Is it me or does Ethereum kind of suck? lol
I'd heard rumblings about how it's kind of centralized, not secure, deck of cards etc...
When you hodl you don't care too much. Markets can bid things up for a while, and speculating never killed anyone.
Now that I actually try using it a little...
It sucks.
Augur is a great idea, but I wish it wasn't built on Ethereum.
I was never a believer in "the flippening" or ETH as a threat to BTC or anything like that. It always seemed like a more niche thing. But I assumed it would at least function at what it claimed to be.
Turns out, using it is kind of a mess.
Tx fees (or "gas" prices) are high, first of all. Like $0.50-$2 usually, and I'm not sending big bucks. But more than that, your transactions often don't go thru.
It's like a guessing game of whether or not you put enough gas.
Either you can risk paying something absurd like a $60 (nearly 100%) transfer fee, or you manually put a more reasonable limit on it (of $0.50 or $3 or whatever seems like enough according to data that you can find on websites like "ETH gas station"). And then what happens is it tries to execute the transfer but often just runs out of gas and doesn't go through.
And correct me if I'm wrong, but looks like you still end up paying the gas even when it doesn't go thru??
It's just awful, to actually use these ERC20 tokens. I have like 4 in a row right now that didn't go thru, and basically am done coughing up money on it for now.
I say that with all caveats of recognizing that I'm a noob with it etc. But I remember using Bitcoin for the first time when I was a noob (to all of crypto), and it always felt intuitive. Steem too for that matter.
You can look at your transaction history in a Bitcoin wallet, and it's a clean list of transfers in and out. In an Ethereum wallet it's like a graveyard of all your different attempts and failed transactions.
So maybe I'm screwing something up or Ethereum network is going thru congestion or something. I don't know. But my gut feeling is that it kind of sucks.
Even if I fine-tune a way to transfer a little more cleanly, it's kind of like.. why should I have to? Why would it need to be a science project to figure out how to do it? Why would this even be a possible user experience?
It just doesn't feel intuitive or like this is a real thing that will be the future of anything to me.
Ironically (or I guess not ironically?) I'm trying to play a market that bets against the price of ETH. But ETH is too lousy to execute the transaction 😆
Yup, I've had the same trouble with ERC-20s. I've been trying to get rid of my cryptokitties for a while now and so far only thing I've managed to do is waste more ETH on gas. Plus a lot of friends also have the same problem, even down to simple conversions on exchanges.
I had to check the comment section cos I was certain we'd have some EOS commentaries haha. Any criticism to ethereum automatically generates that, which is why I admire/am awed by the fact that you didn't mention anything about it up there.
See thats what I love most about your blog is that you always write with this sincerity that just shows how passionate and real you are about the things you believe in, and how you always manage to convey clearly that THATS why you're writing about them--not to troll or promote or chastise or whatever, but because thats how you TRULY feel.
re: EOS, I got nothing against EOS, and @dan's a genius but obviously they set some really LoFTY goals, and they certainly talk the talk. It is of course in the favor of all cryptos if they do succeed, so fingers crossed. But until then, calm dafuq down, people, haha.
Cheers, bro.
PS. I read everything. I might not comment but I read everything haha. xD.
Don't know about Ethereum but I know it has a lot against it - the transaction problem for one. I mean, it's one of the things EOS is riding on.
Speaking of which, what do you think about EOS?
I still don't think any coin can prove to be a formidable threat to bitcoin. While it's conceivable, bitcoin has a lot going for it. But the number two space for now belongs to Ethereum
hey gray!
I don't know enough about EOS to really have an opinion. The hype felt strong if nothing else and I probably regret not buying cheap. Going forward, just no idea at all.
In general I feel like it's hard for buying Bitcoin instead to be a big mistake.
And my other rule is that if you're doing something with the tokens, then that's a good nod in its favor. So I guess for me it would depend how EOS works and if there's something that I want to use the tokens for.
