In this video I dive into why companies will not be using Ethereum.
This is video # 2 in a 6 part series called Ethereum Bullshit!
Why most companies won't be using Ethereum (2/6)
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Crypto currencies are volatile however I see Bitcoin to remain king as Etherium can be hacked easily. read: The fears in Crypto currencies : Etherium downfall to 0.10 USD : https://steemit.com/steem/@charles1/the-fears-in-crypto-currencies-etherium-plunge
Good point. Lets stay in touch
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Yeah, I'm all for open distributed networks but companies with the resources will just make their own blockchain networks. No one seriously thinks Google is going to let a critical infrastructure run on a public blockchain where they can't optimize if for speed do they? In fact, I'd be shocked if these companies aren't already testing concepts on their own internal forks.
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Good point
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You are right, why does a company need to buy all that eth gas to store data around thousands of computers around the world? They don't.
Before the ethereum presale I wrote on a eth subreddit how they should keep part of the code covered up because companies will just fork it right away. It looks like this has happened and all that work is essentially for nothing.
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Hi @steve-mcclair interesting thoughts. If companies create their own block chain will people trust it and respect it as a genuine block chain?
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I answered this in my first video.
https://steemit.com/cryptocurrency/@steve-mcclair/inefficiencies-of-eth-ethereum-bullshit-video-series-1-6
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I don't believe you did? At least I could not find it in the video. Personally I see a lot of great potential in Ethereum, but I find it equally insightful to hear opposite opinions.
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I talk about inefficient block chain is. The reason it was created is so bitcoin (the currency) could get around government censorship. As a result you end up with a very heavy software that requires thousands of miner to keep a copy of the blockchain.
Now go ahead and ask yourself what is ethereum doing that needs to get around government censorship and has to go to great lengths to process this information?
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Isn't there any value in just having a system (block chain) which you can have 100% faith in? Something that cannot be altered.. Also in cases where there is nothing obvious to hide.
Also there is the whole question of cutting out the middleman.
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Ethereum rolled back the blockchain last year in the DAO fiasco, so much for it not being altered.
Why do you need 100% faith in something? Does walmart have 100% faith in their system? I really don't know but I am sure it is close to 100% without a blockchain.
You need a middleman in a lot of things. For instance crop insurance was one of the first things ethereum was being pitched for. The problem is that you need an adjust to go out to the farm and appraise how much damage was done. They can then write the farmer a check. No need for any blockchain.
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I love hearing your arguments. There is definitely more to this than I can comprehend. Thank you for widening my views on Ethereum.
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