Cryptocurrency

[Anonymous No.24155421]

What is the point of Ethereum?


This is very funny and I laugh at the unquestioning vapidity of people who say "smart contract" and just let other people fill in the details as to what that should mean and what the value should be. The mistake here is that "smart" is a misnomer. A contract, as we have known them for many hundreds of years, is already smart because it can often require the work of a solicitor or barrister to argue for or against the individual clauses of a contract; contract wording requires interpretation and that can require some of the highest order thinking. It is therefore smart.

A contract on Ethereum, then, isn't smart. It is a dumb contract. It is dumb in the sense that it executes itself, whether it has been audited and validated or not. And for that reason, you get fraud, after hack, after loss, after gimmick, after scam and essentially fuck all in-between.

And for what reason would anybody need to run computer programs in a decentralised way? What the fuck is the point? I can understand a currency being decentralised; that is completely intuitive and innovative, but running programs is useless as it is so insanely inefficient. Anything you could run on Ethereum you can run on AWS and it will be cheaper, faster and more secure, therefore resolving the trilema and revealing Ethereum to be completely and I mean COMPLETELY redundant. Just because something can work doesn't mean it has value, much like a kettle connected to a dynamo on an exercise bike would work. Where is the value in ETH? It’s value is composed of people scamming one another. Look at the fucking /biz/ catalog. You tell me if you think ETH has a future with this nonsense RAMPANT low IQ shilling of erc-20 tokens that serve no purpose

Ethereum is a fucking joke.

[Anonymous No.24155476]

>>24155421
>A contract, as we have known them for many hundreds of years, is already smart because it can often require the work of a solicitor or barrister to argue for or against the individual clauses of a contract
that's like the literal definition of a DUMB contract

[Anonymous No.24155503]

Craig Wright is unironically Satoshi Nakamoto. Blockstream - owned by Bilderberg group - intentionally crippled BitCoin by refusing to raise the blocksize cap as was the original design, this caused the adoption and growth in BitCoin to stagnate and collapse due to the artificially high transaction fees imposed by tiny blocks. BitCoin would be at least $50,000 by now if it wasn't for Blockstream, they don't want BitCoin to challenge the central banking system which Craig has spoken out against multiple times.

The original BitCoin protocol lives on as Bitcoin SV (Satoshi's Vision). Craig's company nChain has been hard at work to eliminate the CPU bottleneck in the Bitcoin node software which was originally only single-threaded, rumour has it BSV miners are upgrading to Xeon Phi processors (64 cores) which the code is now being optimised for (thanks to the work by Steve Shadders). This is due to be finished by February 2020 for the Return to Genesis upgrade which will remove all limits in the BSV protocol code and lock down the protocol, with the software limitations removed BSV will be ready for unbounded scaling with the short term goal of sustained 1 Terabyte blocks and millions of transactions per second.

[Anonymous No.24155551]

[Anonymous No.24155595]

>>24155503
don't care about that bullshit you are trying to refine smart contracts is more interesting.

the smart contract by definition executing itself and enforcing autonomously it's terms and conditions. from Nick Szabo
>The basic idea of smart contracts is that many kinds of contractual clauses (such as liens, bonding, delineation of property rights, etc.) can be embedded in the hardware and software we deal with, in such a way as to make breach of contract expensive (if desired, sometimes prohibitively so) for the breacher.
https://www.fon.hum.uva.nl/rob/Courses/InformationInSpeech/CDROM/Literature/LOTwinterschool2006/szabo.best.vwh.net/smart_contracts_2.html

[Anonymous No.24155613]