Topic: The Ethereum Paradox - page 11. (Read 99876 times)

What is the status here?

VB sold
Tual changed to Slockit (the only smart contract killer app ? no complex contracts or turing complete needed)
DAO has big run. the only use case for now? Over valued by the bubble value of ETH? ( try to evalue DAO on ETH value at the time ETH was ICOed)
    What will happen if slockit gets no fund from DAO?
    What will happen if so and after they earn big bunch of money and decide to sell the GmbH for to investors for Fiat?

.....
Uffff

The DAO is bad for Ethereum.

https://www.reddit.com/r/ethtrader/comments/4j7bag/the_dao_is_bad_for_ethereum/

caveat emptor gentlemen.

Yea, there's lots of crazy people investing in that DAO...thing.  There's my opinion on the DAO below.  Does anyone with a D+ or higher grasp of economics actually think I'm wrong about this?

https://bitcointalksearch.org/topic/why-would-anyone-buy-this-dao-crap-1471177

All time transaction high for the Ethereum network today:
https://etherscan.io/charts/tx

Too fucking long didnt fucking read

Well so far any REAL decentralization is just an illusion.. sadly.

Look closely and we see a controlling figure (any coin etc)
It can often be incredibly powerful and you could have huge pull
in crypto by simply having the password to the GitHub account
or have control to issue new messages / wallets or what ever for Bitcoin.

Like if we dig deep and look closely none of these coins or services are truly decentralized.
Which to me give a cloudy uncertain outlook for the future.
We can see from Crypto history big players tend to do weird things.. never know what is next.

But i have to steer clear of projects that move towards more centralization.
This means projects that are run like how ETH is or ANY IPO / ICO coin etc.
They are all a step backwards and simply out laziness.

They simply give up trying to make a better coin distributed more fairly..
then they fl0op on their back and whine that Mining *can* be exploited.
When a 100% premined coin is definitely exploitable and far more scammy and untrustworthy.
The public has made their opinion on this crystal clear too.
They are not clamoring to rush here asap to buy IPO digital pyramid scheme tokens.
On that promises of some debatably useful tech involvement.

Simply put the general public wants nothing to do with some shitty ass IPO coin.
EVEN of they try and tack on mining code later to say ohh ohhhh well it's minable "NOW"

Bitcoin BETTER do well because these Altcoins are a colossal pointless failure.
The majority have made damn sure every bit of this shit revolves are profit / greed.
That is a death sentence.
The writing is on the wall and many suspect it but can't help themselves..
They just loiter around looking to wring out the cloth for a more drops for a bit longer.

When humanity is given the chance to ruin things they do.
What i see happening here in crypto is like every other aspect of life in all of human history.
And this crypto crap in that respect is a predictable thing.

Late 2013 we had *some* people taking notice & getting curious.. you guys blew it.
You scared them all off and they are not coming back either.
SO you better fucking damn well hope Bitcoin is the miracle coin that succeeds long term.
So far none of these shitcoins matter on a global scale at all.

I don't think this can all be fixed either.
Crypto is terminal, it has cancer and not long to live before it dies into obscurity (more than now)
And it can not be fixed.
So the Crypto scene is the walking dead and the clock ticks.
Bitcoin had become more & more important.. if it fails these Alt's are going to be worthless over night.

Upthread you all were talking about problems with inconsistent or other issues with floating point on hardware thus unsupported by Ethereum. Are you aware of this new technology:

http://www.johngustafson.net/unums.html
http://www.amazon.com/End-Error-Computing-Chapman-Computational/dp/1482239868/ref=sr_1_1?s=books&ie=UTF8&qid=1413144875&sr=1-1&keywords=end+of+error+gustafson


I was just playing with the irony.

Hey if Bitcoin does ever cave into centralization, and Monero is still decentralized, one might be thankful they held it instead of Bitcoin. Who can predict that. Too many unknowns ahead.

So there's this game that you can play, and in this game, you can buy stocks, housing and other asset that go up and down in value and even return interest--this game happens use Monero as its gateway currency, and if you play the game well, you exit that gateway with more Monero than you entered. If the price of Monero increases let's say 2-3 times in the year(s) you played the game, all the better.

Price rise considered alone is not sufficient. If the centralized control forces you to pay 90% of your Bitcoins to the world government when ever you want to transaction them, because you must pay your fair share of socialism's bankrupt cost ($100s of trillions of unfunded social obligations owed by the bankrupt nations to their entitled citizens), then a higher price may still be a loss.

Shitcoiner's rule #1 of investing. If it excites you and you are not expert, then buy more because most n00bs are also not experts. If you are an expert, never invest because you will buy Monero and never see any gains.


