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I have a different take on this. In the next 10-20 years, I could earn DAI (dollars backed by ether), and buy items with DAI or ETH, and borrow mortgages on DeF

I have a different take on this. In the next 10-20 years, I could earn DAI (dollars backed by ether), and buy items with DAI or ETH, and borrow mortgages on DeFi in ETH or DAI once I have a digital identity issued on Ethereum with collateral / trust built in. I also see no reason for Bitcoin.

doggosphere 6y ago
Eth has a different supply limit. I love Ethereum but think that Bitcoin solves something different.
- whoisninja 6y ago
  Ethereum has some respect because atleast it is not an outright scam. But consider following : - Rollback done during DAO hack - Policy of minimum issuance but they're changing the issuance to more tighter issuance "going fwd" - They are changing the main consensus algo from proof of work to proof of stake if you understand and try to work on it you will understand how centrally planned it is becoming and how clunky their nodes are to run and their entire execution is chaos. it is hard to put serious money on something like that but sure you can bet on it ...
  - doggosphere 6y ago
    The Ethereum network has much larger and complex technical aspirations than the Bitcoin network. I'm okay that its only lead by a few people, that they did a rollback, etc. We are in the earliest days of decentralized infrastructure; laying the foundations for something that can physically last forever is more important following stringent, irreversible protocols. Ethereum as of today has many limitations, but has a chance to literally be THE future of decentralized computing. It's worth trading whatever we have now for a chance at that future.
    - whoisninja 6y ago
      those aspirations are futile if there's compromise on decentralization... + most projects on Ethereum are not decentralized if you think how they're raising funds from the VCs => they've jurisdictions anyways...but good luck to them i hope it works out

doggosphere 6y ago

Eth has a different supply limit. I love Ethereum but think that Bitcoin solves something different.

whoisninja 6y ago
Ethereum has some respect because atleast it is not an outright scam. But consider following : - Rollback done during DAO hack - Policy of minimum issuance but they're changing the issuance to more tighter issuance "going fwd" - They are changing the main consensus algo from proof of work to proof of stake if you understand and try to work on it you will understand how centrally planned it is becoming and how clunky their nodes are to run and their entire execution is chaos. it is hard to put serious money on something like that but sure you can bet on it ...
- doggosphere 6y ago
  The Ethereum network has much larger and complex technical aspirations than the Bitcoin network. I'm okay that its only lead by a few people, that they did a rollback, etc. We are in the earliest days of decentralized infrastructure; laying the foundations for something that can physically last forever is more important following stringent, irreversible protocols. Ethereum as of today has many limitations, but has a chance to literally be THE future of decentralized computing. It's worth trading whatever we have now for a chance at that future.
  - whoisninja 6y ago
    those aspirations are futile if there's compromise on decentralization... + most projects on Ethereum are not decentralized if you think how they're raising funds from the VCs => they've jurisdictions anyways...but good luck to them i hope it works out