Since Ethereum seemed to be gaining popularity and value, I figured I would set up a wallet and give it a try. WOW… what a mistake !
Setting up ANY other coin has been no problem for me. Download a wallet, get some of the coin to deposit into the wallet, and I was good to go. Ethereum… WOW, what a hassle !
Downloading the wallet (Windows-64bit) is no problem… setting it up is another matter all together. Well actually it’s not the setup that’s the problem, it’s the finding “peers”, and “syncing” part. Thinking I have done something wrong, I tried this process several (almost a dozen) times. Several times by deleting the entire folder where the application was installed. I wanted to be sure I started fresh, leaving no remnants of possible previous mistakes behind. I started the complete removal after having tried several times to simply close the application and restart.
First, once the wallet is launched it looks for peers. This might be successful, maybe not. This had me concerned because if it’s so hard to find peers… to me, that’s a red flag. (I should have heeded my red flag gut feeling and given up much earlier than I did)
This looking for peers process could take minutes, or hours (many hours). So, once it finds peers (or maybe just one peer), it starts the sync process. If trying to find peers isn’t frustrating enough, just wait until you have attempted the sync process about a dozen times !
At first, once the peer or peers are found and the syncing starts, you can see the blocks being downloaded (syncing). At this point you’re thinking… finally, this thing is working. However… now comes the frustrating part. At the time of this writing there are a little over 4-million blocks. Each time, the wallet downloads about 2-million blocks, then stalls. You could wait days and not one more block is loaded (all while watching it look for peers, find one, only to see it looking for peers again without ever having downloaded one more block). After several days of active looking for peers and trying to download the rest of the blocks, you get frustrated and close the wallet and try to relaunch it to give it a kick start. BIG MISTAKE… now it will start the process all over again… from block #1 !!!
I have repeated this process more times than I care to count. At one point (the latest attempt before giving up), it made it to 99%. WOW… I thought it somehow fixed itself and was on its way to getting fully synced. I thought wrong ! After letting it sit for almost a week without closing the wallet and starting over again… it never downloaded another block.
This is the point at which I gave up ! Way back when I initially started the process, it asks you if you want to add some Either to the wallet. Mistakenly I added $50.00. Thankfully that’s all I added, because as of now, it’s lost money. I can see it using Etherscan, but at this point I am considering it lost money because I can’t do anything with it. I guess I should consider myself lucky having lost only 50-bucks.
So… if you want to try your luck at getting a Etherum wallet, I would caution you to not invest more than a couple of bucks, and, more than an hour or two trying to get the wallet set up. If your luck is anything like mine… your efforts will be a huge waste of time just like mine was. Learn from my stupidity !
One only has to visit the Ethereum forums to see that others (MANY others) have the same problems. I guess those that tell you they didn’t have any problems, maybe they are storing their Ethereum in a “online” wallet like Coinbase. I personally don’t like the idea of storing my cryptocurrency online, hence my efforts at trying to get my personal wallet set up.
And just to put the Ethereum wallet into perspective, I have 21 other wallets set up… and NOT ONE was anywhere as difficult to set up and manage as this Ethereum wallet. I’m not sure how this Ethereum currency will perform in the future, but they could be doing a lot better if they would get that wallet thing figured out !
Good luck to Ethereum… however it’s dead to me !