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Author Topic: [ANN] Ethereum: Welcome to the Beginning  (Read 1584815 times)
tk808
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January 26, 2014, 09:47:18 PM
 #401

I forbid anyone to invest in this bullshit. ETH is 1 step above from being a heist.

Invest in your knowledge, not other people's hookers.
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luffy
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January 26, 2014, 09:49:07 PM
 #402

this is more like mastercoin. MSC doesn't have a wallet yet, 7 months later. as the first "coin" of its kind only few people trusted it
to invest into. i don't know yet where it is going, but i am sure those kind of coins will have great future. i'll give them 1-2 years to prove
them self Wink
i expect more people with more "coins" like this
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January 26, 2014, 09:53:28 PM
 #403

I had a longer reply written up...but you know what it slowly became an angry post so I'll start simple...

I read your whitepaper, I've followed the news, I planned on investing...

So someone please explain to me, why a startup with no demo, beta, product, requires 30 million dollars (30000 btc) and 50% of the currency?

Its a currency, not a product, but sure...lets call it a product. Google didn't ask you for 30 million dollars and say you can only use our search engine 50% of the time or you only get every other result for your searches?

...30000 btc which can be ALOT more than 30 million dollars even by the time they launch (if we're following the overall trend) AND 50% of all coins owned?

Common people...

The money is for devs and the team?

Well this is my informal application....I'm a soft eng.... I'd like to become an insta millionaire please? even before we have a product.

Guys we're NOT doing this for the profit we just believe so much in what we're making. ( I hope I get hired)

it seems some people underestimate the project size and real goals ethereum is after for.
this is not a currency, looking at it as it if were, gives a wrong perpective what is going
on here. ethereum tries to built a global, decentralized financial grid layer, populated by
semi autonomous code-reactors, hibernating within the blockchain until wakeup and acting as
more or less maintenance free financial servants when feeded with the appropiate value.
and you wonder why some old school entities are more than interested in this tech?
the first mover, able to access a global finance api (boiled down to what it is) gains
huge profit margins. a 30m usd invest is nothing compared to those margins but this tech
raises some other important questions, besides the pure tech ones.

as a nxt deveopler i am working on a similar approach but with a focus on decentralized
applications and there is a good change nxt will run the first usefull prototype within
the blockchain in a couple of weeks. but as mentioned above, applications should serve
all users, not only entities with the biggest pocket, again leading into islands of
centralization within a dezentralized meta-structure. this makes no sense.

the concept for sure is very interesting. i don't intend to invest but watching
this tech attentive, because it is clear the way to go, at least from my pov.


Congratulations...You efficiently and sufficiently answered my question as to why they need 30000 btc and 50% of the product. Good job Smiley -- Sorry...33.3%

Minexcoin — A new era of payments  || ICO || DISCUSSION
Alientech
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January 26, 2014, 10:00:59 PM
 #404

One after the other (Mike Hearn, Vitalik etc) the Bitcoin cartelists join the state, what a surprise!
They need to make real money their big BTC portfolios and SR was never an option for them, go figure..

Miners, early adopters and big investors - the three big cartels in Bitcoin world.

Aye…coinvalidation team, mike hearn and all state friendlies should team up..Make no mistake the draconian status quo which favors the elite and oppress the poor, exist to control and will do all they can to co-opt, kill or adulterate innovative financial technology that snatches power away from their claws…it would be a terrible state of affairs if the people: users, business end up handing control back in the hands of oppressors to create an even worse oppressive and exclusive financial system through the likes of coinvalidation.
SyRenity
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January 26, 2014, 10:03:23 PM
 #405

There was NO valuation prior to the Genesis Block.

Once the NXT's distributed, they were immediately traded on 1BTC / 1M rates, with a x47 multiplier for these who invested 1 BTC, that just kept pushing the price further within a very short amount of time, without any actual innovative features provided by Nxt.

Here at least we have a predictable ROI for everyone.
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January 26, 2014, 10:23:42 PM
 #406

There was NO valuation prior to the Genesis Block.

Once the NXT's distributed, they were immediately traded on 1BTC / 1M rates, with a x47 multiplier for these who invested 1 BTC, that just kept pushing the price further within a very short amount of time, without any actual innovative features provided by Nxt.

Here at least we have a predictable ROI for everyone.

How can there be a multiplier if there was NO prior valuation?  0.000001 NXT/BTC was the first market rate.

When NXT was first offered for sale at a price for .000001 BTC, the cost of goods sold was 0.000000021 BTC/NXT. This is a 4762% markup over the original purchase price. The fact that no price per NXT was announced during the pre-sale has no bearing on what the original cost was of what was being resold.
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January 26, 2014, 10:28:35 PM
 #407

There was NO valuation prior to the Genesis Block.

Once the NXT's distributed, they were immediately traded on 1BTC / 1M rates, with a x47 multiplier for these who invested 1 BTC, that just kept pushing the price further within a very short amount of time, without any actual innovative features provided by Nxt.

Here at least we have a predictable ROI for everyone.

How can there be a multiplier if there was NO prior valuation?  0.000001 NXT/BTC was the first market rate.

When NXT was first offered for sale at a price for .000001 BTC, the cost of goods sold was 0.000000021 BTC/NXT. This is a 4762% markup over the original purchase price. The fact that no price per NXT was announced during the pre-sale has no bearing on what the original cost was of what was being resold.

+1, exactly what I was about to say.

This valuation jump (caused by artificial shortage, created by the abrupt fundraiser ending) is exactly what caused every investor and his dog to be in panic they are missing "the next BTC" train, and subsequently driven the the valuations to where we see them at this point, without any actual tangible proof of value up to this very moment, and without any clear indication how it will hold once Ethereum or any other competing platform enters the market.
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January 26, 2014, 10:29:00 PM
 #408

Can we keep on topic please?
SyRenity
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January 26, 2014, 10:31:51 PM
 #409

Can we keep on topic please?

