Is it a currency or a platform for new alt currencies. M nt able to understand
Besides,if I do invest.. How will I reap profits?
P.S. My background is not computer science.
Not sure if you've seen the videos, but they're pretty good at explaining what Ethereum is without getting too technical: (1) Introducing Ethereum (by Vitalik Buterin and Charles Hoskinson - 2/4 of the Ethereum founders) (2) What is Ethereum? (by Andreas Antonopoulos - note that I don't know if he's linked to the project) |
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So the IPO is on Feb 1st 0:00 GMT? Do we post here to invest or is there some other site we invest on? Can someone clarify the process and the investment limits/distribution method? Thx
No. The fundraiser has been pushed back. No date has been announced yet. See the latest blog post about it. Anything that tries to take your money that claims to be the fundraiser is a scam. |
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I hate to bring this up, but is it possible to get a statement about what happened with Invictus? I don't care about details if that's not necessary. My only concern is to find out whether there's a possibility of a disruption like that with Ethereum, which could affect the project if we're focusing on the longer-term. There were strategic and creative differences in the company and eventually it lead to a parting. We have since resolved all issues and it's considered to be a closed issue. If it's any consolation, Invictus is doing quite well as a company and shipping products thus I suppose the business plan wasn't too bad. Unlike Invictus, we had a chance to get to know each other here on the Ethereum team and I'm very good friends with Anthony and Vitalik. We've collaborated first on the Bitcoin Education Project and his work on the Bitcoin Alliance of Canada. Ultimately, you have to make sure you have good team dynamics and respect prior to launching a venture. We did that here with Ethereum and even lived together at a beach house in Miami for a week to see how much we could get on each other's nerves. This really is the best team I've ever worked on. This is great! Thank you. I think some of the growing pains we're experiencing in this thread are attributable to the idea that we're trying to evaluate Ethereum in terms of what we've been exposed to so far in the "anything that's not Bitcoin space". We can't evaluate a different paradigm adequately using the same old methods. You guys have a long-term perspective, and want to put organisational power behind the ideas. Contrary to what some people seem to believe, that's actually a really good thing. Running it like a community-engaged organisation, as well as being members of that community, is a powerful thing that'll bring many benefits. Without your team being vested in what you work on, how can you steer this ship into uncharted oceans? People need to remember that those who work on this aren't labourers, they need to be vested to ensure the longevity of benefits to the community. Anyway, I don't want to sound like a pro-Ethereum shill, but I welcome something new and look forward to being part of it. Hard work should be respected. EDIT: Can we get some swag too?  |
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I hate to bring this up, but is it possible to get a statement about what happened with Invictus? I don't care about details if that's not necessary. My only concern is to find out whether there's a possibility of a disruption like that with Ethereum, which could affect the project if we're focusing on the longer-term.
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We were never contacted by a regulatory body nor believe the models we have chosen are in any way in violation with relevant jurisdictions. This said, logistically and regulatorily, there are differences between raising 5,000 bitcoin and 30,000 in an equitable and fair way. We have a duty to those who trust us to do things the right way and have been in deep discussions for months about this topic with counsel from three different countries. I appreciate your concerns and they are indeed important to address and will be publicly once we announce the new fundraising date.
There are actually several models we could pursue if desired with some constituting a tax event without the need for any filing and others that could require one if we choose to accept certain jurisdictions. Ultimately, it comes down to what is best for everyone in the Ethereum community and what will allow for the best ROI for those who participate in the Ethereum Project. We are taking extra time to ensure this is answered in the most thorough way.
In the meantime, enjoy the testnet and all the other developments we will be launching in February and I'll see you guys soon in Zug.
I'm really glad you guys are doing this. We need funding if Ethereum is going to do what it plans to do. I support a fundraising mechanism both because I think it fuels the innovation and because not everyone has easy access to mining, so contributing in a fundraiser becomes accessible. It's a minor point, but I think it's one that's often overlooked. |
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"Because we intend on providing an equal opportunity to all those who want to be involved, and are reviewing the relevant logistical and regulatory issues for a fundraiser of this scale, we have decided to postpone the Feb 1 launch of the fundraiser. We will make the announcement of the new fundraiser launch date on our official website: Ethereum.org."
