Ethereum discussed in Let's Talk Bitcoin

bcurdy

Just finished listening to Episode 112 of Let's Talk Bitcoin. They've spent a good chunk of time on Ethereum compared to other projects such as Metacoin or Bitshares (it was supposed to be an overview of each project but Ethereum ended up being the center of attention).

I thought it was very informative and balanced. Hosts did a good job asking the tough questions about Ethereum too, discussing transparency, technology and distribution.

You can listen to it at:
http://letstalkbitcoin.com/blog/post/ltb-112-metacoin-microcosm

Jasper

All the talk about the market deciding things.. People decide things, it becomes apparent through the market. I mean, if you look at the market for your decision, that is circular. It is simply about what is fair, how much you feel Ethereum pushing development of contract is necessary, and how much you trust us. Or the code that the Ethereum DAO/DO consists of. Needless to say, i have doubts about Schellingcoin in many cases.

About the fairness, well what did the early miners do to deserve it? It isnt necessarily fairer.

The 'division of labour' idea of mining seems silly.. Division of labour increases the chance of 51% of mining power being concentrated, because it concentrates it. Anything to decrease division of labour is better, only if it increases the chance of breakage can it be worse.

avsa

I like Stephanie's points on how she is skeptical because "they are going into conferences and promising they'll change the whole fabric of society". Yes, it oversells the hip,e, but in the other hand, isn't the best evangelists those who believe deeply in the project?

It's unfortunate that there's this entrenched idea on the crypto community that mining is somehow the only fair way to distribute a currency, that the only way to compensate early adopters is by exponential valorisation of the coin and that paying for any other kind of work is scam.

StephanTual

@avsa - It's ethereum's potential for 'changing the fabric of society' that is what attracted me to the project in the first place. If it had been another altcoin, I would declined an invitation to join. I'm very comfortable with that.

avsa

@Stephan_Tual‌ I doubt I would be coming back here everyday if I wasn't expecting it to change the world too. So let me check the subreddit again to see if the revolution started or not.

Jasper

Anyone can be as skeptical as they want of course, tell us, if it words well 'Some of 'changing how society works' is just putting a useful things out there, but lots of it is more aspiration than a promise! I think maybe her worry is a little diffuse and not well defined, but the future is that way too. It is important to figure out what/how to build and explain why, and it is good to have people that will consider those things critically.