[ANN] (QTUM) - A Scalable Smart Contract Platform w/ Proof of Stake

[cybterpunk]

any bounty plan for community or promotions?

thank you

[1714940370]

1714940370

[cybterpunk]

after invest， when can i trade and when can i get the Qtum token?

thank you very much.

[pugman]

Patrick collected 200BTC & 200bitbays (worth around 100btc) From the ICO and ran.
He did no work and left David Zimbeck holding the baby. BecUse of this David has been working for free for 2 years on bitbay.

Patrick has been dumping his FREE 200bitbay on investors for 2 years artificially holding the price down and in the process earning him around 100btc!

He is a scam artist and Bitbay will not forget! EVER. Karma Steven/patrick!

Give it back!!

[stormia]

cybterpunk, BTCspace, and stackoverflow are clearly shills for this project. It is beyond obvious if you just take a quick glance at their post history and in the case of cybterpunk and stackoverflow you will also notice those accounts were actually created right after the release of qtum for the sole purpose of shilling it. Nobody else on this forum is supporting this project except these shills, a few other even newer sockpuppet accounts that aren't even worth mentioning, and the accounts of the team themselves. Literally everybody else is calling this out for what it is.

I can't believe this is even still set to happen, and with the absurd ICO pricing too.


Let's just pretend for a moment there is nothing to worry about here in terms of the project being a scam:

Even if this didn't reek of scam they want to raise 15 million dollars in the ICO for only 51% of the supply. That's an initial market capitalization of 30 million. Based on what? What justifies the biggest initial market capitalization in the history of crypto ICOs? There isn't even a github yet. It's ridiculous. What sane investor would invest in this? There is little room to grow and tons of room for the price to fall. With an initial market cap of 30 mil how could anybody expect to make a profit by investing in the ICO, even if this isn't a scam?
Factor in the additional fact the team is also going to have 29% of the supply that they will be selling to further fund the project (as if 15 million isn't enough?) and the fact the angel backers invested only ~1 million and got 20% of the supply meaning they paid 1/6th what ICO investors will have to pay and they can dump their coins all the way down to 1/6 the ICO price and still sell for a profit. How the hell are you going to support an initial market cap of 30 mil when you also have that type of sell pressure coming from the 49% premine? Even if the team were clean as a whistle how is anybody dumb enough to think this is a sound investment?

Why wouldn't somebody just wait until after the ICO to buy on the inevitable dump below ICO price? That way you could also wait and see for certain whether or not it is a scam.

[cerejobastos]

wish I had never commented in this thread.
put your money on decred or Iconomi (not only good ones ofc) if you want a valid risk with possible huge rewards, if you want long term profit go for bitcoin.
avoid qtum, just my opinion.
good luck cryptofellows.

[stackoverflow]

... and stackoverflow you will also notice those accounts were actually created right after the release of qtum ...

Looks like you're paranoid now 

stackoverflow: Date Registered: April 14, 2015

[Rikki_Tikki_Tavi]

Press Update:


FinanceMagnates.com discusses the March 16th Qtum Crowd Sale. 


The price has been released at: https://qtum.org/en/crowdsale

http://www.financemagnates.com/cryptocurrency/news/qtum-crowdsale-raise-15m-six-mostly-chinese-exchanges/

 Avi Mizrahi | News (CryptoCurrency) | Thursday, 09/03/2017|10:34 GMT


The Qtum Foundation, developer of the recently revealed Qtum smart contracts blockchain, today announced plans to hold its upcoming QTUM token crowdsale to raise over 13,000 BTC (over $15 million) on six exchanges at once. The 30-day token crowdsale will begin March 16, offering 51 million QTUM for either Bitcoin or Ethereum.

QTUM are the cryptographic software tokens used to engage with distributed applications and smart contracts on the Qtum platform, and will serve as the staking currency of the Qtum blockchain, as well as fuel for computational operations performed by the Qtum network.

