Topic: [ANN] Ethereum: Welcome to the Beginning - page 1133. (Read 2007090 times)

I am not going to doubt the ethics of the Ethereum developers.  I don't think they are unethical, I just don't think they had enough foresight to realize that if you put this project into the hands of the "community" with such a high inflation rate, there is little reason for anyone to hold the currency.  You need stakeholders and currently the protocol penalizes new stakeholders heavily.  This means people are going to jump ship and not many will want to get onboard knowing their investment will be debased.

They never showed the public any receipts of where the money went.

Guys, this isn't very difficult to wrap heads around.  Currently, most cryptocurrencies can be divided down to 8 decimal places of resolution.  This means you don't need high inflation because every single unit itself is a currency measurement.  Satoshi knew this quite well and created Bitcoin with that in mind.

If you want high inflation then you need a robust economy to absorb the money supply.  That is certainly not the case with Ethereum at the moment... and it is entirely speculation if there will ever be a robust economy around Ether.

But exactly who got what and for exactly what work?  That article gives no specifics.

It will go below original purchase price at some point. It was always destined to. The biggest pump and dump in altcoin history by far. It may still be worth something eventually, buts it going to get A LOT worse before it gets better imo.

How the HELL did Ethereum run out of money?  $10 million wasn't enough? $15 million?   

VB is blaming it on Bitcoin price when ETH was one of the biggest entities suppressing that price!!

WHERE DID THE MONEY ACTUALLY GO?

Looks like the Goldman Sachs executives that pulled this one off did pretty good for close to zero work.

Quality of code aside, the finances of this project are a joke and an embarrassment. And VB's excuses are pathetic.

Well that's not fair IMO if you look at the toolset and infrastructure they have built it is pretty phenomenal.  Unfortunately the inflation rate is too high and the market capitalization is becoming increasingly hollow as there is obviously not enough buy support that can stabilize the value of the currency.   They could have used some of that $$ to hire a competent market analyst who could have told them this early on.

Buy walls are getting obliterated right now on this sudden realization.

Better fork the code and fix this ASAP.

Here is a third party evaluation of what you have done:

- You set up your own stack on AMZN.
- UI is garbage
- Helped a friend use your stack
- Planning to switch programming languages (because UI is garbage)
- Working for Ethereum
- Meeting up once a week to talk

That's an interesting characterization. We have released several updates to the code and made the Synereo node available for anyone to use as an AMZN AMI. A Docker container for the Synereo stack will be available soon. Additionally, we have created and checked in an updated version of the UI and gotten feedback on that. Beyond that we've helped LivelyGig get their stack together, which is coming along nicely, and relies on the Synereo stack. This will, in turn, provide the basis for the next version of the Synereo UI as we move away from Haxe and begin to use scala.js + react on the front end much more aggressively. Additionally, we have been working intensively to help Ethereum get Casper (their proof-of-stack protocol) to a point where it runs and people can play with it. You can follow all our checkins on all of these efforts on github. Beyond that we have held weekly community hangouts to communicate the results of each week's work and have conducted dozens of due diligence engagements with angels and vc's. That's an amazing 6 months of "no action". ;-)

Decentralization has no borders or companies

even worse, synereo is a israel company.

Just based on the algo I am keeping ethereum going! I have a few nodes running and I have faith in you guys! Hell if it drops to 25 cents I am still making a killing.... Also remember when online stores and products implement this cryptocurrency we will see a small drop too but that's a good thing!

Edit: Yes everyone please stop mining this coin... MORE FOR ME MWAHAHAHAHAHA

Because the Ethereum developers aren't experienced altcoin devs. This was their first altcoin. They have no connections in this industry. No one on the Ethereum team knew anything about how to launch a coin. They used a horrible difficulty adjustment algorithm. They had 0 pools at launch. They did PoW instead of PoS.

I have read the Ethereum code and it is quite basic. It's very similar to Bitcoin. I was really hoping for more from Ethereum but it looks like they just reinvented the wheel and added in a new feature. It's heavily over priced right now.

They ripped off people. I have no idea where that $18,000,000 went that they raised. This project could have been built for $2,000,000 and 8 programmers. They then premined a bunch of coins for the developers even though they got paid $18,000,000 already.

They should have gone PoW & PoS hybrid but they weren't smart enough to build such a thing. They now had to hire the guy who invented Synereo to help them make Ethereum better.




I could never recommend selling Ethereum if you own it because it has such big potential but I'm definitely looking for the next big project that can deliver on expectations. Synereo looks like the next big thing as of right now but after researching them more they are big supporters of NATO (No Action Talk Only).

Lets see a rebound now

ethereum.org.

Im a dev, where could i find info about service develop?

https://blog.ethereum.org/2015/09/28/the-evolution-of-ethereum/

"there are some difficult challenges that remain: some technical, some organizational, and some of almost every kind. The core of the problem is simple. Up until fairly recently, almost all of the work that has been done on the Ethereum project has been done by subsidiaries of the foundation. In the future, however, although the foundation and its subsidiaries are going to continue to take on a strong and leading role, it will be the community that will gradually be the primary driver in making it succeed. "

"First of all, it is indeed true that the foundation’s finances are limited, and a large part of this was the result of our failure to sell nearly as much of our BTC holdings as we were planning to before the price dropped to $220; as a result, we suffered roughly $9m in lost potential capital , and a hiring schedule that was meant to last over three years ended up lasting a little under two (although bolstered by a “second wind” from our ETH holdings)."

"The foundation and its subsidiaries alone simply do not have the manpower to push the entirety of this vision through to its ultimate completion"

"In the near future, there will be several more non-profit and for-profit entities emerging in and around the space, some with the involvement of Ethereum team members"

"a substantial number of Ethereum foundation subsidiary staff is going to be moving over to the rapidly growing for-profit Ethereum ecosystem"

too bad, site looked decent when i saw it initially.. glad i didnt use it and glad to know it wasn't truly secure.

stolen coins maybe?

I don't get it who is selling all their ETH.
ETH is 0.0025 now and heavy selling is going on.