[ANN] Ethereum: Welcome to the Beginning

[1krona]

Will Ethereum ever be able to process more transactions, and what do you mean with that they are richer?

Yes, Ethereum will be able to process more transactions. Moore's law says that.
Ethereum has Turing-complete language and u can code anything using this language. In Nxt u r limited to what Nxt core devs allow u to do.

Alright that's really interesting,

What is the approximate transactions per second at launch, if it was launched today?

And what do you mean by that the transaction of Ethereum is richer than NXT, whats it's implications?  

[1714230265]

1714230265

[Come-from-Beyond]

Half this thread was hijacked by Nxt zealots. If I instigated this argument and someone just wanted some answers, then I'm sorry. It would just be nice to actually to talk about Nxt honestly for once. People don't understand the criticism of it, and the serious issues it has. But this is not the thread for it, so I'll can it.

I don't like zealots too. I hope this - https://bitcointalk.org/index.php?topic=345619.msg4821498#msg4821498 - will prove that I'm not one of them. Now back to Ethereum.

[tstang]

I only see TWO active people and a lot of passive Payrolls to pay the initial investor's money.

Maybe Raising 30,000 BTC is very easy nowadays compare to CoinBase USD 25 millions, which they have proper documentation and legal obligations and projections.

Or Maybe there are a lot of people with a lot of Bitcoin to throw.

Anyway, I would be interested to invest 0.1 BTC to raise up to 500 BTC for such noble project.

[Come-from-Beyond]

And what do you mean by that the transaction of Ethereum is richer than NXT, whats it's implications?  

http://ethereum.org/ answers ur question:

the only limit is your imagination

[_ingsoc]

As for the fundraiser, innovation requires fuel and thus we'll make sure we get to it as soon as we can as well. Our goal is to be as fair and equitable as possible.

I really hope you guys can figure out the legislative and logistical issues with the fundraiser. There has been a lot of confusion about contributions, and terms like "investing" and "IPO" further confuse people because they imply some traditional type of inherent value and equity, when in fact people are buying lines of code that happen to be Ether - we in turn assign value to that as a community. I think fundraising in this way become inherent to fueling future innovation, and nobody can argue with that, so I hope you can find a way that works. In the early stages, some people fund, some people mine, and some people buy after it's shown to be something real. If there's room for all of those, it gets as fair as you can get.

[Brilliantrocket]

I doubt that the Ethereum IPO will return even 1/10th of what Nxt did for its investors. If anything at all.

The dilution potential is huge. Set the cap at 5000 BTC and implement a max investment cap to allow many small investors.

[KoinMaster]

That's different Charles, I'm looking forward to seeing your responses! I even plan to invest in Ethereum, if our questions will be addressed openly and honestly and if the IPO/lauch/inflationary conditions will be changed to more fair terms for us investors.

I will try as hard as I can. Ethereum is not for everyone, but I think it brings both a wonderful set of innovations to this space and also a very attract value proposition to speculators. I hope you can enjoy one or both. Ultimately, we will be spending a lot of time communication our goals, vision and the core aspects of Ethereum to as many people as possible. The difficulty is that our infrastructure wasn't setup to receive 1,000s of emails, over a hundred pages of forum threads and all the other communications within a two week spread.

We were even in Wired http://www.wired.com/wiredenterprise/2014/01/ethereum/. I make a promise that we will work harder and hopefully get everything sorted out in a few weeks max. As for the fundraiser, innovation requires fuel and thus we'll make sure we get to it as soon as we can as well. Our goal is to be as fair and equitable as possible.

Thanks Charles for your answer. I personally find the idea behind Ethereum ingenius. I want to believe in it. Now I feel that we'll get answers to our concerns from the Ethereum team. I hope that Goldman Sachs is not involved. Without making a poll I suppose 80% of the forum members think that GS is responsible for lot of bad things in this world and we don't want a crpyto which GS has a finger in it.

[nextgencoin]

That's different Charles, I'm looking forward to seeing your responses! I even plan to invest in Ethereum, if our questions will be addressed openly and honestly and if the IPO/lauch/inflationary conditions will be changed to more fair terms for us investors.

I will try as hard as I can. Ethereum is not for everyone, but I think it brings both a wonderful set of innovations to this space and also a very attract value proposition to speculators. I hope you can enjoy one or both. Ultimately, we will be spending a lot of time communication our goals, vision and the core aspects of Ethereum to as many people as possible. The difficulty is that our infrastructure wasn't setup to receive 1,000s of emails, over a hundred pages of forum threads and all the other communications within a two week spread.

We were even in Wired http://www.wired.com/wiredenterprise/2014/01/ethereum/. I make a promise that we will work harder and hopefully get everything sorted out in a few weeks max. As for the fundraiser, innovation requires fuel and thus we'll make sure we get to it as soon as we can as well. Our goal is to be as fair and equitable as possible.

Thanks Charles for your answer. I personally find the idea behind Ethereum ingenius. I want to believe in it. Now I feel that we'll get answers to our concerns from the Ethereum team. I hope that Goldman Sachs is not involved. Without making a poll I suppose 80% of the forum members think that GS is responsible for lot of bad things in this world and we don't want a crpyto which GS has a finger in it.

