[ANN] Ethereum: Welcome to the Beginning

[deodecagone]

Welcome to the New Beginning

When the grand experiment that is bitcoin began, the anonymous wizard desired to test two parameters- a trustless, decentralized database enjoying security enforced by the austere relentlessness of cryptography and a robust transaction system capable of sending value across the world without intermediaries. Yet the past five years years have painfully demonstrated a third missing feature: a sufficiently powerful Turing-complete scripting language. Up until this point, most innovation in advanced applications such as domain and identity registration, user-issued currencies, smart property, smart contracts, and decentralized exchange has been highly fragmented, and implementing any of these technologies has required creating an entire meta-protocol layer or even a specialized blockchain. Theoretically, however, each and every one of these innovations and more can potentially be made hundreds of times easier to implement, and easier to scale, if only there was a stronger foundational layer with a powerful scripting language for all of these protocols to build upon. And this need is what we seek to satisfy.

Ethereum is a modular, Turing-complete contract scripting system married to a blockchain and developed with a philosophy of simplicity, universality and non-discrimination. Our goal is to provide a platform for decentralized applications - an android of the cryptocurrency world, where all efforts can share a common set of APIs, trustless interactions and no compromises. We ask for the community to join us as volunteers, developers, investors and evangelists seeking to enable a fundamentally different paradigm for the internet and the relationships it provides.

Who is Behind Ethereum?

Our fiduciary team contains 4 members:

• Vitalik Buterin → Inventor of Ethereum, Partner at KryptoKit and Cofounder of Bitcoin Magazine
• Anthony Di Iorio → Founder and Executive Director of the Bitcoin Alliance of Canada, Bitcoin Decentral, KryptoKit
• Charles Hoskinson → Former CEO of Invictus Innovations and Director of the Bitcoin Education Project
• Mihai Alisie → Founder of Bitcoin Magazine and Egora

We also enjoy a deep bench of developers, marketers, entrepreneurs, evangelists and partners including:

• Dr. Gavin Wood: Core C++ Developer
• Geff Obscura: Core Go Developer
• Dr. Emanuele Costa: Quantitative Analyst; SCRUM Master
• Joseph Lubin: Software Engineering, Quantitative Analyst
• Eric Lombrozo: Software Architect
• Max Kaye: Developer
• Jonathan Mohan: Media, Marketing and Evangelism (BitcoinNYC)
• Wendell Davis: Strategic Partner and Branding (Hive Wallet)
• Anthony Donofrio: Logos, branding, Web Development (Hive Wallet)
• Taylor Gerring: Web Development
• Paul Snow: Language Development, Software Development
• Chris Odom: Strategic Partner, Developer (Open Transactions)
• Jerry Liu and Bin Lu: Chinese strategy and translations (http://www.8btc.com/ethereum)
• Hai Nguyen: Accounting
• Amir Shetrit: Business Development (Colored Coins)
• Steve Dakh: Developer (KryptoKit)
• Kyle Kurbegovich: Media (Cointalk)

We will switch our PoW from Dagger to a hybrid PoW/PoS system to be developed via a bountied competition conducted by our university partners and open to the general community for participation. The terms will be announced in late february including judges, specifications and the university partners.

We have partnered with Hive and Kryptokit to assist us in conducting the fundraiser and at time of launch there will be four options to participate in the exodus swap: Kryptokit, Hive, a dedicated python client and directly through the fundraiser website. We will have the testnet operational on Februrary 1st, 2014 at http://fund.ethereum.org. We will also post videos on our official youtube channel explaining how one can use each of the methods.

We recommend all those who participate in the fundraiser provide an active email address to receive a cryptographically signed receipt from the exodus address of their swap as a secondary proof of stake in Ethereum’s blockchain. The primary proof of stake will be transactions stored by the bitcoin blockchain.  You will also be enrolled in our monthly newsletter to help you stay informed about the project and major events.

The Next Step: Some Links

Welcome to the Ethereum Ecosystem:

• http://ethereum.org/
• http://ethereum.org/ethereum.html
• Enjoy the Code: https://github.com/ethereum
• Blog Post: http://blog.ethereum.org/?p=53/ethereum-now-going-public
• Coindesk Article: www.coindesk.com/ethererum-launches-cryptocurrency-2-0-network/
• Bitcoin Magazine Article: http://bitcoinmagazine.com/9671/ethereum-next-generation-cryptocurrency-decentralized-application-platform/
• (Ethereum Project’s Official Youtube Channel)
• (Upvote us on Reddit)

Contact Us:

General Queries
info@ethereum.org

Media Inquiries
charles@ethereum.org

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I have the Windows Ethereum v0.0.1 Client up and running....

