Should Ethereum hardfork AGAIN?!
Is Ethereum ever going to just work? Or is Tezos going to eat Ethereum's lunch?
The news is out that due to a programmer error 300 million in Ether may have been locked up. Lockup has occurred this time in a way which made the funds completely in inaccessible. As I said in my previous posts, the developers have to put the individual user first on matters of ethics in my opinion. Are individual users of Ethereum going to be effected by this? How many and which wallets are destroyed? How many ICOs/projects are to be affected?
This to me highlights a major problem which I identified in Ethereum prior to the DAO occurring. In Ethereum we have to trust the developers to produce perfect code in a smart contract language which is immature. Ethereum due to it's design and due to the design of solidity, but more importantly due to the fact that there aren't very well written standard libraries for the most common tasks (such as for a multi-signature wallet), we end up in situations where bugs can cost potentially billions of dollars.
Without secure libraries Ethereum is doomed. The fate of Ethereum in my opinion will depend on the ability of developers to create secure libraries for basic functionality and multi-signature functionality is one of the most basic and common functions Ethereum could provide. Vitalik has a point that when Ethereum was less mature the DAO would have taken down the entire project but then we have this happen? Depending on which projects are affected it could be more ethical to hard fork.
Should there or shouldn't there be a hard fork this time?
If a list can be compiled of all the projects effected then we can get some idea of how many individual users might be effected. In the case of the DAO the vast majority of users would have been affected either due to the hacker selling down the price, or due to there being no funds to develop projects because so much was put into the DAO. This case is ethically a bit tricky so it might not be a good idea to hard fork this time if it can be resolved in a different way.
What do the users think is best? On this I'm still undecided on whether it should cause or should not cause a hard fork. At the moment I lean against a hard fork but $300 million is a lot of money and how many projects will be stopped?
If anything sinks Ethereum I think that it will be EOS. Ethereum and Bitcoin are way too slow.
I know Vitalik talked about his plans on scaling recently, but I really have a feeling that EOS will be the "Ethereum Killer".
I'm not sure EOS is actually competition for Ethereum. It's an operating system and yes it does solve the some of the problems Ethereum has with lack of secure libraries but it's not out yet and we don't know of EOS will have some bugs too. I do think though that Dan Larimer being involved indicates the code quality will be very high and also because Dan Larimer tends to select high quality libraries for his code base.
I think if people are going to do a smart contract platform a lot of care has to go into the smart contract language and it has to be designed to be as safe as possible without requiring the programmer to have God like abilities. If it takes top programmers to do even simple stuff then Ethereum will never be able to provide trustworthy decentralized authority.
Scaling is a separate problem entirely but still, they have to solve that too. I'm actually in favor of sharding and Raiden. I don't know Plasma well enough to comment but in general I think Ethereum will scale to a point but not as much as people will want. I mean to say, it will be scalable but with sacrifices (off chain sacrifices).
Very well said.
I have started working on building a couple of different coins on the Ethereum network through Mist, but I just feel like the Ethereum TPS is much too slow to handle all of the businesses that will be converting to Crypto over the next few years.
Much like the internet revolutionized the economy, I believe that the Blockchain will be even more revolutionary but transactions per second is the biggest problem in scalability that I am not quite sure Ethereum will be able to solve. Sharding is something I am in favor of as well, but as you said I think scalability of the Ethereum Blockchain will take a lot of work.
I thought EOS was going to be it's own Blockchain not just an operating system. Am I incorrect about that?
I'm guessing EOS does have blockchains, and will scale, but the innovation will be in my opinion ease of development. The one area where Ethereum struggles is there along with scaling. EOS is interesting but I cannot buy it at these prices.
Yeah @dana-edwards, I think that the current prices are a bit high for a coin/blockchain that is still in development for most people, but I definitely think there is some long term potential there. I bought my EOS at around 50 cents each about 2 or 3 weeks so I can't complain so far.
Thanks for your responses and the conversation. I am following you now and hopefully we will chat some more in the future. Keep up the good work!
I think EOS, when it launches could give Ethereum a run for its money. Tezos is already a goner before it even starts with a court case looming over the $220 million raised in the ICO.
Depends on what happens with the Tezos lawsuits but if they launch maybe not.
Tezos does indeed look like a steaming turd at this moment in time. Will be very difficult to recover its reputation. I for one certainly wont be touching it.
EOS looks a bit expensive for an unproven, unreleased project, and will have a hard time over-coming ETH's first mover advantage in the smart contract field. However, if ETH doesnt sort its scaling issues and worryingly centralized nature, then I see a future for EOS.
