Topic: The ethereum scam (Read 1901 times)

op is shorting decides to fud, what a fag.

Rather buy sub 2 dollars, it's never going back to 0.03 or even what it is now. it's dead.

Ethereum is just another alt-coin pump and dump like all of the rest. And, let's be clear, on hype alone it will make a lot of people very rich; in the short term.

Rootstock

I think the insecurity of the side chain can wreck the Bitcoin block chain. If I am mistaken, I request someone to point out why.

Please see pages 8, 9, and 12 of the Blockstream side chains white paper. It says that the coins on the Bitcoin block chain can be unlocked by presenting a proof-of-work from the side chain, but that this can be invalidated by a longer proof-of-work. So this means that a lie-in-wait attack on the side chain could allow someone to unlock coins on Bitcoin's block chain, spend them, let others spend them in a fanout of derivative transactions, then reverse the Bitcoin transactions by presenting a longer proof-of-work from the side chain invalidating all those Bitcoin block chain transactions. In short, it seems to me a chain reorganization on the side chain can cause a chain reorganization on the Bitcoin block chain.

I am ready to go to sleep, so I am just skimming quickly with my re-reading of that white paper, so perhaps I missed something?

Not ethereum,Only Rootstock — Smart Contracts on the Bitcoin Blockchain
As a concept the Rootstock [1] platform is one of those ideas that once it is proposed it is obvious that it is a great idea. Essentially Rootstock aims to be what Ethereum is, a decentralized, Turing-complete smart contract platform. However, Rootstock aims to utilize the Bitcoin ecosystem rather than creating a new one from scratch. The way this will be accomplished is via the still not fully implemented sidechains technology

might be even worse if scalability / decentralization stay low...   

back to Bitcoin

I suppose everyone understand this, but I will state it for the record.

With a $200,000+ monthly budget, Ethereum can afford fancy website design and paid promotion at sites such as Coindesk, etc..

We gave them $18 million to produce no solution to the fundamental challenges they never solved, and they spent our money on hype to fool other greater fools into buying at nosebleed, manipulated prices. We invested in screwing the newbies who come to crypto.

That is not a sustainable model for growing our ecosystem. We are poisoning the well from which we drink.

I suppose everyone understand this, but I will state it for the record.

With a $200,000+ monthly budget, Ethereum can afford fancy website design and paid promotion at sites such as Coindesk, etc..

We gave them $18 million to produce no solution to the fundamental challenges they never solved, and they spent our money on hype to fool other greater fools into buying at nosebleed, manipulated prices. We invested in screwing the newbies who come to crypto.

That is not a sustainable model for growing our ecosystem. We are poisoning the well from which we drink.

I'm seeing way too much buy support still for it to ga back to those levels, I've got a feeling that we won't see it drop below 0.015 btc too soon.
Just look at that buy wall over at Poloniex, no way it's going back to 0.002.

What's scammy about it?

In order to beat Bitcoin, you much provide something that Bitcoin can't do which is more popular and has greater network effects.

Bitcoin for the moment owns the store-of-value and slow-large medium-of-exchange functions of crypto currency, and that is unlikely to change unless Bitcoin so screws up the block size issue that the market is forced to choose a new block chain for these properties of money.

However, the instant-micro medium-of-exchange function of crypto currency is still wide open. Ditto on chain privacy and anonymity, which appears to be a two horse race between Monero and Z(ero)cash, but I have my doubts as to how popular/practical overt privacy and anonymity will be. Bitcoin is hoping for Lightning Networks (<-- click the Reddit link at the linked post) but LN requires large block sizes for garbage collections spikes and it realistically can't allow anyone to pay anyone, plus it is a centralization paradigm to be owned by large corporate servers. V(anilla)Cash is pitching some insecure Zero Time shit that can't scale. Bitshares and Dash are pitching some more flawed shit, and even I discovered that InstantX's white paper had a high school level math error in its security calculation which made it seem much more secure than it is.

Ethereum has no users, no chance of scaling decentralized, and no one has even shown that any Dapps are important and/or can't be done in another way. I pointed out the prior day that Augur is insecure.

Market cap is irrelevant if it is not sustained, because P&Ds are easy for whales to conduct by buying from themselves, including constructing fake buy walls.

So yes I think Bitcoin can be beat. But it won't be easy. And the chances are slim. You actually have to have a plan for stimulating instant microtransactions medium-of-exchange adoption. It won't just happen by magic and you won't be able to just employ the mass media to dazzle the gullible tinfoil speculator junkies for the userbase since Bitcoin already captured them.

Rather buy sub 2 dollars, it's never going back to 0.03 or even what it is now. it's dead.

I'll buy a little as it hits two dollar, what'd ya think?

Already getting dumped like crashy



RIP ETH

we return to 0.0020 BTC

The price is still 10 times of your prediction. I will buy a lot with my bitcoins if the price goes to 0.002 or lower.

we return to 0.0020 BTC