Topic: Shit just got real - page 2. (Read 7222 times)

And now ethereum is very close in market cap to bitcoin now it is at a distance of 9 billions but some days ago it was closer, it seems it is just a matter of time before Ethereum will surpass bitcoin in that category as well.

One is a digital currency and the other is a scammy rigged unfairly launched ICO scheme for profits where the dev dumped on the public unlike Satoshi.

Want to compare to Bitcoin ?
No fucking problem.. lets do it fraudcache.

By the way.. welcome back LOL
The two of you are back together again eh ?

All i know is..
I came to support a currency.. not profits off APP's platform gimmick ICO fuel-tokens for profits.
I would not support any ICO let alone one with such a checkered past of drama / scammyness.
ETH has had an air of deceit and fraud surrounding it since day 1.

It doesn't scale ?
I'd be more worried about it being a complicated and convoluted insecure gimmick platform destined to fail catastrophically... like when the DAO hacker raped Ethereum.

Then we have the actions of the crew behind it.
They bought all the coins up on launch day in 100 BTC chunks.
Then had a huge list of strangers mentioned in the about page getting printed free coins as "employees"
Then we seen a strange thing going on with Coindesk who took to spamming on about it non stop just before it was going to launch.

Then we have the market manipulators and hype spam crew team that were hired to spam about it.
Funny how there was a year where a wall was set at $12 basically eh ?

Ethereum is the realization of Bitcoin rich guys colluding with big money to launch a scheme for profits.
Look at the players behind it and their checkered scammy past.

I have never owned an ETH "fuel token" nor would i.. i don't support scams.
I just hope US 3 letter agencies are coming after you like they did with Ripple.

All we ever see is a few noob accounts show up here and post lies and fraud about ETH to lure in kids with lunch money.
Big Banks ? ANON ? IBM ? Putin ? Microsoft ? ..the list goes on and on.
You frauds will come here and say anything to sucker naive brats into the scam pyramid APP's scheme.

Its quite a milestone when bitcoin loses its dominance to a single altcoin where just a few weeks ago we were talking about bitcoin vs the entire market.

For once Spartak_nt is correct: ETH is top dog.

haha well I learned a lot about bitcoin, I don't say that ETH is bad tho... just I do have lack of knowledge there (I know some things about ETH but prob not enough). Thats why there is this thread to confront each others opinions and to understand each other rationally and hopefully that we all learn something out of this. Mostly I just care for the use case not which coin I will be using in the future, thats why some alts even started to be "better bitcoin" which makes a competition within crypto currency. Which one will have the best features and the one that wins stays long in the game, thats how it is the best to develop something when you have competition when you have something that will motivate you to work more and to develop or "steal" ideas.

However I was reading that ETH blockchain is larger than bitcoin one or I found false statement somewhere?

@lizardbtc i see you're a bitcoin maximalist, but you're also not very bright. ETH's real data is about ~10GB and the chain will be pruned 100 % securely. Bitcoin can't do this.

@shyliar i didn't say LN doesn't work. I said it's not fully working / not properly tested. And it's not me who says this, but btc devs. Also LN can't help in most cases because opening a channel is expensive, so only businesses will. Those who implemented LN already did it for the hype value without fully testing.

@sparta_k he is not just smart, you're like a chimp next to him. You make claims you have no ideea if they're true, yet you make them. Most of these wannabe projects that put him as an advisor never talked to him or best case scenario he answers few questions to help them with advices etc. Not really "official" advisor as people would expect, aka working on the project more or less.

Lol, you're salty because he made millions. Why wouldn't he ? He deserves it. He made ethereum work, so far. Not fully working because it still needs scaling, but working. He has done something that other "geniuses" only talked about, in theory.

Now you're proving your ignorance again. Do you have any ideea the rate at which startups fail ? It's ~90%. Expecting 100% from the ethereum startups because you're a "perfectionist" in expectations ( from others ) makes you look silly at best.

I'm a realist and very rational, and i expect most startups in ethereum to fail, as it is normal with any other startup in real world. But there will be very cool ones, and there are about ~10 or more extremely promising and useful.

Bitcoin is a currency and it's used as such.

Ethereum is an ICO "fuel Token" platform where guys created more coins to run more schemes for profit.

