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Some early questions.

waykiwaykiwaykiwayki Member Posts: 1
Hi everyone - first post.

In January 2016 I did some research about Ethereum and liked the potential so brought some.

In recent weeks I saw the crazy increase and did more research.....which brings me to more questions.

1) I saw that the Ethereum Blockchain can only do 7 transactions a second, surely this will become even slower as it gets bigger? How can this improve? only nodes in close locations verifying? Surely a central SQL server or Oracle database the banks have will always win out, and not be threatened? (Personally I would love to see Ethereum become a massive de-centralised network for DAPPS).

2) I read this week that it took some people over 8 hours to download the Blockchain - surely this will increase too as it gets bigger? What are the benefits of becoming a "node" and having the blockchain on ones laptop / home pc (with no desire for mining).

3) It seems that this has the potential to kill youtube, google, central banks, and everything else centralised, even centralised governments. Is this true to say?

4) Claims of Ether taking over Bitcoin seem rational, as the recent volume is very similar, and the Blockchain seems to be able to do more?

5) All these people and links saying one can make 6% a day from their Ether, are these ALL scams?

6) It seems the cryptocurrency world is full of scams and hackers, so if this all really does go mainstream, which is looks like it might, it will be chaos?

Thank you for your time :) respect to the people supporting Ethereum.


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