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I honestly think eth2 will have an incredible effect. Think of all the developing countries or countries without proper financial infrastructure, even places wh

I honestly think eth2 will have an incredible effect. Think of all the developing countries or countries without proper financial infrastructure, even places where you do not trust your local currency. All these places will benefit hugely from a bootstrapped currency ready to be deployed for very little effort. Launching an ecommerce will suddenly be much easier for a many more people. I'm also very interested in seeing how governments will respond, the revolution WILL be coming whether they like it or not.

rich_sasha 6y ago
I can well imagine for politically-unstable countries this is very good. Not really sure about the rest of the world! Besides, one distant analogy: I remember reading how internet will revolutionise totalitarian governments, because it is an unstoppable river of information. Well, China, North Korea and Saudi Arabia are going strong regardless. Bitcoin/eth are great, until some crony government introduces the death penalty for using it, or sth.
- ngcc_hk 6y ago
  The technical infra vs the conceptual architecture enabled the one sided internet per china.
alexmingoia 6y ago
E-commerce doesn't require digital currency. I live in a country without digital payments infrastructure, and there's lots of e-commerce (primarily via Facebook). It's all cash-on-delivery. I've ordered food, furniture, baby supplies, medicine, etc. from businesses on Facebook and pay on delivery.
- globular-toast 6y ago
  Very interesting perspective. Most people who live with bank money can't even imagine a world without it. There is one thing a centralised digital currency makes far easier, though. It makes it easier to "print" new money and cream that off into bankers' pockets. Most of the richest people in the world are in finance.
lawn 6y ago
I fail to see what eth2 would provide that other solutions and other cryptocurrencies don't already provide.
- mikkelam 6y ago
  Real global-level scale. With PoW no cryptocurrency was really scalable to some meaningful transactions per second.
  - keymone 6y ago
    there already are cryptocurrencies claiming the same thing: iota, eos, tron and probably thousands more. so what's different this time? to me it seems ETH is always overpromise, always underdeliver kind of project. they promised global scalable world computer since inception in 2015, now they say it was never possible with ETH1 and they need to hardfork to ETH2. why do you have any confidence in their statements?
    - mikkelam 6y ago
      Is one not allowed to learn ? I'm not familiar with eth foundation's statements but they have matured a lot since 2015 and i wouldn't say they underdeliver, there are 100s of real world applications that are using eth dapps already today. I believe it's different because i understand the tech. It's feasible. Assuming PoS works, it will scale. Eth2 is also not hard fork. The old chain will be attached to the new chain
      - keymone 6y ago
        PoW has nothing to do with scaling and so PoS isn't a way to address it. if you're making this claim, i would suggest to reconsider your belief that "it's different because i understand the tech". PoW and PoS are algorithms to order transactions, but how many transactions and how often to order them are just tunable parameters. the real scalability "tech" that is being sneaked in while everybody is busy talking about PoS is sharding, which essentially means abandoning the idea of serializability of the underlying database, leading to vastly more complex failure modes, reliance on very tight clock synchronization and zero real world testing of such approach. so yeah, good luck...
ajkdhcb2 6y ago
If you don't trust your government or your personal safety, I can't imagine that it will be smart to use currencies like this that have ZERO privacy. I will stick with Monero. They have gone through all this complex redesign apparently without a single thought given to privacy; looks like a disaster.
- totony 6y ago
  This is still a good milestone, because you can implement privacy concious tokens on top of eth and PoS will apply to them.
- woahAcademia 6y ago
  I like monero, but these are complete different use cases. Ethereum wants to be a database, monero wants to be a currency.
  - zalkota 6y ago
    Ethereum is an ecosystem, you can create monero on top of it.
- msie 6y ago
  When you say “They” you must mean Ethereum.
- nootropicat 6y ago
  Ethereum is getting anonymity very soon. https://medium.com/aztec-protocol/aztec-zkrollup-layer-2-privacy-1978e90ee3b6 https://medium.com/aztec-protocol/aztec-zkrollup-layer-2-pri... Monero doesn't have many users (the daily transaction count is also maximum daily user count), so achieving a larger anonymity set should happen very fast. It's also going to be much more scalable. Not to mention anonymous dollars are a unique value proposition in itself.
itsthecourier 6y ago
Ecommerce also depends on the ability to question your credit card charges. Something you cannot do with ethereum. Don't get me wrong, I use ethereum, but I'm aware of its limitations