So you'll be happier and compliant once you can hear a slick employed PR mouth piece to make all your concerns seem silly. Some people deserve what they get IMO...

[_ingsoc]

So you'll be happier and compliant once you can hear a slick employed PR mouth piece to make all your concerns seem silly. Some people deserve what they get IMO...

Okay, how about this. You now have the stage. Tell the Ethereum people exactly how they should do this. Statements like that need to accompany a solution or they're useless noise.

[ddink7]

I doubt that the Ethereum IPO will return even 1/10th of what Nxt did for its investors. If anything at all.

The dilution potential is huge. Set the cap at 5000 BTC and implement a max investment cap to allow many small investors.

Last I looked, NXT returned an 1800x profit to its investors. I'd be happy with a "measly" 180x return from Ethereum =)

[Come-from-Beyond]

Last I looked, NXT returned an 1800x profit to its investors. I'd be happy with a "measly" 180x return from Ethereum =)

I will agree for 180x loss if this makes the world better.

Don't laugh at me, I'm a communist, not a capitalist like most of u.

[_ingsoc]

Don't laugh at me, I'm a communist, not a capitalist like most of u.

That explains my intrinsic desire to fight your words with my words.

[nesco1805]

Thanks Charles for your answer. I personally find the idea behind Ethereum ingenius. I want to believe in it. Now I feel that we'll get answers to our concerns from the Ethereum team. I hope that Goldman Sachs is not involved. Without making a poll I suppose 80% of the forum members think that GS is responsible for lot of bad things in this world and we don't want a crpyto which GS has a finger in it.

So you'll be happier and compliant once you can hear a slick employed PR mouth piece to make all your concerns seem silly. Some people deserve what they get IMO...

That is basically what most of so called critics have said:

I want to believe. Why are you not speaking to us? Throw me a bone. Just tell me what I want to hear, and I'll gladly throw my money in.

Which is not only pathetic, but fully deserved. Every satoshi they lose will be well invested not only in their education, but that of an entire community.
And I'm not saying investors will lose money, just that I will pray that they lose(same like I prayed with NEON).

In my opinion that would be the best overall outcome of this whole matter.

[kvb]

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.  

Hi Charles,

Excellent and sensible move with the delay. That will give a time for a breath for everyone because the rapid time schedule was a press for many.

Keep up with the excellent and constructive attitude. The spirit of cooperation is one of the highest values and will lead to a major success and easier solution to different issues.

I'm as a quality engineer can recommend the following approach:
"Doing the Right thing, Right, Right the First Time"
It's the most effective and straightforward way to achieve any goals with minimum time, energy, money and effort.

Things should be done from the start in the Right manner because you never may have the time or opportunity to fix them later, you never know. This is why unjustified haste leads to errors and waste of time, money, reputation. This should be avoided as much as possible.

What do you think about improving the decision making process to include the community in a more direct way? Some kind of system for voting on proposals and maybe a road-map with milestones? that way it's managed more democratically and the level of participation will definitely improve considerably, benefiting everyone involved.

May the Ether bless us! In Ether we Trust!     

[pand70]

I want to believe. Why are you not speaking to us? Throw me a bone. Just tell me what I want to hear, and I'll gladly throw my money in.

This pretty much sums up the last 44 pages. Checkpoint.

[frga13]

This pretty much sums up the last 44 pages. Checkpoint.

true
moderator, now you can lock this thread 

[CoinHeavy]

Does anyone know if there are official plans for things like a ruby gem or a python library?  Allowing contracts to easily integrate with existing web applications seems like the best way to encourage adoption.  The more developers who can understand/test/validate contract code the better.

[majik]

For the non-techie among us, would I be able to install alpha release of the testnet client on my Win 8? Some guidance would be helpful.  What does all this mean? "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."

[kvb]

For the non-techie among us, would I be able to install alpha release of the testnet client on my Win 8? Some guidance would be helpful.  What does all this mean? "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."

see if this helps..
http://dr-pra.tumblr.com/post/73526554416/build-and-run-the-ethereum-go-client-on-windows

[LeoC]

Has anyone addressed the security of having a Turing complete foundation? Turing complete means that Ethereum contracts will likely be absolutely loaded with common and proprietary viruses, keyloggers, malware, adware, and a slew of other bad things. I am willing to bet my bank account that in a few short months people will be crying about how they got all their wallets/currency stolen, or their computers are now running slow, or how they blue screen every few minutes after a reboot.

If you want an example of how Turing complete works, load up a peer to peer sharing program and download a bunch of .MOV files and run them. I GUARANTEE that you will get a virus. That's because Quicktime movie files are Turing complete. This is why mkv, mpeg, mpg and avi, while not impervious, are much much safer to download. If you want to invest, mine, and run contracts at the risk of losing everything then go ahead. We will never know for sure how secure Ether is going to be until post release, so asking for money without proof of security is another red flag.