You are comparing a fraudulent accounting scheme.
What we see with ETH is like the movie Inception.. a scammy ICO within an ICO for profits.
ICO INCEPTION SCAMMYNESS !

So your numbers are a swirling tornado of bullshit.

It's like saying Sharknado was a better movie than "The Shining" because it was watched more.

You are posting deceitful bullshit with fraudulent numbers.
You ETH scammers are simply exploiting the position you are in and the crowd showing up.
You fought the other guys with manipulation to make sure you were in the no. 2 spot.
Once that is achieved you can then kick back and let the lemmings piling in "use" your coin.
..for profits.
The reality is they all would have used any coin ranked as no. 2 on Coinmarketcap.

The crowd simply roll in here and start buying what ever is in the #2 slot cap wise.
Whether it's a scammy launched rigged centralized failed APP's gimmick ICO scheme coin is of no concern to them.. because ?
It went up in price and it's ranked no. 2.

Which is why a guy named Charles would capitalize on the name of it too.
It's all exploitation.. like you are doing here counting inception ICO stats in your main stats.
It's all a deceptive bullshit charade of lies and crap to sucker in idiots to inflate your bullshit scam coin so you can get...

BITCOIN.

..and then bad mouth the shit out of it of course 

Ethereum =  the scammy ICO "Sharknado" of crypto.

Comparing Ethereum with Bitcoin only proves you're not getting it...

So why isn't it the same for Ethereum? I mean it has definitely exploded in growth hasn't it? Isn't it the same as bitcoin did previous when it was still the new thing?

1% is too much actually on counting on those people who do buy all altcoins that do launch or new on the market and this is real because they do really hope that they wont miss again the train on becoming a millionaire.Its still okay as long you do have the money to spent on. Speaking on the topic,ETH have really progress as of now compared to previous year and it do really happen just like on bitcoin too.

That's not my point. If you develop/participate in some currency and have some stable growth over the next few years and you make you some money out of it - then, in my views - its all good. 

This is the same for bitcoin and every single altcoin. I would say less than 1% of people buy any crypto for its usecase they all buy it to become millionaires.

Vitalik is smart, but he made some stupid decisions (i.e. "advising" number of ETH based projects). Now he's tweeting he will no longer do it and that he didn't took a cent from most of them, but this is not important (and I personally don't care). Hypocrisy at its finest! Make 10s (or maybe even 100s) of millions $, then act you're not the bad guy here. If some of them turn into scams (or do some bailout like the EF foundation did with The DAO), then it's ALL ON HIM and him only. He said that he can help them if he makes Ethereum better. HEEEELLOOOOOOOOOOOOOOOOOOOOOOOOOOOO?! THAT'S THE MAIN POINT, MR. BUTERIN! But instead YOU choose to give them free "advises", which eventually may cost millions (if not billions) of $ to the masses.

I will say it again - I don't like Ethereum, because of what it is - a machine to make some people millionaires. A token (or whatever) fueled by bunch of market manipulators and a gas for 105 Million ICOs. 

I don't disagree that Vitalik is smart. You made a claim that the Lightning Network won't work. It's like you're dismissing a lot of other smart people who are working on that. In the same  sentence you dismissed "99.999%" of users as if they can't open a payment channel (do you think most folks are stupid? maybe that's not even a question that needs asking.). That will likely be automated for example a retailer's payment address could make it self evident that it's via the Lightning Network and the wallet will automatically send it that way. The user won't care about how it was sent, just that it cost next to nothing in fees.

I understand that you're invested in ETH; but, dismissing Lightning technology because you don't get it doesn't add to your argument.

You quote the number of nodes as if they will continue to be online. The number of nodes was higher for BTC and LTC were much higher when mining with GPUs. Simply because almost anybody with a opencl capable video card could mine. Going to POS will reduce the number of nodes considerably.

Sharding is cool; but, the "super computer"will still be hundreds of times slower than a cell phone. The ETH community claims that 1000s of DAPPs will run on that slow computer, that ETH can act as a world currency, that lawyers can be replaced with smart contracts and many other concepts. There have been several examples of the Network slowing to a crawl lately and that is without a single popular DAPP in existence. Even with sharding the network will never be able to run more than a handful of DAPPs if any ever become popular.

