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Author Topic: [ANN] Ethereum: Welcome to the Beginning  (Read 1584800 times)
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January 29, 2014, 06:10:42 PM
 #781

many people in the thread saying ipo scam, wait to buy coins after-market. during ipo phase 1btc = 2000 ether. how much do you think an ether will be after market?

if btc = $800, that means 1 ether = 40 cents. do you think they will be more or less than 40 cents after market? of all the coins on coinmarketcap 22 are greater than 40 cents.

This isn't the point. The point is the valuation or the market cap. here they aim to raise based on a 24M valuation post money. It can be with a million or a billion coins. doesnt matter. it can also be 5 cent after the IPO and still a good $3M valuation which what I would give in a normal world for a pre-seed concept with good management
Yes, the real issue is the valuation of the company and the dilution of the said share at 40% per year (forever).

At 40% inflation per year, I don't see how this could possibly be a good investment.
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January 29, 2014, 06:48:02 PM
 #782

many people in the thread saying ipo scam, wait to buy coins after-market. during ipo phase 1btc = 2000 ether. how much do you think an ether will be after market?

if btc = $800, that means 1 ether = 40 cents. do you think they will be more or less than 40 cents after market? of all the coins on coinmarketcap 22 are greater than 40 cents.

This isn't the point. The point is the valuation or the market cap. here they aim to raise based on a 24M valuation post money. It can be with a million or a billion coins. doesnt matter. it can also be 5 cent after the IPO and still a good $3M valuation which what I would give in a normal world for a pre-seed concept with good management
Yes, the real issue is the valuation of the company and the dilution of the said share at 40% per year (forever).

At 40% inflation per year, I don't see how this could possibly be a good investment.

It's not 40% per year. Where X = initial ether raised through crowdfunding;

Initial supply = 1.5X
0.4X will be mined each year.

Ether in existence at the end of:
Year 1 = 1.9X
Year 2 = 2.3X
Year 3 = 2.7X
Year 4 = 3.1X
Year 5 = 3.5X

For an inflation rate of 26% in Year 1, 21% in Year 2, 17% in Year 3, 14% in Year 4, and 12% in Year 5

Dash - Digital Cash
https://www.dash.org/
_ingsoc
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January 29, 2014, 06:56:00 PM
 #783

Fundraiser is being pushed back: http://blog.ethereum.org/?p=100/conference-testnet-and-fundraiser-updates

KoinMaster
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January 29, 2014, 06:57:31 PM
 #784

They changed the headline on their webseite to "testnet release in....." This means IPO cancelled?

http://www.ethereum.org/


 
 
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_ingsoc
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January 29, 2014, 06:58:39 PM
 #785

They changed the headline on their webseite to "testnet release in....." This means IPO cancelled?

http://www.ethereum.org/

Not cancelled. Pushed back it appears. See my post.



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January 29, 2014, 07:03:31 PM
 #786

Good.

Don't know if they'll change any terms. I wonder how long until we hear about the new fundraiser?

KoinMaster
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January 29, 2014, 07:04:02 PM
 #787

Very good news, indeed!
 
I'd have been very disappointed with Vitalik, had he pushed through with the IPO & launch under this terms. He would have destroyed his reputation, IMO....


 
 
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_ingsoc
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January 29, 2014, 07:09:51 PM
 #788

Very good news, indeed!
 
I'd have been very disappointed with Vitalik, if he'd have pushed through with the IPO & launch under this terms. He'd have lost his reputation, IMO....

Let's see what happens. There might be no changes to the structure. It could be a case of not being ready server-side, hence "logistical" issues.

KoinMaster
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January 29, 2014, 07:12:30 PM
 #789

Very good news, indeed!
 
I'd have been very disappointed with Vitalik, if he'd have pushed through with the IPO & launch under this terms. He'd have lost his reputation, IMO....

Let's see what happens. There might be no changes to the structure. It could be a case of not being ready server-side, hence "logistical" issues.

Hope not.... For Vitalik is his reputation and future in the crypto-currency world at stake. He won't dare to risk such an uproar from the community again, IMO....


 
 
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January 29, 2014, 07:15:03 PM
 #790

Hey gutshot5820, looking forward to your usual informed, unbiased, factual, and neutral response to the developments... Roll Eyes
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January 29, 2014, 07:22:03 PM
 #791

Awesome! Really good news.

Now if we can just get a dev in here answering some of the questions posted..

Also, I'm really looking forward to seeing vitalik's presentation video. I wonder when it will be up. I'm surprised it isn't already, tbh. I would have figured someone with a smartphone would have uploaded to youtube.
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January 29, 2014, 07:23:17 PM
 #792

Hope not.... For Vitalik is his reputation and future in the crypto-currency world at stake. He won't dare to risk such an uproar from the community again, IMO....

