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Author Topic: [ANN] Ethereum: Welcome to the Beginning  (Read 2003413 times)
canth
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February 03, 2014, 04:25:27 AM
 #1181

...

- 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.

Unlike other projects, the core developers and founders are not staying anonymous. It would ruin their reputations and risk them legal consequences if they were to allow fraud to happen with funds raised from crowdsourcing. Like most early investments, there is certainly risk but this certainly isn't a situation where the founders could run away with the funds and easily get away with it.

Ethereum does not need traditional VCs and yet there are plenty of community angel investors who are very interested. I have no problem believing that Ethereum will be very well funded by those with plenty of capital. In concert with the amount of funds raised, there will be high expectations from small and large investors alike. The Ethereum founders will be held to high standards - as it should be.

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td services
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February 03, 2014, 05:57:35 AM
 #1182


Ethereum does not need traditional VCs and yet there are plenty of community angel investors who are very interested. I have no problem believing that Ethereum will be very well funded by those with plenty of capital. In concert with the amount of funds raised, there will be high expectations from small and large investors alike. The Ethereum founders will be held to high standards - as it should be.

+1 This is why I'm here. These pre-sales are ground floor opportunities to participate in seed rounds in small tranche sizes affordable to anyone. This has been denied to retail investors for a very long time. This is a threat to some gatekeepers and their cronies who are used to making a lot of money from the current system, which may be a motivation for the recent flurry of attacks against IPO type pre-sales. These attacks seem to be coming from experienced disinformation operatives skilled in their craft - not your typical trolls
Come-from-Beyond
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February 03, 2014, 06:04:58 AM
 #1183

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.

After reading all this I'm under impression that BCNext didn't like u and closed the fund raising just to make u unhappy.  Grin
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February 03, 2014, 06:10:42 AM
 #1184

So how can I make an investment into this?

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February 03, 2014, 06:16:15 AM
Last edit: February 03, 2014, 06:38:35 AM by pastet89
 #1185

When trying to complie it I am getting up to 95% and then I get a crashing error at this point:

Code:
[ 95%] Building CXX object test/CMakeFiles/testeth.dir/dagger.cpp.o
Linking CXX executable testeth
/usr/lib/gcc/i686-linux-gnu/4.7/../../../../lib/libleveldb.a(table_builder.o): In function `leveldb::TableBuilder::WriteBlock(leveldb::BlockBuilder*, leveldb::BlockHandle*)':
(.text+0x646): undefined reference to `snappy::MaxCompressedLength(unsigned int)'
/usr/lib/gcc/i686-linux-gnu/4.7/../../../../lib/libleveldb.a(table_builder.o): In function `leveldb::TableBuilder::WriteBlock(leveldb::BlockBuilder*, leveldb::BlockHandle*)':
(.text+0x699): undefined reference to `snappy::RawCompress(char const*, unsigned int, char*, unsigned int*)'
/usr/lib/gcc/i686-linux-gnu/4.7/../../../../lib/libleveldb.a(format.o): In function `leveldb::ReadBlock(leveldb::RandomAccessFile*, leveldb::ReadOptions const&, leveldb::BlockHandle const&, leveldb::Block**)':
(.text+0x6d0): undefined reference to `snappy::GetUncompressedLength(char const*, unsigned int, unsigned int*)'
/usr/lib/gcc/i686-linux-gnu/4.7/../../../../lib/libleveldb.a(format.o): In function `leveldb::ReadBlock(leveldb::RandomAccessFile*, leveldb::ReadOptions const&, leveldb::BlockHandle const&, leveldb::Block**)':
(.text+0x738): undefined reference to `snappy::RawUncompress(char const*, unsigned int, char*)'
collect2: error: ld returned 1 exit status
make[2]: *** [test/testeth] Error 1
make[1]: *** [test/CMakeFiles/testeth.dir/all] Error 2
make: *** [all] Error 2

Edit: This code solves the problem and now I have built it:

