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Author Topic: [ANN] Ethereum: Welcome to the Beginning  (Read 1194697 times)
romanticon
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January 23, 2014, 07:02:54 PM
 #21

Obviously since the Master Protocol has many of the same goals, I'm keeping an eye on this project.

Regardless of which technology stacks survive and/or thrive, I think we can all agree that the financial world is in for some major upheaval!

Sure, it's obvious that the protocol is only a tool
to achieve freedom based economy.
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January 23, 2014, 07:07:46 PM
 #22

How can ethereum be illegal its just new technology what people do with the technology could be illegal, same goes for a browser, bitcoin, a chainsaw, a car, a hammer...
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January 23, 2014, 08:08:26 PM
 #23

Along with the legal aspects, there are many risks with this project.  However, there is a solid team in place and it is the people that interest me.

At what time (please also state the timezone) will the IPO start on Feb 1st?
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January 23, 2014, 08:45:11 PM
 #24

Quote
At what time (please also state the timezone) will the IPO start on Feb 1st?

Good old 00:00 GMT

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January 23, 2014, 10:27:52 PM
 #25

Good luck!

I am definately in.  Smiley

A few questions here:

1.
Early investors for taking a great risk due to the uncertainty of investment will be rewarded by a bonus of 2*initial investment for the first week and then this bonus decays by 2 percent per day for the remainder of the fundraiser until it reaches a floor of the base exchange rate of 0.001 BTC per 1 Ether

Could you please put some more light on this statement, for example, if I invest 1 BTC within the first week, how much Ethers will I end win at the end of the fundraising period?

2. Where can I find a client for Linux and install it, if it is still not created, how can I get the ethers I am going to buy from the IPO?

Thanks and good luck again!   Wink

Bump.
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January 23, 2014, 10:35:58 PM
 #26

Looking forward to it!

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January 23, 2014, 11:11:04 PM
 #27

This is super exciting. I've been following this for a while now and the more I read, the more interested in it I am!
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January 23, 2014, 11:12:32 PM
 #28

  • After the fundraiser closes, the total sum of ether produced will be denoted as X and we will instantiate a premine of 0.50*X for the fiduciary members, early stakeholders, strategic partners, a pool for use between the conclusion of the fundraiser and the launch of mining and finally a long term endowment. Specific percentages will be discussed in the Prospectus to be released on the day of the fundraiser (Feb 1st)

A premine? 50% of the whole supply? REALLY?

Isn't the massive amount of BTC you will probably gather in the IPO enough?

It seems to me that greed is taking over.

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January 23, 2014, 11:17:37 PM
 #29

Dear Ethereum developers,
may i ask why you are fixing fee ratios instead of allowing the market to adjust them in the future?
Isn't it the same as trying to fix prices in a centrally planned economy?
What will happen if for a certain "x", DATAFEE will be too low (below real market value) and NEWCONTRACTFEE will be too high at the same time?
Don't you run the risk that some very good applications will not be built or run properly, while others "bad" applications will because of this?

GL for the project!
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January 24, 2014, 12:38:32 AM
 #30

Looks like another way to get money and give nothing back. Where did you dump your other projects? The ones people also invested into...

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January 24, 2014, 01:36:45 AM
 #31

Very excited about this.

Excellent work. Is there any more detail regarding the fund launch? Will there be a mac client? Or is it more like mastercoin? Very keen to invest at launch.

Thanks. & good luck!
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January 24, 2014, 01:38:25 AM
 #32

Interested
Want to invest 0.2btc how to do?

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January 24, 2014, 01:53:07 AM
 #33

Interested
Want to invest 0.2btc how to do?



https://bitcointalk.org/index.php?topic=428589.msg4683379#msg4683379

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January 24, 2014, 02:04:29 AM
 #34

Trust Over IP to Bitcoin's Money Over IP . It is an ambitious project, one of the most exciting in this space for some years. Keeping an eye on the latest progress

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January 24, 2014, 02:08:03 AM
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That's mean we have to wait 7 days and 21 hours ?

