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Author Topic: [ANN] Ethereum: Welcome to the Beginning  (Read 1806418 times)
Its About Sharing
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July 23, 2014, 04:20:05 PM
 #1661

Terms of ether sale:

https://www.ethereum.org/pdfs/TermsAndConditionsOfTheEthereumGenesisSale.pdf

clause 19.9

Risk that Ethereum Platform May Never be Completed or Released.

Purchaser understands, that while Ethereum Team will make reasonable efforts to complete the Ethereum
software, it is possible that an official completed version of the Ethereum Platform may not be released
and there may never be an operational Ethereum Platform.  Undecided

This is poor form.

I see, raise money and put as many out clauses as possible, that will inspire confidence!

I'm sure they will deliver, but I never expected such legal manipulation from the Ethereum team.


To be fair, there are things like this and much, much worse in most EULAs that people click through.  Not saying this isn't a cause for concern, but it's just as likely that
the team had a lawyer draw up the EULA and something like that isn't really suprising.

Law is about balance, especially when it comes to situations that are not as clear cut as your average contract.

This EULA sounds like it was written by your standard lawyer who will cover his clients every possible outcome without regard to any possible fallout due to the EULA being too biased.

A smarter lawyer would discuss with their client about potential clauses that can cover them but that could backfire due to being not in the clients customers interest at all.

Not all lawyers see things in such a dull manner and understand that some terms are going to be politically sensitive and need review.

This clause should have been left out, with regard to how many scams the Bitcoin community has undergone. I personally have lost hundreds of Bitcoin to scams. If the Ethereum team fail to launch a working system we need the ability to face them in court. This forces them to work for the money we are sending them.

This lawyer did not understand the complex matter of the current Bitcoin investment climate.
These are the terms being offered. Don't like it, don't invest. Even with such open ended terms, they're going to get thousands upon thousands of Bitcoin.

What is wrong with discussion? Your statement sounds like a reformation of "You are either with us or you are against us."
If anything, these Cryptos are about more than black and white choices.

BTC = Black Swan.
BTC = Antifragile - "Some things benefit from shocks; they thrive and grow when exposed to volatility, randomness, disorder, and stressors and love adventure, risk, and uncertainty. Robust is not the opposite of fragile.
MORE CRYPTO, LESS NOISE
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July 23, 2014, 04:23:08 PM
 #1662

But still it seems to be a very big chance for those who want to risk. This is an 41 day opportunity to get Ethereum at the beginning, something like mining BTC on your personal PC in 2010...

FIFY  Smiley

A T/C and Purchase Agreement, dear god, it's too official for me.  Regulation will kill Crypto.  Satoshi rolling over in his bed/grave right now.

I think you got that a bit backwards.
If anything, Crytpo will be the future of regulation and it will not come from above on down, rather from us to them.  Wink

BTC = Black Swan.
BTC = Antifragile - "Some things benefit from shocks; they thrive and grow when exposed to volatility, randomness, disorder, and stressors and love adventure, risk, and uncertainty. Robust is not the opposite of fragile.
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July 23, 2014, 04:24:48 PM
 #1663


That's nothing, this IPO could easily hit 50K BTC by the end of it.

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July 23, 2014, 05:16:41 PM
 #1664

Quote
PLEASE ENSURE THAT YOU HAVE DOWNLOADED YOUR WALLET AND ENSURED THAT THE
.JSON WALLET FILE (ethereum-wallet-.json) IS ON YOUR COMPUTER BEFORE YOU SEND ANY BTC.

You will also be emailed a backup of this file and redirected to the final step when a transaction is detecte



Cannot find the .json wallet file (ethereum-wallet-.json)! Anyone the same problem?

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July 23, 2014, 05:52:40 PM
 #1665

With the amount of btc pouring in I would expect a mega pump once shares are released and listed
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July 23, 2014, 05:56:59 PM
 #1666

With the amount of btc pouring in I would expect a mega pump once shares are released and listed

Did you mean mega dump?   Roll Eyes

There is no place like 127.0.0.1
In blockchain we trust
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July 23, 2014, 06:02:12 PM
 #1667

Quote
PLEASE ENSURE THAT YOU HAVE DOWNLOADED YOUR WALLET AND ENSURED THAT THE
.JSON WALLET FILE (ethereum-wallet-.json) IS ON YOUR COMPUTER BEFORE YOU SEND ANY BTC.

