re: The future of Bitcoin and Ethereum VIEW POST

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re: Transaction time on Bitcoin is an issue as long as you're willing to ignore the Lightning Network, which has become the go-to fix. While it's not u...
 

That's fair, omitting the work being done on the lightning network is a big hole. I'm aware of it, but it didn't come to mind while I was writing this. I'll add a mention of it since that's a serious effort to address this problem.

I agree volatility will decrease as a usage increases, but to me, it's a chicken-and-egg problem: volatility is a major impediment to increased adoption. I'm sure it will settle down once some of the bad actors are removed via regulation and once some of the pending investigations settle down, but I also think there will be a major downswing associated with those events.

The tech is very young, but standards are insufficient to address the problems I see with Solidity as a language. ERC20 is a standard, but there are still poorly implemented tokens. I see it as the same reason you wouldn't want to write, e.g., aircraft control software in JS—you can't verify the code in advance due to language limitations. Formal verification is an area of research in language design, and it's definitely possible for Eth/other smart contract platforms to improve in that area, but it'd be a drastic change and I don't see it being a priority any time soon.

It is young, and I expect it will stick around in some form, I just don't anticipate that these two examples will be the technology that remains at the forefront.

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