“This crowdsale will accelerate the development of the Qtum Project and assure that we will have a stable blockchain platform for industry and consumer smart contracts. Given the commercial interest for making IoT, financial, and supply chain applications on blockchain, we imagine Qtum can be the robust infrastructure these applications are built on,” said Patrick Dai, co-founder of the Qtum Project

The crowdsale will be at these mostly Chinese cryptocurrency exchanges and crowdfunding portals: Bizhongchou, Yunbi, ICOAGE, Allcoin, ICO365, and BTC9.

Qtum recently announced a partnership with PwC China, which will support Qtum’s efforts to help fuel blockchain adoption across global business sectors. Qtum has raised $1 million from investors including Chen Weixing (Kuaidi), Star Xu (OkCoin), Anthony Di Iorio (Ethereum, Jaxx Blockchain Interface), Jeremy Gardner (Augur), Fenbushi Capital’s Managing Partner Bo Shen, and angel investor Xiaolai Li.

Why so many Chinese Exchanges? How about the none Chinese investors? Why can't you add Bittrex, or Liqui.io, CoinExchange, or CCex?
Why make it so hard for the none Chinese  community?

             

[Mr.Pro]

Why so many Chinese Exchanges? How about the none Chinese investors? Why can't you add Bittrex, or Liqui.io, CoinExchange, or CCex?
Why make it so hard for the none Chinese  community?

             

Cos this scam is baked but someone noticed how dirty the way they bake this scam. Sorry for them people don't want to have another big crypto scam.

[stormia]

... and stackoverflow you will also notice those accounts were actually created right after the release of qtum ...

Looks like you're paranoid now  

stackoverflow: Date Registered: April 14, 2015

Oh sorry I made a mistake and confused you with another sockpuppet, thanks for correcting it. It's still clear as day you are a shill and I implore anybody who doubts that to simply look through your posts. I love how you don't even try to refute/challenge any of the other things I said in my post lol you just cut it out of the quote in hopes less people will see it.

Well, too bad because here it is again:

Let's just pretend for a moment there is nothing to worry about here in terms of the project being a scam:

Even if this didn't reek of scam they want to raise 15 million dollars in the ICO for only 51% of the supply. That's an initial market capitalization of 30 million. Based on what? What justifies the biggest initial market capitalization in the history of crypto ICOs? There isn't even a github yet. It's ridiculous. What sane investor would invest in this? There is little room to grow and tons of room for the price to fall. With an initial market cap of 30 mil how could anybody expect to make a profit by investing in the ICO, even if this isn't a scam?
Factor in the additional fact the team is also going to have 29% of the supply that they will be selling to further fund the project (as if 15 million isn't enough?) and the fact the angel backers invested only ~1 million and got 20% of the supply meaning they paid 1/6th what ICO investors will have to pay and they can dump their coins all the way down to 1/6 the ICO price and still sell for a profit. How the hell are you going to support an initial market cap of 30 mil when you also have that type of sell pressure coming from the 49% premine? Even if the team were clean as a whistle how is anybody dumb enough to think this is a sound investment?

Why wouldn't somebody just wait until after the ICO to buy on the inevitable dump below ICO price? That way you could also wait and see for certain whether or not it is a scam.

[dzimbeck]

... and stackoverflow you will also notice those accounts were actually created right after the release of qtum ...

Looks like you're paranoid now  

stackoverflow: Date Registered: April 14, 2015

Oh sorry I made a mistake and confused you with another sockpuppet, thanks for correcting it. It's still clear as day you are a shill and I implore anybody who doubts that to simply look through your posts. I love how you don't even try to refute/challenge any of the other things I said in my post lol you just cut it out of the quote in hopes less people will see it.

