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protip: Ethereum can be used by criminals too, not just Bitcoin. Though, I'm curious (not trolling), why is Ethereum's model a better way forward? Are you talki

by earlz 9y ago

protip: Ethereum can be used by criminals too, not just Bitcoin. Though, I'm curious (not trolling), why is Ethereum's model a better way forward? Are you talking about smart contracts or what?

patryn20 9y ago
The smart contract model makes it useful beyond just "purchasing things" (as the unimaginative would say. Yes that's a dig at you senatorobama). The EVM (despite it's implementation flaws) makes it's uses practically limitless. Bitcoin...is an impractical, user-unfriendly first mover. Ethereum is the flawed second mover (ok, I'm discounting all the silly coins in between). I'm honestly not sure who the ultimate winner is. Unless the Bitcoin or Ethereum community fundamentally changes, it likely won't be them.
- earlz 9y ago
  I'm involved, in this space and agree. Though to play devil's advocate, smart contracts (especially since Ethereum is soon adding zk-snarks) also allow for more sophisticated ways to commit crimes. But yes, I definitely think that smart contracts are the next move forward for this space. Dumb money transfer is a really awesome thing, but it's also quite small. Bitcoin does have some smart contract-ish functionality, but it's incredibly difficult to use, and so is for the most part useless outside of niche applications.
  - patryn20 9y ago
    As I said, Ethereum is fundamentally flawed. And the implementation was...naive. It is a giant liability to all those who use it. I'm very excited for the space. Just not for the current currencies.
    - earlz 9y ago
      Heh, you don't need to tell me about it. If you like reading rants, I wrote one a while back over why the Ethereum Virtual Machine's core design is flawed to the very core http://earlz.net/view/2017/08/13/0451/the-faults-and-shortcomings-of-the-evm http://earlz.net/view/2017/08/13/0451/the-faults-and-shortco...
Laforet 9y ago
Ethereum, like bitcoin, is not inherently anonymous. Criminal usage in both cases require extensive mixing which is a pain. https://blog.cyber.fund/huge-ethereum-mixer-6cf98680ee6c https://blog.cyber.fund/huge-ethereum-mixer-6cf98680ee6c Bitcoin was the crypto of choice due to the network effect, although for now it is probably better to skip ethereum and skip right into somthings like XMR and Zcash.

by earlz 9y ago

protip: Ethereum can be used by criminals too, not just Bitcoin. Though, I'm curious (not trolling), why is Ethereum's model a better way forward? Are you talking about smart contracts or what?

patryn20 9y ago

The smart contract model makes it useful beyond just "purchasing things" (as the unimaginative would say. Yes that's a dig at you senatorobama). The EVM (despite it's implementation flaws) makes it's uses practically limitless. Bitcoin...is an impractical, user-unfriendly first mover. Ethereum is the flawed second mover (ok, I'm discounting all the silly coins in between). I'm honestly not sure who the ultimate winner is. Unless the Bitcoin or Ethereum community fundamentally changes, it likely won't be them.

earlz 9y ago
I'm involved, in this space and agree. Though to play devil's advocate, smart contracts (especially since Ethereum is soon adding zk-snarks) also allow for more sophisticated ways to commit crimes. But yes, I definitely think that smart contracts are the next move forward for this space. Dumb money transfer is a really awesome thing, but it's also quite small. Bitcoin does have some smart contract-ish functionality, but it's incredibly difficult to use, and so is for the most part useless outside of niche applications.
- patryn20 9y ago
  As I said, Ethereum is fundamentally flawed. And the implementation was...naive. It is a giant liability to all those who use it. I'm very excited for the space. Just not for the current currencies.
  - earlz 9y ago
    Heh, you don't need to tell me about it. If you like reading rants, I wrote one a while back over why the Ethereum Virtual Machine's core design is flawed to the very core http://earlz.net/view/2017/08/13/0451/the-faults-and-shortcomings-of-the-evm http://earlz.net/view/2017/08/13/0451/the-faults-and-shortco...

Laforet 9y ago

Ethereum, like bitcoin, is not inherently anonymous. Criminal usage in both cases require extensive mixing which is a pain. https://blog.cyber.fund/huge-ethereum-mixer-6cf98680ee6c https://blog.cyber.fund/huge-ethereum-mixer-6cf98680ee6c Bitcoin was the crypto of choice due to the network effect, although for now it is probably better to skip ethereum and skip right into somthings like XMR and Zcash.