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Why Ethereum Will Fail 2017

Is Ethereum Going To Fail Bitcoin?

Is Ethereum Going To Fail Bitcoin?

hi i hear everywhere ethereum is greater than bitcoin and the future of everything. do you agree? It's a new network. "The nature of Bitcoin is such that once version 0.1 was released, the core design was set in stone for the rest of its lifetime." -- Satoshi Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here. Quote from: ayurvedicurea2growtaller on June 23, 2017, 04:31:47 PM hi i hear everywhere ethereum is greater than bitcoin and the future of everything. do you agree? It's a new network. IN BOLD - where ever you heard or read that from, it is a blatant lie. That is like a present affirmation that Ethereum is greater (HOW?), as far as I am concerned, they are incomparable (It is like an insult to Bitcoin presently) although I must say that if Bitcoin isn't careful, it may loose its spot as there are cryptocurrencies now with more and better features than bitcoin, but what I don't know is how they will fair if they experience thesame massive tx like bitcoin. Like I read on a post that the only advantage bitcoin has now is the FIRST MOVERS ADVANTAGE! Future? I have no idea cause I ain't God but I do not agree one bit that Ethereum will surpass Bitcoin and if it does eventually? I leave my decisions till then! Quote from: ayurvedicurea2growtaller on June 23, 2017, 04:31:47 PM hi i hear everywhere ethereum is greater than bitcoin and the future of everything. do you agree? It's a new network. yes, ethereum is a new fail network before bitcoin ever do. ethereum is greater because it fail faster. then in the next few years if you ever want to use and have eth wallet you would need a 5tb hard drives and wait about a year to download it. i scam no one and the scammers don't like me. trad Continue reading >>

Ethereum Founder Says 90% Of Token Startups Will Fail

Ethereum Founder Says 90% Of Token Startups Will Fail

Ethereum Founder Says 90% of Token Startups Will Fail Ethereum co-founder Vitalik Buterin reckons that nine out of ten token startups are doomed to failure. While widespread experimentation with tokens is a good thing, the current reliance on ICOs could prove problematic going forward. Vitalik Buterin knows a thing or two about how to launch a cryptocurrency. At 23, the co-founder of Ethereum is widely considered to be an expert in the field, having written about the subject extensively before diving in and developing his own platform.However, Buterin is realistic about the prospects of the vast majority of initial coin offerings. Speaking at the ETHWaterloo hackathon earlier this month, he stated it should be an established fact in the cryptocurrency industry that most token startups will fail. Buterin estimates at least 90 percent are doomed. There are some good ideas, there are a lot of very bad ideas, and theres a lot of very, very bad ideas, said Buterin, speaking as part of a panel on decentralized technology . And quite a few scams as well. This isnt necessarily such a bad thing. Buterin explained that while the current first wave of tokens will soon give way to an improved second generation, those tokens that emerge in 2018 and 2019 will be better, simply due to experimentation that is going on right now. Still, the thrust of Buterins remarks was that the plenitude of ICOs could pose a problem for the continued health of cryptocurrency as a whole. Of course, his comments about token startups dont refer to a situation unique to that market. His estimate of a 90 percent rate of failure is based on the fact that 90 percent of startups, across the board, never see success. ICOs can rack up some serious funding, often for a technology thats completely unproven. In J Continue reading >>

Cryptocurrency Market Will See Crash And Then Consolidation, Ethereum Co-founder Says

Cryptocurrency Market Will See Crash And Then Consolidation, Ethereum Co-founder Says