Code:
sudo apt-get install build-essential libirrlicht-dev cmake libbz2-dev libpng12-dev libjpeg8-dev libfreetype6-dev libxxf86vm-dev libgl1-mesa-dev libsqlite3-dev libvorbis-dev libopenal-dev libcurl4-openssl-dev libluajit-5.1-dev  libleveldb-dev libsnappy-dev libgettextpo0

However, how am I supposed to start the client?
I am executing from the build directory
Code:
cd eth && ./eth
and the console got stuck at:

Code:
Opened blockchain db. Latest: 0906dae3e53047ca76ed0603d48a9edadfd21f0efea5d5fd2437037c7cd1ad5a
Address: 127.0.0.1 = 127.0.0.1 [LOCAL]
Address: 46.238.37.253 = 46.238.37.253 [PEER]
TB : init_upnp()
Listening on local port 30303 (public: 0.0.0.0:0)
Mode: Full
Initialising: latest=0906dae3e53047ca76ed0603d48a9edadfd21f0efea5d5fd2437037c7cd1ad5a

Cryptostats.es
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February 03, 2014, 06:29:46 AM
 #1186

So how can I make an investment into this?

You can't make a contribution. The fundraiser has been postponed and no new date has been announced yet. Sign up for their mailing list and look on here for when we'll all go crazy when it's announced!

td services
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February 03, 2014, 06:33:57 AM
 #1187

@come-from-beyond and smaragda:

I think we need to close this and move forward. I doubt that there was any personal reason towards me (I didn't have much history here at the time) - just the motivation by BCNext to avoid further dilution of existing investment. His share was to be his reward for development. The BTC raised was chump change. Early on in the original NXT discussion, there was a concern with people jumping in at the last minute with huge amounts like with Mastercoin and even recently with the XCP burn. I had 5 BTC earmarked for NXT, but assumed it would be at 100-200 by the time I entered. I didn't know about the 1 BTC cap or 300% to 100% decreasing bonus since the announcing post wasn't updated - this was all buried in 20 pages of discussion. A lot of this is just the result of very poor communication with an announcement which was not kept up to date with changes and not at all clear on deadlines.

Philosophically, the NXT community seems very much in alignment with myself, it is unfortunate about this issue. You can probably understand that this event cost me 2-3 million USD at current NXT value in that I had already decided to invest, and would have flipped a Bitcoin into it on the spot had I known I needed to do it then, and someone else's was allowed in after I asked about it while I was denied. I've reviewed the post times and transaction times on November 17-18, all in Greenwich Time, to verify that everything I've said is true.
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February 03, 2014, 06:38:05 AM
 #1188

Mastercoin to rule them all.

Mastercoin is amateur hour compared to what these folks have planned.

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February 03, 2014, 06:40:42 AM
 #1189

I think we need to close this and move forward.

Out, ye Nxt demons! Cast them from this place, td services! Seal the portal while there is still time!

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February 03, 2014, 06:44:13 AM
 #1190

WTF? Where did all the info about the fundraiser go? Does it still exist?
_ingsoc
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February 03, 2014, 06:51:25 AM
 #1191

WTF? Where did all the info about the fundraiser go? Does it still exist?

This was literally posted a few posts up. There's also the "Investment FAQ" you can look at.


So how can I make an investment into this?

You can't make a contribution. The fundraiser has been postponed and no new date has been announced yet. Sign up for their mailing list and look on here for when we'll all go crazy when it's announced!

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February 03, 2014, 06:52:42 AM
 #1192

No LARPing on bitcointalk please.

I'm happy that I had to search for that to find out what it means. I have not slipped that far... I'm still okay.

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February 03, 2014, 06:55:17 AM
 #1193

However, how am I supposed to start the client?
I am executing from the build directory
Code:
cd eth && ./eth
and the console got stuck at:

Might be easier to run the GUI client if you're just getting into it. It's called "alephzero".


