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A comment on Bitcoin Surges Past $7,000 to Extend Record Rally. Parent comment

Re:Bitcoin Surges Past $7,000 to Extend Record Rally by randallsquared on Thursday November 02, 2017 @09:27AM (#15610187)
As someone who has no stake in any of these, it seems to me that Ethereum has a big PR problem no matter how technically superior it is: it's inextricably tied to the story about the DAO, where those who played the game by the rules had their Ethereum redistributed by the developers because said developers didn't like the outcome. (I know that this isn't a neutral phrasing, but it's the perception I'm talking about...). Once it's shown that some group is willing and able to change the rules to avoid losing, trusting that they won't do it again seems naive.
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Re:Bitcoin Surges Past $7,000 to Extend Record Rally by tfha on Thursday November 02, 2017 @10:03AM (#15610442)
People who believe that ethereum is technically superior have not studied cryptocurrencies in depth. Ethereum made a lot of reckless design decisions, trading long term stability and security for advantages that only exist over bitcoin in the short term. Their short block time is a sloppy choice. Their focus on gpu mining is a boneheaded mistake. Their scripting system is embarrassing. Proof of stake is nonviable. Multiple clients invites large scale network forks like the spurious dragon update disaster. Their code is garbage and won't scale.
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Re:Bitcoin Surges Past $7,000 to Extend Record Rally by diggan on Thursday November 02, 2017 @12:50PM (#15612056)
Thanks for leaving your opinion but I think I'm not alone when I say that I prefer more elaborate feedback. You're saying that a lot of things are bad, but not really why. "Sloppy choice", "boneheaded mistake", "emberrassing", "nonviable", "code is garbage and won't scale" but neither of these things have any reasoning behind them (maybe you do, but you didn't take the time to actually write it down) which makes your comment relatively useless.
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Re:Bitcoin Surges Past $7,000 to Extend Record Rally by ChrisClark on Thursday November 02, 2017 @11:06AM (#15611051)
What do you think is better than Ethereum then? We already know by now Bitcoin is garbage. They have refused to do any innovation out of pride, and instead of just a tiny bit of compromise the devs pander to their ego and attack others instead. Directly causing this upcoming 51% attack on the chain (2X).

It is useless as a global currency now, and any more complicated smart contracts built on top of it need trust in a third party, eventually, if it's ever built.

All it has left for it is brand recognition and large transactions as a settlement network.

The current price increase is obviously because people need to be in Bitcoin before this upcoming attack. Because if there is a back and forth fight over the hash power, you won't know who is the winner immediately.

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Re:Bitcoin Surges Past $7,000 to Extend Record Rally by Geee on Friday November 03, 2017 @01:56AM (#15616947)
Take a look at Cardano https://www.cardanohub.org/en/home/

Cardano was founded by the same people who originally founded Ethereum, and they also maintain Ethereum Classic. Their team has leading computer scientists and cryptographers on board, such as Phil Wadler. It addresses all the shortcomings of Bitcoin and Ethereum and is based on scientific research instead of hacking.

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Re:Bitcoin Surges Past $7,000 to Extend Record Rally by bpicolo on Thursday November 02, 2017 @10:08AM (#15610485)
> Their focus on gpu mining is a boneheaded mistake

Better to leave random warehouses in China to control the entire pool? How does supporting asics matter in the least other than making it less accessible?

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Re:Bitcoin Surges Past $7,000 to Extend Record Rally by russelldc on Thursday November 02, 2017 @11:41AM (#15611390)
If any government wanted to take down a CPU or GPU based cryptocurrency, they could accomplish a 51% attack in no time. Gathering or manufacturing ASICs would be a longer, harder, more obvious process.
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Re:Bitcoin Surges Past $7,000 to Extend Record Rally by bpicolo on Thursday November 02, 2017 @12:05PM (#15611602)
I'm not convinced that's true. The government can get ASICs produced more easily than they can produce quality GPUs. GPU procurement at the scale necessary seems like it would be very hard.
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Re:Bitcoin Surges Past $7,000 to Extend Record Rally by kharms on Thursday November 02, 2017 @01:25PM (#15612358)
A government would need to produce ASICs, but would only need to commandeer GPUs. There are massive GPU farms used by various industries, including ones available for rent (aws, etc.)
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Re:Bitcoin Surges Past $7,000 to Extend Record Rally by ryanmarsh on Thursday November 02, 2017 @11:49AM (#15611454)
Gathering or manufacturing ASICs would be a longer, harder, more obvious process.

In the short term, true. The same could have been said of integrated circuits at one point. ASIC manufacturing will become cheaper and easier.

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Re:Bitcoin Surges Past $7,000 to Extend Record Rally by dcdanko on Thursday November 02, 2017 @10:23AM (#15610630)
Strongly agree. POS is just a dream (until someone proves me wrong :P)
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Re:Bitcoin Surges Past $7,000 to Extend Record Rally by Geee on Thursday November 02, 2017 @10:30AM (#15610695)
You have been proved wrong :) https://www.cardanohub.org/en/ouroboros/
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Re:Bitcoin Surges Past $7,000 to Extend Record Rally by dcdanko on Thursday November 02, 2017 @11:17AM (#15611167)
This looks pretty cool!
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Re:Bitcoin Surges Past $7,000 to Extend Record Rally by googletazer on Thursday November 02, 2017 @01:07PM (#15612214)
For the lack of a better word, you seem salty. You make a lot of allegations that arent supported by any evidence. Everybody can design a perfect system, few can make the tradeoffs to build something that works.
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