The lagging on ETH transfers today because of one dumb game is a real problem in my opinion.
the problem has always been there. this kitty thing just made it more visible.
actually if i recall correctly, 2 months ago some other ICO caused the same issue with Ethereum and big exchanges closed down their wallets for ETH and all its tokens for over a week.
Is this merely a stress test
No, it is a simple usage of ETH the way it is designed. a stress test would have been thousands of transaction every 15 seconds to increase the mempool to 100,000 transactions pending (similar to bitcoin spam attack/stress test) and it causes much bigger problems that this would seem funny in comparison.
and remember that it is not all about pending transactions or how slow it is for a short time, it is about all the data that you are storing in the blockchain and how big the whole blockchain is going to become. if i am not mistaken currently ETH blockchain is 3 times bigger than bitcoin's blockchain and that is a disaster because so far nobody new can sync anymore unless they use light wallets or web wallets. and good luck decentralizing such currency!
- can ETH easily roll out a fix?
no, because it is by design. that is how every coin based on blockchain words. PoW or PoS wouldn't make a difference either.
Or is this the chance for ETH competitors to swoop in and show how they have better platforms?
it is. but most of them are not any better. they are mostly not used and that makes them simpler to use and it hides issues like this the same way it was hidden in ETH for a long time.
I was really trying to build up a little ETH portfolio so today's developments have me literally going
that is kind of irrelevant. because the price is based on speculation and manipulation. you may not even lose any money in short term!
Can those of you more familiar with what's going on please explain if this is a glitch in the matrix or a long-term issue?
as i said, it is by design so it is a long term issue. it may go away for a while but it will always exist.