Vitalik says Ethereum Apps are Screwed by Scaling

cflclosers (67) · 7 years ago

I've never thought about this in the terms that Dan was questioning Vitalik about. It's really an eye opener and I think the etc may in fact be trouble compared to something like EOS. I hope I'm still safe in steem lol because that is where the bulk of my assets are

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cflclosers (67) · 7 years ago

thanks for upvoting my comment @investing . That's so kind of you. I really learn a ton from you vids and appreciate how you treat your viewers. I really look forward to my daily dose of knowledge. I'm really going at Steem like it's the right play and am feeling like I need to spend some time thinking about and investing in EOS as well. It's going to be hard to stave off my steem investing strategy to add EOS but I think from what you've described in the past that EOS is going to be a monster. I hadn't known about Dan until you pointed out who he was and what he's done so you really do a great service to your listeners. Very few on steemit take the time to do this.

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devinesoul (10) · 7 years ago

Great video,,,,really outstanding video

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altafwani (49) · 7 years ago

its scaling problems will need to be fixed fast if it is to become widely adopted.

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digestyourself (44) · 7 years ago

EOS

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shihabieee (8) · 7 years ago

If he left honestly, there are alot of up and coming people and crypto's that would gladly take his place. He could leave and we would see someone else take on the challenge. Im sure the NEO team or any other player with tech that can scale and dapps...nice post though, I had to upvote because it shows how but hurt he is becoming, and how he thinks he has that much of an impact that leaving would make people stop this behaivior.

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yaan (59) · 7 years ago

I think they can scale their project easily, they will be alright :)

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badmusgreene (66) · 7 years ago (edited)

Ethereum still has a long way to go in terms of scalability and real world blockchain use. Can't wait for Dan Larimer's reply to blockchain tech irregularities.

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max1994 (1) · 7 years ago

The people group I need to partake in will remove the lease looking for vote-purchasers and reward the individuals who utilize their chose broadcasting power for the advantage of all group individuals instead of particular vested parties, (for example, vote-purchasers). I have confidence that such a group will be much more focused in a market rivalry for mindshare than one that chooses vote purchasers.

This truly goes to the pith of the world we live in, both physical and computerized. We are seeing computerized spaces, ones that are controlled by voracity, shortage, and accomplishment reflecting the physical. We have to progress far from this or else we hazard essentially making new slave holders.

Cryptographic money and blockchain offers the capacity to change the course that humankind was on the most recent 100+ years (in reality longer than that yet I will adhere to the banksters).

The test isn't in the innovation however in the changing of individuals. On the off chance that we act like we generally did, nothing changes. The improvement of the weapon over the bow/bolt essentially enabled us to murder in more noteworthy numbers. The way that people were on track to continue murdering did not change by any stretch of the imagination.

In the event that blockchain is simply an advanced adaptation of the US Congress, at that point we didn't achieve anything.

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cryptosteve (45) · 7 years ago

everything has ups and downs. But Vitalik remains always a Giant in the world of blockchain, Ethereum has gone viral more than It was expected.

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6 votes

jbajunior (34) · 7 years ago

I agree

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masud91 (55) · 7 years ago

Most points are very weak. But this is overall what he's pushing through the Eth maximist community:

Votes being aligned with Stake size: "The flaw in all of this, of course, is that the average voter has only a very small chance of impacting which delegates get selected"

Bribes for Votes: "The delegate slot gives a reward of $100 per period, and candidates promise to share some portion of that as a bribe, equally split among all of their voters." "Now, some candidates will want to secure their position by sharing more; by sharing 2%, you are likely to get twice as many votes as those that share 1%"

Cartels and DPOS in Bitshares: "But it gets worse. At this point, there’s an incentive for delegates to form alliances (aka political parties, aka cartels)" "pooling votes"

No conversations between US EOS community and EOS China: "Since the EOS.IO official Twitter account was founded, there has never been any interaction with the mainland Chinese EOS community" * Block.One has offices in HK. Not sure about contact with mainland.

