Bitcoin Forum

Ethereum SCAM Warning!

DO NOT USE:
https://forum.ethereum.org

The forum is moderated. My account has been banned and my 2 threads deleted.


Keep all discussions about Ethereum off of that forum.





I was trying to have a discussion about "Is Ethereum A SCAM?" and "Is Ethereum A Pyramid Scheme?":

https://forum.ethereum.org/discussion/2669/is-ethereum-a-scam

https://forum.ethereum.org/discussion/2702/ethereum-pyramid-scheme


I was mentioning valid things like:

- The large premined ICO with no transparency. Did they buy their own ICO and take back their invested BTC secretly?

- Poor coin launch that created an unfair poor distribution of coins. No pools at launch for CPU miners. No compiled installer files for windows, mac or linux.

- Pyramid scheme mining structure. As difficulty rises, the same mining rig gets fewer and fewer coins. Ethereum devs instamined the coin. I suggested to increase the block reward later on to minimize this poor coin launch.

- No block explorer



Stay away from Ethereum. Luckily the crowdfunding did provide the open source code which will allow another team to create an Ethereum with better coin distribution.

Ethereum could have been a world changing project.

It's become nothing more than another scammy altcoin with greedy devs trying to get rich.

Lots of guys mine Ether, it will be a hell of a scare if any real proof was put forth to Ethereum being a scam...

Sweet mother of pearl you people are dumb. Do you even research? Or, just make things up?

Edit: http://webcache.googleusercontent.com/search?q=cache:https://forum.ethereum.org/discussion/2669/is-ethereum-a-scam

... What is wrong with you? No wonder they removed the garbage accusations you're trying to throw around. Find a better way to spend your time.

You can still pull up the cached versions of your posts. See my above comment.

Hate to say it but you sound like a 10 year old with a personal vendetta and a lack of of intelligence.

Maybe do some research yourself before throwing around wild accusations dude. Everything you need to know is already out there.

The proof is in the OP. The links to my discussions were deleted today. Instead of Ethereum giving proof that they didn't scam the ICO, they deleted the thread. Instead of trying to make the Ethereum mining more fair, they deleted the thread.

It's not on me to prove they scammed the ICO. I'm not the Canadian Government. I can't force my way into their Toronto offices and look at their financial records.

It's on Ethereum to prove they didn't scam the ICO. I think Andreas Antonopoulos coined the term "decentralized automated audit trail". In the spirit of open source, transparency and decentralization Vitalik should have implemented such a system that was easily visible for everyone to see.


Their financial records look as bad as the scammers on that TV show "American Greed"
https://docs.google.com/spreadsheets/d/1yqymLKNf9tIbArjYrKhEf-IvNmgA6FfvhjnqH_nO_ao/edit#gid=0

One of the interesting things I want to know is:

Was the advertising/travelling Ethereum did prior to the ICO paid for with ICO funds.

It's normal that a forum 'has' a moderation, why are you talking about? However if you are sincere then I think there is not any problem in write the truth here on bitcointalk (like you did with this thread).

I don't care about Ethereum but those thread titles are pretty childish and the fact that they got deleted proves nothing.

"It's not on me to prove they scammed the ICO."

Yeah, I think it is when you're throwing words around like scam and pyramid scheme. When did accusing people without research and facts ever helped?

And what do you mean by "Pyramid scheme mining structure"? As far as I know miners don't have to pay to be able to mine so that cannot possibly be a pyramid scheme.
"As difficulty rises, the same mining rig gets fewer and fewer coins" isn't that how virtually every coin works?

Reddit/forums for Ethereum are extremely heavily policed and most of the information from the ICO has been deleted. For example, where is this?

https://www.ethereum.org/pdfs/TermsAndConditionsOfTheEthereumGenesisSale.pdf (https://www.ethereum.org/pdfs/TermsAndConditionsOfTheEthereumGenesisSale.pdf)

404 Not Found

Ethereum is no scam. It only burns money

they need to control the negativity and trolls obviously. you would do the same aswell if you were in their shoes.... totally understandable...

they are just slaying as many trolls as they can.

