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Author Topic: [ANN] Ethereum: Welcome to the Beginning  (Read 1813118 times)
deephouse
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August 06, 2014, 12:17:18 AM
 #1881

Can some tell me if Ethereum is only meant/useful for developers? Can it be used/useful for a non IT person?

Bump + 22,216.44112997 BTC in the pot  Shocked Shocked Shocked Shocked

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DannyElfman
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August 06, 2014, 12:22:35 AM
 #1882

Can some tell me if Ethereum is only meant/useful for developers? Can it be used/useful for a non IT person?

Bump + 22,216.44112997 BTC in the pot  Shocked Shocked Shocked Shocked

You can use the apps that are built ontop but I doubt you have the skills to program those apps.

Anyway I think the immediate use-cases for normal non-it, non-finance guys is minimal.

This spot for rent.
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August 06, 2014, 12:28:24 AM
 #1883

Thanks for the reply. Investment seems interesting.

Based on the what has come so far to that BTC account. The top BTC's investment came into that address from:

WOW!

Quote
499.9997
466.7897
330.1797
329.9997
279.9997
264.9997
249.9997
249.9997
227.9997
224.9997
217.9997
199.9997
199.9997
189.9997
188.9997
173.4183
164.9997
157.40362
154.9997
149.9997
149.9997
135.3397
129.9997
127.4537
124.9997
105
103.9997
103.3817976
101.7176

Benjig
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August 06, 2014, 12:57:11 AM
 #1884

But if the amount of ether sold continues to get bigger, i mean there is almost a month left, if at the end of this sale there are 200 millions of ether sold, what would you do? do you think a new brand alt coin will support a 100,000 btc price? this ipo can get trapped on his own success. at least for investors, not for the owners.

Internet of things.
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August 06, 2014, 01:01:29 AM
 #1885

But if the amount of ether sold continues to get bigger, i mean there is almost a month left, if at the end of this sale there are 200 millions of ether sold, what would you do? do you think a new brand alt coin will support a 100,000 btc price? this ipo can get trapped on his own success. at least for investors, not for the owners.

Yes, that was my theory as well. Also the reason I wagered that >25000 BTC will be invested (even suggested that up to 50000 will be invested!)

My rationale behind this is the following, the amount of BTC that needs to be pumped into this coin after the launch will be enourmous, if now all people buy in the IPO, this number gets bigger and bigger in addition to that everyone already bought that was interested! So who will be the buyers that buy at over IPO prices? 

I don't know that, and most others don't either!

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August 06, 2014, 01:10:59 AM
 #1886

But if the amount of ether sold continues to get bigger, i mean there is almost a month left, if at the end of this sale there are 200 millions of ether sold, what would you do? do you think a new brand alt coin will support a 100,000 btc price? this ipo can get trapped on his own success. at least for investors, not for the owners.

Yes, that was my theory as well. Also the reason I wagered that >25000 BTC will be invested (even suggested that up to 50000 will be invested!)

My rationale behind this is the following, the amount of BTC that needs to be pumped into this coin after the launch will be enourmous, if now all people buy in the IPO, this number gets bigger and bigger in addition to that everyone already bought that was interested! So who will be the buyers that buy at over IPO prices?  

I don't know that, and most others don't either!

this has only two outcomes, first is that as seen on many ipos, investors will be selling his shares at loss without felling bad because bitcoin will be 5 or 10 x more (and if bitcoin remains the same it can happen too) triying to get back a portion of what they blown... and second the only way to see an increase on the price of this ether is that the project indeed sucess and ether starts to be consumed by real needs on the network not only speculation.

Internet of things.
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August 06, 2014, 01:12:28 AM
 #1887

But if the amount of ether sold continues to get bigger, i mean there is almost a month left, if at the end of this sale there are 200 millions of ether sold, what would you do? do you think a new brand alt coin will support a 100,000 btc price? this ipo can get trapped on his own success. at least for investors, not for the owners.

Yes, that was my theory as well. Also the reason I wagered that >25000 BTC will be invested (even suggested that up to 50000 will be invested!)

