Topic: [ANN] Ethereum: Welcome to the Beginning - page 1305. (Read 2006003 times)

What am I missing here? All I'm seeing is a bunch of smart guys that have figured out a new technology to sell people on investing in their computer generated monopoly money printing technology.  As a trader of coins, I keep hearing every avid tech guy on chats and message boards tout their technology.  You know what?  Nobody gives a shit outside of the programming tech nerds.  We only care if it will make us money in the short term.  All these coins have a short life span outside of Bitcoin.  You know what is most important to people who will actually use these coins?  Anonymity and Liquidity, Liquidity, Liquidity.  You can take all the tech of the ten thousand different coins and none of them will be worth anything if you can't buy ten million and cash out ten million in a day.  But somehow this coin is worth 36 million in pre-sale along with salaries and 50% pre-mine?  Frack that, there are new coins that return 20x investments in a day with decent dev support, this one will be no different from the others.

And who are all these guys that are interested in this coin and the underlying technology?  I'm sure if I read through it thoroughly, I will be impressed with the tech, but c'mon this is just another specially designed coin to make the founders rich with no risk.  Will I trade the coin if it does well initially? Yes, but I will dump it as soon as it reaches its peak , just like every other coin not named bitcoin does eventually.  Trading this coin is probably smart, but fracking dumping 36 million plus 50% premine into their laps from day one is just dumb.  There are plenty of coins with great dev support that don't ask/beg people disguised as an IPO (LMAO) for their money for a new tech coin.  I don't care if Obama designed the coin, it's just idiotic to hand over 36 million and 50% pre-mine to a bunch of strangers just because they have a new tech coin.  Coins are worth something because they are liquid and can be transferred from one person to another.  This, my tech is better than your tech is a war being fought by tech nerds trying to make money off of people while crypto coins are hot.  In three years the coin fad may be over and all these altcoins with superior tech will all be gone.  

I can accept a few million IPO and a small percentage pre-mine but 36 million and 50% pre-mine?  They are just beating everybody with a stupid stick and trying to get rich without any risk.  How about a change of pace and they personally invest 36 million of their own money and then take 50% of the pre-mine at least they would have some skin in the game.  THey want to get rich before the coin even starts and trying to disguise the greed as an IPO.  Trade and invest in the coin, but frackin don't give your goddamn money away just because they say so.

I didn't even read anything. The pretentiousness is staggering. Have you heard of BTC? Welcome to the Seconding. Maybe.

But good luck, eh. Ethereum piqued my interest before this but I'm felling cheeky.

I am a new one and I am lucky to see the begining

invest in mining and buying from miners lollllll.... hm what about NO!
I prefer to support the developers directly than pay feckless miners sitting on their ass while their useless dirty machines (they don't serve any other purpose) waste our precious energy resources and pollute our planet and become an ever increasingly menacing centralized presence that could hold us at ransom (mining corporations could well be the evil banks/energy companies of the future, with increasing fees when rewards will run scarcer)
in 2014 miners are not even needed anymore as a crypto-network can be secured and transactions completed all through ProofofStake technology(proven in Nxt despite what the naysayers say, and its network has been under attack 24/7 and still going). and all running from end user devices (no need for your asic datacenters or gpu rigs).
miners are a totally useless and detrimental category of greedy vocal trolls which now come as an unneeded baggage from the bitcoin days,.
miners have become the main problem in bitcoin if you haven't noticed. with network energy consumption ever increasing and the mining becoming increasingly polarized.
http://www.bitcarbon.org/introduction.html (skip the global warming BS and read the footprint calculations....3x worlds total if it is to become the worlds currency)
and bitcoin's PoW wasn't even fair distribution cos early miners who got an early sniff (those from the cryptomailing list) got tons and ppl who farmed later only got crumbles, and is not evenly distributed 5 years later: with 50 ppl owning more than 30% of toatal bitcoins. . at the end of the day it will be the free market the main force responsible for distribution, as always.
NXT which was "unfair IPO bullshit omfg?" after only 2 months is already more evenly distributed than bitcoin is. just goes to show PoW failed all round.
miners now are just some sort of middle men which grabs the early coins and sells them on exchanges for an high price. nothing more.

be happy that there's any PoW at all in Ethereum ...it is basically just there to give you some free biscuits for doing nothing of real value. just something to keep miners happy.
vitalik thinks some mining makes the system more robust (i disagree) and is good for PR (as the mining community is huge and he might not want to get on the wrong side of them).
imo the PoW parts is just a waste (although the dagger mining should be more efficient and less prone to centralization than what we seen so far in PoW)
you mining community need to switch to investing (creating opportunities) as it is a more worthwhile job than mining (destructive by definition). mining WAS needed for crypto 5 year ago when the only crypto technology available (bitcoin) required it.....it is not needed now anymore. move on.
if you wanna keep mining and pump and dump coins with  PoW you got a huge selection of coins to choose from. you don't need ethereum...you got all those bitcoin/litecoin clones to last you a lifetime .the true scamcoins have become the miners-coins. just new names and logos with no technology innovations for pumps and dumps on exchanges.  this is the reality of current miners coins.





 

intersting. looking forward to Feb 1st.
I suggent there should be some investment limit to ensure fair distribution.

hype hype hype 

never it will get to Bitcoin's level, it's just yet another coin, and the one more like ripple.

It seems many people are confused by the bold titles being used in the opening post (see below)... I know I'm not 100% clear, so might as well ask.


