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Topic: Ethereum IPO reboot coming, time to get nervous about the future of crypto - page 3. (Read 11863 times)

sr. member
Activity: 297
Merit: 250
Goldman Sachs isn't backing it but its a psychological condition these people have.

Just like when someone gets mugged or something and then they are too afraid to go out, or can not relax around strangers, their mind has been changed , they have be traumatized. they become irrational .

Same exact thing here, they hear Goldman Sachs and instead of thinking logically about it, they just start throwing their own shit screaming "Goldman Sachs!! Goldman Sachs!!!"

Because of the mistrust this institute has created. you are now getting people who instead of just seeing it and thinking "yeah they are a piece of shit"  and that's it.  they become irrational and concocted wild stories about stuff without any proof....just a paranoid delusional feeling brought on by the betrayal of such a huge institution

I just took the time to do some research, and the GS connection is clear, 2 of the core devs being ex-GS employees. If I was a full-on conspiracy theorist, that would be enough to start me foaming at the mouth.

As it is, since GS was/is one of the main players in the total clusterfuck/theft that is the current global financial crisis, there is just no way in Hell that I would trust Ethereum as far as I could throw it.

Eth may well be 'clean', might even be a success, but no matter how much I love some profit, they aren't getting my BTC.
(Better call Vitalik, let him know his salaries gonna be late)


You don't have to trust it. It's an open source decentralised application. What has the background of people working on it got to do with anything? I've lots of friends who worked in banks. So what? Seriously the arguments I'm hearing here are so stupid. This forum used to be a place where I would be enlightened and enthralled. Those days appear to be gone.
legendary
Activity: 924
Merit: 1000
Goldman Sachs isn't backing it but its a psychological condition these people have.

Just like when someone gets mugged or something and then they are too afraid to go out, or can not relax around strangers, their mind has been changed , they have be traumatized. they become irrational .

Same exact thing here, they hear Goldman Sachs and instead of thinking logically about it, they just start throwing their own shit screaming "Goldman Sachs!! Goldman Sachs!!!"

Because of the mistrust this institute has created. you are now getting people who instead of just seeing it and thinking "yeah they are a piece of shit"  and that's it.  they become irrational and concocted wild stories about stuff without any proof....just a paranoid delusional feeling brought on by the betrayal of such a huge institution

Well...I think it's more like the surmises that people out of the loop have to rely on to make sense of the insider part of the world. If you don't have the inside dope, but you need a definite conclusion, you do have to fly by the seat of your surmise. It's unavoidable, really.

...saith the formerly-overworked data-entry guy...
newbie
Activity: 24
Merit: 0

To value a start-up company at over 5 million USD? I shouldn't even have to answer that question. So a company that isn't making any money is now worth over 5 million. How long, if at all, do you think it will take for your stake to be worth anything? For it to double, the company, once it goes live, would have to make 5 million on top of that, and that's assuming 100% of their earnings will go into the value of Ether, which it certainly won't.

Just think about it and you'll see how overly-inflated the evaluation is.

That's prolly an understatement. Eth will prolly be worth 10mill or more by the time the IPO is done. and then 10 mill will have to be made for a 100% profit
hero member
Activity: 532
Merit: 500
Comparing Ethereum with NXT is like comparing a nice car (NXT) with its production and assembly line (Ethereum).

Nope, there's nothing that Eth is slated to do that can't be implemented in the NXT eco-system.
When NXT releases Monetary System, NXT becomes the factory......a better comparison would be that NXT is Lego and Eth is a 3d printer.

https://www.ethereum.org/
https://nxtforum.org/index.php
I've just spent a few minutes checking out Ethereums site.....apart from the money slurping machine at the front door, it reads like an extract from NXTs technical discussion section.

How much money has it slurped now?

9,471.85518446 BTC at the moment.

Which makes the company currently worth $5,544,000 USD.

Ridiculous.

Why is it ridiculous?

To value a start-up company at over 5 million USD? I shouldn't even have to answer that question. So a company that isn't making any money is now worth over 5 million. How long, if at all, do you think it will take for your stake to be worth anything? For it to double, the company, once it goes live, would have to make 5 million on top of that, and that's assuming 100% of their earnings will go into the value of Ether, which it certainly won't.

Just think about it and you'll see how overly-inflated the evaluation is.
hero member
Activity: 854
Merit: 1001
Goldman Sachs isn't backing it but its a psychological condition these people have.

Just like when someone gets mugged or something and then they are too afraid to go out, or can not relax around strangers, their mind has been changed , they have be traumatized. they become irrational .

