[ANN] Ethereum: Welcome to the Beginning

[reRaise]

Sorry for investors but I think you can consider that Ethereum is dead.

It is impossible for devs to fix its flaws.

What's the point of releasing something that doesn't work ?

RIP Ethereum.

Are you scared it will take over the coin you invested in? You sound like one

[1714115999]

1714115999

[niner]

Date of ether sale has not yet been announced.

Source: Go to ethereum.org and click on status.

ether sale

We have not yet announced the date nor the terms of our upcoming Ether sale.

We will do so via our twitter feed, this blog and all our other social channels.

release date and mining

We expect to launch our live mainnet in Q4 2014. All Ether generated on the testnet is 'play Ether' and is reset regularly to prevent its resale.

[compmaster]

Ethereum is not a coin.

You guys don't even understand.

It is going to change the world.

Ethereum is the base in which other apps get built on top of.

[pabloangello]

If launch is expected at Q4 2014 so what most of the community here will do about Ethereum? Speculating and waiting?

[naaktslak]

If launch is expected at Q4 2014 so what most of the community here will do about Ethereum? Speculating and waiting?

investing in another project. not many people want to wait that long.

[pabloangello]

If launch is expected at Q4 2014 so what most of the community here will do about Ethereum? Speculating and waiting?

investing in another project. not many people want to wait that long.

Yep I think this will become so silent like Mastercoin soon.

[Djinou94]

Invest Black coin it's better   

[TylerJordan]

mining ether is already possible?

I heard on LTB today that they'd start selling ether very soon -- like within a month.

[superresistant]

Ethereum is not a coin.
You guys don't even understand.
It is going to change the world.
Ethereum is the base in which other apps get built on top of.

That's what I was saying. You cannot have a working cryptoplatform when the blockchain is overbloated by thousand of stupid apps that create millions of transactions.
If it is not working on Bitcoin, it will not work on Ethereum.
If it was possible, it would be on Bitcoin or Ethereum would have been released already.

[TwinWinNerD]

mining ether is already possible?

I heard on LTB today that they'd start selling ether very soon -- like within a month.

That is not gonna happen... It is Q4 or later...

[ffssixtynine]

mining ether is already possible?

I heard on LTB today that they'd start selling ether very soon -- like within a month.

That is not gonna happen... It is Q4 or later...

I was at an Ethereum meet last night. The sale will happen next quarter, expected to be within a month (so said an Ethereum team member). Ethereum itself won't be ready until Q4 earliest, and even then it'll be very early days.

[TwinWinNerD]

mining ether is already possible?

I heard on LTB today that they'd start selling ether very soon -- like within a month.

That is not gonna happen... It is Q4 or later...

I was at an Ethereum meet last night. The sale will happen next quarter, expected to be within a month (so said an Ethereum team member). Ethereum itself won't be ready until Q4 earliest, and even then it'll be very early days.

Ok but then this is news. Until recently the word was that it will be in Q4.

Also i am not sure how i feel about investing in one month and receiving something in Q4 and then being restricted from selling it for XX months

[ffssixtynine]

Ok but then this is news. Until recently the word was that it will be in Q4.

Also i am not sure how i feel about investing in one month and receiving something in Q4 and then being restricted from selling it for XX months

I can only say what was told to people last night. Maybe there is some confusion over when you can invest and when you can actually use Ethereum because that's Q4.

I'm pretty sure you can still sell, but you can't use ether so you would sell your investment rather than your actual ether. If that makes sense.

As an investment it's going to be very risky for a lot of reasons. I'll be interested to see what they put together for the actual offer.

[yidian]

Ok but then this is news. Until recently the word was that it will be in Q4.

Also i am not sure how i feel about investing in one month and receiving something in Q4 and then being restricted from selling it for XX months

I can only say what was told to people last night. Maybe there is some confusion over when you can invest and when you can actually use Ethereum because that's Q4.

I'm pretty sure you can still sell, but you can't use ether so you would sell your investment rather than your actual ether. If that makes sense.

As an investment it's going to be very risky for a lot of reasons. I'll be interested to see what they put together for the actual offer.

