Topic: Ethereum: 2nd gen cryptocurrency with contract programming, "dagger" hashing - page 28. (Read 84312 times)

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

That would be like saying Bitcoin's market cap is 21,000,000 x [current market price], and is inaccurate as only 12,260,800 BTC have been mined and thus are potentially available to the market at the time of this writing. Similarly, all 1.2 trillion ether will not be available to the market on day 1, so it's market cap will not be ~ $100BB upon release.

As the ether price at IPO is ~ 0.08 USD/ether, 1.2trillion ether means the market cap is ~ 100 billion dolars when launched! (10 times larger than bitcoin's)

Am I wrong?

Oh~ it will make founders as rich as Bill Gates in one night.

Watching...

I am learning a lot by reading all your comments guys, thanks a lot.

From Whitepaper, https://docs.google.com/document/d/1Mq4OLoDmMgfXpxhcuAPiV5KyNJr6_BO1FVptCXn5rr8/edit?pli=1 :

Ether will have a theoretical hard cap of 2¹²⁸ units (compare 250.9 in BTC), although not more than 2¹⁰⁰ units will be released in the foreseeable future. For convenience and to avoid future argument (see the current mBTC/uBTC/satoshi debate), the denominations will be pre-labelled:
1: wei
10^6: szabo
10^12: finney
10^18: ether
10^24: koblitz
10^30: turing

I calculate

2¹⁰⁰ = 1.26765x10²⁹ wei = 1.26765x10^29-18 ether = 1.26765x10¹¹ ether (126.765 billion ether)

edited to correct math error

Hi Charles -

1)  Will "ethers" (is that what they're going to be called?) be purchasable at the Miami conference?   Fortunately I live in Miami and will be attending.  
2)  I read on your site that the price will be 0.0001 BTC.   That works out to $0.08 USD (coinbase conversion).  Still true?
3)  Could you clarify what is the total # of coins there will be?   I read earlier in this thread 1,000,000,000,000,000,000,000,000 (at this point im just typing zeros).  This is an important question when determining how many coins should be purchased.  Whereas one may have a large ROI owning fewer coins on a cap of 21 million (BTC), one may have little to no ROI owning the same number of coins on a coin that has a cap of 10000000000000000000000000000000000000. 

Thanks

Kevin

Decentralized, peer2peer, trustless technology is what this is all about.

I intend to keep a closer eye on this project.

Be sure to watch cointalk

Excellent, looking forward to it. Trust is something in seriously short supply, especially currently.

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

Based on the several recent IPO "incidents" on these forums, will you consider a trusted escrow to hold your funds, releasing them for certain project milestones? I'm sure several are willing to volunteer their services (I won't, because I'm not trusted enough).

Services launched on ethereum are fee regulated and thus require Ether to function. More services, more fees, more need for ether to use them increasing demand. Ether like any other asset will only appreciate in value because of an increase in demand.

Consider ether like an ETF of everything done in the ethereum ecosystem. Applications would be specific companies in the portfolio. It's not a perfect analogue, but I hope it helps.

ROI is ultimately connected to the demand for coins and it is our belief long term that the utility presented will be significant thus driving demand. I suppose it will depend upon your time horizon and also market perception. Ethereum will not be transferable until mining begins and I would expect enormous volatility during the first few trading days; however, I reject the notion of immediate liquidation. Should the product be well formed it appears highly likely many people who missed or passed on the fundraiser will want to invest while prices are still low. My goal is not to make investors money immediately after mining begins. My goal is to offer a product that will have a healthy ROI over some reasonable period of time (say 6-12 months). The only way to accomplish this is to ensure the ecosystem is well developed and provides real value.


Website is still buggy. We didn't anticipate the public being aware until closer to Miami. Try again in a few days and sorry for the delay.


It's Charles and let's do these in order

We spent a great deal of time writing and testing PoC code and also examining the scripting language. As a cryptographer, my foremost concern is the security model behind our sandbox. There is risk in all technology, yet we are early enough in this process to change things in the event an unexpected failure of design occurs. GHOST is solid and we already have a spec for the high level language: http://wiki.ethereum.org/index.php/CLL. That said, long journey ahead.


The buy in will be in the millions and the expected market cap is in the billions. And yes this is correct, the price per ether does need to grow for returns justifying the risks of investment. Supply increases linearly whereas demand during the initial few years should be non-linear as large amounts of actors enter the market and new applications are discovered. The applications in Wall Street alone are fairly remarkable and we already have two quants working on the project writing up reference financial contracts that work on Ethereum.


We have a few models for how to handle founder shares. The design principles are to both incentive founders to stay attached to the project long term and also to inhibit any notion of a pump and dumb. Thus shares need to be locked for some period of time sufficiently long to prove the utility of the network itself. Second, the network needs to evolve to the point that the founders are no longer necessary for the long term health of the ecosystem just value adders. We could stagger lock outs or do a gradual release. When the fundraiser begins, there will be full disclosure how and why we decided to do this process


No, one shot and done. The purpose of the 0.25x developer shares is to endow a DAC to maintain the network long term after ether has a respectable market value. The fundraiser covers expenses up to that point.


There are five founders and the other 3 will be announced when the website is launched prior to Miami. We'll be front and center with PGP keys and all. There are also a lot of volunteers, developers and others we've managed to pick up over the past month. Our forums will be the best place to get to know them.

First IPO plus mining when that is done...

So Ethereum is supposed to be just the base layer which doesn't provide any "end consumer services" itself. If other developers or the Ethereum team itself builds on top of it to offer some DAC services how (what built in structure?) do ether holders profit from it? Under which circumstance does the ether price increase (because there is not direct benefit (service) from it)?

I'm kinda dumb here, but i'll just ask... what exactly happens in 11 days? The formal announcement of this coin and then it goes into some sort of roadshow/IPO thing (dunno how that works) or is it actually going to be rolled out (i.e. people can mine)?

Richard, I've been following the project very closely. Questions I still have:

1) Since both turing-complete on the blockchain and GHOST have never been implemented before (AFAIK), isn't there a risk to investors to put money in *before* these concepts have been 100% validated? Or are you further down the implementation stage that you let out?
2) If capital dilution is baked in, surely this means the valuation of Ether needs to climb at a proportional rate or else both founders + investors would lose out over time?
3) Why use 12m time lock with dilution instead of a staggered time lock (this would make it much more akin to a standard startup reverse vesting process) Having the risk of core members bailing out at 12 months is not reassuring.
4) Do you plan / reserver the right to further rounds later on?
5) When are we going to get a full list of the people involved? So far only yourself and Vitalik have been announced, surely investors will want to do due diligence on each and everyone

Thank you!

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Fair Enough, this project seems like a breathe of fresh air. BTW OT is another game changer. I will be following this closely, very interesting.