rich_sasha 6y ago

I can well imagine for politically-unstable countries this is very good. Not really sure about the rest of the world! Besides, one distant analogy: I remember reading how internet will revolutionise totalitarian governments, because it is an unstoppable river of information. Well, China, North Korea and Saudi Arabia are going strong regardless. Bitcoin/eth are great, until some crony government introduces the death penalty for using it, or sth.

ngcc_hk 6y ago
The technical infra vs the conceptual architecture enabled the one sided internet per china.

alexmingoia 6y ago

E-commerce doesn't require digital currency. I live in a country without digital payments infrastructure, and there's lots of e-commerce (primarily via Facebook). It's all cash-on-delivery. I've ordered food, furniture, baby supplies, medicine, etc. from businesses on Facebook and pay on delivery.

globular-toast 6y ago
Very interesting perspective. Most people who live with bank money can't even imagine a world without it. There is one thing a centralised digital currency makes far easier, though. It makes it easier to "print" new money and cream that off into bankers' pockets. Most of the richest people in the world are in finance.

lawn 6y ago

I fail to see what eth2 would provide that other solutions and other cryptocurrencies don't already provide.

mikkelam 6y ago
Real global-level scale. With PoW no cryptocurrency was really scalable to some meaningful transactions per second.
- keymone 6y ago
  there already are cryptocurrencies claiming the same thing: iota, eos, tron and probably thousands more. so what's different this time? to me it seems ETH is always overpromise, always underdeliver kind of project. they promised global scalable world computer since inception in 2015, now they say it was never possible with ETH1 and they need to hardfork to ETH2. why do you have any confidence in their statements?
  - mikkelam 6y ago
    Is one not allowed to learn ? I'm not familiar with eth foundation's statements but they have matured a lot since 2015 and i wouldn't say they underdeliver, there are 100s of real world applications that are using eth dapps already today. I believe it's different because i understand the tech. It's feasible. Assuming PoS works, it will scale. Eth2 is also not hard fork. The old chain will be attached to the new chain
    - keymone 6y ago
      PoW has nothing to do with scaling and so PoS isn't a way to address it. if you're making this claim, i would suggest to reconsider your belief that "it's different because i understand the tech". PoW and PoS are algorithms to order transactions, but how many transactions and how often to order them are just tunable parameters. the real scalability "tech" that is being sneaked in while everybody is busy talking about PoS is sharding, which essentially means abandoning the idea of serializability of the underlying database, leading to vastly more complex failure modes, reliance on very tight clock synchronization and zero real world testing of such approach. so yeah, good luck...

ajkdhcb2 6y ago

If you don't trust your government or your personal safety, I can't imagine that it will be smart to use currencies like this that have ZERO privacy. I will stick with Monero. They have gone through all this complex redesign apparently without a single thought given to privacy; looks like a disaster.

totony 6y ago
This is still a good milestone, because you can implement privacy concious tokens on top of eth and PoS will apply to them.
woahAcademia 6y ago
I like monero, but these are complete different use cases. Ethereum wants to be a database, monero wants to be a currency.
- zalkota 6y ago
  Ethereum is an ecosystem, you can create monero on top of it.
msie 6y ago
When you say “They” you must mean Ethereum.
nootropicat 6y ago
Ethereum is getting anonymity very soon. https://medium.com/aztec-protocol/aztec-zkrollup-layer-2-privacy-1978e90ee3b6 https://medium.com/aztec-protocol/aztec-zkrollup-layer-2-pri... Monero doesn't have many users (the daily transaction count is also maximum daily user count), so achieving a larger anonymity set should happen very fast. It's also going to be much more scalable. Not to mention anonymous dollars are a unique value proposition in itself.

itsthecourier 6y ago

Ecommerce also depends on the ability to question your credit card charges. Something you cannot do with ethereum. Don't get me wrong, I use ethereum, but I'm aware of its limitations