The cryptocurrency market will strengthen after bitcoin alternatives that lack substance have failed, a former chief executive and co-founder of Ethereum said. "My personal opinion is that we're going to see a consolidation after a crash," Charles Hoskinson told CNBC in an interview Friday. Hoskinson now runs blockchain research firm IOHK, but was previously in charge of Ethereum, which develops the underlying technology for the cryptocurrency ether (also known as ethereum). A number of alternative cryptocurrencies including Cardano, a cryptocurrency overseen by Hoskinson's company have rallied substantially in recent weeks as investors look beyond the most prominent cryptocurrency bitcoin. Ripple's XRP, for instance, temporarily overtook ether as the second-largest cryptocurrency in December. Blockchain, the technology that underpins cryptocurrencies, records all transactions of a digital currency on a dispersed network instead of one centralized server. Meanwhile, a slew of lesser-known digital tokens have surged to unprecedented levels over the last few weeks, sending the total market capitalization of all virtual currencies up to three quarters of $1 trillion. But Hoskinson raised concern about "unrealistic" cryptocurrency projects entering the space. "What's going to occur is a lot of these ventures that don't have strong fundamentals, don't have good tech, or just unrealistic projects, they will eventually run into some major wall they can't quite overcome. They will fracture up and you will see a lot of them are certain to fail." But the entrepreneur added that many of these cryptocurrency projects might not fail any time soon as they have enough funding behind them to sustain themselves. "The problem is a lot of them have a lot of money," Hoskinson said. "It's Continue reading >>

10 Reasons Why Bitcoin Will Fail

10 Reasons Why Bitcoin Will Fail

For people outside of the complex and exciting world of cryptocurrency, Bitcoin can be hard to understand. Many have brushed it off for years, saying that it was a fad that would disappear as quickly as the value of Beanie Babies. However, with the price spiking in the thousands of dollars for a single Bitcoin, naysayers are suddenly singing a different tune. Newcomers are dumping their money into Bitcoin, hoping that the price will only continue to grow. Many old-school investors who havent done their research will simply say its in an economic bubble and call it a day. But the reasons why Bitcoin cannot succeed in the long run go so much deeper than that. Just like any other speculative asset, no one really knows what is going to happen in the future. However, when one looks at the big picture, it becomes clear that Bitcoin will struggle to survive. The most valuable thing about Bitcoin is that it introduced blockchain technology to the world. Blockchain technology drastically improves the speed, privacy, and security of sending money. Bitcoin can be sent from one person to another without a middleman, and it encrypts everyones identity to a long string of letters and numbers called a wallet. Blockchain is a big deal. Its potential to change technology is as big as the Internet . At the moment, the world of blockchain is young and exciting, like the Wild West of the digital world. However, even though Bitcoin was the first to introduce blockchain to the world, its not necessary for blockchain to exist. Sort of like if one web page goes down, the Internet still exists. Most people never saw the very first website that was ever created. It was a blank white page that was titled World Wide Web and a list of text links. Thats it. [1] No one could have ever imagined that Continue reading >>

Ethereum Vs. Bitcoin: Which Is The Better Second Half 2017 Investment?

Ethereum Vs. Bitcoin: Which Is The Better Second Half 2017 Investment?

Ethereum vs. Bitcoin: Which Is The Better Second Half 2017 Investment? The Battle of 2H 2017 Price Supremacy Between Ethereum vs. Bitcoin Will Be Decided in the Technical Trenches Ethereum vs. Bitcoin . Its amazing were even pondering the question about which cryptocurrency will see the better 2H 2017 returns. At the end of 2016, Ethereums currency token ether (ETH) was trading around $8.00/ETH,near the bottom of a range which peaked over $15.00/ETH. Meanwhile, Bitcoin (BTC) was trading in the ballpark of 100 times ethers price, onthe cusp of a new major up leg.Both were in two different leagues. But Ethereum has since exploded onto the scene in 2017, vying with Bitcoin for crypto supremacy. Which becomes the better 2H 2017 investment will depend less on sentiment this time around, and more on technical inner workings which make both cryptocurrencies tick. Specifically, the inner workings in which I speak of involve the much-anticipated result of Bitcoins core software upgrade on August 1, 2017. This is the so-called user activated soft-fork (UASF) deadline, which is fast approaching. The reasons for the upgrade trace back to Bitcoins origins. At the beginning, daily average Bitcoin transactions totaled in the hundreds, then the thousands.At previousrates, Bitcoins 1MB maximum block size could reasonably handle the volume of transactions is a respectableamount of time(although this was still measured in minutes, as opposed to the seconds most retail consumers are accustomed to). But as popularity exploded, so have transaction processing times and fees. Bymid-2017, daily average Bitcoin transactions total around 350,000 and payment confirmation times are becominguntenable. On April 24, 2017, they surpassed 24 minutes, and its not uncommon for confirmations to take over Continue reading >>

