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Can we talk about how a modern language designed to handle money transfers did not have basic tooling like this until now, yet was used multiple times to make m

by q3k 8y ago

Can we talk about how a modern language designed to handle money transfers did not have basic tooling like this until now, yet was used multiple times to make millions of dollars of income?

mhluongo 8y ago
Sounds like every new programming language before the tooling became more robust? Excited about this stuff, but Truffle has obviously been getting the job done. If you want to pick on Solidity focus on how unsafe the language itself is IMO
Tade0 8y ago
You mean actual income or ICOs?
- chenpengcheng 8y ago
  Outsiders may think people made a lot of money in the ICOs. I wanted to answer that question so I dug a bit and found out what really happened: a lot of the developers didn’t make much money because they are just like any average people — when prices go up, they don’t sell and when prices come down, they hold. Some of them even “diversified” their gains into many other projects in the same space, so even it may look great on paper that someone who has invested in many crypto projects must be insanely rich. The truth is many of the had a spectacular run directly into the ground. The big money is not made in speculation as always. It is made when we build something which will last for a long time and we capture the value in the future (in the next decades).
chenpengcheng 8y ago
If it is just a language for money transfer, it won’t be built. The motive behind Ethereum & the languages is to go beyond money transfer. Once we have a VM and a general purpose language, you can only imagine what can be built. But at the time of speaking, Ethereum needs a lot of plumbing before we can build cool stuff more easily. OpenZepplin, Truffle and Infura are the best tools we have now. Speaking of making millions (if not billions), that is a different story. I personally attribute it the manipulation of bitcoin prices by large traders because of lack of regulation and the herd problem that most of us can run into at one time or another. It also demonstrated the power (although in a bad way) of an open financial system.

by q3k 8y ago

Can we talk about how a modern language designed to handle money transfers did not have basic tooling like this until now, yet was used multiple times to make millions of dollars of income?

mhluongo 8y ago

Sounds like every new programming language before the tooling became more robust? Excited about this stuff, but Truffle has obviously been getting the job done. If you want to pick on Solidity focus on how unsafe the language itself is IMO

Tade0 8y ago

You mean actual income or ICOs?

chenpengcheng 8y ago
Outsiders may think people made a lot of money in the ICOs. I wanted to answer that question so I dug a bit and found out what really happened: a lot of the developers didn’t make much money because they are just like any average people — when prices go up, they don’t sell and when prices come down, they hold. Some of them even “diversified” their gains into many other projects in the same space, so even it may look great on paper that someone who has invested in many crypto projects must be insanely rich. The truth is many of the had a spectacular run directly into the ground. The big money is not made in speculation as always. It is made when we build something which will last for a long time and we capture the value in the future (in the next decades).

chenpengcheng 8y ago

If it is just a language for money transfer, it won’t be built. The motive behind Ethereum & the languages is to go beyond money transfer. Once we have a VM and a general purpose language, you can only imagine what can be built. But at the time of speaking, Ethereum needs a lot of plumbing before we can build cool stuff more easily. OpenZepplin, Truffle and Infura are the best tools we have now. Speaking of making millions (if not billions), that is a different story. I personally attribute it the manipulation of bitcoin prices by large traders because of lack of regulation and the herd problem that most of us can run into at one time or another. It also demonstrated the power (although in a bad way) of an open financial system.