/biz/ - Business & Finance

[Anonymous No.24154053]

THERE'S LITERALLY AN ENTIRE PARALLEL BANKING SYSTEM BEING BUILT ON ETHEREUM. HOW THE FUCK ARE YOU NOT ALL IN ON THIS? ARE YOU FUCKING RETARDED?

[Anonymous No.24154093]

>>24154053

[Anonymous No.24154105]

>>24154053
>2.0 never
>gas fees increasing always

[Anonymous No.24154116]

>>24154053
That's the thing, anon, I'm already all in on ETH.

[Anonymous No.24154125]

>>24154053
OP is correct.

[Anonymous No.24154126]

>>24154053
IT CAN'T FUCKING SCALE. HOW MANY TIMES DO WE HAVE TO SAY THIS?!?!

ETH is pure spaghetti code. ETH was without a doubt a great idea; I will not deny that at all. However, most people in crypto don't have the comprehension or knowledge to be able and look at the code-base and identify flaws that could be catastrophic, both in terms of economic, security, and overall functioning in cost signals.

Vitalik is smart. However, he's the most retarded smart person in all of crypto. He's a fucking child who doesn't own up to his inability to produce a creation and has longevity. Him and his cronies wrote shitty-ass code. It can't scale. The only way it can scale is constant upgrades each time they feel things are getting congested. This is where the problem lies. It is impossible for ETH to implement a scaling solution to where it doesn't need upgrades anymore. For ETH to work, it will need constant upgrades of ETH 2.0, 3.0, 4.0, so on and so forth for an indefinite amount of time - just kicking the can down the road. Off-chain scaling won't work either because ETH's security is already shit on a stick. Making something more complicated that is already a piece of shit is 100% pointless. People can never steadily develop something on ETH because with each 'scaling upgrade', those who are creating on ETH will have to pivot each time to ensure their product is compatible to work on ETH. To sum it up, each time ETH decides to upgrade to scale, it just gets worse.

For ETH to work to the level needed, the amount of ETH in ever single wallet needs to be known after each transaction. Since ETH cannot implement SPV, it's impossible for ETH to scale because it does not have the capabilities to know the exact amount of ETH in every single ETH wallet after each transaction at a massive scale.

The only way to permanently fix ETH would be to roll back the chain to the beginning almost. Vitalik is just your average Russian retard who can't produce anything of value.

[Anonymous No.24154135]

>>24154053
but I am

[Anonymous No.24154138]

Sold mine because I'm a pump chasing retard. I'll be back soon bby

[Anonymous No.24154150]

THE NORMALOIDS AND BANKS WILL BUY - BUY ETH OP IS CORRECT.

[Anonymous No.24154156]

Because I'm all in in that banking system thats being built on ethereum instead.

[Anonymous No.24154163]

>>24154053
>LITERALLY AN ENTIRE PARALLEL BANKING SYSTEM BEING BUILT ON ETHEREUM.
powered by [redacted]

[Anonymous No.24154164]

>>24154126
Kill yourself faggot

[Anonymous No.24154168]

>>24154126

Lol fuck off with the copypasta. Last line is debunked as Ethereum's MCAP is $65bn and I can't even estimate the monolithic mcap of all the alts built ontop of ETH. That's value

[Anonymous No.24154175]

i never go all in

[Anonymous No.24154189]

Because bitcoin already accomplished that

[Anonymous No.24154202]

>>24154053
IT CAN'T FUCKING SCALE

[Anonymous No.24154240]

>>24154053
this, even if its 5 years out who cares /biz/ eth WILL be $2k+

[Anonymous No.24154237]

>>24154053
>muh purullell baighnkin systum
>muh moni legos

imagine thinking this bloated little playpen matters to anyone outside retards on /biz/

[Anonymous No.24154317]

>>24154093
>>24154105
>>24154126
This

ETH is literally incorrectly assembled spaghetti code that doesn't follow the philosophy of code is law. Newfags should look into the origin of why
there are two "ETH's" Ethereum and Etherum classic. It's highly susceptible to hacks and exploits. A bunch of major "finance" projects built on ETH have been exploited by liquidity exploits and other hacks and loopholes.. Too many to count.

Sorry newfags but ETH isn't what you think it is. 99% of projects and tokens on ETH are either spam meme tokens, scams, dead projects or rug pull projects created by pajeets as platform to scam.

