[ANN] Ethereum: Welcome to the Beginning

[GigaCoin]

What am I missing here? All I'm seeing is a bunch of smart guys that have figured out a new technology to sell people on investing in their computer generated monopoly money printing technology.  As a trader of coins, I keep hearing every avid tech guy on chats and message boards tout their technology.  You know what?  Nobody gives a shit outside of the programming tech nerds.  We only care if it will make us money in the short term.  All these coins have a short life span outside of Bitcoin.  You know what is most important to people who will actually use these coins?  Anonymity and Liquidity, Liquidity, Liquidity.  You can take all the tech of the ten thousand different coins and none of them will be worth anything if you can't buy ten million and cash out ten million in a day.  But somehow this coin is worth 36 million in pre-sale along with salaries and 50% pre-mine?  Frack that, there are new coins that return 20x investments in a day with decent dev support out every other day, this one will be no different.

And who are all these guys that are interested in this coin and the underlying technology?  I'm sure if I read through it thoroughly, I will be impressed with the tech, but c'mon this is just another specially designed coin to make the founders rich with no risk.  Will I trade the coin if it does well initially? Yes, but I will dump it as soon as it reaches its peak , just like every other coin not named bitcoin does eventually.  Trading this coin is probably smart, but fracking dumping 36 million plus 50% premine into their laps from day one is just dumb.  There are plenty of coins with great dev support that don't ask/beg people disguised as an IPO (LMAO) for their money for a new tech coin.  I don't care if Obama designed the coin, it's just idiotic to hand over 36 million and 50% pre-mine to a bunch of strangers just because they have a new tech coin.  Coins are worth something because they are liquid and can be transferred from one person to another.  This, my tech is better than your tech is a war being fought by tech nerds trying to make money off of people while crypto coins are hot.  In three years the coin fad may be over and all these altcoins with superior tech will all be gone.  

I can accept a few million IPO and a small percentage pre-mine but 36 million and 50% pre-mine?  They are just beating everybody with a stupid stick and trying to get rich without any risk.  How about a change of pace and they personally invest 36 million of their own money and then take 50% of the pre-mine at least they would have some skin in the game.  THey want to get rich before the coin even starts and trying to disguise the greed as an IPO.  Trade and invest in the coin, but frackin don't give your goddamn money away just because they say so.

It's free markets at work, it's either you make the most of it or you don't  

Some win, some loose, maybe Ethereum will tank who knows, but what matters is we're witnessing the birth of incredible ideas and technology that are changing the world and will change the way we look at finance, assets & contracts. And i think it's fucking awesome that we are all here being part of this revolution (and hopefully making some decent money along the way)

Have at it then, I'm sure you will be selling your house and cashing out your retirement to give these guys money that they never had just because they say so.  With 36 million and 50% stock options we could invest in a venture capital company that is regulated by US laws that could start-up 20 of these coins with full devs and office and equipment and salary and have money left over to buy a condo and a Mercedes for every employee.  It's great that we are all part of this revolution that you are talking about, but here in the real world 36 million and 50% is real money.  How many total man hours are each of these principal owners putting into the coin? One or two months tops in their spare time?  Revolution and changing the world is great, I hear you, but do people have to get swindled and ass-fracked along the way?

no one is selling their homes to buy Ethereum, too bad you missed the point. Free markets will decide if this is overvalued or not, if it is then the price will tank on launch if it really turns out worth the $36Mill then investors will be rewarded handsomely. It's up to the individual to due their own due diligence, if you think this won't go anywhere and they are asking for more than it's worth then don't invest simple as that.

[1713472224]

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[gutshot5820]

Why crowdfunding startups could get ugly
Venture capitalism is about to go mainstream. But while online fundraising could be a gold mine for startups, experts warn of risks to average investors.
http://money.msn.com/technology-investment/post--why-crowdfunding-startups-could-get-ugly

Exactly why they are trying to crowdsource this instead of taking it to an investment banker.  Can you imagine what the prospectus would look like?  LOL, the financials would be hilarious.  So where does the 36 million go?  Ummm..oh well new houses cars, bank accounts, trips to LA Vegas. How much are you working to account for this bonanza?  Um total hours?  So far...like 72 hours but I promise to do more.  There is no venture capital company or investment bank in the world that would take this as an investment of even a hundred thousand dollars.  So what do you do if you want to get rich quick?  Take it to joe public and capitalize on the Bitcoin/crpyto hype and cash in as much as you can before the fad dies out.  