You will also be emailed a backup of this file and redirected to the final step when a transaction is detecte



Cannot find the .json wallet file (ethereum-wallet-.json)! Anyone the same problem?

you will get it on yours e-mail

IOTA
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103 days, 21 hours and 10 minutes.


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July 23, 2014, 06:09:16 PM
 #1668

With the amount of btc pouring in I would expect a mega pump once shares are released and listed

Did you mean mega dump?   Roll Eyes

nah well yes, but after the pump.  I see this being the greatest pump of all time. but yes there will be many sad bagholders

look at the viacoin pump (not as epic as the blackcoin one), but it was an ipo

blackcoin was the best pump i have seen (especially if u got in at 600 satoshi)
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July 23, 2014, 06:15:01 PM
 #1669

Mining question.  What are everyone's expectations on being able to mine this when released. Are there any coins in particular that might see a drop in overall difficulty/nethash? It seems to me that despite all the new and old coins, there never seems to be a shortage of hash power.

ETH: 0x7035134d51A949a4dD99FA4DA9b00F8A9F6fa1dA
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July 23, 2014, 06:44:29 PM
 #1670

Quote
PLEASE ENSURE THAT YOU HAVE DOWNLOADED YOUR WALLET AND ENSURED THAT THE
.JSON WALLET FILE (ethereum-wallet-.json) IS ON YOUR COMPUTER BEFORE YOU SEND ANY BTC.

You will also be emailed a backup of this file and redirected to the final step when a transaction is detecte



Cannot find the .json wallet file (ethereum-wallet-.json)! Anyone the same problem?

you will get it on yours e-mail


I'm sorry, but i do not understand.

"PLEASE ENSURE THAT YOU HAVE DOWNLOADED YOUR WALLET AND ENSURED THAT THE
.JSON WALLET FILE (ethereum-wallet-.json) IS ON YOUR COMPUTER BEFORE YOU SEND ANY BTC."

How  can ensure that i have downloaded my wallet and ensured that the .json wallet file is on my computer before i send any btc, if i get it in the email?  Huh Huh Huh

Nobody has the same problems  Shocked Huh

ETHBITS █ EXISTING EXCHANGE UP TO 80% PROFIT SHARE █ ETHBITS
COPY PROFESSIONAL TRADERS  ▩▬▬▬▬▩  COPY TRADING EXCHANGE
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July 23, 2014, 06:47:03 PM
 #1671

Desaster in the making. 5000 BTC investing in under 24hours and 43 days to go. The 50000 BTC are likely to be broken in the timeframe and even 75k-100k seems possible. You guys know that devs then get 7500-15000 BTC in ethereum + the BTC itself. Also a yearly inflation that is enourmous at 50000 BTC raised....

So many people will get burned, it is really sad Sad

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July 23, 2014, 06:54:44 PM
 #1672

Desaster in the making. 5000 BTC investing in under 24hours and 43 days to go. The 50000 BTC are likely to be broken in the timeframe and even 75k-100k seems possible. You guys know that devs then get 7500-15000 BTC in ethereum + the BTC itself. Also a yearly inflation that is enourmous at 50000 BTC raised....

So many people will get burned, it is really sad Sad

It is an interesting scenario. On one hand, the coin is certainly unique, has professional coders and a ton of exposure. But the sums being thrown at it are getting scary. I wonder who will be left to buy it after the ipo is over.

It doesn't mean it still can't be profitable, as nobody knows. It's just riskier than I would have thought early on. Mining probably would make more sense than buying now, assuming someone already has mining equipment.


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July 23, 2014, 06:55:23 PM
 #1673

So many people will get burned, it is really sad Sad

Will you be among them?   Undecided

Some ppl put in almost 500 BTC. That will get burned for sure.

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July 23, 2014, 06:57:33 PM
 #1674

So many people will get burned, it is really sad Sad

Will you be among them?   Undecided

You all are making me confused.   Sad   Huh Huh

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July 23, 2014, 06:57:41 PM
 #1675

Desaster in the making. 5000 BTC investing in under 24hours and 43 days to go. The 50000 BTC are likely to be broken in the timeframe and even 75k-100k seems possible. You guys know that devs then get 7500-15000 BTC in ethereum + the BTC itself. Also a yearly inflation that is enourmous at 50000 BTC raised....

So many people will get burned, it is really sad Sad

Well your math is off, but your point is still valid.

