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posted by martyb on Thursday November 16 2017, @11:33AM   Printer-friendly
from the ethereal-ethereum dept.

Vinay Gupta, one of the main figures behind Ethereum, is having a meltdown. Someone he doesn't like (Gab.ai) was apparently considering using Ethereum for something. Gupta has posted some...interesting tweets. Key quotes:

"[Don't use] Ethereum. We are all communists"

"We will collude against you"

"We do infrastruture. You depend on us. We will find ways. Count on it".

Are these the kinds of things one wants to hear from the people behind a digital currency (and platform) that one is supposed to trust? They will "find ways" to "collude" against anyone they dislike?

Seriously, the more I learn about Ethereum, the less I like it. Full disclosure: I sold what few ETH I owned several months ago, for reasons related to "The DAO" mess.


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  • (Score: 5, Insightful) by takyon on Thursday November 16 2017, @12:52PM (13 children)

    by takyon (881) <reversethis-{gro ... s} {ta} {noykat}> on Thursday November 16 2017, @12:52PM (#597658) Journal

    The Bitcoin market cap is over $125 billion currently. It didn't get to that level through drug deals and magic blockchain fairy dust alone. People have found a use for it: getting cash past borders.

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  • (Score: 0) by Anonymous Coward on Thursday November 16 2017, @01:43PM (2 children)

    by Anonymous Coward on Thursday November 16 2017, @01:43PM (#597678)

    And buying Pizzas!!! Don't forget 14.000 BTC pizzas!

    • (Score: 1, Funny) by Anonymous Coward on Thursday November 16 2017, @02:18PM (1 child)

      by Anonymous Coward on Thursday November 16 2017, @02:18PM (#597705)

      Do they come with a 5.000 BTC milkshake?

  • (Score: 2) by FatPhil on Thursday November 16 2017, @02:15PM

    by FatPhil (863) <pc-soylentNO@SPAMasdf.fi> on Thursday November 16 2017, @02:15PM (#597703) Homepage
    That's not what's driven its value up, though. There might be a positive correlation between such use and value presently, but when the inevitable crash occurs, they'll probably completely decorrelate (and might even become negatively correlated), as the property that makes them useful is almost orthogonal from their value - which is easier to carry across an international border, .001 BTC, or 1000 BTC?
    --
    Great minds discuss ideas; average minds discuss events; small minds discuss people; the smallest discuss themselves
  • (Score: 1, Troll) by jmorris on Thursday November 16 2017, @04:06PM (8 children)

    by jmorris (4844) on Thursday November 16 2017, @04:06PM (#597741)

    People have found a use for it: getting cash past borders.

    The phase you are looking for is "money laundering." Getting illicit money past the regulators, getting money through border controls, getting money anywhere it isn't supposed to be and/or removing the criminal taint from it.

    And it is a lot harder than most people think. I have been looking into it, BitCoin leaves a permanent record, Proggies have been doxxing people who used it to donate to DailyStormer during their troubles so that is out. Eth is commie and we of the new right have known this for some time, @a was mostly trolling em into making that widely known. Something he succeeded in beyond his wildest dreams. Commies ain't smart. But that is the big reason I haven't went dark yet, not wanting to make a half assed effort at it means I need a way to fund an alt-identity and there isn't a foolproof way that isn't a hell of a lot of work.

    • (Score: 3, Interesting) by Arik on Thursday November 16 2017, @04:43PM (1 child)

      by Arik (4543) on Thursday November 16 2017, @04:43PM (#597763) Journal
      "The phase you are looking for is "money laundering.""

      A loaded term by and for the totalitarians, I'm shocked you've fallen for it.

      Sure, criminals use currency - just as criminals use encryption. That doesn't mean encryption should be 'controlled' and it certainly doesn't mean currency should be 'controlled' either.

      It's just one more way in which they'll squeeze every last bit of life and liberty out of the people, if permitted.
      --
      If laughter is the best medicine, who are the best doctors?
      • (Score: 2) by bob_super on Thursday November 16 2017, @06:18PM

        by bob_super (1357) on Thursday November 16 2017, @06:18PM (#597794)

        > It's just one more way in which they'll squeeze every last bit of life

        Statistically, non-democratic regimes have controlled well over 99.99% of all human lifespans, with a proven track record at population growth

        > if permitted.

        As if your opinion was requested.

    • (Score: 1) by khallow on Thursday November 16 2017, @05:06PM

      by khallow (3766) Subscriber Badge on Thursday November 16 2017, @05:06PM (#597768) Journal
      Look up a couple of posts. takyon found that phrase.
    • (Score: 4, Insightful) by aristarchus on Thursday November 16 2017, @08:43PM (4 children)

      by aristarchus (2645) on Thursday November 16 2017, @08:43PM (#597881) Journal

      That's our jmorris!

      Commies ain't smart. But that is the big reason I haven't went dark yet, not wanting to make a half assed effort at it means I need a way to fund an alt-identity and there isn't a foolproof way that isn't a hell of a lot of work.

      Complete lack of understanding of his imaginary enemies, not dark (as in (((white)))?) yet, and to lazy to not be who he is!

      May I make a suggestion? There is a way, jmorris, for you to alter your identity without having to be all dark about it. It is called "education". Still takes quite a bit of effort, so if that is your foundational malfunction, well, good luck with that. But you could change who you are, and be able to stay public, and be proud and confident of yourself, instead of hiding in the bunker, or in the closet with Jeff Sessions. This would mean that we would lose our jmorris, but I think I speak for all Soylentils when I say that although we would mourn the loss, it would be worth the gain. Pax vobiscum, jmorris.

      • (Score: 1, Funny) by Anonymous Coward on Thursday November 16 2017, @10:33PM (1 child)

        by Anonymous Coward on Thursday November 16 2017, @10:33PM (#597952)

        You do not speak for all, I would not mourn the loss of his current level of ignorance one bit. I suggest he take a hint from old marketing trends and eventually create e-jmorris. Like that will happen though, he seems like the type that will dig in his heels instead of learning.

        • (Score: 3, Funny) by aristarchus on Friday November 17 2017, @12:24AM

          by aristarchus (2645) on Friday November 17 2017, @12:24AM (#597994) Journal

          Shouldn't that be "i-Jmorris", or is that only if he really goes dark, like to the Dark Side: Apple.

      • (Score: 0) by Anonymous Coward on Friday November 17 2017, @10:36PM (1 child)

        by Anonymous Coward on Friday November 17 2017, @10:36PM (#598434)

        Psssst. Your sneer is showing.

        • (Score: 3, Informative) by aristarchus on Saturday November 18 2017, @12:33AM

          by aristarchus (2645) on Saturday November 18 2017, @12:33AM (#598473) Journal

          At least that is better than my sheer snowing. Offer not valid where prolapsed. Pardon my steer snoring.