People are using it still. Not sure how long though. The coins are just tokens to feed their empire. They made it all bad when going proof of stake.
The tech - smart contracts is great. The coin though 👀
Discussion
That's what I mean, smart contracts I get - cool. But why buy the token, it isn't helping the tech directly or solving any real world problems? or I'm I just being ignorant here. I only hear speculation of the price going up thus why someone should put their hard earned money in it.
The reason to buy the coin is that smart contract operations all require ether (gas?) token. That's the cost you pay for the "Ethereum virtual machine" to run your computation.
Cool. But why? it's almost like it's creating a problem to solve the solution with their technology.
Well the idea of Ethereum (at least originally) was to create an uncensorable "global computer." So the token having value is necessary to provide the incentive for the miners/validators to actually run the code.
Same conclusion. Still waiting for someone to explain a real world use case for ETH that doesn't involve supporting the fiat system.
Yup. Just seems like another way to gamble and speculate all while paying a fee along the way.
Yea the technology is useful but the token is gambling on your money.
Smart contacts? Automatic and immutable resolution of things like assurance contracts, prediction markets, insurance, etc...
I’ve heard “smart contracts” thrown around so much that it’s become a buzz word. Who is actually using smart contracts, and what are they? lol
“…yeah, smart contracts man…like when your money is in escrow…don’t you get it? It’s just smart man…” 😂
Exactly. I usually say, if they are useful (I have yet to see a good use case) I wouldn't trust them on a shit blockchain.
They also need some kind of oracle to confirm completion of the contract (unless it's a simple time lock). Those time locks already exist on bitcoin as far as I know...