Well, too bad because here it is again:

Let's just pretend for a moment there is nothing to worry about here in terms of the project being a scam:

Even if this didn't reek of scam they want to raise 15 million dollars in the ICO for only 51% of the supply. That's an initial market capitalization of 30 million. Based on what? What justifies the biggest initial market capitalization in the history of crypto ICOs? There isn't even a github yet. It's ridiculous. What sane investor would invest in this? There is little room to grow and tons of room for the price to fall. With an initial market cap of 30 mil how could anybody expect to make a profit by investing in the ICO, even if this isn't a scam?
Factor in the additional fact the team is also going to have 29% of the supply that they will be selling to further fund the project (as if 15 million isn't enough?) and the fact the angel backers invested only ~1 million and got 20% of the supply meaning they paid 1/6th what ICO investors will have to pay and they can dump their coins all the way down to 1/6 the ICO price and still sell for a profit. How the hell are you going to support an initial market cap of 30 mil when you also have that type of sell pressure coming from the 49% premine? Even if the team were clean as a whistle how is anybody dumb enough to think this is a sound investment?

Why wouldn't somebody just wait until after the ICO to buy on the inevitable dump below ICO price? That way you could also wait and see for certain whether or not it is a scam.

I was waiting for someone to point this out. Thanks.

I promised BitBay I would stay out of it and gently encouraged them to do the same, but if you don't mind there is one thing I would like to comment. This will most likely be my last comment on this thread. Investors are already aware so they know the risks moving forward.

Even if the price of Qtum goes up, the reality is that Dai walked from our project with a huge fortune that he didn't work for. As stated before we didn't condemn him at first because he agreed to stay. That was not honored and if anyone checks they will notice interviews and news articles after the first year I was condemning Dai (way before I was aware of Qtum). And that is not even mentioning that he pumped the ICO with his own funds and got a refund (free coins). Something I was made aware of a bit too late. There is tons of chat logs plastered all over BCT about that. Some were already posted here. Despite that, I still tried to contact him in a diplomatic manner. Obviously, I got tired of doing that.

So if investors don't mind Dai potentially pumping his own ICO and getting free coins rebated to him & his partners or if you don't mind a 49% premine on top of what they intend to raise go right ahead. Or if you don't mind that Dai has not worked hard in the past beyond an ICO then go ahead.

Or better yet, just invest in projects with honorable teams.

Although it is true I went to the slack and tried to warn the team of the guy they were dealing with. My warnings were ignored by the Qtum team. So although nobody here was calling Qtum a "scam" we were simply pointing out that the founder is sitting on stolen funds and breaks promises.

Considering Qtum moves forward with this anyway is sad indeed and whatever blowback they get is deserved. And to the devs who still have a chance to drop off the project despite the big paycheck. I can see money has blinded you guys (Earlz, Brett, etc). I'm very sorry to hear that and just realize you are placing the value of money over your own reputations. And more critically, you guys are at peace risking the funds of investors in the hands of a known theif. (Regardless of the supposed financial "oversight" it doesn't change who you work for)

When will people learn to start supporting honorable people as opposed to supporting dishonorable ones? Trust should be the FIRST thing an investor considers when advancing.

Okay well... adios.

[altcoinrich]

... and stackoverflow you will also notice those accounts were actually created right after the release of qtum ...

Looks like you're paranoid now  

stackoverflow: Date Registered: April 14, 2015

Oh sorry I made a mistake and confused you with another sockpuppet, thanks for correcting it. It's still clear as day you are a shill and I implore anybody who doubts that to simply look through your posts. I love how you don't even try to refute/challenge any of the other things I said in my post lol you just cut it out of the quote in hopes less people will see it.

Well, too bad because here it is again:

Let's just pretend for a moment there is nothing to worry about here in terms of the project being a scam:

Even if this didn't reek of scam they want to raise 15 million dollars in the ICO for only 51% of the supply. That's an initial market capitalization of 30 million. Based on what? What justifies the biggest initial market capitalization in the history of crypto ICOs? There isn't even a github yet. It's ridiculous. What sane investor would invest in this? There is little room to grow and tons of room for the price to fall. With an initial market cap of 30 mil how could anybody expect to make a profit by investing in the ICO, even if this isn't a scam?
Factor in the additional fact the team is also going to have 29% of the supply that they will be selling to further fund the project (as if 15 million isn't enough?) and the fact the angel backers invested only ~1 million and got 20% of the supply meaning they paid 1/6th what ICO investors will have to pay and they can dump their coins all the way down to 1/6 the ICO price and still sell for a profit. How the hell are you going to support an initial market cap of 30 mil when you also have that type of sell pressure coming from the 49% premine? Even if the team were clean as a whistle how is anybody dumb enough to think this is a sound investment?

