I am curious. How will Steemit collapse on its own because it is centralized? I know decentralization very much matters to us. But kindly explain why Steemit will collapse.
It'll collapse, because it's centrally supported by the Larimers and their associates. Once the Larimers make their money and pull out, it will be over. It is structured in such a way that payouts are limited to keep the system from collapsing too quickly. The Larimers and their associates power down every week to cash out, because they know time is ticking. Even if they only cash out a fraction of their holdings before it comes tumbling down, they'll still have made millions. If I want to use a centralized website for social networking, I'll use facebook and twitter which already have mass adoption. Steem is simply an overly complex scheme intentionally designed to steal from the under-informed. Ask yourself, "If the website is centrally hosted, how do they intend on dealing with take down requests?" They don't, because they don't plan on Steem lasting this long. It's a quick money grab, and that's it. With Synereo, nothing is centrally hosted and none of the decentralized nodes in the network know what is being stored on their disks, because everything is encrypted. Node operators cannot see anyone's data without the person's private keys which they do not possess. Not only that but user data is spread on the Synereo network in a redundant manner which ensures that individual nodes shutting down doesn't affect the availability of user data. User data in Synereo is also not stored on the blockchain, which is unfeasible for long term use, but it is stored via SpecialK across multiple geographically relative nodes per the data requests. I agree that Synereo could be technically superior than Steemit/Graphene. Ok so you think that Larimer is trying to make his money quick and then leave that is why it will collapse. But let me ask you if let us say it was not the Larimers that run Steemit but some other honest person. And that honest person intends to grow and develop the network further, will it be possible for the platform to be succesful? What I'm asking is if run properly will Steemit's model be succesful even if it is centralized? |
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If this will go back below 40k satoshis, it will not be after 3 - 4 months after the whole trend. Maybe it will be even more. So if you missed this and are waiting with your buy order below 40k satoshis you will have to wait. But that is a good buy order I encourage everyone to make it and wait patiently.
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It is better for ETC followers to avoid the coin right now and wait for it to go down further. When it has stabilized, then that will be the right time to buy and be confident that the bottom has been reached.
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I have been reading about Synereo lately and I have a couple of questions. At first, I read that Synereo is something like a decentralized social network platform, something like Steemit but better according to some people. But I read recently that it is a platform capable of executing smart contracts. So what is Synereo? A smart contract platform or a social media platform? Did it pivot in the middle of the game?
From watching some hangouts and seeing what they have been talking about I think the project has expanded from its initial decentralised social media platform. I would not compare Steemit. From the rewarding of the users its similar but this is a decentralised platform with about 2 years of R&D. This means the entire network operates without a central server. So I believe this is an entirely P2P system. From what I have seen in hangouts Synereo had to build their own blockchain. I know Greg was working closely with Vitalik and Vlad from Ethereum but I think the issues they ran into was Ethereum was not capable of hosting this type of network. So they built their own POS blockchain. So I would not say a pivot as the social media is here now. (or coming soon) but the project has grown in scope. This is my take. Maybe someone can expand on this. Synereo is a fully decentralized technology stack built upon SpecialK, which Greg has been developing for years, and will soon be integrated with a PoS blockchain capable of hosting dApps with superior protection than Ethereum/DAO. The network's built in REO and attention economy model allow for an unprecedented social networking application to be built on top of this fully decentralized technology stack. The social network is only one application out of many that can run, share data, and utilize the AMP PoS blockchain cross-platform on the tech stack. TLDR: Synereo is everything you want. Synereo is everything you need. Read this for more info: https://www.synereo.com/learn-more/Ok I get it now. Synereo is a decentralized smart contract platform and the first dapp built on it is the social media application. Ok, I was a bit confused there at the beginning in what really happened. So they originally intended to use Ethereum as their base platform and they found out that it was not good enough for their needs so they created their own base platform for their decentralized social media? Is that what happened? If yes then I am curious, what did they find in Ethereum that is not agreeable to their needs and what did they do in Synereo that makes it better? #1 Once PoS is in place, you would have to be a moron to pay the $ETH gas fee when you could instead be building up your own PoS network where you own the gas fee coin. Ethereum is useful for a businesses looking to update their old contract system or for a DApp that barely uses $ETH gas in their system. It is not so useful for a social network where the complex back end contract system ends up being pretty much the entire system. You will need to have your own server running a node to use Synereo. Why not throw in your own blockchain? It seems stupid not to. Especially if you can build out a bigger network than Ethereum in the process. #2 The dev of Synereo has a bunch of legacy code built in Scala that they want a blockchain integrated into. They want the blockchain programmed in Scala. Vitalik programs in Python. I do not follow Ethereum anymore. Does anyone know what language their PoS system will be programmed in? #3 Ethereum is cool today but it will be garbage soon because solidity sucks. Synereo has a better way of programming smart contracts. They have formal verification and type checking. Ethereum has too much technical debt because of solidity. They now have to maintain solidity functionality is all their future released. BTW if you did not know this yet, the Synereo dev was hired by Etheruem to teach Ethereum how to build their PoS blockchain. That should be an easy give away as to which blockchain will end up being better. Thank you for the detailed explanation fart bags. I shall continue to follow Synereo now. I also did not know that a Synero dev is helping Ethereum drvs in their Casper POS. I heard a rumor that Casper will not work according to GMaxwell and Adam Back and Vitalik himself knows this so they think Casper will not be released. What is your comment on this? |
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Oh the wailing and gnashing of teeth that will ensue when that 30k sat buy boner is removed and this is dumped ONCE again.
rebuy target @ 38k set. See you on monday.