[Anonymous No.24154358]

>>24154053
>infinite supply

HOW ARE YO-

[Anonymous No.24154382]

>>24154317
>It's highly susceptible to hacks and exploits
I'm sorry to tell you this, but you are retarded.

[Anonymous No.24154397]

>>24154317
HEY NEWFAGS THIS GUY LIKES SUCKING DICKS AND PUTTING THEM UP HIS ANUS THEN SUCKING ON THEM AGAIN YOU DO NOT WANT TO LISTEN TO A MAN LIKE THAT!

[Anonymous No.24154421]

>>24154397
>>24154382
Nice rebuttal. Seethe harder pajeet

[Anonymous No.24154465]

>>24154421
ASS THEN MOUTH THEN ASS THEN MOUTH
JUST LISTEN TO VITALIK INTERVIEW WITH COINBASE, ONLY TWO DAYS OLD. DISPELLS THE PASTA AND YOU WON'T NEED TO SIDE WITH A GUY WHO ENJOYS PENISES GOING INTO AND COMING OUT OF EACH OF HIS ORIFIES

[Anonymous No.24154475]

IT CAN'T FUCKING SCALE. HOW MANY TIMES DO WE HAVE TO SAY THIS?!?!

ETH is pure spaghetti code. ETH was without a doubt a great idea; I will not deny that at all. However, most people in crypto don't have the comprehension or knowledge to be able and look at the code-base and identify flaws that could be catastrophic, both in terms of economic, security, and overall functioning in cost signals.

Vitalik is smart. However, he's the most retarded smart person in all of crypto. He's a fucking child who doesn't own up to his inability to produce a creation and has longevity. Him and his cronies wrote shitty-ass code. It can't scale. The only way it can scale is constant upgrades each time they feel things are getting congested. This is where the problem lies. It is impossible for ETH to implement a scaling solution to where it doesn't need upgrades anymore. For ETH to work, it will need constant upgrades of ETH 2.0, 3.0, 4.0, so on and so forth for an indefinite amount of time - just kicking the can down the road. Off-chain scaling won't work either because ETH's security is already shit on a stick. Making something more complicated that is already a piece of shit is 100% pointless. People can never steadily develop something on ETH because with each 'scaling upgrade', those who are creating on ETH will have to pivot each time to ensure their product is compatible to work on ETH. To sum it up, each time ETH decides to upgrade to scale, it just gets worse.

For ETH to work to the level needed, the amount of ETH in ever single wallet needs to be known after each transaction. Since ETH cannot implement SPV, it's impossible for ETH to scale because it does not have the capabilities to know the exact amount of ETH in every single ETH wallet after each transaction at a massive scale.

The only way to permanently fix ETH would be to roll back the chain to the beginning almost. Vitalik is just your average Russian retard who can't produce anything of value.

[Anonymous No.24154476]

>>24154382
The $55M Hack That Almost Brought Ethereum Down

https://www.coindesk.com/55m-hack-ethereum-down

Security Flaw in Balancer Pools Leads to Massive $450K Crypto Hack

https://www.newsbtc.com/news/company/hackers-steal-450k-crypto-tokens-from-balancer/

Ethereum Smart Contracts Vulnerable to Hacks: $4 Million in Ether at Risk

https://www.investopedia.com/news/ethereum-smart-contracts-vulnerable-hacks-4-million-ether-risk/

A hacker stole $31M of Ether — how it happened, and what it means for Ethereum

https://www.freecodecamp.org/news/a-hacker-stole-31m-of-ether-how-it-happened-and-what-it-means-for-ethereum-9e5dc29e33ce/

[Anonymous No.24154501]

>>24154397
IT CAN'T FUCKING SCALE. HOW MANY TIMES DO WE HAVE TO SAY THIS?!?!

ETH is pure spaghetti code. ETH was without a doubt a great idea; I will not deny that at all. However, most people in crypto don't have the comprehension or knowledge to be able and look at the code-base and identify flaws that could be catastrophic, both in terms of economic, security, and overall functioning in cost signals.

