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Author Topic: [ANN] Ethereum: Welcome to the Beginning  (Read 1056908 times)
Netnox
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January 27, 2014, 04:12:43 PM
 #521

Will this coin be cpu or gpu mined?
Should be both.

From what I understand gpu mining is not going to give you that much of an advantage over cpu.

So when will mining be possible? After feb 1st or after the fundraiser limit has been reached after 2 months?


I don't like this, they remind me to HSBC not allowing people to withdraw: "The fiduciary members will be vested over a 12 month period and cannot divest more than ⅓ of their position per year thereafter"

1. Mining is slated to start after the completion of 2 months from 1st Feb, so the earliest date is 1st April
2. You and I are not fiduciary members. Fiduciary members in this case are the 4 founders, early stakeholders and partners, not even those that receive remuneration/bounties in ETH for being part of the project.


Alright, you mentioned gpu not much advantage over cpu, but doesn't gpu have more hash rate thus more coins that will be mined?
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Herp
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January 27, 2014, 04:13:17 PM
 #522


With respect for the guy who used to work at Goldman Sachs, my first impression was "Good...GS doesn't hire idiots." I'd be happy if they had ex-NSA guys working on the cryptography, ex-Goldman Sachs or Chase guys working on the financial markets, ex-NYSE guys working on the automated exchanges...the key word in each case is "EX."

You should also probably remember that the ethereum guys were in Miami this weekend presenting to the heavy-hitters of the crypto world, which is likely why they haven't posted much in the last few days.

No one's saying Goldman hires idiots but they're not exactly big on caring for their clients either. They were well trained to skin the customers (sheep aka muppets) and make money for Goldman. http://www.theguardian.com/business/2012/oct/22/goldman-sachs-muppets-greg-smith-clients

p.s: Why you have such poor posting history? You've only started to post in this thread?


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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
[N]o borders
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msin
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January 27, 2014, 04:18:14 PM
 #523

There don't appear to be a lot of undecided people in this thread, so this post probably won't even get read, but here's what I think about the IPO:

Vitalik said they can make a go of it with only 500 BTC raised. If they raise more than that, they have plans on how they can use the money to further their ecosystem. However, there is absolutely no way they could ever spend more than 30,000 BTC, so they are capping the investment at that level.

There is a difference between asking for a certain amount of money ("This IPO needs to raise 500 BTC or we're calling it off") and CAPPING the amount of money that can be raised. Vitalik's target for the IPO is 500 BTC--which is $400,000 at today's exchange rate and implies a $600,000 market cap with the premine. Now if they raise more, they have plans on how they can spend it (bounties for a better PoW/PoS system, application writers to get a jump start on the ecosystem, etc.), but they don't actually need one penny more than the 500 BTC he has stated is a minimum.

With respect for the guy who used to work at Goldman Sachs, my first impression was "Good...GS doesn't hire idiots." I'd be happy if they had ex-NSA guys working on the cryptography, ex-Goldman Sachs or Chase guys working on the financial markets, ex-NYSE guys working on the automated exchanges...the key word in each case is "EX."

You should also probably remember that the ethereum guys were in Miami this weekend presenting to the heavy-hitters of the crypto world, which is likely why they haven't posted much in the last few days.

Only 500BTC, bless their hearts they can get by on such little money.  Wink
lonsharim
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January 27, 2014, 04:24:04 PM
 #524

Will this coin be cpu or gpu mined?
Should be both.

From what I understand gpu mining is not going to give you that much of an advantage over cpu.

So when will mining be possible? After feb 1st or after the fundraiser limit has been reached after 2 months?


I don't like this, they remind me to HSBC not allowing people to withdraw: "The fiduciary members will be vested over a 12 month period and cannot divest more than ⅓ of their position per year thereafter"

1. Mining is slated to start after the completion of 2 months from 1st Feb, so the earliest date is 1st April
2. You and I are not fiduciary members. Fiduciary members in this case are the 4 founders, early stakeholders and partners, not even those that receive remuneration/bounties in ETH for being part of the project.


Alright, you mentioned gpu not much advantage over cpu, but doesn't gpu have more hash rate thus more coins that will be mined?

http://wiki.ethereum.org/index.php/Dagger

I don't know how much a significant advantage gpu will give over cpu. The devs of this project want to ensure that mining hardware does not get centralized so that only people with deep pockets can invest in ASIC hardware. They predict that CPU mining will still be possible with this and specialized hardware will be impractical.


BTC: 1AjbC9dtUALixvUbMofPWxrW6XucEuYp7o
tifozi
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January 27, 2014, 04:24:41 PM
 #525

In for one  Grin
turtoro
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January 27, 2014, 04:27:51 PM
 #526

In for one  Grin

Theres been about 9 posters similar to this guy (newbie saying they are "in Grin") on this thread. This kind of marketing is not necessary. Lets have a more technical discussion please
KoinMaster
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January 27, 2014, 04:29:10 PM
 #527

In for one  Grin

Theres been about 9 posters similar to this guy (newbie saying they are "in Grin") on this thread. This kind of marketing is not necessary. Lets have a more technical discussion please

This is the classic pump strategy...
turtoro
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January 27, 2014, 04:33:57 PM
 #528

In for one  Grin

Theres been about 9 posters similar to this guy (newbie saying they are "in Grin") on this thread. This kind of marketing is not necessary. Lets have a more technical discussion please

This is the classic pump strategy...

relax. its just a mere irritant. dont go off the deep end and call it a p/d, all things considered its clearly not.
Chida
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January 27, 2014, 04:35:52 PM
 #529

Good luck

BTC: 12A5tZgivCa7BVF4YbQdtSedFzanpCbupb
MMC: MBayoLj9WEWTsCk8n45G37tDSSJP2Dd9k5
PTS: PiVUjNkwk6VKrKWCMtA7NkqFhfkqR5pnCS
Chris001
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January 27, 2014, 04:44:36 PM
 #530

If I have .1 BTC to invest, will I be able to invest that small of an amount?

