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

[Cerafim]

When will launch IPO, during a conference in Miami?
Mining will begin on the same day?
Client will be available for mining at this time, too?
 

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[ifightformerkel]

I don't know why everyone is bitching about POW vs POS. In either case if you have a $10,000 to invest you'll earn more than someone with $2,500. It takes money to build mining rigs just like it takes money to invest is POS.

Unfortunately the days of mining with one video card for 10,000% return is gone.

This, the future is NXT!

[tacotime]

Please use the nxt thread to discuss issues relating to that currency.

What will the coin acronym be for Ethereum, I just can't imagine people getting excited about saying Ethereum all the time.

There has been ETH and ETR suggested on the other forum, with ETH favoured.  I have been using ETH.

[tacotime]

When will launch IPO, during a conference in Miami?
Mining will begin on the same day?
Client will be available for mining at this time, too?
 

IPO launch will be on the Saturday of the conference, while Vitalik thinks development will take a minimum of 3 months.

[Ursium]

Is Ethereum accepting pull requests?

Yes, well, I've submitted one to the go client repo at least, a glorious typo fix

[denario]

At least it not seem a "java closed code scam" like emunie and nxt.

Java suck and javaclosedcode suck²
 

Good luck.

[msin]

When will launch IPO, during a conference in Miami?
Mining will begin on the same day?
Client will be available for mining at this time, too?
 

IPO launch will be on the Saturday of the conference, while Vitalik thinks development will take a minimum of 3 months.

So the IPO will last 3 months?  or 3 months until a working client is available?

[Ursium]

When will launch IPO, during a conference in Miami?
Mining will begin on the same day?
Client will be available for mining at this time, too?
 

IPO launch will be on the Saturday of the conference, while Vitalik thinks development will take a minimum of 3 months.

So the IPO will last 3 months?  or 3 months until a working client is available?

Fundraiser is rumored to last 60 days.

Development (and therefore main net mining) could last 'months'.

[Come-from-Beyond]

At least it not seem a "java closed code scam" like emunie and nxt.

U confused non-obfuscated Nxt binaries with obfuscated eMunie ones. Any Java dev can prove that Java byte-code is easily decompiled into a good-readable source code.

[Come-from-Beyond]

Is there anywhere on the Internet a reply of Ethereum devs on http://bitslog.wordpress.com/2014/01/17/ethereum-dagger-pow-is-flawed/ ?

Edit: I have just noticed the date of the blog post, never mind.

[ecliptic]

Of course everyone is being vague in this thread, that's to be expected with these things.  But i've gathered that the algo is going to be a """CPU"" only one, and it's going to be heavily premined / IPO'd aka buy in now or never make anything style

Why always botnet (""CPU"" aka cloud services) mining?

Why always Premining and Proof of Stake?


Bitcoin started out very decentralized and then because of SHA256 became extremely centralized

Scrypt GPU era started out very decentralized and stayed like that, but now with ASICs on the horizon is about to go the way of bitcoin (albeit not as dramatic) if they stay on the same algo

CPU coins are never actually decentralized, they're always taken over by botnets and cloud mining.  CPU mining with computers is almost never ever reasonable

Proof of stake, just results in a tiny group at the start having everything.

All you need is a mining algorithm that changes slightly either automatically or by some other method -- no problem for GPU/CPU miners, but makes ASIC'ing impossible

[tacotime]

Of course everyone is being vague in this thread, that's to be expected with these things.  But i've gathered that the algo is going to be a """CPU"" only one, and it's going to be heavily premined / IPO'd aka buy in now or never make anything style

Why always botnet (""CPU"" aka cloud services) mining?

Why always Premining and Proof of Stake?

Ethereum is PoW only (so far)
Bitcoin was mined in huge quantities by Satoshi early on

Bitcoin started out very decentralized and then because of SHA256 became extremely centralized

Scrypt GPU era started out very decentralized and stayed like that, but now with ASICs on the horizon is about to go the way of bitcoin

Litecoin was mined in huge quantities by me and others when it was first released (unfortunately I sold most of mine while they were a few cents each because I was paying for my undergraduate education).  I was running a series of AMD 6-core servers on the network right after introduction.  When GPU miners came out I had several MH/s on it as well.

