/biz/ - Business & Finance

>>21604419
Harmony

This only makes me more bullish.

>>21604419
Polkadot

>>21604493
30% of my portfolio is ETH anyway but holy fuck 2.0 isn't coming any time soon
>>21604453
>>21604497
why tho
Polkadot seems father along but Harmony is backwards compatible with Solidity which means it will be way easier to port all the defi shit over

>>21604419
hes a strange dude... and ETH 2.0 is a long ways away...

but i still have hope in the long term

>>21604705
Doesn't really even matter because most layer 1 apps like compound and maker will migrate to layer 2 solutions by end of year (optimistic rollups). dydx will leverage starkware to go L2. Basically by this time next year it won't even matter much if ETH2.0 isn't fully rolled out.

fantom. Nothing else competes

>>21604419
Cardano

If this couldn’t kill eth then nothing can.

https://m.youtube.com/watch?v=j7MeJionPMA

>>21604808
>>21604883
kek you guys I'm being serious

>>21604419
ethereum won retard

>>21606044
all fun and games till the next yams drops and you have to pay 40$ in gas fees to swap your shitcoins

>>21606139
No decentralized ethereum competitor can win (even including DPoS here).

Bitcoin didn't lose dominance in adoption because of scaling, it lost because it didn't have full smart contracts - ethereum could do things bitcoin couldn't at all.

Contrary to intuition, scaling is irrelevant as a sole competitive advantage because poorest users are priced out first, and poorest users don't have enough wealth to make other platforms grow. This creates a weird dynamic where lack of scalability impairs growth of crypto as a whole as poor newcomers are turned away one-by-one completely, but wealthier aren't, which prevents the emergence of a more scalable alternative.
It would take something like facebook to dump millions of users at once to change this dynamic, but no current 'ethereum killer' has this capability, as inherently this requires a centralized entity to leverage its userbase, which precludes any decentralized network.
In other words, ethereum is there to stay and no decentralized competitor is ever going to unseat it in terms of adoption (market caps are another thing, xrp pumped above eth once). Ethereum has turing-complete smart contracts so there's no functionality left that ethereum can't do at all.

If you thought that's 'anonymity' that's incorrect - few realize this, but full anonymity is coming to ethereum AND those transfers are going to be cheaper than current eth transfers (including for tokens). Xmr with its tiny userbase (13k daily transactions) is going to get eaten alive.

>>21605343
DUDE WEED LMAO

>>21606189
you are a deluded cultist and I say this as someone who develops solidity contracts for a living

>>21606189
Uhm try again sweetie

>>21606251
>someone who develops solidity contracts for a living
while I have made enough from crypto to live the rest of my life from it. I'm clearly better than you at predicting the future.

Also developing in solidity is nothing special I write in it to bundle more complex actions and the ability to audit code is vitally important given the amount of scams, the money to be made currently from if you know how to avoid them is insane

>>21606189
Doesn't DOT somewhat disrupt your argument though as Ethereum can be run as a parachain on DOT? As I understand it, DOT doesn't have to replace Ethereum as it can just take the parts of ethereum it wants wholesale and then build around it.

>>21606436
Ethereum is like Myspace people only use it because they don't have easy access to the superior ONE

>>21606189

>>21604419
Fantom, unironically

>>21606436
>DOT doesn't have to replace Ethereum as it can just take the parts of ethereum it wants wholesale and then build around it.
Stripped from marketing, polkadot is a very similar model to eth2 phase2, just with a much less decentralized consensus. If you have turing complete vm you can code anything, including another vm. That's also true for current ethereum (eth1), although with poor scalability.
It's just another ethereum killer.

>>21606189
Wtf?
A good post?
On MY biz!?

>>21604419
Bet he played ally, the chad

>>21606973
literal nonsense
>scaling doesn't matter because 100 dollar fees going down the drain on a failed transaction is going to attract rich people
ramblings of a lunatic

That bio is an actual butterfly effect

>>21607097
Doesn't sound like you understood his point at all.

>>21606665
Yeah, but nothing is gonna kill ETH. I think we're seeing the first project that will be a legit competitor though.

As an analogy using websites, all the other layer 1s are telling websites developers that they can come use some new / better alternatives to JavaScript they need to learn and they need to convince their customers to download a new browser. DOT is saying you can keep coding in your preferred language and interact with your current customer base where they're already located.

I'm not saying DOT will definitely succeed, but it is light-years ahead of any other layer 1 competitors.

