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Author Topic: [ANN] Ethereum: Welcome to the Beginning  (Read 1822200 times)
Eadeqa
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July 23, 2014, 11:30:34 AM
 #1621

1. What is the total amount of ETH that will be created ever ?

This number is not fixed. It depends  on how many are bought in the presale 42 days.



like with Fiat and the Fed  Roll Eyes

No, nothing like that. The percentages are fixed .. the exact number isn't as that depends on how many are bought by initial purchaser in the pre sale period

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July 23, 2014, 11:41:04 AM
 #1622

Is it me or does this line ring alarm bells?

"The Ether will not exist until the developers mine the Genesis block, which they anticipate happening in the winter of 2014-2015"
From http://www.cryptocoinsnews.com/news/ether-fuel-ethereum-project-can-now-pre-ordered/2014/07/23

I think Ethereum is super interesting , but on a personal level there is no way I am locking in my BTC for that long.
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July 23, 2014, 11:44:34 AM
 #1623

I dont know I think this could end up abandoned by the mainstream because it seems way to huge and complex, wereas Bitcoin is just extremely simple and does what needs to be done.

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July 23, 2014, 12:01:29 PM
 #1624

For the non-techie among us, would I be able to install alpha release of the testnet client on my Win 8? Some guidance would be helpful.  What does all this mean? "two official clients released at the same time, with one written in C++ and the other in Go; a Python client is also in the works. A compiler from the Ethereum CLL to Ethereum script will be released very soon."

see if this helps..
http://dr-pra.tumblr.com/post/73526554416/build-and-run-the-ethereum-go-client-on-windows

Are you not worried about: "Also be aware that this is still unreleased software and can cause severe damage on your machine. Use at your own risk!"?  Should I be? 

I have  64-bit OS.  Am I out of luck?  "Download the Go Windows 32-Bit Distribution and run the installer. As of now this guide does not cover 64-Bit installations as it causes some problems compiling the secp256k1 library."

ofc not, the programm runs on 32 bit.
when u have a 64bit os u can run 64bit AND 32bit

Bitcoin: 1GPjrqoWGQfqyCEYnPhbA3nWN9dmMwFHRE
Elementrem: 0xF4789b95826C4474B3E7C780Fd90f639b51C4B6c
multibit
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July 23, 2014, 12:09:00 PM
 #1625

1. What is the total amount of ETH that will be created ever ?

This number is not fixed. It depends  on how many are bought in the presale 42 days.



like with Fiat and the Fed  Roll Eyes

No, nothing like that. The percentages are fixed .. the exact number isn't as that depends on how many are bought by initial purchaser in the pre sale period

Don't need this kind of uncertainty as in investor. Safer to buy other shxt coins.

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July 23, 2014, 12:23:32 PM
 #1626

1. What is the total amount of ETH that will be created ever ?

This number is not fixed. It depends  on how many are bought in the presale 42 days.



like with Fiat and the Fed  Roll Eyes

No, nothing like that. The percentages are fixed .. the exact number isn't as that depends on how many are bought by initial purchaser in the pre sale period

Don't need this kind of uncertainty as in investor. Safer to buy other shxt coins.

Based on these figures :
current purchased amount of 7m
10% is for sale then 70m Total.
current price 2000 ETH per BTC = 0.0005BTC per ETH
then this is 1/30 price of Litecoin or 15% price of darkcoin


But if the sales continue for another 2 months then total purchased could be 20m ?

well it might just be a bit over priced



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July 23, 2014, 01:07:50 PM
 #1627

1. What is the total amount of ETH that will be created ever ?

This number is not fixed. It depends  on how many are bought in the presale 42 days.



like with Fiat and the Fed  Roll Eyes

No, nothing like that. The percentages are fixed .. the exact number isn't as that depends on how many are bought by initial purchaser in the pre sale period


100% of total amount are distributed during the IPO?

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July 23, 2014, 01:45:47 PM
 #1628

Why does a platform that can have services built on it need a currency? Can someone explain this to me?
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July 23, 2014, 01:52:33 PM
 #1629

Can I buy ether multiple times from the same email address?

