The blockchain is 80 GB bigger than Bitcoin's, and the scaling issue has no current solution, in fact, Dapps still cannot work well because of this. To make things even worse, people are starting to question the real world use of Ethereum, and the reason is that Eth wasn't created to be a store of value in the first place, it's only a platform to run smart contracts and Dapps.
I'TS NOT A COMMODITY, IT'S NOT A CURRENCY, IT WAS NEVER MEAN TO BE ANY OF THOSE THINGS.
Plus: - ICO scams non stop. - Vitalik going ape shit on twitter for no reason. - It's been 4000% pumped only this year.
TL;DR: Ethereum is not doing what it's supposed to do, and when heavy investors realize that, there will be a fucking real crash.
dear boy, thank god you weren't around when the Internet first went mainstream. You'd never have survived
Josiah Diaz
Once again, Ethereum is in it's alpha/beta stages and has experienced exponential growth that exceeds its current capacity.
Developers have a clear road map for implementing a fix to the scaling issue via the Metropolis fork which should be implemented in the upcoming months and have already began planning for sharding, see - vitalik.ca/files/basic_sharding.html
As for ICO's, they're a waste of money. But it's not ethereums fault, it's the user's FOMO and the unrealistic standard that all crpytos experience 1000% growth so ill informed nocoiners through everything they can into them with the hopes of getting rich. I agree with you that Eth is not meant to be a store of currency, however you can see every single crypto being treated as such. To be honest, it's not even used as a store of currency. It's price is speculative based on it's future applications as Web 3.0
Keep spreading FUD senpai, ethereum is the future.
Sebastian Ross
ETH will be fine All it needs is the Raiden network
Oliver Adams
Vitalik is dead and they have uploaded his consciousness to the ethereum blockchain.
He will solve the scaling issue by directing transactions with his mind.
Colton Jones
>the scaling issue has no current solution
They're already working on a solution where the blockchain itself would be distributed across the network, though. There's no reason that every node has to store the entire blockchain locally, it's just how it was set up during the original development.
Long term, the fact that the blockchain stores every single API call to every DApp ever probably will be a problem, though.
Parker Powell
Is 80GB a problem? You can buy a drive with 2 TB today. Honest question.
>To make things even worse, people are starting to question the real world use of Ethereum Says who?
I'm officially a software dev (math PhD, actually) and people are already asking me for gigs and I'm only 2 weeks reading up on this shit.
Maybe it's because it's such a meme right now, but there's a lot going on and Etherium won't fall anytime soon. Of course, it's your a 18yo boy and have 2k in the market, the 50$ dip may be a big deal to you - but really chill the fuck out and think on a 3 year time scale.
Anthony Clark
this
if bitcoin saw this kind of trafic that eth is experiencing, it would fucking crash and burn faster than the twin towers
and people seem to forget that ethereum is still being developed, we are still in early alpha stage at the very best
there's plenty of shit coming up that will solve these kind of issues, raiden will enable 1 million transfer per second, sharding will cut the blockchain storage space down to a fraction and give more scalablity, so will state channels and proof of stake
and most of those things are expected to be released this year
Ryan Ross
Vitalik died on an oil tanker in the galapagos 2 years ago
Hudson Wright
kek'd
Easton Price
Ethereum will use I.Exec together with sharding and Raiden to solve all of this and will be fine.
>mark my words
Juan Jackson
>if bitcoin saw this kind of trafic that eth is experiencing, it would fucking crash and burn faster than the twin towers
what if i told you that btc have more traffic then eth?
daily reminder that btc have always had more traffic then eth lol
Luis Reyes
funny guy
overall, bitcoins transactions is higher, but it hasn't experienced the massive spikes that eth has
try send a quarter of a billion dollars worth of bitcoin through the blockchain in under 3 hours, followed by another 150 million a week later and see what happens
Justin Roberts
daily reminder that btc's traffic represents some degree of actual, real-world use while eth's traffic is literally 99% speculative trading and pumping ICO scams.
Eli Walker
HYPE.
>most of those things are expected to be released this year
LIES.
Leo Scott
If you don't want to hold your ETH anymore, give it to me. I will carry this burden for you.
Evan Russell
Are you pretending to be retarded? BTC has and always had more traffic than ETH.
BTC is used as a bridge to trade altcoins. It's store of value and It's actually accepted as form of payment in many places. It's the main coin accepted on the darknet. What about ETH? People literally don't use ETH except to buy ICOs
Camden James
>see what happens
The mining difficulty would adjust so that blocks containing the large number of transactions would still be completed within the block time specification. Confirmations would probably be a little slow, though. Instead of waiting 2-3 additional blocks for confirmation to go through, you might have to wait 4-5.
