Topic: Ethereum: 2nd gen cryptocurrency with contract programming, "dagger" hashing - page 5. (Read 84312 times)

1000 ether for 1BTC?  Lame

http://www.ursium.com/ethereum-white-paper-updated/

Important update on numbers.

Ethereum seems to be focusing heavily on its contract function, as opposed to Bitcoin which appears to be more exclusively a currency or store of value. That doesn't mean that Ethereum can't or won't act as a currency, and thus compete with Bitcoin.

Ethereum should certainly be able to work in conjunction with Bitcoin. From what I've read, it will be possible to initiate Bitcoin transactions using Ethereum. I do not think that Bitcoin will incorporate the main functions of Ethereum. Take note of the fact that although Bitcoin could have had more functions, such as BitDNS, they were split into Namecoin instead. Bitcoin has its purpose and I don't think that the developers will try to deviate from that purpose to go in a different direction, such as where Ethereum is going.

This is a good question. There is no sense unless the Ethereum rate of adoption exceeds the bitcoin rate of adoption. Unlikely in my view, at least in the initial years. But I'm no expert.

Apologies if you felt I called you a communist. I was trying to use the concept of economic incentives not the political overtones. The point is that if you had $100 invested in google whether you should then invest in Facebook. That discussion is ok in terms of ROI comparing the two. Sure fb might do well but maybe google would do better. However, if you had $1 billion in google, throwing $200k into fb would be nothing to you.

One big investor will have 8% of the total fundraiser???!!!

NOT IF I CAN HELP IT

I'm new to the concept of Ethereum (just learned about it from this morning's article on coindesk) but it appears to be worth investigating.

A few (related) questions I will be trying to answer:

1. Is Ethereum necessarily a competitor to bitcoin, or is it complementary?

2. Can Ethereum work in conjunction with bitcoin? eg can you write a contract in Ethereum that is denominated in bitcoin?

3. Could bitcoin be modified, in the words of Jeff Garzik, "to incorporate any highly desirable features into a future bitcoin revision" ? adopt the basic concept of Ethereum? From what I've learned so far, Ethereum seems sufficiently different from bitcoin that this would not be straightforward.

Those are exactly the people you want to invest money with.

Clever enough to create a new financial system but stupid enough to use photos from FB on the site?


I'm not sure I can invest money in people that look like D&D players.

Sorry, I'm not a communist, and that is not my intent with my post. My point is that it's like people are arguing about how many shares of stock Google has issued, and at what starting price, wodering how much their shares will be diluted, while ignoring the actual business plans and people behind Google who will actually make those stock shares be worth something. People focus too much on the supply/demand side of economics, not the network effects enabled by the capabilities of the coin software. Much like people who don't understand bitcoin complain about it's supply/demand, and complete lack of backing compared to FIAT and gold, while completelly ignoring the fact that bitcoin can replace most of our world's financial and legal asset systems.

Limited resources = electricity gets more expensive = mining isn't as profitable = fewer miners waste electricity mining. As the mining rewards decrease, resources spent on mining will decrease too. Do you know how much power we are wasting supporting the current financial system? All the energy used to run the bank wire and credit card networks and servers, all the power needed to cool and heat banking buildings that to the same accounting and security that's done automatically by miners, all the money spend on security, bank vaults, guards, armored vehicles, etc. How much of that power are we wasting, compared to bitcoin?


Hmm, that is a good idea. So, if I have a majority of the coins in a PoW system, I would need the majority of other users agreeing not to use me to forge the next block in order for my fork change not to go through? What if I own the majority of coins, but they are split up in thousands of smaller amounts, each of which asks one of my own addresses to forge the neck block? How will my thousand "sock puppet" wallets compete against normal users?


Mining pools aren't mining hardware. They aren't the ones securing transactions. All they provide is a place for miners to coongregate, but miners are free to switch from pool to pool as they wish. This prevents pools from doing bad things, because doing so would cause miners to abandon them, and make the pool lose all its income. Look at the mining pools. They are close, but never go above 51%, because miners keep moving to keep the % below 50.

Agree

At some point in the future, the rate of coins being mined will equal the rate of coins being lost.

That's more like currency maintenance than inflation.

cryptocurrencies were designed so that inflation is NOT present as it is the root of all evil.

its not much different if the central bank prints money or ghash.io mines ethereum. its just a decision that devaluates your money.

I'm not going to pretend to understand everything, or half of what I've read about Ethereum.  But where much of bitcoins assumed value comes from difficulty obtaining bitcoins, low supply and high demand.  It's more like collecting baseball cards in some ways than currency.

This looks to me more like the way it is structured to reflect a real economy.  The value is based more on widespread adoption and the complexity of the transactions available.  I hope the inflation is able to stabilize the value of the currency. 

What is the point of investing in a currency with inflation ?

The value of Bitcoin is going up. The value of a currency with inflation go down. The difference between the two is huge growing gap.

So why ? I'm open minded, I just want to understand.

When can I get this coin? And for what price? thanks a lot!

site is so bad and broken in chrome 26.. 

Yes it has, I guess he needs for time to figure out orphaned block.

Please, help me.
Where can I get from a client for linux?