ETHEREUM WARNING (Opinion)
Taken from another site, interesting opinion:
Two obvious red flags:
- Bill Gates is pushing it
- Its symbol is a pyramid over a Freemasons compass
What's it about? Most people think Ethereum is just another crypto-currency.
It's not, but it does use its own crypto-currency called Ether.
Ethereum is a block-chain based system for distributed software. There are some seeming advantages in that the programs written in it aren't located on a single server, so there's no 'middle-man' through which your interactions pass or can be stored/abused.
The problem is that it costs Ether to run any Ethereum code - even a single line! That means every service or platform on the internet that is written in Ethereum will cost you to use.
NO MORE FREE INTERNET.
They say, wow, anyone can write an application and get paid Ether when ever someone uses it. And it'll cost spammers a lot of money. But people who write useful apps already get paid. And newcomers can offer free versions to break in. That all ends under Ethereum.
It is an attempt to monopolize the internet by the big software producers. That's why Bill Gates is pushing it, and it will force users into Ether, which will become the dominant, global currency as a result. Without Ether, you won't be able to function on the internet.
Be scared.
We'll, that's my opinion, but I could be wrong. Anyone see any problems with that argument and sees benefits to Ethereum?
I wrote an article that is thinking along the same lines as this... please check it out: https://steemit.com/cryptocurrency/@ericarthurblair/is-ethereum-a-trojan-horse
Interesting and scary. I own a few but thinking it went up too fast it scares me. Usually comes down just as fast!
Interesting post that diverges off the path of the common line of thinking. I'm sure that there are problems with many technological advancements. I'm not sure why Bill Gates wouldn't want to promote Stratis instead of Ethereum though.
Indeed that this post from @tomm actually sheds a different light on the Ethereum platform, and not a nice one. With that in mind, I can only start to think about what's about to come... for now, followed @tomm for more content like this.
Best regards,
@lifewithcrypto
Its always good to be skeptical, thank u. Dash for the win! Fees non existent
I don't like ETH either. I think the only reason they forked is because they already knew they were going full PoS and didn't want the hacker to have so much power. And yeah, Bill Gates and JP Morgan backing it is a huge flashing red sign.
crypto conspiracies . . .
I think there's a bigger issue with the Bitcoin hard fork. Segwit will help reduce the blockchain processing time in the short term, but Bitcoin Unlimited is an attempt at a longer term approach . . .
However, once all the bitcoins are mined, BU will give miners control over transaction fees. What will be the incentive for miners to continue running nodes and supporting the blockchain without making more money?