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121  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Ethereum: Welcome to the Beginning on: January 30, 2014, 10:24:47 AM
Quote
A turing complete language for the script language sounds academic to me.  It would require a lot of limitations to make sure people are not putting malicious code into their transactions.

Sure there would be limitations. It cannot work in any other way. I will assume this will have to run within some sort of sandbox. I speculate that apart from interacting with well defined objects within the platform it will be able to do little else.

Look at Javascript today, it runs in your browser with restrictions, i.e. it can do web related tasks but not others like creating files or accessing file systems. That is called a limitation. It is also constrained by scope, so cannot be privy to information between your browser and another site. That is also a limitation.

With a turing complete language you can expect such restrictions, without them you will have security nightmares, likely still have little loopholes that will have to be plugged along the way while the system itself matures.

122  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Ethereum: Welcome to the Beginning on: January 29, 2014, 04:00:16 PM
if btc = $800, that means 1 ether = 40 cents.

Only if you bought it in the first week

If however you bought it in the last 3 days ether cost 80 cents (@800$ a btc)
123  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][XCP] Counterparty Protocol, Client and Coin (built on Bitcoin) - Official on: January 29, 2014, 03:12:45 PM
The main disadvantage of the 'meta-coin' approach is that there can't be any SPV clients (someone needs to store the whole blockchain, as it were), but there are plenty of ways around that.

OK I don't understand the behind-the-scene details of SPV clients other than the fact that it does not do its own verification but connects to a trusted node. I feel like I am missing something here. Why couldn't a thin client do the same with XCP.
124  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][XCP] Counterparty Protocol, Client and Coin (built on Bitcoin) - Official on: January 29, 2014, 02:18:12 PM
How flexible is the Counterparty Protocol in terms of it being run atop other alt-coins instead of just Bitcoin?

Has anyone got any opinions about which alt-coin might be the optimal base for Counterparty?

Most alt-coins are nearly identical to Bitcoin, and Counterparty will run fine on any one that is. It would need a little tweaking for something like Namecoin or Peercoin, but not much, I think.

By which you mean support for OP_RETURN feature of Bitcoin? I think I read something on that before, i.e. that it is used to store data on the XCP transaction taking place.

I was reading an article on one of the bitcoin magzine websites and they mention that apart from the obvious external dependency (i.e. btc blockchain) the other problem is that it could be sluggish or time consuming searching the block chain for specific transactions that have stored XCP data. Is this a concern for you at this stage.
125  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Ethereum: Welcome to the Beginning on: January 29, 2014, 12:03:55 PM
The question is not about the right to participate. The question is why is Charles proud of that fact? It looks like a major inconsistency to me. It is like working on a new mail server app and in the same time promoting your project by saying that some members of your team worked in the local post office and were among the best postmen?!

BTW, why has Charles parted with BitShares and Invictus project? What happened to the 0.5 million VC there? Are his investors happy with current state of BitShares and Invictus?

Who says he's "proud"? To me it just sounded like he said it in passing.
In a promo campaign you never say something that you don't take special pride of!

At the risk of running in circles I think he merely stated it - not to show off or be proud of the fact - but as a way to showcase the credentials of the people involved in the project. If I were announcing a project of my own and had a number of people involved then I would like everyone to know that my team is solid. Unfortunately for Ethereum, people read more than that into such a statement.
126  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Ethereum: Welcome to the Beginning on: January 29, 2014, 11:58:45 AM
Can't you do all this with NXT to?

Some of it you should be able to do when more features have completed and matured in the NXT development cycle like decentralized exchange. But there are many other differences, like turing complete scripts and a decentralized (and incentivized) platform to achieve any contract not just a financial instrument. So down the line other developers (unrelated to the Ethereum project team) can build applications that take advantage of this. From a mining perspective it is some sort of hybrid between PoW and PoS while NXT is completely premine.
127  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Ethereum: Welcome to the Beginning on: January 29, 2014, 11:02:03 AM
If you see his latest post he claims he's so excited about buying in on this he was trolling to try and reduce the volume of the buy in, in the hope of making his stake bigger. Why he spent so much time passionately trolling the thread to admit that before the buy in is beyond me!  Huh

As the time nears, he changes his strategy. He has created allies, and people that sympathise with his cause. You were led by a trickster king. He'll buy in plenty, don't you worry. Trolls feed on confusion.

