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    Ethereum $AVAGE reply by Vitalik

    April 06, 2018

    Ethereum $AVAGE reply by Vitalik

    $AVAGE reply by Vitalik

    Posted: 06 Apr 2018 03:16 AM PDT

    Ethfinex added DAI today!

    Posted: 06 Apr 2018 01:17 PM PDT

    EIP 958: Ethash for ASIC RESISTANCE ?

    Posted: 06 Apr 2018 10:14 AM PDT

    To begin with, I jumped to crypto June last year after research enough on ethash vision on trully decentralised PoW protocol due to it's ASIC RESISTANCE in nature that allows any public to join ethereum network via GPU mining.

    GPU MINING - controlled by 2 well known public company (amd and Nvidia). I must said they do their best on providing all supply to allow all gpus can land into their precious customers (gamers & miners). - due to spike on mining demand, amd & Nvidia did struggle to meet mining demand. However, they are doing their best transparently to meet our demand by supplying parts. - at least they will not mine behind us just because they are the tools (GPU) creators.

    I watched the entire core Dev meeting this week (6 April 2018), personally I found a little bit disappointment due to the statement come from team around ASIC is only little bit better performance & cheaper.. it does not have security concern.. hence there is better to just wait Casper implementation which they also not sure when it will arrive in very soon.

    Few opinion from me 1. Do you think bitmain really so nice like amd or Nvidia, they announce new product and sell to us miners and let us enjoy the mining while they enjoy from profit on selling machine only ? - why bitmain pumping the entire network till now April and start selling it ? And you as miners who decide to buy their product..only start shipping at June/July ? Reason: if a single point having too much network power but still want more hash power without public notice, how to manipulate? SELL SOME TO OTHERS - why miners only get it starting shipping at June ? Production need time ? You must be kidding me.. Reason: personally bitmain should satisfied their current portion on network & also done their private selling to their business partner. NOW US AS MINERS, WE GET THE LEFTOVER.

    1. Do you really think this is the only machine bitmain can achieve ? I'm surprised core developer take it so lightly on this issue. It might be due to their vision and effort is fully switch to Proof of Stake. But don't forget.. now still proof of work.. Business as usual need to take care of. Better hashrate machine is coming soon..

    2. Core developer categorised ASIC as better product of GPU. As long they didn't hurt network on security level. They are OK for this. This is the most dissatisfaction moment when I hear the entire meeting. Ethereum supposed to be ASIC RESISTANCE.. now you categorised ASIC is little bit better than GPU as product.. so we ok for this ? I demand more explanation for this from core Dev.

    Do you think ASIC is good for community as whole ? Or we should just take care on network only.. like it or not community is the second consideration..

    I believe eth until today can be so successful is due to two reasons 1. Dev working so hard 2. Strong community on believing this network due to welfare was divided equally through pow incentives..

    I hope I digest the meeting result wrongly. Core Dev should not forget point no 2.. Without taking care of community, the ecosystem is breaking apart..

    Note: I believe this post will not be agreed by most people.

    But I want to know how many people willing to push the EIP 958 to be put on the priority to defend ethereum as TRULY ASIC RESISTANCE

    submitted by /u/cforce07
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    Vote if you support an ETH hard cap (EIP 960)

    Posted: 06 Apr 2018 02:20 PM PDT

    Per the dev meeting today, the core devs are unsure how much the community wants a hard cap. If you support a hard cap, up/down vote and also vote here on the strawpoll: https://www.strawpoll.me/15449010

    submitted by /u/10231984
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    ERC948 -- Subscription Revenue on Ethereum

    Posted: 06 Apr 2018 08:58 AM PDT

    Billionnaire Fund Manager George Soros Plans to Trade Digital Assets

    Posted: 06 Apr 2018 10:44 AM PDT

    South Korea’s Largest Banks Go Pro-Cryptocurrency as OmiseGo Secures Deal

    Posted: 06 Apr 2018 06:33 PM PDT

    Chile’s Countrywide Energy Commission To Use Ethereum For Energy Facts Pilot

    Posted: 06 Apr 2018 04:58 PM PDT

    The report of our Brass Beta smart contracts audit by Trail of Bits and Igor is finally here - one more step forward!

