3 ms·

> Ethereum is providing a base layer protocol for apps that never go down, never fail, and are fully trusted. That's something that future generations will take

> Ethereum is providing a base layer protocol for apps that never go down, never fail, and are fully trusted. That's something that future generations will take for granted but HN is largely ignoring right now. The iPod was released at that point and you could hold it in your hands and see for yourself. Can you give me some examples of real world applications of Ethereum's protocol that you think are being undercounted? I recently looked for some using smart contracts but all I see is hype and a lot of VC/bitcoin money thrown at things that haven't been able to deliver and don't even need blockchain. I saw Dubai putting property records into a blockchain but not sure it has smart contracts. Perhaps something will come up in the future, but what does it have to do with excessive crypto-profit and hype money being put into startups that lack fundamentals? I am not saying experimentation is bad, but I felt like we were/are reaching dotcom pets.com levels of hype and mania. If you ask me, HN mostly seems to be saying that the hype has been out of control over blockchain. I don't see people saying blockchain technology is lame or unreliable, do you? I have seen comparisons of bitcoin to tulip mania and ponzis, but that's not the same as discounting blockchain technologies.

simonsaidit 8y ago
https://medium.com/cryptolinks/maker-for-dummies-a-plain-english-explanation-of-the-dai-stablecoin-e4481d79b90 https://medium.com/cryptolinks/maker-for-dummies-a-plain-eng... A stablecoin run in a contract is pretty amazing and becoming more and more popular.
- ac29 8y ago
  DAI, like other stablecoins, isn't really all that stable - right now it costs about $1.02 to buy $1 worth. And, it's frequently been over 5% away from $1: https://coinmarketcap.com/currencies/dai/#charts https://coinmarketcap.com/currencies/dai/#charts Most "stable" coins are trading at over $1 right now, presumably as people try to flee sinking cryptocurrencies and have no practical and/or legal means to turn them into real money.
  - chrisco255 8y ago
    It doesn't have to always be exactly $1. You obviously can't control markets and what people sell things for...but DAI has mechanisms in it's protocol so that the price trends to $1. It's incredibly fascinating, it's decentralized, permissionless, loans with an economic system backing it. It's very novel tech and a huge achievement.

simonsaidit 8y ago

https://medium.com/cryptolinks/maker-for-dummies-a-plain-english-explanation-of-the-dai-stablecoin-e4481d79b90 https://medium.com/cryptolinks/maker-for-dummies-a-plain-eng... A stablecoin run in a contract is pretty amazing and becoming more and more popular.

ac29 8y ago
DAI, like other stablecoins, isn't really all that stable - right now it costs about $1.02 to buy $1 worth. And, it's frequently been over 5% away from $1: https://coinmarketcap.com/currencies/dai/#charts https://coinmarketcap.com/currencies/dai/#charts Most "stable" coins are trading at over $1 right now, presumably as people try to flee sinking cryptocurrencies and have no practical and/or legal means to turn them into real money.
- chrisco255 8y ago
  It doesn't have to always be exactly $1. You obviously can't control markets and what people sell things for...but DAI has mechanisms in it's protocol so that the price trends to $1. It's incredibly fascinating, it's decentralized, permissionless, loans with an economic system backing it. It's very novel tech and a huge achievement.