I second the Howl's Moving Castle reference. Incidentally, the Ethereum Moving Castle's most used contract is the ENS, the Ethereum Name Service, similar to DNS/Name Registry on the open internet. The ENS had managed 100,000 Vickery auctions so far. Very cool to see smart contracts in the wild. Next biggest contact use case is likely to be SmartPool.io -- fully decentralized mining pools coordinated by smart contracts. Fun times to see the Ethereum vision slowly materialize.
Actually this is one of the things I'm most excited about whether it is done on ethereum or something else (I believe namecoin was trying something similar).
You need people to care, not just technology that works. One of my keenest learnings in the last 6yrs I've spent in this space is that even for technology that is a trust solution, like blockchain is, you are still very much dependent on people -- they need to care, they need to agree with you (via Nakamoto or PoS or other forms of consensus) and you need more than just yourself and cool technology.
I consider myself to be extremely lucky really. Even if I am sarcastic in the drawing above, I am still invested in the technology. I believe it can change everything really. People in the future will wonder how we could live without it.
We will see. Even if blockchain makes the world a little better, I'll be pleased. It's on people like you and people like me to push it through and keep it on track for positive change. Cheers, brother.
I agree with you @kyriacos! I'm invested in it too and plan to increase my position in it over time. I look at it as similar to the beginning of the internet, only this time everyone can invest in it. Some of the ICOs will likely not amount to very much but some of them will, and those are likely to be huge. Exciting times, indeed!
I feel the same way, people are building and launching ICOs like there is no tomorrow. But no one has actually achieved anything yet, they promise your the world though. Give me your money and I will give you this shiny new token/coin that doesn't do anything, except being shiny and new.
Haha great piece. For some reason I see some irony in the post. Not sure if you did it on purpose or because I just got home and I'm still drunk.
Anyways it seems like so many peoples see ethereum as this big complicated piece of technology but they have no idea what it does. However what the community has been spreading is mainly ICO this and ICO that. All I see are "invest in this ICO and you'll make lots of money!" They seem to get sidetracked by money rather than paying attention to the actual technology behind the ICO.
I don't know maybe I'm still drunk and overanalyzing this. Or maybe that's what the piece of art is intended for!
I am looking up at EEA to come up with enterprise success stories .. Smart dubai has made some bold announcements.
For ETH to hit thousands, smart contracts adoption is key. Or will the hype just carry it ? Bitcoin is a household name without any of these. Is there enough room for the second ??
hahaha nice one! Tokens sold in ICOs have "temporary" value at the moment, in the sense that they have value just because people believe they have value and invest in them. The real "stable" value will be assigned when the technologies that these tokens support start to be applied in practice. For the ones that fail to do that, the temporary value they have now will be lost at some point.
All tokens have temporary value which is based upon belief or even faith - this applies to all modern currencies be it crypto or paper/fiat. The only difference between those you call "temporary" and those you call "stable" is the value of Faith Intensity Index ;-)
lol, that's true. But if you view them as shares for a new technology, then their value is bound to grow as the technology applications grow. It will be more about efficiency than faith. Right now the opposite happens, people invest in ICOs for the sake of investing in ICOs, because they heard you can make money, its a trend. The trend can go down just as it went up if there is nothing to back it up...
It is still about faith, just the faith gets stronger with higher perceived usability of given token and perceived usability depends on practical applications of actual technology, but those practical applications require believers in their practicality. So it is just about faith :-)
I think many people don't realize that ethereum is still developing and to expect it to be used for everything before it is complete is foolish. New technology takes time to implement. Laughed at the comic though, sarcastically witty. ;)
It certainly feels a little like a bubble, like the .com bubble. pets.com groceries.com etc. put a .COM on something and it was instant short lived value. The ICO's kind of feel the same at the moment. Is there true value and potential in blockchain? Yes for sure. Are the current iterations going to be the leaders in 10 or 15 years? Probably not. Am I still investing here? Indeed! Best of luck all.
I second the Howl's Moving Castle reference. Incidentally, the Ethereum Moving Castle's most used contract is the ENS, the Ethereum Name Service, similar to DNS/Name Registry on the open internet. The ENS had managed 100,000 Vickery auctions so far. Very cool to see smart contracts in the wild. Next biggest contact use case is likely to be SmartPool.io -- fully decentralized mining pools coordinated by smart contracts. Fun times to see the Ethereum vision slowly materialize.
