@cobordism @hyc @voxel IMHO the only thing that moving #Ethereum from #PoW to #PoS achieved is raising the wall to make it harder, more expensive amd less attractive for #SmallInvestors to fiddle with it.

• #NotFinancialAdvice but I would've always disrecommended that espechally after #Buterin et. al. decided to #Backroll due to them and others having been #HornyForMoney and wanting to pull funds from #TheDAO.

Demondtrably, #EthereumClassic would at least be more trustworthy, alas that's an Opinion based off 'vibes'…

• Whether the PoS transition did save energy is debateable since #Ethereum uses #ASIC|s which makes it way more polluting due to these being useless for anything else. #Scalpers are shit but at the very least a #CPU or #GPU can be reused elsewhere…

Den #EpicFail von #TheDAO als #Hack zu bezeichnen ist falsch, #BR.

Das Problem war denen bekannt bevor jener #SmartContract online war, aber weil die Leute zu #geldgeil waren haben die das Problem nicht gelöst, sondern geflext bis #Buterin & Co. einfach nen #Backroll veranlassten und #EthereumClassic als #Fork entstand!

https://www.youtube.com/watch?v=X3wxKAAJ5p8

@cryptoparty na toll... Jetzt wird unnötig ineffiziente shice wie #EVM & #SmartContracts auch noch normalisiert...

Aber wahrscheinlich nur deshalb, weil die #SEC weiß dass #Ethereum so zentralisiert ist das diese Transaktionen problemlos backrollen können (siehe #TheDAO)...

@agreenberg It's interesting that they don't charge #Buterin and other key people that have #Staking power in #Ethereum'm #Blockchain and the #EVM that have both the power and capability to facilitate #rollbacks (as seen with #TheDAO) and thus undo #TornadoCash #transactions...

Maybe it's because the whole argument is bad and would essentially make the U.S. Mint liable for any crime paid for with U$D...

Yeah, this is why I'll never trust any #Shitcoins - espechally not #Ethereum - because they have demonstrated in the past that they can and will #backroll transactions if they want to !

Exibit 1: #TheDAO & #EthereumClassic:
https://www.youtube.com/watch?v=YQ_xWvX1n9g&t=1h59m32s

#Shitcoin

Natürlich musste #AxieInifinity genauso wie #TheDAO gegen die Wand krachen...

Zuviele Leute sind #HornyForMoney und damit nachlässig...

https://www.youtube.com/watch?v=cM6epfSoauQ

On ne peut pas retirer l'argent, le flux est dans un seul sens (ce qui évite les bogues style #TheDAO qui sont la plaie des fonds d'investissement tournant sur la chaine)

[Évidemment, les fanboys de G1 prennent la parole très longtemps pour promouvoir leur solution magique.]

Mon opinion :ça me semble une bonne utilisation des possibilités de la chaine de blocs.

(Ping @p4bl0 qui a l'autre exposé sur cette chaine.)

#CDL2023

And no, #Solidity is worse than #aws because as much as I hate it just slightly less than trowing stacks of cash at #Akamai, it doesn't actually solve an real-world problems but only exist to drive #Shitcoin #scam|s like #Ethereum up.
https://www.youtube.com/watch?v=ZzI9JE0i6Lc

Whereas #Monero :monero: is one of the most stable #Cryptocurrencies because it's developed by people who actually know the basics of economics and ain't #AnCap #shitposters that think they can change laws by coding stuff like #TheDAO...

@sollee @asei_sano @harkl @aruiz TBH, #Ethereum failed when #TheDAO was #backrolled as #SmartContract and thus #Buterin and other massive stakeholders showcased their capability to undo stuff they don't like.

Which makes them a liability I'd not count on...
https://www.youtube.com/watch?v=YQ_xWvX1n9g&t=7173s

@FranckLeroy that being said as #TheDAO and the #Ethereum - #Backroll has shown: Major #Stakeholders [aka. the 51%] on a #Blockchain are perfectly able to undo scammy transactions against all ideological claims.

They just purposefully decide not to do so in almost all cases for their own greedy interests, making them less accountable than any [central] bank ever!

https://youtu.be/YQ_xWvX1n9g?t=7173

@strypey

Maybe those "otherwise very smart people" know CAP theorem?

Or maybe they know a #Ponzi scheme when they see one?
Or at least when crypto bilionaire explain #DeFi as Ponzi schemes?

Or maybe they remember #TheDAO, that proved once for all that #blockchain can be rewritten?

Or maybe they know several better alternatives to any application of blockchain (except for scam)

Or maybe they know #PoS based cryptocurrency are institutionalozed plutarchies?

Or maybe they know PoS assumes people having their highest stake on-chain (that is NEVER the case)?

Or maybe they follow closely the matter since years (I started somewhere in between 2009 and 2012) and saw countless ICOs turning as plain scams?

Or maybe they know about #Tether?

You focus on the huge waste of energy of but in fact you are ignoring the legitimacy criticism of #cryptocurrency.

Yes the cryptoindustry waste a huge amount of energy even if you do not count the one wasted in marketing, propaganda and lobbying.

But that's just one of the issue.

@ilnulla

E’ già stato fatto, e non è finita bene: https://en.wikipedia.org/wiki/The_DAO_(organization)

Nessuno parla mai di #TheDAO quando promuove le #criptomenate perché ha dimostrato (matematicamente ed empiricamente, per costruzione) quanto vuota sia TUTTA la narrazione della #blockchain.

La sai quella che la blockchain non si può riscrivere?

Ecco è stata riscritta.
Ed è stato facilissimo!

Gli sviluppatori di #Ethereum hanno modificato il software, l’hanno aggiornato et violà, le transazioni di The #DAO erano sparite!

🤯

Sennonché non tutti accettarono di buon grado il nuovo corso.
Molti per far soldi (double spending), qualcuno perché dopo anni a ripetere “Code is Law!” “Code is Law!” non poteva sputtanarsi così di fronte a tutti.

Così il fork riscritto ha dovuto cambiare nome, da #ETC a #ETH.

Ma nonostante lo scandalo globale del 2016, oggi tutti fanno finta che non sia mai successo, che la blockchain sia davvero immutabile etc…

BALLE.

@quellodeilobri @SimoneSilvestri @informapirata @italianverse

Remember in 2016 when a small group of people didn’t like the way someone used ETH so they rolled back the chain and rewrote history? #TheDAO