The Coming Cryptocurrency Crash -- And Why It's A Good Thing

The Coming Cryptocurrency Crash -- And Why It's A Good Thing

The Coming Cryptocurrency Crash -- And Why It's A Good Thing {{article.article.images.featured.caption}} Opinions expressed by Forbes Contributors are their own. The author is a Forbes contributor. The opinions expressed are those of the writer. This story appears in the {{article.article.magazine.pretty_date}} issue of {{article.article.magazine.pubName}}. Subscribe People used to say that when taxi drivers started talking up stocks, a crash was coming. Today, its Uber drivers. Last week, two of my Uber drivers on two continents discovered I was a professor of innovation (they asked) and immediately shared stories of rapid riches. The objects of their desires were cryptocurrencies based on blockchain such as bitcoin and ether. More appear every day. One UBERian explained that his favorite version, billion coin, couldnt go down because of a special methodology. Im sure its a special methodology that never goes down until it does. (Rather than challenge his logic, I suggested he sell enough to recover at least 100% of his original investment.) Be clear, billion coin is no bitcoin. Bitcoin, ether and others are real. These methodologies have a powerful future in our global financial system, though no one can predict what that will be. We can, however, confidently predict there will be casualties. The good news is lots of experimentation, discovering new stores of value and value exchange (not to mention blockchain applications beyond currencies; note the work of John Clippinger ). The New York Times reported recently that entrepreneurs are creating new digital currencies to rapidly raise funds for early-stage ventures. So-called Initial Coin Offerings enable entrepreneurs (or scammers) to raise large sums of money without dealing with the hassles of regulators, investor Continue reading >>

Vitalik Buterin: 90% Of Icos Will Fail

Vitalik Buterin: 90% Of Icos Will Fail

At the ETHWaterloo hackathon held in Canada and judged by representatives from companies including Coinbase, Consensys, Slock.It and Augur,Ethereum co-founder Vitalik Buterin stated that 90 percent of initial coin offering (ICO) projects or ERC20 tokens launched on top of the Ethereum protocol will likely fail in the long-term. It is an established fact that ninety percent of startups fail. And it should also be an established fact that 90 percent of these ERC20s on CoinMarketCap are going to go to zero. Buterin has previously emphasized that he considers the centralization of development in ICO projects as a serious flaw in many ERC20 token-based projects. While the Ethereum blockchain, the base infrastructure which supports the ERC20 token standard is decentralized, ICO projects are conducted by a closed group of developers, or in many cases, companies funded by venture capitalists. In the current phase of development, which Buterin described as tokens 1.0, Buterin explained that the market and investors should expect the majority of projects to be very bad ideas. many of which are not viable projects, or lack working software.Meanwhile, there are already several decentralized applications built on top of the Ethereum protocol such as EtherDelta which are already succeeding commercially, having not had to raise money by conducting an ICO. Evidently, it is challenging for developers to be incentivized for creating, developing, and sustaining decentralized applications without ICOs, or a reserve of capital. But, earlier this month, Buterin expressed optimism towards EtherDeltas business model, which allocates a small fraction of trades (0.3 percent) as rewards to the developers who maintain the platform. This, basically, is tokens 1.0. There are some good ideas, there Continue reading >>

Ethereum Is Doomed Why The Ether Cryptocurrency Will Fail In 2018

Ethereum Is Doomed Why The Ether Cryptocurrency Will Fail In 2018

Ethereum is Doomed Why the Ether Cryptocurrency will Fail in 2018 Ethereum is Doomed Why the Ether Cryptocurrency will Fail in 2018 After languishing from May 2017 onwards at approximately $300 per token, Ethereum, the closest Bitcoin blockchain competitor is once again heading for a bull run. In the past 24-hours alone, over $1 billion has been traded over the Ethereum network. What is more, this has led to a $65 increase in the value of ETH tokens, with the current price sitting at $362 per coin. Naturally then, Ether cryptocurrency advocates are more than happy, especially in light of suggestions that ETH could soon test a new all-time price high of $420. The only problem is that anyone currently investing in ETH simply cant be in full control of their own mental faculties. Ethereum is Doomed ETH is in a Bubble & it Will Burst To understand why Ethereum is doomed, one only needs to look at how the Ethereum cryptocurrency as we know it came to exist in the first place. In June 2016, the original Ethereum blockchain suffered a catastrophic hack which saw millions of dollars in Ethereum tokens stolen by a presumed rogue insider. What is more, as reported by Coindesk later in October 2016, at least $100,000 associated with the then Ether hack was later successfully exchanged into Bitcoin. Where things get really startling, however, is when one looks at what happened with Ethereum (then Ether) immediately after the June Ether Bitcoin heist. ETH blockchain developers, after all, didnt overhaul the security of the blockchain, nor put in place new cybersecurity countermeasures. Instead, the then Ether community simply decided to fork the Ether blockchain and erase all record of the June hack from the new Ethereum blockchain which people know and use today. ETH Holders Need Continue reading >>

