[ANN] Ethereum: Welcome to the Beginning

[td services]

In the Jason Bourne novels by American author Robert Ludlum the department within the CIA which made Bourne and the other super agents is called Treadstone Seventy-One. The fact that the original Nxt contributors are 71 in number must mean the CIA is behind Nxt! It's a cryptic message... I can't believe no one has figured this out yet!

See, if I had been allowed to invest when I was locked out, NXT would have had 72 investors, making it holy.

By "not allowed to invest when I was locked out"... do you mean that even though you had completed your payment and had sent the Hash of the transaction before the Genesis Block was generated you were not allowed to invest and were locked out... OR are you just trying to get everybody to believe you got cheated somehow simply because you did not make it in time?    

Come on now... we have been over this plenty... you must have figured it out by now!?!    

Genesis block was still being made day after I asked when deadline was and pre-sale was abruptly closed without advance notice while I was waiting for answer on deadline while BTC sent while I was waiting was included. All someone had to say was "We are closing the pre-sale now. If you want to invest you need to do so now."

[1714059342]

1714059342

[jl777]

I had heard rumours that etherium already raised significant funds from financial community, vc's etc
Can there be official confirmation or denial on this very important point?

If there has been investment already raised, then i assume that they will get some sort of advantage over the public ipo investors. What sort of asvantage are we talking about? Is that where the 50% dilution comes from? What if the public ipo investors brings in ten times the btc as private funding round? Will the 50% dilution be reduced to five percent?

James

[td services]

Genesis block was still being made day after I asked when deadline was and pre-sale was abruptly closed without advance notice while I was waiting for answer on deadline while BTC sent while I was waiting was included. All someone had to say was "We are closing the pre-sale now. If you want to invest you need to do so now."

See... now we're getting closer... if I understood you well... you never received an answer and didn't get to send the BTC + Hash because the Genesis Block was/was being generated.  That is what I have been trying to tell you all this time.

As far as the "We are closing the pre-sale now.  If you want to invest you need to do so now." goes... I agree.  It might have been better if it had taken place... but people need to know when hearing your experience that the offer was already running 6 weeks.  Everybody is under the wrongful impression that BCNext cut the offer short really fast... but clearly it is not the case.

Honestly... does the fact that BCNext didn't give a 'Heads Up' after the offer being open and public for 6 weeks make Nxt anything less than what it truly is?  I mean the guy had set a cap of 250 people and 6 week later there were only 70 plus some change... and you are the only one that I am aware of, so far, that missed it marginally.  I think it is time for this myth to DIE.

Yup. How many times are we going to hear this bs from you Td services? Quit whining and accept the fact that you suffered from paralysis by analysis and screwed yourself. Should have got your ass off the fence and made a move instead oh ho-humming about it.

You're going to hear it every time the claim is made that everyone who wanted to was allowed to invest in NXT because that statement is not true. There also was no mention of any cap of 250 in the original announcement, just a date, 1/3/2014.

I had already decided to invest in NXT, just waiting for other markets to move in my favor for better exchange rate, thinking I had until January 3rd. The time from when I asked about deadline to being informed it was closed without notice was only a few hours. Another coin was accepted and included in the genesis block. Sorry, but I see this as a deliberate lockout to prevent further dilution of existing investment.

Pre-sales need to be very clear in their terms, cap limits, and schedules, and give plenty of advance notice of any changes. Ethereum strikes me as being very diligent in this regard.

[canuck]

Hi LeChatNoir,

Please take a look at the last article on the ethereum blog: http://blog.ethereum.org/2014/02/01/on-transaction-fees-market-based-solutions/

This explains a lot about fees and changes that might happen in the white paper regarding the fee structure.

Off-Topic: Are you French?

Woah woah woah...wait a minute.  Where does the author get this idea?

Bitcoin simply cannot organically adapt to handle anything more than the 7 tx/sec limit that Satoshi originally placed.

This is absolutely inaccurate and in a big way.  In fact, correct me if I'm wrong but so far as I can recall, the limit on the block size didn't even exist in the original qt client.  This limit is imposed by consensus and can be lifted by miners if not eliminated completely though that's a dubious suggestion at best.

I find the entire premise to be incredibly flawed.  The fallacy of market based solutions?  My goodness, this seemed alarmingly out of touch to me.

Of course it can be changed by consensus; I think his point was that it will be difficult to reach such a consensus. (Off topic a little, but just the other day I saw a YouTube video of a guy who was adamantly campaigning against increasing the block size.)

I don't know why it would be difficult.  Either miners would see value in rejecting code that accommodates lager blocks or they don't.  If it becomes a problem for people using the network, there rests less value in the network an so miners' coins become connected to a lesser degree of utility.

There are absolutely clear expressions of value or lack of value in courses of action that would further constrain or further liberate the network, depending on your perspective.  Just because there are completing interests at work does not at all mean that it's impossible or even difficult.  It just means that value expressions won't make sense to everyone in an abstract sense but that's a universal constant relative to all things that are priced in a market.  People value different things for different reasons.

[wizzardTim]

XCP, eMunie, MSC, Ethereum.. the battle of the giants is about to start!!!!

[Ursium]

This thread is so long, all posts get buried within 24h. I've compiled a list of FAQ from our forum below which should answer most questions.

