Ethereum IPO reboot coming, time to get nervous about the future of crypto

[marcelus]

I have to say, I think the Blockchain is great and all and it's no doubt fantastic for recording Bticoin transaction and potentially for indelibly recording other things as well but I think some of the claims and aspirations seem to be overblown and heading into hyperbole. "Unbreakable contracts"? "enforced by the blockchain"? Sorry, no. Once you step out into the real world, any contract can be broken simply by walking away and enforcement is done by men with guns. Possibly this is just not communicating the message properly but I suspect there's not a small amount of disingenuity in there also.

You misinterpreted me. The blockchain ensures transparency and public auditability during a crypto IPO. It is the courts that enforces the contract between the Ethereum foundation and its investors. This has nothing to do with the blockchain. I never claimed otherwise.

http://etherscripter.com/what_is_ethereum.html

Yes that's when Ethereum is launched and people use it. And their claims are correct. I was merely talking about the IPO, which is different, as the contract cannot be enforced by the bitcoin blockchain. It can be only regulated and audited.

So now that I know what you were referring to, I say you are wrong. Every contract on the Ethereum blockchain (or bitcoin blockchain) can be enforced by the blockchain itself. If you have read that page, I struggle to see how you can't grasp that. Men with guns aren't required. There is no ambiguity in blockchain contracts.

[slaveforanunnak1]

 When you're dealing with this massive number of people, it's obviously no longer an open source p2p currency project, but an actual corporation looking to make mega bucks.

I watched the video and they said "Turing Complete" 3 times in seven minutes...

My intuition tells me that this is a corporate+geek pre-mine IPO scam...

Buterin knows his tech stuff, but he's in over his head: the blockchain is not that cool of an innovation.

This planned grand architecture will do roughly what GNU Hurd has done - NADA.

HAHHAHAHAHAHAHHAHAAAAAAAAAAAAHAHAHHAHAHAHAHAHHA
are you fking serious?

[slaveforanunnak1]

Biggest scam in Human History.

you clearly have to do more research in "history" if you really think this is the biggest scam! the biggest scam in history is the fucking FED

[slaveforanunnak1]

The trouble with a huge IPO or pre-sale is the fact it's being conducted in a lawless wild west free market saturated with scammers and thieves.

and if that is not the no. 1 concern for people then your all brain damaged big time.

this isn't the New York Stock exchange with regulators and laws and protection mechanisms in place..
instead we're in a scene we're your free to pull any kind of scam you want and it's even encouraged !
..just so long as *some of the participants make *some money then ANYTHING is fair game.

this is wrong .

and Crypto-Excuses™ and verbal gymnastics run rampant just as Hitler did stuffing millions of Jews in a gas chamber !
Nothing changes.. BAD behavior.. justified.

crowd fund and angel invest my ass IPO douche bags !

Are you talking about those regulations that helped us avoid the 2008 market crash! or the MF global scandal??

yes.. lets bring natzis into the mix! you sir are a supreme idiot.

[slaveforanunnak1]

Stop bitching and moaning. Don't like idea? stay away... Like the idea and want to support the development? help...

It is as simple as that. We're all grown ups here (I suppose?) to know where you can put your money and what you can afford to lose...

I'm giving away some btc and don't give a f*ck if I lose them... this is how I see it.

DUDE.. EXACTLY!!!

[slaveforanunnak1]

I have to say, I think the Blockchain is great and all and it's no doubt fantastic for recording Bticoin transaction and potentially for indelibly recording other things as well but I think some of the claims and aspirations seem to be overblown and heading into hyperbole. "Unbreakable contracts"? "enforced by the blockchain"? Sorry, no. Once you step out into the real world, any contract can be broken simply by walking away and enforcement is done by men with guns. Possibly this is just not communicating the message properly but I suspect there's not a small amount of disingenuity in there also.