>>21607205
Yes, I did, and it's retarded. That's simply not the way financial systems work, otherwise banks would charge 20x their fees to try and reel in Bezos. If another platform that actually scales gets any sort of userbase before 2.0 releases it will at the very least steal a huge chunk of the marketcap from ETH, and the chances of that happening are pretty much 1:1

>>21606364
Do you just check general code quality?
What does this auditing entail?

> t. Senior Linux Admin, scripting but no true coding skills.

ETH needs competition or the market is doomed

>>21604978
I can’t believe it’s going to be fees that kill eth rather than this

>>21606189
>servicing billions isn’t worthwhile
Ok fucking retard kys

So much eth fud out here right now. I can’t wait, so fucking bullish

>>21604419
XSN if you aren’t a nigger.

TRON
JUSTSWAP

nothing is going to kill eth it will just have competitors which is good bc that will force to be better.

>>21607351
Nothing you posted indicates that you understood it. You're just repeating the same midwit talking points over and over.

>>21604978
Holy shit, this has compelled me the strongest to sell in a long time.

>>21604419
To make more money in the short term?
Harmony
The better product and network that has more long term upside
Polkadot

>>21607303
>DOT is saying you can keep coding in your preferred language and interact with your current customer base where they're already located.
but it's not, that's marketing. They have a stateless design with a vm. Every parachain has a 'state transition function' encoded in that vm. Block proposers create new blocks that change the state according to that 'state transition function', they send it to the 'relay chain', the 'state transition function' is executed given new state and the hash of the subsequent state is recorded on the relay chain.
Ignoring scalability from parallel execution, you could do the exact same thing on ethereum right now: encode an arbitrary consensus in a smart contract, allow operators (block proposers/collators) to submit new blocks, the contract executes the consensus function and record the hash of the resulting state, repeat.
In fact that's how zk-rollups on ethereum work - except what's checked on-chain is a zk-snark (or stark).

There's nothing unique about this. They may very well release it before eth2 sharding, but in terms of capability it's almost identical to eth2. The future is in zk-rollups anyway and pretty much all advances are happening on ethereum.
>>21607363
Checking if someone can steal what I deposit (admin access, backdoors), or for bugs. Currently I just make text diff between the newest yfi clone and yfi and just look at the differences.
Eg. right now there's a yam2 pool made by brainlets that doesn't know how to handle rebases, creating an unintentional fractional reserve situation.
When putting tokens into a pool you should additionally check if someone can mint infinite amounts of one of the tokens, as that would allow them to clean the other token from the pool (yffii-something did that, and stole dai from a balancer pool).

If you can't do that on your own you're either taking enormous risk and risking everything, or you're missing on sometimes 2000% APY by not participating.

>>21607611
>Contrary to intuition, scaling is irrelevant as a sole competitive advantage because poorest users are priced out first, and poorest users don't have enough wealth to make other platforms grow. This creates a weird dynamic where lack of scalability impairs growth of crypto as a whole as poor newcomers are turned away one-by-one completely, but wealthier aren't, which prevents the emergence of a more scalable alternative.
this is factually incorrect and you don't even need a background in computer science to understand why. basic logic is enough to know that something which works better will out-compete other things. we aren't talking about 10% extra fees, we are talking orders of magnitude on more fee for a fraction of the TPS. the only answer ETH had was 2.0 which is fucked atm.
>sure it costs more to transport goods by horse and carriage and it takes a lot longer, but these economic barriers create a weird dynamic where lack of scalability impairs growth of transportation as a whole as poor newcomers are turned away one-by-one completely, but wealthier aren't, as they can afford stables and what not, which prevents the emergence of cars

>>21607745
Why do you the harmony will go up in the short term?

Eth is the only option available. It’s the MySpace of contracts. Once a better platform/platforms comes along (scaling, reduced fees, and easy transporting to the new platform) ethereum will be left. No one wants to invest 50$ and spend 30$ in gas fees. People were flocking to robinhood cuz they didn’t want to spend 5$ in fees.

