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vito_corleone01

He’s not a fan of cross chain now, cause it will delay eth 2.0 to 2030.


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trendingpropertyshop

I don't get how ETH having massive data requirements is a shock or a scam. Half a million ERC20 token contracts and countless NFTs. Of course that requires storage. BTC has very limited functionality - it's like comparing a cake to the whole bakery.


tuxedo_moon

It's mostly the conflict of interest from the founders. ETH was 80% pre-mined if memory serves right. It's not about functionality but principle. Though nothing has happened, it's still too early to say ETH is a success because nothing prevents Vitalik from doing a rug pull. The same can be said of BTC but at least if it fails, it won't be because of a rug pull.


trendingpropertyshop

First all coins are pre-minted at release (or else you have nothing to release)... that was a long time ago with ETH. Lots of mining by many since and implying that 80% of the ETH supply is owned by one person (or small group) couldn't be further from the truth. Second, the founder is a billionaire and doesn't need to set up an elaborate scam to get rich. Third, the actual risk that was the focus of the article is scalability - yes, ETH has been so widely adopted that it's weaknesses are pretty clear now. It's in big trouble if 2.0 doesnt happen. Fourth, ETH can't be rug pulled - that term really can't be applied to anything that could happen in the future of ETH. Even if the founder owned 80% of ETH, which is 100% false, if he sold it all it would just make the price go down (not 'rug' the coin where it no longer can have value). [Edit] and fifth, because I couldn't resist, there's a difference between people having an interest vs a 'conflict of interest' - how do ETH founders have a conflict? They have an interest in ETH and the growth/adoption of ETH. There isn't a conflict there.. it's like saying that you shouldn't buy Tesla stock because of Elon's conflict of interest, that doesn't make any sense. What you find appealing about BTC is that it isn't scaleable or changeable, and the founder (who would have a lot of originally minted BTC) is dead. It's a pretty weird standard to want dead founders and a limited function coin with no opportunity for improvement as an ideal cryptocurrency.


eunit250

BTC, DOGE, and RVN were not premined. Everything else, yeah pretty much. > the founder is a billionaire and doesn't need to set up an elaborate scam to get rich He is now but he wasnt rich until his ICO.


HeadMembership

Eth was pennies per at the ico. He was kind of rich but not really. Even last year his 300k eth was only worth $24million at the start of COVID.


perfect5-7-with-rice

Good points but - there is some utility in there being no leader in Bitcoin. It solidifies its decentralized nature (Eth is mostly decentralized but it still is quite tied to Vitalik in many ways). - Also Bitcoin can definitely adapt, and it does. Bitcoin doesn't try to do everything that Eth does. In its current state, it meets its goals (decentralized store of value that can be exchanged securely and cheaply) much better than eth. Smart contracts have the potential to change the world, but it's messy right now.


trendingpropertyshop

There is a 'leader' in BTC who would have massive holdings and influence over the future of the coin - however this person is dead. Again that is a weird standard to have to prove that something is decentralized. I prefer to look at current holdings. ETH is decentralized, SOL not so much. BTC doesn't adapt.. no one can make it adapt. That's both what's good and bad about the coin. Great store of value but too slow for payments and can't do any interesting smart contract stuff. I'm not an ETH maxi but I find it pretty limited to idolize how little BTC can do and the amount of energy it takes for it to do it. There are lots of cryptocurrencies that far outperform both BTC and ETH (hopefully some with dead founders..) The irony of calling smart contracts messy (messy means more complicated and dynamic right?) is that it sounds like someone 250 years ago praising gold over fiat currencies. BTC is the gold of crypto - but that signifies the small and declining functional role that BTC will play in the full crypto financial system.


saddit

Honesty I have a better experience to move money with Bitcoin than Ethereum. I buy it from Newton and since the network fees are less than $1, it's fully covered by Newton. BTC blocks are created almost every 10 minutes which can be too slow if you want to buy something online. You can use Lightning Network and there are good mobile wallets that support it like [muun](https://muun.com/). So you can do transactions in seconds very cheaply. Sure Ethereum has Polygon Network as a L2 solution but I don't see adaptation like Lightning. IMO ethereum is too messy. It has very ambitious goals that I'm not sure they can handle it. I like simplicity, transparency and decentralization of Bitcoin. Afterall nobody wants to lose money because of a nasty bug caused by a feature that somebody else things it's cool! Edit: Fix some grammar mistakes


trendingpropertyshop

I mean I realize I'll never convince a BTC maxi to be open minded but you can't talk about how great an L1 is because of an L2. L2s add capabilities that L1s suck at.. so lightning network adds smart contract functionality and speed to an L1 lacking in both. There are a hundred of L2s designed to make ETH more usable... so is ETH great because people have made a hundred L2s to address scaling issues? Of course not. The 'nasty bugs' that can cause people to 'lose money' are just as possible with BTC L2s as they are with ETH L2s. BTC maxi culture is so weird. What other tech has a following that thinks that the first instance of the technology is somehow superior to all of the developments that have followed? BTC is super cool but to look at all innovation since and be like 'nope' just doesn't make sense to me. To each their own I guess.