My rationale behind this is the following, the amount of BTC that needs to be pumped into this coin after the launch will be enourmous, if now all people buy in the IPO, this number gets bigger and bigger in addition to that everyone already bought that was interested! So who will be the buyers that buy at over IPO prices? 

I don't know that, and most others don't either!

this has only two outcomes, first is that as seen on many ipos, investors will be selling his shares at loss without felling bad because bitcoin will be 5 or 10 x more (and if bitcoin remains the same it can happen too) triying to get back a portion of what they blowed... and second the only way to see an increase on the price of this ether is that the project indeed sucess and ether starts to be consumed by real needs on the network not only speculation.

The third outcome being that ether never launches what it promissed.

the fourth outcome being that ether is a disapointment and price plummtes even though BTC price doesn't move.

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August 06, 2014, 01:15:22 AM
 #1888

But if the amount of ether sold continues to get bigger, i mean there is almost a month left, if at the end of this sale there are 200 millions of ether sold, what would you do? do you think a new brand alt coin will support a 100,000 btc price? this ipo can get trapped on his own success. at least for investors, not for the owners.

Yes, that was my theory as well. Also the reason I wagered that >25000 BTC will be invested (even suggested that up to 50000 will be invested!)

My rationale behind this is the following, the amount of BTC that needs to be pumped into this coin after the launch will be enourmous, if now all people buy in the IPO, this number gets bigger and bigger in addition to that everyone already bought that was interested! So who will be the buyers that buy at over IPO prices?  

I don't know that, and most others don't either!

this has only two outcomes, first is that as seen on many ipos, investors will be selling his shares at loss without felling bad because bitcoin will be 5 or 10 x more (and if bitcoin remains the same it can happen too) triying to get back a portion of what they blowed... and second the only way to see an increase on the price of this ether is that the project indeed sucess and ether starts to be consumed by real needs on the network not only speculation.

The third outcome being that ether never launches what it promissed.

the fourth outcome being that ether is a disapointment and price plummtes even though BTC price doesn't move.

that two options are englobed on my first option.. i was refer to investors selling at loss due to any reason or no matter what reason was why it failed.

indeed the third outcome can be true, but i would say that ethereum never launches what he promised and never put even the shares live and all get scammed with all the investment. (what is almost unprovable when they can launch even a shitty software so they dont have legal issues.),   Cheesy

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August 06, 2014, 01:18:03 AM
 #1889

But if the amount of ether sold continues to get bigger, i mean there is almost a month left, if at the end of this sale there are 200 millions of ether sold, what would you do? do you think a new brand alt coin will support a 100,000 btc price? this ipo can get trapped on his own success. at least for investors, not for the owners.

Yes, that was my theory as well. Also the reason I wagered that >25000 BTC will be invested (even suggested that up to 50000 will be invested!)

My rationale behind this is the following, the amount of BTC that needs to be pumped into this coin after the launch will be enourmous, if now all people buy in the IPO, this number gets bigger and bigger in addition to that everyone already bought that was interested! So who will be the buyers that buy at over IPO prices? 

I don't know that, and most others don't either!

this has only two outcomes, first is that as seen on many ipos, investors will be selling his shares at loss without felling bad because bitcoin will be 5 or 10 x more (and if bitcoin remains the same it can happen too) triying to get back a portion of what they blowed... and second the only way to see an increase on the price of this ether is that the project indeed sucess and ether starts to be consumed by real needs on the network not only speculation.

The third outcome being that ether never launches what it promissed.

the fourth outcome being that ether is a disapointment and price plummtes even though BTC price doesn't move.

that two options are englobed on my first option.. i was refer to investors selling at loss due to any reason or no matter what reason was why it failed.

indeed the third outcome can be true, but i would say that ethereum never launches what he promised and never put even the shares live and all get scammed with all the investment.  Cheesy

They would be the most hated group of people in the crypto world if that happens but legally they are not required to launch this thing. If you read their TOS it reads like the rules of the worst company in the world Wink

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August 06, 2014, 02:10:08 AM
 #1890

Thanks. Is he trustworthy?

