[ANN] Ethereum: Welcome to the Beginning

[lonsharim]

Will this coin be cpu or gpu mined?

Should be both.

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

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


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

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

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

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

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

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[tifozi]

In for one 

[turtoro]

In for one  

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

[KoinMaster]

In for one  

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

This is the classic pump strategy...

[turtoro]

In for one  

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

This is the classic pump strategy...

relax. its just a mere irritant. dont go off the deep end and call it a p/d, all things considered its clearly not.

[Chida]

Good luck

[Chris001]

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

[lonsharim]

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

Yep

Lowest is 0.01 BTC

[ddink7]

Lets have a more technical discussion please

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

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

[Herp]

Lets have a more technical discussion please

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

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

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

[nesco1805]

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

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

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

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

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

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

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

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

PS
[sorry for sarcasm, I know its not the best form]

[ddink7]

Lets have a more technical discussion please

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

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

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

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

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

[tiaguitah]

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

This won't work well.

[Ursium]

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

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

[nesco1805]

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

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

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

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

These fiduciary members controlling raised BTC assets, with no investment of their own that they haven't been already properly compensated for (0.225X),
are already running wild IMHO. And we haven't even started....

[albertdros]

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

when can i pay money and when can i start mining?

[organizer]

Lets have a more technical discussion please

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

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

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

[pandaisftw]

Assuming that Eth will reach the hard cap (30000BTC) at IPO, there are about 30,000,000-60,000,000 eths sold in total (Let's take a median value 45,000,000). Considering 50% premine, the amount of eth should be 1.5*45,000,000 ~ 67,500,000 at launch.
Until 2070, the total amount of eth should be 67,500,000*(1+0.4*46)~ 1,309,500,000.

So just don't worry about the inflation. The amount JUST increase about 20 times in 46 years.
It's only a bit, isn't it?

This type of fundraising puts investors in a very bad spot. Right out the gate, miners will be reducing their value very rapidly. Exactly 1 year after, devs/founders will dump 1/3 of their stash.
So investors will have to fight just to retain their ROI... not a spot you want to put yourself in when investing in any other coin could give you hundreds of % easily (if you pick the right one). Not to mention, in 46 years, your initial stake will be diluted to 5% of it's original value, so holding for the long term is not particularly rewarding.

And my question of why ETH should have any value has not quite been answered. It's not being put forward as store of value, ETH's value is in the programs that can run on top of ETH. So they create a situation where most people won't actually buy more ETH than they need to run a particular program (ie. no one is going to want to hold ETH with these initial inflation rates and risk of devs dumping 1 year out). Why hold ETH when you can hold other coins, make a killing from price increases, and simply send a few dollars over to ETH if you happen to need to run a script? Why take a risk with the rapid inflation that may or may not devalue your original stake by -66% one year from IPO? 1-(0.5/[(0.5/3)+0.5+0.4])

In the beginning there will be very few programs to run and a lot of ETH available... perhaps it will be better to buy (and mine) after launch. ETH is a good idea, but they punish investors much too greatly.

Bump. To reiterate, I feel that ETH is a very good idea, but a terrible investment to make because of how the inflation is structured, punishing those before the 1st year the heaviest.

[giveBTCpls]

Maybe a nice Idea, but again it's an investment scheme in it due to the limited supply of Etheres.

That are all nice functions, but I don't see, why in order to use them one has to buy into a highly speculative currency. In fact smart property, smart contracts, decentralized exchange, etc. Would all work better if issuers and and users of these wouldn't need to buy into a currency that is intended to get more and more expensive in order to use it.

I see really nice developments in crypto and it's cool that so many obviously smart people get involved in it.

But it's utterly disappointing, that everything build is at is core build only to make the early adopters rich. (Same thing with: Mastercoin, ProtoShares, Nxt, etc)

What all this people could accomplish if they would help develop Bitcoin?  

Aren't Bitcoin early adopters rich? what's your point.

[Sanglotslongs]

The ROI is not for the owners after the presale ! Just for Ethereum team (someone leaved school for that).