I've always agreed that Ethereum the Platform is interesting technology. So are its many competitors. It will be useful for some international businesses to work together on a private blockchain. The claims made for the potential of the ETH token and public chain are almost criminal though. Lot's of non-computer literate people have been sucked in by that.

Just wait for ethereum blockchain to grow and see how many people will be willing to run a node that will require like 1TB. Yes one TB is not to much but it is for a regular consumer who don't give a damn about the technology behind it. It doesn't matter if ETH take over I will still be happy with my BTC as for me ethereum foundation has stacked up a pile of ether  when they release the POS which is richer getting richer scheme they will just accumulate more...

Anyway cryptocurrency is far away from becoming main stream if it is ETH or if it is BTC I don't care. People are seeing it as a way to profit and profit is all, some "early adopters" don't exchange to fiat because they have tons and tons but rather they are looking for ways to spend the amount that they have and to accumulate more. Crypto currency is still far away for "ordinary people" everyone loses backups when they don't want to as there is no 3rd party authority it is easy to lose your funds + newcomers are not aware that transactions can't be reversed. Idea like idea is great but again neither ETH nor BTC have solutions in my opinion to get closer to ordinary people that want everything to be easy. Adding to that that both blockchains will just grow which will result that only centralized places will run 24/7 or full nodes.

ETH doesn't solve a damn, yes it has smart contracts, yes fees are lower, yes blocks are faster but still it ain't some super tech stuff that we need. It was designed to be a decentralized supercomputer in a way. But it still have some bugs and some major issues that need to be taken seriously. Time will tell and we will see which one has higher market cap. But for me to use it more often it will need to have a stable price as this is one of the things that I don't like about crypto currency - to be stable so that I can be confident to use it. Not to be used to speculate ETH has risen very fast which ain't good if I am customer and if I buy something today for lets say 0.5 ETH tomorrow it will be worth 0.3ETH this problem even BTC haven't solved because it simply can't go against the markets as people see it to profit and as an asset rather than as a real currency.

Problem is not the market cap, the problem is making it usable and for it to go mainstream if that is what we all aim for to have a decentralized currency that we can all trust.

Because it makes sense even to a non technical person. Currently, all blockchains are single threaded, where all nodes verify all transactions. In sharding a number of nodes verify each transactions and not all of them. Easy. It only sucks if there are too few nodes, it's not the case. Currently ethereum has 35k nodes, that's 5 times more than buttcoin. Seriously speaking, today even ~1k nodes are enough today if they are spread in many countries.

Also the security is kept up in place by incentives. You can't attack unless you know you have 51% or you lose everything. And ethereum in casper can recover from 51% attacks, pow systems like bitcoin can't. Wether or not sharding will work it's about wether or not they find a good balance between tradeoffs. Even without sharding ethereum can scale well, although not as good according to Vitalik. And yes, i do trust more what Vitalik says that btc trolls. Casper was demoed with ~3.5sec block times many months ago.

You present sharding as if it's better yet in other posts claim you are a non-technical person. So how can you make these claims without understanding how it works? Even a layman is capable of understanding that as you break the Ethereum network into smaller and smaller components that security drops substantially. If network activity increases (or scales with more transactions being required) breaking it into smaller and smaller components would be required to keep up. Less and less security in what is supposed to be a trustless system. The "supernode" in this system is nothing more than a form of inefficient centralization. And a much weaker form of centralization because of poor security at lower level nodes.

I get it. Sharding is a fun experiment and might be useful on smaller private blockchains. Claiming it's the final answer though, while dismissing solutions such as the Lightning Network seems somewhat disingenuous. Especially when you admit that you lack the technical skills to understand either.

That's okay. It still has it's memes. Bitcoin will become silver to ethereum's diamond. Sorry litecoin, you lost silver status.

http://www.flippening.watch/ says it's flippened already, just market cap is still higher.

You can smell Spartak_nt and Spoetniktards butt hurt from here. It's not too late the jump on the ETH moonship. Flippening any day now.

There is, ofcourse. But bitcoin needs badly 2-4mb blocks and LN. And hopefully in ~2 years it's devs will be capable enough to copy ethereum's sharding, because LN isn't scaling enough, 99.999% users don't open payment channels.

Ofcourse, LN isn't yet fully tested. I think there are a few no name projects who have it, but they don't have any volume so it's hard to say wether or not is safe to use at a large scale.