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January 24, 2014, 02:23:37 AM
 #36

I've read all 28 pages on the other thread, and all the posts on this one so far. I'm surprised at so many people who are opposed to the founders' share. My take on it is this: if you invent potentially world-changing technology, and that technology succeeds, you deserve to be rewarded. I don't see anybody here complaining about how much money Larry Page and Sergey Brin made off Google!

The founders' ether doesn't even begin to vest until one year after launch, and doesn't finish vesting until three years after launch. That means two things: first, there is no "insant profit" for the founders...they only make money if they create long-term value. Secondly, their premine shares are "locked," which means that even though there is an initial 33% premine (0.5X), no portion of that money will show up on exchanges until 1-3 years have passed. For all practical purposes, that ether doesn't even exist until it vests.

Some of you have said "but they get the bitcoins, and then they get a share of ether, too!" But you aren't reading their terms carefully enough--those bitcoins go to pay for development. They do not go into the pockets of the founders (other than inasmuch as they are paid salaries, as employees). If you think they are lying, well that's another thing entirely. Given the caliber of the founders' and their reputation, I think that is seriously unlikely.

Another thing I don't understand is how people understand ratios so poorly. Would you rather 1000 coins at $10 profit each, or 100 coins at $100 profit each? (HINT: It's the same amount either way!).

TL;DR If you think ethereum just faces too many technical and legal hurdles, or that it's just too risky, then don't invest. But if you think this has true potential and you decide not to invest "on principle" because you feel like the founders are making too much money, then you're a damn fool.

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January 24, 2014, 02:27:42 AM
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KawalGrover
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January 24, 2014, 03:04:00 AM
 #38

Congratulations! I've read the white paper (twice) and I am beginning to understand about 25% of it! Whenever I hear about protocols that support building custom currencies, I get all giddy.

The feeling I had when I first learnt about the MasterCoins project, or ColoredCoins or OpenTransactions or NXT has just been magnified even more by seeing what Ethereum is about to bring to the table.

I will be keeping a close on this one.

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January 24, 2014, 03:17:14 AM
 #39

I've read all 28 pages on the other thread, and all the posts on this one so far. I'm surprised at so many people who are opposed to the founders' share. My take on it is this: if you invent potentially world-changing technology, and that technology succeeds, you deserve to be rewarded. I don't see anybody here complaining about how much money Larry Page and Sergey Brin made off Google!

The founders' ether doesn't even begin to vest until one year after launch, and doesn't finish vesting until three years after launch. That means two things: first, there is no "insant profit" for the founders...they only make money if they create long-term value. Secondly, their premine shares are "locked," which means that even though there is an initial 33% premine (0.5X), no portion of that money will show up on exchanges until 1-3 years have passed. For all practical purposes, that ether doesn't even exist until it vests.

Some of you have said "but they get the bitcoins, and then they get a share of ether, too!" But you aren't reading their terms carefully enough--those bitcoins go to pay for development. They do not go into the pockets of the founders (other than inasmuch as they are paid salaries, as employees). If you think they are lying, well that's another thing entirely. Given the caliber of the founders' and their reputation, I think that is seriously unlikely.

Another thing I don't understand is how people understand ratios so poorly. Would you rather 1000 coins at $10 profit each, or 100 coins at $100 profit each? (HINT: It's the same amount either way!).

TL;DR If you think ethereum just faces too many technical and legal hurdles, or that it's just too risky, then don't invest. But if you think this has true potential and you decide not to invest "on principle" because you feel like the founders are making too much money, then you're a damn fool.

Thanks for the coherent thought--it's nice to find between all the troll posts Grin


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January 24, 2014, 03:29:47 AM
 #40

Regardless of which technology stacks survive and/or thrive, I think we can all agree that the financial world is in for some major upheaval!

My thoughts exactly! Good luck guys!

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