There is not big reason to Ethereum make a hard fork, this was a mistake from the parity wallet. This is a opportunity to learn from mistakes
All these problems are normal. Because Ethereum is a big success.
Now there must be a development and maintenance of this.
Trust in the developers to such an absolute level allows for opportunities such as this to occur. These developers could end up getting sued.
I am one of the users, you are asking.
I hardly do understand what you are talking about, but to be honest I don't have any clue about effects of your visions.
As a user I feel like abandoned in a paradox sometimes:
While blogging I feel like beeing a part of all this this shit. At another point I'm reading stuff like your's and feel like an alien. I don't have any idea how to contribute to this probably essential discussion. And I think I'm not alone with this...
No questions, no demands - just confused!
I'm a user of Ethereum too, and a stakeholder, but the point is they need to cut the BS and stop producing buggy code. If they can't even get the multi-sig wallet portion to be bug free and it's the co-founder of Ethereum associated with it? It looks bad, is embarrassing, causes loss of confidence in the project.
I have flagged your post as well as several other posts you have made. You are abusing the rewards pool.
Tell me how I'm abusing it merely by posting my take on current events?
@dana-edwards you literally made 44 posts this week. You really can sit here and say these are all good content? You will make $1,276.00 off these posts. You are destroying the rewards pool.
You are averaging 6 posts a day. You have auto votes that are supplying you with a guaranteed $25 every post. Why don't you just post blank posts and stack up the cash? This type of behavior is what will kill Steemit.
So you have withdrawn $22,057.602 Steem in the last 24 days but that's not bad for Steemit ethier I suppose is it?
You also like to upvote yourself far more then you like to upvote anyone else on Steemit. Is this another good tactic for keeping Steemit alive and strong.
In the last 365 days over 66% of your upvotes have been for yourself.
Here is a copy of my explanation for flagging your posts. You can find the original comment here:
https://steemit.com/steemit/@cmoljoe/draining-reward-pool-with-copy-paste-articles-by-dana-edwards-73-reputation-we-must-stop-it#@hendrix22/re-cmoljoe-draining-reward-pool-with-copy-paste-articles-by-dana-edwards-73-reputation-we-must-stop-it-20171108t004138387z
And if I dedicate my time to make 100 posts in a week what concern is it to you? Unless there is a rule which says we can only make a certain number of posts in a week why don't you post more in a week?
According to the rules I'm not breaking any. If I'm posting more than most this week this doesn't mean others can't post more as again the rules don't put a cap on the amount of times we can post. Now if my posts were not good quality then you have an argument.
The poster you cite only posts a few times a week and is complaining about a person who posts multiple times a day. 6 posts a day isn't really that bad actually, only slightly more than the 4 posts a day which used to be the cap but when they removed that cap it encouraged frequent posting.
When they made some of the changes I was critical of them as you can see in my blog posts if you read them. None of this is new, as Steemit has changed it's economics and rules multiple times and bloggers keep adapting to whatever the new rules favor.
Do you think the rules should be changed back and we should have posting limits? Then if people make too many comments in a day will people seek to put limits on that as well? What should the rules be?
Reference
The issue is more the auto votes which you receive regardless of the quality of the content in which you post. For example. You could make a post containing nothing but the "Letter A" and you would still receive $25.00 on the post.
This is an issue for Steemit. If you decided to create 100 of these types of post this week it would result in an even larger issue. Does there really need to be "rules" in order to not just take, take, take.
I don't see how you are giving to the community in any way?
Because you never read my posts and you've only been in the community since 2017. You say I post 6 posts a day, so why don't you try actually reading some of them?
Sure maybe not every single post I make is a hit, but not every post any blogger makes is a hit, so why expect different from my posts?
That said if you read my posts you'll see what I contributed. I did not just start posting on Steemit the last few months. To be fair, on the topic of bots, these bots always have existed since the beginning and not always favoring me.
And you're complaining about $25? Some people get $200 per post even now. Unless the posts are of bad quality, and aren't getting upvotes or triggering discussions, why complain?
If you take from within the rules then you're not breaking any of the rules. If another poster for example posts and gets $500 each time should I get upset that they are breaking the bank if they have a fan base willing to upvote them? We do have bloggers who get these sorts of payouts and I'm not one of them.
And no, I'm not going to make BAD posts purposefully just to get rewards from the rewards pool. If you actually read my posts, people comment on almost all of them, and while a few might be bad, the majority are not.
