The Ethereum or Ether It is a crypto-currencies
This is fine, but it still has three big problems I'll introduce you in this video Hello everyone ! It is "Rousseaux, good crypto" And this chain is here to help you increase your standard of living so you can spend more time what you really like The Ethereum, you can invest almost like bitcoin Now it's the second biggest cryptocurrency
This also works with "blockchain" So the principle Ethereum, I already told you a little presented in a video, but hey, this goes back a little bit I have not re-watched to tell you But by and large, to summarize, Ether is: the "smart-contracts" The "smart-contracts" so "smart contracts"
And in fact, when a number of conditions together and executed, the contract runs If you want to make a visualization, admit that the Bitcoin is an Excel sheet So you have every transaction, every line This makes the blockchain The Ethereum will be an Excel sheet with macros enabled Macros, this allows to format your data, it allows for more analysis
This is a little above the level, if you want So when you hear it exactly, allow to execute contracts on blockchain which runs automatically when a number of shares was carried out You say to yourself: "it's great" And that is why it has attracted a lot of people from the beginning And indeed, I will tell you about the first problem it has brought
DAO with Ethereum, the "Decentralized Automated Organization" So automated decentralized organization, decentralized automatic organization In short, an organization that helps run without which the human is inside So, it runs by computer automatically Well, this project has raised 150 million dollars
At the time, it was the biggest "crowd-funding" So, precisely, all this greed, well then, it attracts many people: new investors, people who believe in background in the crypto-currencies and hackers So at that time, there was a group of people, researcher who had raised some points in the CAD and the contract was not very secure The team did not really want to listen, said there were no problems on it I will have once again put, of course, links in the description
And suddenly, have nevertheless continued the project The funds are raised, the 150 million and there is a hack There is a hack! a little expected, you'll tell me, since it had been warned So, there is a guy who has recovered 50 million dollars They were stolen using specialized hack So, that had been found in a fault
I've put the details below Suddenly, the CAD has been a failure, one can say And it led to the separation of ether in two currencies, a "split" And that is what will precisely against what Ethereum and "smart-contract" since this should not normally be changed And there, as it did not work, they changed
So why there is the classic and normal Ethereum Ethereum? Well, the classic Ethereum is one that was hacked Why is she still here? We do not know Frankly, I do not see the point of keeping two currencies if one has been hacked Then the second major weakness, for me, in my opinion on Ethereum, is that the "smart-contracts", programming, it is not the law For many who will for example have a social deficit or problems talking with others, communicating, listen, get back to programming to execute contracts
And the law, for them, it looks good That way it works in a binary fashion But the problem is that this can not be like that, since the contracts still evolving if you look in the human world I mean, the law, it was built gradually at As we see problems And it's the same for all contracts, also to protect people who do not have necessarily the same capacity to make the right decisions
This allows you to remove yourself from a contract But now it's impossible There is no "rollback", there is no turning back I need to stop using the words in English So there is no turning back
If the contract is executed, it is executed, you can not get your money back That is why there was the hack elsewhere That's why they changed it So this can not be canceled If you made a mistake too, human error in your contract or whatever, you can not see it
And there is another problem is that we can know if the policy actually works and how it works at one time it is executed with Ethereum and "smart-contracts" So it can attract a lot and many problems Besides, this brings me to the third point, is that it has attracted a lot of scammers Since Ethereum allows for fundraisers actually Fundraising for the service, a new "tooken," as they call them, that will solve a problem
So for example, music copyright or many "Ponzi scheme" of course I have no ideas there It's always when you make the video that you have no idea about: what good is That's crazy ! In short, there is really full of relevant case with Ethereum These fundraisers, called "ICO" "Initial Offering corner
" So you come early, you make a crowdfunding project and in exchange, you will receive the "tookens" precisely in the hope that these "tookens" increase in value, and suddenly you have a good return on investment And this creates tons of scammers Frankly, I told you, the "Ponzi schemes" and others In China, there have been plenty of false scams and that's why besides China, why they closed exchange platforms, is that they do not want their people do scammed There is even a Chinese ICO and I find it quite funny
So, that made you download software but you do not even need to invest Ethereum, since the "malware" came straight draw in your wallet if it was on your computer When you invest in Ethereum is very convenient As I say, this person sent to such an undertaking And once they've raised the money, the contract runs You receive the "tookens"
And so we've had to use Ether for it There's also: I had exchanged with I told you about my cruise where precisely I had exchanged with a lot of people who worked in the crypto-currencies With someone who deals with advertising, precisely to the ICO So, very interesting He said that there was a currency, Finally a "tooken" who pretended to have a lot of attraction, so many people who invested by removing and re-investing
So, creating a machine if you want You take the money in a way a little bit obscure, the Ether and you reinvested in it plenty of times So, it was believed that there were many people investing And it was just a dark scam If I were to conclude, Ethereum, there is still a lot of advantages
I mean, all that is decentralization which will allow to recover in fact, the power, the more people, I think it will be really positive So we are at the beginning Ethereum There are so many fad on Ethereum and I can understand why, as it can change many things and bring prosperity to many people Besides, I think do training on it to invest in it You tell me below if you're interested or not
So, as I could add it to "give" or I training in another corner, I do not know Your opinion matters to me a lot, Therefore I'd like you to tell me on that, because I dig all the way to Ethereum now Such as Bitcoin, as all crypto-currencies not everything is white in it or I would have invested everything above, but I think once it stabilizes and that people understand that there are scams, who pass the word actually In fact, you know, if people share videos where we talk about scams, More and more people are aware and it avoids that people do scammed And now, there will be less and less
It's like the scam: you want to win 10,000 euros per day in your couch? Here ! Guys, they are still there, is that it always works I mean there will always be people who will rip unfortunately And for the simple reason that they do not subscribe the string "Rousseaux freebie" they have not clicked on the bell to be informed I'm joking ! In any case listening, I hope you have enjoyed this video Still, do not hesitate to share in the comments
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And until the next video, listening you can watch the videos I'll put you here And I am delighted to have spent those minutes with you And I say ciao! See you !