[ANN] Ethereum: Welcome to the Beginning

[GTO911]

Why are people sending BTC to an IPO with NO investment cap? Are Ethereum devs that much greedy that they invite as much as you can send? As much as you CAN SEND??

People should buy Crypti at launch instead. Anything under 5000 satoshi per Crypti will be a better deal than greed ridden ethers

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[ney]

"ENSURED THAT THE JSON WALLET FILE (ethereum-wallet-.json) IS ON YOUR COMPUTER BEFORE YOU SEND ANY BTC."
how to get ethereum-wallet-.json and install it?

"If you purchase ether, DO NOT lose your wallet file or your password or you will never be able to access your ether. Additionally, make sure you download your wallet in the first place."
which is the wallet file: BTC or ETH?

[Kellyjazz]

I will stick to bitcoin

[trunzo]

I have two questions.

1. What is the total amount of ETH that will be created ever ?
2. 100% or how much of the total amount will be distributed during the IPO?
2. What exchanges can trade ETH ?

The second question is related to Safemaidcoin. It could only trade in masterxchange and coin could only store in omniwallet. Both of these never fully worked for me for 6 days. I don't want to own a coin that can only be traded in one proprietary exchange.

P.S. I don't really believe the total ether purchased number on the web. Just trying to create a herd mentality.

this question would also interest me!!

[Eadeqa]

1. What is the total amount of ETH that will be created ever ?

This number is not fixed. It depends  on how many are bought in the presale 42 days.

[dooglus]

I sent 0.0001 BTC too little to my pre-order address.

I see:

Transaction Information

bitcoin transaction ID:

3/6
Your bitcoin payment must receive six confirmations
in order to be considered valid

as my transaction confirms.

There's no txid shown.

Does the missing 0.0001 BTC matter? How can I fix it?

[ontopicplease]

Maybe someone can help me out with my problem. Since almost a year I have been investing in crypto's because I think crypto's will be the future money or a future payment method. Yesterday I read about the ethereum genesis sale. I was ready to invest minimum 5 btc and now I read that people without technological knowhow shouldn't invest in this sale. Okay, I have no technological knowledge but I have faith in the ethereum-team and I like to invest. Can anyone give me some good advice?

[StephenJH]

I will stick to bitcoin

lmao, why are you in the alts ann forum ? doof

I got a few ethereum, heck people invest in smoke and mirror coin around here... ethereum is a no brainer.

[LiteCoinGuy]

1. What is the total amount of ETH that will be created ever ?

This number is not fixed. It depends  on how many are bought in the presale 42 days.

like with Fiat and the Fed 

[Eadeqa]

1. What is the total amount of ETH that will be created ever ?

This number is not fixed. It depends  on how many are bought in the presale 42 days.

like with Fiat and the Fed  

No, nothing like that. The percentages are fixed .. the exact number isn't as that depends on how many are bought by initial purchaser in the pre sale period

[snipsnoop]

Is it me or does this line ring alarm bells?

"The Ether will not exist until the developers mine the Genesis block, which they anticipate happening in the winter of 2014-2015"
From http://www.cryptocoinsnews.com/news/ether-fuel-ethereum-project-can-now-pre-ordered/2014/07/23

I think Ethereum is super interesting , but on a personal level there is no way I am locking in my BTC for that long.

[giveBTCpls]

I dont know I think this could end up abandoned by the mainstream because it seems way to huge and complex, wereas Bitcoin is just extremely simple and does what needs to be done.

[minerjoen]

For the non-techie among us, would I be able to install alpha release of the testnet client on my Win 8? Some guidance would be helpful.  What does all this mean? "two official clients released at the same time, with one written in C++ and the other in Go; a Python client is also in the works. A compiler from the Ethereum CLL to Ethereum script will be released very soon."

see if this helps..
http://dr-pra.tumblr.com/post/73526554416/build-and-run-the-ethereum-go-client-on-windows

Are you not worried about: "Also be aware that this is still unreleased software and can cause severe damage on your machine. Use at your own risk!"?  Should I be? 

I have  64-bit OS.  Am I out of luck?  "Download the Go Windows 32-Bit Distribution and run the installer. As of now this guide does not cover 64-Bit installations as it causes some problems compiling the secp256k1 library."

ofc not, the programm runs on 32 bit.
when u have a 64bit os u can run 64bit AND 32bit

[multibit]

1. What is the total amount of ETH that will be created ever ?

This number is not fixed. It depends  on how many are bought in the presale 42 days.

like with Fiat and the Fed  

No, nothing like that. The percentages are fixed .. the exact number isn't as that depends on how many are bought by initial purchaser in the pre sale period

Don't need this kind of uncertainty as in investor. Safer to buy other shxt coins.

[multibit]

1. What is the total amount of ETH that will be created ever ?

This number is not fixed. It depends  on how many are bought in the presale 42 days.

like with Fiat and the Fed  

No, nothing like that. The percentages are fixed .. the exact number isn't as that depends on how many are bought by initial purchaser in the pre sale period

Don't need this kind of uncertainty as in investor. Safer to buy other shxt coins.

Based on these figures :
current purchased amount of 7m
10% is for sale then 70m Total.
current price 2000 ETH per BTC = 0.0005BTC per ETH
then this is 1/30 price of Litecoin or 15% price of darkcoin


But if the sales continue for another 2 months then total purchased could be 20m ?

well it might just be a bit over priced

[trunzo]

1. What is the total amount of ETH that will be created ever ?

This number is not fixed. It depends  on how many are bought in the presale 42 days.

like with Fiat and the Fed  

No, nothing like that. The percentages are fixed .. the exact number isn't as that depends on how many are bought by initial purchaser in the pre sale period

100% of total amount are distributed during the IPO?

[coinzcoinzcoinz]

Why does a platform that can have services built on it need a currency? Can someone explain this to me?

[Ursium]

Can I buy ether multiple times from the same email address?

Or do I need to make one bulk purchase?

Thanks,

Apologies for the delay in replying. Only one of me, many questions. Looking forward to the AMA tonight

You can purchase ether multiple times, with the same email. Just use a different password to be safe. Don't lose your wallet or password! Keep them very safe. Cheers!

[Ursium]

I understand Ether is not a coin, it's a basically a token to use on the Ethereum blockchain in order to initiate any implementation.
Is that basically correct?

What methods will be available for determining Ether value (in BTC or fiat) after the Ether pre-sale is finished, and what avenues will be available to sell Ether for BTC or fiat after the pre-sale is finished. Will Ether be traded on exchanges?

As far as I understand it, there is nothing that prevents exchanges from adding Ether to their sites. This is a questions for the exchanges

[Ursium]

ETH will run as POW after IPO?

As per our DEV plan (located on our site, as a pdf):

Consensus - As discussed above, consensus algorithms are far from perfect. The plan to solve the problem with blockchain-based proof-of-work (PoW) and random computation trees appears promising, but ultimately version 1.0 of a protocol of this form may well fail to bear the brunt of attacks in the long term. An ideal algorithm, one that is both socially cost-free or cost-negative and promotes a high level of decentralization and security, will likely require a combination of novel approaches such as transactions-as-PoS (proof-of-stake), delegated-PoS, useful PoW, next-generation centralization/ASIC-resistant PoW and maybe even more exotic strategies involving bandwidth and storage. Developing such an algorithm, and making sure that it actually works, is an important priority for securing the blockchains of tomorrow.