[ExI] Thoughts on Ethereum?

[Mirco Romanato]

Il 12/03/2014 09:26, Giulio Prisco ha scritto:
> Take a look at https://www.ethereum.org/
> 
> At a first glance it seems a powerful enabler for a social singularity
> and a candidate Next Big Thing. I can even see applications to AI.

I think there will be more long term development in protocols
piggy-backing the existing Bitcoin protocol and its blockchain. The
blockchain of Bitcoin is a lot more secure than the blockchain of any
other proof-of-work coin of orders of magnitude.

Other cryptos have a lot less secure networks compared to bitcoin (they
are really vulnerable to 51% attacks) so they are at a big disadvantage
against bitcoin.

Ethereum, for example, need ethers (its coins) to work and set up
contracts. If ethers value is too small, it will be difficult or
impossible to create significant contracts where significant value is
exchanged.

It all depend on how much people is willing to buy and hold long term
ethers just because they are valued (they think ethers will retain,
maintain, increase, their value in the future). If no one want keep a
significant quantity of ethers for long periods of time (because they
prefer Bitcoin or gold or whatever), then the contracts will not take-off.

Mirco