Reality check on ethereum

The Plaza
#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.

#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?

#24

I am skeptical.

#25

How secure/reliable is the Ethereum Wallet?

#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?

#27

So they can’t sell easily, also a way to increase price temporarily :slight_smile:

#28

Yet, another video on ethereum, rather interesting and recent one:

2 Likes
#29

Latest presentation of Vitalik on Ethereum:

Ethereum: The Road Ahead

1 Like
#30

The number/type of issues is very concerning: https://github.com/ethereum/mist/issues

Anyone ever exposed?

1 Like
#31

How does peershares compare?

#32

I agree

1 Like
#33

I think it’s too early to tell that and a lot of people see a big potential (that yet needs to unfold).
Just imagine Ethereum goes PoS, will be easily sustainable and one of the important infrastructure service providers of the future.
How would you value such a corporation?
Have you recognized what happens with shares of infrasctructure services on blockchain?
If not, have a look at, say, Emercoin…

2 Likes
#34

In this disruptive crypto world you cant be 100% sure of anything :stuck_out_tongue:

#35
#36

Looking it from the cost vs benefits angle is very pertinent.
Now, I beg her to apply it impartially to NuBits or Bitcoin

#37

Indeed.

I want to read a comprehensive argument for why Ethereum’s future isn’t bright. Can someone point me in the right direction, or even better write one? Other than the current subpar user experience, why may it not be sustainable or useful?

#38

What about the skyrocketing size of the blockchain?

#39

Oh right. How large is it by now? What do Ethereum supporters say about the blockchain size issue?

#40

I don’t follow Ethereum enough to know these answers. Maybe someone else does.

#41

Blockchain size and instability of fees. I mean, it’s a cool idea to do network computations. However, the gas fees have to be denominated in eth, which means a link to a fixed $$ amount requires pretty complex stability mechanisms.

The size issue is also pretty important. It’s like 7 GB, but just think about it. If you take 1 exponential growth (regular btc txns) and tack on another exponential growth (computation) you’ll get some crazy growth. One of the two is going to suffer.

As a side note, that’s what I expect to happen with bkc. The blockchain will start growing and to limit it we’ll restrict bkc motion cause who uses bkc as currency anyway?

2 Likes