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Topic: Ethereum: 2nd gen cryptocurrency with contract programming, "dagger" hashing - page 27. (Read 84340 times)

sr. member
Activity: 364
Merit: 264
From http://wiki.ethereum.org/index.php/Dagger:

Quote
...In the context of mining, however, botnet-infected computers tend to be running older operating systems and have weaker specifications, meaning that they will have a much lower performance and impact on the network than their size might initially suggest.

...
...
...

...And even in such an equilibrium, mining with ordinary CPUs will likely continue to be practical.



So we have such a formula for mining power:

numberOfZombieComputers * X = numberOfLegitMiners



Question:

What is ur assessment of X value?

it start with "0."

X = [0,1)
hero member
Activity: 588
Merit: 504
From http://wiki.ethereum.org/index.php/Dagger:

Quote
...In the context of mining, however, botnet-infected computers tend to be running older operating systems and have weaker specifications, meaning that they will have a much lower performance and impact on the network than their size might initially suggest.

...
...
...

...And even in such an equilibrium, mining with ordinary CPUs will likely continue to be practical.



So we have such a formula for mining power:

numberOfZombieComputers * X = numberOfLegitMiners



Question:

What is ur assessment of X value?

it start with "0."
full member
Activity: 150
Merit: 100
The buy in will be in the millions and the expected market cap is in the billions.

Charles could you answer the following question?
Who will receive the Bitcoins the fundraisers spent to buy Ether? The founders? The organisation? Will they be locked/destroyed? I assume the founders and/or organisation, but I guess it would be good to clearify that part, just to be transparent. Another option could be to spend it to a group of NGOs (Wikileaks, EEF, ...).

Already answered: https://bitcointalksearch.org/topic/m.4502149

Sorry did not find any clear answer there. Did you referred to that statemnet from Charles?
"We took this a step further and came up with some innovations in the trust model we think that the community will like. I won't spoil it yet"

Just to be clear. I did not ask for the issuance model, that is clear to me. I was just wondering who exactly will receive the BTC I will spend to buy fundraising Ether.

+1.  Question not answered anywhere I can find.  Do the founders get 0.25X Ether plus the bitcoins?
legendary
Activity: 2142
Merit: 1010
Newbie
From http://wiki.ethereum.org/index.php/Dagger:

Quote
...In the context of mining, however, botnet-infected computers tend to be running older operating systems and have weaker specifications, meaning that they will have a much lower performance and impact on the network than their size might initially suggest.

...
...
...

...And even in such an equilibrium, mining with ordinary CPUs will likely continue to be practical.



So we have such a formula for mining power:

numberOfZombieComputers * X = numberOfLegitMiners



Question:

What is ur assessment of X value?
full member
Activity: 154
Merit: 100
PS:  TacoTime - can i ask why you felt it was appropriate to put up an announcement thread for someone elses company, and project?  As per several comments by Charles in this thread, this has contributed to numerous headaches for them, as they were not quite ready to make this public.  I think it would have been more professional to request permission to put them "on blast" like this ahead of schedule.  Then again you did say you are a competitor ...

He did it simply to raise awareness. Also you are being a hypocrite by continually bumping this thread. There hadn't been a post for nearly an hour until you did. If you want to stop causing "headaches" then stop posting and gtfo.
legendary
Activity: 2156
Merit: 1131
Right now there is this huge wave of second generation crypto-currency.

The battle will be hard. Getcha popcorn ready.

EDIT : Actually, Etherum is not really a 2nd gen crypto right ?
full member
Activity: 150
Merit: 100
Will a windows mining client be released prior to start of mining?
k99
sr. member
Activity: 346
Merit: 255
Manfred Karrer
The buy in will be in the millions and the expected market cap is in the billions.

Charles could you answer the following question?
Who will receive the Bitcoins the fundraisers spent to buy Ether? The founders? The organisation? Will they be locked/destroyed? I assume the founders and/or organisation, but I guess it would be good to clearify that part, just to be transparent. Another option could be to spend it to a group of NGOs (Wikileaks, EEF, ...).

Already answered: https://bitcointalksearch.org/topic/m.4502149

Sorry did not find any clear answer there. Did you referred to that statemnet from Charles?
"We took this a step further and came up with some innovations in the trust model we think that the community will like. I won't spoil it yet"

Just to be clear. I did not ask for the issuance model, that is clear to me. I was just wondering who exactly will receive the BTC I will spend to buy fundraising Ether.
sr. member
Activity: 258
Merit: 250
Interesting, cant wait for further announcement  Smiley
hero member
Activity: 924
Merit: 1001
If there will ultimately be 1.2 Trillion Ether .... then :

1)  Someone would have to be holding 60x as many ether coins as they do Bitcoins, to be holding the same percent of the pie.