As I have been telling everyone all along, crowdfundraising of this size without proper legal filings was illegal. Obviously, they have been contacted by the proper regulatory agencies. This is why they have not been responding to questions regarding their investment structure in a detailed manner. They are reviewing their proposal internally with their attorneys. You can all thank me for at least being a voice for good judgement and hopefully they will proceed in manner does does not put your investments in jeopardy due to legal problems.
Yeah, good work! Great job scaring everyone and now the pool's closed. Nobody gets to swim now and we all have to go home. Thanks gutshot5820!  |
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If anyone is thinking about investing in this madness, send me your btcs and I'll hold onto them until you find your sanity.
Sent!  |
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Thank you for posting this video. People have been waiting for this one. It's the video of vbuterin's presentation at the Miami conference. |
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Also please be aware that LeoC sent this message to me via a PM: 10 BTC and I'll remove my posts even though they are factual and won't make any more. 15 and I will change my tune and promote. eMunie have already lost hundreds of BTC and were forced to cancel their IPO when I called them out here https://bitcointalk.org/index.php?topic=411366.0I was going to create a similar thread regarding Ethereum, unless you send the above amounts. I'd suggest you think long and hard about this. Which would you prefer to lose, 10 BTC or 1000, your choice. 1C7MPUTTWQjinfbRcQtW6HAc4ips7wMuiJ Please ignore the FUD. We are going to make every attempt to address all concerns. In many cases, with Vitalik and Me directly. I suggest everyone report LeoC for attempted extortion. That is beyond crazy and criminal. No way in hell the community should tolerate that. |
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Don't laugh at me, I'm a communist, not a capitalist like most of u.
That explains my intrinsic desire to fight your words with my words. |
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So you'll be happier and compliant once you can hear a slick employed PR mouth piece to make all your concerns seem silly. Some people deserve what they get IMO...
Okay, how about this. You now have the stage. Tell the Ethereum people exactly how they should do this. Statements like that need to accompany a solution or they're useless noise. |
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As for the fundraiser, innovation requires fuel and thus we'll make sure we get to it as soon as we can as well. Our goal is to be as fair and equitable as possible.
I really hope you guys can figure out the legislative and logistical issues with the fundraiser. There has been a lot of confusion about contributions, and terms like "investing" and "IPO" further confuse people because they imply some traditional type of inherent value and equity, when in fact people are buying lines of code that happen to be Ether - we in turn assign value to that as a community. I think fundraising in this way become inherent to fueling future innovation, and nobody can argue with that, so I hope you can find a way that works. In the early stages, some people fund, some people mine, and some people buy after it's shown to be something real. If there's room for all of those, it gets as fair as you can get. |
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Right. And I forgot to mention that Satoshi alone owns 2M BTC, Bitcoin's carbon footprint is the same as London's one, and that PoW is the only way to prove anything.
Please, stop bothering me with ur troll sentences.
Half this thread was hijacked by Nxt zealots. If I instigated this argument and someone just wanted some answers, then I'm sorry. It would just be nice to actually to talk about Nxt honestly for once. People don't understand the criticism of it, and the serious issues it has. But this is not the thread for it, so I'll can it. |
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We've done two things. First, we have hired a director of communications to help address as many questions as possible and he will be coming online as soon as possible (most likely Friday). Second, we are going to hold some form of AMA and build a complete FAQ.
Vitalik and I will also be trying to do some sort of regular Q&A session to fully address everyone's concerns. I'm really sorry for the delays in communication. Most of the team was in Miami and we were hit so hard down there with work it was nearly impossible to regularly check things here.
The best part about the bitcoin community is that they are very smart and have great ideas. I really do value a lot of the feedback we've received here and I make a promise we'll answer as much as we can as soon as we can. This said, it will take some time as the queue is really long, but hopefully we can at least address a lot of the core questions within the next week or so.