I'm now officially interested in this coin too. I'm interested in finding out how many joe blows will give these guys 36 million cash and 50% pre-mine for just another tech coin.  

[gutshot5820]

What am I missing here? All I'm seeing is a bunch of smart guys that have figured out a new technology to sell people on investing in their computer generated monopoly money printing technology.  As a trader of coins, I keep hearing every avid tech guy on chats and message boards tout their technology.  You know what?  Nobody gives a shit outside of the programming tech nerds.  We only care if it will make us money in the short term.  All these coins have a short life span outside of Bitcoin.  You know what is most important to people who will actually use these coins?  Anonymity and Liquidity, Liquidity, Liquidity.  You can take all the tech of the ten thousand different coins and none of them will be worth anything if you can't buy ten million and cash out ten million in a day.  But somehow this coin is worth 36 million in pre-sale along with salaries and 50% pre-mine?  Frack that, there are new coins that return 20x investments in a day with decent dev support out every other day, this one will be no different.

And who are all these guys that are interested in this coin and the underlying technology?  I'm sure if I read through it thoroughly, I will be impressed with the tech, but c'mon this is just another specially designed coin to make the founders rich with no risk.  Will I trade the coin if it does well initially? Yes, but I will dump it as soon as it reaches its peak , just like every other coin not named bitcoin does eventually.  Trading this coin is probably smart, but fracking dumping 36 million plus 50% premine into their laps from day one is just dumb.  There are plenty of coins with great dev support that don't ask/beg people disguised as an IPO (LMAO) for their money for a new tech coin.  I don't care if Obama designed the coin, it's just idiotic to hand over 36 million and 50% pre-mine to a bunch of strangers just because they have a new tech coin.  Coins are worth something because they are liquid and can be transferred from one person to another.  This, my tech is better than your tech is a war being fought by tech nerds trying to make money off of people while crypto coins are hot.  In three years the coin fad may be over and all these altcoins with superior tech will all be gone.  

I can accept a few million IPO and a small percentage pre-mine but 36 million and 50% pre-mine?  They are just beating everybody with a stupid stick and trying to get rich without any risk.  How about a change of pace and they personally invest 36 million of their own money and then take 50% of the pre-mine at least they would have some skin in the game.  THey want to get rich before the coin even starts and trying to disguise the greed as an IPO.  Trade and invest in the coin, but frackin don't give your goddamn money away just because they say so.

It's free markets at work, it's either you make the most of it or you don't  

Some win, some loose, maybe Ethereum will tank who knows, but what matters is we're witnessing the birth of incredible ideas and technology that are changing the world and will change the way we look at finance, assets & contracts. And i think it's fucking awesome that we are all here being part of this revolution (and hopefully making some decent money along the way)

Have at it then, I'm sure you will be selling your house and cashing out your retirement to give these guys money that they never had just because they say so.  With 36 million and 50% stock options we could invest in a venture capital company that is regulated by US laws that could start-up 20 of these coins with full devs and office and equipment and salary and have money left over to buy a condo and a Mercedes for every employee.  It's great that we are all part of this revolution that you are talking about, but here in the real world 36 million and 50% is real money.  How many total man hours are each of these principal owners putting into the coin? One or two months tops in their spare time?  Revolution and changing the world is great, I hear you, but do people have to get swindled and ass-fracked along the way?

no one is selling their homes to buy Ethereum, too bad you missed the point. Free markets will decide if this is overvalued or not, if it is then the price will tank on launch if it really turns out worth the $36Mill then investors will be rewarded handsomely. It's up to the individual to due their own due diligence, if you think this won't go anywhere and they are asking for more than it's worth then don't invest simple as that.

