Prerelease client: https://github.com/ethereum/go-ethereum/releases/tag/v0.9.18
Exploit bounties: https://blog.ethereum.org/2015/05/09/olympic-frontier-pre-release/
Unofficial presale coin market: https://bittrex.com/Market/Index?MarketName=BTC-ETC
Topic: What is Ethereum??? (Read 2940 times)
It smells like a scam in here. Glad I missed out on the presale. Looks alike another alphatech in here.
Vaporware!
Vaporware!
Quote
I don't agree with the way they went about raising funds, it was probably Charles Hoskinson's idea. I didn't purchase "ethers", considered it more a donation than an investment.
Despite spending months of my life trying to figure out the legal and tax implications of it and even moving to Switzerland for three months, I was always against the ether sale and wanted to take VC money. It made a hell of a negotiating point for valuation, but introduced a terrible moral hazard of having no fiduciary responsibility behind the enormous sum raised. Also no formal due diligence process would be applied to the core team.
If there was to be a sale, then I wanted two organizations to form with a VC funded for profit building the initial protocol and then a sale at the time of launch to fund a foundation with a separate board managing it. This would create a clear separation of concerns and avoid conflicts of interest. Second, the risk to ether purchasers would be substantially less and would have eliminated the need and justification for a premine altogether. Obviously that didn't happen and the project decided to use the sale to fund some sort of bizarre swiss NPO funding a pesudo for profit in England two months after I left in early June.
Since then they've apparently spent or lost 14 of the 18 million raised and have missed two launch windows for a command line barebones version of the software. Second, they've experienced terrible mission creep with a mandate to re-invent the internet as opposed to simply giving the space a much better foundation to build cool blockchain centric applications and protocols. I'm honestly not sure what ethereum is anymore? Whisper, Swarm, Golem, Holons, Open Org, 4 new programming languages, DAOs???
In any event, don't blame people you've never met for things you know nothing about. Ethereum would be a very different project if I was still there. I'm not and they don't even have me listed as a founder nor did Mihai even mention me once in his history of the project. Thus I suppose I never played a meaningful role.
Thank you Charles for your insight thoughts of this situation!
Enlightening post. Seems like the first smart-contract should have been the IPO contract. Anyways still hoping for protocol-level CLI to be released.
I'm not a founder. Apparently I had very little to do with the project.
but you were in the team early on and i'm sure you know alot of the inside stuff that your voicing out now. im curious to whats your take on NXT and Bitshares as its a competing 2.0 tech in the crypto scene.
Ethereum is not competing with Nxt or Bitshares, it's competing with Crypti.
isn't the upcoming nxt plugin system in the same area?
The Nxt plugin system allows apps/websites to utilizes the Nxt API. These ones will be available right from the Nxt Wallet, once the plugin is installed from a 3rd party location.
Crypti/Ethereum are something different. You will be able to make whole decentralized applications, with your own blockchain. Written in a coding language (JavaScript in Crypti).
I'm not a founder. Apparently I had very little to do with the project.
but you were in the team early on and i'm sure you know alot of the inside stuff that your voicing out now. im curious to whats your take on NXT and Bitshares as its a competing 2.0 tech in the crypto scene.
Ethereum is not competing with Nxt or Bitshares, it's competing with Crypti.
isn't the upcoming nxt plugin system in the same area?
so where is bitcoin going?is it going to be mainstream is a few years?any others altcoins worth investing in?
I don't think there has been any releases yet? Even after a NYC party, did anyone go?
I'm not a founder. Apparently I had very little to do with the project.
but you were in the team early on and i'm sure you know alot of the inside stuff that your voicing out now. im curious to whats your take on NXT and Bitshares as its a competing 2.0 tech in the crypto scene.
Ethereum is not competing with Nxt or Bitshares, it's competing with Crypti.
I was one of the founders of bitshares. It's a great collection of ideas. Needs better execution.
I'm not a founder. Apparently I had very little to do with the project.
but you were in the team early on and i'm sure you know alot of the inside stuff that your voicing out now. im curious to whats your take on NXT and Bitshares as its a competing 2.0 tech in the crypto scene.
where is the Project going?are they going to reléase something?
I'm not a founder. Apparently I had very little to do with the project.
having an ehtereum founder come here to bash ethereum is quite shocking i must say for a project that raised so much funding. what stage are they at now anyways?
how did they spend all the bitcoins?
Ethereum are/is the folks that dumped tons of btc and crashed the price from what is was a year ago. What I'm told anyway.
Ethereum will not be good for BTC If it does become a huge thing.
Hows that? Ok we know its probably not a scam but why would it be bad for btc if it became big?
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What is Ethereum??? and why is very innovative???
In which way this platform can give a confirmation at different documents using the blockchain tecnology?
Thx!!!
In which way this platform can give a confirmation at different documents using the blockchain tecnology?
Thx!!!
Ethereum is non-existant. It exists only as a powerpoint presentation. It is widely regarded as a presale scam. The Terms of Service for the presale were stating they never need to deliver a product.
Quote
I don't agree with the way they went about raising funds, it was probably Charles Hoskinson's idea. I didn't purchase "ethers", considered it more a donation than an investment.
Despite spending months of my life trying to figure out the legal and tax implications of it and even moving to Switzerland for three months, I was always against the ether sale and wanted to take VC money. It made a hell of a negotiating point for valuation, but introduced a terrible moral hazard of having no fiduciary responsibility behind the enormous sum raised. Also no formal due diligence process would be applied to the core team.
If there was to be a sale, then I wanted two organizations to form with a VC funded for profit building the initial protocol and then a sale at the time of launch to fund a foundation with a separate board managing it. This would create a clear separation of concerns and avoid conflicts of interest. Second, the risk to ether purchasers would be substantially less and would have eliminated the need and justification for a premine altogether. Obviously that didn't happen and the project decided to use the sale to fund some sort of bizarre swiss NPO funding a pesudo for profit in England two months after I left in early June.
Since then they've apparently spent or lost 14 of the 18 million raised and have missed two launch windows for a command line barebones version of the software. Second, they've experienced terrible mission creep with a mandate to re-invent the internet as opposed to simply giving the space a much better foundation to build cool blockchain centric applications and protocols. I'm honestly not sure what ethereum is anymore? Whisper, Swarm, Golem, Holons, Open Org, 4 new programming languages, DAOs???
In any event, don't blame people you've never met for things you know nothing about. Ethereum would be a very different project if I was still there. I'm not and they don't even have me listed as a founder nor did Mihai even mention me once in his history of the project. Thus I suppose I never played a meaningful role.
Thank you Charles for your insight thoughts of this situation!
Ethereum will not be good for BTC If it does become a huge thing.
Is it a scam?
I don't think its a scam. There is not much to show for millions of dollars. I would be interested to see if there is any accounting for the money at all. It should be public record after all its the public's money.
Yeah i don't think it scammy too I think something will come but will it be good and not fail. i do not know
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