Same exact thing here, they hear Goldman Sachs and instead of thinking logically about it, they just start throwing their own shit screaming "Goldman Sachs!! Goldman Sachs!!!"

Because of the mistrust this institute has created. you are now getting people who instead of just seeing it and thinking "yeah they are a piece of shit"  and that's it.  they become irrational and concocted wild stories about stuff without any proof....just a paranoid delusional feeling brought on by the betrayal of such a huge institution

I just took the time to do some research, and the GS connection is clear, 2 of the core devs being ex-GS employees. If I was a full-on conspiracy theorist, that would be enough to start me foaming at the mouth.

As it is, since GS was/is one of the main players in the total clusterfuck/theft that is the current global financial crisis, there is just no way in Hell that I would trust Ethereum as far as I could throw it.

Eth may well be 'clean', might even be a success, but no matter how much I love some profit, they aren't getting my BTC.
(Better call Vitalik, let him know his salaries gonna be late)
sr. member
Activity: 297
Merit: 250


Which makes the company currently worth $5,544,000 USD.

Ridiculous.

Why is it ridiculous?

Will you pay 5m USD for buying thin air?

 Roll Eyes

Why invest in any idea ever then? Let's just leave the world the way it is. Let's not kickstart probable solutions to various problems. Who cares about progress?
hero member
Activity: 924
Merit: 1000
Goldman Sachs isn't backing it but its a psychological condition these people have.

Just like when someone gets mugged or something and then they are too afraid to go out, or can not relax around strangers, their mind has been changed , they have be traumatized. they become irrational .

Same exact thing here, they hear Goldman Sachs and instead of thinking logically about it, they just start throwing their own shit screaming "Goldman Sachs!! Goldman Sachs!!!"

Because of the mistrust this institute has created. you are now getting people who instead of just seeing it and thinking "yeah they are a piece of shit"  and that's it.  they become irrational and concocted wild stories about stuff without any proof....just a paranoid delusional feeling brought on by the betrayal of such a huge institution
member
Activity: 72
Merit: 10
How is Goldman Sachs backing it?
hero member
Activity: 854
Merit: 1001


Which makes the company currently worth $5,544,000 USD.

Ridiculous.

Why is it ridiculous?

Will you pay 5m USD for buying thin air?

 Roll Eyes

Thin air, backed by Goldman Sachs. That makes it totally trustworthy....... Roll Eyes

Whatever happened to the idea that crypto would liberate us from the greed and incompetence of Wall St?
full member
Activity: 181
Merit: 100


Which makes the company currently worth $5,544,000 USD.

Ridiculous.

Why is it ridiculous?

Will you pay 5m USD for buying thin air?

 Roll Eyes

There are obviously some whales willing to bet on new concept. Nxt and Maidsafe did pretty well compare to other alt coins.
legendary
Activity: 952
Merit: 1000
Yeah! I hate ShroomsKit!


Which makes the company currently worth $5,544,000 USD.

Ridiculous.

Why is it ridiculous?

Will you pay 5m USD for buying thin air?

 Roll Eyes
sr. member
Activity: 297
Merit: 250
Comparing Ethereum with NXT is like comparing a nice car (NXT) with its production and assembly line (Ethereum).

Nope, there's nothing that Eth is slated to do that can't be implemented in the NXT eco-system.
When NXT releases Monetary System, NXT becomes the factory......a better comparison would be that NXT is Lego and Eth is a 3d printer.

https://www.ethereum.org/
https://nxtforum.org/index.php
I've just spent a few minutes checking out Ethereums site.....apart from the money slurping machine at the front door, it reads like an extract from NXTs technical discussion section.

How much money has it slurped now?

9,471.85518446 BTC at the moment.

Which makes the company currently worth $5,544,000 USD.

Ridiculous.

Why is it ridiculous?
hero member
Activity: 532
Merit: 500
Comparing Ethereum with NXT is like comparing a nice car (NXT) with its production and assembly line (Ethereum).

Nope, there's nothing that Eth is slated to do that can't be implemented in the NXT eco-system.
When NXT releases Monetary System, NXT becomes the factory......a better comparison would be that NXT is Lego and Eth is a 3d printer.

https://www.ethereum.org/
https://nxtforum.org/index.php
I've just spent a few minutes checking out Ethereums site.....apart from the money slurping machine at the front door, it reads like an extract from NXTs technical discussion section.

How much money has it slurped now?

9,471.85518446 BTC at the moment.

Which makes the company currently worth $5,544,000 USD.

Ridiculous.
sr. member
Activity: 427
Merit: 250
Comparing Ethereum with NXT is like comparing a nice car (NXT) with its production and assembly line (Ethereum).