Ethereum Founder On Icos:

Ethereum Founder On Icos: "we Are In A Bubble, A Lot Of Projects Will Fail"

Ethereum Founder on ICOs: "We Are in a Bubble, A Lot of Projects Will Fail" By Nathan Reiff | September 12, 2017 9:43 AM EDT Hydropower: The Key to Bitcoin Mining in the Future? When it comes to the cryptocurrency and blockchain worlds, few figures draw as much rapt attention as Vitalik Buterin. The founder of ethereum , the second-largest cryptocurrency by market capitalization and the revolutionary platform which has allowed for initial coin offerings (ICO) to dominate over the past year, commands a great deal of respect among industry followers, so much so that false reports of his death prompted major plunges in the digital currency marketplace . Now, Buterin has words of warning for investors in the ICO area: he suggests that ICOs are a bubble waiting to pop, and that the current trend of largescale token sales is not sustainable. Buterin remarked on the ICO craze during a trip to Israel in order to meet with local cryptocurrency and blockchain tech companies and investors. According to Finance Magnates , the ethereum founder indicated that "it would be a mistake to underestimate the value of ICOs or to say that they are a bad thing. ICOs are interesting because they enable monetization for open source projects...what we are seeing lately is that people are taking this idea too far, and there are projects that issue a coin not because it makes sense to issue a coin but because they have a product they can sell and raise money. Without a coin there is no business model. This creates the imbalance of incentives in the community at the moment." Buterin continued, "I indeed think that we are in a bubble because all the cryptocurrencies are rising and people have a feeling that they will always continue to rise. A lot of projects are raising more money than what they w Continue reading >>

$1b Lost: The 5 Biggest Cryptocurrency Fails Of2017

$1b Lost: The 5 Biggest Cryptocurrency Fails Of2017

$1B lost: the 5 biggest cryptocurrency fails of2017 2017 was been a stellar year for cryptocurrency valuations in general and Bitcoin in particular. On 1 January 2017 the USD$ value of a Bitcoin passed USD$1,000 and one year later on 1 January 2018 the price was USD$13,700. On 17 December 2017, Bitcoin reached an all time high price of $19,783 . But it hasnt been plain sailing for the crypto ecosystem with a number of security breaches and exploits in 2017 showing how vulnerable operations can be to malicious actors. The total value these hacks and fails on 1 January 2018 prices is just shy of USD$1 billion, an eye-watering USD$978M. Amid all the excitement of prices soaring, the opportunity cost of cryptocurrency theft is significant and it is worth looking back over the following multimillion dollar hacks and failures as we go into the new year. In July 2017, I wrote about Coindash , an Israeli based company, which ran an ICO to fund the development of a social cryptocurrency portfolio platform. Unfortunately, the Coinspot website was compromised, likely well before the ICO, and those responsible made code alterations which randomly changed the Ether address where ICO participants were contributing funds (switching between a legitimate address and a fraudulent one). As a result of this hack, more than half the funds being raised in the ICO were diverted to a rogue Ether address. The ICO was suspended while the rogue address was removed. The total amount stolen was then USD$7.9M in Ether, worth approximately USD$31.5M on 1 January 2018. Despite these troubles, the value of CDT, the token issued, was 4 times the issue price on 4 January 2018 . The lesson from the Coindash hack is that close attention to detail for all aspects of security are needed when running an ICO. Continue reading >>