Here is a challenge for you. Find me a model blogger on Steemit who you think deserves $500-1000 a week from their effort whatever their effort is. I understand not everyone is a fan of my posts but who are you a fan of?
She is posting most of her stuff just for money. In the end I don't have anything against if she post 50 articles per day, but all of those articles can't be 25$+. That is abusing reward pool big time. She knows she is doing that, but her ego don't let her to admit that.
You post once a week if that and most of your posts are resteems. The quality of some of your best posts are lower than some of my worst, and you post a few sentences with a picture in most of your posts.
Why not post more than once a week? Just some advice.
Your draining of reward pool don't have anything with anyone including me.
I wrote few articles all in my words, not like yours 'Here is news' bs articles for money.
https://steemit.com/anarchy/@cmoljoe/anarchy-and-voluntaryism-are-our-only-solutions
https://steemit.com/freedom/@cmoljoe/road-to-freedom-series-2-the-myth-of-authority
https://steemit.com/freedom/@cmoljoe/road-to-freedom-series-5-you-are-either-slave-or-anarchist
I offered my readers a survey. You're not one of my readers but the readers can give me feedback on what kind of posts they like to see and on what they think.
The economics encourage as many posts per day as you can make. The economics favor this because back in the day new bloggers like you were making these few sentence posts and complaining about bloggers writing long articles getting $500 a post. So they flattened things out quite a bit, but as we see there are always going to be some bloggers who don't want to put in the effort and who complain.
What matters to me is whether bloggers who put in an equal amount of effort to me are getting noticed. If not then I would agree there is a problem. But a blogger who posts once a week with a few sentences cannot be shocked if they don't get noticed.
We are not talking about me. We are talking about you taking same amount of money for few sentences and reference link.
And? Is it against the rule to vote for yourself? Since when?
You have more details on my transactions than I do. But you are right, the price of Steem is going down. I can always buy back in later or is that against the rules too? Nothing I'm doing is against any of the rules and in fact the economics of Steemit (which were changed) encourage frequent posting.
Now as far as the auto-voting, no I'm not deliberately exploiting it. I post valuable content including this post which for people who don't understand the multi-sig vulnerability in Ethereum can now find out about it. Do I determine how much posts are worth? No I never did, and none of us do, as we also don't determine the price of Steem.
What we can do is follow the rules and earn according to the rules. Tell me what you suggest I should do? Stop posting so as to spare the reward pool? Should we all post a bit less so more people can earn a bit more?
References
You should save your down votes for real spam, at least @dana-edwards is a part of the conversation. I like the posts, and I just don't see the abuse angle.
This is real spam. Please see above for the "abuse angle"
They are upset because I'm posting 6 posts a day on average which some deem as too frequent and "abusing the reward pool". If the price of Steem were higher and the rewards bigger there would not be these complains but it's understandable given the situation.
Still, should I post less or stop posting merely because some other bloggers think I post too frequently when nothing stops them from posting just as often? And if the quality of my posts were truly bad then they would have a point and even I would agree that I need to improve my quality but they seem to be arguing quantity.
So what is the role of a content producer if not to generate content for Steemit? Is it bad to generate too much content too fast? Also when did it become wrong to upvote yourself? A lot of these things which people complain about always existed in Steemit and some of the stuff (like posting 6 times daily) is a result of the removal of the punishment which existed for posting more than 6 times daily.
In essence if you set up the economics so people are encouraged to post as much as they want then why be upset if people post as much as they want? You are right they waste a flag on me for doing what is within the rules.
This is the spam of all spam! 16 post in one day, all getting 25$ from auto-votes. Most of those post are only only few sentences and reference link. Spamming and draining reward pool big time.
A blogger who posts only a few times a week, a few sentences a post, should not be surprised if they earn less than a blogger posting 6 times a day, with all kinds of posts each day. Sorry but I just don't see from your blog that you are putting up the kind of effort I'm putting up each day. Your best posts aren't as good as some of my worst posts and if the quality of your posts were decent I could understand your complaints.
You don't have many followers, and your quality of posts (and quantity) is lower than mine. I don't think it's fair that you complain when you post less than once a day.- Put in the effort that top bloggers put in and then feel free to complain.
You are trying to twist this in story about me. I'm not important here. It's you taking money from Steemit from auto-votes. Your ego and money greed is stoping you from admiting the obvious.
I feel like it needs another update to happen for the price to go up or make any sort of decent move
I like your blog and I am one of your regular followers. My take on this is. Small failures for Ethereum makes successful smart contracts. Nobody said Ethereum was perfect. Mistakes are expected. And bugs will be fixed.
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STOPPretty interesting