Will EIP-999 reveal the true nature of Ethereum?
The infamous proposal would "bail out" lost funds from the Parity wallet bug (see explainer here). Vitalik has said the proposal is "very far" from acceptance, and took the opportunity to harangue the news outlet Coindesk for implying otherwise. Meanwhile, debates rage amongst crypto-lawyers as to whether ETH is decentralized, and whether this is relevant to its classification as a financial contract.
Ethereum devs suggest to bail-out Partiy’s victims w/ ICO creating Ether IOUs out of thin air redeemed (“social contract”) for real ETH seized directly from block subsidy (after PoS)— Francis Pouliot ⚡️ (@francispouliot_) April 27, 2018
✅central banking (inflation)
"It’s hard to know what the market will bet on ether-999 but if Parity puts their development force behind it (even more in the unlikely event that they stop supporting the main chain) then it will be larger than 0, which is what they get for not splitting. A small percentage of access to $250 million dollars is still a lot of money."
"We set out to answer if there was inside-investing or other irregularities in the Ethereum presale. We looked at the rules of the presale and formulated strategies for all actors. The shape of the chart (as compared to other charts referenced by Preston) can be explained by these strategies. It’s hard to draw further conclusions from the dataset because, even though it is very rich, in the end we don’t know the identities behind the transactions."
"Distributed computing is the key to the influx of Big Data processing we’ve seen in recent years. It is the technique of splitting an enormous task (e.g aggregate 100 billion records), of which no single computer is capable of practically executing on its own, into many smaller tasks, each of which can fit into a single commodity machine."
"In this post, we show that it is actually possible to build Scriptless Scripts based on ECDSA. The most important advantage is that they are fully compatible with the current Bitcoin protocol as Bitcoin transactions are already signed with ECDSA signatures."
News & Commentary
"Truth is rarely rewarded the same way as economic opportunism. And when it comes to crypto media, the standards for journalists are impossibly high, while they get paid like shit."
"Last year, when bitcoin prices rose from their 2017 starting value of just under $1,000 to over $19,000 by mid-December, market chatter was that bitcoin was usurping gold's role as a store of value and alternative to fiat currencies. After all, bitcoin's price was skyrocketing, while gold was languishing, staying mostly in the $1,200 an ounce range, despite rising geopolitical worries."
"Several exchanges saw their daily trading volumes drop by more than half between December and March, including Bitfinex, Poloniex, Coinbase and Bitstamp, the data shows."
"Great question. If we live in the best of all possible markets, where all information is public and all assets are fairly valued, then we can trust the market’s assessment of what software should and should not exist. Lack of software to solve a problem is a sign that it’s not worth solving."
"In other words, globalization has not given way to deglobalization; it has simply entered a different phase. This new era will bring economic and societal benefits, boosting innovation and productivity, offering people unprecedented (and often free) access to information, and linking consumers and suppliers across the world. But it will also be disruptive."