I wouldn't mind bitcoin going to <$10 again, so I can buy back the hundreds of bitcoin I lost to this company.

That was my point Vince, it's likely we will be waiting a few years until the share trading situation resolves. The key to Government is to bleed companies dry of time as a means to render them inert.

Anyway, before it's 2016 and we still are not trading, I would very much like my dividends.

For all the tens of thousands and hundreds of thousands many of us invested, we can't even get the dividends. The dividend is our property and we should get direct dividend payments as soon as possible.

I'm actually in need of these dividends as I have many things I want to do with them. Letting them sit in that address does me no good.

If we don't trade for several years (a realistic possibility at this rate) then Ken can setup a script hardcoded to take the dividend and send it out to all the shareholders addresses. This script can have the addresses hardcoded because it's not like they can change at all.

Many of us can help Ken build a simple script that plugs into perhaps BitcoinJ to do this. One of the hardcoded addresses can be to CryptoTrade so that they can be paid out via the trading platform.

Thanks Ken.

I think you're misunderstanding how Electrum works.

The seed is generated on your PC and is deterministic, so that seed is used by the Electrum client locally to generate your private/public keys.

The server part is only for the blockchain, no keys go to or from the server. I believe if you look in the source of Electrum and replicated the deterministic algorithm you can replicate your wallet in any program if you have the correct seed. This is an entirely offline operation. Electrum is not a web wallet at all.

You have the private key of a public address in your Electrum wallet, and thus should be able to use it for the purposes being discussed here.

In relation to this question, I would be interested if the Core team feel more opcodes are needed to compete with Ethereum?

Wait what? Isn't Electrum a wallet where you have access to your private keys? Why can't you use Electrum?

Thanks

How do you add 40 bytes of data into the blockchain?

So the majority of the IPO is stolen Gox funds and apparently the sourcecode is a copy of a 14 year old's repo.

Well good thing I held off on investing.

If the IPO releases 10% of all safecoins, then how will people farm out their resources when they can no longer generate new safecoin?

And I am guessing the IPO is over?

Safecoins are a completely separate currency? Not running on top of Bitcoin?

I don't know too much about that stuff, but I was under the impression we are only buying the ASIC from Hashfast and we have based the boards off of the reference design, but rather had them contracted out to an engineering firm to build.

So we shouldn't we buying any hashfast boards at all.

I would too like an explanation.

Ken, any chance you can get the other 150TH/s online in the next 24 hours? I think ActiveMining have only sold about 10TH/s worth of miners so it can't be because we sold them.

The entire system is it's own token. This is an alternative coin, not a security. I'm confused as to how they would issue their own currency and their own blockchain using mastercoin.

I'm not sure a billion dollars worth of merchant exchange is currently going on. This method might still take upwards of five years. Unless Bitcoin takes off mainstream.

Assuming ether is 1000:1 bitcoin.[1]

They are likely to raise 40,000 bitcoin. + 40% for themselves. This makes the genesis about 68,000 bitcoin * 1000 ether { 68,000,000 ether} to begin with for a supply that will be 30% or 20,000,000 ether per year.

In ten years the supply will be:

68,000,000 ether + ( 10 years * 20,000,000 ether mined per year) = 268,000,000 ether in circulation.

Everyone talks about the mythical $10,000 bitcoin, so lets use that as a guide for the next 10 year target.

Assuming in 10 years there are about 16 million bitcoin this brings the entire supply being worth about $160,000,000,000. (@$10,000 a coin)

So under this model your bitcoin gains 20 times value in ten years, not bad.

If the Ethereum supply instead is worth $160,000,000,000 because Ethereum became the main cryptocurrency due to it's potential intrinsic qualities [2] then that makes each ether worth:

$160 billion / 268 million ether = $600 per ether.

That means a one bitcoin investment in ether now works out to be worth 1000 ether in the future @ $600,000 total.

This model gives your one bitcoin investment into Ethereum a 1,200 times value increase in ten years.

This entire analysis kind of assumes one of either Ethereum or Bitcoin win as the primary cryptocurrency. In the real world we might find they co-exist at a ratio.

The good thing is that if Ethereum is 60 times smaller (market cap) than bitcoin, you still have equal value. Anything above that ratio nets you more value per ether and below that ratio nets you less value. [3]

Considering Litecoin exists at a ratio of 1:18~20 I find it very likely that investing in Ethereum makes you more value.

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[1] The actual ratio doesn't matter at all for working out value.

[2] This assumes ethereum can be the primary power under web 3.0. It's likely native bitcoin can be made to compete via script upgrades or sidechains.

[3] If the market cap of Ethereum is 60 times smaller than bitcoin, taking our previous end values, bitcoin worth $10,000 and ether being worth $600, a 60 times reduction in ether value makes ether worth $10 and 1000 * 10 ether = $10,000

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Notes:

- If over 200,000 bitcoin are raised in the IPO, it's very likely your return on value will be borderline not worth the risk. Personally if the genesis block is worth upwards of 80,000 bitcoin I will personally not take part.

- If the bitcoin core developers add more op codes into script or solve the sidechain mining issues, then it's possible ethereum value is completely destroyed.

- If ethereum becomes silver to bitcoins gold and replaces Litecoin, the 1:20 ratio will likely give your investment 3 times growth over just holding bitcoin. (If IPO starts of at 68,000 bitcoin via a 40,000 bitcoin raised)

What's with the zerocoin/zerocash trust?

Even the experts that have invented it admit to an insane gaping hole: Someone needs to make the accumulator and then 'destroy' the key.

If that key is kept some third party can un-anonymise all the zerocash transactions forever.

It's likely the key will be kept and sold to the NSA for however many billions, in anticipation of it taking off.

Well the idea brings a smile to my face. At $3,000,000 per day it's likely bitcoin would surpass the $100,000 per coin mark in several months and the $1,000,000 coin will be within a couple of years.

At the moment getting a billion into bitcoin and not losing your principal because you pushed to price artificially high is simply not possible.

Less than 8% of all bitcoins are available on exchanges and other sources for purchase.

Putin would be better off buying about $500,000 worth per day for the foreseeable future, it's not going to be a billion for a long time, but it's the safest way to do it. Even now I think $1,000,000 a day would be too much.

Other sources are the holders of 100,000+ bitcoin, but why they would sell and loss an instant 25% to tax I don't know.

Putin could get a hundred million fiat into bitcoin if given a year, but a billion is not realistic.

Of course in a couple of years, if Ethereum or Bitcoin is truly a 100,000,000,000 economy, getting 1 billion becomes much easier (Of course if this happens, his 100,000,000 this years becomes worth billions in its own right)