    Posted: 06 Apr 2018 05:43 AM PDT

    Ethereum’s (ETH) Vitalik Buterin slams Tron’s (TRX) Justin Sun for Plagiarism

    Posted: 06 Apr 2018 07:33 AM PDT

    Ethereum Needs a Better UX

    Posted: 06 Apr 2018 02:37 PM PDT

    We dove into what Netscape did for the internet and applied the same framework to determine what Ethereum needs to do in order to achieve mass adoption... I think we are at least 12 months away... Does anyone have a more precise timeline?

    https://coinsavage.com/blog/2018/04/ethereums-netscape-moment/

    submitted by /u/CoinSavage
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    Pareto Network - Non-Linear Modeling in Cryptocurrency Financial Analysis. Chiara Longo, PhD

    Posted: 06 Apr 2018 10:54 AM PDT

    Disappointed and disillusioned with EIP 960, how it's been received and lack of discussion into the potential effects.

    Posted: 06 Apr 2018 03:51 PM PDT

    Hi guys,

    Controversial and maybe emotional post here.

    So pretty much as the title says, I think EIP 960 is a bad and vague suggestion and I think the way it's been handled so far has been a failure. But especially I'm disappointed with the lack of critical thinking and arguments against it.

    I find it a bit unsettling that the 3 year old "clearly defined" goal and central aspect of inflation seemingly goes out the window from one day to the other without any real discussion, without really presenting models or analysis or research into the positive or negative long term effects of this, but just sort of on a whim as a result of a failed April Fools joke. Also the numbers seem completely arbitrary, if we can't make 120 million then we'll make it 144 million just because. Shouldn't more thought go into this?

    I've been reading arguments presented by Vitalik and Vlad and the rest of the community, but none of them seem persuasive to me and I'm astonished that no one except for Nick seems to have thought of arguments against it.

    It is of course entirely possible and maybe even likely that I'm too stupid to understand the implications or that there are some great arguments out there I haven't heard. And I sort of do hope that is the case, because otherwise to me this seems like a major step backwards, towards centralisation and oligarchy.

    Anyway so the pro arguments I've heard so far seems to be:

    1 - ETH will increase in value, this will attract more speculative investors and arguably this makes the chain more secure.

    In reality however there's already going to be an upper limit on security and most proposed scaling models will impose just 'enough' security, so this seems like a poor argument to me.

    2 - ETH becomes a better store of value, this will attract more speculative investors and now you can tell Bitcoiners ETH has a supply cap as well.

    Even Vitalik used the store of value argument today at the dev meeting, but since when was this ever a goal? ETH has been branded as 'gas' since the very beginning to illustrate how it was different from Bitcoin, how it actually serves a role as a utility token on the platform for fuelling decentralised applications. So what just happened here? Is ETH supposed to be a store of value now? If not, why is this argument used?

    3 - Some arbitrary ERC20 token could in theory become a better store of value than ETH.

    And so what? Unless you can pay gas, deploy contracts, stake and pay rent with another token, ETH has an irreplaceable role and intrinsic value so long Ethereum is being used. If some other token manages to become a better store of value than ETH, it has to be as a result of its value in relation to an app of some special utility or mechanic it offers, something that will be decided by the free market and not something EF should concern themselves with. Unless EF wants to be the central bank and regulate the market now?

    4 - Currency must be deflationary, there must be a sink reducing the supply to keep up demand and price.

    This is a conclusion Vitalik arrived on in his blog in relation to other tokens, and somehow this was bridged and used as an argument for ETH supply, but given ETH has "intrinsic" value on the platform, and ERC tokens have value only in relation to a particular function/dapp, this seems like a really bad argument.

    It also doesn't seem to take into consideration the increased demand as a result of Ethereum's growth. The conclusion that a currency must be deflationary in order to retain or increase its value is obviously flawed. Considering that ETH is worth $400 today and not ¢20, it clearly is possible for an inflationary currency to increase in value.

    Maybe this wasn't the argument, but on the twitter comment Vitalik just pointed towards that particular blog post and stated part of the argumentation was to be found in there.

    5 - Maybe because Bitmain has ASICs and in a strange way EIP 960 will limit the potential miner centralisation? This hasn't been clearly communicated, but is this also a factor in the reasoning?