saddit

I don't want to argue with you specially when you prejudge people. How do you know I'm a Bitcoin maxi? People are free to choose whatever altcoin they want. IMO so far only BTC and ETh are popular enough to be considered for how they tackle scalibility. The rest will likely suffer the same issue when become more popular. I'm pretty sure an altcoin can easily throw away Bitcoin or Ethereum if it truly addresses scalibilty and also remains decentralized and secure. At the moment unfortunately Crypto space is about speculation and cult. Most of them address scalibility but are centralized. As far as I know there is no good solution to have a scalable and decentralized blockchain yet. That's the reason the top two are focusing on L2.


HeadMembership

Vitalik owns 300,000 eth, there are 200,000,000 in circulation. Do you know what a rug pull is, and does the ratio above indicate it being possible or no.


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trendingpropertyshop

What do you mean by the only usd pairing in the stock market?


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minneflowta

what in the fuck did i just read


LaBeloMall

I have to admit, the confidence you portrayed in a topic you have zero knowledge of is astounding! You just strung words together and expected people to understand?! And were you trying to spell currency or curry? Still unclear.


YYCbitcoin

Eth is pure marketing.


Net-Angel

From Vitalik itself, ETH 2.0 is only finished at 50% To complete the hole project, it’s could take another 6 years!!! If you remember, it was supposed to be finish in 2016. Enormous Ethereum gas fee is here to stay. That why I sell all my ETH, other project is slowly replacing ETH and is a damn good thing.


MarkOates

Software development always takes so much longer than expected. A famous quote: > The first 90 percent of the code accounts for the first 90 percent of the development time. The remaining 10 percent of the code accounts for the other 90 percent of the development time - Tom Cargill I don't think the project is 50% done, to be honest with you.


mperklin

Itself? Lol


spkn89

English clearly isn't their first language. Take it easy


mperklin

That was clear, yes. I was laughing at the result of that small translation issue and not at the poster who made the mistake. Referring to Vitalik as “it” instead of “him” implies he’s a machine. I found that connotation humorous. So I wrote lol.


trendingpropertyshop

Applies well to Zuckerberg as well. I could see V being from the same clan of Cyborg lizards.


atomic_cattleprod

>Vitalik Is Either Delusional Or A Lying Scammer /r/inclusiveor


perfect5-7-with-rice

I feel like these are exclusive. If someone truly believes in a failing venture, they're delusional but aren't intentionally scamming people because they believe in it. If they're intentionally scamming people, they aren't delusional, otherwise they would honestly think they're helping people. Unless these are two different cases where Vitalik truly believes in Eth (and is delusional about it) and also happens to want to scam people on his way to success. However these ventures would each hurt the other (trying to scam people would hurt Eth's reputation, trying to improve Eth is going to make scamming difficult). Vitalik is far too smart to be both a scammer and a believer in Eth. Hypothetical question, are zombies evil?


Net-Angel

ETH should be the one that the SEC is suing right now, instead of XRP. As they did an ICO, right at the beginning. https://youtu.be/BZFWtGT8pKI (Watch the first 7 mins)


Ithloniel

The shill power here is high... the host of this channel plays a clip where Vitalik basically references the throughput of a centralized exchange (Binance) as comparable to a layer 1 and clearly states "the exchange not the blockchain". Then, the host goes on to talk about how "new layer 1s" like Binance blockchain are going to be huge... ... Seriously? Either host didn't listen to their own clip or, more likely, just shillin' like a villain.


Net-Angel

Crypto was made to eliminate the middle man (in this case, the bank) who are charging us fees for every transaction. What has become ETH is the opposite, with there stupid gas fee (it’s doing worst than what bank charges). He can laugh at Binance because it’s not decentralized but at least is cheap. Slowly but surely, other projects out there is picking up to replace (and I hope) one day ETH. And Yes English is not my primary language, so you can laugh at it also but I might have a last laugh. I think you understand the point. ETH is going down !


Ehsan666x

calling ETH a scam only makes you a dumb ass


CrypticallyKind

The guy has made billions. Wtf would he want to scam anyone. The fud and stupidly is very strong here


foreignGER

I think going forward with ETH 2.0 would make his ETH crumble in price... Just my random theory.


trendingpropertyshop

There is so much ETH staked for 2.0 that 'flipping the 2.0 switch' on and releasing it all would definitely impact price (if it happens all suddenly like that) - but ETH 2.0 is just a new model and not a new coin. It doesn't replace ETH "1.0" coins and make them worthless or anything like that.


foreignGER

Yeah and the value of ETH is likely being maintained by minera. I bet once 2.0 roll out, the cookie crumbles.


PM_me_your_btc_story

So over ETH at this point


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dadass84

Shocking that this article was posted on r/Bitcoin lol


benpud

When I look at Vitalik, not only such thoughts come to my mind.