Currently no GUI and mining ism't possible....

Will be checking for updates regurarily....

Welcome to the end of yet another crap

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[mercenar1e]

so a few can mine now, investors cannot buy still? second time or third to delay the fund-raiser and this time it is without another new deadline? what a joke, can't wait to participate in the fund-raiser of a fork with more dedicated serious devs.

who are the few that can mine now?

[fabiofederici]

so a few can mine now, investors cannot buy still? second time or third to delay the fund-raiser and this time it is without another new deadline? what a joke, can't wait to participate in the fund-raiser of a fork with more dedicated serious devs.

As I understood mining isn't real, as it is just on the testnet. The testnet was released to give some more insights to people willing to invest. I guess that the fundraiser has been delayed due to the large response and the unsatisfying conditions of the IPO. My prediction would be that they are improving the IPO terms and will release a new date for the fundraiser as soon as they fixed the terms.

From a personal perspective I think it was a smart move to listen to the community, which clearly wasn't happy with the conditions. I would also prefer to push the fundraiser back, instead of launching an IPO to an unhappy crowd.

[Djinou94]

So what can we do if we cannot mine and can't invest?

[pabloangello]

So what can we do if we cannot mine and can't invest?

Go for a walk and rethink your life.

[Sportfreund1488]

I will go in with 110 BTC

[CryptKeeper]

I will go in with 110 BTC

The germans are coming - help us god! 

[Come-from-Beyond]

Is it possible to pay with good old USD?

[CryptKeeper]

Is it possible to pay with good old USD?

+1
Would also prefer bank transfer!

[Hauberg81]

@ which time i can buy?

[rammy2k2]

@ which time i can buy?

in abt 7 mins

[Ursium]

Time for a quick PSA:

- Any BTC address or fundraiser or IPO is at the moment, a SCAM
- Any client not built from code.ethereum.org is a SCAM

- All communications are done via blog.ethereum.org

- The testnet went live this morning UK time, it contains an alpha client, no meaningful mining function
- At the moment only the C++ LINUX client has been released

[Jeezy911]

If they restructure the IPO to be more fair it will definitely do well for the project. I'm willing to invest but don't let the shareholders take 100% of the risk!

[BitPappa]

Time for a quick PSA:
- All communications are done via blog.ethereum.org

Right now blog link gives "Error establishing a database connection"

[toben]

Sorry for the confusion.

The linux mining guides is correct. However the windows and OSX source code have not been updated.

I will post a guide on my blog to install ubuntu under vmware on linux.

Linux       - http://ethereum-miner.tumblr.com/post/75205573886/linux-ubuntu-install-guide
Windows  - Instructions coming to install ubuntu on windows through vmware so you can get started on windows. Previous Go guide is outdated.
OSX        - Coming soon.

How to run ubuntu linux on windows under vmware. (Only way to run latest version on windows at this point)
http://ethereum-miner.tumblr.com/post/75267175905/guide-to-running-ether-client-on-windows-by-running

Toben

[Ursium]

Sorry for the confusion.

The linux mining guides is correct. However the windows and OSX source code have not been updated.

I will post a guide on my blog to install ubuntu under vmware on linux.

Linux       - http://ethereum-miner.tumblr.com/post/75205573886/linux-ubuntu-install-guide
Windows  - Instructions coming to install ubuntu on windows through vmware so you can get started on windows. Previous Go guide is outdated.
OSX        - Coming soon.

Toben

Great stuff Toben!!!
We've also added a FAQ on our forums: http://forum.ethereum.org/discussion/170/faq-on-code-updated-regularly#latest

[toben]

This is 1 of 2 problems.

1. Apparently the devs are using ubuntu 13.04 not 13.10 I am testing this now.
http://releases.ubuntu.com/13.04/ubuntu-13.04-desktop-amd64.iso

2. install libboost with the following
sudo apt-get install libboost1.53-all-dev

1 of these 2 should fix it.

