You are viewing a single comment's thread from:

RE: Ethereum is garbage, how do you think?

in #ethereum8 years ago

Supply of ETH tokens is not unlimited. 5 ETH reward per block until Proof of Stake is implemented.

"they are only set up to make money" ... what does that even mean?

The amount of developers who are actively working within the Ethereum ecosystem demonstrates its value and potential.

The value proposition of ETH is different from that of BTC or LTC. Its like comparing a gold coin to a gallon of gasoline and saying the gasoline is worthless because it can't buy things.

Sort:  

give me a little information if ethereum not set up to make money :)

Agree with blakemiles84 here. There is a post by Vitalik indicating that POW will be limited and ETH transition to POS. In short it says mining will be difficult and system will transition to POS. Read below:
"As it turns out, with the change in the difficulty adjustment algorithm brought about in the last hardfork, the ice age will come very slowly indeed. Originally, the maximum amount by which the difficulty could adjust was 1/2048x, and so given a natural mining difficulty of ~2**45 (where it is now), after around block 3500000, it would go up faster than it goes down, and the protocol would quickly freeze. Now, difficulty can adjust down faster than that if the block time is slow enough, and so even after this point there is an equilibrium. At block 3.5m (1 year from now), we would have an equilibrium block time of 25s for 100k blocks (~1 month); then we would see 35s for 100k more blocks (now ~1.4 months); then ~55s for ~2.2 months, then ~95s for ~3.8 months, and so forth until we get ~655s for ~26 months (ie. slightly worse than bitcoin), and only after that does the protocol break because of the cap of ~99/2048 downward adjustment, and that final doom does not take place until 2021 (though it certainly gets very annoying by the second half of 2017)."
https://www.reddit.com/r/ethereum/comments/4iozgf/in_around_14_month_the_difficulty_bomb_will_make/

Coin Marketplace

STEEM 0.19
TRX 0.12
JST 0.030
BTC 60756.34
ETH 3373.61
USDT 1.00
SBD 2.51