Identity Issues: "If they get removed from the delegate position via a hard fork, they can simply restart the attack again with a different identity." * Identity verification mechanisms and @account fingerprint solves this

Cryptonomics (economic incentives) VS. EOS Governance "Cryptoeconomics is about trying to reduce social trust assumptions"

Then he rants about Casper
https://www.reddit.com/r/eos/comments/888zk5/list_of_vitaliks_issue_with_dpos_governance_lets/

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shishiristi (13) · 7 years ago

Dear @investing, Smart contracts implemented with Turing-complete programming languages are arguably the main innovation introduced by Ethereum. Ethereum smart contracts have been questioned. Buterin confirmed that Ethereum will eventually introduce formal verification for smart contracts and a new Python-like smart-contract programming language - dubbed "Viper" - Ethereum applications.

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5 votes

abdulmanan (67) · 7 years ago

I have commented on your youtube video sir,also liked it

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hafez (0) · 7 years ago (edited)

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Reveal Comment

investing (64) · 7 years ago

He sounds full of himself a little bit. Like we “need” him. Lol.

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hashcash (63) · 7 years ago (edited)

I saw the video and I have to agree that he makes some valid points.
I am diversifying in EOS and KMD.
(It seems easy to say that scalibility issue should have been dealt at inception. I think it is more of a process that everything sooner or later would have to go through. )

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rjunaid12 (58) · 7 years ago

A few weeks ago Vitalik presented a scaling solution for plasma.
This solution aims at boosting the potential capacity for ethereum

The main benefit here is that basically the amount of data that clients need to process goes down by a lot," Buterin explained.

Rather than dealing directly with user funds, the vision is that exchanges could provide order book functionality and insure losses through Plasma contracts.

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taylor10 (57) · 7 years ago

Shunned the title a little there pal: "Vitalik: Ethereum Apps Are Being 'Screwed' By Scaling" is the right one.

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investing (64) · 7 years ago

Tell me how it’s any different. You couldn’t run Steemit on there. It’s like comparing a Lambo to a tricycle in blockchain terms. Dan is way ahead.

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dera123 (62) · 7 years ago

don't expect a meaningful answer because that comment is just copy/pasted from reddit to leech up some upvotes. This persons English skills are not that good ;-)
And it's the same with the comment from max1994 because it's the same person. Oh and masud91 is also one of his accounts

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taylor10 (57) · 7 years ago

You're okay with yourself. Because you
use multiple IDs yourself. And you
comment on getting upvote. You are a
chatter. @dera

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dera123 (62) · 7 years ago (edited)

You are hilarious xD
I would love to learn which other accounts I have ^^
And I am commenting to get rid of abusers like you
Oh and sure I like to chat but I think you mean cheater.
But thank you for supporting my previous points with your comment

Oh and btw. I think you even don't know anything about etherum or even cryptos or how steem works. Maybe you should read the copied stuff you are posting ;-)

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investing (64) · 7 years ago

Thanks for the heads up

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obaidb2 (57) · 7 years ago (edited)

"If you want to build a decentralized Uber and Lyft on top of an unscalable ethereum, you are screwed. Full stop."

I liked the words .

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endless.drugs (65) · 7 years ago

I hope that no one is screwing around with one of the most revolutionary cryptocurrencies out there!

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faizan07 (48) · 7 years ago

One day they talk in favour by presenting solution next day they just talk something different.... Don't know what to tell about them..

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melianasagita (49) · 7 years ago

hahaha he also said about circulating supply about eth,his ideas sometimes go wrong.

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sadpotato (58) · 7 years ago

Are you sure he is from Canada? I thought he is from Ukraine.
Well... they will scale and there will be another Ethereum. It's okay.

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propane (45) · 7 years ago

At first I didn’t know he was a he for sure

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mumin007 (53) · 7 years ago (edited)

Vitalik: Ethereum App Builders Are Being ‘Screwed’ By Scaling Limits It wasn’t the talk he was supposed to give. At the Deconomy conference in Seoul, South Korea, on Wednesday, ethereum creator Vitalik Buterin scrapped a plan to discuss his 12-month vision for the world’s second-largest blockchain, opting for a more general discussion on blockchain and its potential.
Everything swings, there are ups and downs, boom and crises, well we have to accept all of we believe in crypto and the time will come when there will be only benifits.

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cryptoluck (46) · 7 years ago

Just crazy how the market move.. really impressed. It will get better we have ups and down.

cheers

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rhyscn (49) · 7 years ago

The guy is a genius, really hope he can execute on his visions. Unlike other 'tech entrepreneurs' I don't believe he is driven by profit, obviously it is a motive but I don't feel his main objective.

