My understanding of Ethereum | Bitcointalksearch.org

Herbert2020

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Quote from: pereira4 on March 15, 2017, 12:29:27 PM

Quote from: silversmith on March 15, 2017, 10:29:22 AM

"A" writes a "smart contract" on Ethereum. Since "A" isn't perfect his "smart contract" isn't either. "B" finds the bug in "A" "smart contract." "B" steals "A" ETH. Repeat... Repeat... Repeat... ETH goes to $0!

That's the thing. We got a DAO situation, solved by proof of vitalik.

If it happened once, why it can't happen unlimited times? There's nothing that guarantees it will not happen again, so why would anyone hold long term wealth on this thing I ask?

nobody holds ethereum for long term apart from those who fall for the pump scheme and the hype-vertising campaign they have. etherum and most altcoins like that are only good for short term investment, they get very awesome pumps that you need to be very careful about to get out of the fast if you want to make the profit and get away. its going to be like "blink and you'll miss the top"

pereira4

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Quote from: silversmith on March 15, 2017, 10:29:22 AM

"A" writes a "smart contract" on Ethereum. Since "A" isn't perfect his "smart contract" isn't either. "B" finds the bug in "A" "smart contract." "B" steals "A" ETH. Repeat... Repeat... Repeat... ETH goes to $0!

That's the thing. We got a DAO situation, solved by proof of vitalik.

If it happened once, why it can't happen unlimited times? There's nothing that guarantees it will not happen again, so why would anyone hold long term wealth on this thing I ask?

Luke2939

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Building Wealth through AI and the power of the bl

Quote from: silversmith on March 15, 2017, 10:29:22 AM

"A" writes a "smart contract" on Ethereum. Since "A" isn't perfect his "smart contract" isn't either. "B" finds the bug in "A" "smart contract." "B" steals "A" ETH. Repeat... Repeat... Repeat... ETH goes to $0!

Haha..Nice one. But ETH going to $0 is not going to happen soon. It still has good demand and many whales are holding it. There are many supporters who believe that ETH has got a good core team. Lots of Dapps are being developed on the ETH blockchain which brings in more demand for ETH. We will have to wait and see what the future will be for ETH.

BitcoinHodler

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HODLing is an art, not just a word...

let me just add this little thing in the middle:

Quote from: silversmith on March 15, 2017, 10:29:22 AM

"A" writes a "smart contract" on Ethereum. Since "A" isn't perfect his "smart contract" isn't either. "B" finds the bug in "A" "smart contract." "B" steals "A" ETH.

if "A" was one of the whales like Vitalik, then A orders another fork (roll back) to recover his funds and everything is back to normal for A.
then price of ETH starts falling hard, whales put up gigantic buy walls like before to prevent the crash after a month of people dumping and whales putting up walls we see 3 chains ETH, ETC, ETX

Quote

Repeat... Repeat... Repeat... ~~ETH goes to $0!~~

ETH comes down but doesn't crash because of walls!
ETX rises because it has a lot of demand from angry users seeing another dictatorship fork and whales start dumping their ETX and making money to put more walls on ETH

silversmith

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"A" writes a "smart contract" on Ethereum. Since "A" isn't perfect his "smart contract" isn't either. "B" finds the bug in "A" "smart contract." "B" steals "A" ETH. Repeat... Repeat... Repeat... ETH goes to $0!

Topic: My understanding of Ethereum (Read 445 times)