadon on June 18, 2016, 10:27:14 AM

You people thinking ETH will bounce back are "cooked" like seriously.. denial much? they fucked up worse then anything i have ever seen in crypto.
the fact you even compare it to BTC's problems in the past is just ridiculous.
like reality check the exchanges are locked up and it has lost already .5 billion... in like 48hrs!

Companies (even multi-nationals and some oligarchies) steal and waste funds all the time. Nation-states also. The goals of decentralizing the behemoths is far more valuable than some experimental losses along the way.

yeah difference is we have many projects who haven't fucked up ready to take their place..eth is not and was never needed it's gimmick shit, and now it's dead, but feel free to throw some more money in the fire..I don't care..

shanem

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Quote from: bobmarley650 on June 18, 2016, 07:17:23 AM

I am going to say it straightly, 0.05 BTC.

There is a panic now, you guys are not wrong, hard-soft fork, eth pos etc. bla bla bla.

But after the dust, eth will see an all time high. Sorry.

The DAO bad news is a big challenge to ETH. If this matter gets resolved, there is a good chance that ETH will continue its uptrend.

If this bad news drags on, there is a good chance this coin will follow the footsteps of Litecoin.

Bemerand

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Quote from: dadon on June 18, 2016, 10:27:14 AM

You people thinking ETH will bounce back are "cooked" like seriously.. denial much? they fucked up worse then anything i have ever seen in crypto.
the fact you even compare it to BTC's problems in the past is just ridiculous.
like reality check the exchanges are locked up and it has lost already .5 billion... in like 48hrs!

The Ethereum is still in the early development stage. It will experience similar problem like bitcoin did in the past.

iamnotback

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Quote from: dadon on June 18, 2016, 10:27:14 AM

You people thinking ETH will bounce back are "cooked" like seriously.. denial much? they fucked up worse then anything i have ever seen in crypto.
the fact you even compare it to BTC's problems in the past is just ridiculous.
like reality check the exchanges are locked up and it has lost already .5 billion... in like 48hrs!

Companies (even multi-nationals and some oligarchies) steal and waste $trillions all the time. Nation-states also. The goals of decentralizing the behemoths is orders-of-magnitude more valuable than some $millions experimental losses along the way.

dadon

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Pecvniate obedivnt omnia.

You people thinking ETH will bounce back are "cooked" like seriously.. denial much? they fucked up worse then anything i have ever seen in crypto.
the fact you even compare it to BTC's problems in the past is just ridiculous.
like reality check the exchanges are locked up and it has lost already .5 billion... in like 48hrs!

The Sceptical Chymist

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You know, as much as I like to see things burn, you may be right. Don't underestimate people in the crypto community. They are tenacious. Still, I'm not buying any eth.

iamnotback

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Quote from: bobmarley650 on June 18, 2016, 07:17:23 AM

I am going to say it straightly, 0.05 BTC.

There is a panic now, you guys are not wrong, hard-soft fork, eth pos etc. bla bla bla.

But after the dust, eth will see an all time high. Sorry.

I agree (or maybe as low as $1) bcz the movement is too idealistically intoxicating:

https://bitcointalksearch.org/topic/m.15266150
https://bitcointalksearch.org/topic/m.15266947
https://bitcointalksearch.org/topic/m.15265700

Quote from: iamnotback on June 18, 2016, 10:05:12 AM

Quote from: Spoetnik on June 18, 2016, 09:55:33 AM

Every ~~dog~~ spœds has its day.

Enjoy it while it lasts, because tomorrow will bring a new wave attack of mETH zombies.

BitUsher

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Ether is damned whatever the outcome.

Minecache

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Quote from: bobmarley650 on June 18, 2016, 07:17:23 AM

I am going to say it straightly, 0.05 BTC.

There is a panic now, you guys are not wrong, hard-soft fork, eth pos etc. bla bla bla.

But after the dust, eth will see an all time high. Sorry.

Exactly. BTC suffered similarly during its growth. Remember when there's blood on the floor it's time to buy and hodl.

iqlimasyadiqa

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ETH is one alt coin is so rapid development now. but the news of the hack DAO makes ETH is now in the balance. Now we just wait for the dev decisions about how the measures they take. This is crucial.

MedaR

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Bitcoin is the king of this game,and only when bitcoin hype stops, but this won't happen this year, maybe at the end of..
Till then every alt coin is on fire, and this is not bad at all, if you investing in it when everybody else selling.
Predictions for all alts in this period :
down, down, below...

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