mihserf
Newbie
 Offline
Activity: 2
Merit: 0
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January 20, 2014, 09:08:37 AM |
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I am not gettting this... As far as I understand that the total shares pre-launch (100M investors, 25M founders, 25M devs and 50M ethers) will be premined and spread before launch and all of them make a total of 200M. So how after 1 year the total supply will be still 200M? That sounds like no ethers will be ever mined during the first year?  In this example during the first year 50M ethers maximum will be mined. |
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Forobitcoins
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January 20, 2014, 09:53:05 AM |
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Where do I see the details of the IPO?
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Sorry for my broken English XD
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Ursium
Full Member
Offline
Activity: 149
Merit: 100
Ethereum
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January 20, 2014, 10:59:19 AM |
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I think 10,000 BTC is a lot and won't be invested. So why there is need in 1.2T Ethers? Don't understand..
The idea is that the money supply increase (albeit very slow - look at the date on that 1.2T ether) allows latecomers to 'own' parts of the supply through mining and reduces capital centralization (simulating dilution). |
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hyunsookmom
Sr. Member
Offline
Activity: 420
Merit: 250
Kamehameha!!!
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January 20, 2014, 10:59:39 AM |
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Is the initial price really 0.0001?
If so then if compare it with the current price of NXT 0.00006 it's straight away more expensive than NXT which has risen a lot since it's start. struggling to see the benefit of buying into the IPO, unless someone can tell me my maths are wrong.
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molecular
Donator
Legendary
Offline
Activity: 2772
Merit: 1019
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January 20, 2014, 11:05:10 AM |
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It's rather interesting to see that >80% of the posts here discuss IPO and mining and very few posts discuss the interesting aspects like the scripting language or transaction logic, privacy, etc... Greed! Guys, this coin is not especially useful for getting rich quick and I predict you will have all the time in the world to buy/mine it if you want in the years after launch because of the linear inflation. There will be no halving of the reward, inflation in relative terms only goes down due to the increasing supply. This means miners in year 1 will get the same amount of coin as miners in year 20. This coin is innovative technically and founders have chosen not to make early adopters extremely rich in the long run. Since this (early adopter unfairness) is often cited as a drawback of Bitcoin (envy) by newcomers and some economists, I think this could turn out to be a good decision... Interest in the coin seems to be high enough to get it going without exorbitant promise to early investors. Well, let there be competition  |
PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0 3F39 FC49 2362 F9B7 0769
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jelin1984
Legendary
Offline
Activity: 2408
Merit: 1004
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January 20, 2014, 11:05:27 AM |
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i am in for project
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romerun
Legendary
Offline
Activity: 1078
Merit: 1001
Bitcoin is new, makes sense to hodl.
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January 20, 2014, 11:12:42 AM |
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It's rather interesting to see that >80% of the posts here discuss IPO and mining and very few posts discuss the interesting aspects like the scripting language or transaction logic, privacy, etc... Greed! Guys, this coin is not especially useful for getting rich quick and I predict you will have all the time in the world to buy/mine it if you want in the years after launch because of the linear inflation. There will be no halving of the reward, inflation in relative terms only goes down due to the increasing supply. This means miners in year 1 will get the same amount of coin as miners in year 20. This coin is innovative technically and founders have chosen not to make early adopters extremely rich in the long run. Since this (early adopter unfairness) is often cited as a drawback of Bitcoin (envy) by newcomers and some economists, I think this could turn out to be a good decision... Interest in the coin seems to be high enough to get it going without exorbitant promise to early investors. Well, let there be competition so being an investor is not so good for this coin but being a founder is. I'll invest anyway regardless of how rigged, also interested to invest as a founder if possible. |
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Come-from-Beyond
Legendary
Offline
Activity: 2142
Merit: 1009
Newbie
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January 20, 2014, 11:15:41 AM |
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It's rather interesting to see that >80% of the posts here discuss IPO and mining and very few posts discuss the interesting aspects like the scripting language or transaction logic, privacy, etc...
Agree. Let's discuss fee, for example: Ethereum will have seven primary fees, of which one applies to transaction senders and six apply to contracts. The fees are:
TXFEE (100x) - fee for sending a transaction
NEWCONTRACTFEE (100x) - fee for creating a new contract, not including the memory fee for each item in script code
STEPFEE (1x) - fee for every computational step after than first sixteen in contract execution
STORAGEFEE (5x) - per-byte fee for adding to contract storage. The storage fee is the only fee that is not paid to a miner, and is refunded when storage used by a contract is reduced or removed.