Why wouldn't somebody just wait until after the ICO to buy on the inevitable dump below ICO price? That way you could also wait and see for certain whether or not it is a scam.

I was waiting for someone to point this out. Thanks.

I promised BitBay I would stay out of it and gently encouraged them to do the same, but if you don't mind there is one thing I would like to comment. This will most likely be my last comment on this thread. Investors are already aware so they know the risks moving forward.

Even if the price of Qtum goes up, the reality is that Dai walked from our project with a huge fortune that he didn't work for. As stated before we didn't condemn him at first because he agreed to stay. That was not honored and if anyone checks they will notice interviews and news articles after the first year I was condemning Dai (way before I was aware of Qtum). And that is not even mentioning that he pumped the ICO with his own funds and got a refund (free coins). Something I was made aware of a bit too late. There is tons of chat logs plastered all over BCT about that. Some were already posted here. Despite that, I still tried to contact him in a diplomatic manner. Obviously, I got tired of doing that.

So if investors don't mind Dai potentially pumping his own ICO and getting free coins rebated to him & his partners or if you don't mind a 49% premine on top of what they intend to raise go right ahead. Or if you don't mind that Dai has not worked hard in the past beyond an ICO then go ahead.

Or better yet, just invest in projects with honorable teams.

Although it is true I went to the slack and tried to warn the team of the guy they were dealing with. My warnings were ignored by the Qtum team. So although nobody here was calling Qtum a "scam" we were simply pointing out that the founder is sitting on stolen funds and breaks promises.

Considering Qtum moves forward with this anyway is sad indeed and whatever blowback they get is deserved. And to the devs who still have a chance to drop off the project despite the big paycheck. I can see money has blinded you guys (Earlz, Brett, etc). I'm very sorry to hear that and just realize you are placing the value of money over your own reputations. And more critically, you guys are at peace risking the funds of investors in the hands of a known theif. (Regardless of the supposed financial "oversight" it doesn't change who you work for)

When will people learn to start supporting honorable people as opposed to supporting dishonorable ones? Trust should be the FIRST thing an investor considers when advancing.

Okay well... adios.

Did he return the fund to you? If no, I think you should keep asking him to return the money, you know they don't care in this forum. They promoted heavily in China mainland, there will be most Chinese investors like Antshares, you know ANS price is less than half of ICO price, I think Qtum will break ICO price too, if those Chinese noobs still invest in Qtum.

[dzimbeck]

... and stackoverflow you will also notice those accounts were actually created right after the release of qtum ...

Looks like you're paranoid now  

stackoverflow: Date Registered: April 14, 2015

Oh sorry I made a mistake and confused you with another sockpuppet, thanks for correcting it. It's still clear as day you are a shill and I implore anybody who doubts that to simply look through your posts. I love how you don't even try to refute/challenge any of the other things I said in my post lol you just cut it out of the quote in hopes less people will see it.

Well, too bad because here it is again:

Let's just pretend for a moment there is nothing to worry about here in terms of the project being a scam:

Even if this didn't reek of scam they want to raise 15 million dollars in the ICO for only 51% of the supply. That's an initial market capitalization of 30 million. Based on what? What justifies the biggest initial market capitalization in the history of crypto ICOs? There isn't even a github yet. It's ridiculous. What sane investor would invest in this? There is little room to grow and tons of room for the price to fall. With an initial market cap of 30 mil how could anybody expect to make a profit by investing in the ICO, even if this isn't a scam?
Factor in the additional fact the team is also going to have 29% of the supply that they will be selling to further fund the project (as if 15 million isn't enough?) and the fact the angel backers invested only ~1 million and got 20% of the supply meaning they paid 1/6th what ICO investors will have to pay and they can dump their coins all the way down to 1/6 the ICO price and still sell for a profit. How the hell are you going to support an initial market cap of 30 mil when you also have that type of sell pressure coming from the 49% premine? Even if the team were clean as a whistle how is anybody dumb enough to think this is a sound investment?

