[RFC] æthereum: a turing-complete coin distributed as per bitcoin's blockchain

[YarkoL]

I imagine that we could see a wide range of distribution models, including weighted models that adjust for age or difficulty or some other metric.

Interestingly, these models can probably best be implemented on Ethereum (or its spin-offs).

[Adrian-x]

This distribution method would give Satoshi control over every market, not just over Bitcoin's market.

No you can spin-off to only addresses containing unspent outputs generated between block X and Y and Satoshi won't get any.

[cypherdoc]

This distribution method would give Satoshi control over every market, not just over Bitcoin's market.

no, the same % of the altclone market that he already has in the Bitcoin market.

[Adrian-x]

This distribution method would give Satoshi control over every market, not just over Bitcoin's market.

no, the same % of the altclone market that he already has in the Bitcoin market.

Yes thinking about it he has potential energy in the Bitcoin market not control.

Still the argument in my view is mute just make 2 spin-offs, let the market choose, I think it's obvious but who knows it may fly.

After all I'm swapping fiat for Bitcoin because the bankers with mountains of fiat can't do the same, some may feel like Satoshi is the equivalent problem in Bitcoin like the bank's of today in fiat and choose an alt over Bitcoin. 

I'm happy to leave it to the market, and encourage diversity.

[rapport]

Who's the team ?

[Tobo]

1 - will the coins I receive depend on my current btc account balance or the btc amount spent before in this account?

2 - can I claim multiple btc accounts?

3 - how can I sign the signature if I use coinbase wallet?

[Peter R]

It's a great idea, but falls into the trap that so many great technical ideas have - it expects the human behaviour part of the plan to simply fall into place.

Cryptocoins are nothing without adoption.

Indeed, cryptocoins are nothing without adoption.  The spin-off technique is a method to achieve the largest built-in potential user base, based around a coin distribution that we know to be efficient for the largest cryptocurrency (bitcoin).

Please remember that this is an experiment.  We don't know how the general spin-off technique will play out in practice, nor do we know how important promotion of the spin-off's "launch" is.  On the one hand, if the "launch" is poorly advertised, then there are less potential buyers but there are also less potential sellers.  If the launch is widely promoted, then there are more potential buyers but also more potential sellers.  

As smooth pointed out, if you believe the conditions for Coase's theorem hold, one could argue that the market would likely favour the spin-off because there are less trading costs needed to achieve an efficient distribution (and zero IPO costs)

http://en.wikipedia.org/wiki/Coase_theorem

[bahatassafus]

What about BTC I hold at an exchange? Would I need to move all my BTC to a personal BTC wallet before nucleus?

that you should do regardless

[bahatassafus]

How will you prevent multiple addresses signing on the same coins?

[smooth]

How will you prevent multiple addresses signing on the same coins?

There will be a specified block number. The address holds the coins as of that block number is the one that gets to redeem.

[crimealone]

So the more btc you own, the more æther you will get. Right?

[l4p7]

Sorry but this is crap. For it to work you (the developers) would need to be better at developing and maintaining the ethereum services than the origional Ethereum theam (induding their supporting community). Now is there a dev team plus a supporting community for every innovative altcoin?

Edit: Plus you ad a bad token distribution which is bad for security if it is a POS project....

any contra arguments?

[cypherdoc]

So the more btc you own, the more æther you will get. Right?

Yes.

The greater proportion of Bitcoin you own, the greater proportion of aether you will receive.

[cypherdoc]

Sorry but this is crap. For it to work you (the developers) would need to be better at developing and maintaining the ethereum services than the origional Ethereum theam (induding their supporting community). Now is there a dev team plus a supporting community for every innovative altcoin?

Edit: Plus you ad a bad token distribution which is bad for security if it is a POS project....

any contra arguments?

Because it is a clone of the open source code, the original and successive versions will be copied.

[YarkoL]

Sorry but this is crap. For it to work you (the developers) would need to be better at developing and maintaining the ethereum services than the origional Ethereum theam (induding their supporting community). Now is there a dev team plus a supporting community for every innovative altcoin?

Edit: Plus you ad a bad token distribution which is bad for security if it is a POS project....

any contra arguments?

Because it is a clone of the open source code, the original and successive versions will be copied.

What kind of counterargument is this?

What would give a coin more value: a) dedicated dev team that can expand and elucidate on the coin's feature set or b) some cloner?

[GTO911]

Why is this SCAM getting so many view? I WARN all the noobs again, this scam will suck hard earned money out of your pockets and give it to bitcoin bagholders. STAY AWAY!

[Peter R]

Why is this SCAM getting so many view? I WARN all the noobs again, this scam will suck hard earned money out of your pockets and give it to bitcoin bagholders. STAY AWAY!

Thank you for expressing your concern GTO911.  

My recommendation for members new to our cryptocurrency community is to simply do nothing.  By holding bitcoin, you will automatically be granted the same % of aether.  If aether takes off, you piggyback all the gains; if aether crashes and burns, you had nothing at risk.

I would recommend that GTO911 sell his share of aether if he believes it to be a scam: he essentially gets "free money" if he believes aether to be valueless.  If he is willing to sell it for cheap enough, some people might be tempted to take a nibble in case it works out.  

[smooth]

What would give a coin more value: a) dedicated dev team that can expand and elucidate on the coin's feature set or b) some cloner?

Neither. From the users' point of view they are the same.

[YarkoL]

What would give a coin more value: a) dedicated dev team that can expand and elucidate on the coin's feature set or b) some cloner?

Neither. From the users' point of view they are the same.

In principle. But in practice the human perception of one as the clone and the other as the original could be a factor.

I don't know - I sort of like the idea as a service for coin developers, but reading the posts it looks like you guys are more delighted by the threat aspect of the scheme, and this for me is a turn-off, and I may not be the only one.

[smooth]

What would give a coin more value: a) dedicated dev team that can expand and elucidate on the coin's feature set or b) some cloner?

Neither. From the users' point of view they are the same.

In principle. But in practice the human perception of one as the clone and the other as the original could be a factor.

I don't know - I sort of like the idea as a service for coin developers, but reading the posts it looks like you guys are more delighted by the threat aspect of the scheme, and this for me is a turn-off, and I may not be the only one.

I'm all for developers doing innovative things. Pre-mines that attempt to line their pockets from day zero whether or not they actually add any value to the project going forward not so much.

There are better business models, and I hope developers adopt them.