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/biz/ - Business & Finance

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27788372 No.27788372 [Reply] [Original]

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.27788431

tldr; OP is poorfag

>> No.27788561

*laughs in bsv*
we have tokens too, makes eth redundant.

>> No.27788767
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27788767

That's gonna be a $5,726 gas fee.

>> No.27789150

>>27788767
This gas fee shit is nonsense.

>> No.27789224

>>27788372
Looks at ETH and ETH derived projects. Reads OP again. Looks at dollar value behind ETH and company. Reads OP again.

Has money ever been steady?

>> No.27789439

>>27788372
I will bite and ask what elements of the code are a risk. I am at the level of reading and figuring out erc20 and erc721 tokens like in the docs or the openzeppelin versions.

>> No.27790251

>>27789224
>>27789439
Ethereum cannot scale thats a fact. The ETH 2.0 roll out is protracted and convoluted, not too mention that the technology they are working on is inferior and antiquated in comparison to Cardano. There is an atmosphere of ambiguity as to when the Ethereum development team will release a fully working product. If ETH 2.0 launches too early there will be without a doubt a series of disastrous catastrophic errors and bugs that will severally impact the confidence of users and investors. If they release ETH 2.0 too late they are going be left behind. Cardano has already developed a superior network that's orders of magnitude more technologically advanced than Ethereum 2.0. The ETH development team are working on an insurmountable task. Personally my own experience of using Ethereum has been overall a negative one, where the majority of the time I have to pay exorbitant amounts of money in gas fees only for my transactions to get stuck pending for one hour. If people that are technologically literate hate using Ethereum what will normies think of it when they clog the network trying to trade imaginary cats.

>> No.27790544

>>27790251
One day one of the many MANY ether killers will work, but by then it won't matter because cross chain solutions will be well developed and we can all just gracefully transfer what will be trillions of dollars from Eth to something else. Right?

>> No.27790650

>>27788372
Is there a tl;dr or

>> No.27790850

>>27788372
wtf this is the first time when looking at that picture I understand vitaliks sentence makes no fucking sence.
owning cp imposes risk to other children. someone could even make a business out of it.
wtf vitalik

>> No.27790900

>>27788561
this.

>> No.27792077

>>27790544
Let me ask you this. 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 a fucking joke.

>> No.27792282

All of you, except you >>27788767
NEED TO GO BACK. FUCK.

>> No.27792310

>>27792077
What's your opinion of STX if you happened to have run across it? Interested to see if their clarity language is better in your opinion as they tout it as being safer by default.

>> No.27792406

>>27790251
People need to just move their shit to L2. SNX has done it and I can claim rewards for $0 fees on OVM.

The only part that sucks is the initial gas fee to go from L1 -> L2 but then it's all good. I'd rather pay $20 once to stake 1000 SNX instead of every fucking week when I want to claim my rewards.

>> No.27792549

Fuck eth it's straight up garbage, it fucked sickens me that it has gotten to this point but also makes me laugh that institutional investors are blowing their load on old garbage ass shit

>> No.27792706

>>27788372
Where can I buy its replacement?

>> No.27792733

then sell all faggot, short it,
4 digit poorfolio can only bark because you missed the boats
literally kys or buy kneepads, you sorry ass incels
>>27792549
>>27788372

>> No.27793065

>>27788372
I'm waiting for the Zcash DeFi shit they're talking about doing.

>> No.27793156

>>27792706
Link unironically

>> No.27793176

>>27792077
Kek now this is good bait

>> No.27793299

>>27792077
>And for what reason would anybody need to run computer programs in a decentralised way?
As digitization increases, I imagine distributed computing growing as a paradigm to the point where computer-life and real-life are seamlessly blended (maybe in a thousand years). Maybe we'll build crazy computerized homes, or maybe we'll create new paradigms, such as the next level after staring at screens for hours a day.

Scientific research? Some sort of censor free twitter? Or security purposes?

I would consider the networks we create with the internet and our activity count as a form of distributed computing for the generation of culture.

>> No.27793303
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27793303

>>27789150
What would you do if all of a sudden the gas for your car went 100x in a day and costs 200 bux per gallon instead of 2 bux per gallon and stayed that way? I'd sell my car.

>> No.27793349

>>27788431
It doesn't matter how much money you have because at the end of the day most people aren't going to look at paying $20 in gas for a $100 transaction as a good idea. Wasn't one of the point of ETH to get around massive transaction fees that cards impose?

>> No.27793386

>>27792077
The point of Ethereum was to build Bitcoin with more customization.

>> No.27793500

>>27793349
Nigger,buy Rubic! Gas will be a thing of the past

>> No.27793644

>>27792733
Says the nigger with the pajeet ID lol

>> No.27793680

Who else has noticed an uptick in Cardano shilling and ETH FUDing by Cardano shillers across all platforms? Do people really not know a organized campaign when they see one? Unironically a sell flag for ADA. Fuck you retards. same shit, different cycle.

>> No.27793681
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27793681

>>27793349
The point of ethereum was to misdirect you.

>> No.27793790

>>27793303
Sure, but would you dig up your roads?

>> No.27793806

>>27793500
SHUT. THE FUCK. UP! PAJEET

>> No.27793983
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27793983

>>27793806

>> No.27794012

>>27788372
Fudtards out in full effect. Bullish.

>> No.27794254

>>27793176
He's right.

>> No.27794333

You do realize this copy pasta means jack shit when the price of ETH went from $90 to $1700 in 1 year?

>> No.27794367
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27794367

>>27793299
>this nigga tryna live in an eth house

>> No.27794480

>>27794333
That just proves the point that crypto runs on ideology and hype more than anything

>> No.27794488

>>27793983
you are actually Indian, congrats.

>> No.27794512

>>27790850
No not really

>> No.27794554
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27794554

>>27792077
>And for what reason would anybody need to run computer programs in a decentralised way?
For what reason should we allow 3 corporations to have absolute power over our digital lives?

>> No.27794613

>>27794554
As opposed to the 51%?

>> No.27794886

>>27788372
Fuck your fud you retard shill. You're the equivalent of the guy standing on a box yelling "The End is Near!" because you're too fuckin lazy to get a job. Eth 2.0 solves every problem in your fud pitch with no need of subsequent upgrades.

>> No.27795775

>>27793790
my tricycle rides fine on roads thank you very much