You are right, we all have a right to trade or buy in a free market, but there are reasons why legitimate companies have to provide a prospectus if an investment banker wants to go IPO.  To make people aware of the risks.  This is crowdsourcing at its worst.  All this talk on this message board about tech is ingenious and drives away the focus on the real point which is profitability and risk/reward and a certain amount due diligence.  If you like to blindly go and give your money away to a bunch of strangers on their say so, go ahead.  This is not a few dollars here and there.  These guys are trying to take a whole lot of money out of the Bitcoin community and I fail to see where they have any additional value than a ton of devs that are working for nothing except return for hard work.  These guys want to get PAID before they lift a finger and they want to be Millionaires before proving anything.

Free markets are fantastic as long as people are fully aware of the risks!!! For example.. a legitimate company would have to provide complete financials, exactly what work each individual is doing and how much they are getting paid for their work, potential for loss and why, what is their market size. competition, how many coins are out there now? how many more in the future? are there similar companies you can invest in without investing as much capital, etc  They would have to explain why they need so much capital, which I find it would be impossible to explain without the word GREED.  Most companies that go IPO usually have been in business for a substantial amount of time and have hard earned work as invested equity along with their own capital investment.  These guys, if anyone hasn't noticed, have literally no money invested and little time.  This is not an IPO, it's an attempt to take as much money out of the bitcoin community before the hype on crypto coins dies.  But when a group of devs are asking for 36 million from the average guy to make themselves millionaires before even launching, I think you should stfu and at least let other people question everything before making a decision like this.

[superresistant]

You are really retarded if you give a Satoshi to these pretentious guys, for a tool that will be available for free just after the IPO.

[gambitx]

I agree with Gigacoin's points about free markets they are valid but my problem with ethereum is not the tech but the amount they are asking is just insane. Come on guys $36 MILLION ? WTF are you guys smoking, it seems to me they are calculating in buying a few homes for themselves and new cars obviously, and then maybe use $2 Million for the actual development ? You can get this project Done for $5 Million is a very lavish way. Also don't forget that they increased the IPO price.

Have u guys looked at the team? one of them is 19 years old, and the other seem like they are there just to get rich with no real credentials. One of them is a fundraiser who worked for ron paul campaign, not even a developer wtf...$36 Million with nothing to show for ? Again They are asking for $36 MILLION with NO READY PRODUCT OR COMPANY VALUATION, WAKE UP PPL!



unfortunately projects like these will kill crypto and we will be the laughing stock of the world, this is TRULY the Dot Com bubble in the making.

[superresistant]

You are really retarded if you give a Satoshi to these pretentious guys, for a tool that will be available for free just after the IPO.

Please expand... are you referring to clones?

Ok, I'm gonna keep it simple :

Ethereum is a copy paste of Bitcoin except that you'll be provided a tool that allow you do easily develop on top of the blockchain.

These guys are not going to develop any application. You will have to do it yourself with their tool.

This tool will be for free after the IPO.

If you give your money for these greedy guys, how will you develop your own business ?

[gutshot5820]

What I would like to know is if they fall short of the 36 million, which I predict they will monumentally.  If they only raise one million, even with their cheap 2 for 1 sale ploy LMAO, are they going to drop the project and return everyone's money immediately?  This is a question people should be asking.  Also, if they fall short, and still want to proceed, how do they fund their projects?  Do they need to mine 50% if they don't need to distribute to buyers?  Some basic questions.  LOL This is like a joke, how do you make 36million plus in one day? Put up an ad on Bitcointalk, tell everyone you have the greatest tech and having a first day 2 for 1 IPO sale.  It almost sounds like a joke.

[juve4v]

...
I can accept a few million IPO and a small percentage pre-mine but 36 million and 50% pre-mine?  They are just beating everybody with a stupid stick and trying to get rich without any risk.  How about a change of pace and they personally invest 36 million of their own money and then take 50% of the pre-mine at least they would have some skin in the game.  THey want to get rich before the coin even starts and trying to disguise the greed as an IPO.  Trade and invest in the coin, but frackin don't give your goddamn money away just because they say so.