Code:
cd alephzero && ./alephzero

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February 03, 2014, 07:12:47 AM
 #1194

We have seen PTS BTS ,the NXT IPO , DAC, now the Ethereum Looking forward to this year

AE the RealWay
BTC:1NJtnYSyTs2Xy1pJqSEW7sdCW2SvJkzdZV
LTC:LdkZMrhQBSWK1NoYfjqx8J7viAbUxZCzMC
pastet89
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February 03, 2014, 07:33:16 AM
 #1195

However, how am I supposed to start the client?
I am executing from the build directory
Code:
cd eth && ./eth
and the console got stuck at:

Might be easier to run the GUI client if you're just getting into it. It's called "alephzero".


Code:
cd alephzero && ./alephzero

Yes, however, I can not compile it.

When running:

Code:
qmake ../../cpp-ethereum-poc-1/alephzero

I am getting:

Code:
Project MESSAGE: Warning: unknown QT: widgets

And if I try to ignore it and go ahead with "make" I am getting:

Code:
In file included from ../../cpp-ethereum-poc-1/alephzero/main.cpp:1:0:
../../cpp-ethereum-poc-1/alephzero/MainWin.h:8:32: fatal error: libethereum/Client.h: No such file or directory
compilation terminated.
make: *** [main.o] Error 1

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pastet89
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February 03, 2014, 07:41:06 AM
 #1196

When I tried to apply this solution:

http://forum.ethereum.org/discussion/139/qt-widgets

I am getting:

Code:
***Unknown option -qt=qt5

Cryptostats.es
_ingsoc
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February 03, 2014, 08:01:29 AM
 #1197

When I tried to apply this solution:

http://forum.ethereum.org/discussion/139/qt-widgets

I am getting:

Code:
***Unknown option -qt=qt5

Do you have qtbase5-dev and qt5-default installed?


Code:
sudo apt-get install qtbase5-dev qt5-default

pastet89
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February 03, 2014, 08:24:23 AM
 #1198

Hi, thanks.

I installed them and passed the qmake step. However, when I go to the make step I am getting:

Code:
../../cpp-ethereum-poc-1/alephzero/MainWin.h:8:32: fatal error: libethereum/Client.h: No such file or directory
compilation terminated.
make: *** [main.o] Error 1

Strangly, but in my cpp-ethereum-poc-1/libethereum folder I can see this file, however, the cpp-ethereum-build/libethereum does not have it.

Cryptostats.es
pastet89
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February 03, 2014, 09:01:53 AM
 #1199

OK, so opened the code of MainWin.h, saw that it was trying to include libethereum/Client.h, and that this folder is one step parently as opposed to the current, copied the folder inside the alephzero, ran again make, then go successfully trough this error and got:

Code:
./ui_Main.h:14:25: fatal error: QtGui/QAction: No such file or directory

I am trying to believe that sth really general must be messed up here.
May the developers of the client help me, please?

P.S. Do not get me wrong, I am a big fan of Ethereum, however, you really need to make the client more user-friendly. I will not exaggerate if I say that I am trying to install it from 7:00 AM local time, now is 11:00.  Cheesy Cheesy Cheesy

Cryptostats.es
lemfuture
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February 03, 2014, 10:26:01 AM
 #1200

OK, so opened the code of MainWin.h, saw that it was trying to include libethereum/Client.h, and that this folder is one step parently as opposed to the current, copied the folder inside the alephzero, ran again make, then go successfully trough this error and got:

Code:
./ui_Main.h:14:25: fatal error: QtGui/QAction: No such file or directory

I am trying to believe that sth really general must be messed up here.
May the developers of the client help me, please?

P.S. Do not get me wrong, I am a big fan of Ethereum, however, you really need to make the client more user-friendly. I will not exaggerate if I say that I am trying to install it from 7:00 AM local time, now is 11:00.  Cheesy Cheesy Cheesy
i believe in time it will be..

1ADLcfwTofFXb95pKhebpeRkJ4WTWsvQXB
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