Yes I had deduced he probably written a Bittorrent client in the past based on the way he approached designs. In any case, his technological innovations are unimpressive. We already explained that numerous times in detail.

Whether he could produce a very innovative design. I guess anything is possible.

Does it matter? Nobody is investing based on technological capability. Just buy what ever you think sounds good. It you feel technologically dazzled, your fellow n00bs will too. So buy it. Peace.

Do you guys think you would support China monopolizing Bitcoin if it caused the price to go up ?
Since i would safely bet you all only care about it's FIAT market price i bet you don't care.
Who cares what is the best decision for an "adopted" and used currency ?
Vs how much profit will i make ?
(effort making code changes for profit / market value reasons -or- functionality / adoption / security etc)

Like what percentage of any of this revolves around making a better digital currency ?
Vs never ending talk about how much each BTC etc is worth in dollars.

It would have to tell ya something i think when China took over mining.
They are smarter than Americans and took over.
What position would be better ? Be the Chinese miner dumping ?
Or be the American foolish kid buying them ?

Mining operations do not run on or for idealism.
They run to make money..
so i have no doubt the majority of mined BTC from China is just dumped for real money.

America etc had it's chance but it dragged it's feat and did too little too late.
China seized power and i doubt your getting it back now.. so then what ?
What is the end game guys ? ..think about it.

When Eth pump fails, blame Hitler!

So bitcoin is anti-semitic now?  Better let people know about that. 

What? Ethereum devs actually - develop?

It will be interesting to see how this AsicBoost affair
will turn out. If Core has its way, then the signal is not
of course that patents are no-no, but, keep your
innovations hush-hush.

If Core devs start to make changes that pull the rug
under Chinese miners (they've now mentioned switch to SHA-3
couple of times), the latter can begin to support an alternative
such as Classic (or just whip up homegrown clone). If executed
skillfully, with Chinese goverment support, China may own
up Bitcoin totally before all the altcoin folks get to conf their
gpus to keccak.

It can get messy when you've got multiple centers of power locked in a
precarious balance, instead of true decentralization (if such a thing
is possible)

Ah I misread the Google quote as "kilowatt hour" and rather it is referring to annual consumption. Still 1/100th is still a small fraction.


Ahem. You mean 0 profit margin factories with a Minsky Moment collapse imminent. China will massively reset and realign their economy away from the over reliance on zero-profit (State subsidized) manufacturing. Full employment is no longer the egregious problem that China had to worry about in the past. China  is very much diversifying now into producing high valued services and high valued, lower volume manufacturing. An example is the new ARM-based CPUs being produced out of China.

China will have abundant power to charge to its collective and use to control anything that is important for China's Communist Party to control. And Rockefeller has been over there consulting with them. The banksters are doing very well on their plan for the new totalitarian world order.

Yes, I was about to mention that part lol.  China does not have an infinite amount of dams to steal power from.  Unless the Anonymint vision is that the lights mysteriously turn off in the Guang Dong province and the entire power supply is re-routed to the chicom party leader's Antminers they have stashed in their closets.

It will undoubtedly centralize, not sure about more and faster. I'll throw a hundred buck at it anyway in the summer when the price declines. It's hard for me to believe in one digital currency rule them all dream, it goes against rationality. What I suppose has good odds of happening is a bunch of cryptocoins in circulation, Bitcoin leading the way for some years if the Chinese don't play it rough.

Actually it is closer to a hundredth. 5.6 gigawatts power draw run for a year is 40 50 TWh and China's total is around 5550 TWh/year.

Either way, that's a silly analysis because we both know that most of the electricity being produced in China is actually being used for important things like actual factories and cities. Only a relatively small portion is redirected to cheap Bitcoin mining. We have no idea of the scalability of that latter portion.

The cost of electricity for the corrupt in China can be essentially free (although it may be more at the level of 2 cents per KWH now from what I heard, so that the power players protect their political reputation in case it gets DOXXed). But there needs to be coins paid for mining, so that it is worthwhile to even do that corruption in the first place. Thus unprofitable mining with a tail reward could still be vulnerable, but in my design not so because the tail reward is so small compared to the PoW difficulty supplied by the signers of transactions, that the cartel can't find it worthwhile to do the corruption. I said my design will turn ASIC mining farms into door stops. Do you think it is wise for me to create such a CC and be assassinated? This is not a game we are playing here. This is real life and pissed off oligarchs have their ways of making people disappear.

On the ASIC commodization (besides that I already pointed out the fact that it wouldn't totally level the time-to-market access and does nothing to account for free electricity charged to the collective), it appears the opposite might occur: