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Ok, so from watching a few video introductions to Ethereum, I gather that you can create almost anything from it. But limitless applications doesn't mean it's g

by jcfrei 12y ago

Ok, so from watching a few video introductions to Ethereum, I gather that you can create almost anything from it. But limitless applications doesn't mean it's going to be used by everyone, right? I mean how often do we enter a contract (outside of purchases) in our lifetime? of what use are smart contracts and organizations if they are not accepted by your local jurisdiction? How much does a user care about an application that is using a decentralized blockchain to store encrypted information? For example; if he can get a slightly better service for free by google, with the only downside that his emails are checked for advertising keywords. It seems most people still put a huge premium on ease of use. the biggest application I see for Ethereum is using it akin to the SETI project, but with a reward built in. Does the Ethereum VM support advanced math? Ie. complex numbers, high precision values? if so, I see a real use case there, or maybe in the form of some online games. but I'm skeptical of the "grand vision" a this point.

drcode 12y ago
> I mean how often do we enter a contract (outside of purchases) in our lifetime? In every email you read, every website you visit, every purchase, some sort of social contract exists. > Does the Ethereum VM support advanced math? Ie. complex numbers, high precision values? No, ethereum will not be good at or used for any of those things (directly). > of what use are smart contracts and organizations if they are not accepted by your local jurisdiction? Ethereum contracts are PRECISELY for instances where they aren't accepted by local jurisdictions, that's what machine-based enforcement is all about. Bottom line, you're thinking of ethereum as a "faster horse" whereas the ethereum team is trying to build a car- The use for ethereum is that it opens up new possibilities that never existed before. (not that I'm saying it's certain to succeed at this goal.)

by jcfrei 12y ago

drcode 12y ago

> I mean how often do we enter a contract (outside of purchases) in our lifetime? In every email you read, every website you visit, every purchase, some sort of social contract exists. > Does the Ethereum VM support advanced math? Ie. complex numbers, high precision values? No, ethereum will not be good at or used for any of those things (directly). > of what use are smart contracts and organizations if they are not accepted by your local jurisdiction? Ethereum contracts are PRECISELY for instances where they aren't accepted by local jurisdictions, that's what machine-based enforcement is all about. Bottom line, you're thinking of ethereum as a "faster horse" whereas the ethereum team is trying to build a car- The use for ethereum is that it opens up new possibilities that never existed before. (not that I'm saying it's certain to succeed at this goal.)