It's unfortunately really messed this thread. People have come here and believed in 36 million dollars BS, GS conspiracy theories. Conversation has not moved beyond issuance which is a real pity because there is so much more to this project and so many important questions that could/should have been raised.
128  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Ethereum: Welcome to the Beginning on: January 29, 2014, 10:57:27 AM
Does anybody understand, what was the point of Gunshot's 100 posts?

To scare the shit out of everyone and abuse anyone asks why.
129  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][XCP] Counterparty Protocol, Client and Coin (built on Bitcoin) - Official on: January 28, 2014, 03:39:14 PM
Looks like you can buy 1 XCP for ฿0.01 here:

http://btc-market.net/bitcoin/buy-counterparty-xcp.html

That is quite a markup. Shocked

Especially when you can still burn and get a minimum of 10 XCP for that price.
130  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Ethereum: Welcome to the Beginning on: January 28, 2014, 06:20:38 AM
Fourthly: Which white paper, cause they've changed it so many times I can't remember what the original looked like?  Let me guess, your buddies told you about Bitcoin last summer and you thought it was neat, welcome to the party dork.

The issuance part has been changed once - so to claim it has changed so many times that you can't remember is basically exaggeration. Moreover this is Alpha stage, surely you should know that things are subject to changes and reviews during Alpha stage.

To invest or not to, to buy after the IPO or to mine are all valid options and if you want to participate in the project, depending on your risk you can chose any or all options or none if you don't like what you see. But at least wait until all details are finalized before judging them.
131  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Ethereum: Welcome to the Beginning on: January 28, 2014, 03:40:45 AM
I don't have opinion yet.

But did any of you see the post by the guy who attended the Miami conference?

He clearly stated that the 30,000 BTC was a self imposed cap on fund raising.  It was not the amount they're claiming they need.

He clearly stated that V named 500 BTC as what they actually need.  If they have that, they can continue with the project.

Stop saying they're demanding 30,000 BTC from investors.  Apparently its not factual.  Or its lacking some information.

If this became a 500 BTC IPO .... would that make people happier? 

It does not matter because there are a number of people who want to run this project to the ground with complete misinformation. They will stick to their claim of 30,000 BTC and 36 million dollars paying no heed to others. They twist every little piece of information that has been listed with their lies and have completely infected this thread. People who are too lazy to read the original posts or comprehend it correctly buy into their lies.

If you like this project you are either a "HUGE" investor, or scum of the earth or a wall street stooge or your are simply getting paid to mislead people. They will bully, intimidate and abuse you until you no longer give a shit about clearing this misinformation. If you want information on this project this is no longer the thread to seek, look for information on their official website and forum, you might be able to decide if you want to invest or not to.

I have no problem with the opinion that the founders are asking for too much (BTC and premine share) but the numbers being thrown around has become the theater of absurd.
132  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Ethereum: Welcome to the Beginning on: January 27, 2014, 04:48:05 PM
If I have .1 BTC to invest, will I be able to invest that small of an amount?

Yep

Lowest is 0.01 BTC
133  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Ethereum: Welcome to the Beginning on: January 27, 2014, 04:24:04 PM
Will this coin be cpu or gpu mined?
Should be both.

From what I understand gpu mining is not going to give you that much of an advantage over cpu.

So when will mining be possible? After feb 1st or after the fundraiser limit has been reached after 2 months?


I don't like this, they remind me to HSBC not allowing people to withdraw: "The fiduciary members will be vested over a 12 month period and cannot divest more than ⅓ of their position per year thereafter"

1. Mining is slated to start after the completion of 2 months from 1st Feb, so the earliest date is 1st April
2. You and I are not fiduciary members. Fiduciary members in this case are the 4 founders, early stakeholders and partners, not even those that receive remuneration/bounties in ETH for being part of the project.


