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

[404notfound]

Ethereum wouldn't work as well as pure pos because it needs miners to process contracts. Unlike most other coins the main focus of ethereum seems to be on running contract based scrypts. In my opinion this will develop into a system of apps directly integrated with a decentralized economy.

[Come-from-Beyond]

I would like to know how Ethereum blocks will be orphaned. All processed contracts from an orphaned block will be rolled back step by step from Z to A? Looks too difficult if possible at all...

[spiffcow]

I'm thinking about investing into Wookiedoo, but I have to wonder, would putting my money into mining hardware be more effective? Or would the best strategy be to split the investment between IPO and hardware? Also, to confirm, this revaluation of the IPO means than 10x less ether ( than under the old IPO value) will ever be created?

Definitely invest in mining hardware.  If the whole thing tanks tomorrow you'll still be able to sell the hardware. If you join the IPO, you could lose it all.

[seek4dream]

when and how can i purchase Ethereum?

[lonsharim]

Has the clock been pushed forward another week on http://ethereum.org/? I thought the clock was counting down to 24th.

[romerun]

/cpp-ethereum/libethereum/Common.cpp:28:18: fatal error: sha3.h: No such file or directory
 #include <sha3.h>
                  ^
compilation terminated.
make[2]: *** [libethereum/CMakeFiles/ethereum.dir/Common.cpp.o] Error 1
make[1]: *** [libethereum/CMakeFiles/ethereum.dir/all] Error 2
make: *** [all] Error 2

trying to build on ubuntu saucy. what is this sha3 thing

[pastet89]

Please, help me.
Where can I get from a client for linux? 

[msin]

Has the clock been pushed forward another week on http://ethereum.org/? I thought the clock was counting down to 24th.

Yes it has, I guess he needs for time to figure out orphaned block.

[PGPpfKkx]

site is so bad and broken in chrome 26.. 

[twistelaar]

When can I get this coin? And for what price? thanks a lot!

[superresistant]

What is the point of investing in a currency with inflation ?

The value of Bitcoin is going up. The value of a currency with inflation go down. The difference between the two is huge growing gap.

So why ? I'm open minded, I just want to understand.

[rdnkjdi]

What is the point of investing in a currency with inflation ?

The value of Bitcoin is going up. The value of a currency with inflation go down. The difference between the two is huge growing gap.

So why ? I'm open minded, I just want to understand.

I'm not going to pretend to understand everything, or half of what I've read about Ethereum.  But where much of bitcoins assumed value comes from difficulty obtaining bitcoins, low supply and high demand.  It's more like collecting baseball cards in some ways than currency.

This looks to me more like the way it is structured to reflect a real economy.  The value is based more on widespread adoption and the complexity of the transactions available.  I hope the inflation is able to stabilize the value of the currency. 

[PGPpfKkx]

cryptocurrencies were designed so that inflation is NOT present as it is the root of all evil.

its not much different if the central bank prints money or ghash.io mines ethereum. its just a decision that devaluates your money.

[flug]

cryptocurrencies were designed so that inflation is NOT present as it is the root of all evil.

its not much different if the central bank prints money or ghash.io mines ethereum. its just a decision that devaluates your money.

At some point in the future, the rate of coins being mined will equal the rate of coins being lost.

That's more like currency maintenance than inflation.

[Angkor]

cryptocurrencies were designed so that inflation is NOT present as it is the root of all evil.

its not much different if the central bank prints money or ghash.io mines ethereum. its just a decision that devaluates your money.

Agree

[Rassah]

To me, POW is such a waste of resources, we are spending millions on resources to mine BTC, it doesn't seem like the direction we should continue heading as the world struggles with limited resources.  The amount of power wasted mining BTC is absolutely atrocious. 

Limited resources = electricity gets more expensive = mining isn't as profitable = fewer miners waste electricity mining. As the mining rewards decrease, resources spent on mining will decrease too. Do you know how much power we are wasting supporting the current financial system? All the energy used to run the bank wire and credit card networks and servers, all the power needed to cool and heat banking buildings that to the same accounting and security that's done automatically by miners, all the money spend on security, bank vaults, guards, armored vehicles, etc. How much of that power are we wasting, compared to bitcoin?

Regarding your concerns with POS, read up on Transparent Forging.

Hmm, that is a good idea. So, if I have a majority of the coins in a PoW system, I would need the majority of other users agreeing not to use me to forge the next block in order for my fork change not to go through? What if I own the majority of coins, but they are split up in thousands of smaller amounts, each of which asks one of my own addresses to forge the neck block? How will my thousand "sock puppet" wallets compete against normal users?

POW is completely susceptible to corporate control, look at the mining pools, you are close to 51% with Ghash.io alone. 

Mining pools aren't mining hardware. They aren't the ones securing transactions. All they provide is a place for miners to coongregate, but miners are free to switch from pool to pool as they wish. This prevents pools from doing bad things, because doing so would cause miners to abandon them, and make the pool lose all its income. Look at the mining pools. They are close, but never go above 51%, because miners keep moving to keep the % below 50.

[Rassah]

To ignore coin and profit is to deny reality. Communism is a failed experiment. We laud your generosity to invest on possibilities and your wherewithal to invest 20 Btc on visionary projects. Thank you. However, your noble actions are somewhat diluted by your criticism of others.

Sorry, I'm not a communist, and that is not my intent with my post. My point is that it's like people are arguing about how many shares of stock Google has issued, and at what starting price, wodering how much their shares will be diluted, while ignoring the actual business plans and people behind Google who will actually make those stock shares be worth something. People focus too much on the supply/demand side of economics, not the network effects enabled by the capabilities of the coin software. Much like people who don't understand bitcoin complain about it's supply/demand, and complete lack of backing compared to FIAT and gold, while completelly ignoring the fact that bitcoin can replace most of our world's financial and legal asset systems.

[Klonewars]

Clever enough to create a new financial system but stupid enough to use photos from FB on the site?


I'm not sure I can invest money in people that look like D&D players.

[Conurtrol]

Clever enough to create a new financial system but stupid enough to use photos from FB on the site?


I'm not sure I can invest money in people that look like D&D players.

Those are exactly the people you want to invest money with.

[BTCtrader71]

I'm new to the concept of Ethereum (just learned about it from this morning's article on coindesk) but it appears to be worth investigating.

A few (related) questions I will be trying to answer:

1. Is Ethereum necessarily a competitor to bitcoin, or is it complementary?

2. Can Ethereum work in conjunction with bitcoin? eg can you write a contract in Ethereum that is denominated in bitcoin?

3. Could bitcoin be modified, in the words of Jeff Garzik, "to incorporate any highly desirable features into a future bitcoin revision" ? adopt the basic concept of Ethereum? From what I've learned so far, Ethereum seems sufficiently different from bitcoin that this would not be straightforward.