I don't think you fully understand how this will work! I'll make it very simple!
i'll write a contract with you, a bet lets say, that the seahawks will win the superbowl again!
If you participate in this contract, then you will send .5 BTC or 1000 Ethers or 200000000000 derp coins to the blockchain and so will I. The program/code will figure out who won by communicating to the internet, and BAM! the winner will will receive those coins to their address! simple as that! see how that works? no guns, no men, no bukkake!

keep calling it a "alt-coin"
lol

[bitdig]

Just a small tune up... You send 0.5 bitcoin or 20000 ether if it will be next year, all the rest is correct...

I have to say, I think the Blockchain is great and all and it's no doubt fantastic for recording Bticoin transaction and potentially for indelibly recording other things as well but I think some of the claims and aspirations seem to be overblown and heading into hyperbole. "Unbreakable contracts"? "enforced by the blockchain"? Sorry, no. Once you step out into the real world, any contract can be broken simply by walking away and enforcement is done by men with guns. Possibly this is just not communicating the message properly but I suspect there's not a small amount of disingenuity in there also.

I don't think you fully understand how this will work! I'll make it very simple!
i'll write a contract with you, a bet lets say, that the seahawks will win the superbowl again!
If you participate in this contract, then you will send .5 BTC or 1000 Ethers or 200000000000 derp coins to the blockchain and so will I. The program/code will figure out who won by communicating to the internet, and BAM! the winner will will receive those coins to their address! simple as that! see how that works? no guns, no men, no bukkake!

keep calling it a "alt-coin"
lol

[slaveforanunnak1]

^^ could you elaborate?

[Fernandez]

I don't see at all how this is any good for investors. If one is paying for this imagining he is doing it for the greater good and changing the world then thats fine. But I bet most are investing hoping for a huge profit.

This is one IPO which in its original avatar raised a lot of flags in my head. I will just wait for a competent group (like the XCP guys) to fork it.

[marcelus]

I don't see at all how this is any good for investors. If one is paying for this imagining he is doing it for the greater good and changing the world then thats fine. But I bet most are investing hoping for a huge profit.

This is one IPO which in its original avatar raised a lot of flags in my head. I will just wait for a competent group (like the XCP guys) to fork it.

Any coin can be forked. That's not a valid argument specific to Ethereum.

Investing in Ethereum is a good for its investors because if it works, it will likely swallow up every coin out there - including bitcoin. Why? Because it is a far more powerful proposition than anything else that exists right now.

[bitdig]

"0.5 BTC or 1000 Ethers" - Its in today's "rates"!
But as far as the number of total "ether" coins is not caped, so in the next 4 years the number of ethers will be doubled (26% each year) and considering that bitcoin in the next 4 years will rise... lets say 5 times... you need 10 times more demand for ether coins in the next 4 years to keep ratio 1 BTC/2000 ethers....

Considering that their target to raise $30mln USD, there will be about 100.000.000 ethers coming out next 4 years. What happens if bitcoin raises 20 times during these 4 years? What kind of demand they need to create to keep ratio higher from current 1 BTC 2000 ethers?
Am I missing something?

^^ could you elaborate?

[wenben]

I don't see at all how this is any good for investors. If one is paying for this imagining he is doing it for the greater good and changing the world then thats fine. But I bet most are investing hoping for a huge profit.

This is one IPO which in its original avatar raised a lot of flags in my head. I will just wait for a competent group (like the XCP guys) to fork it.

Any coin can be forked. That's not a valid argument specific to Ethereum.

Investing in Ethereum is a good for its investors because if it works, it will likely swallow up every coin out there - including bitcoin. Why? Because it is a far more powerful proposition than anything else that exists right now.

It appears that the supply of coin is controlled by developers. Should demand go up, what stop them from creating more?

[marcelus]

I don't see at all how this is any good for investors. If one is paying for this imagining he is doing it for the greater good and changing the world then thats fine. But I bet most are investing hoping for a huge profit.

This is one IPO which in its original avatar raised a lot of flags in my head. I will just wait for a competent group (like the XCP guys) to fork it.