Why wouldn't somebody just wait until after the ICO to buy on the inevitable dump below ICO price? That way you could also wait and see for certain whether or not it is a scam.

I was waiting for someone to point this out. Thanks.

I promised BitBay I would stay out of it and gently encouraged them to do the same, but if you don't mind there is one thing I would like to comment. This will most likely be my last comment on this thread. Investors are already aware so they know the risks moving forward.

Even if the price of Qtum goes up, the reality is that Dai walked from our project with a huge fortune that he didn't work for. As stated before we didn't condemn him at first because he agreed to stay. That was not honored and if anyone checks they will notice interviews and news articles after the first year I was condemning Dai (way before I was aware of Qtum). And that is not even mentioning that he pumped the ICO with his own funds and got a refund (free coins). Something I was made aware of a bit too late. There is tons of chat logs plastered all over BCT about that. Some were already posted here. Despite that, I still tried to contact him in a diplomatic manner. Obviously, I got tired of doing that.

So if investors don't mind Dai potentially pumping his own ICO and getting free coins rebated to him & his partners or if you don't mind a 49% premine on top of what they intend to raise go right ahead. Or if you don't mind that Dai has not worked hard in the past beyond an ICO then go ahead.

Or better yet, just invest in projects with honorable teams.

Although it is true I went to the slack and tried to warn the team of the guy they were dealing with. My warnings were ignored by the Qtum team. So although nobody here was calling Qtum a "scam" we were simply pointing out that the founder is sitting on stolen funds and breaks promises.

Considering Qtum moves forward with this anyway is sad indeed and whatever blowback they get is deserved. And to the devs who still have a chance to drop off the project despite the big paycheck. I can see money has blinded you guys (Earlz, Brett, etc). I'm very sorry to hear that and just realize you are placing the value of money over your own reputations. And more critically, you guys are at peace risking the funds of investors in the hands of a known theif. (Regardless of the supposed financial "oversight" it doesn't change who you work for)

When will people learn to start supporting honorable people as opposed to supporting dishonorable ones? Trust should be the FIRST thing an investor considers when advancing.

Okay well... adios.

Did he return the fund to you? If no, I think you should keep asking him to return the money, you know they don't care in this forum. They promoted heavily in China mainland, there will be most Chinese investors like Antshares, you know ANS price is less than half of ICO price, I think Qtum will break ICO price too, if those Chinese noobs still invest in Qtum.

The fact that they are not informing the Chinese is wrong. Hopefully someone informed them to be aware of this. They deserve to know what is going on here.

And no of course he did not refund it to me nor did he invest time or money into the project. The dev fund was never his and meant for development. 20 btc from each of the 5 people involved (including myself). So as stated fairly detailed in an earlier post with screenshots and links he got 151-170+ BTC and 10-20% of Bay which he sold and didn't work for. Not a bad payday for simply riding my reputation.

Realize, with BitHalo they already had a prototype to promote so he and the others profited off of two years of my hard work. Obviously I made the mistake of not valuing what I had accomplished up to that point and felt like I was able to license the technology as part of my business model sort of forgetting the value in my own name.

That makes him no better than Bobsurplus, potentially just as bad because he tried to mislead us into thinking he would stay when by his own admission he didn't.

I persisted for 2 years contacting him and got a measly 500 dollars. So I've given up trying to get funds from him. He said he would contribute every month and didn't even do that.

I've learned to value my time now more than ever. So to waste even a moment on him or his friends is a moment not spent on myself, my family or BitBay and Halo.

