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> Ethereum is providing a base layer protocol for apps that never go down, never fail, and are fully trusted. Even if we were to grant that these claims are tr

> Ethereum is providing a base layer protocol for apps that never go down, never fail, and are fully trusted. Even if we were to grant that these claims are true, we still have to ask what classes of application benefit from slower, more expensive distributed systems. Blockchains solve only one problem, which is consensus formation on ontrusted networks. They do not solve politics, governance, downtime, and certainly not application failure.. these things all exist on blockchains. Essentially none of the application ported from centralized systems to Ethereum or even Bitcoin actually face Byzantine consensus issues when deployed as centralized systems. Bitcoin can be used as a 24x7x365 global collateral and value transfer instrument - such a system would face consensus problems if implemented on top of traditional banking infrastructure. That's hugely valuable, but pretty much the only problem-solving application to date. For things like asset ownership and transfer, any kind of voting, real estate, IPOs, etc, most people still have to deal with incredibly bad centralized systems, that would be amazing if rebuilt as centralized node.js apps that talk to a MySQL database. This stuff is low hanging fruit that's a huge pain for massive swathes of humanity. And despite the fact that no Palo Alto real estate broker is talking to the city's land deed system over unreliable networks, where enemy messengers might swoop in and assign your deed to the wrong buyer, there's this myth that we need distributed consensus for this and other problems best solved by... databases.

simonsaidit 8y ago
>>Even if we were to grant that these claims are true, we still have to ask what classes of application benefit from slower, more expensive distributed systems Nobody denies its slow, its a waste of resources, its buggy, its hyped. its a lot of things many early systems was. Its all challenges that people try to solve. What is interresting is if those things can be solved. And i dont understand Why so many dont see a benefit if we could one day build true decentralized systems... its not the distributed or avalibility thats important. Its not like goverments or companies always have the peoples best interrest when they make decissions.
- SalMonella 8y ago
  Nathaniel. I can see what your saying... Paul`s remark is neat, on thursday I got a top of the range Nissan GT-R: after making $6612 this last four weeks and just a little over ten-k last munth. this is certainly the easiest work Ive had. I started this five months/ago and almost straight away began to make more than $71 per-hour. I work through this website, www.Mesalary.com
- skyraider 8y ago
  Even on decentralized networks like ethereum/bitcoin, it's possible for governments and companies to have a major impact on network direction. True economic decentralization is more likely to come from products like Stripe Atlas that give small players scaling and distribution tools that previously, only big corporations or well-resourced founding teams had access to.
  - simonsaidit 8y ago
    Sure goverments can affect etherum and bitcoin but they cant stop it globally and Im talking about the next generations build from the learnings of bitcoin and the likes. Its not just about money but information any kind that could benefit. Stripe is cool but just one area and its centralized and itself relies on payment networks like visa and mastercard, banks and other psp networks all the way to the POS.
- root_axis 8y ago
  > Nobody denies its slow, its a waste of resources, its buggy, its hyped A lot of people deny all of that, actually. > slow They say "there is no faster way to achieve distributed consensus". > waste They say "it's not wasteful because its securing the network". > buggy They say "unlike all other software systems, it's never been hacked!". > hyped They say "it's literally the greatest innovation since the internet" > And i dont understand Why so many dont see a benefit if we could one day build true decentralized systems I have no idea, I guess most engineers are just too jealous of early adopters getting rich to be willing to give cryptocurrency a chance. There are so many problems that can be solved right now with cryptocurrency if the community would just give cryptocurrency a fair shot instead of always trying to say that it doesn't solve any real problems. Note: the previous paragraph is a satirical portrayal of a cryptocurrency enthusiast attempting to explain why the entire software community isn't hyped about cryptocurrency.

simonsaidit 8y ago

>>Even if we were to grant that these claims are true, we still have to ask what classes of application benefit from slower, more expensive distributed systems Nobody denies its slow, its a waste of resources, its buggy, its hyped. its a lot of things many early systems was. Its all challenges that people try to solve. What is interresting is if those things can be solved. And i dont understand Why so many dont see a benefit if we could one day build true decentralized systems... its not the distributed or avalibility thats important. Its not like goverments or companies always have the peoples best interrest when they make decissions.

SalMonella 8y ago
Nathaniel. I can see what your saying... Paul`s remark is neat, on thursday I got a top of the range Nissan GT-R: after making $6612 this last four weeks and just a little over ten-k last munth. this is certainly the easiest work Ive had. I started this five months/ago and almost straight away began to make more than $71 per-hour. I work through this website, www.Mesalary.com
skyraider 8y ago
Even on decentralized networks like ethereum/bitcoin, it's possible for governments and companies to have a major impact on network direction. True economic decentralization is more likely to come from products like Stripe Atlas that give small players scaling and distribution tools that previously, only big corporations or well-resourced founding teams had access to.
- simonsaidit 8y ago
  Sure goverments can affect etherum and bitcoin but they cant stop it globally and Im talking about the next generations build from the learnings of bitcoin and the likes. Its not just about money but information any kind that could benefit. Stripe is cool but just one area and its centralized and itself relies on payment networks like visa and mastercard, banks and other psp networks all the way to the POS.
root_axis 8y ago
> Nobody denies its slow, its a waste of resources, its buggy, its hyped A lot of people deny all of that, actually. > slow They say "there is no faster way to achieve distributed consensus". > waste They say "it's not wasteful because its securing the network". > buggy They say "unlike all other software systems, it's never been hacked!". > hyped They say "it's literally the greatest innovation since the internet" > And i dont understand Why so many dont see a benefit if we could one day build true decentralized systems I have no idea, I guess most engineers are just too jealous of early adopters getting rich to be willing to give cryptocurrency a chance. There are so many problems that can be solved right now with cryptocurrency if the community would just give cryptocurrency a fair shot instead of always trying to say that it doesn't solve any real problems. Note: the previous paragraph is a satirical portrayal of a cryptocurrency enthusiast attempting to explain why the entire software community isn't hyped about cryptocurrency.