Hopefully it all works out and has some cool apps on it! I don't really have any idea what to expect from it tho. ::shrugs::
Man, I'm 100% onboard as always lmfao. I moved some ETH around this week from one wallet to another and had to wait over 3 hours and 150 or so confirmations before it showed up in the newly delivered wallet. They better figure out how to scale soon or people will bail. (Note: This too, was not a large sum of money being moved so no excuses in my book.)
ya!! It's funny to me that Ethereum being the "better technology" and "actually useful" turn out to not seem so true lol
Like anyone who would say those things I think just wasn't appreciative of what bitcoin is, it's an apples and oranges comparison, like "ooo look at me I can fly", and then it's like "ok? I wasn't trying to fly.. I don't need to".
So it was silly in the first place but then it's worse if you can't even actually fly.
I've never been in the ETH > BTC club but I know many that were and are. Great analogy. There are a lot of good projects out now, I still believe STEEM has so much promise and hope that 2019 is a great year for its adoption and advancements .
yaaa.. like using Steem as an example just to really complete the point, if someone said Steem is better than BTC, it'd be the same kind of thing where it's apples and oranges and hard to compare..
but at least Steem is actually good, lol. Steem would at least have something behind those claims, if someone said it's better technology and that it's more useful, you could at least see what they mean.
Ya I know some ETH types too..
I think it's easier to go down that path if you don't come from a principled/Austrian type of outlook. I imagine some people don't really appreciate the point or the impact of Bitcoin. So then something that seems fancy and is also calling itself a blockchain.. must just be better
STEEM is the dark horse everyone is missing.
What's the biggest problem with crypto? Adoption!
Steem actually has real users using it as a social network. Not just bag holders waiting for price rises.
Can I go and buy a coffee with my bitcoin? Can I use it while traveling to avoid Forex conversions? Nope
Do I post regularly and read what people post in steemit just like any other social network? Yes!
Its all about EOS!!!! so much better than ETH. Transactions always go through free :)
ya!! haha. I was aware of the ETH vs EOS dichotomy as I wrote this, but didn't want to mention anything, because I don't want to come off as pumping EOS and like that's my motivation here. Don't know enough (anything really :p) about EOS.
But ya..
If I had realized how lousy ETH is I probably would have been more likely to get on the EOS train when it was still cheap.
it still is cheep :). There are some good projects coming or are very early stage.
hehe ya I hear you ,, it's already the 5th highest crypto tho 😮
but ya, if it were to go flippening on ETH, that's still a 7x increase. so you might prove to be right. I get pretty stingy when things are in the top 10 :p
its got a long way to go before that can happen. maybe couple of years from now
Well obviously ETH has still way to go. That might be one of the reason people are not jumping on the train just yet. I personally don’t make much transactions, I just hold and sit tight. Even in today’s market which completely sucks. Anyway, if we go lower I start buying.
Ya, I always just held and didn't transfer too. If you start transferring you might decide to hold less of it :)
But ya, as I type that I'm still not rushing out to sell my ETH. This is all such unknown waters, and even just getting the "not a security" blessing from the SEC could give it a ton of life as far as speculation goes. So I don't know.
But I definitely have kind of a different attitude about it in my mind now, and probably will be more inclined to sell when there's a spike than I'd feel before.
I appreciate that it's still early, and I'm not an expert with these technicalities, I'm just not sure how correctable its suckiness is. It feels really awful to use, like a problem that Bitcoin and Steem never had even when they were brand new.
for my ethe it does not reach the heels of bitcoin in the sense of the transaction that I have already registered in several token ERC20 the pages says that they sent me the payment, but the payment never arrives at my ethe blockchain wallet.
ya!! it seems surprisingly shoddy. I remember trying to buy into an ICO once and had probably a similar issue, like it seemed to send but then didn't send.. and I'd try again, and same thing. (it was probably some kind of scam nonsense anyways lol.)
at the time I think I assumed I did something wrong.. now I'm learning that ETH just kind of is like that haha
(not trying to hate or FUD.. I have nothing to gain by talking down ETH.. just disappointed by it)
cheers @bidbots!