Why Blockchains Fail And Decentralization Succeeds

Why Blockchains Fail And Decentralization Succeeds

Why blockchains fail and decentralization succeeds Image Credit: Background image: Pushish Images/Shutterstock With all of the excitement around blockchain technology, its easy to think what we have now is the foundation for the next wave. Yet, its worth remembering we are still in the early stages. The blockchains we have today probably wont be the blockchains of tomorrow. I am still bullish on Bitcoin (for reasons that go beyond this post), and Ethereum looks promising. It also has a lot of technical questions that surround it. As Muneeb Ali of Blockstack said, At scale, Ethereum is designed to fail though he was quick to add that theres always room to make changes in the future. He didnt mean, it will intentionally fail. However, if you think about the nature of blockchains everyone has a copy of the ledger (with all the storage space that entails), which these days is about a 100GB download. Furthermore, in the case of Ethereum, ever more third-party applications and sub-economies are being launched to run on top of it, and all of that code runs on the distributed network too. So it makes sense to start asking questions. What happens when everyone puts all their data and contracts on Ethereum? Wont the blockchain size get SO big that only the biggest computers can run it? If that happens, wouldnt we have a centralized system susceptible to control, thereby defeating the very purpose of blockchains? In industry jargon, this problem is known as blockchain bloat. Many people see it as an existential threat to the mass adoption of blockchain technology, even though Ethereums creator, Vitalik Buterin, isnt one of them as he explains in this (long) post. So, with that in mind, lets look at two interesting alternatives Ive come across that try to address this issue. Like Continue reading >>

Top 5 Reasons Why Ethereum Will Fail Maybe

Top 5 Reasons Why Ethereum Will Fail Maybe

Also read: Bitcoin Price Is Volatile, But Still Look out for $3500 The Ethereum network is incredibly congested at the moment, thanks to transactions from ICOs filling up the blockchain. ICOs have become the number one way to raise funding for blockchain projects and Ethereum is the number one platform for hosting ICOs. Therefore, with all the blockchain traffic coming from ICOs, there isnt much room for any other Ethereum transactions. Because of this congestion, traders have had a hard time getting their transactions through running into incredibly long confirmation times. As a result, people have started losing confidence in Ethereum. In an opinion piece on CryptoCoinsNews, one writer raised the question: is it time to look for a new ICO platform? If developers cant find a long-term solution to the transaction backlog, the author opined, an alternative will be necessary. Aside from ICO fundraising the legitimacy and practicality of which remains questionable to many Ethereum has no promising use cases. Sure, enthusiasts have come up with all kinds of scenarios in which Ethereum could be used to replace or improve the current financial infrastructure. However, most of their theories seem like they would complicate things rather than simplify them. For a technology to become mainstream, it has to make an aspect of life simpler, not unnecessarily complex. And when those impractical ideas fail miserably, they become even less useful. Take the DAO, for example. This 2016 project by Slock.it was a highly complex way of decentralized project funding. Many questioned whether it was necessary, and if it was better than ICOs or traditional VC funding rounds. Then the whole project exploded when a hacker exploited a security vulnerability in the DAO code, and tens of millions Continue reading >>

2017 Was Bitcoin's Year. 2018 Will Be Ethereum's

2017 Was Bitcoin's Year. 2018 Will Be Ethereum's

2017 Was Bitcoin's Year. 2018 Will Be Ethereum's Dec 27, 2017 at 12:45 UTC|UpdatedDec 27, 2017 at 20:58 UTC Jez San is CEO of FunFair Technologies, an ethereum-powered casinoplatform. A vocal supporter and critic of blockchain technologies, San wasalso a pioneer in real-time, 3D games. The following article is an exclusive contribution to CoinDesk's 2017 in Review series. As a long time investor in bitcoin and cryptocurrencies, 2017 has been remarkable. But it's important to remember, this is really just the beginning. Despite the valuations, major protocols remain deficient in delivering value to users. Bitcoin with it'shigh fees and slow transaction times is hardly suitable for payments - spending the same fee whether you buy a coffee or send $100,000 is a joke and thepromise of scaling solutions such as the Lightning Network hasn't been fulfilled. Suffice to say, its new positioning as a store of value is precarious, even if,judging by the huge uptick in bitcoin price, the store of value narrative is winning for now. While there's no shortage of old and new believers to keep the party going, along with plenty of developers working to create better, forked versions of bitcoin, I'm betting my chips on a more flexible alternative. The door is wide open for blockchains that use smart contracts , like ethereum, and I believe their potential market dwarfs that of "store of value" chains. Platforms like ethereum are an operating system for decentralized finance and commerce. Think of bitcoin as DOS and ethereum as Windows or Mac OS. There is nothing wrong with DOS. It came first and was an essential part of the computer's success. Us geeks grew up on DOS, but computers only went mainstream when Windows and Mac OS appeared.DOS is difficult to learn, tricky to program and fe Continue reading >>

