Topic: Ethereum: 2nd gen cryptocurrency with contract programming, "dagger" hashing - page 11. (Read 84340 times)
January 20, 2014, 06:05:27 AM
i am in for project
January 20, 2014, 06:05:10 AM
It's rather interesting to see that >80% of the posts here discuss IPO and mining and very few posts discuss the interesting aspects like the scripting language or transaction logic, privacy, etc...
Greed!
Guys, this coin is not especially useful for getting rich quick and I predict you will have all the time in the world to buy/mine it if you want in the years after launch because of the linear inflation. There will be no halving of the reward, inflation in relative terms only goes down due to the increasing supply. This means miners in year 1 will get the same amount of coin as miners in year 20.
This coin is innovative technically and founders have chosen not to make early adopters extremely rich in the long run. Since this (early adopter unfairness) is often cited as a drawback of Bitcoin (envy) by newcomers and some economists, I think this could turn out to be a good decision... Interest in the coin seems to be high enough to get it going without exorbitant promise to early investors.
Well, let there be competition
Greed!
Guys, this coin is not especially useful for getting rich quick and I predict you will have all the time in the world to buy/mine it if you want in the years after launch because of the linear inflation. There will be no halving of the reward, inflation in relative terms only goes down due to the increasing supply. This means miners in year 1 will get the same amount of coin as miners in year 20.
This coin is innovative technically and founders have chosen not to make early adopters extremely rich in the long run. Since this (early adopter unfairness) is often cited as a drawback of Bitcoin (envy) by newcomers and some economists, I think this could turn out to be a good decision... Interest in the coin seems to be high enough to get it going without exorbitant promise to early investors.
Well, let there be competition
January 20, 2014, 05:59:39 AM
Is the initial price really 0.0001?
If so then if compare it with the current price of NXT 0.00006 it's straight away more expensive than NXT which has risen a lot since it's start. struggling to see the benefit of buying into the IPO, unless someone can tell me my maths are wrong.
If so then if compare it with the current price of NXT 0.00006 it's straight away more expensive than NXT which has risen a lot since it's start. struggling to see the benefit of buying into the IPO, unless someone can tell me my maths are wrong.
January 20, 2014, 05:59:19 AM
I think 10,000 BTC is a lot and won't be invested. So why there is need in 1.2T Ethers? Don't understand..
The idea is that the money supply increase (albeit very slow - look at the date on that 1.2T ether) allows latecomers to 'own' parts of the supply through mining and reduces capital centralization (simulating dilution).
January 20, 2014, 04:53:05 AM
Where do I see the details of the IPO?
January 20, 2014, 04:08:37 AM
I am not gettting this... As far as I understand that the total shares pre-launch (100M investors, 25M founders, 25M devs and 50M ethers) will be premined and spread before launch and all of them make a total of 200M.
So how after 1 year the total supply will be still 200M? That sounds like no ethers will be ever mined during the first year?
So how after 1 year the total supply will be still 200M? That sounds like no ethers will be ever mined during the first year?
In this example during the first year 50M ethers maximum will be mined.
January 20, 2014, 04:06:22 AM
it was just an example
there will be 1 eth per 0.0001 BTC invested
+25% founders pool
and so on ....
there will be 1 eth per 0.0001 BTC invested
+25% founders pool
and so on ....
January 20, 2014, 03:55:52 AM
Hi, few questions here:
1. How can I subscribe for the IPO and buy shares and does it start in 4 days? Is there a limit for the IPO (is this the total of 100M ethers for Investors)?
2. I read in the whitepaper that people who mine in the begining and in the future will mine same amount of coins. But this is conflicting with difficulty increase, can you confirm that early miners will no have any advantage at all over the later miners?
3.
I am not gettting this... As far as I understand that the total shares pre-launch (100M investors, 25M founders, 25M devs and 50M ethers) will be premined and spread before launch and all of them make a total of 200M.
So how after 1 year the total supply will be still 200M? That sounds like no ethers will be ever mined during the first year?
1. How can I subscribe for the IPO and buy shares and does it start in 4 days? Is there a limit for the IPO (is this the total of 100M ethers for Investors)?
2. I read in the whitepaper that people who mine in the begining and in the future will mine same amount of coins. But this is conflicting with difficulty increase, can you confirm that early miners will no have any advantage at all over the later miners?
3.
Quote
Investors: 100M Ethers
Founders pool: 25M Ethers
Dev bounty pool: 25M Ethers
Mining: 50M Ethers
Total after each year:
Year 1: 200M Ethers
Year 5: 400M Ethers
Year 30: 1.5B Ethers
Year 100: 5B Ethers
...
AD 26011: 1.2T Ethers
Founders pool: 25M Ethers
Dev bounty pool: 25M Ethers
Mining: 50M Ethers
Total after each year:
Year 1: 200M Ethers
Year 5: 400M Ethers
Year 30: 1.5B Ethers
Year 100: 5B Ethers
...
AD 26011: 1.2T Ethers
I am not gettting this... As far as I understand that the total shares pre-launch (100M investors, 25M founders, 25M devs and 50M ethers) will be premined and spread before launch and all of them make a total of 200M.
So how after 1 year the total supply will be still 200M? That sounds like no ethers will be ever mined during the first year?