NEM
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January 27, 2014, 04:48:05 PM
 #531

If I have .1 BTC to invest, will I be able to invest that small of an amount?

Yep

Lowest is 0.01 BTC

BTC: 1AjbC9dtUALixvUbMofPWxrW6XucEuYp7o
ddink7
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January 27, 2014, 04:56:03 PM
 #532

Lets have a more technical discussion please

I agree. I keep coming back to this thread *hoping* to see an actual discussion on the technical merits, challenges, and risks, but the trolls only want to talk about the IPO funding.

The good news about this thread is that it's helping me build my ignore list rather rapidly =)

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Herp
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January 27, 2014, 05:05:27 PM
 #533

Lets have a more technical discussion please

I agree. I keep coming back to this thread *hoping* to see an actual discussion on the technical merits, challenges, and risks, but the trolls only want to talk about the IPO funding.

The good news about this thread is that it's helping me build my ignore list rather rapidly =)

14 posts? Ffs. All in this thread? Did you make an account just for this thread? Who's the troll here?


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DECENT
FOUNDATION



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



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██
██
██
██
██
██
██
██

██
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[E]ncrypted & secure
[N]o borders
[T]imeless reputation



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nesco1805
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January 27, 2014, 05:08:02 PM
 #534

There don't appear to be a lot of undecided people in this thread, so this post probably won't even get read, but here's what I think about the IPO:

Vitalik said they can make a go of it with only 500 BTC raised. If they raise more than that, they have plans on how they can use the money to further their ecosystem. However, there is absolutely no way they could ever spend more than 30,000 BTC, so they are capping the investment at that level.

There is a difference between asking for a certain amount of money ("This IPO needs to raise 500 BTC or we're calling it off") and CAPPING the amount of money that can be raised. Vitalik's target for the IPO is 500 BTC--which is $400,000 at today's exchange rate and implies a $600,000 market cap with the premine. Now if they raise more, they have plans on how they can spend it (bounties for a better PoW/PoS system, application writers to get a jump start on the ecosystem, etc.), but they don't actually need one penny more than the 500 BTC he has stated is a minimum.

With respect for the guy who used to work at Goldman Sachs, my first impression was "Good...GS doesn't hire idiots." I'd be happy if they had ex-NSA guys working on the cryptography, ex-Goldman Sachs or Chase guys working on the financial markets, ex-NYSE guys working on the automated exchanges...the key word in each case is "EX."


No it's not. You've just made up the "EX" part.

Other than I completely agree with you - It is REALLY encouraging knowing that some non-idiots are working on 30,000 BTC project.
What more could we ask for!!!

Here everyone.
We have EX Goldman Sachs, non-idiot types. Give us all your money, you know it's all good.
Besides we also have 19yr genius, and you know in your heart that his motives are scientific and pure.

What better recommendations do you want?
Do you want to be left out when he finds holy crypto grail? OFC NOT

PS
[sorry for sarcasm, I know its not the best form]
ddink7
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January 27, 2014, 05:11:27 PM
 #535

Lets have a more technical discussion please

I agree. I keep coming back to this thread *hoping* to see an actual discussion on the technical merits, challenges, and risks, but the trolls only want to talk about the IPO funding.

The good news about this thread is that it's helping me build my ignore list rather rapidly =)

14 posts? Ffs. All in this thread? Did you make an account just for this thread? Who's the troll here?

This thread and the middlecoin thread are the only ones I'm interested in. /shrug

P.S. You HAVE heard of lurking, haven't you? I'm much more active over here: https://litecointalk.org/index.php?action=profile;area=showposts;u=19254

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tiaguitah
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January 27, 2014, 05:29:49 PM
 #536

This coin tries to do so much stuff at the same time.

This won't work well.

Ursium
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January 27, 2014, 06:10:50 PM
 #537

I've posted a little infogram about the fundraiser which might help understand it a bit better:

- http://www.ursium.com/ethereum-fundraiser-infogram/

Ethereum Twitter: @ethereumproject - Blog: blog.ethereum.org - Forum: forum.ethereum.org - Github: github.com/ethereum
nesco1805
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January 27, 2014, 06:34:45 PM
 #538

I've posted a little infogram about the fundraiser which might help understand it a bit better:

- http://www.ursium.com/ethereum-fundraiser-infogram/


There is this tiny-little thing you didn't mention there Wink

30,000 BTC that will be initially sent to a multisig exodus address controlled by the fiduciary members and then moved to a holding entity established in Canada that will be gradually converted into a decentralized autonomous organization run completely on the Ethereum blockchain within 24 months of the launch of Ethereum for mining

These fiduciary members controlling raised BTC assets, with no investment of their own that they haven't been already properly compensated for (0.225X),
are already running wild IMHO. And we haven't even started....
albertdros
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January 27, 2014, 06:46:21 PM
 #539

http://www.wired.com/wiredenterprise/2014/01/ethereum/?cid=co17648004

when can i pay money and when can i start mining?
organizer
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January 27, 2014, 07:09:28 PM
 #540

Lets have a more technical discussion please

I agree. I keep coming back to this thread *hoping* to see an actual discussion on the technical merits, challenges, and risks, but the trolls only want to talk about the IPO funding.

The good news about this thread is that it's helping me build my ignore list rather rapidly =)

There's some decent discussions on the Reddit thread... though it's starting to get run over by "IF I INVEST WHEN CAN I SELL" threads....

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