Ethereum: 2nd gen cryptocurrency with contract programming, "dagger" hashing - page 27.

jimhsu

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Quote from: Anotheranonlol on January 14, 2014, 06:03:28 PM

Quote from: Come-from-Beyond on January 14, 2014, 05:27:29 PM

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)

Anotheranonlol

hero member

Activity: 588

Merit: 504

Quote from: Come-from-Beyond on January 14, 2014, 05:27:29 PM

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."

Racer8

full member

Activity: 150

Merit: 100

Quote from: k99 on January 14, 2014, 04:28:56 PM

Quote from: tgerring on January 14, 2014, 03:04:19 PM

Quote from: k99 on January 14, 2014, 02:15:06 PM

Quote from: charleshoskinson on January 13, 2014, 11:02:32 PM

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?

Come-from-Beyond

legendary

Activity: 2142

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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?

LeoC

full member

Activity: 154

Merit: 100

Quote from: BittBurger on January 14, 2014, 03:55:51 PM

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.

superresistant

legendary

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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 ?

Racer8

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Will a windows mining client be released prior to start of mining?

k99

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Merit: 255

Manfred Karrer

Quote from: tgerring on January 14, 2014, 03:04:19 PM

Quote from: k99 on January 14, 2014, 02:15:06 PM

Quote from: charleshoskinson on January 13, 2014, 11:02:32 PM

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.

asnghost

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Activity: 258

Merit: 250

Interesting, cant wait for further announcement

BittBurger

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 ...

tgerring

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Activity: 142

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Hive/Ethereum

Quote from: k99 on January 14, 2014, 02:15:06 PM

Quote from: charleshoskinson on January 13, 2014, 11:02:32 PM

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

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Activity: 346

Merit: 255

Manfred Karrer

Quote from: charleshoskinson on January 13, 2014, 11:02:32 PM

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, ...).

currencydebt

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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?

tgerring

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Hive/Ethereum

Quote from: organizer on January 14, 2014, 08:46:51 AM

Quote from: delulo on January 14, 2014, 06:43:04 AM

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.

Ursium

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Ethereum

Thank you Charles and sorry I messed up your name in my post! Grin

organizer

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Quote from: delulo on January 14, 2014, 06:43:04 AM

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?

delulo

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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?

klee

legendary

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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.

MsCollec

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Is there any live feed from the conference holding in Miami?

lightcoin

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Quote from: bitme on January 14, 2014, 05:26:52 AM

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

Topic: Ethereum: 2nd gen cryptocurrency with contract programming, "dagger" hashing - page 27. (Read 84312 times)