[ANN] Ethereum: Welcome to the Beginning

[turtoro]

What about the costs founders estimate to have after the launch?

You know, the good old spreadsheet...

Not yet disclosed to the public AFAIK We should hopefully know more now that the Miami conference is over.

"Kinda" important if you want to know what they're up to.

It is important. And thats why we will look at it and have more concrete facts to analyse this on afterwards. Thats why all the fearmongering is so silly, its not based on anything. In fairness to those guys its not like they just dropped by and said "send me 30000btc". They gave an overview and said more info will be on the way.

It's not just important. It's essential.


Who could consider investing without it? Is this kindergarten?

The fact there are no numbers is alarming. Even if there are none right now, it should be mentioned on the front-first page as to when they're going to be available.

Transparency! BEFORE the IPO.

Whats your problem? they clearly said when the prospectus will be out. and it was on the front page. kindergarten is impatience, and thats what most are showing. What, do you have to make a decision on this in the next 2 minutes? bookmark this and wait for updates.

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[Alphi]

Could you please put some more light on this statement, for example, if I invest 1 BTC within the first week, how much Ethers will I end win at the end of the fundraising period?

its in the white paper under currency and issuance


http://ethereum.org/ethereum.html

[lonsharim]

Could you please put some more light on this statement, for example, if I invest 1 BTC within the first week, how much Ethers will I end win at the end of the fundraising period?

its in the white paper under currency and issuance
http://ethereum.org/ethereum.html

This is my understanding on the issuance. A simple spreadsheet that will give you a bird's eye.

[BitcoinForumator]

What about the costs founders estimate to have after the launch?

You know, the good old spreadsheet...

Not yet disclosed to the public AFAIK We should hopefully know more now that the Miami conference is over.

"Kinda" important if you want to know what they're up to.

It is important. And thats why we will look at it and have more concrete facts to analyse this on afterwards. Thats why all the fearmongering is so silly, its not based on anything. In fairness to those guys its not like they just dropped by and said "send me 30000btc". They gave an overview and said more info will be on the way.

It's not just important. It's essential.


Who could consider investing without it? Is this kindergarten?

The fact there are no numbers is alarming. Even if there are none right now, it should be mentioned on the front-first page as to when they're going to be available.

Transparency! BEFORE the IPO.

Whats your problem? they clearly said when the prospectus will be out. and it was on the front page. kindergarten is impatience, and thats what most are showing. What, do you have to make a decision on this in the next 2 minutes? bookmark this and wait for updates.

On the first page there is a mention of some kind of "Prospectus" on the 1. Feb, which is launch day of IPO.

I do not want to make hasty decisions. It would have to be done and out by now.

Every investment proposition and opportunity starts with a - don't know the english word for this, but a spredsheet of costs on on side and potential income on the other.

Where is the potential 25 million dollars going exactly? ...

[HCLivess]

Looks much better than NXT and the clones! I will try to support this as much as I can.

[Alphi]

This is my understanding on the issuance. A simple spreadsheet that will give you a bird's eye.

cheers,

its good that they left a 2 month window for IPO... it gives more than enough time for the word to get out so that people cant complain about being left out.

[ddink7]

Vitalik Buterin is actually Satoshi, returned from retirement. <- True story.

[KoinMaster]

Vitalik Buterin is actually Satoshi, returned from retirement. <- True story.

@_ingsoc where are you??? Jump on him right now with an ugly picture and call him evil "conspiracy theorist"...

[opticalcarrier]

This thread is such a joke.  You have the EXACT three or four guys repeating over and over again what a great product it is and attacking and demoralizing anyone who has a negative opinion about it.  Go to just about any forum thats sells products and you see the same pattern.  Three or four shills pumping up the product throughout the entire thread making it seem like the entire community thinks it is awesome.  This crowdfundraising is a total scam job.  Who in their right mind gives 30,000 in untraceable bitcoins to a bunch of total strangers that refuse to file the proper paperwork that is required when crowdfundraising.  This legally required fundraising is designed to provide transparency and protect people against fraud.  This is not your average coin launch that does a percentage of pre-mine for advertising.  They lost their right of anonymity as small time devs just casually creating coins when they asked for 36 million dollars from the public. When you ask for that kind of cash, you MUST file the proper paperwork.

