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I'm going to leave this here: https://www.ethereum.org/ https://www.ethereum.org/ If you haven't heard of Ethereum, check it out. It seems to be one of the lea

I'm going to leave this here: https://www.ethereum.org/ https://www.ethereum.org/ If you haven't heard of Ethereum, check it out. It seems to be one of the leaders in blockchain platforms. Even Microsoft is working with it, along with many others. Bitcoin, although the largest chain right now, will be a small player in an enormous field. The idea of one cryptocurrency to lead them all is not going to work. In fact, the 'currency' part is somewhat insignificant relative to what the blockchain industry will be. Every 'token' or 'currency' that represents an asset in a smart contract, or an asset such as cash, will be easily and instantly exchangeable for any other liquid asset. (i.e. U.S. Dollars). Having something like bitcoin is actually little use to us. That's not saying I think bitcoin was stupid or bad, it has done much to further the blockchain advancement.

brighton36 11y ago
Ethereum's chain is a mess. It's only burning 25k USD per day, and the project plans to switch off of it entirely. The claim that this project can cure whatever ails you on such a weak foundation is at best dubious, and probably just a scam.
- pipermerriam 11y ago
  Can you please back this up with some actual citation or something. I'm pretty involved in the Ethereum community as a developer and this statement seems founded either in fantasy or in information that I'm not aware of. > Ethereum's chain is a mess. I'm unsure what you mean here. > It's only burning 25k USD per day, and the project plans to switch off of it entirely. Burning 25k USD of what? Switch off of what? > The claim that this project can cure whatever ails you on such a weak foundation is at best dubious, and probably just a scam. Which claims are you referring to. What part of Ethereum is a scam?
  - brighton36 11y ago
    I went over the numbers with vitalik a couple weeks ago - he'll corroborate my claim. You can tell roughly how much energy is being burned per day based on calculating the token price multiplied by the daily issuance rate. Vitalik knows the Ethereum chain won't scale so he's renovating the entire thing to Proof of Stake. (Which is a bad idea as well). Hunt around this is public knowledge. Claims: There are so many. If you haven't seen them , watch the videos of the Ether team during the crowdsale.
- Cshelton 11y ago
  I think you have a misunderstanding of what a blockchain really is and/or what Ethereum is doing. Provide some reasoning to your claim, I'm not even sure what you mean...
  - brighton36 11y ago
    You can look me up. My claims are outlined under the post adjacent to this one. Ethereum is a very dubious project, and if you don't understand my claims - I'm guessing you're new, or at the center of the hype machine.
pipermerriam 11y ago
Yes to this. Thus far it is shaping up to be a powerful platform with some realistic potential to changes to how internet software is built.
CydeWeys 11y ago
> Bitcoin, although the largest chain right now, will be a small player in an enormous field. I don't know how you can say this with any degree of certainty (read: I want your crystal ball). Network effects are incredibly important here, as the security of the system is exactly its total hashing size. Bitcoin has such a head start that I don't see how anything could overtake it without providing incredible new features that can't be implemented even as side-chains.
- jbpetersen 11y ago
  I'd say Ethereum fits that bill.
- Cshelton 11y ago
  You're assuming that there has to be a 'leader' of some sort. A blockchain network could be you and I. It could be my neighborhood, my city, or a group of companies that wish to participate. Any blockchain platform that can support smart contracts, of which each smart contract can have whatever 'token' of value it chooses. I can make a token and call it 'potPlantCoin'. That token can be valued at '1 potted plant' of a certain size in my neighborhood blockchain, whereas, the token is backed by a potted plant... I could then effectively have a distributed, decentralized ledger in my neighborhood that uses the value of a potted plant as the means of exchange. I don't have to worry about any other network than the small amount of processing power within the nodes in my neighborhood. Maybe that example helps you understand how the blockchain doesn't need a 'leader' or something like bitcoin that is 'so far ahead'. Bitcoin is completely irrelevant in my neighborhood. Sorry, no crystal ball here, but I do have an extremely high degree of certainty =p
  - CydeWeys 11y ago
    None of your examples make any sense to me. It seems like it'd be a lot easier and safer to simply piggyback on the existing Bitcoin blockchain. To use your trivial example of a two person blockchain, what are you trying to do? If we trust each other already, then we don't need a blockchain, we just need signed transactions. If we don't trust each other then having our own private blockchain solves nothing, as whoever has more processing power can perform a 51% attack on the network, deny the other person's transactions, and double-spend your own. Having a blockchain makes no sense in this context. That's why you use the biggest existing blockchain, not a separate one. There's no way in hell I can cheat you if we do our transactions on the Bitcoin blockchain, because I can't beat the overall hashing power of the system, but I sure as hell can beat your hashing power if we have a blockchain that's only for two people, or just for a neighborhood.