Or do I need to make one bulk purchase?

Thanks,

Apologies for the delay in replying. Only one of me, many questions. Looking forward to the AMA tonight Smiley

You can purchase ether multiple times, with the same email. Just use a different password to be safe. Don't lose your wallet or password! Keep them very safe. Cheers!

Ethereum Twitter: @ethereumproject - Blog: blog.ethereum.org - Forum: forum.ethereum.org - Github: github.com/ethereum
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July 23, 2014, 01:53:50 PM
 #1630

I understand Ether is not a coin, it's a basically a token to use on the Ethereum blockchain in order to initiate any implementation.
Is that basically correct?

What methods will be available for determining Ether value (in BTC or fiat) after the Ether pre-sale is finished, and what avenues will be available to sell Ether for BTC or fiat after the pre-sale is finished. Will Ether be traded on exchanges?

As far as I understand it, there is nothing that prevents exchanges from adding Ether to their sites. This is a questions for the exchanges Smiley

Ethereum Twitter: @ethereumproject - Blog: blog.ethereum.org - Forum: forum.ethereum.org - Github: github.com/ethereum
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July 23, 2014, 01:55:09 PM
 #1631

ETH will run as POW after IPO?

As per our DEV plan (located on our site, as a pdf):

Consensus - As discussed above, consensus algorithms are far from perfect. The plan to solve the problem with blockchain-based proof-of-work (PoW) and random computation trees appears promising, but ultimately version 1.0 of a protocol of this form may well fail to bear the brunt of attacks in the long term. An ideal algorithm, one that is both socially cost-free or cost-negative and promotes a high level of decentralization and security, will likely require a combination of novel approaches such as transactions-as-PoS (proof-of-stake), delegated-PoS, useful PoW, next-generation centralization/ASIC-resistant PoW and maybe even more exotic strategies involving bandwidth and storage. Developing such an algorithm, and making sure that it actually works, is an important priority for securing the blockchains of tomorrow.

Ethereum Twitter: @ethereumproject - Blog: blog.ethereum.org - Forum: forum.ethereum.org - Github: github.com/ethereum
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July 23, 2014, 01:55:39 PM
 #1632

No cap on sales, I take it? Approx. 14 days at current price, regardless of how many sell between now and that 14 days, correct?

Correct

Ethereum Twitter: @ethereumproject - Blog: blog.ethereum.org - Forum: forum.ethereum.org - Github: github.com/ethereum
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July 23, 2014, 01:58:04 PM
 #1633

Devs cancelled the first IPO in order to work on details and come up with a decent IPO plan. Instead they've just started IPO with no info whatsoever. Maidsafe investors got about 20000 coins for 1 BTC, devs set a cap but still investors are pretty much fucked. Ethereum devs only offer 2000 for 1 BTC, didn't set a cap, didn't post any info about total amount of coins, mining plan, devs stake ect. Looks like another big disappointment: eMunie, Maidsafe, Ethereum.


You'll be then pleased to hear there is no IPO. To quote Joseph:

"Our sale is structured differently from sales or fundraising events conducted by other groups in the space. We are not conducting an IPO. We are not selling shares in anything. Ether (ETH), the product we are selling, has no voting or any other kind of rights and does not entitle anyone to dividends or any sort of future gains.

Ether is a necessary element -- a fuel -- for operating the computational "appliance" we are building. Without the requirement of payment of ether for every computational step and storage operation of the system, infinite loops or excessive storage demands could bog down the system and effectively destroy it.

People can download the software appliance and run it on their computers and it will do certain basic things like perhaps showing them a catalog of available apps. If they want more functionality, like running a DApp or uploading and testing DApps that they have written, they will have to feed fuel into the machine.

Under Swiss law, where Ethereum Switzerland GmbH is based, the product we are selling is classified as a software product. And we are conducting a pre-sale for this product since we are not yet able to manufacture it.

