Ethereum IPO reboot coming, time to get nervous about the future of crypto - page 4.

marcelus

sr. member

Activity: 297

Merit: 250

Quote from: Richy_T on July 30, 2014, 08:02:34 PM

Quote from: marcelus on July 24, 2014, 04:40:02 PM

So now that I know what you were referring to, I say you are wrong. Every contract on the Ethereum blockchain (or bitcoin blockchain) can be enforced by the blockchain itself. If you have read that page, I struggle to see how you can't grasp that. Men with guns aren't required. There is no ambiguity in blockchain contracts.

No, I grasp the concept. What is covered with these "contracts" however, is a small subset of useful contract types. It's a good concept as far as it goes but I smell hype.

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!

marcelus

sr. member

Activity: 297

Merit: 250

Quote from: Richy_T on July 30, 2014, 08:07:00 PM

Quote from: slaveforanunnak1 on July 24, 2014, 04:59:41 PM

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

Terrible example, even for what you are trying to illustrate.

I'm not going to crap all over Etherium as I think it sound like it could have some quite interesting applications. I just think some of its shortcomings are being quietly ignored.

"Could have some interesting applications". That's the equivalent of saying the www could have some interesting applications back in 1993.

What's wrong with that example as well? It makes perfect sense.

Richy_T

legendary

Activity: 2576

Merit: 2267

1RichyTrEwPYjZSeAYxeiFBNnKC9UjC5k

Quote from: slaveforanunnak1 on July 24, 2014, 04:59:41 PM

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

Terrible example, even for what you are trying to illustrate.

I'm not going to crap all over Etherium as I think it sound like it could have some quite interesting applications. I just think some of its shortcomings are being quietly ignored.

Richy_T

legendary

Activity: 2576

Merit: 2267

1RichyTrEwPYjZSeAYxeiFBNnKC9UjC5k

Quote from: marcelus on July 24, 2014, 04:40:02 PM

So now that I know what you were referring to, I say you are wrong. Every contract on the Ethereum blockchain (or bitcoin blockchain) can be enforced by the blockchain itself. If you have read that page, I struggle to see how you can't grasp that. Men with guns aren't required. There is no ambiguity in blockchain contracts.

No, I grasp the concept. What is covered with these "contracts" however, is a small subset of useful contract types. It's a good concept as far as it goes but I smell hype.

EvilDave

hero member

Activity: 854

Merit: 1001

Quote from: bitjoint on July 28, 2014, 12:42:51 PM

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.

Nxtblg

legendary

Activity: 924

Merit: 1000

Quote from: EvilDave on July 28, 2014, 10:32:00 AM

Nope, not yet, but smart contracts are in the pipeline.......probably be up and running on NXT before Ethereum launches.
https://nxtforum.org/smart-contracts/

And while you're there, take a look at the rest of NXTs feature set.....

IMHO: if (big if) Ethereum can deliver on everything they promise, Eth will be technically superior to NXT.
But we are a very long way from seeing any code from Ethereum, even if they can deliver.
I think this is going to work out like VHS vs Betamax: the superior tech will lose out to ease of use, market position, availability and lower entry costs......

I agree, although of course you already know that I pretty much have to. As a co-dev of NFD, I'm pretty much in the tank for the Nxt tech - as you well know, Mr. EvilCoin. Wink

But I am on solid ground here. I was excited by Etherium when they first announced it. But as winter melted into spring, I got the idea that they were bogged down into committee-speed slogging. That only further increased my confidence in Nxt and the Nxt system.

With its new schedule, Etherium is running the risk of becoming a much-better-publicized version of (trivia alert) eMunie. By the time Etherium gets off the ground, it'll have not only one competitive tech but two: the Nxt system and the NEM system.

For all I know, it might have at least three competitive techs. We might end up seeing eMunie after all, and one of those snazzy IPOs might bear competitive fruit by the opening winter of 2015.

So that's why I'm in the tank for the Nxt system - specifically, for NFD. To be honest, as a dev I actually have a moral obligation to be biased in NFD's favour.

bitjoint

sr. member

Activity: 333

Merit: 250

Commander of the Hodl Legions

Comparing Ethereum with NXT is like comparing a nice car (NXT) with its production and assembly line (Ethereum).

mtomcdev

sr. member

Activity: 310

Merit: 250

Quote from: EvilDave on July 28, 2014, 10:32:00 AM

Nope, not yet, but smart contracts are in the pipeline.......probably be up and running on NXT before Ethereum launches.
https://nxtforum.org/smart-contracts/

And while you're there, take a look at the rest of NXTs feature set.....

