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Ursium represents us in this thread.

Categorically, no.

From Charles Hoskinson:

"We have two people on our team who started their financial careers- as many thousands have done- at Goldman Sachs. They have both since left and started other ventures. In both cases those were hedge funds. Joe retired and moved to Jamaica to be in the music industry and came out of retirement to join us. Costa went to university of Edinburgh to study LCS's relationship to finance for a PhD in Quantitative Finance. He is now running a hedge fund in Kyrgyzstan as well as building a full clearing house in etherscript.

We have no relationship with Goldman Sachs nor are they an investor. I wouldn't take their money if offered. I have great respect for their knowledge of the financial industry as well as quality of talent, but no respect for their business practices or questionable conduct."

What prevents to make a fork of Ethereum and reset all the fees to zero?

Is there a 50% premine of ethereum or is that a rumor? 

We are testing an endowment and new type of VC model with the Ethereum launch and thus some of the initial Ethereum supply with be premined to allow for compensation of early stakeholders, strategic partners and also the long term health of the Ethereum Project. There numbers will all be disclosed in the business plan and prospectus released prior to the fundraiser for community review alongside a full explanation why we think they are necessary and the vesting terms. Our hope is to leave a template for future projects in this space to use to do things in a fair, accountable and transparent way without having to soliciting funding from angels, VCs or other actors traditionally inaccessible to many billions of people.

We will also release our plans for the conversion of the Ethereum Project's fiduciary hub into a decentralized autonomous organization living completely on the Ethereum blockchain. This also is another template we are planning on well distributing. We want people to use the DAO model for their business and NPO pursuits and use our funding model to get them bootstrapped.  

A feeless system would be vulnerable to the halting problem and thus cannot compete with a fee system. Also a fork of this nature would likely honor the original ownership structure and thus have no impact upon purchasers and early stakeholders of ethereum.

I would also like to point out that Ethereum does more than just enable DAOs. It also can be used for things like gambling, smart property, contracts and linking cryptocurrency infrastructure together.  Larger DAOs will likely have independent economic models and use ether to link to other entities in a trustless way.

How r blockchain reorgs handled? Computational steps can't be rolled back nor blockchain can be re-rolled from block 0, so u r supposed to store blockchain snapshots each N-th block, which is quite expensive.
Can't a Finney attack be combined with a very long-running transactions to DoS all nodes? If a miner earns all block fees then even without a Finney attack a malicious miner could include a lot of long-running transactions into their block to slow down processing of the next block / transactions.

Under the original model we proposed in the whitepaper for ether supply followed this function:
TS(t) = 1.5X + 0.5X*t with x being the supply created from the initial ether sale and t being time in years. This function is not bounded, but the rate of ether supply growth decreases monotonically. The goal was to divest percentagewise the initial participants in the ether sale via inflation assuming the demand would increase non-linearly thus inferring an increase in the price of ether relative to the initial sale price.

We are now investing a great deal of time in modeling the ether supply and have been considering a model that consumes ether in Txs instead of reallocation. This would eventually result in a supply equilibrium point. Once we have a bit more maturity in the mathematical models, we'll post them on github and you're welcome to review them. We'd also like to get a clear sense of ROI to demand and how our business strategy fits with increasing demand so I can list ranges of potential outcomes in the prospectus prior to the launch of the ether sale.  


Reserved for V

Thanks for the clarification about the fees, I get it know.

Do you still plan to lock in initial investors for at least 1 year and prevent them to sell more than 1/3 per year? If so what's the purpose of doing that? Is it not inconsistent with inflating the money supply in order to divest initial investors?