He is pretty much one of the most trustworthy persons out there.
BUT he is an asshole Wink
That being said he may laugh at your for being a newby but he will keep his word 100%

Do you know if he provides a collateral in escrow?
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August 06, 2014, 02:15:18 AM
 #1891

Thanks. Is he trustworthy?

He is pretty much one of the most trustworthy persons out there.
BUT he is an asshole Wink
That being said he may laugh at your for being a newby but he will keep his word 100%

Do you know if he provides a collateral in escrow?

Most likely not .But as he owns about 300k-500k bitcoins in semi-liquid stock + XXXk in real BTC (most likely) I don't think it is neccessary.

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August 06, 2014, 02:19:20 AM
 #1892

I think that the sale will slow down significantly after this next price decrease - most investors who wanted to invest would have done so already. I think you'll see maybe another 1000 or so BTC invested but it'll be from little guys going forward.

In other news, this bet expires in 17 hours if you still want to get your prediction locked in:

___________Total Ether sold will exceed 25,000 BTC
Options: Yes | No

--------------
If there's interest I'll recreate it with 50K BTC afterwards Cool

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August 06, 2014, 02:22:58 AM
 #1893

Thanks. Is he trustworthy?

He is pretty much one of the most trustworthy persons out there.
BUT he is an asshole Wink
That being said he may laugh at your for being a newby but he will keep his word 100%

Do you know if he provides a collateral in escrow?

Most likely not .But as he owns about 300k-500k bitcoins in semi-liquid stock + XXXk in real BTC (most likely) I don't think it is neccessary.

Mother of god Shocked  Shocked
DannyElfman
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August 06, 2014, 02:26:46 AM
 #1894

Thanks. Is he trustworthy?

He is pretty much one of the most trustworthy persons out there.
BUT he is an asshole Wink
That being said he may laugh at your for being a newby but he will keep his word 100%

Do you know if he provides a collateral in escrow?

Most likely not .But as he owns about 300k-500k bitcoins in semi-liquid stock + XXXk in real BTC (most likely) I don't think it is neccessary.

Mother of god Shocked  Shocked

Yeah, lucky SOB... right time, right place and apparently not the dumbest person Wink

This spot for rent.
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August 06, 2014, 03:20:47 AM
 #1895



They would be the most hated group of people in the crypto world if that happens but legally they are not required to launch this thing. If you read their TOS it reads like the rules of the worst company in the world Wink

It does read that way.

I don't disagree with any of the scenarios presented, just I wonder if there is any scenario where ipo people could actually make any money initially. I have difficulty coming up with one due to the insane amounts invested (otherwise I would have put a btc or two into this). It's like a much worse maidsafe scenario ... it'd seem really unlikely for investors to recoup their money early on. And in that case, of course it makes sense to just wait.


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August 06, 2014, 07:38:12 AM
 #1896

But if the amount of ether sold continues to get bigger, i mean there is almost a month left, if at the end of this sale there are 200 millions of ether sold, what would you do? do you think a new brand alt coin will support a 100,000 btc price? this ipo can get trapped on his own success. at least for investors, not for the owners.

Yes, that was my theory as well. Also the reason I wagered that >25000 BTC will be invested (even suggested that up to 50000 will be invested!)

My rationale behind this is the following, the amount of BTC that needs to be pumped into this coin after the launch will be enourmous, if now all people buy in the IPO, this number gets bigger and bigger in addition to that everyone already bought that was interested! So who will be the buyers that buy at over IPO prices? 

I don't know that, and most others don't either!

Congrats on winning our bet!

Ethereum is going to be the biggest IPO debacle in crypto history.  There are going to be no buyers for this "coin." Thats the short term problem. So is the "where the hell are they ever going to justify spending $25 million dollars on CODING!"  Holy shit batman! This is a joke.

So here are all the likely things that are going to happen. "Investors" are going to be watching expenditures like a hawk. Anything that doesn't make sense to the public is going to cause a shitstorm.

On top of that Ethereum VC owners will control probably between 40-50k bitcoins. That is a huge cloud over the price of bitcoin and every bitcoin cashed in is going to be scrutinized.