Alright, you mentioned gpu not much advantage over cpu, but doesn't gpu have more hash rate thus more coins that will be mined?

http://wiki.ethereum.org/index.php/Dagger

I don't know how much a significant advantage gpu will give over cpu. The devs of this project want to ensure that mining hardware does not get centralized so that only people with deep pockets can invest in ASIC hardware. They predict that CPU mining will still be possible with this and specialized hardware will be impractical.

134  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Ethereum: Welcome to the Beginning on: January 27, 2014, 02:03:03 PM
Could you please put some more light on this statement, for example, if I invest 1 BTC within the first week, how much Ethers will I end win at the end of the fundraising period?
its in the white paper under currency and issuance
http://ethereum.org/ethereum.html

This is my understanding on the issuance. A simple spreadsheet that will give you a bird's eye.
135  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Ethereum: Welcome to the Beginning on: January 27, 2014, 01:31:16 PM
is there a minimum I can invest?

I think the minimum is 0.01 BTC
136  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Ethereum: Welcome to the Beginning on: January 27, 2014, 01:27:43 PM
What about the costs founders estimate to have after the launch?

You know, the good old spreadsheet...

Not yet disclosed to the public AFAIK We should hopefully know more now that the Miami conference is over.

"Kinda" important if you want to know what they're up to.

I agree

There is the much derided prospectus to be released on 1st Feb. I will look for any new information on there and also their official website.
137  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Ethereum: Welcome to the Beginning on: January 27, 2014, 01:23:53 PM
What about the costs founders estimate to have after the launch?

You know, the good old spreadsheet...

Not yet disclosed to the public AFAIK We should hopefully know more now that the Miami conference is over.
138  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Ethereum: Welcome to the Beginning on: January 27, 2014, 01:14:21 PM
As I mentioned before im still looking at the merits of this project but the disninfo in this thread is staggering.

+1

I am fast reaching the point where I see no need to correct this misinformation, some of which is clearly deliberate.
139  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Ethereum: Welcome to the Beginning on: January 27, 2014, 01:04:57 PM
@lonsharim
OK now I understand. /corners away Wink

How about



  • Early investors for taking a great risk due to the uncertainty of investment will be rewarded by a bonus of 2*initial investment for the first week and then this bonus decays by 2 percent per day for the remainder of the fundraiser until it reaches a floor of the base exchange rate of 0.001 BTC per 1 Ether
  • After the fundraiser closes, the total sum of ether produced will be denoted as X and we will instantiate a premine of 0.50*X for the fiduciary members, early stakeholders, strategic partners



Is this a classical premine? Where premine goes to coin publisher, OP, bounties whatever.
Or is this premine returned to investors?

Because if not, who the hell are these so called Early stakeholder, if not before mentioned Early investors themselves?

Investors are not early stakeholders. Investors own no part of 0.50 * X, we can potentially own a fraction of X as investors.

Early stakeholders could be any person or institution who contribute in any form useful to the project other than in BTC. We will know more when they disclose more information. They have already mentioned that they are partnering with Krypokit and Hive, it has not been made clear if Hive for instance will receive some ether in return but I am assuming they will. There is no free lunch after all.
140  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Ethereum: Welcome to the Beginning on: January 27, 2014, 12:56:42 PM
Will this coin be cpu or gpu mined?
Should be both.

From what I understand gpu mining is not going to give you that much of an advantage over cpu.

So when will mining be possible? After feb 1st or after the fundraiser limit has been reached after 2 months?


I don't like this, they remind me to HSBC not allowing people to withdraw: "The fiduciary members will be vested over a 12 month period and cannot divest more than ⅓ of their position per year thereafter"

1. Mining is slated to start after the completion of 2 months from 1st Feb, so the earliest date is 1st April
2. You and I are not fiduciary members. Fiduciary members in this case are the 4 founders, early stakeholders and partners, not even those that receive remuneration/bounties in ETH for being part of the project.
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