2014-03-01 Keiser Report: New Crypto Phenomenon Ethereum (E569)

[freedomno1]

Starts with Mtgox then the project
Keiser Report
http://www.youtube.com/watch?v=hdAnyC45ZbU#t=14

[howardb]

Starts with Mtgox then the project
Keiser Report
http://www.youtube.com/watch?v=hdAnyC45ZbU#t=14

Yeah Ethereum project is great once you understand it, but it's doing a singularly bad job at communicating to the world what it is. Until that changes it's failing to reach the very entreprenuers that are needed to layer products on top of it.

[freedomno1]

Starts with Mtgox then the project
Keiser Report
http://www.youtube.com/watch?v=hdAnyC45ZbU#t=14

Yeah Ethereum project is great once you understand it, but it's doing a singularly bad job at communicating to the world what it is. Until that changes it's failing to reach the very entreprenuers that are needed to layer products on top of it.

It will take some time for the idea to percolate down to the masses like with Bitcoin just getting into popular usage 5 years later, so I don't see it happening immediately it might be a few years down the road yet, but it does make a natural extension of Bitcoin.

Bitcoin went
Crytographers
Computer Scientists
Entrepreneurs
Financiers
Then mostly regular users

Ethereum will likely follow a similar route

[runam0k]

Doesn't ethereum require its own blockchain i.e. it's an altcoin, albeit not a cut and paste?

I can't help but think all energy should be focused on taking Bitcoin mainstream. Ethereum and projects like it dilute and take talent away from Bitcoin and ultimately make it more likely that no cryptocurrency will succeed.

Or am I missing something?

[freedomno1]

Doesn't ethereum require its own blockchain i.e. it's an altcoin, albeit not a cut and paste?

I can't help but think all energy should be focused on taking Bitcoin mainstream. Ethereum and projects like it dilute and take talent away from Bitcoin and ultimately make it more likely that no cryptocurrency will succeed.

Or am I missing something?

Ethereum tries to create a system that's developers can create onto to it and tries to address bitcoin scaleability
They want to be the oil to bitcoins gold
Guess their example is the internet in 1995 and then in 2005 pretty with their goal addressing Satoshi's 3rd point (Video on ethereum explains that a bit better)
https://www.ethereum.org/
https://github.com/ethereum/wiki/wiki/%5BEnglish%5D-White-Paper

Ethereum intends to serve as a superior foundational layer offering a uniquely powerful scripting system on top of which arbitrarily advanced contracts, currencies and other decentralized applications can be built. If existing colored coins and metacoin projects were to move onto Ethereum, they would gain the benefits of Ethereum's simplified payment verification, the option to be compatible with Ethereum's financial derivatives and decentralized exchange, and the ability to work together on a single network. With Ethereum, someone with an idea for a new contract or transaction type that might drastically improve the state of what can be done with cryptocurrency would not need to start their own coin; they could simply implement their idea in Ethereum script code. In short, Ethereum is a foundation for innovation.

[cbeast]

It's hard to criticize something that is still in the planning phase. It really seems as though they are feeding Bitcoin to the bears by making them wait until Goldilocks finds just the right fit. Anyone trying to raise funds to make Bitcoin super awesome now won't even bother because you guys will take all their investors away. I'll just wait for someone to build a better mousetrap.

[GVanelly]

All energy should be focused on taking Bitcoin mainstream! Then everything will be better

[freedomno1]

It's hard to criticize something that is still in the planning phase. It really seems as though they are feeding Bitcoin to the bears by making them wait until Goldilocks finds just the right fit. Anyone trying to raise funds to make Bitcoin super awesome now won't even bother because you guys will take all their investors away. I'll just wait for someone to build a better mousetrap.

Well I think its the endgame for a while but there will be building blocks all around before we get to it
Either way I see it as 5 years in dev time away and then a few years after for implementation and usage to rise

[cbeast]

It's hard to criticize something that is still in the planning phase. It really seems as though they are feeding Bitcoin to the bears by making them wait until Goldilocks finds just the right fit. Anyone trying to raise funds to make Bitcoin super awesome now won't even bother because you guys will take all their investors away. I'll just wait for someone to build a better mousetrap.

Well I think its the endgame for a while but there will be building blocks all around before we get to it
Either way I see it as 5 years in dev time away and then a few years after for implementation and usage to rise

They also haven't thought of everything. B^3 layers are probably not possible with Ethereum. Sure, it has great potential for B^2 applications such as contracts, but large enterprise applications may be beyond its capabilities. I expect development efforts for Ethereum will abandon it when money starts going into Bitcoin development to use the Ethereum ideas. Many nations grew their economies by copying the pioneering work of so called capitalists.

[freedomno1]

It's hard to criticize something that is still in the planning phase. It really seems as though they are feeding Bitcoin to the bears by making them wait until Goldilocks finds just the right fit. Anyone trying to raise funds to make Bitcoin super awesome now won't even bother because you guys will take all their investors away. I'll just wait for someone to build a better mousetrap.

Well I think its the endgame for a while but there will be building blocks all around before we get to it
Either way I see it as 5 years in dev time away and then a few years after for implementation and usage to rise

They also haven't thought of everything. B^3 layers are probably not possible with Ethereum. Sure, it has great potential for B^2 applications such as contracts, but large enterprise applications may be beyond its capabilities. I expect development efforts for Ethereum will abandon it when money starts going into Bitcoin development to use the Ethereum ideas. Many nations grew their economies by copying the pioneering work of so called capitalists.

A possibility at the very least but it does provide a framework and rough guideline by which future ideas and applications on the Bitcoin network will be based, kind of like drawing a sketchpad of where you want things to be in 5 years and then other people looking at that image and adding or changing their contributions to help address particular aspects of it here and there.
A mesh of different ideas and what not.
Information sharing does have its applications and economies most certainly do grow from using other peoples ideas on large scales.
And its not like you can copyright an idea at least at that stage so innovations will still occur in phases based on a rough guideline based perspective

Not quite sure what the B^2 and B^3 layers are and if I'm thinking of are the same applications you are can you define that part a bit
Assuming the OSI model and the issue of data link layers versus network layers but would like to clarify that
http://en.wikipedia.org/wiki/OSI_model

[madsquirrel]

I can't see the video. somebody can briefly tell me about it?

[freedomno1]

I can't see the video. somebody can briefly tell me about it?

Have a duplicate try this one 
http://www.youtube.com/watch?v=9bpFCHsG_SM