5 ms·

luckily there are a few projects, Ethereum being one of them.

dale_glass 3y ago
Which uses of Ethereum are positive? And I don't mean abstract ideas like "smart contracts", but specific things being done that aren't scams, illegal activity, gambling, or speculation.
- madsbuch 3y ago
  it provides blockchain and smart contract infrastructure for other projects.
  - polygamous_bat 3y ago
    [flagged]
    - madsbuch 3y ago
      you should take a look at hacker news community guidelines. your tone does not promote curious and enlightening discussion.
- hanniabu 3y ago
  Here's a passive list: https://gist.github.com/hanniabu/32b0f933618a3229efe3fbc01cbb03df https://gist.github.com/hanniabu/32b0f933618a3229efe3fbc01cb...
  - Chabsff 3y ago
    I challenge you to pick a single example from this list that at the same time can't be done without blockchain, warrants the monstrous overhead, and provides utility other than "make money".
    - b112 3y ago
      Overhead? Ethereum uses almost no power, if that's what you mean.
      - Chabsff 3y ago
        If the overhead was negligible, then so would gas costs.
        b112 3y ago
        Gas costs have no relation to processing power. It wouldn't fluctuate wildly, otherwise. Eth is now POS, a laptop in a corner can now "mine" eth.
        pa7x1 3y ago
        Absolutely not. The gas fee is not moved up or down based on the cost to settle a transaction. It's an independent market based on supply and demand for blockspace. Supply is constrained because for the network to remain decentralized you need to be able to run a node inexpensively, demand is just a result of value added.
        Chabsff 3y ago
        If I want to operate a service on top of the eth blockchain, I have to factor in gas fees as part of the operation costs. That's overhead.
        pa7x1 3y ago
        Saw this comment too late, sorry. Yes, that's overhead for the operator of the service. But this is not what I was referring to, nor the OP to which I answered. He made the false assumption that the gas fee moves up or down because node operators in the network reflect the costs to settle a transaction in the price, if the costs to them goes up then, he assumed, gas fees go up. This is not how it works. Node operators don't have a mechanism to reflect the costs to settle a transaction in the gas fee. Those two prices are allowed to float independently, then there are some mechanisms coded into the protocol that tend to produce equilibriums so that there is never too much disparity and the network remains profitable.
polygamous_bat 3y ago
Maybe if we tolerate the scams and fraud for 10 more years, it will be useful? Or maybe that's fundamentally an unrealistic viewpoint [0] [0] https://blog.dshr.org/2022/03/vitalik-buterin-vs-reality.html https://blog.dshr.org/2022/03/vitalik-buterin-vs-reality.htm...
- everfree 3y ago
  What do you think we should do, other than "tolerate" it? Should we go back to the era of illegal numbers?

Which uses of Ethereum are positive? And I don't mean abstract ideas like "smart contracts", but specific things being done that aren't scams, illegal activity, gambling, or speculation.

madsbuch 3y ago
it provides blockchain and smart contract infrastructure for other projects.
- polygamous_bat 3y ago
  [flagged]
  - madsbuch 3y ago
    you should take a look at hacker news community guidelines. your tone does not promote curious and enlightening discussion.
hanniabu 3y ago
Here's a passive list: https://gist.github.com/hanniabu/32b0f933618a3229efe3fbc01cbb03df https://gist.github.com/hanniabu/32b0f933618a3229efe3fbc01cb...
- Chabsff 3y ago
  I challenge you to pick a single example from this list that at the same time can't be done without blockchain, warrants the monstrous overhead, and provides utility other than "make money".
  - b112 3y ago
    Overhead? Ethereum uses almost no power, if that's what you mean.
    - Chabsff 3y ago
      If the overhead was negligible, then so would gas costs.
      - b112 3y ago
        Gas costs have no relation to processing power. It wouldn't fluctuate wildly, otherwise. Eth is now POS, a laptop in a corner can now "mine" eth.
      - pa7x1 3y ago
        Absolutely not. The gas fee is not moved up or down based on the cost to settle a transaction. It's an independent market based on supply and demand for blockspace. Supply is constrained because for the network to remain decentralized you need to be able to run a node inexpensively, demand is just a result of value added.
        Chabsff 3y ago
        If I want to operate a service on top of the eth blockchain, I have to factor in gas fees as part of the operation costs. That's overhead.
        pa7x1 3y ago
        Saw this comment too late, sorry. Yes, that's overhead for the operator of the service. But this is not what I was referring to, nor the OP to which I answered. He made the false assumption that the gas fee moves up or down because node operators in the network reflect the costs to settle a transaction in the price, if the costs to them goes up then, he assumed, gas fees go up. This is not how it works. Node operators don't have a mechanism to reflect the costs to settle a transaction in the gas fee. Those two prices are allowed to float independently, then there are some mechanisms coded into the protocol that tend to produce equilibriums so that there is never too much disparity and the network remains profitable.

polygamous_bat 3y ago

Maybe if we tolerate the scams and fraud for 10 more years, it will be useful? Or maybe that's fundamentally an unrealistic viewpoint [0] [0] https://blog.dshr.org/2022/03/vitalik-buterin-vs-reality.html https://blog.dshr.org/2022/03/vitalik-buterin-vs-reality.htm...

everfree 3y ago
What do you think we should do, other than "tolerate" it? Should we go back to the era of illegal numbers?