IMHO: if (big if) Ethereum can deliver on everything they promise, Eth will be technically superior to NXT.
But we are a very long way from seeing any code from Ethereum, even if they can deliver.
I think this is going to work out like VHS vs Betamax: the superior tech will lose out to ease of use, market position, availability and lower entry costs......

Well, that's not quit the case as there are lot of codes available from Ethereum at their github repository, I have just compiled their cpp-ethereum project which is a quite impressive piece of proof of concept software. Having said that Ethereum is not as innovative as I thought it will be. Even Buterin says or admit that Ethereum like Bitcoin with a built in scripting language. Knowing that Bitcoin can execute scripts the innovation is not a massive breakthrough.

I think you are absolutely right, we don't know whether the completed Ethereum solution will work and when that will be. NXT is definitely have a better position in the race. NXT is at least on the market with a proven and stable software.

EvilDave

hero member

Activity: 854

Merit: 1001

Nope, not yet, but smart contracts are in the pipeline.......probably be up and running on NXT before Ethereum launches.
https://nxtforum.org/smart-contracts/

And while you're there, take a look at the rest of NXTs feature set.....

IMHO: if (big if) Ethereum can deliver on everything they promise, Eth will be technically superior to NXT.
But we are a very long way from seeing any code from Ethereum, even if they can deliver.
I think this is going to work out like VHS vs Betamax: the superior tech will lose out to ease of use, market position, availability and lower entry costs......

mtomcdev

sr. member

Activity: 310

Merit: 250

Quote from: EvilDave on July 28, 2014, 09:35:11 AM

Hate to hijack this thread......but NXT.
Not sponsored by corporate thieves or incompetents, fully open source, up and running right now, capable of implementing pretty much anything Ethereum will be able to do.

Why throw your money at Goldman Sachs for vaporware and a promise when you could get in on a working system right now?

Sheesh, NXT has already placed 2 NXT based assets in the Coinmarketcap top 40 right now......and theres a lot more amazing stuff to come.

Is NXT support and capable to perform smart contracts?

EvilDave

hero member

Activity: 854

Merit: 1001

Hate to hijack this thread......but NXT.
Not sponsored by corporate thieves or incompetents, fully open source, up and running right now, capable of implementing pretty much anything Ethereum will be able to do.

Why throw your money at Goldman Sachs for vaporware and a promise when you could get in on a working system right now?

Sheesh, NXT has already placed 2 NXT based assets in the Coinmarketcap top 40 right now......and theres a lot more amazing stuff to come.

Queeq

sr. member

Activity: 427

Merit: 250

Interesting to see the distribution of future Ethereums:
https://blockchain.info/taint/36PrZ1KHYMpqSyAQXSG8VwbUiq2EogxLo2

marcelus

sr. member

Activity: 297

Merit: 250

Quote from: TaunSew on July 27, 2014, 08:02:02 PM

Quote from: thrax on July 27, 2014, 03:50:31 PM

Quote from: cloverme on July 27, 2014, 03:26:32 PM

I don't like how they are selling Ether for BTC when there's no Ether blockchain or coins. Lots of hype around this "platform", same goes for Storj, lots of show with little being delivered. Right now, all these are just sleight of hand tricks to crowdfund without calling it crowdfunding.

Hey, give me a bunch of BTC because I just made a slick video about how I'm going to disrupt conventional application delivery!

Ugh...

All the current "IPO's" seem to be offering nothing but promises. Buying them is a big gamble and I almost took the risk, but decided it was placing to much trust in just a promise they would produce something great.

Same risk as any other IPO, imho. The difference is the reward is far less. Ethereum at $10 to $30 million starting capitalization can only go up so much unless some miracle happens. Litecoin has been the only alternate coin so far to hit a valuation in the 300 million range.

Ethereum has too much bad PR go big. Once people realize there's a Goldman Sachs' connection (the people responsible for the 2008 crisis) and it's a premine to make a few greedy rich people people even richer, it's over.

In contrast, there's tons of alternates out there which start at $50K to $500K capitalization and have potential to hit $50 million (100x to 1000x return on investment).