Sure, I just personally find it funny how so many NXT holders keep attacking any potential competition, by making example of their own "ideal" IPO every time.
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January 26, 2014, 10:57:13 PM
 #410

Good to have a concrete date, price per unit still feels high intuitively but we'll see.

NL/EN Translator. Will work for crypto.
NXT:13307336450726014831
td services
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January 26, 2014, 10:58:06 PM
 #411

There was NO valuation prior to the Genesis Block.

Once the NXT's distributed, they were immediately traded on 1BTC / 1M rates, with a x47 multiplier for these who invested 1 BTC, that just kept pushing the price further within a very short amount of time, without any actual innovative features provided by Nxt.

Here at least we have a predictable ROI for everyone.

How can there be a multiplier if there was NO prior valuation?  0.000001 NXT/BTC was the first market rate.

When NXT was first offered for sale at a price for .000001 BTC, the cost of goods sold was 0.000000021 BTC/NXT. This is a 4762% markup over the original purchase price. The fact that no price per NXT was announced during the pre-sale has no bearing on what the original cost was of what was being resold.

+1, exactly what I was about to say.

This valuation jump (caused by artificial shortage, created by the abrupt fundraiser ending) is exactly what caused every investor and his dog to be in panic they are missing "the next BTC" train, and subsequently driven the the valuations to where we see them at this point, without any actual tangible proof of value up to this very moment, and without any clear indication it will hold once Ethereum or any other competing platform enters the market.

The donations dropped off and most people were calling scam. Lets assume it went till Jan 3rd a few more dozen people decided to throw some btc in. The results would have been the EXACT SAME. 150 people might as well be 73. The difference is, Nxt would be 2 months behind on development, promotion, community building, etc. It's a null argument. And really all of this is based on hindsight. Clearly we can see NOW that Nxt is worth something. At the time there was no way to tell if it was a scam, if it would end at one new feature, if the proposed features would be fatally broken or dysfunctional. It just so happens that its doing everything right and everybody wants a piece. It's just a completely fallacious argument that you're making.

So if they wanted to end early, why not make an announcement that the presale will be ending early, so if anyone wants to invest, they need to do so by the specified new deadline, a day or two later, maybe? There was no reason to abruptly end the sale with no advance warning, other than they wanted to make sure that no new investment would come in to dilute existing positions.

Sorry if this seems off-topic in this thread, but as SyRenity points out, NXT keeps being promoted as an example distribution where everyone who wanted to was allowed to invest in the pre-sale, while complaining about Ethereum and Mastercoin, and this is clearly not the case based on evidence existing in the forums.

It highlights the importance of clearly stating the terms of an offering and either sticking to those terms or giving plenty of advance warning if changes are to be made.
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January 26, 2014, 11:32:01 PM
 #412

I'd kinda dropped the issue because it doesn't really matter to current NXT investors whether or not I was included in the presale, other than it may reflect on the character of the founders on how it was handled. It is really in my best interests for money to stay in or flow to NXT instead of going into Ethereum, where it would dilute my planned investment. Other than the way the presale was handled, NXT seems like a good investment. It just pushes my hot button, though, when the NXT presale issue comes up in these other threads.
BittBurger
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January 27, 2014, 12:21:46 AM
 #413

Any comments from the Miami Conference Ethereum unveiling?

-B-

Bitcoin's true purpose defined in Satoshi's message on the Genesis Block:
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"
View it on the Blockchain | Genesis Block Newspaper Copies
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January 27, 2014, 12:37:38 AM
 #414

I'm gonna ask a very simple question here.

If I get into this IPO on 1st week, how long do I have to wait until I'll be able to sell this on some exchange?


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BitcoinStacker
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January 27, 2014, 12:47:33 AM
 #415

This is awsome!!!!!!!

Donate if I helped you BTC: 1GF3X5rkLZEYX6GkTrJzhEC6DkKgUVwNce
ThePatient
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January 27, 2014, 12:50:50 AM
 #416

I'm gonna ask a very simple question here.

If I get into this IPO on 1st week, how long do I have to wait until I'll be able to sell this on some exchange?

Investors shares aren't timelocked at all. So I'm assuming that as soon as an exchange accepts them, you can sell them
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January 27, 2014, 12:56:58 AM
 #417

I'm gonna ask a very simple question here.

If I get into this IPO on 1st week, how long do I have to wait until I'll be able to sell this on some exchange?

Investors shares aren't timelocked at all. So I'm assuming that as soon as an exchange accepts them, you can sell them

Mastercoins had to wait quite a while for an exchange to become available due to implementation difficulties because of the nature of the beast.

I assume we can expect same thing to happen with Ethereum, which means months of high risk forum trading only.


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DECENT
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[D]ecentralized application
[E]liminated third parties
[C]ontent distribution



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[E]ncrypted & secure
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KJO
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January 27, 2014, 01:01:49 AM
 #418

F the reptilians.
Chang Hum
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January 27, 2014, 01:13:03 AM
 #419

disgusting!! Embarrassed
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January 27, 2014, 02:29:35 AM
 #420

I'd kinda dropped the issue because it doesn't really matter to current NXT investors whether or not I was included in the presale, other than it may reflect on the character of the founders on how it was handled. It is really in my best interests for money to stay in or flow to NXT instead of going into Ethereum, where it would dilute my planned investment. Other than the way the presale was handled, NXT seems like a good investment. It just pushes my hot button, though, when the NXT presale issue comes up in these other threads.

Everyone's going to invest in Ether and everyone will have a miniscule share. 
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