+1 Couldn't have said it better. You hardly can fool a real trader that is well anchored into reality and also has a natural apetite for caustic/ realistic thinking .

[gambitx]

Come on guys $36 MILLION ?

Why do you presume that 30000 BTC will be invested?

they are asking for $36million

[gambitx]

Come on guys $36 MILLION ?

Why do you presume that 30000 BTC will be invested?

they are asking for $36million

Isn't 30000 BTC just the maximum amount that can be invested?

It's the maximum because its what they hope to get, if they were really honest they will cap it at $5 Million MAX. Too much greed. Why would they set the max at $36MIL if they really didn't need that much? People need to ask critical questions.

[gambitx]

You are really retarded if you give a Satoshi to these pretentious guys, for a tool that will be available for free just after the IPO.

Please expand... are you referring to clones?

Ok, I'm gonna keep it simple :

Ethereum is a copy paste of Bitcoin except that you'll be provided a tool that allow you do easily develop on top of the blockchain.

These guys are not going to develop any application. You will have to do with their tool.

This tool will be for free after the IPO.

If you give your money for these greedy guys, how will you develop your own business ?

that's also the other problem, they won't be producing any application. They will only make a tool that will allow u to make one. I'm sure some nerd out there can make one for $50,000 or for free if he wants to do it himself

[jubalix]

You are really retarded if you give a Satoshi to these pretentious guys, for a tool that will be available for free just after the IPO.

Please expand... are you referring to clones?

Ok, I'm gonna keep it simple :

Ethereum is a copy paste of Bitcoin except that you'll be provided a tool that allow you do easily develop on top of the blockchain.

These guys are not going to develop any application. You will have to do with their tool.

This tool will be for free after the IPO.

If you give your money for these greedy guys, how will you develop your own business ?

isn't that what an OS does?

[Klonewars]

They say they are trying to make this IPO as fair as possible and distribute it also to miners etc. BUT they don't follow through with this fairness to themselves enriching themselves greatly. This could be a great technology but I'm not technical but this is more unfair than NXT ever was. At least NXT only became enriched by their own coins and didn't collect a huge amount of BTC to start.



I might invest in this but I am 100% that the guys are doing something that will benefit themselves multiples of times more than any investor. If they wanted to be fair they could put a cap at 1 BTC or even just ask people to send a token amount like .001 BTC etc. They could still get rich from their share if they create a successful coin. Don't forget even if this coin sucks and fails they get rich, this isn't Libertarian freedom of capitalism but more resembling a Ponzi scheme.






If I buy this coin and don't make much i'm going to be pissed that the skinny little geek is going to be snorting coke of one of his Faggot Dungeons and Dragons buddies butt crack.

[gutshot5820]

They say they are trying to make this IPO as fair as possible and distribute it also to miners etc. BUT they don't follow through with this fairness to themselves enriching themselves greatly. This could be a great technology but I'm not technical but this is more unfair than NXT ever was. At least NXT only became enriched by their own coins and didn't collect a huge amount of BTC to start.



I might invest in this but I am 100% that the guys are doing something that will benefit themselves multiples of times more than any investor. If they wanted to be fair they could put a cap at 1 BTC or even just ask people to send a token amount like .001 BTC etc. They could still get rich from their share if they create a successful coin. Don't forget even if this coin sucks and fails they get rich, this isn't Libertarian freedom of capitalism but more resembling a Ponzi scheme.






If I buy this coin and don't make much i'm going to be pissed that the skinny little geek is going to be snorting coke of one of his Faggot Dungeons and Dragons buddies butt crack.

The simple question you have to ask yourself is this?  Why pre-buy this coin as an investment and make these guys 36 million when you can probably make just as much on other coins without the risk of pre-sale.  For example, I have been buying up Klondikes since their launch a few weeks ago and already tripled my investment and expect at least 10x more still.  Why did I invest my money into Klondike?  They have six certifiable devs that are working on projects round the clock and you know how much was pre-mined and pre-sold?  Zero and Zero.  These guys are actually BUYING their own coins and hoping their investment in hard earn work and capital will earn them money later.  Can you believe that?  I can invest in Klondikes because I know the devs got a lot of their OWN money and time riding on it so they will not let it fail.  These guys on ethereum, I cant stop laughing, they are asking for 36 million dollars and 50% pre-mine.  "palmface"  If didn't see it, I would think it had to be a joke.

