Have you taken a look at https://www.hivewallet.com ? We only have a public release for Mac OS X, but several other platforms are planned for 2014. If you see anything we can do to make it easier for novices to interact with the Bitcoin community, please let use know. Taylor |
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So there's a lot to read before asking a *completely* educated question about Ethereum, but hopefully I'm not jumping the gun too much...
Because Ethereum has a Turing complete scripting language, you cannot necessarily know how many cycles a script will take to execute, but Ethereum charges a fee based on how many cycles (past 16) that it takes your script to execute, how are you handling that?
If the contract doesn't have enough funds to fully feed it, my understanding is that it will cease execution. After all, if you're a miner, why would you do work for no fee? |
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I've read all 28 pages on the other thread, and all the posts on this one so far. I'm surprised at so many people who are opposed to the founders' share. My take on it is this: if you invent potentially world-changing technology, and that technology succeeds, you deserve to be rewarded. I don't see anybody here complaining about how much money Larry Page and Sergey Brin made off Google!
The founders' ether doesn't even begin to vest until one year after launch, and doesn't finish vesting until three years after launch. That means two things: first, there is no "insant profit" for the founders...they only make money if they create long-term value. Secondly, their premine shares are "locked," which means that even though there is an initial 33% premine (0.5X), no portion of that money will show up on exchanges until 1-3 years have passed. For all practical purposes, that ether doesn't even exist until it vests.
Some of you have said "but they get the bitcoins, and then they get a share of ether, too!" But you aren't reading their terms carefully enough--those bitcoins go to pay for development. They do not go into the pockets of the founders (other than inasmuch as they are paid salaries, as employees). If you think they are lying, well that's another thing entirely. Given the caliber of the founders' and their reputation, I think that is seriously unlikely.
Another thing I don't understand is how people understand ratios so poorly. Would you rather 1000 coins at $10 profit each, or 100 coins at $100 profit each? (HINT: It's the same amount either way!).
TL;DR If you think ethereum just faces too many technical and legal hurdles, or that it's just too risky, then don't invest. But if you think this has true potential and you decide not to invest "on principle" because you feel like the founders are making too much money, then you're a damn fool.
Thanks for the coherent thought--it's nice to find between all the troll posts  |
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Who is going to be in Miami this week?
*Raises hand* Me! I know you are.... Who else? I'll be in Miami to represent Hive Wallet and mix with the Ethereum guys. |
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OMG this wallet is so beautiful. Can anyone pm me or post here about your expierences with it/ I want to use it for my go-to wallet but the warning frightens me  I've been using Hive Wallet to make purchases since the start of the new year (including my flight to Bitcoin Miami this weekend), and it's worked pretty dandy for me so far. With the encryption and backup system in place (currently leveraging Time Machine and Dropbox), you have much less to fear in terms of losing your coins should the software do something unexpected. We appreciate everyone's help using and testing the software and hope to really make this the best looking, most secure, most stable, easiest-to-use Bitcoin software on the planet  There are so many exciting things to come that I keep shouting "HURRY UP FUTURE"! |
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So, as a novice hobbyist, I am still very interested in this coin (?), so i'll throw this out there. In business you're often asked to prepare and give someone the "elevator pitch", which might be about 30 seconds worth of bullet points. So someone give this to me, what is the "elevator pitch" for this coin?
Is it a bitcoin killer? What does it do that other coins don't (is it the notion that you can leverage mining power into real-world applications/computations?)
It's hard to give an elevator pitch on a technology that is a step abstracted from Bitcoin when people don't properly understand Bitcoin in the first place... but I'll try for those interested in investing but not in reading the research material (which seems to be the de-facto status of forum trolls). Imagine the underlying technological accomplishments of Bitcoin (distributed consensus) were abstracted away such that ANY mathematical expression could be expressed & evaluated by the network. In addition to a more complete scripting language, these scripts/programs/bots/entities would live in a "contract" and have access to memory locations and ability to interact with other transactions themselves. What you end up with is a way to design nearly any legal/financial agreement which can interact with other contracts and accomplish hugely complex and automated tasks secured by the network at large. What you can accomplish with the contracts/memory construct is essentially only limited by your imagination and funds available (since contracts require fee inputs). What are some examples of what these contracts could do? - Sub-currencies
- Financial derivatives
- Identity and Reputation Systems
- Decentralized Autonomous Organizations
- Savings wallets
- Crop insurance
- decentrally managed data feed
- Smart multisignature escrow
- Peer-to-peer gambling
- on-chain stock market
- on-chain decentralized marketplace
- Decentralized Dropbox
I highly recommend everyone read the white paper several times if they're interested in this project, whether as investors or technologists (or both!) |
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The maximum number of coins is also irrelevant (aside from technical reasons), particularly as mining output scales linearily with the amount of the initial stake. Does it matter if bitcoin has 21,000,000 or 21,000,000,000 coins, if everything is scaled up similarily?