Vitalik is smart. However, he's the most retarded smart person in all of crypto. He's a fucking child who doesn't own up to his inability to produce a creation and has longevity. Him and his cronies wrote shitty-ass code. It can't scale. The only way it can scale is constant upgrades each time they feel things are getting congested. This is where the problem lies. It is impossible for ETH to implement a scaling solution to where it doesn't need upgrades anymore. For ETH to work, it will need constant upgrades of ETH 2.0, 3.0, 4.0, so on and so forth for an indefinite amount of time - just kicking the can down the road. Off-chain scaling won't work either because ETH's security is already shit on a stick. Making something more complicated that is already a piece of shit is 100% pointless. People can never steadily develop something on ETH because with each 'scaling upgrade', those who are creating on ETH will have to pivot each time to ensure their product is compatible to work on ETH. To sum it up, each time ETH decides to upgrade to scale, it just gets worse.

For ETH to work to the level needed, the amount of ETH in ever single wallet needs to be known after each transaction. Since ETH cannot implement SPV, it's impossible for ETH to scale because it does not have the capabilities to know the exact amount of ETH in every single ETH wallet after each transaction at a massive scale.

The only way to permanently fix ETH would be to roll back the chain to the beginning almost. Vitalik is just your average Russian retard who can't produce anything of value.

[Anonymous No.24154509]

>>24154053
Quorum is not Ethereum.
It's just a copy of the code.

[Anonymous No.24154519]

>>24154421
Random shitters writing vulnerable smart contracts isn't Ethereum's fault, you retard. People write terrible code in every programming language, it's not the fault of the programming language that people are retarded.

[Anonymous No.24154533]

>>24154421
HAHAHAHAHAH imagine missing out on all the gains just because you keep hanging on to XRP and dont spend 30 mins researching ETH. What a fucking loser you must be in real life as well HAHAHAHAHAHAHAHA

[Anonymous No.24154546]

>>24154519
>it's not the fault of the programming language that people are retarded.
Maybe if it was written in something like HASKELL shit like this wouldn't happen every other week

[Anonymous No.24154555]

>>24154476
None of those are vulnerabilities with ethereum, faggot

[Anonymous No.24154605]

actually everything including shitcoins are all running on the bitcoin servers thats why its the largest network.

[Anonymous No.24154618]

>>24154053
>tfw only one ETH
pls hold me, frens
pls will one of my shitcoins take off so I can reinvest in more ETH

[Anonymous No.24154619]

>>24154053
two men went to eth in a ford fiesta, one came home with BoringDAO's, the other with carbonara

[Anonymous No.24154634]

>>24154053
Man ETH pumps are comfy
every 'eth killer' shitcoin shill gets so upset, it's great

[Anonymous No.24154642]

>shilling shiterium in 2020
no thanks

[Anon No.24154711]

>>24154126
AGAIN THIS NIGGER WITH THE SAME COPY PASTA... lel

[Anonymous No.24154716]

>>24154476
only dao is actual eth's fault and it was fixed pretty much right away

[Anonymous No.24154728]

>>24154053
t. bagholding retard

[Anonymous No.24154825]

>>24154105
Like normies know that they need to save some money to send a transaction that costs 7-$80. Haha Ethereum .

[Anonymous No.24155003]

>>24154825
Rollups alone will slash prices to below 5c on even the most complex transactions

[Anonymous No.24155302]

>>24154126
You need another hobby faggot.

[Anonymous No.24155385]

>>24154053
literally suck dick

[Anonymous No.24155417]

vitalik is soviet agent to derail bitcoin

[Anonymous No.24155423]

>>24154053
>tfw 3710 eth

[Anonymous No.24155433]

>>24154634
exactly, pajeets coping their $10 investment in an "eth killer" wont 1000x

[Anonymous No.24155434]

>>24154093
>>24154126
>>24154317
look at the cope

[Anonymous No.24155472]

>>24154237
>imagine thinking this bloated little playpen matters to anyone outside retards on /biz/
>t.
https://cointelegraph.com/news/ethereum-set-to-become-first-blockchain-to-settle-1-trillion-in-one-year

[Anonymous No.24155506]

>>24154126
lmao kys moron

[Anonymous No.24155608]

>>24155423
big if true

[Anonymous No.24155682]

>>24154053
What will happen to the price of ETH when the bulk of economic activity is occurring on L2 solutions?