Even if you believe this coin will succeed in some capacity, you should not reward these guys for being greedy.  These type of deals will turn off a lot of the Bitcoin community and if people start putting any decent amount of money into these types of coins,  I GUARANTEE YOU, there will be a hundred more coins like this that will try to raise millions in pre-sale.  And before you know it, the market will be saturated and collapse, and the hundreds of thousands of people will start losing money because there just is not enough capital to support hundreds of 36 million pre-sale coins.  Don't support these get rich quick scams.  If you like the concept, you will be able to buy tons of these coins aftermarket without any pre-sale risk and without enabling these type of coin operators schemes.

[Klonewars]

They say they are trying to make this IPO as fair as possible and distribute it also to miners etc. BUT they don't follow through with this fairness to themselves enriching themselves greatly. This could be a great technology but I'm not technical but this is more unfair than NXT ever was. At least NXT only became enriched by their own coins and didn't collect a huge amount of BTC to start.



I might invest in this but I am 100% that the guys are doing something that will benefit themselves multiples of times more than any investor. If they wanted to be fair they could put a cap at 1 BTC or even just ask people to send a token amount like .001 BTC etc. They could still get rich from their share if they create a successful coin. Don't forget even if this coin sucks and fails they get rich, this isn't Libertarian freedom of capitalism but more resembling a Ponzi scheme.






If I buy this coin and don't make much i'm going to be pissed that the skinny little geek is going to be snorting coke of one of his Faggot Dungeons and Dragons buddies butt crack.

The simple question you have to ask yourself is this?  Why pre-buy this coin as an investment and make these guys 36 million when you can probably make just as much on other coins without the risk of pre-sale.  For example, I have been buying up Klondikes since their launch a few weeks ago and already tripled my investment and expect at least 10x more still.  Why did I invest my money into Klondike?  They have six certifiable devs that are working on projects round the clock and you know how much was pre-mined and pre-sold?  Zero and Zero.  These guys are actually BUYING their own coins and hoping their investment in hard earn work and capital will earn them money later.  Can you believe that?  I can invest in Klondikes because I know the devs got a lot of their OWN money and time riding on it so they will not let it fail.  These guys on ethereum, I cant stop laughing, they are asking for 36 million dollars and 50% pre-mine.  "palmface"  If didn't see it, I would think it had to be a joke.

Even if you believe this coin will succeed in some capacity, you should not reward these guys for being greedy.  These type of deals will turn off a lot of the Bitcoin community and if people start putting any decent amount of money into these types of coins,  I GUARANTEE YOU, there will be a hundred more coins like this that will try to raise millions in pre-sale.  And before you know it, the market will be saturated and collapse, and the hundreds of thousands of people will start losing money because there just is not enough capital to support hundreds of 36 million pre-sale coins.  Don't support these get rich quick scams.  If you like the concept, you will be able to buy tons of these coins aftermarket without any pre-sale risk and without enabling these type of coin operators schemes.

Thing is i'm not saying that its not a great coin, it could be, that's why I said I'm not technical and didn't know enough to ascertain its intrinsic value.

That point is irrelevant, my point is even if they have the most awesome coin in the world and will become the new global reserve currency they are clearly setting the IPO up to massively benefit themselves under the guise of being fair to miners etc. So the truth is I could make some good money on them but I know the founders will be making off like bandits as well. BUT I don't mind that, founders deserve rewarding if they ARE successful but they will succeed even if their coin isn't.

So why wouldnt I just pass this by? Well because if I gain I care little about their success. In fact the reason they can grab a large cut is because they MIGHT have a great coin. They know you want something and are being dicks about it basically. They are selling water in a desert, of course we want it and they can charge anything they want.

Now I have zero problem with them being dicks about how much they are asking, what I find annoying is they are talking BS about this being the fairest way possible to distribute the coins.