Lincoln Harris
Sharding and keeping network wide consensus is scientifically infeasible. That's the kicker. The eth foundation arr literally trying to do something any theorethical computer scientist can tell you is impossible. Wikipedia: CAP theorem. All these millions spent on what basically amounts to alchemists trying to make gold out of lead.
You pretty much have to use a SSD to have any hope of syncing the blockchain in any reasonable time. Fairly high barrier of entry.
Blake Hughes
The mining difficulty has literally nothing to do with number of transactions on the network.
Liam Cook
>what is private sidechain kek
oh lo and behold the average intelligence of the simple minded ethcuck who is justifying his bags in a failing ponzi scheme, whenever struck with real arguments, he fails at producing a objective counter-argument and falls back to mock his opponent. sad!
Angel Fisher
I have said this a bunch of times already, but I'll say it again: BTC value was acquired over time because it proved to be a reliable and trustworthy currency, it survived and increased its value even after all these years in a extreme volatile market. The growth of BTC was healthy and organic, while the growth of ETH was too quick and based on hype rather than what ETH actually managed to do.
If you want a long term investment, BTC is still the only way to go. It was like that 8 years ago, it was like that 2 years ago and it is like that now. As long as crypto keep growing BTC will grow, because it's literally the pillar that sustain the whole thing. ETH is just hype, it it falls, it won't take the market with it.
Gabriel Ramirez
>slock.it
Slock.it is a fucking meme dude.
Also, this article is a retarded company "experimenting with blockchain" because it's the newest meme hype thing to do. Again, no real-world application.
Cameron Long
>not realizing paradigms can evolve and improve I feel sorry for you user
Caleb Parker
...
Josiah Wilson
But doesn't the CAP theorem mean that fully secure distributed systems are impossible, and so sharding is futile?
The CAP theorem is a result that has to do with distributed consensus; a simple statement is: "in the cases that a network partition takes place, you have to choose either consistency or availability, you cannot have both". The intuitive argument is simple: if the network splits in half, and in one half I send a transaction "send my 10 coins to A" and in the other I send a transaction "send my 10 coins to B", then either the system is unavailable, as one or both transactions will not be processed, or it becomes inconsistent, as one half of the network will see the first transaction completed and the other half will see the second transaction completed. Note that the CAP theorem has nothing to do with scalability; it applies to any situation where multiple nodes need to agree on a value, regardless of the amount of data that they are agreeing on. All existing decentralized systems have found some compromise between availability and consistency; sharding does not make anything fundamentally harder in this respect.
you already made a thread out of this just be patient, someone will come along shortly and support your feelings
Joseph Garcia
It depends on the problem you are trying to solve.
Satoshi (Minister you, Satoshi) solved an incredibly difficult problem in one of the most creative ways possible. It does what it's supposed to do, which is keeping a decentralized ledger up to date by the transformation of electrical power into number crunching, and rewarding those who keep the network healthy.
Ethereum is a decent proposition ( if dapps were real and semi-complex smart contracts more useful beyond ICO scams), but it's not doing what's supposed to do, so it's a stupid speculative thing.
I think the Bitcoin + Segwit + RSK + Lightning combo is an excellent candidate to be not Facebook, but the definitive Google of cryptocurrencies.
Leo King
They can, but right now BTC remaining king is the safest bet you can make. Do you think you are the first one to say that BTC's days will come to an end? People say this shit ever since its first competitor appeared.
Thing is that when it comes to economics people want stability and something that's already established. Any store, company or person will rather deal with something they can trust than something that's supposedly more efficient but not as trustable, hence why everyone trust middlemen with their money.
Brandon Roberts
That sound pretty interesting user. Could you explain it in simple terms so we all can understand the consequences of that theorem?
Logan Sanders
Look, mother fuckers, just buy LTC and BTC and hold for 20 years. Buy the $200-500 dips and keep holding.
It isn't rocket science. Stop gambling with shitcoins and invest in the first coins.
Ryder Myers
That's true if you already have decent capital. For the people who don't have much, holding BTC isn't as worth as trading shitcoins.
Xavier Hughes
bitcoin + segwit + rsk + lightning is the equivalent of duct taping a calculator on top of a typewriter and claim its just as good as any other modern computer
William Price
LTC is a retarded testnet. It's not an investment.
BTC/ETH will both make you money in the long-run but it's clear ETH atm is in a bubble.
Only brainlets would ever dream of touching the toxic shitcoins that are shilled on Veeky Forums hourly.
You retards seriously deserve to be poor.
Kayden Ramirez
>Ans >Went from $2 to $14 in three days >BTC >Went from $2000 to $2900 in a month Look, BTC is definitely better as store of value and long term investment, it's also much safer, but you can't deny that for risky short term gains shitcoins are better. You can literally make %500 in a week sometimes
Mason Cook
>Do you think you are the first one to say that BTC's days will come to an end? WHAT?! I never once said this. All I said is that ethereum is going to continue to improve.
