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Author Topic: [ANN] Ethereum: Welcome to the Beginning  (Read 1584798 times)
gutshot5820
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January 25, 2014, 11:37:29 PM
 #281

I don't know how long has you been involved with bitcoin but the sooner you understand that bitcoin and decentralized network is not compatible with current law framework the better you understand why things are the way they are.

Take the red pill and be free or go back to your current comfortable existence of investing in sp500


there is no issue with the fund raise. People are free to spend their money as they choose

also who said it occurs in us jurisdiction.



Not true, there are laws regarding transparency and compliance when people are trying to raise millions of dollars from strangers...in order to prevent fraud.  There will be similar laws in most countries and Canada if Im not mistaken is much tougher than US when it comes to crowdfundraising.

And why, who cares what jurisdiction they are in, if they are asking for 36 million from total strangers before they even open for business they should spend a few hundred thousand to provide assurances that they are in legal rights in each country they do business with and file all the necessary regulatory documents.  If they are not hiding anything or worried why would they care what jurisdiction they are in?

+1 And I have no vested interest in Ethereum beyond wanting to participate in the pre-sale. gutshot5820 repeatedly invokes US regulations and seeks to impose them on a global marketplace. He does not comprehend the whole purpose of crypto assets and so does not belong in this community. He should go back to his safe little 'empire in decline' and enjoy his illusion of safety and security while it still lasts.

"Those who would sacrifice their liberty for security deserve neither."

Silly meaningless passive inspirational quotes.  Full of sound and fury with absolutely no meaning.  Worthless in every way because you have a vested small time interest in making a profit.  If you lose a btc who cares right but 36 million as a whole community?  If you had that kind of money you would never invest 36 million into the coin unless there was proper due diligence, bond and the assurance that all regulatory laws were followed.  And yet out of your selfish greed to make a quick short buck you are advocating the entire bitcoin community to invest 36 total million dollars without oversight.  cockroach.
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_ingsoc
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January 25, 2014, 11:38:03 PM
 #282

I'm not so sure about this.

- They are asking an insane $36 million

- 50% pre mined

- They are setting a price out of nothing for 1 eth, while it's not even out yet

- "ex" Goldman Sachs pricks are supporting this project

aaand probably other red flags i'm not aware of.


They're not asking for $36m. There's a hard cap of 30k BTC. That's all it is. Somehow that's been drawn out of context and waved around. The vast majority of the funding goes to development and building things for the Ethereum ecosystem. They actually don't end up with all that much, and what they end up with keeps them vested in the project for many years. How is that bad? If people are pissed about it being "unfair", then we need to talk about this in a rational way and vote on it.

This whole Goldman Sachs thing is stupid as all hell. Just do some research please instead of just accepting what everyone tells you. It's literally the equivalent of calling Edward Snowden a traitor today because he worked for the NSA in the past.

porqupine
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January 25, 2014, 11:43:44 PM
 #283

Since they take both BTC and 33% of the premine - what is stopping the Dev's from donating their own BTC - receiving 1.5X in Ether and all the BTC back through the foundation?
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Let's go!


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January 25, 2014, 11:44:02 PM
 #284

There is a serious issue her nobody is talking about, my understanding is Ether is an open source project just like bitcoin, with added programming language. But being open source what's to stop anyone from creating a clone that sells contracts for less,

This came up on reddit: http://www.reddit.com/r/ethereum/comments/1w0t3i/forking_ethereum/
There are integrations, collaborations and partnerships that can't be forked. Also, if you want to start a business on Ethereum, would you want to risk starting it on a clone?

Quote
Another concern is all the ideas that are mentioned are not completely original...
That's true. Satoshi wanted to experiment with a scripting language. This idea has been around. The technologies to do this are finally coming together.

Quote
I have seen this whitepaper change three times already within a weekh for people to throw in the money. [/size]

The offical announcement is this weekend in Miami. You've been looking at the early drafts. However, I suspect there will be a lot of changes to Ethereum over the next 6 months as they test and tweak things.
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January 25, 2014, 11:44:41 PM
 #285

Silly meaningless passive inspirational quotes.  Full of sound and fury with absolutely no meaning.  Worthless in every way because you have a vested small time interest in making a profit.  If you lose a btc who cares right but 36 million as a whole community?  If you had that kind of money you would never invest 36 million into the coin unless there was proper due diligence, bond and the assurance that all regulatory laws were followed.  And yet out of your selfish greed to make a quick short buck you are advocating the entire bitcoin community to invest 36 total million dollars without oversight.  cockroach.