I would respect the little dweeb if in his squeaky little nerd voice he just said hey i'm the Geek Daddy and i'm gonna get so rich I can buy every Star Wars figure ever made and can get to have a gay spit-roast with his hero's Mark Zukerberg and Obama.

[stompix]

Come on guys $36 MILLION ?

Why do you presume that 30000 BTC will be invested?

they are asking for $36million

Isn't 30000 BTC just the maximum amount that can be invested?

So if somebody comes and asks if he can invest 100 000 BTC , will they refuse the offer? =)))

[extee]

organizing an IPO that will make everyone happy is not easy.
BCNext asked for 21 btc for all available Nxt....once he got the 21 btc closed the IPO as all shares where tied to that amount.
people complained cos they didn't make it  in time and argued that he should have had no cap and continued selling coins (which would have effectively diluted the investments of those who bought in believing 21 btc would buy the whole pie).
ethereum now does an IPO with no cap (basically there's just an unreachable skyhigh buffer cap) and the same people who argued against NXT cos it had a cap are now saying ethereum devs are greedy for not having a cap ..
in other words seems like either way you can't please people here,


i think the ethereum "no cap" way is the best.....set an amount of time....let the market decide how much it wants to put into it (remember there's noone forcing you to buy into it) then slice the pie accordingly.
judging by the big team they have, they are looking at rasing at least 150 btc (that would pay minimum wage salary to all of them for 1 year).obviously they might be looking at something more than just minimum wage...
i would personally like to see them with more exposure in ethereum coin itself so that would be a guarantee that they'd continue working on it for a while and they'd also have more to lose if it goes tits up.
in any case I'm not a blind investor....and will only judge whether to invest when there's more details about the product . in any case i will try the dagger mining if they still have it in place on release.

[gambitx]

They say they are trying to make this IPO as fair as possible and distribute it also to miners etc. BUT they don't follow through with this fairness to themselves enriching themselves greatly. This could be a great technology but I'm not technical but this is more unfair than NXT ever was. At least NXT only became enriched by their own coins and didn't collect a huge amount of BTC to start.



I might invest in this but I am 100% that the guys are doing something that will benefit themselves multiples of times more than any investor. If they wanted to be fair they could put a cap at 1 BTC or even just ask people to send a token amount like .001 BTC etc. They could still get rich from their share if they create a successful coin. Don't forget even if this coin sucks and fails they get rich, this isn't Libertarian freedom of capitalism but more resembling a Ponzi scheme.






If I buy this coin and don't make much i'm going to be pissed that the skinny little geek is going to be snorting coke of one of his Faggot Dungeons and Dragons buddies butt crack.

The simple question you have to ask yourself is this?  Why pre-buy this coin as an investment and make these guys 36 million when you can probably make just as much on other coins without the risk of pre-sale.  For example, I have been buying up Klondikes since their launch a few weeks ago and already tripled my investment and expect at least 10x more still.  Why did I invest my money into Klondike?  They have six certifiable devs that are working on projects round the clock and you know how much was pre-mined and pre-sold?  Zero and Zero.  These guys are actually BUYING their own coins and hoping their investment in hard earn work and capital will earn them money later.  Can you believe that?  I can invest in Klondikes because I know the devs got a lot of their OWN money and time riding on it so they will not let it fail.  These guys on ethereum, I cant stop laughing, they are asking for 36 million dollars and 50% pre-mine.  "palmface"  If didn't see it, I would think it had to be a joke.

Even if you believe this coin will succeed in some capacity, you should not reward these guys for being greedy.  These type of deals will turn off a lot of the Bitcoin community and if people start putting any decent amount of money into these types of coins,  I GUARANTEE YOU, there will be a hundred more coins like this that will try to raise millions in pre-sale.  And before you know it, the market will be saturated and collapse, and the hundreds of thousands of people will start losing money because there just is not enough capital to support hundreds of 36 million pre-sale coins.  Don't support these get rich quick scams.  If you like the concept, you will be able to buy tons of these coins aftermarket without any pre-sale risk and without enabling these type of coin operators schemes.

