Bitcoin Forum

Release date: June 11 2014 00:00 UTC
PoW: SHA256

This is an announcement of the Ethereum256 blockchain release and pre-sale. The goal of the project is to track the Ethereum project capabilities while preserving the current Bitcoin mining infrastructure. Hence, Ethereum256 will use SHA256 proof-of-work and will be merge-mined with Bitcoin.

Ethereum256 Developers
The Eth256 developer team is a set of individuals that love software and the cryptocurrency movement. We also fully believe that Ethereum, in concept, will be a significant advancement of the field. That said, we believe that the current Ethereum team has the wrong motivations and does not have the crypto community best interests at heart. We believe the currency should belong to the people and this is what we are hoping to achieve with this coin release. Towards that end, the development team will be self-funded and will maintain the software in full-time fashion for 1 year after release or until the community takes over, whichever occurs first.
If interested in contributing, please PM with contact info and a brief synopsis detailing how you would like to contribute to the project and we'll get you involved.
Also, we welcome and encourage any members of the Ethereum team that wish to contribute to this truly open and community-benefiting project.

Presale
Start Date: May 12 2014 00:00 UTC
End Date: May 30 2014 00:00 UTC
Address: <to be provided at start>

There will be a presale of Eth256 coins that will run for approximately three weeks. The objective of this presale is to allow non-miners to acquire Eth256 and participate in this new ecosystem (seeing as, on release, it will likely be impossible for a layman to mine any). Any BTC sent to above address between presale start and end date will be guaranteed a spot in the Eth256 presale.

All coins sent to the presale address will be provably burned (the address will be inaccessible, similar to the Counterparty proof-of-burn).

Early buyers in the Eth256 presale will receive a bonus, according to the following schedule:
First week: 2000 Eth256 per 1 BTC
Second week: 1625 Eth256 per 1 BTC
Third week: 1250 Eth256 per 1 BTC

IMPORTANT: Please ensure that you send the funds from a bitcoin address where you have control of the private key (like Bitcoin-qt or blockchain.info for example). You will use the same private key to obtain your Eth256 once the coin is launched. The Ethereum256 developers are not responsible for mistakes in the presale process and will not and cannot help correct them.

Premine
Start Date: May 30 2014 00:00 UTC
End Date: June 11 2014 00:00 UTC

The Ethereum256 blockchain will be started when the presale is completed and will be operated through a pool maintained by the Ethereum256 developers.
Software will be provided for this premine, in a limited fashion, to interested miners who will look to secure the Eth256 network for release. If you are interested in participating in this premine, please send PM with your contact info and proposed amount of hashing power.

All coins generated via this premine (other than the presale coins in the genesis block) will be provably burned at the time of the Eth256 release.

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Alpha Software
The Ethereum software is currently alpha-stage and will likely continue to be so in the near future. As a result, the Ethereum256 software will also be alpha stage. Use at your own risk.

Contact
This thread is going to be the official method of communication in addition to r/Ethereum256. We will be adding further communication channels in the near future.

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This thread is the official thread for Ethereum256. It will be updated as the project evolves and posts by this user should be considered the authority on the project. The thread is self-moderated, for stupidity only :)

umm....

Shitbox scam fucking bullshit.  Newbies (because I assume regulars aren't dumb enough to lose BTC to this bullshit), stay away.  We will laugh at you when you throw your BTC away.

Ban this shitbox pilot "dev", and burn this scamshitcoin to the ground.

I'm in if you'll change it to a direct proof of burn, Counterparty style. Only then will your concept have a legit foundation.

Arrange an escrow and don't make it "if necessary" and an exception to those who "wish to opt for it". Have an escrow announce here that they will be the official escrow for etherium, along with the terms of exchange.

Hollowman338, HinnomTX, sonysasankan,

All concerns are now corrected. Burn will be direct as per HinnomTX suggestion.

What does that mean?

Do you need translate to chinese?Pm me if any interest :)

umm.... Sorry to see that  you still make sha256 coin.Pos is the main stream in the new world ,you will be the lost one

We will make up an address. An address to which we can't possibly have the private key. The counterparty guys did it by using address 1CounterpartyXXXXXXXXXXXXXXXUWLpVr. Since it is impossible to obtain the private key for an arbitrary address, the coins sent there were burned for good. We will be doing the same thing

Are you planning to fork Ethereum?
Is that what this is?

The Ethereum256 blockchain will be started when the presale is completed and will be operated through a pool maintained by the Ethereum256 developers.
Software will be provided for this premine, in a limited fashion, to interested miners who will look to secure the Eth256 network for release. If you are interested in participating in this premine, please send PM with your contact info and proposed amount of hashing power.

But what's the point of burning the BTC? Isn't that stupid? What am I missing here?

"provably burned".....provably....not sure?

Remove 256 and add PLUS, so you can hook more fish.

+X11, +PoS, +250% Annual Interest Rate.  ;D

I'm sort of surprised more coins like this haven't been tried already, trying to cash in on the upcoming Ethereum project (the real one).

Perhaps we will see more even, who knows. It's like those copycat budget DVD movies you see with titles similar to blockbusters, hoping people won't notice the difference, or somehow thinking they are related to the blockbuster movie in some tangible way.

Anyway, this coin isn't for me. I'm saving my funds for MadeSafe256.

Good.  I've deleted all of the Flappycoin references in my clone and should have the ANN for MadeSafe256 ready in about an hour...-thumbsup-

Since at least one person in this thread seems to be under the impression this project is somehow connected to the official Ethereum project (https://www.ethereum.org), I thought I'd take the time to post this quick reminder.

Ethereum256 and all other forks are in no way related to the official ethereum project.

Ultimately, all forks asking for funding regardless of method (PoB etc) come down to trust - but please let's be clear that when you fund a fork, none of the funds will make their way into the 'original' Ethereum, and none of the funds will convert back to 'official' ether - as, once again, we are in no way related.

Thank you.