That is a very nice target order. All these bulltards thinking we're going to 100k and above  Not this time gentleman. Yes. Keep waiting at 38k satoshis that is a very good buy order. I speculate it will go down there in 3 - 4 months after trend reversal. Good luck with your trade. |
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ETH will go down. The holders are still very much in denial. If you are a holder it would be best to sell now before Vitalik, the Ethereum foundation and the insiders sell. It is only a matter of time before they do because the foundation will need funds soon to continue development. They are running low on money.
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Both ETC and ETH are an "avoid". There are still many things to patch and fix before we could invest in them with full confidence. After the hard fork and the emergence of support for the original chain, we do not know what will happen because both chains are now competing with each other. But for me ETH is likely more to be abandoned. No one has confidence in Vitalik and the Ethereum foundation anymore. Once they leave no one is willing to take over a corrupted chain.
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It's pretty stable nowadays. I'm buying small amounts and buying more if it goes down.
It is time to sell and only watch this. It would be a mistake to buy now because we do not anymore the future of Ethereum. Many companies are now turned of from it because of the incompetence of the Ethereum foundation. It will go through a slow collapse that have started after the hard fork. Be careful. |
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Lisk is now rising very fast. It is still good to buy right now because the price is really not that high yet. Anyway to the people who bought, how high would you predict LSK will go? Is it possible for it to go above 100k satoshis? Please speculate and explain.
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I am curious. How will Steemit collapse on its own because it is centralized? I know decentralization very much matters to us. But kindly explain why Steemit will collapse.
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Developers and cryptocurrency enthusiasts should encourage the development of Steemit. It is a way to see and observe what is done right and what is done wrong in actual practice. Calling it a "scam" and discouraging users to use it should stop. We want them to go there so that we'll see what is truly at the end of it all. I see Charlie Shrem is using Steemit.
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They are the most active coins on the altcoin market. ETH is technical dead since its a broken project. When they go to PoS it will be the final nail in the coffin and ETC holders will make massive profit. Whales are accumulating in the 30 to 35 range and it may stay like this for months. Then of course we will have the idiots that cry about missing the ETC boat when they had months to buy cheap.
Yes I speculate a sudden rise in hashing power of ETC in anticipation of parity with ETH. This will happen after the ETC hard fork to remove the difficulty bomb and fix the replay attack issue. |
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I hope you listened to the suggestion to buy Lisk. It is now rising fast. The development team has now established themselves in their new office and will now work on the platform nonstop. We might see leaps in development soon.
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Lisk is now rising. It is a good time to buy some now than to regret it later. We have missed ETH before I will not allow myself to miss this one.
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@dinofelis, it is true right? The Ethereum foundation is not doing a good job in running the whole thing. Now hindsight is always 20/20. So in hindsight they should not have made the hard fork. They only created more problems by doing so. Now ETC has a life of its own competing with ETH.
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There were rumors that GMaxwell said that Vitalik is advertising something that he himself knows will not work and therefore will not be released. He was talking about Casper. So meaning expect ETH to hard fork again removing the difficulty bomb.
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What is it with NEM that it keeps delivering the goods? I am so happy for this community that you are getting things done. From a NXT asset to a full fledged platform getting noticed and used in Asia. NEM sure has gone far from its humble beginnings. Congrats to you all. I wish I bought the NEM assets in NXT. But I was too scared to risk it.  |
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Wow, there is so much in that document. We landed on our feet with this Charles guy. He has a good understanding of Business, Computing, Communication, Psychology, Sociology, Game Theory and, the thing that tie them all together, Mathematics. I bet he can play a good hand at poker and play a couple of musical instruments too. I will need to do some in-depth analysis of this expose' but on the face of it, this bloke knows where it's at. In his proposal he mentioned that the difficulty bomb is an issue that should be talked about. My speculation is ETC will be the first one to do a fork to remove the difficulty bomb and it will also give ETC the opportunity to fix the replay attack issue also. After that it would be good for both chains now that they are truly separated and diverging in their own paths. |
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The price should not be the only one to check to see if there is interest. The hash power too must be checked regularly. I believe when true interest in ETC has taken place, the hash power will be the first one to go up in anticipation of the price going up. Miners will be there fighting for coins first before the traders realize that there is a gold rush on going.
To me, both are linked. Normally, the hash rate should be given by the price, because a miner with given equipment will mine when it is profitable to do so which will drive up the hash rate until the margin taken is not worth it any more. Of course, mining is a way to "buy coins with electricity", but I don't think the mining can influence much the price, because the volumes traded are much larger than the amount of coins mined in the same period. (this is the same argument of why from a purely offer and demand perspective, the bitcoin halving didn't have much effect on the price: the traded volumes are much higher than the 1800 coins less mined a day). So if mining cannot influence much the price (small compared to daily volume), but the price will determine the hash rate, I think that the important variable is the price. The hash rate is an almost direct consequence of it. I don't see miners suddenly increase mining to get more coins at lower market price, if they can buy them cheaper on the market, than the electricity they spend on it btw. But to me there is speculation that ETH will be the dying chain. Seeing what is happening to the Ethereum foundation now there are signs that they will disband. Where will this take the platform? Slowly the people will shift to ETC and in anticipation to this the miners will transfer ahead of the price rise because they know that it will reach parity anyway. So they mine and accumulate the coins now in order to sell later at parity. That is the logic of my argument. |
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The situation that I do not want to happen is what if the financial institutions and the government institutions come after not only Ethereum and their founders but all of the cryptosphere. They will attempt to control it and ban it that they will not allows us to take part in the world of cryptocurrencies because it is "illegal". Another question is will that stop you?
Maybe it is a good time to start learning about how to be more anonymous online.
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