Maybe you're right. It becomes very difficult to please everyone when you have a long-term perspective.

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January 29, 2014, 07:24:16 PM
 #793

Awesome! Really good news.

Now if we can just get a dev in here answering some of the questions posted..

Also, I'm really looking forward to seeing vitalik's presentation video. I wonder when it will be up. I'm surprised it isn't already, tbh. I would have figured someone with a smartphone would have uploaded to youtube.

Vitaly has been posting on reddit
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January 29, 2014, 07:33:34 PM
 #794

Conference, Alpha Testnet and Fundraiser Updates

January 29, 2014 - By Team

Ethereum received an incredible response at the Miami Bitcoin Conference. We traveled there anticipating many technical questions as well as a philosophical discussion about the purpose of Ethereum; however, the overwhelming amount of interest and enthusiasm for the project was much larger than we had anticipated. Vitalik’s presentation was met with both a standing ovation and a question queue that took hours to address.

Because we intend on providing an equal opportunity to all those who want to be involved, and are reviewing the relevant logistical and regulatory issues for a fundraiser of this scale, we have decided to postpone the Feb 1 launch of the fundraiser. We will make the announcement of the new fundraiser launch date on our official website: Ethereum.org.

The Ethereum project is also excited to announce the alpha release of the open source testnet client to the community at the beginning of February. This will give people an opportunity to get involved with the project and experiment with Ethereum scripts and contracts, and gain a better understanding of the technical properties of the Ethereum platform. Launching the testnet at this date will give those interested in the fundraiser a chance to better understand what the Ethereum project is about before participating.

The testnet will include full support for sending and receiving transactions, the initial version of the scripting language as described in our whitepaper, and may or may not include mining. This will also be the first major cryptocurrency project to have two official clients released at the same time, with one written in C++ and the other in Go; a Python client is also in the works. A compiler from the Ethereum CLL to Ethereum script will be released very soon.

A note on security

The fundraiser will NOT be launching on February 1st and any attempt to collect funds at this time should be considered a scam. There have been some scams in the forums thus please use caution and only consider information posted on Ethereum.org to be legitimate. It is important to reinforce to all that only information released and posted at Ethereum.org should be trusted as many are likely to impersonate us.

Argumentum ad lunam: the fallacy that because Bitcoin's price is rising really fast the currency must be a speculative bubble and/or Ponzi scheme.
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January 29, 2014, 07:33:42 PM
 #795

Can someone post straightforward pro's and con's of Ethereum against Bitcoin & NXT.

If you're using technical terminology, please try and explain in layman's terms.

I would really appreciate that, thanks!
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January 29, 2014, 07:42:44 PM
 #796

Can someone post straightforward pro's and con's of Ethereum against Bitcoin & NXT.

If you're using technical terminology, please try and explain in layman's terms.

I would really appreciate that, thanks!

Bitcoin... Really just a currency/commodity and proof of concept of distributed ledger. Lots of electricity to maintain security.

NXT... 100% distributed already to early adopters... 100% Proof-of-stake... Promises additional features in protocol

Ethereum... a full development platform that doesn't exist yet and has been delayed indefinitely

If you're interested in Ethereum, you may be curious about Mastercoin, which is a development layer built atop Bitcoin.
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January 29, 2014, 07:43:10 PM
 #797

Conference, Alpha Testnet and Fundraiser Updates

January 29, 2014 - By Team

Ethereum received an incredible response at the Miami Bitcoin Conference. We traveled there anticipating many technical questions as well as a philosophical discussion about the purpose of Ethereum; however, the overwhelming amount of interest and enthusiasm for the project was much larger than we had anticipated. Vitalik’s presentation was met with both a standing ovation and a question queue that took hours to address.

Because we intend on providing an equal opportunity to all those who want to be involved, and are reviewing the relevant logistical and regulatory issues for a fundraiser of this scale, we have decided to postpone the Feb 1 launch of the fundraiser. We will make the announcement of the new fundraiser launch date on our official website: Ethereum.org.

The Ethereum project is also excited to announce the alpha release of the open source testnet client to the community at the beginning of February. This will give people an opportunity to get involved with the project and experiment with Ethereum scripts and contracts, and gain a better understanding of the technical properties of the Ethereum platform. Launching the testnet at this date will give those interested in the fundraiser a chance to better understand what the Ethereum project is about before participating.

The testnet will include full support for sending and receiving transactions, the initial version of the scripting language as described in our whitepaper, and may or may not include mining. This will also be the first major cryptocurrency project to have two official clients released at the same time, with one written in C++ and the other in Go; a Python client is also in the works. A compiler from the Ethereum CLL to Ethereum script will be released very soon.