Silly analogy mate. The potential of litecoin doesn't even scratch the surface of Ethereum's.

marcelus

sr. member

Activity: 297

Merit: 250

Quote from: thrax on July 27, 2014, 03:50:31 PM

Quote from: cloverme on July 27, 2014, 03:26:32 PM

I don't like how they are selling Ether for BTC when there's no Ether blockchain or coins. Lots of hype around this "platform", same goes for Storj, lots of show with little being delivered. Right now, all these are just sleight of hand tricks to crowdfund without calling it crowdfunding.

Hey, give me a bunch of BTC because I just made a slick video about how I'm going to disrupt conventional application delivery!

Ugh...

All the current "IPO's" seem to be offering nothing but promises. Buying them is a big gamble and I almost took the risk, but decided it was placing to much trust in just a promise they would produce something great.

That's all a fundraising round ever offers. It's up to people to decide whether to take a punt or not. With the people and vision behind Ethereum, I am very much interested in taking a punt.

TaunSew

hero member

Activity: 756

Merit: 506

Quote from: thrax on July 27, 2014, 03:50:31 PM

Quote from: cloverme on July 27, 2014, 03:26:32 PM

I don't like how they are selling Ether for BTC when there's no Ether blockchain or coins. Lots of hype around this "platform", same goes for Storj, lots of show with little being delivered. Right now, all these are just sleight of hand tricks to crowdfund without calling it crowdfunding.

Hey, give me a bunch of BTC because I just made a slick video about how I'm going to disrupt conventional application delivery!

Ugh...

All the current "IPO's" seem to be offering nothing but promises. Buying them is a big gamble and I almost took the risk, but decided it was placing to much trust in just a promise they would produce something great.

Same risk as any other IPO, imho. The difference is the reward is far less. Ethereum at $10 to $30 million starting capitalization can only go up so much unless some miracle happens. Litecoin has been the only alternate coin so far to hit a valuation in the 300 million range.

Ethereum has too much bad PR go big. Once people realize there's a Goldman Sachs' connection (the people responsible for the 2008 crisis) and it's a premine to make a few greedy rich people people even richer, it's over.

In contrast, there's tons of alternates out there which start at $50K to $500K capitalization and have potential to hit $50 million (100x to 1000x return on investment).

bitjoint

sr. member

Activity: 333

Merit: 250

Commander of the Hodl Legions

Quote from: Nullu on July 27, 2014, 03:31:45 PM

Where's the developers? Where's the news articles?

You are just trolling... there's a working testnet and there are hundreds of devs with awesome projects that are impossible to implement with a blockchain 1.0 tech like bitcoin.

thrax

sr. member

Activity: 253

Merit: 252

Quote from: cloverme on July 27, 2014, 03:26:32 PM

I don't like how they are selling Ether for BTC when there's no Ether blockchain or coins. Lots of hype around this "platform", same goes for Storj, lots of show with little being delivered. Right now, all these are just sleight of hand tricks to crowdfund without calling it crowdfunding.

Hey, give me a bunch of BTC because I just made a slick video about how I'm going to disrupt conventional application delivery!

Ugh...

All the current "IPO's" seem to be offering nothing but promises. Buying them is a big gamble and I almost took the risk, but decided it was placing to much trust in just a promise they would produce something great.

LucyLovesCrypto

sr. member

Activity: 414

Merit: 251

I think valuation is the main issue here

Nullu

hero member

Activity: 532

Merit: 500

Too much hype for my tastes. Where's the developers? Where's the news articles?

It all sounds good on paper, but if nobody knows about it, and nobody will use it, your Ether is worth pennies. Perhaps you should speak to some actual developers and find out what they think of Ether, rather than assume developers are somehow going to appear out of thin air to use the platform.

As I've said before, Ethereum is a product that sounds good to investors. Use your damn head.

cloverme

legendary

Activity: 1512

Merit: 1057

SpacePirate.io

I don't like how they are selling Ether for BTC when there's no Ether blockchain or coins. Lots of hype around this "platform", same goes for Storj, lots of show with little being delivered. Right now, all these are just sleight of hand tricks to crowdfund without calling it crowdfunding.

Hey, give me a bunch of BTC because I just made a slick video about how I'm going to disrupt conventional application delivery!

Ugh...

Topic: Ethereum IPO reboot coming, time to get nervous about the future of crypto - page 4. (Read 11856 times)