Thing is i'm not saying that its not a great coin, it could be, that's why I said I'm not technical and didn't know enough to ascertain its intrinsic value.

That point is irrelevant, my point is even if they have the most awesome coin in the world and will become the new global reserve currency they are clearly setting the IPO up to massively benefit themselves under the guise of being fair to miners etc. So the truth is I could make some good money on them but I know the founders will be making off like bandits as well. BUT I don't mind that, founders deserve rewarding if they ARE successful but they will succeed even if their coin isn't.

So why wouldnt I just pass this by? Well because if I gain I care little about their success. In fact the reason they can grab a large cut is because they MIGHT have a great coin. They know you want something and are being dicks about it basically. They are selling water in a desert, of course we want it and they can charge anything they want.

Now I have zero problem with them being dicks about how much they are asking, what I find annoying is they are talking BS about this being the fairest way possible to distribute the coins.

I would respect the little dweeb if in his squeaky little nerd voice he just said hey i'm the Geek Daddy and i'm gonna get so rich I can buy every Star Wars figure ever made and can get to have a gay spit-roast with his hero's Mark Zukerberg and Obama.

sure maybe its a great crypto but for $36 Million dollars ? ZERO risk from their side ZERO, its all on us and the incentives on ROI aren't that great either.

[scrypty]

If you study the potential of the bitcoin protocol and it is very clear that the power of the platform is currently vastly underutilised. Yes there are built in contracts, escrow, and other complex operations, but these are barely utilised, in spite of them being desperately needed by the bitcoin community and ecosystem.
I don't know the developers and I'm not technically qualified to say for sure, but the next years Google could look just like this.
One of the interesting things about buying/mining any coin is that you not only get the value of the coin and the ability to spend it, but also it is a share in the business of the coin, much like a stock market share. Why complain about them raising 20million when you'd prefer it was 2 million.

Clearly bitcoin is going to be big business - if you want to win it makes sense to be well funded, or you'll get squashed by the next guy.

Time will tell if these guys succeed or crash, but this should be looked at as more than a speculative currency investment - it is taking a stake in the development of a promising new technology.

Personally I'm bullish about bitcoin, but not (just) as a speculator. I'm bullish about the protocol and how it is going to impact the future.

I see bitcoin as being on par with social media or the internet. We are at the very start, but its the programming and contract potential that will be the long term value. The currency aspect will be important, but that's just a special use case of something much more powerful. I've got a lot more interest in what these guys are doing than the next Dogecoin, that's for sure!

As to the people who said "they aren't even going to build the apps for you!" - that's like complaining that the internet sucked as an invention because it didn't have facebook yet.

[gutshot5820]

They say they are trying to make this IPO as fair as possible and distribute it also to miners etc. BUT they don't follow through with this fairness to themselves enriching themselves greatly. This could be a great technology but I'm not technical but this is more unfair than NXT ever was. At least NXT only became enriched by their own coins and didn't collect a huge amount of BTC to start.



I might invest in this but I am 100% that the guys are doing something that will benefit themselves multiples of times more than any investor. If they wanted to be fair they could put a cap at 1 BTC or even just ask people to send a token amount like .001 BTC etc. They could still get rich from their share if they create a successful coin. Don't forget even if this coin sucks and fails they get rich, this isn't Libertarian freedom of capitalism but more resembling a Ponzi scheme.






If I buy this coin and don't make much i'm going to be pissed that the skinny little geek is going to be snorting coke of one of his Faggot Dungeons and Dragons buddies butt crack.

The simple question you have to ask yourself is this?  Why pre-buy this coin as an investment and make these guys 36 million when you can probably make just as much on other coins without the risk of pre-sale.  For example, I have been buying up Klondikes since their launch a few weeks ago and already tripled my investment and expect at least 10x more still.  Why did I invest my money into Klondike?  They have six certifiable devs that are working on projects round the clock and you know how much was pre-mined and pre-sold?  Zero and Zero.  These guys are actually BUYING their own coins and hoping their investment in hard earn work and capital will earn them money later.  Can you believe that?  I can invest in Klondikes because I know the devs got a lot of their OWN money and time riding on it so they will not let it fail.  These guys on ethereum, I cant stop laughing, they are asking for 36 million dollars and 50% pre-mine.  "palmface"  If didn't see it, I would think it had to be a joke.