If you want the government to decide everything for you and protect every decision you make, go live in a mental asylum. Take some responsibility and do your own research. If you don't like the project, have the respect for others and dignity to leave and stop dirtying everything with disinformation. Every post you make is identical. We've told you a million times now that the $36m figure is a way off, but you refuse to listen. It's also been said numerous times that a prospectus will be released. This isn't equity, but you ignore that too.

luckygenough56
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January 25, 2014, 11:45:45 PM
 #286

This thing is totally insane, 0.0001 BTC per coin, seriously ?

Isn't ethereum going for a trillion coins market cap ?



_ingsoc
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January 25, 2014, 11:46:53 PM
 #287

Since they take both BTC and 33% of the premine - what is stopping the Dev's from donating their own BTC - receiving 1.5X in Ether and all the BTC back through the foundation?

Quoting from vbuterin (Vitalik) on Reddit:

"The organization will absolutely not attempt to increase its reserve by investing BTC into its own fundraiser."

_ingsoc
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January 25, 2014, 11:49:34 PM
 #288

This thing is totally insane, 0.0001 BTC per coin, seriously ?

Isn't ethereum going for a trillion coins market cap ?

Regarding the trillion coins issue, read this post by canth.

gutshot5820
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January 25, 2014, 11:51:46 PM
 #289

Silly meaningless passive inspirational quotes.  Full of sound and fury with absolutely no meaning.  Worthless in every way because you have a vested small time interest in making a profit.  If you lose a btc who cares right but 36 million as a whole community?  If you had that kind of money you would never invest 36 million into the coin unless there was proper due diligence, bond and the assurance that all regulatory laws were followed.  And yet out of your selfish greed to make a quick short buck you are advocating the entire bitcoin community to invest 36 total million dollars without oversight.  cockroach.

If you want the government to decide everything for you and protect every decision you make, go live in a mental asylum. Take some responsibility and do your own research. If you don't like the project, have the respect for others and dignity to leave and stop dirtying everything with disinformation. Every post you make is identical. We've told you a million times now that the $36m figure is a way off, but you refuse to listen. It's also been said numerous times that a prospectus will be released. This isn't equity, but you ignore that too.

Wow thats just a goddamn silly ass story, you know what I think you are a liar, thats my opinion.  You are trolling up and down this board trying to pump up the coin and for what?  Government fear mongering?  Is that your attempt to divert people from the truth that these guys are avoiding transparency and the SEC by breaking who knows how many countless laws.  These laws were created to protect people from fraud.  Yea you know what? the fracking police is part of the government and so is your mailman?  What the fuck does that have anything to do with Euretheum trying to raise 36 million from complete strangers without a single piece of documentation outside of a youtube video?
kovand11
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January 25, 2014, 11:52:23 PM
 #290

Since they take both BTC and 33% of the premine - what is stopping the Dev's from donating their own BTC - receiving 1.5X in Ether and all the BTC back through the foundation?

Quoting from vbuterin (Vitalik) on Reddit:

"The organization will absolutely not attempt to increase its reserve by investing BTC into its own fundraiser."

That means absolutly nothing. No way to know, who invested actually.
oldgascan
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January 25, 2014, 11:54:09 PM
 #291

Basically.....

Fuck off pricks. Goldman Sachs involvement? What assholes. It will be fun watching this one die.
luckygenough56
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January 25, 2014, 11:56:08 PM
 #292

Too greedy launch i think, i'll probably go for the first cheaper clone of ethereum Wink
Newmine
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January 26, 2014, 12:02:14 AM
 #293

There is a serious issue her nobody is talking about, my understanding is Ether is an open source project just like bitcoin, with added programming language. But being open source what's to stop anyone from creating a clone that sells contracts for less, lets say a wookiedoo-for-less? Obviously the problem of fixed rates was not addressed, and why another group of devs who won't charge 30000 bitcoins two months from now and release an alt client that will do the same thing and give miners more thus have a much better chain with the ability to execute contracts at a much lower price allowing a faster adoption... My point by example.. Apple had an operating system better than windows at the early start, bad management and greed at Apple lead everyone to Microsoft's hands...

So If wookiedoo-for-less comes along what to stop people from deserting leaving Ether investors at a huge loss? and don't tell me the people behind it, we are talking 30000 bitcoins here not 50

Another concern is all the ideas that are mentioned are not completely original, it's been mentioned in bits and pieces here on these forums, actually smart contracts are currently being implemented elsewhere, so you want people to invest for two months on "whitepaper" without a client or a chain. I have seen this whitepaper change three times already within a week, dagger in dagger out, pow or pos, ether or wookiedoo, founders known/unknown, that is not transparency, that looks like a last minute rush to squeeze as much btc out as possible. I seen people post here, and on redit, in favor of Ether, that's wonderful, I like the project too, but after following up on the people posting in favor most are related to this project somehow. Let's take a look at this guy who wrote an open letter to the foundation about having concerns on the IPO, he is a promoter, yes that's his job, actually his website turned out to be a promotion for Ether, although he attempted to look like a concerned outsider, he is obviously not. When his suggestions were answered the next day, he was happy and these wonderful people answered his concerns, so now it's a great time to invest. However, people did not like the price increase, and all the changes were scrapped. So he comes here with his 2 posts account, and still promotes, no mention about concerns anymore. So when people ask for transparency Do not tell them to F#$# off. You have a great project here, but, your promotion is shameless, throwing in the word genius left and right does not make an investor feel any better, and certainly is not enough for people to throw in the money.