Nope, there's nothing that Eth is slated to do that can't be implemented in the NXT eco-system.
When NXT releases Monetary System, NXT becomes the factory......a better comparison would be that NXT is Lego and Eth is a 3d printer.

https://www.ethereum.org/
https://nxtforum.org/index.php
I've just spent a few minutes checking out Ethereums site.....apart from the money slurping machine at the front door, it reads like an extract from NXTs technical discussion section.

How much money has it slurped now?

9,471.85518446 BTC at the moment.
legendary
Activity: 2576
Merit: 2267
1RichyTrEwPYjZSeAYxeiFBNnKC9UjC5k
Small subset? Any type of financial or reputational contract can be governed by it. Any type of decentralised version of any web application that now exists can be run on it without a middleman enforcing the contract. The set of contracts is endless!  

Maybe you need to study set theory. Integers are also endless but do not cover all use cases for numbers.

How do you cover a contract for product delivery in the future for a payment up-front? How do you cover an employment contract where payments are ongoing? It seems that the contracts that can be covered with Etherium are time-order sensitive. Which is fine but like I say, hype. And you guys failure to qualify your statements and/or hedge only adds to that perception.

And your example is poor more for its category (gambling) which is probably not what anyone seriously needing to be concerned about contracts will be concerned about. Talk to me of building roads or inventory fulfillment, not the 3:30 at Epsom.
member
Activity: 72
Merit: 10
Comparing Ethereum with NXT is like comparing a nice car (NXT) with its production and assembly line (Ethereum).

Nope, there's nothing that Eth is slated to do that can't be implemented in the NXT eco-system.
When NXT releases Monetary System, NXT becomes the factory......a better comparison would be that NXT is Lego and Eth is a 3d printer.

https://www.ethereum.org/
https://nxtforum.org/index.php
I've just spent a few minutes checking out Ethereums site.....apart from the money slurping machine at the front door, it reads like an extract from NXTs technical discussion section.

How much money has it slurped now?
legendary
Activity: 952
Merit: 1000
Yeah! I hate ShroomsKit!
I have to say, I think the Blockchain is great and all and it's no doubt fantastic for recording Bticoin transaction and potentially for indelibly recording other things as well but I think some of the claims and aspirations seem to be overblown and heading into hyperbole. "Unbreakable contracts"? "enforced by the blockchain"? Sorry, no. Once you step out into the real world, any contract can be broken simply by walking away and enforcement is done by men with guns. Possibly this is just not communicating the message properly but I suspect there's not a small amount of disingenuity in there also.

I don't think you fully understand how this will work! I'll make it very simple!
i'll write a contract with you, a bet lets say, that the seahawks will win the superbowl again!
If you participate in this contract, then you will send .5 BTC or 1000 Ethers or 200000000000 derp coins to the blockchain and so will I. The program/code will figure out who won by communicating to the internet, and BAM! the winner will will receive those coins to their address! simple as that! see how that works? no guns, no men, no bukkake!

keep calling it a "alt-coin"
lol

Counterparty does this already right now


Let me doubt abuot your statement, sir
sr. member
Activity: 297
Merit: 250
Comparing Ethereum with NXT is like comparing a nice car (NXT) with its production and assembly line (Ethereum).

Great analogy
hero member
Activity: 588
Merit: 504
I have to say, I think the Blockchain is great and all and it's no doubt fantastic for recording Bticoin transaction and potentially for indelibly recording other things as well but I think some of the claims and aspirations seem to be overblown and heading into hyperbole. "Unbreakable contracts"? "enforced by the blockchain"? Sorry, no. Once you step out into the real world, any contract can be broken simply by walking away and enforcement is done by men with guns. Possibly this is just not communicating the message properly but I suspect there's not a small amount of disingenuity in there also.

I don't think you fully understand how this will work! I'll make it very simple!
i'll write a contract with you, a bet lets say, that the seahawks will win the superbowl again!
If you participate in this contract, then you will send .5 BTC or 1000 Ethers or 200000000000 derp coins to the blockchain and so will I. The program/code will figure out who won by communicating to the internet, and BAM! the winner will will receive those coins to their address! simple as that! see how that works? no guns, no men, no bukkake!

keep calling it a "alt-coin"
lol

Counterparty does this already right now
hero member
Activity: 756
Merit: 506
Comparing Ethereum with NXT is like comparing a nice car (NXT) with its production and assembly line (Ethereum).


I've just spent a few minutes checking out Ethereums site.....apart from the money slurping machine at the front door, it reads like an extract from NXTs technical discussion section.

My favourite part in this post.
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