OP, you do bring up an interesting point which i never considered. If the original founders were early btc adopters, they would have a bunch of Bitcoin right? So what if they did in fact just funded their own coins on the Ethereum project and then just paid them self back while on the project?

this actually makes perfect sense to why they have such a high salary of 150-250k each... they are just getting their coins back. keep in mind these aren't your random new crypto-currency devs, they must have been in the game for some time hence the lot of bitcoins once you combine it all from all the devs. It's pretty smart marketing actually... also explains why they aren't transparent with the books.

Definitely give them props for the marketing... the tech does seem promising, but so did mastercoin... -_- Good luck to them...

God jesus. When will you people look things up.  These are not their salaries dude.  Damnit.  This is the most uninformed group of people ever. It's literally a waste of time in here.  You people just make up whatever you want.

https://www.reddit.com/r/ethereum/comments/3bbs4p/doing_some_research_on_crypto_projects_is/
https://www.reddit.com/r/ethereum/comments/39ujsp/founder_salaries/


Nice try, idiot.  Just because you didn't bother to track down the source doesn't mean there wasn't one.  It's common knowledge that a lot of people at Ethereum were paid six figure salaries.  We also found out later that they also received free Ether on top.

Can you post a link to this information? This would be impossible unless there was a premine in addition to the ICO funds.

is the IQ of this community so low that we need threads to state the obvious  :o

Does Ethereum even have a block explorer?

Is this site a block explorer?
https://stats.ethdev.com/

This site looks like a broken block explorer
http://ether.fund/explorer

K

https://www.reddit.com/r/ethereum/comments/3fdq0h/ethereums_security_expenditure_miner_reward_was/ctnvm7x

From a developer at Ethereum.  There are individuals receiving 100,000 to 300,000 Ether for free, and then more people receiving smaller amounts.

I spent 3 secs using google to find this document

https://github.com/ethereum/www/blob/master-postsale/src/extras/pdfs/TermsAndConditionsOfTheEthereumGenesisSale.pdf

It's not difficult, is it?

yes satoshi deserved his billion dollar cut for showing us all there's an alternative to the greedy bankers who take their billion dollar cut   ???

Censorship is never a good idea. Shows how they deal with concerns, does that make them trustworthy?

Satoshi didn't raise $18m to pay himself and his company all while carving off 40-50% of BTC for his use. Vitalik is brilliant and a decent guy - too bad he surrounded himself with people that have no idea how to run a business, only to enrich themselves. They paid themselves back for their loans to the company at > 50% annual rates...completely unheard of for founders to do this kind of stuff.

https://www.reddit.com/r/ethereum/comments/2bpqs0/who_is_getting_the_ether_money_and_how_much_is/cj7z30j

"25% plus principal for 6 months, so 56.25% annualized. Total loans were in the $750k range, so interest turns out to be ~10% of our back-expenses..." --Vitalik

Ethereum is now putting restriction on their reddit page.

What is the Ethereum team so scared of?

The irony is people were saying only Bitcointalk has FUD about Ethereum but the Ethereum subreddit has been full of it for weeks now, even more than Bitcointalk where most people aren't interested in Ethereum.

Ethereum, not so shockingly, is finally revealing itself as a 2nd/3rd rate alternate and isn't living up to the hype.

What do you mean by a restriction? Are they deleting posts they don't like or something like that? I don't really understand the reddit system because I haven't used it much myself yet. Can you choose to set up a self moderated reddit page like the ones on bitcointalk?

They are trying to limit the FUD so the devs have time to dump their eth. Can you blame them?

Big boys are dumping on noobs on kraken while non-tech investors still waiting for a GUI wallet to move their ETH. I hope nobody of you guys get trapped on that current manipulated price

I got around 300 eth , should I dump it at current prices or wait?

Dump enough so you cover your cost of purchase and then let the rest ride until prices rebound - aka, sell ~ 75 and then hold the rest.