CPU coins are never actually decentralized, they're always taken over by botnets and cloud mining.  CPU mining with computers is almost never ever reasonable

Anything besides mining, especially proof of stake, just results in a tiny group at the start having everything

I think pretty much everything results in a tiny group at the start having everything, and the matter of distribution is whether or not that tiny group decides to sell to others or not

[ecliptic]

Modern Scrypt mining by far has the most decentralized/fair distribution of coins, lowest barrier to entry, and most resistant to ASIC-esque centralization currenly.  (Modified scrypt algos look very promising in this regard to keep it essentially GPU only)

Since it's resistant to botnets and it doesn't have miner manufacturers with a vested interest in fucking over their customers and mining themselves (i.e. ASICs).  It also has the longest history in cyrptocurrency and is well known by anyone even remotely familar, be they bitcoin GPU miners from the past, or scrypt miners currently on anything from the well established coins like litecoin to multipools/middlecoin that exchange to btc, to newer 'scam'coins.

Basically the only way it can be exploited is insta-mining where a coin launches with a far too low diff, and even this can be combated by anticipating it and setting the starting diff higher, or low block rewards early.  and even this 'insta-mining' is only really centralized/unfair for a few days, within a few weeks the overall mining reward has diluted the first instamining

I'm not sure how a fixed algo, no matter what, will be resistant to ASICs.  It sounds like needing a bunch of RAM is just going to make it just like the other CPU coins, botnets and cloud mining.

I guess cloud mining could be sort of democratic, but you don't actually own the hardware, and it's very foreign compared to traditional mining.  Also you're essentially centralizing all the hashing at amazon / digital ocean/ etc.

[tacotime]

Basically the only way it can be exploited is insta-mining where a coin launches with a far too low diff, and even this can be combated by anticipating it and setting the starting diff higher, or low block rewards early.  and even this 'insta-mining' is only really centralized/unfair for a few days, within a few weeks the overall mining reward has diluted the first instamining

Another way to fix this is to just run a centralized node for the first few hundred blocks that calibrates the difficulty of the network based on the orphan rate it encounters and pushes it to clients via an ECDSA signed packet; I haven't seen this implemented yet, but it really should be.

As GHOST is okay with orphans (it includes their work in the tree generated), this should not really be an issue with ethereum

[pastet89]

Alright guys since you're speculating about Ethereum, I figured I'd drop by and say hi. I'm one of the core developers. Go ahead and post your questions here

Can we mine with litecoin rigs (GPU) ? Which is optimal?

[Ursium]

Alright guys since you're speculating about Ethereum, I figured I'd drop by and say hi. I'm one of the core developers. Go ahead and post your questions here

Can we mine with litecoin rigs (GPU) ? Which is optimal?

It will be favorable to CPUs, GPUs might come in later if people develop for it but will only be a small percentage faster as Dagger is intended to be sequential memory hard. They also just announced they might organize a contest to determine the best ASIC-proof mining algorithm should Dagger not perform as intended. They could even go hybrid with PoS through Slasher.

[LeoC]

CPU bound? Then the big issue won't be ASCI's. It will be botnets. Read the Qubit coin thread if you want to see how botnets affect CPU bound algorithms.

[e521]

CPU bound? Then the big issue won't be ASCI's. It will be botnets. Read the Qubit coin thread if you want to see how botnets affect CPU bound algorithms.

Agree, PoW should evolve to CPU+GPU to exclude CPU botnets and ASICs (temporarily)
Following this

[td services]

CPU bound? Then the big issue won't be ASCI's. It will be botnets. Read the Qubit coin thread if you want to see how botnets affect CPU bound algorithms.

Agree, PoW should evolve to CPU+GPU to exclude CPU botnets and ASICs (temporarily)
Following this

+100 , exclude cloud mining as well, maybe a way to insure geographic separation of miners.

[Xamda]

And just why should cloud mining be excluded and is that even possible as long as you make the coin possible to mine with CPU?