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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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50057010 No.50057010 [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.50057184

fippy bippy
/thread

>> No.50057944

hey OP you sound really smart maybe send your resume to the ethereum foundation

>> No.50057973

>>50057010
>WE
Nobody is wants to read you dumb post.

>> No.50057985

>>50057010
https://www.google.com/amp/s/decrypt.co/resources/what-is-ethereum-2-0%3famp=1

One of the main reasons for the upgrade is scalability.

The current Ethereum network can only support around 30 transactions per second; this causes delays and congestion.Ethereum 2.0 promises up to100,000 transactions per second.This increase will be achieved through the implementation of shard chains.

>> No.50058004

ICP unironically already does everything ETH promised

>> No.50058008

>>50057010
yeah.

There are many merge, serge, etc... on the roadmap.

>> No.50058605

>>50057985
Not a single network, L1 or L2, can sustain more than about 100tps in real world setups. Not even BSC, the most centralized shit in the crypto world, can do it

>> No.50058655

>>50057985
>shard chains
Yeah I first heard about these in 2017 and I'm pretty sure we have found about 100 reasons why sharding won't work by now

>> No.50058669
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50058669

Miss me now?

>> No.50058812

>>50057010
>ETH was without a doubt a great idea
No it wasn't. Building a turing complete thingy on top of blockchain technology just so can reimplement all the OldFi technologies we already have in shittier but then brag about and market them as "decentralized" is retarded.

>> No.50058942

>>50057985
>Ethereum 2.0 promises up to100,000 transactions per second

Speaking of transctions per second, I wonder why there isn't a token for the Visa network

>> No.50059024

Buy matic u dummy

>> No.50059104

>>50058942
idk about the specifics but amp is trying to do something with payment systems that is kinda sorta related to visa I think

>> No.50059128
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50059128

>>50057010
>my magic internet money needs upgrades
You know what doesn't need upgrades? Real money.

>> No.50059165
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50059165

>>50059128
aka Bitcoin (Ticker: BTC)

>> No.50059195

>>50058655
sauce? I've only heard of it, never on why it wouldn't work.

>> No.50059208

>>50057010
>WAAAAAAAAA ETH ISNT EXACTLY LIKE BITCOIN AND EVERY CRYPTOCURRENCY NEEDS TO BE A CARBON COPY OF BTC!
>EVERYONE IS A PAJEET WRITING PAJEET CODE
>STOP ROLLING UP WE NEED TO BE ROLLING DOWN!

>> No.50059336

>Every single person itt is falling for ancient copypasta
Wow /biz/ has actually gotten worse than I imagined

>> No.50059413

>>50059208
Except most of what OP said applies to BTC, and BTC is an even bigger piece of shit

>> No.50059561
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50059561

>>50057010
hello, did someone call me?

>> No.50059940

>>50057010
Bump for universal knowledge
Hopefully the retard shitcoiners of biz learn it once ofr all..

>> No.50060050

>>50057010
Eth fucking sucks. I bought 184,000 lunc on metamask. Had to swap from etc tp lunc since there wasnt any other way to get it and I was only able to convert half. I bought $50 eth hoping I could convert it all to lunc but I couldn't because of the fees which would only allow me to buy $27 of LUNC. FUCK ETH AND METAMASK!

>> No.50060315

>>50058655
Works fine on ton and somehow on kadena

>> No.50060404
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50060404

Everyone in this thread is a bonafide retard

>> No.50060512

This is a bait post. But regardless, Solidity is a piece of shit language. Nevermind being turing complete, just imagine modeling a language for smart contracts after fucking javascript. The compiler for it sucks shit too, it can’t figure out that i++ = ++i in trivial cases or elide bounds checks.

>> No.50060579

>>50057010
have you told this to gavin wood

>> No.50060610

>>50060404
>posts craig never satoshi wright
>calls others retards

>> No.50060854

>>50060610
Yes, that's right, retard, I am

>> No.50061046

>>50059104
AMP is partnered with VISA because it's aiming to replace it and I guess VISA is hedging their bets.

But it's essentially a collateral token, that currently works right now. It uses an equivalent value in AMP to purchase your native currency for your purchase from any supported crypto you choose to use to make a transaction and then handles the secondary transfer on the backend. It's faster than any credit card and boasts 0% transactions fees for vendors.

It's also ironically an ETH based token. Oof.

>> No.50061090

>>50057010
fruit rollups are unhealthy

>> No.50061122

>>50057985
>shart chains
Good, Americans needed a new blockchain since XRP got sued

>> No.50061161

>>50057010
Going to proof of stake massively increases the number of transactions possible and with the addition of loopring's L2 they'll be competitive in transactions per second with even payment giants like mastercard and visa in addition to having much lower gas fees. Like low enough for mass adoption. Seethe more or stack more idc.

>> No.50061214

>>50058004
Shhh. Remember the first and second one rule. Just keep accumulating.

>> No.50061243

>>50057010
Aeternity

>> No.50061335

>>50059336
it's even worse than that
you can take OP's copy pasta and replace ETH with any shitcoin such as SOL, KDA, AVAX, LINK, ICP, etc and they will still fall for it. seen it done multiple times.

>> No.50061517

>>50057010
Why I am so bullish on Ethereum - every single reason!
https://twitter.com/cryptonator1337/status/1290338760044032002

>> No.50061538

that's literally what matic is doing by making the ethereum blockchain accessible and affordable to everyone through its set of scaling solutions

>> No.50061553

>>50059413
Which would be relevant, but OP didn't apply it to BTC, he applied it to ETH.

>> No.50061586

>>50059165
Easy to not need upgrades when the goal is nothing and the utility is nothing

>> No.50061633

>>50057010
bitcoin is a superior tech, it's literally art, meanwhile ethereum is a piece of shit that will never scale, bitcoin can be true p2p thanks to the UTXO model, and ethereum cant, and in fact will die when nodes could not keep up with the writes.

>> No.50061766

>>50061633
bitcoin does fucking nothing. it was the first and that's it. eth is shit but don't go evangelizing bitcoin

>> No.50061847

>>50061766
BTC does nothing. Bitcoin was always meant to scale without requiring multiple layers

>> No.50061913

>>50061766
ok retard, look how btc works compared to eth, in btc you will be able to interect with contracts WITHOUT involving anyone in the network

https://www.rgbfaq.com/faq/what-is-rgb

>> No.50062131
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50062131

>>50061847
this guy gets it

>> No.50063324

>>50057010
>Arbitrum
Nitro isn't even out, it's at Ethereum levels of tps right now.
Besides scaling is incremental.

>> No.50064008

>>50057985
That's why you split stuff into separate chains. Stop building contracts and start building dedicated chains.

>> No.50064491

ethereum will be a algorand sidechain soon dont worry

>> No.50064560

>it cant fucking scale
ETH is following a rollup centric roadmap and scaling solutions will become one part with Ethereum

MATIC is a thing for a reason. They have 7 ETH scaling solutions dedicated to all sorts of uses

>> No.50064649

>>50057010
didn't read but even without sharding we'll have enterprise-grade scalability solutions in 3-6 months (arbitrum nitro), plus the merge will put the co2 argument to rest, so I'm not sure where what you're talking about. I still think mass adoption of smart contracts is at least 5 years away, but ETH will easily reach $10k this year on hype alone (while fees will permanently stay below ~$0.60)

>> No.50065312

>>50057010
this is the main reason why institutions are never choosing Ethereum and are instead going for other chains like Hedera considering how much HBAR foundation has been focused on introducing sustainable projects to the ecosystem