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Title: What if... Post by: spartak_t on May 25, 2017, 12:21:34 PM Ethereum without question has a significant contribution for the current success of a lot of digital currencies (and, of course - current price of Bitcoin), but what if someone find another major flaw as they did with the DAO? Some of you may remember that about a week before DAO attack I've opened a thread (https://bitcointalk.org/index.php?topic=1504662.0) and expressed some personal concerns. One of my statements was:
Technology is becoming more and more sophisticated. I'm kinda against that, because majority of the people are not "geeks". This could be a big problem for Bitcoin (and others), since it is cryptocurrencies against fiat money "thing" (i.e. people vs. banks). Making things more hard to understand will eventually interfere the adoption of the cryptocurrencies (at least in the way we see it now, because in the future, the banks can use the technology for themselves and the ordinary guy will be screwed... again). Maybe current technologies may find its use in 5-10-20 years (who knows...), but not now... I still think we're in a bubble (link to another thread: https://bitcointalk.org/index.php?topic=1926969.0) and while I am very excited, I'm also extremely scared... Can you imagine what might happen with Bitcoin price and all these Ethereum based ICOs and crowdsales, which raised vast amount of money? Don't get me wrong - I will repeat that personally I don't care about BTC's price as long there is some stable growth. I am here for the long run (after at least next block reward halving) and I strongly believe that what we're seeing now is still nothing. Digital currencies are potential market for trillions of $ (or euro - whatever suits you). What do you guys think? Title: Re: What if... Post by: bathrobehero on May 25, 2017, 12:30:34 PM I think given Ethereum's complexity, flaws are bound to be found. Question is how severe they might be.
I am very excited, I'm also extremely scared... I feel the same. After all this time of hoping and anticipating a new ATH it's crazy just how far we bypassed it: https://i.imgur.com/CPKEwjf.png Title: Re: What if... Post by: andrew2k on May 25, 2017, 12:40:09 PM Some of us might agree with you, some might not. The true question is can we do anything about it? This continuous growth (sometimes even nonsensical, useless alts seem to pump daily for no reason) might be good but if some big alt such as Ethereum cracks up, it will take out all of its copies. People might start cashing out, therefore bringing bitcoin down.
There's a lot to say about this growth, question is when will it stop? And when it stops how big will the dump be? |
