Reality check on ethereum

dysconnect 2016-03-01 15:50:17 UTC #6

It can hold a number of niche applications, and then be the largest one to accommodate all of them. One can say it’s a solution begging for a problem but there’s still potential. The market cap 500 million though is probably counting chickens before they hatch.

crypto_coiner 2016-03-02 08:46:07 UTC #7

Financisto 2016-03-02 14:41:57 UTC #8

Talking about ETH, I’ve been thinking lately:

Is it just me or anyone else think this insane bullish movement on Ethereum resembles Bitcoin in 2013?

I guess it’s even drying some liquidity from other altcoins.

AND

Shouldn’t people participating in this frenzy be “guaranteeing” some profits in Nubits instead of Bitcoin? Wouldn’t that be more reasonable?

Maybe people try to “guarantee” their profits exchanging ETH --> BTC, claiming that bitcoin’s network is more resilent and secure than Nubits.

But is choosing network security and resilience (bitcoin) over stability (nubits) a more rational option?

edit: I just forgot to mention that even Ethereum developers couldn’t manage to avoid BTC’s volatility and “lost” some millions (in USD value) after presale ended. They should have bought/accepted NBT too!

Disclaimer: I don’t participate in that ETH frenzy by now, it would be too much for my psyche…

crypto_coiner 2016-03-02 22:14:57 UTC #9

good idea - can we work with nbt/eth pairs instead of systematically nbt/btc ones?

And yes, that resembles 2013 pump. Where is the next big gox?

Nagalim 2016-03-02 23:06:47 UTC #10

Imo ppc/nbt is next once we have a ppc flot reserve.

tomjoad 2016-03-02 23:58:16 UTC #11

I spoke with the Augur team some number of months ago. They indicated they would add NuBits once Bitcoin sidechains are completed, which may or may not occur. However, there’s no question NBT are the perfect cryptocurrency for Augur, and Augur has massive potential.

State of NuBits - what are the next steps?

Augur Prediction Market Enters Beta

crypto_coiner 2016-03-03 00:30:08 UTC #12

crypto_coiner 2016-03-03 02:27:42 UTC #13

Dhume 2016-03-03 02:56:00 UTC #14

Wow! this would be amazing. Augur is well positioned to become one of the first very successful Ethereum Dapps. They raised over 5.3 million USD in their IPO. If they would start using Nubits for even a small portion of their business we would see a huge increase in Nubits demand.

Is there anything we can do to make this happen?

tomjoad 2016-03-03 03:43:13 UTC #15

@JordanLee and the developers would have a better understanding of the technical requirements, but I believe we need to wait for Bitcoin’s development team to complete their implementation of sidechains. This is barring a scenario where we pioneered them ourselves.

crypto_coiner 2016-03-03 03:44:34 UTC #16

Wouldn’t they prefer their SDR-pegged DAI?

Dhume 2016-03-03 04:02:35 UTC #17

I’m not sure I follow why would we be depended on the implementation of sidechains?

Dhume 2016-03-03 04:05:11 UTC #18

DAI isnt tried and proven like Nubits

Also I feel the DAI model from what i’ve seen about it will be very different from what we are.

crypto_coiner 2016-03-03 08:33:32 UTC #19

ETHEREUM SAFE OR NOT TO USE?https://www.reddit.com/r/ethereum/comments/48oorr/is_it_safe_to_use_the_kraken_eth_export_tool_for/

crypto_coiner 2016-03-03 08:36:46 UTC #20

Cybnate 2016-03-03 08:44:18 UTC #21

I think the main reason is that there would be very high transaction rates. The NuBits blockchain (or any other blockchain known) is not efficient enough for that. I think it is also the biggest challenge for B&C.
To make NuBits a real transactional currency which can compete with fiat currency and related payment systems, sidechains or similar solutions needs to be implemented first.

Halcyonic 2016-03-03 09:21:14 UTC #23

Could a “NuRelay” similar to BTCrelay be an alternative to Bitcoin sidechains? It allows Ethereum contracts to be run based on activity from the Bitcoin blockchain.

The Dogecoin community is working on a version, Ethereum’s founder (Vitalik Buterin) is contributing his efforts. “…the ultimate goal being to create an ethereum based token that keeps value at 1:1 for a dogecoin and can be used to run smart contracts.”

Is an Ethereum stable-token backed by Nubits possible/desirable?

cryptog 2016-03-05 05:46:17 UTC #24

I am skeptical.

crypto_coiner 2016-03-14 16:07:39 UTC #25

How secure/reliable is the Ethereum Wallet?

crypto_coiner 2016-03-15 05:46:22 UTC #26

It seems like many ethereum users cannot retrieve their funds with an atomic self-contained wallet -
They have to use an online wallet to retrieve their funds – To me, that s a huge red flag
For example: https://www.reddit.com/r/ethereum/comments/4ad01u/trying_to_open_a_presale_wallet/

Anyone can confirm?