They are asking YOU and the entire bitcoin community to TRUST them and GIVE them 30,000 BTC before launch and make them millions before one coin is mined with absolutely no documentation, no insurance, no bond, no transparency, no regulatory filings.  Do not let them deceive you.  This is not just another coin launch.  When you ask for this type of money, you MUST file the proper paperwork and background checks.  Who are these guys?  ONE youtube video and they are asking for 30,000 BTC.  Let them earn their money like every other dev, mine a small part and let the market decide how much the coins should be worth. Even if you like the tech DO NOT enable this kind of behaviour and let these fukin devs take advantage of the bitcoin community.  They want to be millionaires with YOUR money before even launching.  They want YOU to take ALL the risk while they become millionaires with ZERO risk.    They will be laughing all the way to the bank in their new Lamborghinis and Homes, while you are nervous about your money the entire time.  They have no sweat equity or money in of their own in this project.  Does this seem right to you?

Actually if anyone has bombarded this thread by repeating the same point over and over and over again, it is you.

You have been repeatedly told that 30,000 BTC does not translate to 36 million dollars on current BTC prices but you ignore them and stick to your version. You just want to scare people away. You have repeatedly been told that 30,000 represents a hard cap and it remains to be seen how much our community actually invests but again you only acknowledge what is convenient for you. For the record what is the largest IPO in BTC terms that has been raised for alt-coins. I know XCP has PoB'ed 1600+ BTC. Anything higher than that? ETH might not attract an investment in 5 digits so I really do not understand the fuss.

You ask for conformity with US regulations when this is NOT a project within American jurisdiction and global investors including investors from outside your country. You know people do exist who are not American. Should they file paperwork with every country where investors come from?

Everyone has a choice. You have made it clear that this is scam. So don't invest in it. You want to educate others about it? I have read a dozen of your posts that essentially make the same point. It's got to a point where this is now verbal diarrhea ad nauseum.

I suspect you actually do want to invest a large amount yourself so by scaring the crap out of people you want to minimize dilution. You can deny all you want but there is no other motive strong enough to repeatedly change the narrative of this thread your way with nothing else to gain. If I thought this was a scam I would have had my say and then left this thread alone.

I am going to add you to my ignore list and urge everyone to - because you have ceased to provide anything meaningful to this conversation.

Your comments are worthless.  It is obvious from your previous posts you are a HUGE ethereum backer so please do ignore me because I am trying to make people aware of scums like you.  You are advocating to the entire bitcoin community to send these guys 30,000 bitcoin with nothing, no paperwork , no background checks, no legal filings, your excuse is they are not in USA, hey buddy I have news for you.  Canada has ten times more legal restrictions when it comes to crowdfundraising than USA.  Why are you so interested in having people send 30,000 bitcoin of their own money to total strangers with no transparency?  Because you want to get paid.  You willingly and willfully ignore all laws and condemn others that ask for more transparency and in compliance with all the laws and regulations.  

You are the scum of the earth. you are so filled with greed that you will intentionally advise people to send money to total strangers based off a youtube video.  You know how funny that sounds?  Who in their right mind would send 36 million dollars to anybody without COMPLETE due diligence.  You know who the people are that get ripped off and lose their life savings?  People that invest and send their money to total strangers that operate outside the law.  And those companies have assholes like you intimidating others from any criticism until its too late.

"I suspect you actually do want to invest a large amount yourself so by scaring the crap out of people you want to minimize dilution."

