Topic: [ANN] Ethereum: Welcome to the Beginning - page 1078. (Read 2006106 times)

from what i understand huge consortium of financial institutions invested in R3 (Mike Hearn) using the ethereum programming

http://www.ibtimes.co.uk/r3-connects-11-banks-distributed-ledger-using-ethereum-microsoft-azure-1539044


some other financial institutions are using the legacy open source linux hyperledger

ASX is testing this at the moment

bit hard to ignore other blockchains

http://coinjournal.net/prediction-10-billion-will-be-invested-in-blockchain-startups-in-2016/

“It’s already started. I mean, my estimate is that we’re going to see $1 billion come into the Ethereum ecosystem in 2016 alone, and the general estimates for the amount of money going into the entire blockchain ecosystem, including Bitcoin, is on the order of $10 billion.”  - Vinay Gupta (original CypherPunk member)

Hi there.

I have a couple of questions that i wasn't able to answer looking around. I'm pretty new to ethereum, i'm studying fundamentals and i was interested in setting up a node. Does that have any benefit? Is that a way to *mine* (i know eth is PoW right now) eth?
Also, can someone explain the inflation rate? I read around that was dependent on the number of btc from the ipo, but i didn't really understand what is the actual inflation rate.

Thanks to whoever is gonna answer my questions

I think the quest to break 400k is looking good this time, there are still big walls on poloniex, but there seems to be a ton of accumulation in this range, which is a good, i am glad i bought some in the 360 range yesterday, buying all i can below 400k. More than happy to buy and hold this coin in this price range.

The trading volume and market cap is still lower than litecoin, but it is catching up very fast. The price is also rising.

im waiting for detail about POS mining this year...

 A video that I came across a pretty interesting Published on Jan 20, 2016


  Ethereum has got my financial attention    $10.00 A coin mmmmm

 https://www.youtube.com/watch?v=Y09xuN_KQEk

Thanks for the links, I will do some research from here. But I will say that the very little response on these questions makes me feel everyone is trusting Vitalik and if he pulls through then great, if not, then this is just another alt that will run its course.

I see a few big reasons I don't pull the trigger on ETH

1. Bitcoins technology problems will not be exclusive to Bitcoin, ETH or any distributed ledger will have scaling issues, ETH will be no more equipped to deal with them than Bitcoin after, all it is just software. Why would ETH be better off? Only because they still have their Satoshi (Vitalik).
2. Vitalik is essentially the lifeblood of ETH, were he to disconnect i think ETH is done
3. ETH while well engineered is also open source, and they are not established enough to give away their excellent engineering, there is no barriers to entry into their technological space, unlike Bitcoin. Bitcoin's barrier is NOT technology, it is recognition and acceptance. ETH doesn't have that recogniztion and groups like R3 are just stealing their stuff and will make ETH look like a nice little R&D lab.
4. Proof of Stake is a gimic, nothing works as well as proof of work and could be a disaster if ETH ever made it to #1. I don't like Bitcoin POW, I would prefer a random round robin hashing algo that is impossible to predict. I wouldn't mind Bitcoin doing something like that everyone's asics including mine be damned.

Triple bottom, moon or low again

Ethereum – Cryptocurrency With Lots Of Expectations And Disappointments
The altcoin ETH is a currency of the Ethereum network made for smart contracts creation. Ethereum it not just a network but a whole platform allowing programmers to develop various decentralized applications. Even though like many cryptocurrencies there have been a lot of Ethereum expectations and disappointments.…
http://www.altcointoday.com/ethereum-expectations-and-disappointments/

speaking about the price and saying to talk about the primary capabilities and speaking of the protocols and realizing that in the end bitcoin as the equivalent can be and will not be taken as a basis and that basis can be converted either through a consensus re-decorated and the fact that the format of the reference to anything not materialized, but I think that in the end, 0.25 btc per ETH can be laid in the minds, though,thus capitalizertag crypto technology cost up to 20-22bln $ in the near future, but here we can already speak about voluntarism and compulsion of attainment crypto and pattern could fit and form of objectivism to specify more precisely and more vocal, though,

HI,

I like I/OCoin because it is a PoS coin, the same of which Eth will also evolve into (right?). I like that there are only 16mill coins mint and it was a fair launch, there was no ICO/IPO, zero pre mine, all coins had to be mined in the POW phase. 

But most of all, just like the Ethereum team, the IOC team are hard working, dedicated and highly focused on bringing something new to the table in the alt world. I like to invest where i know the people in charge are not going way, are here to stay and going to make big developments that will be used in the real world. I/OCoin is one of very few with real world goals, that are being achieved and it will soon release dIONS which is a system to send and receive coins via username all on the blockchain, fully decentralized, plus many more great developments.  They are also nominated for the European Fintech awards (I/O Digital company of I/OCoin) .

More info (whitepaper and developments progress) found here www.iodigital.io  and iocoin.io

So with my investments in Eth and IOC i know the future is very bright and my investments (which have been very substantial) will see nice returns and one day i can tell my child i was one of the early investors of such widely known and adopted ground breaking technology.