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hanief (49) · 7 years ago

*Because of a hard-coded limit on computation per block, the ethereum blockchain currently supports roughly 15 transactions per second compared to, say, the 45,000 processed by Visa.
There are a few ethereum scaling projects in the works, each of which tackles a different scalability problem.
The goal of sharding is to move away from requiring 'full' nodes - those which store the full state of the network and every transaction that occurs.
Lightning-style 'off-chain' transactions could bring the technology's capabilities closer to how users were told it was 'supposed to be' - fast and nearly limitless in supply, while still not requiring users to trust any intermediary

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muhasib (53) · 7 years ago

the graph is not always constant or straight, it has its ups and downs as well and thats life, life doesn't have a constant motion, it moves in the negative direction as well and we have to face it, same is the case with crypto it has itx market value high and low...

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moniristi (58) · 7 years ago

Buterin played out the way the conversation normally goes, and ended by noting that Ethereum developer meetings are now open and logged, so anyone with a beef of “centralization” as regards the Ethereum development process can see how it actually works in practice. When the original poster at Ethereum trader praised Buterin, he made the unexpected statement at the beginning of the article – criticisms of his own invention which he agrees with and wants to work toward improving. The discussion is interesting for anyone with interest in Ethereum, as Buterin shares more thoughts on the future of Ethereum after the recent blockchain congestion which prevented many of our readers from taking part in various initial coin offerings on the Ethereum platform.

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mstaflat (9) · 7 years ago

Thanks Dear @investing for this video, At the Deconomy conference in Seoul, South Korea, on Wednesday, ethereum creator Vitalik Buterin scrapped a plan to discuss his 12-month vision for the world's second-largest blockchain, opting for a more general discussion on blockchain and its potential.

That said, the discussion with fellow ethereum research scientists nonetheless gave a window into how the 24-year-old founder believes the platform needs to change in order to accommodate the growing levels of interest from developers.

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todoenmusica (48) · 7 years ago

Thank you for that info.. i'll give a check to you yotube video. Cryptos are the best btc, eth steem \o/

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shahaan (52) · 7 years ago

bitcoin and litecoin, store of value, gold silver, the rest its gambling ! and yes I made money with ETH and other ,but bye bye for now. just BTC & LTC

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sujonmia (2) · 7 years ago

Aw really Dr.Evil misses? awesome post vlog this is.
Your youtube video really cool.
I sub and watch your video..very cool video you share....

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erinna (50) · 7 years ago

In fact, eth price up and down. We hope that in the future it will be much better positioned.
Wonderful crypto information.
And video
@investing

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malcolmmerlyn (33) · 7 years ago

I hope he is able to fix this, but my question is, what will happen now that there are ASIC's for mining Ethereum?

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riazsheikh (44) · 7 years ago

Great post. thanks for sharing

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riazsheikh (44) · 7 years ago

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msena (60) · 7 years ago

Etherium need to be fixed some issues and and should be fixed it's supply. Then it will be more valuable like bitcoin.

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angelina66 (53) · 7 years ago (edited)

The young age of 19 who created created Ethereum! great. he is inspiration for every young star. He says Ethereum Apps are Screwed by Scaling! Great! reall its outstanding video.

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shuvopaul (25) · 7 years ago

wow..what a great video..it's realy awesome...

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tigerplus (48) · 7 years ago

He is absulately right..............
And I want to just say, everything has two option such as negetive and possitive......

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rowdi (41) · 7 years ago

Vitalik says ethereum screwed?....
....................
Nothing to say.........

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blazing (70) · 7 years ago

challenges come only to get better with time

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sarah.taylor (50) · 7 years ago

Great video,great to see you are up against this content,you are unstopable now.

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gapm (25) · 7 years ago

Muy interesante tu post! Mucho éxito

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clearbluecrypto (62) · 7 years ago

Awesome article I don't know the full implications of EOS platform but it seems to be the new hot trending cryptocoin/platform? I just bought some.
I never knew who was the creator of etherium now I know.

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cowalmax (26) · 7 years ago

Good post!

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christian.danny (48) · 7 years ago

Vitalik Buterin is amazing guy i love his ideas one of the best in this era.

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