[stackoverflow]

-

You're portraying yourself as completely innocent, and Dai as the only bad guy in the story. I bet there's more to it than that.

[Qtum]

Press Update:


FinanceMagnates.com discusses the March 16th Qtum Crowd Sale. 


The price has been released at: https://qtum.org/en/crowdsale

http://www.financemagnates.com/cryptocurrency/news/qtum-crowdsale-raise-15m-six-mostly-chinese-exchanges/

 Avi Mizrahi | News (CryptoCurrency) | Thursday, 09/03/2017|10:34 GMT


The Qtum Foundation, developer of the recently revealed Qtum smart contracts blockchain, today announced plans to hold its upcoming QTUM token crowdsale to raise over 13,000 BTC (over $15 million) on six exchanges at once. The 30-day token crowdsale will begin March 16, offering 51 million QTUM for either Bitcoin or Ethereum.

QTUM are the cryptographic software tokens used to engage with distributed applications and smart contracts on the Qtum platform, and will serve as the staking currency of the Qtum blockchain, as well as fuel for computational operations performed by the Qtum network.

“This crowdsale will accelerate the development of the Qtum Project and assure that we will have a stable blockchain platform for industry and consumer smart contracts. Given the commercial interest for making IoT, financial, and supply chain applications on blockchain, we imagine Qtum can be the robust infrastructure these applications are built on,” said Patrick Dai, co-founder of the Qtum Project

The crowdsale will be at these mostly Chinese cryptocurrency exchanges and crowdfunding portals: Bizhongchou, Yunbi, ICOAGE, Allcoin, ICO365, and BTC9.

Qtum recently announced a partnership with PwC China, which will support Qtum’s efforts to help fuel blockchain adoption across global business sectors. Qtum has raised $1 million from investors including Chen Weixing (Kuaidi), Star Xu (OkCoin), Anthony Di Iorio (Ethereum, Jaxx Blockchain Interface), Jeremy Gardner (Augur), Fenbushi Capital’s Managing Partner Bo Shen, and angel investor Xiaolai Li.

Why so many Chinese Exchanges? How about the none Chinese investors? Why can't you add Bittrex, or Liqui.io, CoinExchange, or CCex?
Why make it so hard for the none Chinese  community?

             

Allcoin.com was added to the list, it's a Canadian exchange.

We reached out to Poloniex and they told us they don't host Crowd Sales anymore, so we have to respect their rules.

[prix]

Early investors will have 6x from start. 6x and 20%.

Vitalik Buterin got another approach and decline bitcoin code with UTXO.
And now the Qtum team want to mix EVM from Etherium, code from Bitcoin and POS from Blackcoin?
For 30 millon dollars?

Qtum want to get a piece of Etherium & Bitcoin popularity. What the problems they will solve?

I'm not even talking about all these accusations in the scam and the change of the names of the co-founder.

It's crazy.

Well, too bad because here it is again:

Let's just pretend for a moment there is nothing to worry about here in terms of the project being a scam:

Even if this didn't reek of scam they want to raise 15 million dollars in the ICO for only 51% of the supply. That's an initial market capitalization of 30 million. Based on what? What justifies the biggest initial market capitalization in the history of crypto ICOs? There isn't even a github yet. It's ridiculous. What sane investor would invest in this? There is little room to grow and tons of room for the price to fall. With an initial market cap of 30 mil how could anybody expect to make a profit by investing in the ICO, even if this isn't a scam?
Factor in the additional fact the team is also going to have 29% of the supply that they will be selling to further fund the project (as if 15 million isn't enough?) and the fact the angel backers invested only ~1 million and got 20% of the supply meaning they paid 1/6th what ICO investors will have to pay and they can dump their coins all the way down to 1/6 the ICO price and still sell for a profit. How the hell are you going to support an initial market cap of 30 mil when you also have that type of sell pressure coming from the 49% premine? Even if the team were clean as a whistle how is anybody dumb enough to think this is a sound investment?

