Its time to face reality, Ethereum is not a working product.
I created this reddit thread on r/CryptoCurrency because its really bad there right now and its time to start breaking the echo chamber effect there.
- Ethereum is at 100% capacity right now and is averaging around 30k unconfirmed transactions.
- Ethereum has 15 transactions per second and claims to be a dapps platform but is unable to run meaningful dapps.
- Ethereum has been out for years and solutions for these problems are still years away. (This is pure negligence or incompetence.)
- Ethereum cannot be used as a currency as it is too slow and has prohibitively high transaction fees.
- Ethereum requires gas which is absolutely crippling when it comes to being able to run dapps. (its a fundemental design flaw that I personally consider to be a 100% show stopper for any kind of quality dapp.)
As it stands right now Ethereum is ironically a multi year ICO for itself right now. Casper and Plasma are years away. The coin is broken and in a non functional state. The Loom network has potential but its a bandaid solution when compared to superior coins that already exist right now and can do much more.
Steem is a dapps platform that dwarfs ethereum in every possible way. Steem is often overlooked while its the most widely used crypto in existence right now. Its the only crypto that houses multiple social media daps as well as video and streaming dapp capability's. Even Reddit doesn't have video and streaming capabilities and its a centralized application. Dlive is INSANELY good right now and seems to be improving constantly. Dapps are the future of crypto as it will mark the mass adoption paradigm.
We can try to make an argument that ETH is less centralized than newer coins but the problem with this is that Ethereum doesn't work. If the coin is broken and incapable of being used then it doesn't matter how decentralized it is. On one hand, people can say that EOS had a year long ICO and that is bad while ETH is trapped infinitely in a perpetual ICO state with no signs that it will ever be usable for anything substantial any time soon. Casper and plasma are years away.
Its time move on. Its time that this place gets in touch with reality. Its time to bust the eth maximalist echo chamber. Because its dishonest and its hurting people. And its self destructive. Stop investing in coins that cannot be used for anything substantial.