... Since you used different terms; for example: "Early investors", "Early stakeholders" and "Fiduciary Members", are we to conclude that these are in fact completely different parties? Specifically, can you please clarify the differences between each and also which one of these are you characterizing as the ones that participate in the crowd funding that may (combined) contribute up to a total of 30,000 BTC? Typically a "fiduciary member" represents a legal entity, so I'm assuming this would exclude the individual crowdfunders, but I just want to triple check on all this.

TL;DR:  We need absolute clarity on whether the individuals participating in the crowd funding will have their Ether's tied up for 3 years (1/3 release per year) or whether they are able to trade their ether's for BTC or other cryptos immediately after the coin is launched.

Thanks!

IPO AND PREMINE?

Seems Quite Ambitious, But Interesting Enough That I'll Follow The Progress . . .
 

Hey guys, am I late to ask questions? I admit I didn't read much except first post.

1. What if you 30k funding goal is reached within a week? 2X ether for everyone?

2. What kind of inflation you're talking about? You evenly distribute 4% new ether to every investor every year? Or, you keep it?

3. Is total ether (X) ever going to be a problem? 30,000 BTC » X ether; X = 30 Million, or 30 Billion ether.

All the best.

I'm in.  Good luck all.

From what I've read they plan to build a higher level language on top of it, but that for now they're going to implement a C-like language. I'm not satisfied they can implement first class functions in any reasonable capacity with their current bytecodes. It's just a bytecode scripting language, just like Bitcoin has, but with arbitrary jumps to support loops which per my other post, opens the door to a lot of problems, which I'm not satisfied they've solved... (yet?)

Did Bitcoin copycats and even coins with vast improvements ruin the investment of the "good guys"?

pretty cool project def. will be watching this one ! 

Could you please anwser the question I quoted.

Say I invested 1 Btc and received 1000 Ether. I won't be able to sell them withing the first year after IPO is over. And each year after I won't be able to sell more than 333 Ether a year. Is that right?

just looked at some of the codebase

It looks like assembly....

scriptcode_map = {
    0x00: 'STOP',  
    0x01: 'ADD',
    0x02: 'SUB',
    0x03: 'MUL',
    0x04: 'DIV',
    0x05: 'SDIV',
    0x06: 'MOD',
    0x07: 'SMOD',
    0x08: 'EXP',
    0x09: 'NEG',
    0x0a: 'LT',
    0x0b: 'LE',
    0x0c: 'GT',
    0x0d: 'GE',
    0x0e: 'EQ',
    0x0f: 'NOT',
    0x10: 'MYADDRESS',
    0x11: 'TXSENDER',
    0x12: 'TXVALUE',
    0x13: 'TXFEE',
    0x14: 'TXDATAN',
    0x15: 'TXDATA',
    0x16: 'BLK_PREVHASH',
    0x17: 'BLK_COINBASE',
    0x18: 'BLK_TIMESTAMP',
    0x19: 'BLK_NUMBER',
    0x1a: 'BLK_DIFFICULTY',
    0x20: 'SHA256',
    0x21: 'RIPEMD160',
    0x22: 'ECMUL',
    0x23: 'ECADD',
    0x24: 'ECSIGN',
    0x25: 'ECRECOVER',
    0x26: 'ECVALID',
    0x30: 'PUSH',
    0x31: 'POP',
    0x32: 'DUP',
    0x33: 'DUPN',
    0x34: 'SWAP',
    0x35: 'SWAPN',
    0x36: 'LOAD',
    0x37: 'STORE',
    0x40: 'JMP',
    0x41: 'JMPI',
    0x42: 'IND',
    0x50: 'EXTRO',
    0x51: 'BALANCE',
    0x60: 'MKTX',
    0xff: 'SUICIDE'
}

so some one can come along and make a higher level language on to of this....

and looks like your going to be running a local server ala pywallet in a browser to use all of this?

"It's not an altcoin, it's a platform for thousands of altcoins."

...except you need ETH to make anything in the system work. So it inevitably becomes the de facto currency of the world in an Ethereum success scenario. XRP all over again.

To be clear I am very excited by the project goals. I just wish people would get past ridiculous premines as a way of funding their projects. If you're a dev and want incentive to work, invest big in mining or purchasing from miners at the start. If Ethereum succeeds you'll have millions or billions without question.

it looks like programable master coin

where are all the services that need this scripted language that painfully demonstrate this need now? please give examples.

ok what you are doing is not a decentralised exchange only a partial one see
https://bitcointalksearch.org/topic/m.4669283


A true Decentralised trading  requires

[1] a decentralised core trading systems (Ethereum appears to do this part)

[2] Plugins that can interface with various banking systems, individuals in various countries will write these for local requirements, that allow fiat to be sent and received at will without a banks ability to prohibit or detect. Ethereum is not doing this part in any shape of form, all though a programable language might go a long way to allowing its development.


 
so you give half of it to yourself! plus all the BTC you get. PeerCoin DEV refused to even accept donations yet alone premine and went round buying his own product.....Merits of the IDEA should would be much more impressive, that you can rely on them.



what percentage do these services swallow. Lawyers/accountants for 3 years are expensive




so this hard cap pressure people to get in early or miss out combined with the decay.



How does that work ROI on works if your holding value goes up. Do the extra coins go to holder, eg minting or emunie style? Otherwise the formula you gave is about money supply not ROI.

So PeerCoin....
[/quote]
Ok so just doing my DD.

The idea of a and lets just call it a programable language (turing complete is a bit sales fluffy), is it object oriented? I imagine it will be like Javascript?

What the advantage of embedding small amounts of data in a block chain and having programs that run locally act on these bits of data, thus keeping computing client side to do things separate from the data side...or is this what you are doing? ( ithink it almost must be waht you are doing)....

If so, would you solution be immediately transferable to any existing blockchain?