[Anonymous No.24155715]

guys, for real
when is link going to get a legit pump
how badly did I fuck up being all in link and missing these btc and eth gains

[Anonymous No.24155796]

>>24155682
midwit take, rollups multiply base layer scalability because they store data on ethereum.
It's true that in the initial period rollup adoption is going to drop fees to near zero, however, that's going to allow exponential adoption up to >100M/tx day. At some point individual fees (in rollups) are going to start to rise to eg. 1/10 of current ones, but with 100x more transactions that means total fees rise 10x.

This principle works as long as there's enough adoption to congest the chain, but as ethereum is supposed to be a truly global platform that means billions of daily transactions are needed.
The next two steps are: rollups (100x scalability), sharding phase1 (64x) giving a total of 6400x.
Subsequent increases are going to happen by increasing the number of shards once fees become unbearable, at which point congestion should be a constant occurrence, generating high fees (=income for stakers) for the foreseeable future.

[Anonymous No.24155967]

>>24154138
Priced out, I sold 2 Eth and I bought back in at a loss from FOMO 2 days ago

[Anonymous No.24155983]

>>24155715
imagine still being in link

[Anonymous No.24155991]

>>24155423
Super Based if true, congrats fren

[Anonymous No.24155997]

>>24155423
I kneel

[Anonymous No.24156061]

>>24154093
kek

[Anonymous No.24156114]

>>24154317
WoRld cOmPuTEr to world scam engine

[Anonymous No.24156171]

Mfw only 1270 eth

[Anonymous No.24156817]

>>24155796
>At some point individual fees (in rollups) are going to start to rise to eg. 1/10 of current ones, but with 100x more transactions that means total fees rise 10x.
How are you arriving at these numbers? For what use case are these numbers true?

[Anonymous No.24156884]

>>24156817
Educated guess, all of them
https://loopring.io - dex on zkrollup (admittedly not very popular)
https://zksync.io - token transfers inside a zkrollup (alpha version on mainnet)
read this:
https://medium.com/aztec-protocol/aztec-zkrollup-layer-2-privacy-1978e90ee3b6
https://medium.com/matter-labs/curve-zksync-l2-ethereums-first-user-defined-zk-rollup-smart-contract-5a72c496b350
https://medium.com/starkware/hello-cairo-3cb43b13b209

I'm most excited about AZTEC because it's going to bring full anonymity to ethereum. Both cheaper and anonymous transactions, isn't that going to be glorious? They are supposed to launch in the second half of December, we will see

[Anonymous No.24156933]

>>24154053
What is the point of Ethereum?
This is very funny and I laugh at the unquestioning vapidity of people who say "smart contract" and just let other people fill in the details as to what that should mean and what the value should be. The mistake here is that "smart" is a misnomer. A contract, as we have known them for many hundreds of years, is already smart because it can often require the work of a solicitor or barrister to argue for or against the individual clauses of a contract; contract wording requires interpretation and that can require some of the highest order thinking. It is therefore smart.

A contract on Ethereum, then, isn't smart. It is a dumb contract. It is dumb in the sense that it executes itself, whether it has been audited and validated or not. And for that reason, you get fraud, after hack, after loss, after gimmick, after scam and essentially fuck all in-between.

And for what reason would anybody need to run computer programs in a decentralised way? What the fuck is the point? I can understand a currency being decentralised; that is completely intuitive and innovative, but running programs is useless as it is so insanely inefficient. Anything you could run on Ethereum you can run on AWS and it will be cheaper, faster and more secure, therefore resolving the trilema and revealing Ethereum to be completely and I mean COMPLETELY redundant. Just because something can work doesn't mean it has value, much like a kettle connected to a dynamo on an exercise bike would work. Ethereum is a fucking joke

[Anonymous No.24157010]

>>24156171
weird flex

>tfw only 1600 ETH

[Anonymous No.24157018]

>>24155003
In your dreams.

[Anonymous No.24157168]

>>24156817
zksync.io has already proven 100-200x scalability which can be used right now. then sharding will add 64x times that so hypothetically at least 10,000x more. Vitalik has written some shit saying he can get it up to 100,000x but we'll see

[Anonymous No.24157299]

>>24156933
don't ask questions just decentralize everything bro

[Anonymous No.24157343]

>>24156933
That’s great anon, are you finished blogging yet? Have fun being poor fuckface

[Anonymous No.24157399]

ETH FUD holy shit i'm going all in

[Anonymous No.24157403]

>>24154126
>>24154317
t. charles hoskinson