Any coin can be forked. That's not a valid argument specific to Ethereum.

Investing in Ethereum is a good for its investors because if it works, it will likely swallow up every coin out there - including bitcoin. Why? Because it is a far more powerful proposition than anything else that exists right now.

It appears that the supply of coin is controlled by developers. Should demand go up, what stop them from creating more?

It is not controlled by the developers.

[arbitrage001]

I don't see at all how this is any good for investors. If one is paying for this imagining he is doing it for the greater good and changing the world then thats fine. But I bet most are investing hoping for a huge profit.

This is one IPO which in its original avatar raised a lot of flags in my head. I will just wait for a competent group (like the XCP guys) to fork it.

Any coin can be forked. That's not a valid argument specific to Ethereum.

Investing in Ethereum is a good for its investors because if it works, it will likely swallow up every coin out there - including bitcoin. Why? Because it is a far more powerful proposition than anything else that exists right now.

It appears that the supply of coin is controlled by developers. Should demand go up, what stop them from creating more?

It is not controlled by the developers.

The IPO thing they are doing right now. Where is the ether coming from?

Did they say how many they are going to create?

[marcelus]

The IPO is for a fixed amount of days. The amount of Ether created is exactly equal to the amount demanded by investors. Its market cap will be what the market decides. The Ethereum developers have zero say in this.  

[arbitrage001]

The IPO is for a fixed amount of days. The amount of Ether created is exactly equal to the amount demanded by investors. Its market cap will be what the market decides. The Ethereum developers have zero say in this.  

Good luck to the investors then.

[gustav]

The IPO is for a fixed amount of days. The amount of Ether created is exactly equal to the amount demanded by investors. Its market cap will be what the market decides. The Ethereum developers have zero say in this.  

Good luck to the investors then.

they are not 'investors' - they are buyers of a product. It was made very clear by the ethereum-guys that no gains should be expected.


the thing that hurts is: the btc you throw at them will probably be worth 3 times what they are now by the time ethereum is MAYBE released.
If i was a buyer of ethereum i would not expect to get more btc back. If you bought eth with the goal of making more btc then i have bad news for you.

[slaveforanunnak1]

The IPO is for a fixed amount of days. The amount of Ether created is exactly equal to the amount demanded by investors. Its market cap will be what the market decides. The Ethereum developers have zero say in this.  

Good luck to the investors then.

they are not 'investors' - they are buyers of a product. It was made very clear by the ethereum-guys that no gains should be expected.


the thing that hurts is: the btc you throw at them will probably be worth 3 times what they are now by the time ethereum is MAYBE released.
If i was a buyer of ethereum i would not expect to get more btc back. If you bought eth with the goal of making more btc then i have bad news for you.

no, didn't buy eth so i can make btc. Bough some (SOME, didn't sell the goat to buy btc) to help support a project that i believe can help out humanity.

If i lose that money, it's fine! I pretened I played a poker game and lost! I don't invest what i can't lose.

[vlight]

The IPO is for a fixed amount of days. The amount of Ether created is exactly equal to the amount demanded by investors. Its market cap will be what the market decides. The Ethereum developers have zero say in this.  

Good luck to the investors then.

they are not 'investors' - they are buyers of a product. It was made very clear by the ethereum-guys that no gains should be expected.


the thing that hurts is: the btc you throw at them will probably be worth 3 times what they are now by the time ethereum is MAYBE released.
If i was a buyer of ethereum i would not expect to get more btc back. If you bought eth with the goal of making more btc then i have bad news for you.

I disagree. BTC is just a means to get ether. Better count your ROI in terms of USD or XAU.

[ChuckOne]

Investing in Ethereum is a good for its investors because if it works, it will likely swallow up every coin out there - including bitcoin. Why? Because it is a far more powerful proposition than anything else that exists right now.

Proof?

I raised plausibility questions some time ago and nobody has answered them yet. It seems you can explain what the main technical benefit of Ethereum is.