You are demented and shallow in your thinking.  I am a casual crypto coin investor, as you can see from my previous posts.  I have invested in BTC, LTC, MEOW, DGB and KDC.  I was interested in investing in Ethereum until I read more about it, the more questions I asked the more aggressive responses I received from invested people like you.  That got me more curious as to why people were getting so angry when all I was asking for was more transparency.  So all I am trying to do is shine a light on topics people who have a vested interest in Ethereum are angrily and violently trying to steer people away from.  Thats my purpose for hanging around.  Whats yours?  Fukin pure greed.  Whats the difference between you and other Wall Street asshole like Goldman Sachs?  Nothing, you will do whatever to  make a quick buck and greed rules your character, you try to blindly steer people away when they start asking questions about the truth so you can make money.  I have nothing against people trying to make money, we all want to be wealthy.  I have problems with people and entities trying to scam other people and skirt the regulations that will prevent fraudulent activity.

well im just waiting to see how much Hazard rips up ethereum, given how he demonized them so badly just recently in cryptolife

[coinrevo]

well, this whole drama puts in a pretty bad position. I find it irresponsible, but there it is. So I have some "inside" information, but that's not really needed. what's wrong with you guys? 36 million dollars as a goal for development cost, raised on the back of a community which could need resource in plenty of places? This is just so unreal. just stop this nonsense, and start over with a plan that makes sense - you'll be fine.

[Herp]

this amount of premine and greed with Ethereum devs are of epic proportion. good luck to those "invest" in this.

They do have ex Goldman Sachs members on their team. Those guys are taught to "leave nothing on the table". This  IPO was created and structured by Goldman guys. This is why it leaves zero crumbs on the table for the average guy.

[KoinMaster]

this amount of premine and greed with Ethereum devs are of epic proportion. good luck to those "invest" in this.

They do have ex Goldman Sachs members on their team. Those guys are taught to "leave nothing on the table". This  IPO was created and structured by Goldman guys. This is why it leaves zero crumbs on the table for the average guy.

Current Goldman Sachs employees are involved. One of the founders acknowledges this fact at 8:08-8:12 in the video https://www.youtube.com/watch?v=q5FDvzj8YX4

If somebody would try to suggest that he say GS members "worked" in the team, then turn on the captions (cc button under the video in Youtube) and you'll see he says "work" in present tense....

[Herp]

this amount of premine and greed with Ethereum devs are of epic proportion. good luck to those "invest" in this.

They do have ex Goldman Sachs members on their team. Those guys are taught to "leave nothing on the table". This  IPO was created and structured by Goldman guys. This is why it leaves zero crumbs on the table for the average guy.

Current Goldman Sachs employees are involved. One of the founders acknowledges this fact at 8:08-8:12 in the video https://www.youtube.com/watch?v=q5FDvzj8YX4

If somebody would try to suggest that he say GS members "worked" in the team, then turn on the captions (cc button under the video in Youtube) and you'll see he says "work" in present tense....

They say they have team members that worked for Goldman Sachs, which means they are no longer working for Goldman but where schooled and trained there. That's my point. So of course this IPO is so savvy and cleverly structured to skin the sheep till last chunk of wool is cut and sheep is left in the cold, shaking and trembling butt naked.

[Gcr0n]

even if Rothschild himself was involved in this, with the support of Obama, you guys will always find something..
even a bag of dorito's are illuminati triangles..

what i would like to know without too much technical info is how a simple soul can get some of this without investing.

is it possible to use a cloud server?  this is cpu only?  i swear i've tried to read the whitepaper but it goes above my head..

people will only answer me if they know i'm a high lvl programmer or big investor.. so vitalik tell me how i can be part of this.

[jahwillprovide]

I was so impressed by Ethereum at BTC Miami! Ethereum is definitely the future.

[klee]

Vitalik is a 19 y.o. child - IQ is irrelevant here, he can be gamed very easily...

Bill Gates founded Micro$oft at 20. Say what you will about Microsoft and its collusion with power structures... Investing on day 1 might have been a good  move,  had you had the opportunity to do so... Which of the frontrunners in this space...Etherium, Mastercoin, NXT, Invictus... which are currency, smart property solutions, and which are distributed OS?

I have invested in all of them and I will invest in Ethereum too, only difference is I know I invest to Google or Microsoft here...

No anarcho/will change the world illusions!

Klee, would you mind saying ratios of your investing into Mastercoin, NXT, BitShares and Ethereum?

I have no agenda behind this other than to get another perspective for my own investing.

Hard to say ratios but I initially had about 350MSC, 30M NXT, 2222XCP and 200PTS (mined) - I will invest somewhere between 5-10btc in Ethereum.

[ddink7]

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.

[Netnox]

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?

[Herp]

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?

[msin]

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.