A note on security

The fundraiser will NOT be launching on February 1st and any attempt to collect funds at this time should be considered a scam. There have been some scams in the forums thus please use caution and only consider information posted on Ethereum.org to be legitimate. It is important to reinforce to all that only information released and posted at Ethereum.org should be trusted as many are likely to impersonate us.

Hi Vitalik, community questions remain unanswered?....


 
 
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_ingsoc
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January 29, 2014, 07:43:23 PM
 #798

Conference, Alpha Testnet and Fundraiser Updates

January 29, 2014 - By Team

Ethereum received an incredible response at the Miami Bitcoin Conference. We traveled there anticipating many technical questions as well as a philosophical discussion about the purpose of Ethereum; however, the overwhelming amount of interest and enthusiasm for the project was much larger than we had anticipated. Vitalik’s presentation was met with both a standing ovation and a question queue that took hours to address.

Because we intend on providing an equal opportunity to all those who want to be involved, and are reviewing the relevant logistical and regulatory issues for a fundraiser of this scale, we have decided to postpone the Feb 1 launch of the fundraiser. We will make the announcement of the new fundraiser launch date on our official website: Ethereum.org.

The Ethereum project is also excited to announce the alpha release of the open source testnet client to the community at the beginning of February. This will give people an opportunity to get involved with the project and experiment with Ethereum scripts and contracts, and gain a better understanding of the technical properties of the Ethereum platform. Launching the testnet at this date will give those interested in the fundraiser a chance to better understand what the Ethereum project is about before participating.

The testnet will include full support for sending and receiving transactions, the initial version of the scripting language as described in our whitepaper, and may or may not include mining. This will also be the first major cryptocurrency project to have two official clients released at the same time, with one written in C++ and the other in Go; a Python client is also in the works. A compiler from the Ethereum CLL to Ethereum script will be released very soon.

A note on security

The fundraiser will NOT be launching on February 1st and any attempt to collect funds at this time should be considered a scam. There have been some scams in the forums thus please use caution and only consider information posted on Ethereum.org to be legitimate. It is important to reinforce to all that only information released and posted at Ethereum.org should be trusted as many are likely to impersonate us.

Thank you for posting that here as well, in case people miss it. We've maintained a list of community questions in post #634. Is it possible to get some direct answers on these at one point? I think it covers most of the concerns people have here.

Come-from-Beyond
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January 29, 2014, 07:44:57 PM
 #799

Can someone post straightforward pro's and con's of Ethereum against Bitcoin & NXT.

If you're using technical terminology, please try and explain in layman's terms.

I would really appreciate that, thanks!

I can compare only Nxt and Ethereum:

1. Nxt is simple (for casual programmers), Ethereum is hardcore (for hardcore programmers). I think most of coders will choose Nxt if noone creates a simple Ethereum Contract Creation Kit.
2. Nxt can process 1000s transactions per second (coz of absence of scripts and Transparent Forging), Ethereum can't process too many transactions but they r much richer. I think these platforms would go on par if Nxt didn't have Transparent Forging. With TF Nxt will win.
3. Nxt has fixed supply of coins, Ethereum will be inflationary for a long period of time. Ordinary people prefer non-inflationary currencies.
4. Nxt is 100% PoS, Ethereum is PoW + PoS, so the latter is not so "green".

These r just a few points that came to my mind.
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January 29, 2014, 07:52:44 PM
 #800

Quote
Thank you for posting that here as well, in case people miss it. We've maintained a list of community questions in post #634. Is it possible to get some direct answers on these at one point? I think it covers most of the concerns people have here.

We've done two things. First, we have hired a director of communications to help address as many questions as possible and he will be coming online as soon as possible (most likely Friday). Second, we are going to hold some form of AMA and build a complete FAQ.

Vitalik and I will also be trying to do some sort of regular Q&A session to fully address everyone's concerns. I'm really sorry for the delays in communication. Most of the team was in Miami and we were hit so hard down there with work it was nearly impossible to regularly check things here.

The best part about the bitcoin community is that they are very smart and have great ideas. I really do value a lot of the feedback we've received here and I make a promise we'll answer as much as we can as soon as we can. This said, it will take some time as the queue is really long, but hopefully we can at least address a lot of the core questions within the next week or so.

We are also releasing the centralized proof of concept testnet on Feb 1st and making an announcement about how we plan to better engage the cryptocurrency community on Feb. 20th or so. Please check out the code, look at the protocol specs, the high level language and the compiler we have, and write some contracts. Costa and co are building a full clearinghouse on top of the testnet.

Anyway, thanks everyone for your enormous patience and I look forward to hearing from you all soon.  

The revolution begins with the mind and ends with the heart. Knowledge for all, accessible to all and shared by all
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