>>21607997
>Hydra solution allows up to 1 million TPS
>Fees are like a cent compared to ETH's $3
>ERC20 token converter
I can think of something that fits the bill

>>21607363
Hey have a live example
https://etherscan.io/address/0x880f0550f0972231dad1eba238f5925367338c6d#readContract
the token called YAM has rebases (currently a series of negative rebases - 1 yam turns into <1 yam) and has the to be deposited in this contract to farm 'yam2'. The contract was deployed by brainlets who just copy pasted, so what happens is that if you deposit before a negative rebase, after a negative rebase you can still withdraw the same amount you deposited, even though the supply has shrunk.
As a result it turned into a ponzi where people who withdraw last aren't going to be able to. The contract is only 79.1% solvent and it's going to go down with each withdrawal or negative rebase
>>21607931
>basic logic is enough to know that something which works better will out-compete other things
as evidenced by litecoin that outcompeted bitcoin in 2011 thanks to its faster confirmations and higher throughput?

>>21606539
What is superior?

>>21608289

>>21608289
What’s a suicide stack?

What's the new polkadot make it stack frens?

>>21608430
75k ADA

All of you blockchain virgins are going to bow to IOTA within 6 months. Screencap it

>>21607854
>Checking if someone can steal what I deposit (admin access, backdoors), or for bugs.
I'm in a group that does something similar reviewing new shitcoins. It's a lot of fun.
>>21607931
Nah I'm sticking with my original conclusion that you literally do not get the central point of his post. You understand that it's he's talking about scaling, but I don't believe you're following the logic of the argument.

>>21608520
Is a suicide stack how many coins will make you suicide?

>>21608305
Have to agree. A large majority of adoption is name brand/marketing. Boomers only know bitcoin. Msft windows isn’t so great but convenience and name recognition makes it the most used for desk tops. Then Once you start throwing ethereum, tezos, cardano, harmony, algo, polkatdot and all the other names, things start getting blurred.

So which coin spends the most on marketing and has the biggest pile of cash? And which ceo has the biggest vision. McDonald’s ray kroc made mcd huge because he turned it into a real estate company. Amzn blew up because he turned it from online e-commerce to big data analytics. Who has the vision to turn smart contracts into a fully functional ai/commerce legal system? Money, law, uniform commercial code is nothing but contracts.

>>21604419
> the others, lel, they went for the center
> i simply plopped a utility function in there and voila, 3rd place!
Shit, should I sell my eth for btc?
I thought he was supposed to be an abstract mastermind, he doesn’t even realize things like “value control of the center” is a typical component of a utility function, i.e. from an abstract pov the others were also using a utility function even if not explicitly named as such in the code. Sure, you can send your bots out with the utility function “don’t die” and let them figure out the rest, but then you need a few more iterations to end up 3rd place than on your first try. In other words, Vitalik’s utility function would have had a few explicit strategies like “value the center” and that’s what they were asking about, he just thought he was too clever so he didn’t even understand the question.

Does noone in this thread understand that bio is just a shitpost?

>>21609312
ITT: when autists read another autist's joke

>>21604419
DOT/KSM are the future. /end thread

>>21608809
Fuck I just sold all my eth for tron

>>21608809
It's not about brand or marketing, it's about network effects. To move defi somewhere else you would need to move, at once:
- assets (tokens with holders, users)
- traders of these assets (for on-chain liquidity) (partially disjoint from users)
- lenders and borrowers (partially disjoint set from traders)
- dapps and tools, developers in general
- general community of users

Ethereum competitors try to solve this with money. Some assets can be enticed with money (usually a stablecoin like usdt, it's on many chains) - this part barely works because real liquidity is still off-chain. They also try to pay for dapp development which inevitably fails, because you can't buy entrepreneurship, so what they end up buying are poor clones of ethereum dapps made by incompetent developers. They also pay for tools (which stop being managed as soon as payments stop), this is the only thing that can be actually bought.

EOS did everything they could with their money stash and still it fizzled away. It was and is 100x more scalable than ethereum. You simply can't buy an ecosystem.
EOS was an empirical test of a hypothesis: can ethereum be flipped by a more scalable competitor, one that doesn't have millions of users from somewhere (see the previous point about facebook). The answer: it can't.
Everyone with money in some ethereum killer should first try to explain why EOS failed at killing ethereum. It's very funny that many of these ethereum killers don't even have smart contracts right now, while eos started with them and 100x more scalability from day one, yet they expect to win where eos failed with way stronger ethereum.

>>21604808
this.

>>21609725
>To move defi somewhere else you would need to move, at once:
Nah. It can happen slowly. And will.

>>21609774
Why not just Lit on top of Eth?

Also, Cosmos has some mental devs, but is making some progress

>>21609716

Based as fuck, did the same thing.

>>21609088

Checked. Prost!

Time to buy Bitcoin.