Ethereum: 2nd gen cryptocurrency with contract programming, "dagger" hashing

[instacalm]

another premined scam coin where the devs hold the large supply of coins

Thank u for ur competent opinion.

[LeoC]

what a joke and you guys complain about the fed but imagine if the fed held all dollars and made you buy dollars from them...

I am not sure how it must have slipped during your high level academic research in Finance... but you do realize that the Fed actually lends (NOT sells) your government ITS dollars, right?  

Maybe you failed at life because he clearly said "IMAGINE IF", he was making an analogy using a fictitious backdrop. It was a pretty bad analogy though.

It's more like running a Kickstarter for a $100 product, but the reward for giving them $100 in funding is a 20% off coupon to buy the product at full price. Oh and the product will give you AIDS. Ok it's nothing like that.

[LeoC]

*facepalm* Do you not know how to detect the difference between fact and fiction?
Stop trying to sound knowledgeable, you are failing miserably.

[LeoC]

Yes.

[LeoC]

Proud to be on it 

[Come-from-Beyond]

He doesn't see ur reply and the others don't care...

[LeoC]

Ditto to you and 90% of your posts  
How's Qubic doing?

[Come-from-Beyond]

Ditto to you and 90% of your posts  
How's Qubic doing?

Fine, thx.

[swartzfeger]

Ursium, any chance of a dedicated client? Everything went fine up to the gmp install, but I don't think my ethereum install went as planned.

[SyRenity]

How is the pre-sale of a POW mined currency price at more than double current Nxt market price a fair distribution model?  I wasn't a stakeholder in Nxt, but I bought right after launch when people were selling 1Mil Nxt for 1BTC.  I thought to myself, "I could theoretically buy 1% of this currency, that will ever exist, for 10 BTC" to me that was a great risk but also a great deal.

While you correct about having 1% of the total funds out there, note the Transparent Forging:
http://www.thenxtwiki.org/wiki/Transparent_Forging

Which in nutshell means that the genesis investors holding the majority of NXT, will also get the majority of transaction fees coins. In long run most of the transactions will pass through the genesis investors, making them a Visa / PayPal (?) of sorts, and continuing growing their holdings without any additional investment from their side.

Compare this to BTC, where ASIC's arms race forces the miners to continuously invest more of their gains back into ASIC mining, thus distributing the network and making it more secure.

By the way, note that such feature (inherently unfair to anyone joining after genesis) was again - added at will of the genesis investors. If a similar feature was put to voting say in MSC protocol, I'm not sure at all it would pass, due to the distribution:
http://mastercoin-explorer.com/addresses

To me, Ethereal is a slave of ASIC Miners, with a ridiculously high IPO price and no interest earned like eMu, so who is being fair?

While you may have a point about IPO price or getting back to ASIC dependency, as long as Vitalik and the team do not create artificial shortage by breaking on their own announcement (which exactly what NXT did), a much larger amount of people have a fair chance to join the IPO early, and spread the gains proportionally. And if the IPO is not attractive - well there are other 2nd gen options which are being launched these days or will be launched soon enough.

[Come-from-Beyond]

Which in nutshell means that the genesis investors holding the majority of NXT, will also get the majority of transaction fees coins. In long run most of the transactions will pass through the genesis investors, making them a Visa / PayPal (?) of sorts, and continuing growing their holdings without any additional investment from their side.

Ur logic fails the same way as http://en.wikipedia.org/wiki/Zeno's_paradoxes#Achilles_and_the_tortoise

[jubalix]

sooooo does that slasher algo idea mean you are going to pos now?

[SyRenity]

Which in nutshell means that the genesis investors holding the majority of NXT, will also get the majority of transaction fees coins. In long run most of the transactions will pass through the genesis investors, making them a Visa / PayPal (?) of sorts, and continuing growing their holdings without any additional investment from their side.

Ur logic fails the same way as http://en.wikipedia.org/wiki/Zeno's_paradoxes#Achilles_and_the_tortoise

Thanks for the link, always glad to learn something new here.

From what I see, it applies to finite finish values, while NXT (I hope) is planned to be an ever existing currency.
So how exactly it applies to NXT forging?

[Come-from-Beyond]

Which in nutshell means that the genesis investors holding the majority of NXT, will also get the majority of transaction fees coins. In long run most of the transactions will pass through the genesis investors, making them a Visa / PayPal (?) of sorts, and continuing growing their holdings without any additional investment from their side.

Ur logic fails the same way as http://en.wikipedia.org/wiki/Zeno's_paradoxes#Achilles_and_the_tortoise

Thanks for the link, always glad to learn something new here.
Care to explain in layman terms though, how it applies to NXT forging?

Create a thread a post here the link. This thread is about Ethereum.

[BitcoinForumator]

1.2 Trillion (doesn't matter if not from the get-go) for a higher price that NXT. You gotta be kidding us.

[lonsharim]

1.2 Trillion (doesn't matter if not from the get-go) for a higher price that NXT. You gotta be kidding us.

If I understand correctly, that's a theoretical hard cap, its highly unlikely that there will be 1.2 Trillion ETH in circulation and will depend largely on the fundraiser. What's the possibility of them raising such a large number of BTC that doubles up in the first year and over a period of years of mining reaches a trillion?

Mathematically how much 'X' would you need to raise to reach 1.2 trillion ETH in the foreseeable future after combining fund raiser, founder share, org share, mining over a period of Y years? We should be able to determine both X BTC and Y Years.

 

[Ursium]

Ursium, any chance of a dedicated client? Everything went fine up to the gmp install, but I don't think my ethereum install went as planned.

Hello swartzfeger, what do you mean by 'dedicated' client?

[superresistant]

This turned to a debate of how to make a coin launch fair ? What is fairness is the first place ? Can money be fair at all ?

After some quick research, it appear that fairness is related to social justice.

Is it the role of cryptocurrency to solve inequity ? Can a cryptocurrency bring social justice ?

Aren't you guys trying to solve the impossible ?

[BitcoinForumator]

This turned to a debate of how to make a coin launch fair ? What is fairness is the first place ? Can money be fair at all ?

After some quick research, it appear that fairness is related to social justice.

Is it the role of cryptocurrency to solve inequity ? Can a cryptocurrency bring social justice ?

Aren't you guys trying to solve the impossible ?

As an investor, you're looking to gain something from your investment, not for it to depreciate.

As the things stand currently - looks like there's a lot of risk that you won't gain.

[sumantso]

Funny, I can't seem to get anyone to admit that investment was ended ended early in NXT or cancelled in eMunie to prevent further dilution of existing investors, though it is obvious that this is the case.

Aye, that's funny. I suspect people have another opinion and just think that u r trolling them.

It's been my experience that when people try to ignore or dodge around an issue, and accuse the person questioning them of trolling, that it's because it's the truth.

Sorry to other people reading this discussion as it's tangential to Etherium, but the opportunity arose to confront the person responsible.

It does highlight the importance of sticking with a plan in a funding round once it is announced. NXT has made an enemy where it didn't need to have one, and I will continue to discourage people from investing in it as I feel the situation shows a lack of integrity of the people managing the project. All they had to do was say, "we are closing investment, so if you want to invest you need to do so within 4 hours" (or some reasonable time frame). All they have to do at this point is admit to the real reason they closed investment early.

That does sound very scammy from NXT. I haven't followed the 'NXT' stuff though.