Please list technical/fundamental reasons why Blockchain Technology, Ethereum, TheDao are not worth investing in.

Coioco · 2時間前

I am a software developer.

Blockchains are useless
- It's basically an incredibly slow and unwieldy database with the worst I/O times and latency of all time. Ten minutes to write to a freakin' database, as with Bitcoin? A minute as with litecoin? Pass. To put this in real world terms, imagine your garage door is hooked up to bitcoin and once an address is paid some small amount it opens. Great, right? So you pull in to your driveway, you pay your garage door and.... nothing happens. You sit there for 10 minutes. Wow, incredible technology there. How did these Captains of Industry pull off such an audacious feat of tech.
- For the record, MongoDB is a database that is universal mocked and disdained by enterprise software developers because it is slow, and it is around 10,000 times faster than blockchains.
- It solves zero problems -- as the old saying goes, blockchains are a solution in search of a problem.
- If the blockchain is immutable (i.e. can't be corrected) it means it is possible for an intern to accidentally destroy the company by programming a bug that sends coins to a blackhole address like bitcoineater
- If the blockchain is mutable, then why the fuck would you use a blockchain in the first place, the entire point is that it is immutable.

Edit:

As for Etherium, the entire thing is just straight up retarded from the start. The primary selling point of Etherium is 'smart contracts' aka we agree that you mow my lawn, and once my lawn is mown, I give you some etherium butts
- The obvious stupidity here stems from an old CS bit of wisdom: "garbage in, garbage out". That is, a program that received garbage input will invariably produce garbage output. In the case of the lawn mowing example: what data source definitively establishes that my lawn was mown? There must be one for such a 'smart contract' to key on. But any such source is completely unreliable, and therefore the 'smart contract' fails before it even starts.

Rycross · 3時間前

Nah. You're not going to listen.

JeSuisEuphorique · 3時間前

Listen here, buddy. If you think buying these tokens now and selling them for fiat profits in the future is a good idea, you could very well be a gambling addict.

Bitcoin is not a company or a stock. It produces no dividends and its marginal value is predominantly using it to do illegal stuff online. Ethereum is nonsense, tech bubble 2.0 sort of crap. It'll be worth something if it's the new darknet currency, but right now it's worth practically nothing.

gambleaware.co.uk

apollo888 · 2時間前

It's all in the wiki.

jstolfi · 1時間前

This question was asked here a month ago, and the answers given then still seem to be valid.

roidragequit · 1時間前

your best bet would be listing the reasons you think these things are viable investments and letting us dissect them

Silly_Balls · 1時間前

Okay as an accountant

Your investment strategy is backwards. It's not 'why should I not invest in X'. It's why should I invest in X? To answer that question you first need to decide a few things. Mainly, what's your risk tolerance, what's your preferred return, and what's the best investment to fit your investment strategy.

So if you want a 3% RoR, even if you have an extremely high risk tolerance, you should avoid a speculative instrument. Why would you add unnecessary risk when something much safer will get you the same return?

If let's say you have a high risk tolerance and are seeking returns in excess of 50%, then you are basically gambling. Sometimes you will win and sometimes you will lose. If you want to gamble that's on you, but that's not an "investment".

Now why do I say bitcoins, ethers, doges etc... are bad gambling choices. Because unlike a game of chance, where you can atleast know the odds of winning. Bitcoins et al rely on the Greater Fool theory. You are simply buying now in the hopes that you will be able to sell it to someone in the future later.

ReallyRealRedditUser · 59分前

Ethereum and The DAO are just big pump and dumps. Investing in The DAO is the same as investing in a government with no country. You have a million people fighting for how money should be spent, so the entire thing will simply devolve into politics and wastefulness. It's beyond comprehension why anyone would put money into it or even believe it could work.

Unlike the software developer above I wouldn't go so far as to say blockchains are useless because all a blockchain is is a linked list with hashes used to provide information about a ledger's global state over time. There's a Wikipedia article that explains as to why that might be interesting to you. It's probably the only reason Bitcoin is worth anything. It's the same technology Ethereum uses except Ethereum is even less scalable because it's full of completely unpruneable arbitrary data inserted by contracts unless the contracts kill themselves with the optional OP_SUICIDE. Ethereum has sold everyone on a useless feature (extra expressive scripting) while failing to address the fundamental weaknesses in the systems architecture. Already Ethereum fees are causing several of its original businesses built on top of the platform to no longer function. Vitalik's answer to scalability problems was to make blockchains run locally and try to meet global magical consistency somehow, which makes not a lot of sense. A fast scalable blockchain data structure would be a big deal, but so far no one has come up with it.

EnUnLugarDeLaMancha · 1時間前

I do not deserve getting free money for no reason, so I'm highly sceptic of any "investment" scheme that promises me to become rich without risk. Be it bitcoin or anything else.

NotHyplon · 1時間前

Do your own homework assignment.

AnythingForSuccess · 1時間前

[deleted]

mommathecat · 45分前

Ethereum has zero functioning apps that are not meta or gambling apps.

You're "investing" in vapourware on top of vapourware.

giact · 30分前

I like Ethereum.

In fact, I even bought some presale Ether because I thought it's an interesting technology and an interesting experiment and I wanted to contribute to its development. But before that I read the papers, studied them, and even contributed (only a tiny bit) to the code during its initial proof-of-concept phases.

Having said that, I would strongly suggest against investing money in Ethereum if you want to make a profit: for all we know that whole experiment might fail so whatever you buy might become worthless overnight.

If you truly like Ethereum, I suggest you study it and perhaps try to build some interesting applications on it.
And buy only a little Ether just to check out how it works. But don't throw your money at it like it's some investment.

butterNcois · 17分前

Let's say that I'm a prominent record producer working for a well-known record label (I'm not). Part of my job is keeping up with that the cool kids do. So naturally, I MUST get a smart contract to help me with my job because it what the cool kids want (they don't). How are you going to put "if band doesn't produce 4 albums, don't pay them" in a smart contract?

This, and most of IRL scenarios involving contracts and financial transactions have no use for ethereum. Smart contracts are fucking dumb. Not everything in life is a yes no scenario and most contracts can't be put into code, especially not ethereum's code.

Buttcoin

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