Ethereum Ether Pre-Sale Begins

[datz]

https://peercover.com/#/simpleGateway

Peercover is now offering Ether forwards. We allow people to deposit BTC and trade ETH on the Ripple protocol before ETH is dished out.

Essentially you send us BTC and we issue ETH for you to trade on the 60k trader strong Ripple protocol. When the fundraiser begins we forward the BTC to Ethereum and allow people to withdraw the ETH when it becomes available.

We had our first deposits today and are liquid with ~6000 ETH on the open market.

There are many advantages to doing ETH forwards:

1) traders and investors may have access to tradable assets prior to, during and after any fundraiser and speculate on ETH and vicariously the Ethereum project.

2) we provide a simple way to obtain and track ETH assets while Ethereum's methodology of distribution will be more complex and non liquid with no exchange at the beginning.

3) we may even be able to get bulk discounts on ETH with bulk BTC saved up from forwards and pass on these savings to the holders of the forwards.

[roslinpl]

Good offer it seems!

Good luck with sells!

[datz]

Good offer it seems!

Good luck with sells!

Thanks! We are doing our best to serve the community with support from Ethereum!

[freet0pian]

Good offer it seems!

Good luck with sells!

Thanks! We are doing our best to serve the community with support from Ethereum!

So are you officially endorsed by the Ethereum team?

[Smokeymar]

I have to buy 1K ETH for 1 BTC from you to start trading?  Why would I do that?

Sounds legit.

[Ursium]

Good offer it seems!

Good luck with sells!

Thanks! We are doing our best to serve the community with support from Ethereum!

So are you officially endorsed by the Ethereum team?

We're not in touch with Peercover, we're trying to make contact.

[Vitalik Buterin]

Copying my post from Reddit:

This is a bit problematic. Theoretically, we may well decide to redenominate back to 10000 ether per BTC, or 1 ether/BTC, or even some model where we release 10000000 ether and split it proportionately among buyers. So being long or especially short ether at this point in time (and someone has to be short, since a total of 0 ether have been sold/released) is insane IMO. Once we finalize the terms, however, then things like this might be viable.

Also clarifying that this platform is not affiliated with us.

[roslinpl]

Good offer it seems!

Good luck with sells!

Thanks! We are doing our best to serve the community with support from Ethereum!

Good job! You re one of two good wallets 4 android.

And I see much support

Keep it that way!

[Ursium]

Official statement from Ethereum:

Ethereum no relation with ANY exchanges. Peercover is in no way associated with us.

From the reddit:

"
There are complicated issues that we (Ethereum.org) need to resolve before we can make any clear statements about the initial ether sale. Any action taken by any individuals or groups before we release official documents is premature and may lead to a significant loss.

While we are aware of and have respect for the work peercover.com is doing, they are in no way officially associated with Ethereum Project, do no speak for it, and are, in our opinion, doing a disservice to the Ethereum Project and possibly leading their own clients into a situation that they don't understand. Offering to sell ether that doesn't yet exist, to naive purchasers, can only be considered irresponsible at this point. Buyer beware.

We request that peercover.com cease to offer ether forwards, until there is more information released on The Ethereum Project, the potential value of the ether cyptofuel, and until lawyers in various countries clarify what the securities and regulatory issues might be in selling ether to the public in various countries.

And of course, peercover.com, please feel free to reach out and discuss with us how we may work together in the future. Thank you.

[theomoplatapus]

Copying my post from Reddit:

This is a bit problematic. Theoretically, we may well decide to redenominate back to 10000 ether per BTC, or 1 ether/BTC, or even some model where we release 10000000 ether and split it proportionately among buyers. So being long or especially short ether at this point in time (and someone has to be short, since a total of 0 ether have been sold/released) is insane IMO. Once we finalize the terms, however, then things like this might be viable.

Also clarifying that this platform is not affiliated with us.

Good, I hope you don't let something like this influence your decision on how to denominate ether.  Do it the best way possible.

[tysat]

MOD NOTE:
You're not actually buying Ether if you do this, you're buying Ether that they say they will buy in the future then transfer to you.  You run the risk of losing your money if you do this.

https://peercover.com/#/simpleGateway

Peercover is now offering Ether forwards. We allow people to deposit BTC and trade ETH on the Ripple protocol before ETH is dished out.

Essentially you send us BTC and we issue ETH for you to trade on the 60k trader strong Ripple protocol. When the fundraiser begins we forward the BTC to Ethereum and allow people to withdraw the ETH when it becomes available.

We had our first deposits today and are liquid with ~6000 ETH on the open market.

There are many advantages to doing ETH forwards:

1) traders and investors may have access to tradable assets prior to, during and after any fundraiser and speculate on ETH and vicariously the Ethereum project.

2) we provide a simple way to obtain and track ETH assets while Ethereum's methodology of distribution will be more complex and non liquid with no exchange at the beginning.

3) we may even be able to get bulk discounts on ETH with bulk BTC saved up from forwards and pass on these savings to the holders of the forwards.

[AltcoinBull]

Great service, thank you Datz!

[peterzz]

test ETH?
The official version will disappear?

[datz]

Copying my post from Reddit:

This is a bit problematic. Theoretically, we may well decide to redenominate back to 10000 ether per BTC, or 1 ether/BTC, or even some model where we release 10000000 ether and split it proportionately among buyers. So being long or especially short ether at this point in time (and someone has to be short, since a total of 0 ether have been sold/released) is insane IMO. Once we finalize the terms, however, then things like this might be viable.

Also clarifying that this platform is not affiliated with us.

We are planning on simply placing a multiplier on withdrawals in the event the project changes the IPO price.

[datz]

We've looked into this instrument and have determined it is iron clad. We already have markets going. The 1000 ETH/BTC will be adjusted the moment the IPO price changes either through a withdrawal multiplier or the sending out of more ETH to addresses holding ETH (if higher ETH/BTC).

We are a legitimate organization and one of the only exchanges that did not suffer from the transaction malleability Bitcoin exploits.

We are continuing operations offering this forward instrument and am looking forward to the pleasure of facilitating this product distribution.