Search results

What happens to the security? Nothing happens. Miners still mine; their hardware doesn't poof or stop working. New miners buy ASICs from a different manufacturer. It's not like Bitmain is the only one. The chips are fabricated at TSMC or Samsung, but designed and assembled by other...

Bitcoin requiring ASICs to mine is actually a security benefit. It means that a botnet can't hijack the network by taking over everybody's GPUs and since the ASIC chips are only produceable in a few factories in the world by public companies, it prevents nation states from secretly building the...

Well 'the vision' seems to not have accounted for ETH appreciation then if they were relying on that amount being obtainable to average folk. 'Eventually' pools won't be necessary? Another 'eventually' to wait for. Casper will have taken 4 years (assuming no further delays) since you told me...

You can solo stake with 32 ETH if you have that much, but since validators are selected at random, this is akin to mining BTC without a pool-- so the chance of you being selected as a validator is extremely low. Hence why mining pools exist in the first place: so miners could get tiny fractions...

The only way to be profitable with PoW 'is at scale'? People on this very forum are mining ETH right now using their GPUs. You can still mine bitcoin with an ASIC if you want to pay 2 grand for it or whatever and put up with the noise. The limiting factor is the cost of electricity, not the...

Lolz. Just found this. Good thing my position in the PoS coin I own (Radix) is small I guess. I'm rooting for them though

Yes, they are consensus mechanisms, and some consensus mechanisms are more decentralized than others. Rock paper scissors is also a 'consensus mechanism'. The question is how many parties are involved and how much influence they have. PoS has fewer participants and has more concentration of...

sometimes it's just rank incompetence, not a deliberate scam

This is one reason why people say that Proof of Stake is more centralized than Proof of Work. Be careful with who you entrust to stake your ETH for you.

A trillion dollar spreadsheet controlled by nobody and uncontrollable by anybody

Global video game use is roughly as much energy use as Bitcoin, (which only very recently reached parity) according to some cursory googling I just did. This is also an activity that is growing rapidly. Video games are merely a source of amusement and therefore just a hobby of little...

Lol. "The study's authors, for the first time, quantify the share of Bitcoin's emissions attributable to Tesla" -- they literally just multiplied an estimate of Bitcoin's carbon emissions (with ZERO discussion of energy mix which is the single most important factor) with the percentage of coins...

Dunno what 'faulty armor farming' is but in regards to Bitcoin mining, dropped hash rate only causes a very temporary drop in the rate of produced blocks because the difficulty of the 'puzzle' (the media likes this word) is adjusted every 2 weeks in order to keep the block rate at a 10 minute...

Chia is a scam that would pollute more than Bitcoin if it ever reached Bitcoin's adoption level. Bitcoin's PoW is mostly using stranded/waste energy from renewable sources in the first place, so the entire premise behind Chia being 'greener than Bitcoin' is nonsense. Chia does a ton of disk...

Google telling me Anarchy Online had instances first, disregarding some ancient 90s game mentions. But anyway, try not to get too emotionally attached to your investment

EQ had instancing in 2003 with LDoN, including raids. Somehow I doubt EQ was the first. Either way I hate instancing.

Blizzard's entire MO was to copy and polish. They did fairly well. Most ETH devs copy from each other as well. That's how software is. (any intellectual property really) Blockchains and DLTs have to be open source by necessity so that means good ideas will spread very quickly. If Sovryn...

https://www.sovryn.app/ Sovyrn runs on Rootstock, which has been around since 2017. Rootstock is a sidechain smart contracts platform that is pegged to BTC and merge mined with BTC, so it uses BTC as its native coin and Bitcoin's proof of work for security. In this way it also funds Bitcoin...

ETH fees are low in recent days relative to itself. A previous post was comparing total USD value network fees of ETH vs BTC. Also, compare even today's Uniswap fees to centralized exchanges. My point was that the fees people are paying for Ethereum contracts relative to bitcoin don't mean...

Funny how Ethereum advocates went from 'BTC fees are too high, use ETH instead' to 'BTC fees are too low, it's doomed.' ETH fees are high right now because of the on-chain computational cost of their current DeFi implementations. It won't always be this way and if ETH fails to reduce this, it...

