Topic: **** Official Ethereum QA thread **** - page 8. (Read 34540 times)

Thanks Charles. I will participate in the Ethereum fund raising.  As a non-miner, would my 2000 Eth per btc be deposited/maintained in a secure wallet?  or perhaps you have other plans on how Ethereum ownership is accounted for during the pre-mine pre-wallet period?

Is the inflation distributed to stakeholders and miner's through the POS/POW?

Hi I posted this in the other Ethereum thread a few days ago, but it looks like this is the main one.

Is this the Ethereum gameplan...

Hypothetical scenario

Right now in the US they are busy struggling with how best to regulate crypto-currencies.

These are the potential conclusions I think they will draw...

1. It is too hard to try to regulate the hundreds of crypto-currencies that are out there.
2. Banking compliance is a serious business and issuing bit-licenses and trying to monitor hundreds of new untrusted exchanges is not feasible.
3. Crypto-currencies have deflationary tendencies which run counter to most existing currencies.

The potential solution...

1. It might be possible to regulate 1 base crypto-currency on which other things can be built.
2. Only large existing retail/investment banks with sufficient experience in banking compliance can be trusted as exchanges.
3. A reasonably inflationary crypto-currency would be ideal.

How does Ethereum stack up?

1. Yes Ethereum could be the base crypto, lots of things can be built on top of it, but link back to it when you need to transfer out to fiat.
2. Large existing banks might already have an interest in Ethereum, there is a very large pre-mine, where is it going?
3. Ethereum is very inflationary.

Result...

'They' will decide Ethereum gives consumers the benefits of crypto-currencies while giving the regulators the ability to regulate it and  ensure there are as few bad actors as possible.

They will make it legal for on-line retailers to accept Ethereum as payment and they will make legal Ethereum to fiat exchanges, administered by large existing banks.
However moving to fiat or making online purchases with any other crypto-currency will be illegal.  

Some investment banks are incredibly powerful and influential with large global footprints, they will be able to help ensure this model is also adopted in many other countries. This could make Ethereum insurmountable

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This is only a hypothetical, but I came up with it because I thought the pre-mine and inflationary model was unattractive.
There's also not a lot of reason why people wouldn't fork Ethereum and create their own competing models with more attractive parameters. (less inflationary and no pre-mine.)

However Ethereum's inflationary model & large pre-mine (Which goes to?) would be appealing to TPTB.
By influencing regulations and laws in favour of Ethereum they could also ensure no competing models could threaten it.

The above hypothesis is obviously a wild stretch, but my question is

Edit: I've re-phrased it

A. Do you recognise that the large pre-mine and inflation won't be attractive to most users?
B. How do you hope to prevent forks to something more favourable if the code is open source? 

I apologize for my ignorance in advance. What's wrong with 75% (or 100%) of transaction fees going to the node that actually validates the block?

The Ethereum reference wallet will be far more secure than QT from day 1 (launch of mining). We will have it pen tested thoroughly and even take it to DEFCON next year with a big treasure pot (you hack it; you own it). On a personal note, Bitcoin theft or loss really makes me sad and also I believe is a significant roadblock for mainstream adoption. Mainstream consumers need better security and more tools to protect themselves from themselves. 

Can you define what you mean by 'account' Majik? If you mean online wallets, their security implementation (and therefore support for 2fa) will be the responsibility of the people building them.

As for the reference (mobile and desktop) wallets, they will function in a way that's similar to say, BitcoinQT or .

Will ethereum accounts be secure from day 1? to reassure early investors.  two-factor authentication?

+1

https://en.wikipedia.org/wiki/Neal_Koblitz

Check out our latest hire: http://www.ethereum.org/#who

Sorry for my English.

I saw some launches of CPU coins and it seems that after 2-3 hours after launch botnets are starting to mine this coins. No matter of code etc.

It seems that Eth can be target of such networks too.
512 MB per thread is not too much  when I can usually see that my Firefox is eating 2GB easily. So 4core CPU can be used without much trouble to user.

Will be our GPUs usable or not?

Exactly.

Well, I never understood why this community continuously refers to these offerings as IPOs and investments.  It's an incorrect term for these purposes and it will only serve to get us in trouble.  I think each individual crypto coin could be considered a commodity if anything, but they don't trade on a centralized commodity exchange and the CFTC hasn't issued a ruling yet.  As long as it's clear that you aren't offering an investment with the possibility income, then I don't think they will be considered securities.  Could the price rise in the open market?  Sure, but so can the price of milk.  It's a product you are offering, not an investment opportunity.

Just my 2 cents.

Ether = Oil

Although properties of Ether can enable it as a currency, we see it also as a fuel, powering the contracts which themselves could represent currencies.
This can be done through the implementation of meta-coins on our block chain (a trivial few lines of code), which in turn can be traded and used as currencies.

As for what 'fuels' contracts, yes it would be Ether, although we are considering some very interesting options of 'coloring' Ether, for example for having folded proteins. 'Colored' Ether could therefore be used on special contracts to reward users having completed certain actions.

With ethereum envisioned to become a generic platform with a specific new code to be used for various decentralized applications, DAx's ets., what is really the meaning for it as a currency? will it force all transactions to be in eth? if so than it is not as generic anymore. If it is the "TCPIP" protocol to a currency than I should be able to use BTC based or NXT based currency on it no? please clarify the conceptual vision here. if it is a generic base platform than why is it also a currency? Thanks   

I'm working on the website copy to answer just that I'll post a link as soon as it's up.

What is your long term vision for Ethereum? What do you want it to accomplish for the future? I hope you express that clearly in a mission statement.  What steps are you taking not to create a new class of super wealthy but rather, to empower everyone? I think ethereum is great and you are doing amazing work.  It helps to articulate your mission and your direction clearly so everything you build is in line with that mission.

I'm glad I have the same right as others

@bitcoin_watcher compiled all 357 comments from the AMA and categorized them here:
http://www.reddit.com/r/IAmA/comments/1xb5rj/hi_were_the_ethereum_founding_team_ask_us_anything/cf9zuek

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Well just like any other project, we will be detailing potential ROI models in the document that we will release when announcing the Ether pre-sale event. At the moment I cannot answer this question.