January 20, 2014, 03:54:41 AM
I like the product, but really hate the price. Its 0.0001 BTC * 1.2 trillion = 120000000 BTC This is insane. I know that not all the coins will be available at start, but its wrong with many many zeros.
This way, it is a scam, with a little development behind it.
This way, it is a scam, with a little development behind it.
Forget the 1.2 trillion max coin limit - it's really not relevant. In the first year, 2X Ether will be released, where X is based upon initial price and the amount invested. Assume for a minute that 10,000 BTC is invested @ 0.0001 BTC / Ethers. First year:
Investors: 100M Ethers
Founders pool: 25M Ethers
Dev bounty pool: 25M Ethers
Mining: 50M Ethers
Total after each year:
Year 1: 200M Ethers
Year 5: 400M Ethers
Year 30: 1.5B Ethers
Year 100: 5B Ethers
...
AD 26011: 1.2T Ethers
It's really just a matter of putting concrete examples in the whitepaper so as to not focus on the hard limits of the system. My advice? Be skeptical, just keep an open mind and don't be locked into your initial reactions on things like the max coin limits.
I think 10,000 BTC is a lot and won't be invested. So why there is need in 1.2T Ethers? Don't understand..
Anyway. I don't understand about IPO. What the profit? Isn't it better to mine or to buy at lower price from miners? I'm sure that miner's price will be lower than 0.0001 BTC (at least I hope).
January 20, 2014, 03:34:00 AM
...
AD 26011: 1.2T Ethers
Yeah, but I would have mirrored my mind into a quantum computer by 26011. AD 26011: 1.2T Ethers
January 19, 2014, 11:46:58 PM
I like the product, but really hate the price. Its 0.0001 BTC * 1.2 trillion = 120000000 BTC This is insane. I know that not all the coins will be available at start, but its wrong with many many zeros.
This way, it is a scam, with a little development behind it.
Let me see... signed up in dec 2013, 27 posts and knowledgeable about mining PoW and PoS. A sock declaring that Ethereum is a scam.This way, it is a scam, with a little development behind it.
Perhaps you, the sock are the scam, please take your trolling elsewhere.
January 19, 2014, 11:41:23 PM
I should have advised Vitalik to remove the 1.2 trillion number from his whitepaper. WAYYY too much misunderstanding from that figure.
January 19, 2014, 10:58:31 PM
I like the product, but really hate the price. Its 0.0001 BTC * 1.2 trillion = 120000000 BTC This is insane. I know that not all the coins will be available at start, but its wrong with many many zeros.
This way, it is a scam, with a little development behind it.
This way, it is a scam, with a little development behind it.
Forget the 1.2 trillion max coin limit - it's really not relevant. In the first year, 2X Ether will be released, where X is based upon initial price and the amount invested. Assume for a minute that 10,000 BTC is invested @ 0.0001 BTC / Ethers. First year:
Investors: 100M Ethers
Founders pool: 25M Ethers
Dev bounty pool: 25M Ethers
Mining: 50M Ethers
Total after each year:
Year 1: 200M Ethers
Year 5: 400M Ethers
Year 30: 1.5B Ethers
Year 100: 5B Ethers
...
AD 26011: 1.2T Ethers
It's really just a matter of putting concrete examples in the whitepaper so as to not focus on the hard limits of the system. My advice? Be skeptical, just keep an open mind and don't be locked into your initial reactions on things like the max coin limits.
January 19, 2014, 10:41:37 PM
I like the product, but really hate the price. Its 0.0001 BTC * 1.2 trillion = 120000000 BTC This is insane. I know that not all the coins will be available at start, but its wrong with many many zeros.
This way, it is a scam, with a little development behind it.
This way, it is a scam, with a little development behind it.
January 19, 2014, 06:17:01 PM
If I understand it correctly:
The founders receive:
a) All the BTC raised via the fundraiser
+
b) Their share of Ether at launch
What about the product, is it still under development? What it the ETA for this.
Will there be a working prototype at launch, even if it is at the Alpha/Beta stage.
The founders receive:
a) All the BTC raised via the fundraiser
+
b) Their share of Ether at launch
What about the product, is it still under development? What it the ETA for this.
Will there be a working prototype at launch, even if it is at the Alpha/Beta stage.
January 19, 2014, 06:14:31 PM
What exactly does a mastercoin style (exodus address) fundraiser entail?
Everyone sending their Bitcoin to an address controlled by the founder/developer. January 19, 2014, 03:52:58 PM
What exactly does a mastercoin style (exodus address) fundraiser entail?
January 19, 2014, 03:28:10 PM
I am trying to study all these information and prepare for mining... Can you confirm that in 5 days only the IPO starts and not the mining?
How can I buy shares from the IPO?
Thanks.
How can I buy shares from the IPO?
Thanks.
Mining on livenet won't start for months.
Shares from the IPO will be available via website, similar model as Mastercoin fundraiser (exodus address)
January 19, 2014, 03:27:04 PM
What is the date of the Miami conference? Is it full already?
http://btcmiami.com/ - 25 & 26 jan, tickets still avail.
January 19, 2014, 02:54:11 PM
I am trying to study all these information and prepare for mining... Can you confirm that in 5 days only the IPO starts and not the mining?
How can I buy shares from the IPO?
Thanks.
How can I buy shares from the IPO?
Thanks.
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