Incidentally Bitcoin's mempool cleared for the first time in months on June 2nd and has been clearing periodically since. (meaning all transactions were processed, even the cheapest ones) Bitcoin fees are still very low when the bulls aren't stampeding. A nice thing about Lightning is that...

It was inevitable that large stakeholders would start to ensure that bitcoin mining wouldn't be a source of concern for them after they bought multi-billions worth of the coin. They just saw bitcoin drop 50% from a recent ATH and most of that was in a week, over carbon pollution FUD. This IS...

Nah. They just want to know more accurately how much of the hash rate is mined with renewables, because right now it's hard to narrow that down. This is an anti-FUD campaign. Also this will speed up the transition away from fossil fuel powered hash rate. This is positive. China banning...

Dogecoin doesn't even have Segwit, which was a 2017 addition to BTC. Dogecoin won't have Taproot which is weeks away. These are not trivial additions. Bitcoin has also had a lot of upgrades to the core software to make it more robust and to sync the blockchain faster. Bitcoin core has a lot...

Dogecoin is in the tens of billions. Current valuations don't mean very much. People are frantically searching for any place to put money into right now. DeFi is the first use of Ethereum that didn't seem like a complete joke to me. It's legit and works, but is severely limited by Ethereum's...

What are your CryptoKitties worth now?

Let me know how well that value holds over time

Bought some ETH and USDC last night to use Uniswap to buy an Ethereum competitor (Radix). Ironic. Metamask and Uniswap are kinda cool though. ETH's primary use case is do-it-yourself shitcoins and it's getting pretty streamlined. ETH needs 2.0 to work soon or they're doomed though

Tether FUD is so stupid. As if Tether was the only stablecoin. As if Tether was run by a bunch of nobodies. Tether is less than 4% the global crypto market cap. It was originally primarily used to sell bitcoin for it so you could sell it without touching USD which would trigger a tax event...

Well Flobee just linked some well written criticism for you, but nobody wants to read. They just want to watch candles go up and down. Bitmex research also puts out some of the highest quality analysis in this space and is fairly agnostic: The primary criticism of Ethereum is that it's...

Arguing with you is a waste of time, but I'll bite once more. Bitcoin was worth about a few cents at the time, before anybody ever considered it a real investment, and the userbase was a tiny fraction of ETH's when it forked. This was the very early days when the basic core logic was still...

Imagine that Satoshi was still around, still in charge of Bitcoin, and decided to fork the network to reverse a transaction because his friends had a lot of their money stolen because his friends didn't code something correctly. Imagine if Satoshi also asks that 'people stop trading' to try to...

Btw https://www.coindesk.com/bitmain-antminer-e9-asic-ethereum-mining

2017 was a huge bull cycle. June 2017 was the middle of that cycle and major alt season. Alts were up massively across the board then, not just ETH. That's why the alts I bought then were such bad trades, even while the coins were good. (Sia was one; although I bought most before June) What...

Actually I sold the remainder of my ETH in June 2017, near the ATH, higher than the chart there. Selling my ETH then was the best crypto to crypto trade I ever did. Unfortunately the 'flippening' nonsense at the time combined with the segwit controversy caused me a lot of concern that the...

I was going to stay out of this thread as I somehow seem to generate a lot of hostility here for whatever reason, but since you pinged me: You guys need to zoom out more often; and look at pairs that aren't USD. I've already been through the ETH drama before. (and no, I still don't regret...

hmm, you don't sound like much of a comrade, Araysar :(

China's morality and human rights abuses are irrelevant when discussing their economic strength. I mostly pointed out some things that they are doing as criticism of our leaders for not doing them, not so much to extol China. Europe also invests in their citizens a lot better than we do...

China has as many natural resources as us, 4 times the population, has much newer infrastructure and is increasing investments on its people (e.g. higher education, healthcare) instead of cutting them like we are. If you think their GDP is number games then you're as foolish as the rich cunts...

It's hubris to assume the US Dollar will remain the world reserve currency when China will surpass our GDP in half a decade. Particularly when the USG likes to sanction everybody and our political leadership is so unstable. Overheating the money printers is the fastest way to unseat the USD...