We are also releasing the centralized proof of concept testnet on Feb 1st and making an announcement about how we plan to better engage the cryptocurrency community on Feb. 20th or so. Please check out the code, look at the protocol specs, the high level language and the compiler we have, and write some contracts. Costa and co are building a full clearinghouse on top of the testnet.
Anyway, thanks everyone for your enormous patience and I look forward to hearing from you all soon.
Realised I pushed your post onto the previous page without much visibility. Is there any word on what's going on with the fundraiser? Even just a ballpark date range if you can't comment on terms just yet. |
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I can compare only Nxt and Ethereum:
1. Nxt is simple (for casual programmers), Ethereum is hardcore (for hardcore programmers). I think most of coders will choose Nxt if noone creates a simple Ethereum Contract Creation Kit.
2. Nxt can process 1000s transactions per second (coz of absence of scripts and Transparent Forging), Ethereum can't process too many transactions but they r much richer. I think these platforms would go on par if Nxt didn't have Transparent Forging. With TF Nxt will win.
3. Nxt has fixed supply of coins, Ethereum will be inflationary for a long period of time. Ordinary people prefer non-inflationary currencies.
4. Nxt is 100% PoS, Ethereum is PoW + PoS, so the latter is not so "green".
These r just a few points that came to my mind.
Please stop trying to talk up Nxt at every opportunity in this thread. You forgot to mention Nxt is vulnerable to nothing-at-stake attacks, poorly implemented in Java (known for security!), you can't store anything in an offline wallet, and the currency is owned by 71 people who sell it to everyone else. Just get real if you want to talk things up. |
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Conference, Alpha Testnet and Fundraiser Updates
January 29, 2014 - By Team
Ethereum received an incredible response at the Miami Bitcoin Conference. We traveled there anticipating many technical questions as well as a philosophical discussion about the purpose of Ethereum; however, the overwhelming amount of interest and enthusiasm for the project was much larger than we had anticipated. Vitalik’s presentation was met with both a standing ovation and a question queue that took hours to address.
Because we intend on providing an equal opportunity to all those who want to be involved, and are reviewing the relevant logistical and regulatory issues for a fundraiser of this scale, we have decided to postpone the Feb 1 launch of the fundraiser. We will make the announcement of the new fundraiser launch date on our official website: Ethereum.org.
The Ethereum project is also excited to announce the alpha release of the open source testnet client to the community at the beginning of February. This will give people an opportunity to get involved with the project and experiment with Ethereum scripts and contracts, and gain a better understanding of the technical properties of the Ethereum platform. Launching the testnet at this date will give those interested in the fundraiser a chance to better understand what the Ethereum project is about before participating.
The testnet will include full support for sending and receiving transactions, the initial version of the scripting language as described in our whitepaper, and may or may not include mining. This will also be the first major cryptocurrency project to have two official clients released at the same time, with one written in C++ and the other in Go; a Python client is also in the works. A compiler from the Ethereum CLL to Ethereum script will be released very soon.
A note on security
The fundraiser will NOT be launching on February 1st and any attempt to collect funds at this time should be considered a scam. There have been some scams in the forums thus please use caution and only consider information posted on Ethereum.org to be legitimate. It is important to reinforce to all that only information released and posted at Ethereum.org should be trusted as many are likely to impersonate us.
Thank you for posting that here as well, in case people miss it. We've maintained a list of community questions in post #634. Is it possible to get some direct answers on these at one point? I think it covers most of the concerns people have here. |
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Hope not.... For Vitalik is his reputation and future in the crypto-currency world at stake. He won't dare to risk such an uproar from the community again, IMO....
Maybe you're right. It becomes very difficult to please everyone when you have a long-term perspective. |
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Very good news, indeed!
I'd have been very disappointed with Vitalik, if he'd have pushed through with the IPO & launch under this terms. He'd have lost his reputation, IMO....
Let's see what happens. There might be no changes to the structure. It could be a case of not being ready server-side, hence "logistical" issues. |
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Good.
Don't know if they'll change any terms. I wonder how long until we hear about the new fundraiser? |
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They changed the headline on their webseite to "testnet release in....." This means IPO cancelled? http://www.ethereum.org/Not cancelled. Pushed back it appears. See my post. |
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