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25198876 No.25198876 [Reply] [Original] [archived.moe]

Let me ask you this anon: What is the point of Ethereum?

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 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 pure spaghetti code.

>> No.25199002

>>25198876
Eth is going to be replaced by xrp; he stole the idea from one of the devs and asked for a job. Then goes on to fud them with the security being up in the air because he knows the end is near. Spending 2+ usd per transaction isn’t sustainable

>> No.25199025

I’m 80/20 ETH/BTC right now and even I have to admit that ETH’a use case is cloudy (at best). I’m only in it to prepare for altcoin season.

>> No.25199073

>>25199025
Convert to btc before its too late.

>> No.25199105

Eth and polkadot are the best altcoins

>> No.25199122
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25199122

Im starting to regret buying this stack of ETH instead of any other Top 5 coin... hell even XRP i could have tripled my money recently.... I used to be really bullish on ETH but now it seems like time is running out before the next big BTC correction to start the next year long bear market...

>> No.25199127

I don’t own ETH but Vitalik is right. Probably most child porn on the net is either preteen girls screwing around on omegle behind their parents’ backs, or nudist families who don’t care if people see them naked. Possessing those type of photos couldn’t possibly hurt anyone.

Heroin on the other hand kills people. Amazing how loli fapping is considered more dangerous than hard drug addiction.

>> No.25199270
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25199270

>>25198876
My analysis on ETH.
Stonks go up.
Thank you, remember to spend all your savings on ETH.

>> No.25199297

>>25198876
if it werent for smart contracts how else could I trade shitcoins on uniswap faggot?
op is a complete and utter brainlet.

>> No.25199311

>>25199127
Kys

>> No.25199333

>>25198876
im an eth min at this point. i only keep enough for gas. can't fucking wait til algo, dot, or avax takes over.
>for and by the people
>15 dollars per transaction
typical commie shit.

>> No.25199355

>>25198876
>ETH is the most delicious treat in Mumbai.
Wow Pajeet, what a glowing review.

>> No.25199383

>>25198876
i never understood how smart contracts are supposed to work from a high level perspective. real world contracts are not binary events because many transactions exist in shades of gray rather than black and white. this is why contractual disputes or contract arbitration exist. garbage in, garbage out as i see it.

>> No.25199553

>>25198876
Holy fuck this is the dumbest thing I've ever read.

OP you have no idea what you're talking about. Ethereum is literally the most valuable cryptocurrency BECAUSE it's programmable. As a solidity developer this post makes me wonder how many of you fucks are actually normies with no idea how high this shit is gonna go in the next 10 years.

>> No.25199613

>>25198876
Plenty of basic financial contracts such as POs can be implemented through smart contracts. Being able to automate certain types of simple contracts, along with loans, holding money in escrow, etc is a valid use case. Defi is an example of an actual decentralized application that runs on smart contracts, allowing one to transfer value "trustlessly" without an intermediary, hence replacing the need for a bank hypothetically since you could get a loan and lend your money out via a defi platform. Decentralized networks will become increasingly important as countries start to censor the internet more. A decentralized network can be more resilient to attacks. Besides scaling being a problem still, I don't see it being a problem in a couple of years with ETH 2.0 development.
Along with that, ERC tokens allow you to essentially tokenize anything like stocks, commodities like gold (PAXG), real estate, proof of ownership, Blockchain identities, blockchain voting. Tokenization means data will be encrypted, transparent, and auditable. I highly advise you DYOR on ETH if you genuinely believe in crypto.

>> No.25199646

>>25198876
eth is gas and gas only. any system that charges an hour of work to send money isn't a system for the people. long algo. and yes i realize the irony, do ethfags?

>> No.25199692
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25199692

>>25199127
ive known more people who've had someone die from fentanyl than some who had died form kiddie porn

>> No.25199752

>>25198876
dyor

>> No.25199877

>>25199553
>>25199613
IT CAN'T FUCKING SCALE. HOW MANY TIMES DO WE HAVE TO SAY THIS?!?!

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.

>> No.25199938

>>25199877
>It's almost like Ethereum is software that needs to be maintained and upgraded as time passes.

Look man idk if you're high or schizo but you're wrong. Ethereum scales just as well as any other crypto would scale. Whatever "eth alternative" redpill you took was a placebo, Ethereum is the Google of blockchain.

>> No.25199969

>>25198876
Does anyone even care about child porn anymore? TikTok is literally legal child porn

>> No.25200024

>>25199938
>google of blockchain
you need to leave 2017 behind anon, there are better alternatives and when it comes to smart contracts, there are other chains with actual products. ETH was good for the ico craze and thats it.

>> No.25200160

>>25200024
>There are better alternatives
There it is folks. Delusional. Absolutely delusional. There are no better alternatives, especially when it comes to adoption. Oh, and financial interests.

Industrial investors are interested in ETH, not your shitcoin "eth alternative" with an unproven history and absolute garbage adoption. Any real eth alternative needs some sort've bridge between itself and eth to have even a hint of a chance of success, and you still think eth doesn't work. Laughable. Buy real cryptocurrencies like xmr and eth and stop buying into delusion.

>> No.25200366

>>25199553
>>25199938
As a solidity developer, you should know how much of a convoluted and slow piece of shit ETH is.

And literally every use-case can be performed more efficiently just using centralized solutions without the spaghettified baggage that comes with using ETH. Why the fuck would anyone actually need to use ETH for literally anything? It's no wonder why we're not seeing any real adoption anywhere other than a means for desperate poorfags hoping to get rich quick.

The idea that eventually every system under the sun will somehow miraculously migrate to a blockchain-based implementation is just blind wishful thinking by the rampant masses of people hoping they can ride the "next technological revolution", get rich off of it, then dump their holdings afterwards because no one actually really cares about the tech.

You take out all of the normies and overhyped bullshit out of the equation, and you're essentially left with nothing but a failed experiment underneath it all. ETH will fizzle out and solidity will die along with it.

>> No.25200705

>>25200366
>ETH 2.0

>>
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