Haha - yes.  But anybody is allowed to have any stupid opinion on the internet.  Including me.

Crypto is being treated as something different than strictly "not currency" AND different than strictly "currency"

You don't have to pay capital gains unless you pull it out.  Above article I posted.  Etc, etc.  So if/when the SEC will step in is anyone's guess.  I have a very difficult time seeing them stepping in to protect consumers who have intentionally stepped outside of traditional money markets in this situation.

I could be wrong.

I stand half way corrected.

http://www.theverge.com/2014/1/31/5364406/bitcoin-miners-investors-not-regulated-fincen-ruling

Except.  It won't work.  

No one is giving a DIME to Ethereum.  They are giving bitcoins.  Bitcoins are not a currency.  So normal rules don't apply.  What most people don't realize is that if normal rules DID apply.  All investors would have to make >250K a year and legally prove it.

Do you think the government (assuming they thought this was fraudulent) would love to see a bunch of people lose their bitcoins?  To teach them a lesson about the value of real currency.  And the protection of the SEC vs the wild west of crypto?

My .02 FWIW

Yeah - see this is the deal.  If people think Eth is worth 500K - then it will start out being funded and valued at 500K.  If they think it's worth 30mil - then it will be worth 30 mil from the get go.  My impression is that the founders expect this to take off.  And they are comfortable with 500K or 30mil.

People need to do more thinking in terms of "how big is the pie" vs "how much of the pie who gets".  The initial investors are largely determining how big the initial pie is.  The pie will continue to grow to pay miners at a set rate.  I don't get what the big deal is - IF this works there is a lot of money to be made.  But not for a few years.  The pump and dumpers should probably avoid this one. 

I'm still trying to figure out exactly where the initial bitcoins are going to wind up.  Hope they release more in the prospectus.  My impression was that the usage of bitcoins was going to be completely transparent.  But there is so much shit going around I honestly can't tell.

Capitalism is never fair.

I was just thinking about this today.  Somebody SERIOUSLY needs to do something about eBay + paypal monopoly.

What about enabling users to confirm their ebay identity and import their ebay feedback?  Maybe by listing something on ebay thru their account for $1, allowing your auction site to "purchse" it and deliver the good (a fraction of a bitcoin \ a mailed form envelope) to confirm identity.

Being able to duplicate ratings from ebay could add a lot of value ....

Yeah ... I have something to say to this.  19 years old is PERFECT for this project.  I'm 28.  In this ever more rapidly evolving world it is going to take some one who's mind hasn't been polluted with the traditional way of doing things to have a nimble enough thought process to pull something like this off.  There are ever larger generation gaps in shorter periods of time - there are at least two between his and my age.

Reading over his few posts they are well synthesized.  Understanding him taking real world concepts and incorporating them into technology.  Vs just getting lost in "what we can do"

I am not a low level developer.  More of a business \ scripting dabbler.  But in my experience it is rare to have somebody apply as many real world concepts to a project as what I've seen him write about AND be a genuis.  He is bucking some of the cryptocurrency tradition in favor of other traditional business / economical concepts - it's a rare mixture of both.

I'm not going to pretend to understand everything, or half of what I've read about Ethereum.  But where much of bitcoins assumed value comes from difficulty obtaining bitcoins, low supply and high demand.  It's more like collecting baseball cards in some ways than currency.

This looks to me more like the way it is structured to reflect a real economy.  The value is based more on widespread adoption and the complexity of the transactions available.  I hope the inflation is able to stabilize the value of the currency. 

Yeah ... I've dug into the difficulty projections just a little and agree with you.

Guess what I don't quite get is if ASICS are obsolete as far as break even on the hardware while the hardware company is still selling them.  Eventually something has to give.  Wondering what that will be and how.

Higher prices plus the manufacturers switching from individual investors to deeper pockets.  Or just internalize all their own equipment with the money they've made with the first and second gen ASICS.

Just a disclaimer - I'm a noob.  

After this next release of miners going up to 3TH large companies will move mining in house and continue the arms race seems to be the consensus.

My question is ... speculatively speaking what comes after these latest machines?  From what I can tell - efficiency has increased approximately sixfold from Jupiter to Neptune.

My impression (and this could be completely wrong) is the efficiency squeezed out of the new technology was the low hanging fruit.  But isn't producing a machine that is twice as $/Mhs efficient as current gen Neptunes going to be as difficult as the 6X jump from Jupiter to Neptune?

You gotta think "Would this guy trashing his reputation be worth X" with x being auction price.

With a 0 rating, I'm gonna say yes.

Honestly - I appreciate the restrictions.

I'm kinda bored and ran across the entire butterfly labs thing.  Decided I had to have one - so I'm trying to buy a place in line for a 30gh/s model off a guy on ebay who is in the Sept 2012 batch.  Currently having trouble with btcinstant (pretty sure I'm going to NOT recommend this one to anybody in the future.)

The idea of bitcoin and litecoin is kinda cool - may have to get into it more.

Ugh ... I'm having the same problem with btcquick.  $800+ and I think I'm about to lose the seller.

How much?

I'm using coinbase.  From what I understand - if you're doing a lot it should probably be local.

I am a noob.

How much lag time is there between the time the transaction begins and ends - and does it use the current market price for bitcoins?

Was browsing around - and single bitcoins are going for $120+ ... can't figure it out.