Then there is the fact that the price will plummet. It has no choice but to plummet. No one is going to buy this coin.  Yes, there will be some buyers the first week or two. Then there will be no more buyers. ANY lack of ability to deliver is going to cause panic sells and once that happens 1 time the price will be permanently underwater.

Then the question is what would it take for the Ethereum investment to be profitable? Well, thats hard to quantify. As many wise people have noted, Ether is a coin to pay for contracts, etc built on top of the platform. If successful Ether will have its own market competition forces that will drive down the costs of transactions, making Ether LESS valuable long term.

And, OH BY THE WAY, Ether is INFLATIONARY. Wow. Just wow.

The odds of this ending well are so freaking minute. Its going to be a shitshow.
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August 06, 2014, 03:29:10 PM
 #1897

But if the amount of ether sold continues to get bigger, i mean there is almost a month left, if at the end of this sale there are 200 millions of ether sold, what would you do? do you think a new brand alt coin will support a 100,000 btc price? this ipo can get trapped on his own success. at least for investors, not for the owners.

Yes, that was my theory as well. Also the reason I wagered that >25000 BTC will be invested (even suggested that up to 50000 will be invested!)

My rationale behind this is the following, the amount of BTC that needs to be pumped into this coin after the launch will be enourmous, if now all people buy in the IPO, this number gets bigger and bigger in addition to that everyone already bought that was interested! So who will be the buyers that buy at over IPO prices? 

I don't know that, and most others don't either!

Congrats on winning our bet!

Ethereum is going to be the biggest IPO debacle in crypto history.  There are going to be no buyers for this "coin." Thats the short term problem. So is the "where the hell are they ever going to justify spending $25 million dollars on CODING!"  Holy shit batman! This is a joke.

So here are all the likely things that are going to happen. "Investors" are going to be watching expenditures like a hawk. Anything that doesn't make sense to the public is going to cause a shitstorm.

On top of that Ethereum VC owners will control probably between 40-50k bitcoins. That is a huge cloud over the price of bitcoin and every bitcoin cashed in is going to be scrutinized.

Then there is the fact that the price will plummet. It has no choice but to plummet. No one is going to buy this coin.  Yes, there will be some buyers the first week or two. Then there will be no more buyers. ANY lack of ability to deliver is going to cause panic sells and once that happens 1 time the price will be permanently underwater.

Then the question is what would it take for the Ethereum investment to be profitable? Well, thats hard to quantify. As many wise people have noted, Ether is a coin to pay for contracts, etc built on top of the platform. If successful Ether will have its own market competition forces that will drive down the costs of transactions, making Ether LESS valuable long term.

And, OH BY THE WAY, Ether is INFLATIONARY. Wow. Just wow.

The odds of this ending well are so freaking minute. Its going to be a shitshow.

I agree with this. Wanted to add that it'll also be a huge test of patience from the 'investors'. A niche technology built on top of/within another niche technology may take decades to play out, will have bugs, and likely be in competition with Bitcoin that will for the current foreseeable future still be #1 and get improvements that directly replace Ethereum's methods.

I'd love to hear from one of these 'investors' what their time horizon is on this, and what kind of profit they expect and why.

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August 06, 2014, 03:30:55 PM
 #1898

just now bought some 2600+ ETH @ 1970.  Cool

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August 06, 2014, 04:58:31 PM
 #1899

just now bought some 2600+ ETH @ 1970.  Cool


Can I hear your reason as to why?

Dı̸̸̸̸̸̸̸̸̸̸̸̸̸̸̸̸̸̸̨̨̨̨̨̨d you try to wipe it?
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August 06, 2014, 05:26:54 PM
 #1900

I'd love to hear from one of these 'investors' what their time horizon is on this, and what kind of profit they expect and why.

I bought in in the first days, but only a minor amount.  I never expected to make a profit from it, just wanted to be part of it.  The few IPO-ETHs that I bought may be a nice souvenir in the future - or not.  But I definitely don't care to lose the money I put in, and I don't see why others are pouring such huge amounts of BTC in Ethereum at the moment.

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