BTC and ETH are tightly coupled as value stores as each entity will continue to use each other for arbitration and moving funds around during major events.
You're the retard suggesting one is going to "win". What you fail to realize is that BTC and ETH aren't competitors.
Please don't put any more words in my mouth, thanks.
Blake Wood
Yes, you can also 500% gains in an hour at the roulette table. You are gambling, not investing. What's worse is that the "house" in this case takes no risks. They literally print these tokens from thin air and sell them to wanna-be stock wizards, it's pathetic.
The smaller coins also have no liquidity. Sure, you can "triple" your $37.40 but put any real money into the thing and you'll NEVER cash out.
Aiden Jenkins
>I'TS NOT A COMMODITY, IT'S NOT A CURRENCY, IT WAS NEVER MEAN TO BE ANY OF THOSE THINGS.
WOW! NO SHIT GENIUS!
Its almost as if theres more to blockchain tech than just digital currency! Color me shocked!
Ethereum is a great project and will be revolutionary in how the world conducts business, but anybody who thought it would take Bitcoins place as a store of value or believed in "muh Flippening" is an absolute fucking idiot who doesnt understand blockchain tech and should not be investing into crypto at all.
If you cannot understand that Bitcoin is a digital currency while Ethereum is a new internet ecosystem that serve entirely different purposes and are not at all competing with each other as a "store of value", you should neck yourself because youre absolutely fucking retarded and cannot read into even the most basic of fundamentals.
>bitcoin + segwit + rsk + lightning is the equivalent of duct taping a calculator on top of a typewriter and claim its just as good as any other modern computer
It's much better for it to be modular like this. It improves the security of the whole network.
Jackson Price
SO looking at the comments here... Pretty much everyone is in agreement that ETH IS FUCKED
Leo Ross
gas for the gas god
Owen Johnson
>lets crash the entire market so that my super, secret special coin has a .001% chance to overtake BTC as a store of value
Idiots like you honestly need to be put down like fucking rabid dogs. You fucking retards are the absolute cancer of the cryptomarket.
Eli Smith
You know what pruning is right?
Sebastian Martin
Ethereum Dapps have never work since 2013, they are a complete failure. 4 years of existence and you only have a mediocre smart contract platform driven by ICO scams and the token itself is completely speculative, has ZERO, ZERO intrinsic value because it was never meant to be a store of value. Did I also mention that the network fees are already bigger than Bitcoin's? LOL, for much less value you are paying a lot more.
Bitcoin has been doing EXACTLY what is was meant to do from the beginning (2008) up to this day. It only needs to be faster and slightly more flexible because of massive adoption. It only needs small tweaks.
Charles Sanders
choke on my cock. it's not my fault you fear change. why aren't you in church right now?
Matthew Lewis
This desu.
Colton Flores
ok user i kinda agree with you and I think ethereum is in a giant bubble right now. Thing is why is it growing? the ICO'S?
Leo Price
Sure thing, Pajeet.
>invest in this one, single, cheap, unknown coin and you will be RICH beyond your wildest dreams!
Kill yourself retard. Your digital currency clone coin isnt going to do fucking shit. BTC has earned its spot over the years as top dog, and once August 1st passes, its going to cement it.
Leo Wright
Wat? I think you need to remember that to the 90% of Ethereum holders that probably believe they are holding something that is a store of value.
I don't even own a single piece of Ethereum because, like every other altcoin out there, it has ZERO value to me. I only play with it when I want to gain more Bitcoins.
Landon Wright
lol stay mad fundamentalistcuck
also, why are you mad? everyone, except newcomers are winning right now
Dominic Garcia
Vitalik on suicide watch. Sorry mongs, no flippening for you. Bow down to king Bitcoin before its too late.
Gavin Torres
I think that a lot of paid advertisements on major cryptocurrency news websites triggered the recent ICO rally. Also P&D, because Ethereum is an altcoin after all.
Andrew Lewis
Then 90% of Ethereum holders are fucking retards and are going to be severely disappointed.
I dont think we disagree on anything.
People who think Ethereum is going to replace Bitcoin as a store of value sound about as retarded as someone who claims Google is going to be replace gold as a store value. Yes, that how retarded these Flippening faggots sound.
Ian Kelly
The current network can't handle 1 popular ico while it's proposed value is offering a range of dapps running 24/7 worldwide (im going to ignore here how wasteful it is to do everyones business logic on chain) and the only way to solve it is chop it up into loosely related pieces again (why not just run an in house web/sql stack then). The project is literally retarded but hey, pump some more years and hundreds of millions into it to find that out if you want to.