brighton36 11y ago

Ethereum's chain is a mess. It's only burning 25k USD per day, and the project plans to switch off of it entirely. The claim that this project can cure whatever ails you on such a weak foundation is at best dubious, and probably just a scam.

pipermerriam 11y ago
Can you please back this up with some actual citation or something. I'm pretty involved in the Ethereum community as a developer and this statement seems founded either in fantasy or in information that I'm not aware of. > Ethereum's chain is a mess. I'm unsure what you mean here. > It's only burning 25k USD per day, and the project plans to switch off of it entirely. Burning 25k USD of what? Switch off of what? > The claim that this project can cure whatever ails you on such a weak foundation is at best dubious, and probably just a scam. Which claims are you referring to. What part of Ethereum is a scam?
- brighton36 11y ago
  I went over the numbers with vitalik a couple weeks ago - he'll corroborate my claim. You can tell roughly how much energy is being burned per day based on calculating the token price multiplied by the daily issuance rate. Vitalik knows the Ethereum chain won't scale so he's renovating the entire thing to Proof of Stake. (Which is a bad idea as well). Hunt around this is public knowledge. Claims: There are so many. If you haven't seen them , watch the videos of the Ether team during the crowdsale.
Cshelton 11y ago
I think you have a misunderstanding of what a blockchain really is and/or what Ethereum is doing. Provide some reasoning to your claim, I'm not even sure what you mean...
- brighton36 11y ago
  You can look me up. My claims are outlined under the post adjacent to this one. Ethereum is a very dubious project, and if you don't understand my claims - I'm guessing you're new, or at the center of the hype machine.

pipermerriam 11y ago

Yes to this. Thus far it is shaping up to be a powerful platform with some realistic potential to changes to how internet software is built.

CydeWeys 11y ago

> Bitcoin, although the largest chain right now, will be a small player in an enormous field. I don't know how you can say this with any degree of certainty (read: I want your crystal ball). Network effects are incredibly important here, as the security of the system is exactly its total hashing size. Bitcoin has such a head start that I don't see how anything could overtake it without providing incredible new features that can't be implemented even as side-chains.

jbpetersen 11y ago
I'd say Ethereum fits that bill.
Cshelton 11y ago
You're assuming that there has to be a 'leader' of some sort. A blockchain network could be you and I. It could be my neighborhood, my city, or a group of companies that wish to participate. Any blockchain platform that can support smart contracts, of which each smart contract can have whatever 'token' of value it chooses. I can make a token and call it 'potPlantCoin'. That token can be valued at '1 potted plant' of a certain size in my neighborhood blockchain, whereas, the token is backed by a potted plant... I could then effectively have a distributed, decentralized ledger in my neighborhood that uses the value of a potted plant as the means of exchange. I don't have to worry about any other network than the small amount of processing power within the nodes in my neighborhood. Maybe that example helps you understand how the blockchain doesn't need a 'leader' or something like bitcoin that is 'so far ahead'. Bitcoin is completely irrelevant in my neighborhood. Sorry, no crystal ball here, but I do have an extremely high degree of certainty =p
- CydeWeys 11y ago
  None of your examples make any sense to me. It seems like it'd be a lot easier and safer to simply piggyback on the existing Bitcoin blockchain. To use your trivial example of a two person blockchain, what are you trying to do? If we trust each other already, then we don't need a blockchain, we just need signed transactions. If we don't trust each other then having our own private blockchain solves nothing, as whoever has more processing power can perform a 51% attack on the network, deny the other person's transactions, and double-spend your own. Having a blockchain makes no sense in this context. That's why you use the biggest existing blockchain, not a separate one. There's no way in hell I can cheat you if we do our transactions on the Bitcoin blockchain, because I can't beat the overall hashing power of the system, but I sure as hell can beat your hashing power if we have a blockchain that's only for two people, or just for a neighborhood.