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People who believe that ethereum is technically superior have not studied cryptocurrencies in depth. Ethereum made a lot of reckless design decisions, trading l

by tfha 9y ago

People who believe that ethereum is technically superior have not studied cryptocurrencies in depth. Ethereum made a lot of reckless design decisions, trading long term stability and security for advantages that only exist over bitcoin in the short term. Their short block time is a sloppy choice. Their focus on gpu mining is a boneheaded mistake. Their scripting system is embarrassing. Proof of stake is nonviable. Multiple clients invites large scale network forks like the spurious dragon update disaster. Their code is garbage and won't scale.

bpicolo 9y ago
> Their focus on gpu mining is a boneheaded mistake Better to leave random warehouses in China to control the entire pool? How does supporting asics matter in the least other than making it less accessible?
- russelldc 9y ago
  If any government wanted to take down a CPU or GPU based cryptocurrency, they could accomplish a 51% attack in no time. Gathering or manufacturing ASICs would be a longer, harder, more obvious process.
  - ryanmarsh 9y ago
    Gathering or manufacturing ASICs would be a longer, harder, more obvious process. In the short term, true. The same could have been said of integrated circuits at one point. ASIC manufacturing will become cheaper and easier.
  - bpicolo 9y ago
    I'm not convinced that's true. The government can get ASICs produced more easily than they can produce quality GPUs. GPU procurement at the scale necessary seems like it would be very hard.
    - kharms 9y ago
      A government would need to produce ASICs, but would only need to commandeer GPUs. There are massive GPU farms used by various industries, including ones available for rent (aws, etc.)
dcdanko 9y ago
Strongly agree. POS is just a dream (until someone proves me wrong :P)
- Geee 9y ago
  You have been proved wrong :) https://www.cardanohub.org/en/ouroboros/ https://www.cardanohub.org/en/ouroboros/
  - dcdanko 9y ago
    This looks pretty cool!
ChrisClark 9y ago
What do you think is better than Ethereum then? We already know by now Bitcoin is garbage. They have refused to do any innovation out of pride, and instead of just a tiny bit of compromise the devs pander to their ego and attack others instead. Directly causing this upcoming 51% attack on the chain (2X). It is useless as a global currency now, and any more complicated smart contracts built on top of it need trust in a third party, eventually, if it's ever built. All it has left for it is brand recognition and large transactions as a settlement network. The current price increase is obviously because people need to be in Bitcoin before this upcoming attack. Because if there is a back and forth fight over the hash power, you won't know who is the winner immediately.
- Geee 9y ago
  Take a look at Cardano https://www.cardanohub.org/en/home/ https://www.cardanohub.org/en/home/ Cardano was founded by the same people who originally founded Ethereum, and they also maintain Ethereum Classic. Their team has leading computer scientists and cryptographers on board, such as Phil Wadler. It addresses all the shortcomings of Bitcoin and Ethereum and is based on scientific research instead of hacking.
diggan 9y ago
Thanks for leaving your opinion but I think I'm not alone when I say that I prefer more elaborate feedback. You're saying that a lot of things are bad, but not really why. "Sloppy choice", "boneheaded mistake", "emberrassing", "nonviable", "code is garbage and won't scale" but neither of these things have any reasoning behind them (maybe you do, but you didn't take the time to actually write it down) which makes your comment relatively useless.
googletazer 9y ago
For the lack of a better word, you seem salty. You make a lot of allegations that arent supported by any evidence. Everybody can design a perfect system, few can make the tradeoffs to build something that works.

by tfha 9y ago

bpicolo 9y ago

> Their focus on gpu mining is a boneheaded mistake Better to leave random warehouses in China to control the entire pool? How does supporting asics matter in the least other than making it less accessible?

russelldc 9y ago
If any government wanted to take down a CPU or GPU based cryptocurrency, they could accomplish a 51% attack in no time. Gathering or manufacturing ASICs would be a longer, harder, more obvious process.
- ryanmarsh 9y ago
  Gathering or manufacturing ASICs would be a longer, harder, more obvious process. In the short term, true. The same could have been said of integrated circuits at one point. ASIC manufacturing will become cheaper and easier.
- bpicolo 9y ago
  I'm not convinced that's true. The government can get ASICs produced more easily than they can produce quality GPUs. GPU procurement at the scale necessary seems like it would be very hard.
  - kharms 9y ago
    A government would need to produce ASICs, but would only need to commandeer GPUs. There are massive GPU farms used by various industries, including ones available for rent (aws, etc.)

dcdanko 9y ago

Strongly agree. POS is just a dream (until someone proves me wrong :P)

Geee 9y ago
You have been proved wrong :) https://www.cardanohub.org/en/ouroboros/ https://www.cardanohub.org/en/ouroboros/
- dcdanko 9y ago
  This looks pretty cool!

ChrisClark 9y ago

What do you think is better than Ethereum then? We already know by now Bitcoin is garbage. They have refused to do any innovation out of pride, and instead of just a tiny bit of compromise the devs pander to their ego and attack others instead. Directly causing this upcoming 51% attack on the chain (2X). It is useless as a global currency now, and any more complicated smart contracts built on top of it need trust in a third party, eventually, if it's ever built. All it has left for it is brand recognition and large transactions as a settlement network. The current price increase is obviously because people need to be in Bitcoin before this upcoming attack. Because if there is a back and forth fight over the hash power, you won't know who is the winner immediately.

Geee 9y ago
Take a look at Cardano https://www.cardanohub.org/en/home/ https://www.cardanohub.org/en/home/ Cardano was founded by the same people who originally founded Ethereum, and they also maintain Ethereum Classic. Their team has leading computer scientists and cryptographers on board, such as Phil Wadler. It addresses all the shortcomings of Bitcoin and Ethereum and is based on scientific research instead of hacking.

diggan 9y ago

Thanks for leaving your opinion but I think I'm not alone when I say that I prefer more elaborate feedback. You're saying that a lot of things are bad, but not really why. "Sloppy choice", "boneheaded mistake", "emberrassing", "nonviable", "code is garbage and won't scale" but neither of these things have any reasoning behind them (maybe you do, but you didn't take the time to actually write it down) which makes your comment relatively useless.

googletazer 9y ago

For the lack of a better word, you seem salty. You make a lot of allegations that arent supported by any evidence. Everybody can design a perfect system, few can make the tradeoffs to build something that works.