Why wouldn't somebody just wait until after the ICO to buy on the inevitable dump below ICO price? That way you could also wait and see for certain whether or not it is a scam.

[dzimbeck]

-

You're portraying yourself as completely innocent, and Dai as the only bad guy in the story. I bet there's more to it than that.

Regardless of my innocence, consider I've been working for 2 years after BitBay started and coding 8+ hour days to fulfill the promises made. Unlike other vaporware the software does exactly what it says it does. So unlike Dai I work for my money. Actions speak louder than words. And on that note, I will take my leave.

[BTCspace]

bitbay is a good Project. Let's buy some.

[BTCspace]

why is "Patrick" Dai still in this project?

as long as he's in, it'll be known as a scam.

It's a damn shame that many Chinese people who frequent the websites where this ico is offered probably don't follow bitcointalk, smithandcrown, or icocountdown.

Probably the only money they will be able to scam will come from China

#Rektum

+1.. but seems Qtum is not a scam.. i think their angel investors are not stupid..

also check this post.. seems people also call vitalik a scammer..

also people call jack ma a scammer earlier.

http://www.newsbtc.com/2016/08/17/gregory-maxwell-vitalik-buterin-ran-quantum-computer-scam/
Gregory Maxwell: “Vitalik Buterin Ran A Quantum Computer Scam”
Being a public figure in the cryptocurrency world comes with prestige and personal attacks. Vitalik Buterin, the visionary of Ethereum development and coding genius, has been active in the world of technology for quite some time now. Before he even created Ethereum, however, he was working on building a computer program to solve NP-complete problems. Or as some people would like to call it, vaporware.

NP-complete problems are decision problems revolving around computational complexity theory. While the entire explanation of this concept can be found on Wikipedia, it is safe to assume this will one of those concepts that is always subject to substantial debate.

Vitalik Buterin And The Quantum Computer Scam
Interestingly enough, Vitalik Buterin used to be involved in this particular field of expertise before he started working on Ethereum. In fact, he was working on a software tool to address these NP-complete problems in polynomial time. Building such a solution from scratch is both time-consuming and costly, though.

According to an archived post from Gregory Maxwell, Buterin was collecting investments from people to fund the creation of this computer program. However, Maxwell strongly feels this was nothing more than an attempt to fund vaporware. In fact, a post on Qntra refers to his idea for this computer program as “a quantum computer simulation scam”.

Gregory Maxwell explained this vaporware scam as follows:

“Vitalik’s project immediately before Ethereum is that he was collecting investments from people to fund building a computer program to solve NP-complete problems in polynomial time, supposedly by simulating a quantum computer. (Never mind that even real QC aren’t conjectured to be able to do that, nor does ‘simulation’ make any sense; unless BPP == BQP that’s not even possible, and virtually all experts agree the complexity classes are probably not equivalent). He built up a reputation for himself writing tech explainers of other people’s ideas usually without any attribution (until someone complains), making him look like the author.”
And Then Ethereum Was Born
That is a rather interesting take on things. Complex ideas and concepts are difficult to explain, let alone making anyone see the need to address them. Yet for some reason, Buterin felt he had the tools at his disposal to convince people to give him money for this project. It remains unclear as to why he failed in doing so, though.

Regardless of the reasoning, it didn’t take Vitalik Buterin long to come up with a new idea. Ethereum, before it was even released to the public, raised several millions of dollars in investments. To some people, the whole concept of Ethereum is still hit-and-miss, as the code can be exploited in multiple ways. The DAO attack and replay attacks are just two of the examples.

That being said, no one is saying Ethereum is vaporware. Interesting concepts can be built on top of this source code that will change our society as a whole. But this whole ordeal goes to show there is a difference between creating concepts and stealing other’s ideas.

Vitalik is a scammer.
But smart contract is good.

[BTCspace]

Just wonder how many BTC and bitbay zimbeck get from bitbay?

[BTCspace]

Any comments on their new version white paper? Shit paper or good paper?