Actually this is one of the things I'm most excited about whether it is done on ethereum or something else (I believe namecoin was trying something similar).
You need people to care, not just technology that works. One of my keenest learnings in the last 6yrs I've spent in this space is that even for technology that is a trust solution, like blockchain is, you are still very much dependent on people -- they need to care, they need to agree with you (via Nakamoto or PoS or other forms of consensus) and you need more than just yourself and cool technology.
Very true. That is why now I try to invest in people.
we shall see :)
Indeed, brother, indeed. How lucky are we to be in the middle of all this!
I consider myself to be extremely lucky really. Even if I am sarcastic in the drawing above, I am still invested in the technology. I believe it can change everything really. People in the future will wonder how we could live without it.
We will see. Even if blockchain makes the world a little better, I'll be pleased. It's on people like you and people like me to push it through and keep it on track for positive change. Cheers, brother.
I agree with you @kyriacos! I'm invested in it too and plan to increase my position in it over time. I look at it as similar to the beginning of the internet, only this time everyone can invest in it. Some of the ICOs will likely not amount to very much but some of them will, and those are likely to be huge. Exciting times, indeed!
I feel the same way, people are building and launching ICOs like there is no tomorrow. But no one has actually achieved anything yet, they promise your the world though. Give me your money and I will give you this shiny new token/coin that doesn't do anything, except being shiny and new.
Yeah, overblown promises over an overcomplicated and overpriced platform. (so far)
Haha great piece. For some reason I see some irony in the post. Not sure if you did it on purpose or because I just got home and I'm still drunk.
Anyways it seems like so many peoples see ethereum as this big complicated piece of technology but they have no idea what it does. However what the community has been spreading is mainly ICO this and ICO that. All I see are "invest in this ICO and you'll make lots of money!" They seem to get sidetracked by money rather than paying attention to the actual technology behind the ICO.
I don't know maybe I'm still drunk and overanalyzing this. Or maybe that's what the piece of art is intended for!
The post is full of irony indeed. I am glad someone picked it up :)
I am looking up at EEA to come up with enterprise success stories .. Smart dubai has made some bold announcements.
For ETH to hit thousands, smart contracts adoption is key. Or will the hype just carry it ? Bitcoin is a household name without any of these. Is there enough room for the second ??
Only time will tell!!!
The most elegant machinery doesn't always win the marketing battle, so who knows where Ethereum is going, but I get your point.
aghmmm...look at dat base ...aghmm
Yes, I noticed it looks a bit like the early versions of Windows.
:)
hahaha nice one! Tokens sold in ICOs have "temporary" value at the moment, in the sense that they have value just because people believe they have value and invest in them. The real "stable" value will be assigned when the technologies that these tokens support start to be applied in practice. For the ones that fail to do that, the temporary value they have now will be lost at some point.
yeap!
All tokens have temporary value which is based upon belief or even faith - this applies to all modern currencies be it crypto or paper/fiat. The only difference between those you call "temporary" and those you call "stable" is the value of Faith Intensity Index ;-)
lol, that's true. But if you view them as shares for a new technology, then their value is bound to grow as the technology applications grow. It will be more about efficiency than faith. Right now the opposite happens, people invest in ICOs for the sake of investing in ICOs, because they heard you can make money, its a trend. The trend can go down just as it went up if there is nothing to back it up...
It is still about faith, just the faith gets stronger with higher perceived usability of given token and perceived usability depends on practical applications of actual technology, but those practical applications require believers in their practicality. So it is just about faith :-)
They have created a monster with many heads!
I think many people don't realize that ethereum is still developing and to expect it to be used for everything before it is complete is foolish. New technology takes time to implement. Laughed at the comic though, sarcastically witty. ;)
I understand. I think it has potential as well. But right now, this is really what it represents.
Reminds me of Hauru's moving castle :)
hahaha yes!
It certainly feels a little like a bubble, like the .com bubble. pets.com groceries.com etc. put a .COM on something and it was instant short lived value. The ICO's kind of feel the same at the moment. Is there true value and potential in blockchain? Yes for sure. Are the current iterations going to be the leaders in 10 or 15 years? Probably not. Am I still investing here? Indeed! Best of luck all.
I share the same sentiment.
So it begs the question, what are you investing in? scatter approach? ICO's on the ethereum blockchain? potcoin ( i love the name.)
everything. diversify as much as you can.