Thanks for the post.  Btw can you explain why you are interested in I/OCoin?

Ethereum long term has to be the safest bet in crypto long term, make no mistake about that.

Vitalik is one, if not the most intelligent and savvy programmer and businessman in this crypto space.  More and more people can see this and more and more people are selling alts to invest in Ethereum.

Ethereum has a big team of some of the best programmers money can buy.
It is the most traded alt coin  and will continue to be the #1 alt to Bitcoin.
It is a wordl wide "brand" and will just go from strength to strength, like google in the early days!
I can see Ethereum cementing its #1 alt place soon and become the most valuable "coin/token" after bitcoin.

The price we see today of 0.0035 - 0.0040  i believe to be very cheap to what the next 12 months will bring. I would be very surprised if Eth was not double its price by them and most likely be trading solid around 0.01.

One thing is for sure, along with my I/OCoin, i am building up the biggest bag possible of Eth and holding long term 2+years minimum, buying on all the dips!

+1 ETH is a long term coin, x10 in 1 year very possible IMO.

5 Million of Coloured Diamonds Launched Under PinkCoin, Worlds First Diamond Backed Crypto Currency built on Ethereum http://goo.gl/4alIu0

https://www.youtube.com/watch?v=utmnexPw1bY
5 Reasons to Build Decentralized Apps

true , but i think its because they need to test...before they use the public chain, which should be more secure.
Richard Herbert, chief information officer, global banking and markets, at HSBC, said: "The new R3 globally accessible lab environment is enabling both R3 and member banks to collaborate technically on experiments related to shared ledger and smart contracts technology. As demonstrated by the first project that is already up and running, this lab platform will aid faster experimentation, provide technical agility and aid learning greatly."

Alex Batlin, UBS senior innovation manager, added: "Proving the scale and peer-to-peer operation of blockchain experiments is an important next step in this transformational initiative. Through connecting 11 bank labs into a simulated-real-world network, we're able to establish the platform we need to test our theories effectively in a safe environment."

Banks using eth to issue their own current currencies as digital tokens and contracts with safety, cost reduction, private transactions and eventually speed of blockchain, makes sense to me.

I actually had some questions about scaling because of AnonyMints analysis about Ethereum. I started a thread on Ethereum Reddit asking this question to the community. Chris, who is a developer for Slock-it replied by providing me with a couple of videos from Devcon1, where Vitalik addresses these issues. After watching the video I discovered they are trying to scale ETH with a technique called sharding. This was the remark I made...

So the solution is to make it asynchronous through Merkle tree receipts? Transactions having access to Merkle roots from previous blocks, and reading the previous global state root. Which doesn't modify anything globally, but just reading a historic root. Which doesn't prevent parallel computation? Again, not an expert, just trying to understand if there is a solution on the horizon. Thanks again.

AnonyMint replied...

Afaics, none of these directions Ethereum is headed deal with the economic issue I outlined in my first post in this Reddit thread:

https://www.reddit.com/r/ethereum/comments/41a3nb/is_anonymint_correct/cz0r3d5

As for their scalability ideas (which again do not address the economic problem of inequality of gas fees I outlined), they are going down the same throught process that I went through in my analysis of how to scale a consensus system. My thought process is far ahead of theirs, and they will later realize that what they have designed is a total failure. The reason is because the CAP theorem is violated by Proof of Evidence aka Proof of Cheating (which is also one of the reasons why Bitcoin's proposed Segregated Witness will fail). Refer to my decentralization thread in the Altcoin Discussion forum at Bitcointalk for more details of the relevance of the CAP theorem. I am not eager to drill down and convince them of this, because I don't want to give then my design.

In short, scalability requires centralization. I ultimately realized it is how the centralization is structured that allows for decentralized control. That was my key epiphany.



I respect AnonyMint, and the Ethereum Devs, so which one is correct? I have no clue. It is way above my pay grade. My bet is on Vitalik, but AnonyMints comments should have at least been addressed, rather than being called a scammer by some idiot who only cares about rainbows and sunshine.

If any other experts out there can shed some light on whether sharding is possible, or not... please chime in.

Here is a couple of links to the videos...

https://www.youtube.com/watch?v=-QIt3mKLIYU&list=PLgQrb_z7oTH4VHfW_ZCnNyzd5N9nULpvA&index=18
https://www.youtube.com/watch?v=1KaQsrqC94s&list=PLgQrb_z7oTH4VHfW_ZCnNyzd5N9nULpvA&index=20

And if any shills or bandwagon traders have a problem with my post because I asked a question and provided AnonyMints comments... piss off! Because the truth will come out either way. Better to know now, then to find out later. Like i said, more people need to chime in who have the skills. And that doesn't include you Spoetnik. Your posts about Ethereum are no different than a dog barking at the Mailman.  

Is it not the case that a private forked chain will be vulnerable because of its lack of hash power and its closed nature?  watch andreas antonopoulous taking about bubble boy on youtube. 

https://www.youtube.com/watch?v=810aKcfM__Q