/biz/ - Business & Finance

It can't fucking scale

>>24412713
It's outdated but 2.0 will help and it's already ingrained into the crypto world since so many shitcoins use erc20

it has had issues for years but perhaps

chico here you are.good.my fren

>>24412746
This

>>24412834
Go snort some more Fentanyl you absolute degenerate druggie

>>24412713
>too many problems like Bitcoin
priced out.
zit faced
loveless
kissless
handholdless
lookless
ignorefull
homo
never made it

>>24412746
Thats what 2.0 does r-tard

>>24412834
Stop verbally abusing viewers of the tube

IT CAN'T FUCKING SCALE. HOW MANY TIMES DO WE HAVE TO SAY THIS?!?!

ETH is pure spaghetti code. ETH was without a doubt a great idea; I will not deny that at all. However, most people in crypto don't have the comprehension or knowledge to be able and look at the code-base and identify flaws that could be catastrophic, both in terms of economic, security, and overall functioning in cost signals.

Vitalik is smart. However, he's the most retarded smart person in all of crypto. He's a fucking child who doesn't own up to his inability to produce a creation and has longevity. Him and his cronies wrote shitty-ass code. It can't scale. The only way it can scale is constant upgrades each time they feel things are getting congested. This is where the problem lies. It is impossible for ETH to implement a scaling solution to where it doesn't need upgrades anymore. For ETH to work, it will need constant upgrades of ETH 2.0, 3.0, 4.0, so on and so forth for an indefinite amount of time - just kicking the can down the road. Off-chain scaling won't work either because ETH's security is already shit on a stick. Making something more complicated that is already a piece of shit is 100% pointless. People can never steadily develop something on ETH because with each 'scaling upgrade', those who are creating on ETH will have to pivot each time to ensure their product is compatible to work on ETH. To sum it up, each time ETH decides to upgrade to scale, it just gets worse.

For ETH to work to the level needed, the amount of ETH in ever single wallet needs to be known after each transaction. Since ETH cannot implement SPV, it's impossible for ETH to scale because it does not have the capabilities to know the exact amount of ETH in every single ETH wallet after each transaction at a massive scale.

The only way to permanently fix ETH would be to roll back the chain to the beginning almost. Vitalik is just your average Russian retard who can't produce anything of value

>>24412713
>like Bitcoin?
What problem does Bitcoin have?

Ethereum's problem is that it is run by a centralized authority figure who treats it like his own personal toy. If Vitalik would just smother himself under a giant pile of dripping wet Russian pussy for the next decade, maybe ETH would stop being hardforked every time he thinks of a new idea to implement.

In contrast, Bitcoin has a carefully thought out roadmap of future development in order to improve scaling while maintaining stability. There have been only two significant bugs in that entire time, one of which was fixed about 125 years before it would have been triggered.

For all of the morons chattering about how their new shitcoin "solves" some problem of "boomer" Bitcoin, just fuck off. No one wants their money to be exciting or to give custom generated monkey pictures with each address, they want it to be money. Meaning, to have value today and to retain value tomorrow. Your shitcoins aren't going to do that.

>>24412746
zksync.io

>>24413074
>The only way [ETH] can scale is constant upgrades each time they feel things are getting congested. This is where the problem lies. It is impossible for ETH to implement a scaling solution to where it doesn't need upgrades anymore.
While I agree, Bitcoin has implemented SegWit and Schnorr for exactly that problem. They fix other problems as well, but scaling was the single biggest one that they help with.

That said, BTC's roadmap for development is well thought out and planned carefully. As you say, ETH's "roadmap" amounts to Vitalik waking up and thinking "I think today I'll write another hardfork!"

>>24412713
It's a smart contract platform that solves every exchange known without the need for trust, it's possibilities are endless.
>>24412746
Retard, I swear to Jesus I can't wait to see anons like you never yourself when the realization kicks in about the opportunity of your lifetime passing you buy while you be a retard

>>24413284
Shhh...He doesn't know

>>24412713
It's the best investment out there. Don't fall for the BTC meme

>https://bankless.substack.com/p/btcs-monetary-policy-is-overrated
>https://bankless.substack.com/p/eths-monetary-policy-is-underrated
>https://thedefiant.substack.com/p/ether-is-the-best-model-for-money

>>24413074
whenever i read this i buy 1 ETH thanks

quick question.
Aint XRP the only coin that is direct contact with the banks?

it's the future of finance

>>24412713
I personally think that the only thing that will exist in the future are extremely regulated cryptos and ETH is about as pajeety as you can get with all the scam coins being made day after day. There is no way in hell this wild west shit show it the future of finance.

>>24414575
Yeah its also the only one that is actively working to be regulation compliant.

>>24414575
JPMC developed its own internally.
Goldman has developed its own code too.
Some central banks are working on their own CBDBs.
Every fucking shitcoin has done its own too, usually by copying an existing codebase and making minor changes.

This shit is not hard. What's hard is coming up with something that the entire world can accept as being fair and honest. BTC succeeded at that because Satoshi Nakamoto released it and then disappeared, so everyone knows that there is no centralized authority figure that can fuck with BTC. ETH fails because there is a centralized authority figure who is constantly fucking with it every time one of his past errors blows up in everyone's faces.

That's not to say that ETH cannot succeed, but it makes success a lot harder, because whatever Vitalik decides to fuck with today, Vitalik gets to fuck with today. Which is exactly why I didn't buy into Ethereum back in 2017 at $15, right when "The DAO" hack happened and Vitalik said "fuck it, we'll just hardfork to undo this!"

So far, BTC has only had one bug that they undid, and that was a shift-overflow error affecting a single transaction.

I remember reading about ETH on biz when it was like 70 cent

I remember when my brothers gay friend asked if we wanted to get in on this Bitcoin at 0.2 cents... we were told to never gamble with money... Thanks mom and dad.

>>24414843
JPMC nor Goldman will be able to sell their useless shit system to any other banks to use as a transfer of value. In order for them to transfer money from one CBDC to another countries CBDC they need a intermediary exchange. Otherwise each bank is stuck making useless shit code that no other bank is willing to use because its literally using the competitions product. Thats why XRP and Ripple are needed. Each countries central bank will have its own CBDC but they will be walled garden financial structure which won't allow the CBDC to leave the country. Bitcoin would have been a good hedge for inflation for all of these currencies but with China owning most of the nodes why the hell would any country put the well being of their countries entire economy in their hands. This isn't even considering the fact that its also such ancient tech. With the world moving towards the Great Reset's goals they won't have interest in using something that uses so much electricity.

>>24413409
Who makes the decision to implement things like those, and who actually does the implementation?

I thought the nature of the blockchain was immutable and that only Satoshi could ever change it...