[BittBurger]

Hi everyone.

Mass adoption and *significant* demand will be required for value of Ether to rise *at all*

Can that really happen in a world just starting to grasp Bitcoin?

In order for Ether to increase in value at all, there has to be an ever-increasing level of demand of real-world economic adoption in a setting where more and more ether is constantly being created.  
In order for Ether to go up one "penny", adoption must be fast, worldwide, outpace the inflation built in to the system *and* outpace Bitcoin adoption.  

Let's try to think what that really means.

Bitcoin has market share.  Familiarity.  Recognition.  Adoption.  Five years under its belt as the first and most widespread Crypto.  This is a huge ... huge ... huge obstacle to compete with. It makes *absolutely no difference* that one is better than the other.   None.  The vast majority of human beings are 100% uneducated on this stuff, and very skittish with new technologies.  ESPECIALLY when it comes to their money.  They have only just begun accepting Bitcoin, kicking and screaming the entire way.  Its been a mess of misinformation, confusion, paranoias, fears and a complexity that most can't grasp.  Yet its finally just now piercing that obstacle and beginning to become accepted.  For *one* crypto to accomplish this, is monumental.  Bitcoin has already gone worldwide.  I am not certain I agree that this is like myspace and then facebook.  Or webcrawler and then google.  The learning curve was nearly zero when myspace came out.  And the transition to Facebook / Google was ONLY SUCCESSFUL because it was simple and seamless. Human beings resist change when things are even SLIGHTLY complex, or confusing.  Because of the complexity, uncertainty, and "fear of the unknown" that Bitcoin brings, people are going to lock down on Bitcoin, and may not let go.   To put it another way, I picture many saying:  "You finally got me to grasp this crazy crypto whatever, and im still a little freaked out by the whole thing, and now there's this Ether somethingoranother and you want me to make the jump to that?  No thanks.  I'll stick with Bitcoin." Getting the *entire world* to just "hop off" the Bitcoin wagon and jump over to something even more complex and completely new could be difficult, if not impossible.  While educated people in the crypto world may hail Ether as something amazing, the average person may stick to Bitcoin.  And that means adoption is going to be severely hindered with Ether.  And if that is the case, Ether will go down in value, or struggle to maintain its value.  If Ether doesn't literally become a bitcoin killer and totally replace it - and not with nerds - but with people in 3rd world countries who are just now learning Bitcoin .... its not going to go anywhere.  Reality tells us that "better systems" are often not adopted when they are complex.  Perfect example:  GPG messaging, versus regular email.  Clearly a superior system.  Could've gone gangbusters.  Never did.  Why?  This may happen with Ripple.  And it may happen with Ether.  There will have to be a massive, (and i mean massive) marketing effort that targets the slowly "comprehending" business owners and entrepreneurs that are still just getting their heads around Bitcoin.   Maybe its timing.  Maybe if Ether happened on the scene 4 years from now, when Bitcoin is a household term, and everyone totally "got it" .... right down to Grandma .... then Ether could pop up and say "Here's something even better", and the world would flock to it.  But they're still trying to get comfortable with Bitcoin .... and I really wonder if the adoption necessary for investors to reap any return on investment will actually happen. Maybe in 5 years, if we're lucky?  Then again, they say Bitcoin is 7x faster than "internet time" in evolution and adoption.  So maybe it won't be 5 years before the African man with a basic smartphone in the jungle using Bitcoin, transitions to Ether.  Or maybe if both can exist side by side, allowing Bitcoin to "do what it does", and still generate significant demand for Ether, then adoption will outpace ether inflation. But I fear the required adoption model which would push the value of Ether up, may not pan out.  

Disclaimer:  Playing Devil's Advocate.   Thoughts?

[wunderbaro]

When the IPO will start? I heard it had been delayed but for how many days? 

[charleshoskinson]

and I really wonder if the adoption necessary for investors to reap any return on investment

So we have the same problem as every single company offering a product in the entire software industry? Also if we had the marketcap of dodgecoin, then investors would most likely double their money. I'm not worried about the marketcap, I'm concerned about increasing the utility of the Ethereum network whenever possible. Ether is the fuel for it. The more utility of the network, the more ether gets consumed. People don't buy oil because its pretty. The more stuff running on ethereum; the higher demand for ether.