suikadayo

Ethereum Altair hard fork at the end of this month introduces light clients which will enable the browser to sync with the chain, making infura unnecessary.

Ethereum the project never talked about it as “code is law” anyway. It was the company that created The DAO that memed it into existence.

It’s increasingly hard for any person to have that much influence with so many different client implementations for Eth2, and the nodes will have to accept those changes, whereas Bitcoin is pretty much Bitcoin Core.

Technically wasn’t a rollback but my understanding is it was a state change, and was done with community consensus via carbon vote.

Let’s not mention what Satoshi did in 2010 with the 184 billion BTC hack though ;)

The merge is expected to happen Q3 2021 or Q1 2022, and the withdrawal/unstake functionality will be implemented afterwards, so most likely 2022.

False. PoS Beaconchain is already running, since December 2020, and the merge is expected to happen Q3 2021 or Q1 2022. Sharding is not immediately necessary for Eth2 to scale - we have rollups in the meantime for that.

Cardano doesn't have the 8x developer mindshare, teams working on projects, nor the institutional interest as Ethereum.

Lightning usability is horrible and requires 2 parties to be online at the same time, whereas with Ethereum scaling solutions, you can use your regular metamask wallet to deposit, and you're on L2.

Wait what? DeFi pretty much started booming from last summer.. it hasn't existed for a decade. Do you not know Uniswap? It's existed since around 2017. Sushiswap? even Pancakeswap?

There's $80 billion locked in DeFi right now. https://defipulse.com/

Uniswap has more transaction fees than the Bitcoin network https://cryptofees.info/history/2021-05-16

Institutions are even starting to get in https://twitter.com/stanikulechov/status/1394390461968633859

You can use Ethereum Layer 2 tech like Loopring, zkSync, and eventually Optimism which Coinbase supports in the Coinbase Wallet. They haven't even added support for Lightning

Vitalik didn't decide to undo the DAO hack, there was a community vote (http://v1.carbonvote.com/), unlike Satoshi who singlehandedly rolled back the chain in 2010 after the 184 billion BTC hack.

https://bitcointalk.org/index.php?topic=823.msg9573#msg9573

It's not up to the miners to decide, it's up to the nodes to decide.

Also, merge testnet is up already, making sure there are no significant issues.

You should read up on EIP-1559 and inflation after the merge then.

Ethereum will effectively have a cap of 120m, which will burn down to 100m over 12 years.

It already exists https://beaconcha.in/

As price of Ether rises, it becomes even more difficult to acquire the 32 ETH required to become a validator.

it did happen (https://beaconcha.in/) and the merge will happen either Q4 or Q1 next year.

Basically. Also, it's already possible to do NFTs with negligible amount using Immutable X layer 2 scaling solution on Ethereum - it's just that they seem to be doing it only for Gods Unchained right now. There will be even more other NFT scaling solutions.

Yeah, and any discussion surrounding hard forks was allowed right in the open on /r/bitcoin and bitcointalk, leading to informed node operators.. oh wait, that didn't happen, people got banned.

They are new ways to gamble, but not everyone is in it to gamble.

ICO is just a way for startups to raise money (though lately, it seems to be more about governance tokens once they have their project up), DeFi is a way for people to lend and get loans, trade margin, synthetic stocks, and NFTs empower creatives to make money off of their work and people buy them because they enjoy it and also see them as long term investments just like in the traditional art world.

Are the prices ridiculous? Sure, but so is Bitcoin during bull runs. Things will settle during the next bear run and tokens will likely reflect more realistic prices.

USDC is on Ethereum (currently PoW but will be on PoS within this year or so) and other PoS chains. Ethereum PoS will be about 99% more environmentally friendly than Bitcoin.

That’s kinda what we heard about Lightning and payments, but we can currently see that there’s more BTC on Ethereum, than there is BTC on Lightning according to http://btconethereum.com.

I doubt there’ll be any significant value locked in RSK/Sovyrn, when most of the liquidity is on Ethereum. Plus, it’ll take time for BTC developers to learn Solidity, and most of the DeFi network effect will be on Ethereum and other EVM compatible chains.

It’s actually less than Bitcoin’s when doing a simple transfer. It’s only bad when you’re interacting with smart contracts. Layer 2 solutions like Loopring and zkSync also exist, with Optimism in July.

Not really decentralized when people have to rely on third party apps like Strike to open channels for them, or they have to open the channels themselves while both users are online. It’s a mess from a usability standpoint.

There’s hardly been growth in the value of transactions on Lightning, compared to the 20x growth on various L2 solutions on Ethereum like Loopring, zkSync, etc. Lightning’s UX is poor as well, where both parties need to be online at the same time.

While his environmental impact point is true with PoW, Ethereum is moving to PoS so it won’t be as problematic as Bitcoin.

People fail to realize that it’s still the 1997 Geocities moment for NFTs - there’s a lot to be explored and experimented with.

This is still 1997 for NFTs - there will likely be more to come in the next decade

Wow, I just checked - you weren’t kidding. 14TB for ~300 USD. Any person living in a third world country and bought BTC 2 years ago would be able to afford that - decentralization isn’t an issue. But yeah, this just further proves what a weak argument it was for BTC to go with small blocks.

Opensea currently uses Matic/Polygon, in addition to L1 https://matic.opensea.io/

> “Just make the blocks bigger” means more and more storage of a permanent ledger, which means less and less people can run a node."

This argument was already debunked by the Bitcoin community from the beginning before the hard fork even happened though - Moore's Law. Disk space rises and price goes down as time goes by - it really wasn't ever an issue. Even 2mb, 4mb would've been enough for the next few years.

I’ll be curious to read what the author thinks in the next few years regarding DeFi and NFTs on Ethereum and other smart contract blockchains. Things are just getting started and it’s going to get interesting.