    These seem to be the main arguments for a hardcap I've encountered, with a clear emphasis on argument 1. What I haven't seen is any convincing arguments or models that will show a positive long term effect, that will ensure Ethereum remains decentralised and a fair market place where new actors can enter on fair terms.

    So why am I in favour of keeping the inflation? It's really simple, because I believe that's more in line with the ethos of decentralisation and frankly it's more fair.

    If ETH becomes deflationary you'll create a small elite of 'untouchable' holders (or hoarders) and Ethereum essentially turns into a pyramid where the first adopters become increasingly rich and wealthy fuelled by the new adopters who must contribute 1,000,000x to obtain the same share of resources. That's great for the first 20,000 - 50,000 investors, and I think a large part of the reason this suggestions receives major support, but it really sucks for the remaining 8,000,000,000 people if they want to participate.

    With a controlled level of inflation, you can gradually over the years mitigate for the 'unfair' initial distribution of ETH and Ethereum can become decentralised, but without inflation there's no mechanic like this in place and wealth/power is guaranteed to remain centralised. Great if you want to maximize your personal wealth, but shit if you want to create a decentralised economy.

    It was always my impression that big part of the goal of Ethereum was to enable a more fair distribution of wealth and power, by creating a more transparent and decentralised economy, but I think EIP 960 goes against that. I realise I'm outnumbered by the majority on this matter so it's pretty clear that maybe I just have it all wrong. Nonetheless I feel and think like this is hasty, like it hasn't been thought* through at all and is likely just meeting support because people perceive this as the way they personally will benefit the most economically, without really considering how it affects the long term viability of the platform.

    submitted by /u/ialwayssaystupidshit
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    Cellarius Teaser: Where to?

    Posted: 06 Apr 2018 11:52 AM PDT

    Why 0x is not as trustless as it may seem

    Posted: 06 Apr 2018 02:34 AM PDT

    Why blockchain if far from perfection

    Posted: 06 Apr 2018 06:44 PM PDT

    IBM is all about that Blockchain!

    Posted: 06 Apr 2018 06:29 PM PDT

    Ethereum's Compact Merkle Trie (Part I)

    Posted: 06 Apr 2018 08:52 AM PDT

    Streamr's monthly dev update is out! Ask the dev team any tech question on Rocket chat.streamr.com

    Posted: 06 Apr 2018 04:09 AM PDT

    Expected temperatures during Summer?

    Posted: 06 Apr 2018 04:02 PM PDT

    What is everyone expecting the temperature of their gpu's to be come the heat of summer?

    I am wondering if I can put a few rigs in my garage (with only window open and no A/C). Right now they roll at 60-65 degrees celsius in a ~12 by 12 room in my house.

    submitted by /u/Crypto_Rick_C-137
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    Will decentralised exchanges effect the Ethereum dApp ecosystem?

    Posted: 06 Apr 2018 03:55 AM PDT

    Currently we have many tokens being created on Ethereum by various projects for one purpose: To allow decentralised transaction of value for purchase of the project's service. Most of these projects are still in development, and Token valuations are not based on current utility, but on the project's future promise.

    Many projects envisage a future where these tokens will be transacted with one-another as the users require different tokens to acquire different services. For example, we expect someone wishing to purchase computing power on the Golem Network to use GNT (Golem Network Token), and we expect the person renting the power to be paid with GNT. This would involve the participants holding the token for some time until they wish to use the service again or 'cash-out' for a different token.

    Alternatively, users could effectively bypass GNT via decentralised and very low-fee exchanges (and some contracts). Example: A user purchases computing power with ETH, which is instantly exchanged to GNT (via some decentralised exchange), and delivered to the Golem Network contract. The contract sends GNT to the computing power provider, who instantly exchanged straight to ETH. This effectively eliminates the 'holding time' of the token, which many users will prefer as it simplifies their accounts.

    TL;DR Users will want a common cryptocurrency to access all dApps, and users will not want to interact directly with Tokens. This could be achieved through automated decentralised exchange between the common cryptocurrency (ETH) and the token. How do you people think this will effect valuations of these dApp tokens and feasibility projects as the cryptocurrency ecosystem develops?

    EDIT: Doing some research, I've found this article written by Vitalik on similar topics.

    submitted by /u/poshz
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