Topic: Ethereum: 2nd gen cryptocurrency with contract programming, "dagger" hashing - page 19. (Read 84312 times)

I'm not getting then verification email. Any help?

I am interested in understanding this myself. It looks like the most talked aspect of the coin is the issuance, the IPO/fundraiser + mining + founder stakes make this the first PoW IPO. It's an attempt to ensure that coin distribution is more spread out and over the years the percentage held by large addresses should diminish. Lock-in for founders makes this slightly different from pump-and-dump - i.e. devs have a vested interest for at least 12 months, also the algo is claimed to be ASIC resistant (I think) thus giving smaller people like us a chance to mine something and thereby increasing the chances of a distributed environment. There are several other features that are listed but we haven't seen them implemented by any of the second generation coins, for example colored coins, decentralized exchanges, sub currencies, contracts and so on.

If you participate in the fund raiser you are essentially accepting that these features will be implemented sometime in the future, thus endowing good faith in the devs led by a couple of known cryptographers based on their protocol philosophy. How much you buy will be entirely based on your risk appetite keeping these factors in mind.

So, as a novice hobbyist, I am still very interested in this coin (?), so i'll throw this out there. In business you're often asked to prepare and give someone the "elevator pitch", which might be about 30 seconds worth of bullet points. So someone give this to me, what is the "elevator pitch" for this coin?

Is it a bitcoin killer? What does it do that other coins don't (is it the notion that you can leverage mining power into real-world applications/computations?)

But it looks "super fair" for the founders.

Talking about Nxt. The coin launch was very unfair according to most of people but it doesn't stop the currency from succeeding (until now).

That sounds very snapshoty from you, given the fact that you (I quote) "haven't followed NXT stuff"

Yes that's the problem : the more you try to make a coin fair (which is impossible IMO), the less interesting it is for investors.

What we have here is a complicated coin repartition that aim for fairness in the long term.

That does sound very scammy from NXT. I haven't followed the 'NXT' stuff though.

As an investor, you're looking to gain something from your investment, not for it to depreciate.

As the things stand currently - looks like there's a lot of risk that you won't gain.

This turned to a debate of how to make a coin launch fair ? What is fairness is the first place ? Can money be fair at all ?

After some quick research, it appear that fairness is related to social justice.

Is it the role of cryptocurrency to solve inequity ? Can a cryptocurrency bring social justice ?

Aren't you guys trying to solve the impossible ?

Hello swartzfeger, what do you mean by 'dedicated' client?

If I understand correctly, that's a theoretical hard cap, its highly unlikely that there will be 1.2 Trillion ETH in circulation and will depend largely on the fundraiser. What's the possibility of them raising such a large number of BTC that doubles up in the first year and over a period of years of mining reaches a trillion?

Mathematically how much 'X' would you need to raise to reach 1.2 trillion ETH in the foreseeable future after combining fund raiser, founder share, org share, mining over a period of Y years? We should be able to determine both X BTC and Y Years.

 

1.2 Trillion (doesn't matter if not from the get-go) for a higher price that NXT. You gotta be kidding us.

Create a thread a post here the link. This thread is about Ethereum.

Thanks for the link, always glad to learn something new here.

From what I see, it applies to finite finish values, while NXT (I hope) is planned to be an ever existing currency.
So how exactly it applies to NXT forging?

sooooo does that slasher algo idea mean you are going to pos now?

Ur logic fails the same way as http://en.wikipedia.org/wiki/Zeno's_paradoxes#Achilles_and_the_tortoise

While you correct about having 1% of the total funds out there, note the Transparent Forging:
http://www.thenxtwiki.org/wiki/Transparent_Forging

Which in nutshell means that the genesis investors holding the majority of NXT, will also get the majority of transaction fees coins. In long run most of the transactions will pass through the genesis investors, making them a Visa / PayPal (?) of sorts, and continuing growing their holdings without any additional investment from their side.

Compare this to BTC, where ASIC's arms race forces the miners to continuously invest more of their gains back into ASIC mining, thus distributing the network and making it more secure.

By the way, note that such feature (inherently unfair to anyone joining after genesis) was again - added at will of the genesis investors. If a similar feature was put to voting say in MSC protocol, I'm not sure at all it would pass, due to the distribution:
http://mastercoin-explorer.com/addresses



While you may have a point about IPO price or getting back to ASIC dependency, as long as Vitalik and the team do not create artificial shortage by breaking on their own announcement (which exactly what NXT did), a much larger amount of people have a fair chance to join the IPO early, and spread the gains proportionally. And if the IPO is not attractive - well there are other 2nd gen options which are being launched these days or will be launched soon enough.

Ursium, any chance of a dedicated client? Everything went fine up to the gmp install, but I don't think my ethereum install went as planned.

Fine, thx.