First of all, anyone who knows anything about fundraising knows that you can have well over 50% come in the first wave of fundraising. I'd say this IPO might get to 10k-12k BTC, but no way it is going to 50k or 100k.

However, there is going to be a glut of Ethereum on the market. It has the potential to be coin with a $10 million dollar cap day one with a 26% inflation. Wow. Then you have a community that has already all invested. Who are the buyers at launch?  This will set a precedent for IPOs in the future. It does have the potential of being an investment bloodbath.

If you haven't heard about what is happening with GAME, check it out.  It's revolutionizing gaming. https://bitcointalk.org/index.php?topic=1266597.0
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July 23, 2014, 06:59:19 PM
 #1676

I'm sorry, but i do not understand.

"PLEASE ENSURE THAT YOU HAVE DOWNLOADED YOUR WALLET AND ENSURED THAT THE
.JSON WALLET FILE (ethereum-wallet-.json) IS ON YOUR COMPUTER BEFORE YOU SEND ANY BTC."

How  can ensure that i have downloaded my wallet and ensured that the .json wallet file is on my computer before i send any btc, if i get it in the email?  Huh Huh Huh

Nobody has the same problems  Shocked Huh

Hello Trunzo, sorry you are having problems. You can download your wallet on Step 5, ahead of purchasing with BTC.

Think of the wallets as gift cards. At first, you can get the giftcard but not 'load it'. Once the BTC is transferred the card is loaded.

The reason we had to make the wallet downloadable early on in the process is because the blockchain.info API could go down (it's outside our control). In which case the BTC would be transferred, the wallet loaded, but the last screen would not appear. Making the (empty) wallet downloadable early on, it helps prevent this (potential) issue.

How it all works is explained on: https://blog.ethereum.org/2014/07/09/how-to-make-a-purchase-in-the-ether-presale/

If you still need help, please email helpdesk@ethereum.org, which is manned 24/7.

Ethereum Twitter: @ethereumproject - Blog: blog.ethereum.org - Forum: forum.ethereum.org - Github: github.com/ethereum
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July 23, 2014, 07:04:26 PM
 #1677

I see people calling ether a coin.

Quote
Ether is a product, NOT a security or investment offering. Ether is simply a token useful for paying transaction fees or building or purchasing decentralized application services on the Ethereum platform; it does not give you voting rights over anything, and we make no guarantees of its future value.

It sounds to me more like buying a MSDN license. It supports further MS development, it doesn't buy you any stock or shares in the company, MS can sell an infinite number if licenses, and it is only really useful if I am a developer or user of an application based on their framework.

Sure you will eventually be able to trade the ether fuel with others later, but the supply is infinite and people will only need to buy ether if they are expending it (faster than they are mining it)

Edit : who is going to pay for it ? The video on their homepage gave the example of a decentralized Facebook. Are these FB 2.0 users really expected to mine or buy ether to use the service ? Or more likely the service will be free and ad sponsored. How many scenarios will there be where consumers actually need to burn ether ?
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July 23, 2014, 07:07:39 PM
 #1678



However, there is going to be a glut of Ethereum on the market. It has the potential to be coin with a $10 million dollar cap day one with a 26% inflation. Wow. Then you have a community that has already all invested. Who are the buyers at launch?  This will set a precedent for IPOs in the future. It does have the potential of being an investment bloodbath.

I wonder what percentage of this community are the ones even investing. Before people even really even knew the IPO was open here, there was already a lot of money in the IPO. I am assuming companies/investors are coming outside of the crypto community too. It's not like some random alt that just made a thread here a week before the IPO opened ... it had a ton of exposure.

To be profitable, buyers would have to come from outside of the typical crypto community, most likely. With that amount of money invested, they surely could make some noise marketing-wise. So it'd then be those not typically interested in crypto, reading about some wildly successful IPO, or an article about how Ethererum is the next 'big thing'... and so on. Not so sure there is enough of them to make this profitable for investors buying in now, but I wouldn't say it's impossible either. It's certainly risky though.


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July 23, 2014, 07:11:11 PM
 #1679

So many people will get burned, it is really sad Sad

Will you be among them?   Undecided

No, I have decided to evaluate AFTER the project is released. I expect the price to be about 50% lower then.

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July 23, 2014, 07:11:59 PM
 #1680



Funny thing is, the way their IPO is structured, the more hype and the more people invest, the lower the immediate return will be (assuming any return) for each individual investor - think Facebook's IPO - and it all gets diluted by massive inflation going forward.
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