I thought the same thing. If I was a developer, I would clone the source and ask for donations afterward or set up a fee structure that pays me. No pre-mine. No crowd funding. Put up my own sweat and cash and then try and get paid. Not vice versa.

Yes all the ideas have been thrown around. Bitshares is a prime source of inspiration as the former CEO of the co. creating Bitshares was fired and is now working with this team.
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January 26, 2014, 12:03:49 AM
 #294

Silly meaningless passive inspirational quotes.  Full of sound and fury with absolutely no meaning.  Worthless in every way because you have a vested small time interest in making a profit.  If you lose a btc who cares right but 36 million as a whole community?  If you had that kind of money you would never invest 36 million into the coin unless there was proper due diligence, bond and the assurance that all regulatory laws were followed.  And yet out of your selfish greed to make a quick short buck you are advocating the entire bitcoin community to invest 36 total million dollars without oversight.  cockroach.

If you want the government to decide everything for you and protect every decision you make, go live in a mental asylum. Take some responsibility and do your own research. If you don't like the project, have the respect for others and dignity to leave and stop dirtying everything with disinformation. Every post you make is identical. We've told you a million times now that the $36m figure is a way off, but you refuse to listen. It's also been said numerous times that a prospectus will be released. This isn't equity, but you ignore that too.

+1

Actually, for me personally, the less people invest, the better. I want to see as little dilution of my investment as possible. The 36 million is a high market cap, and meant to allow as many people to participate as possible up to a point beyond which further investment would dilute investment without the organization being able to use it to bring the product to market and add more features any faster, reducing the rate of ROI.

My concern is that people like gutshot5820, who feel they are qualified to make decisions for the rest of us with their crap 20th century laws, which stifle innovation, and lock out small time investors from participating in seed rounds, while protecting established crony interests, will scare off the project from offering this opportunity to the public. Believe me, they don't have to - they already have plenty of qualified investment which would be SEC compliant. This almost happened with eMunie.

Again gutshot5820, please leave - not just this thread, but this forum.
gutshot5820
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January 26, 2014, 12:04:45 AM
 #295

I think there is a general sentiment that this deal for ethereum is just a scam to make their principals and friends rich.  The traders in coins are smarter than you think.  You can't just verbalize government fearmongering to replace solid transparency and documentation.  People are generally fair, especially traders and they know when they are getting screwed.  

The same two or three guys that are trying to pump up the coin and discredit anyone who questions the transparency or legality of the coin remind me of the shills on health care websites.  They act like they are customers and pump and pump their product and only later I realized they are company employees and pretty much the same one or two guys shilling for their company and interests.  The more aggressive they become, the more I realize they are full of shit.
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January 26, 2014, 12:08:59 AM
 #296

Wow thats just a goddamn silly ass story, you know what I think you are a liar, thats my opinion.  You are trolling up and down this board trying to pump up the coin and for what?  Government fear mongering?  Is that your attempt to divert people from the truth that these guys are avoiding transparency and the SEC by breaking who knows how many countless laws.  These laws were created to protect people from fraud.  Yea you know what? the fracking police is part of the government and so is your mailman?  What the fuck does that have anything to do with Euretheum trying to raise 36 million from complete strangers without a single piece of documentation outside of a youtube video?

I'm trying to "pump up" this coin because it's getting crazy unfair treatment right now. The people involved have been totally open about who they are. There's been months of coding work done, from what I can see. They've made a commitment to being transparent. Have you been in this community long? Do you understand how rare that is? God forbid Satoshi Nakamoto ever tried to post anything substantial on here. Can you imagine the backlash? And you do understand more information is coming, right? You need to relax for two seconds and give them time to read through all this and answer your questions. I don't think they expected this much attention and they sure as hell didn't expect some lunatic ranting and raving about calling the SEC all day about a developing thread on Bitcointalk. Btw, I saw fontase pumping coins, so you should call that up too so they can shut down Twitter.

Basically.....

Fuck off pricks. Goldman Sachs involvement? What assholes. It will be fun watching this one die.


gutshot5820
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January 26, 2014, 12:10:32 AM
 #297

Silly meaningless passive inspirational quotes.  Full of sound and fury with absolutely no meaning.  Worthless in every way because you have a vested small time interest in making a profit.  If you lose a btc who cares right but 36 million as a whole community?  If you had that kind of money you would never invest 36 million into the coin unless there was proper due diligence, bond and the assurance that all regulatory laws were followed.  And yet out of your selfish greed to make a quick short buck you are advocating the entire bitcoin community to invest 36 total million dollars without oversight.  cockroach.

