While people jump at any chance to say Bitcoin is dead, they forgive their darling Ethereum (with its cooler sounding name) for all the profits it has brought them. They lived the dream, bought the hype, against all logic while men in suits told you it was ok to pay over a million for a white paper or a few lines of test code. Now i don't say the technology is a fail or the project is horrible and worthless - not at all. Like Andreas Antonopolous i want to see Ethereum, Solidity and the potential of smart contracts, DAO and such innovations slowly proven and utilised rather than just speculated on in a way that stifles innovation. Many ICOs stealing investment money away into the hands of suits and not developers and computer science researchers. They convert money into lifestyle, advertising, conferences full of hype and lies, bribes to denegrate the cryptocurrency press and incentivise dishonesty.
So what is happening right now - well Ethereum has had flash crashes down to 10c on GDax, who have had this issue before with liquidity and lack of safety. Ethereum is approaching a price point where alt investors will dump and those tokens based on ERC20 will lose value at an exceptional rate (in my opinion). I have been trading crypto for 4 years, mining and I have a degree in computer science circa 1991 when we really had to design the nuts and bolts of internet and networks that this is all built upon. I have been really confused how people just refuse to accept that they are buying into ideas by people who profit hugely by selling the dream rather than proving it. If there were things i could actually do that were all they say and i was blown away by demonstrations of even 1% of what we hear about I'd be singing the praises but all i remember are the breakdowns of the Ethereum nodes many times, the lies about pruning or optimising the Ethereum blockchain to keep it efficient, the fact that nobody tends to get the node to syncronise unless it is an alternative version and running in a datacenter because of the ludicrously short block times and overblown data.
Blockchains are not like your itunes database, its not about what you can fit on the hard disk - it is about what has to be scanned through, tested and checked of a huge database to enable proven immutable processing to happen swiftly. That is why data needs to be stored conservatively. People talk about network speed limits as if we are talking about streaming video - we are talking about very complex hashing, cryptography and software - complexity density. Complicated blocks can slow processing and cease the flow - and guess what just happened.