We're going to organize a Q&A thread on BitcoinTalk, and we're also going to run an AMA on Reddit very soon. I'll post the time and dates and soon as all this is confirmed.


http://j.mp/ethereum_code_faq

http://j.mp/ethereum_mining_faq

http://j.mp/ethereum_investment_faq

http://j.mp/ethereum_meetup_faq

[td services]

This thread is so long, all posts get buried within 24h. I've compiled a list of FAQ from our forum below which should answer most questions.

We're going to organize a Q&A thread on BitcoinTalk,

Please, don't forget to self moderate this time.

[Ursium]

Please, don't forget to self moderate this time.

Apologies for that, won't happen again

[reda]

want to sell 300 UTC

[majik]

There is this argument that bitcoin blockchain is established and has a global network, name recognition and support group in place so altcoins and other resources built on top of it have a couple of years head-start to be successful and dominate the market. OT is one example which seems to even include contracts:

http://opentransactions.org/wiki/index.php?title=Main_Page

"Open-Transactions democratizes financial and monetary actions. You can use it for issuing currencies/stock, paying dividends, creating asset accounts, sending/receiving digital cash, writing/depositing cheques, cashier's cheques, creating basket currencies, trading on markets, scripting custom agreements, recurring payments, escrow, etc."

Barriers to entry is getting tougher everyday. Ethereum has an uphill battle to fight and a community that needs yet to be created to develop tools and resources.  Any thoughts?

[Herp]

XCP, eMunie, MSC, Ethereum.. the battle of the giants is about to start!!!!

Mastercoin to rule them all.

[td services]

And then there's Invictus, the knight in shining armor!

[Portnoy]

This thread is so long, all posts get buried within 24h. I've compiled a list of FAQ from our forum below which should answer most questions.

We're going to organize a Q&A thread on BitcoinTalk, and we're also going to run an AMA on Reddit very soon. I'll post the time and dates and soon as all this is confirmed.


http://j.mp/ethereum_code_faq

http://j.mp/ethereum_mining_faq

http://j.mp/ethereum_investment_faq

http://j.mp/ethereum_meetup_faq

From one of those faqs:
"All updates will be done via our blog on https://blog.ethereum.org and this FAQ"

What is that "stay connected" mailing list for that people sign up for on the main page of http://www.ethereum.org ?

[organizer]

Hey Charles,

Just a couple quick things.

- Not everyone is freaked out about the original IPO scale. Having been involved in pre-IPO tech companies before, I (for one) think even if the "ask" was 30mil, that's nothing in the world of tech. So don't let all the screamers freak you all out.

- With that said, please figure out a system so that everyone who wants to can be involved. The worst thing would be to allow big investors take all the pie and/or also have non-ipo investments taking place outside of the IPO terms.

- Regarding the Goldman crew. There are some of us who realize everyone who has ever worked at GS aren't just greedy bankers. They hired (and probably still are) some of the top mathmatical types to develop all their derivitives, etc. GS nowadays doesn't just mean you are a finance guy.

Keep it up, looking forward to it.

[Ursium]

What is that "stay connected" mailing list for that people sign up for on the main page of http://www.ethereum.org ?

We're about to fire up that up v. soon.

[pand70]

Having been involved in pre-IPO tech companies before, I (for one) think even if the "ask" was 30mil, that's nothing in the world of tech.

Still a big deal in the world of vaporware.  

[BittBurger]

"All updates will be done via our blog on https://blog.ethereum.org and this FAQ"

That url has an invalid SSL certificate:

This Connection is Untrusted
You have asked Firefox to connect securely to blog.ethereum.org, but we can't confirm that your connection is secure.
Normally, when you try to connect securely, sites will present trusted identification to prove that you are going to the right place. However, this site's identity can't be verified.
What Should I Do?
If you usually connect to this site without problems, this error could mean that someone is trying to impersonate the site, and you shouldn't continue.

[kdrop22]

XCP, eMunie, MSC, Ethereum.. the battle of the giants is about to start!!!!

Mastercoin to rule them all.

XCP, MasterCoin, eMunie, Ethereum, Protoshares - Exciting contest.

[nmersulypnem]

...

- Not everyone is freaked out about the original IPO scale. Having been involved in pre-IPO tech companies before, I (for one) think even if the "ask" was 30mil, that's nothing in the world of tech. So don't let all the screamers freak you all out.

...

As someone who's been involved with tech startups as well, I can say that this is very different from a traditional tech startup VC financing.  Aside from the fact that it is WAY more money than is typically offered in the first round of financing, there are also two key structural differences...

1.  There is no apparent legal recourse for fraud, poor performance, or neglect.  Meaning, they could take all 8 million dollars they get day one in BTC and cash out, never delivering anything.  This isn't possible with VC - they require very detailed funding agreements.
2.  We are not getting board seats or voting shares.  We, as investors, have absolutely no power over the direction of the crypto.  None.  Typically, a venture firm will have numerous methods of influence over a startup.

Now those are not necessarily show stoppers individually, but when taken as a whole - total lack of power and a tremendous amount of money given DAY ONE, then it definitely raises eyebrows.   I can tell you that no VC firm I know would invest as it is now.

[Portnoy]

What is that "stay connected" mailing list for that people sign up for on the main page of http://www.ethereum.org ?

We're about to fire up that up v. soon.

Very good. Thank you for the quick answer.