If you want the government to decide everything for you and protect every decision you make, go live in a mental asylum. Take some responsibility and do your own research. If you don't like the project, have the respect for others and dignity to leave and stop dirtying everything with disinformation. Every post you make is identical. We've told you a million times now that the $36m figure is a way off, but you refuse to listen. It's also been said numerous times that a prospectus will be released. This isn't equity, but you ignore that too.

+1

Actually, for me personally, the less people invest, the better. I want to see as little dilution of my investment as possible. The 36 million is a high market cap, and meant to allow as many people to participate as possible up to a point beyond which further investment would dilute investment without the organization being able to use it to bring the product to market and add more features any faster, reducing the rate of ROI.

My concern is that people like gutshot5820, who feel they are qualified to make decisions for the rest of us with their crap 20th century laws, which stifle innovation, and lock out small time investors from participating in seed rounds, while protecting established crony interests, will scare off the project from offering this opportunity to the public. Believe me, they don't have to - they already have plenty of qualified investment which would be SEC compliant. This almost happened with eMunie.

Again, please leave - not just this thread, but this forum.

More bullshit from you.  Now you are trying to fear monger people into thinking that all  government is bad and we should never obey the law because...who the fuk knows why?  Im not a big fan of government, but am I a fan of full disclosure and filing proper paperwork and bonds to insure that people don't get ripped off?  Hell yes.  Anyone who keeps repeating that government is bad bad bad because they dont want to file the correct paperwork and disclosures is obviously hiding something.  You are a cockroach, I read some of your previous posts and you obviously have an interest in ethereum being successful so you are willing to tell people that they are government lovers if they want transparency.  Frack you.
DieJohnny
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January 26, 2014, 12:10:57 AM
 #298

I am choosing to bookmark but not spend any more time on it for now. I am an average joe crypto lover and don't have the time or expertise to investigate or care about all of these features, checking into backgrounds, compare with other premined crap coins like ripple, nxt, or whatever.

If this coin has any potential at all, it will be worth investing in down the road as much as in the first week. I for one am choosing to be skeptical and not swayed by crypto founders, blockhain magic, or other wizardy.

Creating the platform with new features is one thing. Competing in the real world of hype, adoption, and social marketing with Bitcoin, Litecoin, and Dogecoin is a completely different beast. Especially, when every coin is based on ever changing software. The software is secondary to the marketing and socialization at this stage in the ballgame.


Those who hold and those who are without property have ever formed distinct interests in society
td services
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January 26, 2014, 12:13:37 AM
 #299

More bullshit from you.  Now you are trying to fear monger people into thinking that all  government is bad and we should never obey the law because...who the fuk knows why?  Im not a big fan of government, but am I a fan of full disclosure and filing proper paperwork and bonds to insure that people don't get ripped off?  Hell yes.  Anyone who keeps repeating that government is bad bad bad because they dont want to file the correct paperwork and disclosures is obviously hiding something.  You are a cockroach, I read some of your previous posts and you obviously have an interest in ethereum being successful so you are willing to tell people that they are government lovers if they want transparency.  Frack you.

It costs $800,000 in legal costs and filing fees to do an IPO. This money is much better used to fund development than to feed parasites.

Your content, vocabulary, and grammar all reveal an incredible lack of class.
gutshot5820
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January 26, 2014, 12:17:44 AM
 #300

More bullshit from you.  Now you are trying to fear monger people into thinking that all  government is bad and we should never obey the law because...who the fuk knows why?  Im not a big fan of government, but am I a fan of full disclosure and filing proper paperwork and bonds to insure that people don't get ripped off?  Hell yes.  Anyone who keeps repeating that government is bad bad bad because they dont want to file the correct paperwork and disclosures is obviously hiding something.  You are a cockroach, I read some of your previous posts and you obviously have an interest in ethereum being successful so you are willing to tell people that they are government lovers if they want transparency.  Frack you.

Your content, vocabulary, and grammar all reveal an incredible lack of class.
Your entire persona reveals the type of character that will sell their soul to make a quick buck.  You will obviously lie and accuse people of false accusations and use fear and ridicule to make your points.  I see right through your silly ploy and you are the type of guy that makes me want to vomit.

I'm sorry for my language but I have a hard time controlling my emotions when I meet people that are insincere and try to act like they are righteous  I have not said one word to you and you have obviously attacked me several times for no reason.  i don't know who you are and what you are and what the real purpose of your attacks are but please leave me alone.
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