Don Tapscott: Ten 2018 Predictions From The Co-founder Of The Blockchain Research Institute Quartz

Don Tapscott: Ten 2018 Predictions From The Co-founder Of The Blockchain Research Institute Quartz

A year ago, Alex Tapscott (my co-author of Blockchain Revolution) and I made some predictions for 2017. At the end of the year we compared those predictions to what had actually occurred. Overall they stood up well. Notably we said: Bitcoin will hit $2,000 (thats right: one bitcoin will be worth $2,000). Ethereum will not collapse, post-DAO, but will become a dominant platform for new apps and new business models. We were ridiculed by some for forecasting that bitcoin would nearly triple in value. You guys are nuts, was a popular tweet. Of course, only in the wild world of cryptocurrencies can you set a one-year price target implying a near 200% return, and miss the mark by a factor of nearly 10! As for ethereum, the fork happened and ethereum kept on chugging away, became the de-facto platform for the ICO ( initial coin offering ) boom that launched a thousand Dapps (distributed applications), from distributed file storage and prediction markets to collectible kittens. 2017 was a year when cryptocurrency markets dominated the public imagination. While some of us grew excited by the explosion of new applications, platforms and technologies being launched, many others were simply happy to ride the wave of higher prices. Indeed, the value of these assets grew from $15 billion to $500 billion, one of the great bull markets of our time. Is this justified? Valuations today reflect tomorrows valueand tomorrows value could be significant and revolutionary. So, taking the market as a whole as the best representation for the future value of blockchain technology, todays value could be argued to be conservative. However, its hard to look at the dizzying price escalation of virtually every cryptoasset, and the euphoria driving the market ever higher, and not feel some vertigo-ind Continue reading >>

Why Most Ico's Will Fail: A Cold Hard Truth - Blockgeeks

Why Most Ico's Will Fail: A Cold Hard Truth - Blockgeeks

In this guide you will learn why mostICOs Will Fail.. On June 12, 2017, an Ethereum based called Bancor held its ICO . It raised $153 million in 3 hours. No, you are not reading it wrong, 153 million..in 3 hours!!! If that doesnt get your brain melting, then how about this? The BAT ICO $35 million in 30 seconds!!! Thats near $1.2 million per second! And if that still doesnt get your jaw dropping, then how about this? Have you heard of UET? UET had an ICO which raised $40,000 in just 3 days. Admirable if not particularly mind-blowing. Why do we bring it up after talking about Bancor and BAT? Well, UET stands for Useless Ethereum Token , it is a joke coin. Here is the sales pitch that they used, UET is a standard ERC20 token , so you can hold it and transfer it. Other than that nothing. Absolutely nothing. And they raised $40,000 in 3 days! Welcome to the crazy world of ICOs! There is no doubt that ICOs have changes the financial landscape over the past 2 years. In the first half of 2017 alone they raised over $1 billion! However, all these insane success stories tend to make us look at facts with rose-tinted glasses. The fact is, that around 99% of all ICOs out there will fail. And thats not exaggerated doom and gloom, over the last few years, thousands of cryptocurrencies have been created and over 90% of them have failed. And the fact also remains that given the insane success of most ICOs, scammers are flooding the market creating bogus dapps/coins to get their fill of the ICO pie and effectively create an ICO bubble. So, keeping all this in mind lets aim to answer this simple question: Why are most of the ICOs going to fail? Before we continue, we want to make something very clear. We dont hate on ICOs. We believe that ICOs are truly revolutionary and will continue Continue reading >>

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