People who are interested in acquiring it to build and upload DApps or to pay for their usage of DApps are enabled in the pre-sale to buy ETH for BTC and lock in their supply of it at a known price. These sales will help us to fund the continued construction of the software platform (the computational appliance) that requires ETH and that will continually create ETH starting at the moment the genesis block is released. Once the initial batch of ETH is created in the genesis block and ready for delivery, people who have purchased some in the pre-sale will be able to claim their product.
"

As for information, there are 5 pdf documents that in excruciating details explain everything about what we are doing, what we've done, and what we are planning to do.

Ethereum Twitter: @ethereumproject - Blog: blog.ethereum.org - Forum: forum.ethereum.org - Github: github.com/ethereum
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July 23, 2014, 01:59:43 PM
 #1634

Why does a platform that can have services built on it need a currency? Can someone explain this to me?

The first thing that comes to mind is that it is a fundraiser for the devs. (Fair enough to a point.)
The next thing is that if BTC becomes the defacto currency you will be limited by it's confirmation times (slower) and such. You can look at Counterwallet's confirmation times between BTC (slow) and XCP (fast) to see my point.
Sure others will jump in here...

BTC = Black Swan.
BTC = Antifragile - "Some things benefit from shocks; they thrive and grow when exposed to volatility, randomness, disorder, and stressors and love adventure, risk, and uncertainty. Robust is not the opposite of fragile.
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July 23, 2014, 02:02:28 PM
 #1635

These are all linked from our website, but just in case:

To learn more about ethereum:

https://www.ethereum.org/pdfs/EthereumWhitePaper.pdf

For development specifications:
https://www.ethereum.org/pdfs/Ethereum-Dev-Plan.pdf

Ethereum Roadmap:

https://www.ethereum.org/pdfs/Ethereum-Roadmap.pdf

To learn more about our plans:
https://www.ethereum.org/pdfs/IntendedUseOfRevenue.pdf

Terms of ether sale:

https://www.ethereum.org/pdfs/TermsAndConditionsOfTheEthereumGenesisSale.pdf

Ether Product Purchase Agreement:
https://www.ethereum.org/pdfs/EtherProductPurchaseAgreement.pdf

Ethereum Twitter: @ethereumproject - Blog: blog.ethereum.org - Forum: forum.ethereum.org - Github: github.com/ethereum
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July 23, 2014, 02:03:59 PM
 #1636

"...nobody might be able to buy or sell except a person having the mark, the name of the wild beast or the number of its name. Here is where wisdom comes in: Let the one that has intelligence calculate the number of the wild beast, for it is a man's number; and its number is six hundred and sixty-six."-.Revelation 13:17,18

the number of the beast isn't 666 it was a miss translation, you just quote a miss translation. let me try now

Einstein- "I love's me some bitches"
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July 23, 2014, 02:05:30 PM
 #1637

This looks really interesting. Ethereum has always been one of my top 3 coins to own. (Bitcoin, Monero and Ethereum)

I really see these three existing alongside each other for many years.

I'm not sure how much I will purchase right now, I have a feeling that post IPO may experience a drop once the network goes live, however I have been wrong many times before.

I'm going to keep watching this. Smiley
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1000% ROI Masternode Coin


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July 23, 2014, 02:06:24 PM
 #1638

Holy cow this coin is 50,000 sats and hasn't even been released yet?HuhHuhHuh Shocked Shocked Shocked Roll Eyes

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July 23, 2014, 02:06:28 PM
 #1639

No cap on sales, I take it? Approx. 14 days at current price, regardless of how many sell between now and that 14 days, correct?

Correct


@Ursurium all 100% of total amount are distributed during the IPO?

ETHBITS █ EXISTING EXCHANGE UP TO 80% PROFIT SHARE █ ETHBITS
COPY PROFESSIONAL TRADERS  ▩▬▬▬▬▩  COPY TRADING EXCHANGE
◥▔◥▔◥▔◥▔◥▔◥▔◥  ROAD MAP  ꞁ  JOIN ICO  ◤▔◤▔◤▔◤▔◤▔◤▔◤
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July 23, 2014, 02:07:17 PM
 #1640

Holy cow this coin is 50,000 sats and hasn't even been released yet?HuhHuhHuh Shocked Shocked Shocked Roll Eyes

Yes I think thats because it hasn't been fully released yet.

Currently held as collateral by monbux
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