2)  In my short experience with cryptos, the more there are, the less valuable they will be, per coin, in the long run.  

Meaning you'd probably need orders of magnitude more than #1 above to see any real ROI.

This coming from a guy who failed most math classes he took (me), so feel free to correct my logic.

-B-

PS:  TacoTime - can i ask why you felt it was appropriate to put up an announcement thread for someone elses company, and project?  As per several comments by Charles in this thread, this has contributed to numerous headaches for them, as they were not quite ready to make this public.  I think it would have been more professional to request permission to put them "on blast" like this ahead of schedule.  Then again you did say you are a competitor ...
full member
Activity: 142
Merit: 100
Hive/Ethereum
The buy in will be in the millions and the expected market cap is in the billions.

Charles could you answer the following question?
Who will receive the Bitcoins the fundraisers spent to buy Ether? The founders? The organisation? Will they be locked/destroyed? I assume the founders and/or organisation, but I guess it would be good to clearify that part, just to be transparent. Another option could be to spend it to a group of NGOs (Wikileaks, EEF, ...).

Already answered: https://bitcointalksearch.org/topic/m.4502149
k99
sr. member
Activity: 346
Merit: 255
Manfred Karrer
The buy in will be in the millions and the expected market cap is in the billions.

Charles could you answer the following question?
Who will receive the Bitcoins the fundraisers spent to buy Ether? The founders? The organisation? Will they be locked/destroyed? I assume the founders and/or organisation, but I guess it would be good to clearify that part, just to be transparent. Another option could be to spend it to a group of NGOs (Wikileaks, EEF, ...).
newbie
Activity: 63
Merit: 0
This sure sounds like it could be the next big thing, looking forward to learning more. How did you arrive at the IPO price of 1 ether = .0001 BTC?
full member
Activity: 142
Merit: 100
Hive/Ethereum
Regarding the "ether business model". What exactly do you mean by "fee regulated and thus require Ether to function" (see your post above)? How exactly does that work?

Again, this shit is waaaay over my head, but what i read that to mean is maybe like the transaction fees we already pay to send coins from our wallets?


That's my understanding.

Fee regulated = the network requires fees to operate and maintain (i.e. transaction fees, contract fees, etc). As I understand it, this is primarily an anti-spam measure, as otherwise looping contracts could be created which overwhelm the network.

Require Ether to function = I believe this is simply a nod to the point that Ethereum has an internal currency despite being able to build currencies atop. The paper states the currency (Ether) is to serve as both a mining reward and a mechanism for paying transaction fees.
full member
Activity: 149
Merit: 100
Ethereum
Thank you Charles and sorry I messed up your name in my post!  Grin
sr. member
Activity: 378
Merit: 250
Regarding the "ether business model". What exactly do you mean by "fee regulated and thus require Ether to function" (see your post above)? How exactly does that work?

Again, this shit is waaaay over my head, but what i read that to mean is maybe like the transaction fees we already pay to send coins from our wallets?
sr. member
Activity: 441
Merit: 250
Regarding the "ether business model". What exactly do you mean by "fee regulated and thus require Ether to function" (see your post above)? How exactly does that work?
legendary
Activity: 1498
Merit: 1000
Have not read the whitepaper yet but I would like to ask if it will support the above:

1) Totally anonymous minting for all coins (every client compulsory connected through Tor/I2P, like anoncoin)
2) Compulsory zerocoin/coinjoin like mixing in the blockchain
3) Client connecting only through Tor/I2P
(1,2,3 will prevent taint analysis -> possible fungibility loss)
4) Distributed ethereum/fiat exchange without trusted third party (holy grail) - OT I think needs a 3rd party.

Thank you in advance!

Good luck, we need as much diversity as possible.  Smiley
legendary
Activity: 1400
Merit: 1000
Is there any live feed from the conference holding in Miami?
newbie
Activity: 19
Merit: 0
The question is how many will be issued through IPO and how long it takes to generate more ethers after IPO. That trillion may be achieved in 1000 years

From the "Currency and Issuance" section of the whitepaper linked in the OP:

Quote
The issuance model will be as follows:

Ether will be released in a fundraiser at the price of 1 ether for 0.0001 BTC. Suppose that X ether gets released in this way.

0.25X ether will be allocated to the founders in a time-lock contract that prevents the founders from spending it for one year.
0.25X ether will be allocated to the Ethereum organization as a reserve pool to pay expenses in ether such as ether salaries or bounties for those developers who want part or all of their compensation to be in this form
0.5X ether will be mined per year forever after that point
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