this. Mining output is 0.5x (x = number of ethers bought initially) per year. Linear inflation. There's no cap, so where is the 1.2 trillion coming from? I think it's probably based on some assumptions (mainly a certain "x" and a certain percentage of coin loss?) Yes, from the whitepaper: We also theorize that because coins are always lost over time due to carelessness, death, etc, and coin loss can be modeled as a percentage of the total supply per year, that the total currency supply in circulation will in fact eventually stabilize at a value equal to the annual issuance divided by the loss rate (eg. at a loss rate of 1%, once the supply reaches 100 * (0.5X) then 0.5X will be mined and 0.5X lost every year, creating an equilibrium). |
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Do one for Windows and I'll be your bitch for a week. Windows user begging to be someone's bitch. Lulz |
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The buy in will be in the millions and the expected market cap is in the billions.
Charles could you answer the following question? Who will receive the Bitcoins the fundraisers spent to buy Ether? The founders? The organisation? Will they be locked/destroyed? I assume the founders and/or organisation, but I guess it would be good to clearify that part, just to be transparent. Another option could be to spend it to a group of NGOs (Wikileaks, EEF, ...). Already answered: https://bitcointalk.org/index.php?topic=412878.msg4502149#msg4502149 |
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Thanks for the info. One thing I can't find is a way to create new receiving addresses. Is this implemented? It seems that it could be because the receiving address is labeled "main" which implies it might be possible to add others with different names but I can't find a button or menu entry for this function anywhere.
Yeah, there's no way to generate more addresses now... I know address reuse is not recommended, but it's by design to make things simpler to understand for people new to Bitcoin. In the next month or two we're going to switch to a BIP32 HD wallet (once it's implemented in bitcoinj), so new addresses will be generated from the seed every time, and then we'll rethink how to handle this in the UI. As a Hive team member, what I hope to see a move away form addresses altogether. Mike Hearn's bitcoinj will facilitate address uniqueness and Payment Protocol will further reduce the exposure of the user to PubKeys |
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Regarding the "ether business model". What exactly do you mean by "fee regulated and thus require Ether to function" (see your post above)? How exactly does that work?
Again, this shit is waaaay over my head, but what i read that to mean is maybe like the transaction fees we already pay to send coins from our wallets? That's my understanding. Fee regulated = the network requires fees to operate and maintain (i.e. transaction fees, contract fees, etc). As I understand it, this is primarily an anti-spam measure, as otherwise looping contracts could be created which overwhelm the network. Require Ether to function = I believe this is simply a nod to the point that Ethereum has an internal currency despite being able to build currencies atop. The paper states the currency (Ether) is to serve as both a mining reward and a mechanism for paying transaction fees. |
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The updated Bitstamp app for Hive is done and available at https://github.com/tgerring/hiveapp-bitstamptrader/releases. All the standard trading/transfer functionality works (no more copy/pasting deposit addresses!), though it could still use a little polish here and there. If you're interested in developing an app for Hive Wallet, the code behind this is simple HTML/jQuery and makes use of several parts of the Hive API. This will (eventually) be bundled with the app in subsequent builds. Here's a screenshot preview:  |
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I've been working on a new Bitstamp app in light of both their and our API changes. It's a fairly simple HTML/jQuery app with Bootstrap styling--no compilers/preprocessors are used, so it should be very easy to inspect to design your own app using this as an example. It makes use of several common Hive Wallet API features including: send bitcoins, get user address, and get user locale. Additionally, this is the first app to make use of our new storage API so it will remember your API secret and automatically log you in to your account. You can follow the project on GitHub at https://github.com/tgerring/hiveapp-bitstamptrader and here's a screenshot (though already outdated):  |
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Thanks to genjix for getting the ball rolling on this project!
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Why , instead of .?
It's a localization setting. Many countries use a comma instead of a period as the separator |
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Hi, I'm just trying to get my head around what this is, and I'm sorry I haven't read too much yet. As I understand it, the hive app is an app which is or will be a bitcoin wallet, but also offers an API for people to create their own bitcoin related games which can be played with the bitcoins in the users wallet. Is that right or am I way off?
Hive is a Bitcoin wallet for Mac OS X Hive wallet also has a API, allowing developers to build apps that live inside the wallet itself, making it easy for Hive users to interact with Bitcoin services directly. Since it's HTML/CSS/JS-based, anything that can run in the browser can be an app. |
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Hey congrats guys I love it when two people I enjoy the company of hitch their wagons to strike out against nazi zombies. Wendell, any more acquisitions on your plate? Taylor, will this effect your volunteer work with LTB? I still plan to be very active in the Bitcoin community, working not only with Hive, but also writing for LTB and generally trying to be a contributor across the community. |
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