Even if you believe this coin will succeed in some capacity, you should not reward these guys for being greedy.  These type of deals will turn off a lot of the Bitcoin community and if people start putting any decent amount of money into these types of coins,  I GUARANTEE YOU, there will be a hundred more coins like this that will try to raise millions in pre-sale.  And before you know it, the market will be saturated and collapse, and the hundreds of thousands of people will start losing money because there just is not enough capital to support hundreds of 36 million pre-sale coins.  Don't support these get rich quick scams.  If you like the concept, you will be able to buy tons of these coins aftermarket without any pre-sale risk and without enabling these type of coin operators schemes.

Thing is i'm not saying that its not a great coin, it could be, that's why I said I'm not technical and didn't know enough to ascertain its intrinsic value.

That point is irrelevant, my point is even if they have the most awesome coin in the world and will become the new global reserve currency they are clearly setting the IPO up to massively benefit themselves under the guise of being fair to miners etc. So the truth is I could make some good money on them but I know the founders will be making off like bandits as well. BUT I don't mind that, founders deserve rewarding if they ARE successful but they will succeed even if their coin isn't.

So why wouldnt I just pass this by? Well because if I gain I care little about their success. In fact the reason they can grab a large cut is because they MIGHT have a great coin. They know you want something and are being dicks about it basically. They are selling water in a desert, of course we want it and they can charge anything they want.

Now I have zero problem with them being dicks about how much they are asking, what I find annoying is they are talking BS about this being the fairest way possible to distribute the coins.

I would respect the little dweeb if in his squeaky little nerd voice he just said hey i'm the Geek Daddy and i'm gonna get so rich I can buy every Star Wars figure ever made and can get to have a gay spit-roast with his hero's Mark Zukerberg and Obama.

I dont know what the problem is anyways.  If you pre-buy the coins you are enabling these kinds of schemes and it will ultimately hurt you in the long run because hundreds of coins will try to pre-sale millions in the future and turn and burn traders and investors.  If you like the coin you will be able to buy a ton of them aftermarket without supporting this scheme.  Besides, they are setting a pre-market sale of one dollar per ethereum.  I GUARANTEE YOU that it will be way undersold.  I am 100% certain that real traders will not dump that kind of cash into someone else's lap before launch.  When they find out its undersold, they are going to try to make up for it by pre-mining the crap out of it and selling it aftermarket to pay themselves in that way. The market will get saturated in the beginning and you will be able to buy as many as you want at a steep discount.  Imagine they try to dump 30 million shares on the market at a dollar plus all the coins that will be mined.  It will surely sink before it will rise.  You have to be dumb to buy it in advance.  You will can wait until the last day of pre-sale and find out if its undersold and then you will know they will have to dump a lot of coins on the market in order to keep monetary promises to all their core people.

The ONLY reason they are doing crowdsource type of funding is because no legit banker or venture capitalist in the world would fund this project and if they did it would be with minimum cash to stay afloat and share options if they succeed.  The only people they can find dumb enough to not dig deep into finances are people who invested in coins and are just looking for the next hit without doing any due diligence.  But, I believe even us dumb traders can smell a fish and bait when we see one.  So there will be a few suckers and it will fall way way short of their goals.  Hence, massive dumping in the beginning.  I'm not against these guys making money, just against people taking advantage of other people.  This is a total scam job. IPO my ass, that's just appalling and these guys must have a very low opinion of the Bitcoin community's intelligence. Let them earn their money off the bitcoin community like every other dev.  Through hard work and success of the coin.

Free markets only work when the naive are made aware of the risks, otherwise it is just another scam job. I'm not even sure if these guys are legally allowed to fund this amount of money with USA residents, there are certain crowdsourcing laws to keep people from scamming others and Im sure when you are talking 36 million, it would be highly scrutinized.