DATAFEE (20x) - fee for accessing or setting a contract's memory from inside that contract
EXTROFEE (40x) - fee for accessing memory from another contract inside a contract
CRYPTOFEE (20x) - fee for using any of the cryptographic operations Why these magic numbers? I prefer numbers that r power of 2. Why not numbers set by the market? U can't win in a battle against market, if ur guess on numbers is incorrect the market will just adopt Cryptoneum or any other copycat. |
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klee
Legendary
Offline
Activity: 1498
Merit: 1000
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January 20, 2014, 11:37:30 AM |
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So another NXT copycat lol
Half joking...
EDIT: Especially regarding Vitalik's weird stance against NXT - no comment on it's PoS algo neither to his magazine, nor here nor in the protocol (as a reference for possible solution). He acts as if it does not exist, go figure...
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Come-from-Beyond
Legendary
Offline
Activity: 2142
Merit: 1009
Newbie
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January 20, 2014, 11:39:42 AM |
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So another NXT copycat lol
Half joking...
Well, actually it will be Peercoin copycat... |
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klee
Legendary
Offline
Activity: 1498
Merit: 1000
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January 20, 2014, 11:41:42 AM |
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So another NXT copycat lol
Half joking...
Well, actually it will be Peercoin copycat... NXT is better, he should ask BCNext's advice and not SunnyKing's... |
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superresistant
Legendary
Offline
Activity: 2128
Merit: 1120
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January 20, 2014, 12:05:41 PM |
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The devs are asking advices from SunnyKing to create a coin similar to PeerCoin ?
It doesn't sound like a good news.
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Come-from-Beyond
Legendary
Offline
Activity: 2142
Merit: 1009
Newbie
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January 20, 2014, 12:09:04 PM |
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The devs are asking advices from SunnyKing to create a coin similar to PeerCoin ?
It doesn't sound like a good news.
It does. This shows that they r open-minded persons, not fanatics. |
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pastet89
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January 20, 2014, 01:11:59 PM |
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So diffculty will never increase and mining at the same begining will be at same profitability as mining after 20 years? Also what does CPU mining means? A strong usual PC will be enough for mining? |
Cryptostats.es
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PurpleTentacle
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January 20, 2014, 01:20:01 PM |
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So diffculty will never increase and mining at the same begining will be at same profitability as mining after 20 years? Also what does CPU mining means? A strong usual PC will be enough for mining? As I understand it, the same amount of ETH will be mined every year forever. For this to happen difficulty has to adjust according to the network hashrate. Profitability is dependent on ETH price. |
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pastet89
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January 20, 2014, 01:25:31 PM |
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So diffculty will never increase and mining at the same begining will be at same profitability as mining after 20 years? Also what does CPU mining means? A strong usual PC will be enough for mining? As I understand it, the same amount of ETH will be mined every year forever. For this to happen difficulty has to adjust according to the network hashrate. Profitability is dependent on ETH price. OK, so 50M will be mined each year forever? But as network hashrate grows (more miners mine), difficulty will increase? So still early miners which start when the network is smaller will have advantage, right? |
Cryptostats.es
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PurpleTentacle
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January 20, 2014, 01:38:54 PM |
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So diffculty will never increase and mining at the same begining will be at same profitability as mining after 20 years? Also what does CPU mining means? A strong usual PC will be enough for mining? As I understand it, the same amount of ETH will be mined every year forever. For this to happen difficulty has to adjust according to the network hashrate. Profitability is dependent on ETH price. OK, so 50M will be mined each year forever? But as network hashrate grows (more miners mine), difficulty will increase? So still early miners which start when the network is smaller will have advantage, right? If Ethereum is successful and more people mine it, then that should be right. The 50M figure is not fixed; it depends on the amount of BTC raised in the IPO. So if 1,000 BTC get raised, then that equals 10,000,000 ETH and miners will get 50% of that in the first year. |
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hyunsookmom
Sr. Member
Offline
Activity: 420
Merit: 250
Kamehameha!!!
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January 20, 2014, 02:48:46 PM |
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Mentioning no names but the people that tend to criticize others for greed have already made ALOT of money on other coins like NXT (at the cost of other later buyers ultimately) If you don't like greed I've posted my NXT address to prove how much you don't like it.....otherwise give others a chance that they had and took.
NXT: 14058662050366623641
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