Topic: [ANN] Ethereum: Welcome to the Beginning - page 1292. (Read 2006003 times)

I forbid anyone to invest in this bullshit. ETH is 1 step above from being a heist.

Question for the founders:

What will Matthew N. Wright's involvement in Ethereum be?

I think the situation with Ethereum the same. IPO could end next day, 2nd of Feb, if someone with IGS (incurable greed syndrome) invests 29500 BTC. So people many disappoint not get coin any...

*Following*.

Care to show where exactly BCNext asked for 21 BTC? From what I see, the fundraiser was abruptly and unexpectedly cut in the middle, with interested investors left overboard, having to buy in later on much higher valuation (which contributed to explosive speculative growth).

After this case, I much support and prefer any public project with clear and well communicated deadlines.

it seems some people underestimate the project size and real goals ethereum is after for.
this is not a currency, looking at it as it if were, gives a wrong perpective what is going
on here. ethereum tries to built a global, decentralized financial grid layer, populated by
semi autonomous code-reactors, hibernating within the blockchain until wakeup and acting as
more or less maintenance free financial servants when feeded with the appropiate value.
and you wonder why some old school entities are more than interested in this tech?
the first mover, able to access a global finance api (boiled down to what it is) gains
huge profit margins. a 30m usd invest is nothing compared to those margins but this tech
raises some other important questions, besides the pure tech ones.

as a nxt deveopler i am working on a similar approach but with a focus on decentralized
applications and there is a good change nxt will run the first usefull prototype within
the blockchain in a couple of weeks. but as mentioned above, applications should serve
all users, not only entities with the biggest pocket, again leading into islands of
centralization within a dezentralized meta-structure. this makes no sense.

the concept for sure is very interesting. i don't intend to invest but watching
this tech attentive, because it is clear the way to go, at least from my pov.

Bitcoin inflation (and Ethereum apparently) will eventually stop. Fiat money never does.

Ok, thanks. Pretty important that this gets pointed out.

If you bought right after the genesis block at 0.000001, it'd be worth 0.000085/0.000001 = 85 = 8500% increase in price.

So the initial stakeholders actually made most of their gains after the fundraiser... which meant that NXT was already released and anyone could buy in with less risk.

Klee, would you mind saying ratios of your investing into Mastercoin, NXT, BitShares and Ethereum?

I have no agenda behind this other than to get another perspective for my own investing.

Wait, aren't miners the ones "printing" the money?  How is bitcoin mining different from Ethereum mining in that sense if the Ethereum inflation goes to the miners?

It actually decreasing.

1.5X + 0.4X per year
So:
Year 1: 1,5X
Year 2: 1,9X  (26% increase)
Year 3: 2,3X  (21% increase)

and so on. Until it gets near 0% in the distant future.

"The linear inflation rate has been reduced to 0.4*X per year"

Correct me if I'm wrong but x% per year is not linear, but exponential. Only those who can obtain inflationary currencies first (as they are printed) gain from inflation. Everyone else is impoverished. It's no wonder GS are interested in this project. Satoshi knew the dangers of inflation and designed bitcoin so we could escape this slavery. I'll be staying away from this one.

There is a significant amount of code out there, they already are working on implementations in several languages.

https://github.com/ethereum

I don't know where Ethereum will go, but this is not just a whitepaper and it is not just vaporware.

It would definitely help if the Ethereum folks could present a real-life example of how this will work.  They are speaking too much in hypothetical and theoretical concepts.  As if trying to be-all and end-all in developing the platform/infrastructure/scripting/etc. for crypto-currency 2.0 when there hasn't been any proof-of-concept that can be shown off.  To me, all their pitches are in the ethereal world.

In the above examples, I think these are conditional orders and not contracts.  A contract is between two entities or people -- i.e. an agreement.  For example, a futures contract for soybeans/oil/gold/etc. traded on exchanges such as CME/CBOE is a standard contract that can be traded.  It's terms are known beforehand because they are standardized -- fixed amount per contract, fixed delivery amount, fixed periodic delivery date, etc.

I believe this is what they mean by contract.  And what they are trying to do is to remove the middle-men (e.g. CME, CBOE) with a decentralized approach.  But I'm not 100% sure because of they give no concrete examples -- i.e. in the intro video.

I suggest they crank out a proof-of-concept example/prototype or at least state the first application they want to implement once a good chunk of Ethereum is completed.  Much easier for folks to wrap their minds around a real example rather than via concepts that seem extremely difficult (in my mind) to integrate.

Bcnext asked for 21 btc for the lot and he got the 21 btc and consequently closed the IPO. if he had carried on selling nxt coins even past the 21 btc goal he would have screwed the ones who had invested thinking the 21 btc would buy the whole pie. for example if someone had invested 1btc thinking he would get around 450k of nxt....selling nxt even past 21 btc it would have screwed that investor as his share would be much less than what he had agreed into.
having said that me too i prefer an IPO which is open from day A to day B , with no cap and and which gives everyone time. but that also means it's an investment where you don't actually know how much % of the total thing you are buying as it will all depend on how many invest etc.

Genesis block was still under construction the next day according to posts in NXT thread. Indeterminate when it was started, but if the coin that went in while I was waiting for an answer was included, then mine could have been as well.

Again, the math: presale price = 21 BTC/1,000,000,000 NXT = 0.000000021
                       price when first offered in NXT sale thread = 1,000,000 NXT/BTC = .000001

                      .000001/.000000021 = 47.62 = 4762% increase in price

Ha ha!  Priceless....

He's too much fun to ignore. Besides, maybe he'll help reduce the dilution in Ethereum by scaring off a few people off.

When I asked when was the deadline to invest in NXT while it was still open, it was suddenly closed without any advance notice, and I was not allowed to invest in it. The deadline was not clear in the announcement, but most people, including myself, thought it was January 3, 2014. The genesis block was not created yet. It is very clear to me that they did not want any further dilution of existing investment, though no one will admit this. If there was some technical reason for ending the pre-sale early without advance notice, they could have just said something to the effect of "We are closing the sale now, so if you want to send in your Bitcoin you need to do so within the next X hours." They did allow another coin in which was sent while I was waiting for an answer. A week later, NXT was being sold at a 4762% markup over the presale price.

The presale of Ethereum, like that of Mastercoin, is very well defined with a clearly defined period of investment, and in the case of Ethereum, a clearly defined limit on total investment. NXT, on the other hand, was arbitrarily closed at the convenience of the founder with no advance warning, and not everyone who was interested was allowed to invest.