/biz/ - Business & Finance

>>25854808
ETH is pure spaghetti code. ETH was without a doubt a great idea; I will not deny that at all. However, most people in crypto don't have the comprehension or knowledge to be able and look at the code-base and identify flaws that could be catastrophic, both in terms of economic, security, and overall functioning in cost signals.

Vitalik is smart. However, he's the most retarded smart person in all of crypto. He's a fucking child who doesn't own up to his inability to produce a creation and has longevity. Him and his cronies wrote shitty-ass code. It can't scale. The only way it can scale is constant upgrades each time they feel things are getting congested. This is where the problem lies. It is impossible for ETH to implement a scaling solution to where it doesn't need upgrades anymore. For ETH to work, it will need constant upgrades of ETH 2.0, 3.0, 4.0, so on and so forth for an indefinite amount of time - just kicking the can down the road. Off-chain scaling won't work either because ETH's security is already shit on a stick. Making something more complicated that is already a piece of shit is 100% pointless. People can never steadily develop something on ETH because with each 'scaling upgrade', those who are creating on ETH will have to pivot each time to ensure their product is compatible to work on ETH. To sum it up, each time ETH decides to upgrade to scale, it just gets worse.

For ETH to work to the level needed, the amount of ETH in ever single wallet needs to be known after each transaction. Since ETH cannot implement SPV, it's impossible for ETH to scale because it does not have the capabilities to know the exact amount of ETH in every single ETH wallet after each transaction at a massive scale.

The only way to permanently fix ETH would be to roll back the chain to the beginning almost. Vitalik is just your average Russian retard who can't produce anything of value

>>25854808
It's the best and most used crypto. With the best tracking and development aswell as experienced developers. That's why.

>>25854827

every time i see this, i add to my stack

>>25854827
what the fuck are you talking about

>>25854894
This is very funny and I laugh at the unquestioning vapidity of people who say "smart contract" and just let other people fill in the details as to what that should mean and what the value should be. The mistake here is that "smart" is a misnomer. A contract, as we have known them for many hundreds of years, is already smart because it can often require the work of a solicitor or barrister to argue for or against the individual clauses of a contract; contract wording requires interpretation and that can require some of the highest order thinking. It is therefore smart.

A contract on Ethereum, then, isn't smart. It is a dumb contract. It is dumb in the sense that it executes itself, whether it has been audited and validated or not. And for that reason, you get fraud, after hack, after loss, after gimmick, after scam and essentially fuck all in-between.

And for what reason would anybody need to run computer programs in a decentralised way? What the fuck is the point? I can understand a currency being decentralised; that is completely intuitive and innovative, but running programs is useless as it is so insanely inefficient. Anything you could run on Ethereum you can run on AWS and it will be cheaper, faster and more secure, therefore resolving the trilema of and revealing Ethereum to be completely and I mean COMPLETELY redundant. Just because something can work doesn't mean it has value, much like a kettle connected to a dynamo on an exercise bike would work. Ethereum is a fucking joke.

>>25854861
That doesn't mean shit. Developers can migrate to other projects if they outperform Ethereum in terms of tech. Also users can jump from project to project in a matter of seconds.

>>25854827
Cardano was built on this recognition. Cardano is the real Ethereum 2.0.

>>25854808
How many times must we tell you Charles? We need this shit to moon, so we can jump out before it blows up and then all into ADA

>>25854808
Ether is in many regards similar to bitcoin. I can accept is as currency if I want, and some do. But the intent with Ethereum is to use Ether as fuel for the network. Do you want to interact with this decentralized game? Then you need to pay with Ether to do so. Do you want to interact with a decentralized exchange. Then you need to pay with Ether to do so. All these applications on the Ethereum blockchain require Ether to run. Smart contracts are just a way to describe the endless number of programming possibilities. So you can own some of that.

And right now Ethereum transactions are growing at a parabolic rate. It is the most used blockchain by far (with almost 5x the transactions of Bitcoin and growing). It's a mixture of currency and smart contract fuel. It's also is a rare asset like bitcoin. Bitcoin has low inflation (about 1 million tokens per year), as does Ether (about 5 million tokens per year). Ethereum doesn't have a hard cap. That's the only difference. Plus ETH is going to implement a new fee burning system that will essentially make ether deflationary despite all the FUD around here

>>25855185
How easy would it be for a project that was built on Ethereum to migrate to a network such as Hathor or ADA?

>>25855313
ADA can run the EVM so you'll be able to migrate pretty much automatically but it's still bloated and slow. The finalized way to run smart contracts will be a simple chain agnostic standard. You don't want to run your logic on the slowest and most expensive virtual computer in the world, most of the time for resource intensive stuff you want to run it directly on servers that you can scale to meet demand. You just want a protocol that ensures the data you process is adhering to a standard, the standard may include a minimum amount of third party paid nodes or a rating of how distributed a service is. Things like the "Oracle problem" just disappear, they stop being problems.

>>25855313
u forgot flare nigger

>>25856233
>pow blockchains are pretty cool huh
>yeah shame we can't run arbitrary code on them like in federated node networks
>vitalik: but you can using my bloated toy for retarded russian children
>xrptards: shame I can't run this bloated toy on my federated node network, getting all the downsides for none of the upsides

>>25854808
The value of anything, whether that's a currency, an asset, or ETH, is fundamentally based upon what people collectively agree its value should be relative to another thing - which essentially equates to the value at which people, as a collective, are willing to buy or sell it at. The value of Ethereum is what it is now because it prices in the fact that it's the most used smart contract platform out there (which can be directly observed with hard data), but also because it prices in the expectation that it will continue to be the most used platform far into the future, given its plans for eventual scalability improvements. Without any type of plan to improve the network, people would collectively perceive its value as being far less than what it is now. It's that simple.

What gives $TSLA its insanely high valuation relative to other car manufacturers? It certainly doesn't have the most cars on the road, nor has a very impressive cashflow statement. It's valuation is derived mostly from the collective expectation that it will become the dominant car manufacturer (and perhaps power storage) in the world, as everyone is observing the obvious fundamental paradigm shift taking place right now going from ICE vehicles to electric vehicles. It's called speculation and price discovery, and it can be volatile, but it's what people collectively agree on at a given time.

>>25854827
kek