Ian Johnson
Bitcoin is going to implode 01 Aug
Chase Morales
>TCP/IP + html + ipv4 + everything that makes the internet today is the equivalent of duct taping a calculator on top of a typewriter and claim its just as good as any other modern computer
Eli Thompson
Yeah everyone is winning, which is why idiots like you who want to crash and burn the entire market for the ultra small, unlikely chance of advancing your own personal agenda need to swing from a lamp post.
Michael Hernandez
Do you really think the price hasn't already or won't soon correct itself for that potential?
Charles Young
When it hits 10k then 100k then 1MM you'll regret that train of thought.
Kayden Cook
Another summerfag that still not up to date with events: August 1st is a non event because we are getting segwit before August 1st you dumb fuck.
Ian Reyes
>fears change >attacks what he doesn't understand >compares apples to oranges >FUD you are literally angry and adorable, user
Nathan Garcia
its not like you're bringing any counterpoints user i'm holding ethereum myself and the fact that 1 ICO makes the whole ethereum network go down for 24 hours worries me to say the least. Aren't you worried that they wanna build apps on that?
Angel Hernandez
This. Lightning network sounds good on the tin until you realise just how much collateral a hub needs to be able to work. It will either require (((fractional reserve lending))) to work or will result in massive centralisation and kyc
Jonathan Richardson
What change do you want to see in currency coins that BTC cannot already do or is in the process of fixing?
Faster tx times? Thats what Segwit/August 1st is for.
Leo Wright
worrying about august 1st is SO last month, you summerfags.
Jonathan Garcia
It's definately going to get dumped on. Needs to split to 2 chains.
Brayden Jackson
This.
As a side note, I currently hold 67 ETH and 0 BTC.
However, I bought into ETH realistically knowing it is not and never will be a currency coin meant to replace BTC as a store of value, even at the peak of all the "Flippening" hype and bullshit.
Jaxson Carter
I hold 15 and have a miner that mines ethereum. I'm still worried by what I'm seeing.
Gavin Watson
dude, I think you have me mixed up with other people/arguments in this thread. I'm not against BTC you fucking dipshit.
My post here pretty much summarizes my thoughts about BTC and ETH: tl;dr I'm for both!
Eli James
YOU GUYS NEED TO GET SOME FUCKING PERSPECTIVE!
of course did the ethereum network struggle with a volume as high as this in a short timeframe. BTC never got such a rough treatment like ethereum. Overall volume is not the same as volume in a spike.
1. Bancor Protocol with $152,000,000. Countless people participated in mere hours. Not even our Banking system get's this much struggle. of course this resulted in a DDOS.
Benjamin Wright
You guys fucking lied to me! I bought in $400/ because you said it was going to moon! My wallet is fucking devastated. Holy fuck I can't believe I trusted you enough to waste $10k
Isaac Martin
>math PhD, spells it Etherium after "two weeks reading up"
kek hard
Leo Gray
this. buy RLC.
Julian Rogers
you cannot reason with buttcoiners
they will argue that bitcoin could easily transfer 150 million dollars in under 3 hours just fine, even though the entire chain, which already is clogged up, would most likely go down for weeks
Anthony Bennett
>you cannot reason with buttcoiners
this. they're equivalent to trump supporters and religious extremists. There's no logic to their arguments, it's 100% emotion and fear
Carson Watson
trump > hillary, any day tho
Hunter Collins
>m-muh b-bitcoin maximilasiststs
Ethan Robinson
...
Robert Hernandez
>not a store of value
Is this how BTC tries to cope with being a literal subset of ETH?
Liam Watson
LOOOL
Anthony Gomez
they're both utter shit so if you unironically support any of them you're a sheep and a fuckwit
Nathan Cooper
i dont care about either tbqh, its more about keeping the democrats out
Ethan King
>Do5e+teh >Doge + ETH
what did he mean by this?
Caleb Collins
The price of eth could split in half and id still be in the green.
Carter Perez
NEO IS THE ONE
>wake up neo
Wyatt Roberts
Stop spreading this bullshit. The eth blockchain is nowhere near 80GB. I have the whole thing downloaded and it's only 25GB.
Adrian Baker
> libtards and (((jews))) > muh guns!
Incel edge lord.
Ayden Lee
Stop spreading this bullshit. The eth blockchain is nowhere. user above just told you.
Jaxson Lewis
>m-muh m-myspace
Joshua Collins
Bernie Sanders is enjoying that new house bought and paid for by your kind donations! Good job woke Bernout.
Jacob Rodriguez
What are you talking about? Which user? The ethereum blockchain is 25GB and that's a fact. The same faggot keeps posting on here that it's 80GB bigger than bitcoin's.
James Stewart
Found the woman.
Landon Reyes
What about Ethereum Classic?
Levi Martinez
calm your flappy vagina, u dumb whore
i dont care about guns, i just dont want any leader that acknowledges transgenders as mentally stable people
infact, i think its rude to not offer help to them