So, how can I sell it? any exchange available at that time?

[pabloangello]

What will determine the starting price of ethereum?

[astor]

This coin looked really exciting, but after thinking about this for 5 minutes, I have some questions:

1. The VM is too low level, efficient algorithms cannot be used.

It seems that contracts will have to use a fixed number of instructions.  If a contract tries to use any randomized data structure or any structure that is not completely deterministic, then it is vulnerable to DoS.  Any contract that tries to keep some ethers stashed away in order to use algorithms that work well on average is vulnerable to DoS.

This indicates to me that the VM should be at a higher level where concepts such as collections of items, priority queues etc. are available.  The implementation can then use efficient data structures, making contracts more versatile and cheaper for everybody.

This doesn't just move the DoS problem to miners.  Miners can change the implementation of these data structures dynamically or at will.

This inefficiency means that a competing implementation of this idea will have better applications.


2. How are contracts updated when resource pricing changes?

When the developers choose to change the fees, how can contracts be updated?  If a business is started based on a given contract, and the developers change the base fee, the business might be killed.  This makes the setting of the base fee a highly controversial issue, potentially with lawsuits from businesses relying on this.

This is complicated by contracts carrying state.  An incumbent gets an advantage by knowing the current resource prices.

3. Extra pricing for reading foreign memory runs counter to a robust security architecture for contracts.

For complex services implemented as contracts, it would be desirable to isolate subcomponents or services as separate contracts.  The extra cost incurred by doing proper isolation of the memory space means that a competing service with a worse security architecture needs lower fees.  This is bad.

4. Is reliable time available to contracts?

Without reliable time, no specific time can be given for elections, which renders them useless.

[superresistant]

This coin looked really exciting, but after thinking about this for 5 minutes, I have some questions:
1. The VM is too low level, efficient algorithms cannot be used.
It seems that contracts will have to use a fixed number of instructions.  If a contract tries to use any randomized data structure or any structure that is not completely deterministic, then it is vulnerable to DoS.  Any contract that tries to keep some ethers stashed away in order to use algorithms that work well on average is vulnerable to DoS.
This indicates to me that the VM should be at a higher level where concepts such as collections of items, priority queues etc. are available.  The implementation can then use efficient data structures, making contracts more versatile and cheaper for everybody.
This doesn't just move the DoS problem to miners.  Miners can change the implementation of these data structures dynamically or at will.
This inefficiency means that a competing implementation of this idea will have better applications.
2. How are contracts updated when resource pricing changes?
When the developers choose to change the fees, how can contracts be updated?  If a business is started based on a given contract, and the developers change the base fee, the business might be killed.  This makes the setting of the base fee a highly controversial issue, potentially with lawsuits from businesses relying on this.
This is complicated by contracts carrying state.  An incumbent gets an advantage by knowing the current resource prices.
3. Extra pricing for reading foreign memory runs counter to a robust security architecture for contracts.
For complex services implemented as contracts, it would be desirable to isolate subcomponents or services as separate contracts.  The extra cost incurred by doing proper isolation of the memory space means that a competing service with a worse security architecture needs lower fees.  This is bad.
4. Is reliable time available to contracts?
Without reliable time, no specific time can be given for elections, which renders them useless.

Well said astor.

In case people don't understand, Ethereum project want to make the impossible. Simple as that.

You can have all the faith and hope, if Ethereum project can't be done, it can't be done.

I know it is hard to accept it because of all the great promises of "changing the world and blabla" but you better forget about it and go on.

PS : That's just my opinion. Keep waiting for the messiah if you like.

[mickyd]

sorry for the ignorance, but when begin the fundraising?

[mlwlxz]

sorry for the ignorance, but when begin the fundraising?

+1
Have a little understanding of the Ethereum Ecosystem

[greentea]

I was at an Ethereum meet last night. The sale will happen next quarter, expected to be within a month (so said an Ethereum team member). Ethereum itself won't be ready until Q4 earliest, and even then it'll be very early days.

Classic IPO ... investing in an idea before anything is done, they have to pay all their founders, staff, and partners somehow.  What's the premine at these days?