[ETH] Ethereum = Scam

[Nullu]

BTC DOWN TO $540?

Looks like vitalik is dumping

I mean, come on people, don't you see the resemblance?

Pirateat40/Vitalikat20

Hmmm... this is a possibility which didn't occur to most of us but could be legitimate.  What was the address of Ethereum's Bitcoin wallet?

Even if it's untouched, we both know that Ethereum is not going to sit on $20 million in some BTC wallet - they have some physical office, employees to pay, the angel investors have to be paid, et cetera.

Do they even make the BTC wallet address public? I'd be seriously concerned if they don't.

[1714708414]

1714708414

[TaunSew]

They did.  I saw it but I don't have the link for it handy.

They started dumping BTC 3 days ago but Ethereum only has $15 million and it's not really enough to cause the current drop in Bitcoin.

[Febo]

They did.  I saw it but I don't have the link for it handy.

They started dumping BTC 3 days ago but Ethereum only has $15 million and it's not really enough to cause the current drop in Bitcoin.

Of course it is, and because of drop of BTC also all altcoins started dropping. Since all are happy family except this scam of Ethrum. I hope someone sil sue Ethereum creators for all this. They have to pay what they caused!

[nzminer]

If its going to be mined, why is there an IPO?

[BlindMayorBitcorn]

How did Ethereum get round the SEC rules on selling unregistered securities, or is it registered with them?

Yes it's forgotten that Ethereum tried a sale back in January but it was cancelled when they found out it was breaking Ontario Government laws on securities and crowd funding.  No idea how they are able to renew the Ether sale without breaking laws in Canada.  I imagine Ethereum has either relocated to Switzerland or Uganda as indicated on their website.

I don't think relocating can exempt them from Canadian law, especially when prior evidence indicates it was a Canadian operation, but that doesn't matter since the laws takes years to prosecute people and Ethereum company by then could be dissolved.  Maybe Vitalik could be under house arrest like Charlie Shrem but then it's Canada so he'ld probably just get probation "don't you ever do that again young mister, oh and you can keep that $8 million you made".

Incidentally I met some of the Ethereum folks at a presentation to investors. They seemed shady, asking what was my interest in Ethereum and being all squirrrelly like they thought I was a fed.

Edit: I am not a fed.

[fivebells]

I've watched the videos and have found him creepy as fuck. His voice, his looks... I'm sure I'm not the only one who thinks this, but most people are too polite and too PC to actually say it.

Are you trying to say that ethereum is suspect because one of the developers looks gay?

[patcon]

They seemed shady, asking what was my interest in Ethereum and being all squirrrelly

I feel anyone who's attended their share of doors-open bitcoin/crypto-asset events will be familiar with that line of inquiry. After all, you've got some people in suits overplaying their importance/understanding, some people in rags who are the most interesting and/or wealthy in the room, and a couple who are genuinely crazy or otherwise unstable. But don't assume the latter, because maybe you're misreading the anti-social genius-type.

Basically: That's just how you get to the point with people in this space. There are a lot of bullshitters and the room is busy.

Disclaimer: I am acquainted with some of the Ethereum team from the Bitcoin Toronto meetups, and trust they are dedicated, passionate and intelligent people in their respective domains. So I have to assume you're projecting something silly onto them.

[identtitentti]

You think so but Governments around the world do not.  There's a reason why we have laws revolving around securities and crowd funding.  There's a lot of people investing based on emotion and frankly that's why the governments, who have spent more time thinking about this than you obviously have, have put in laws in an attempt to protect people.

Governments? Whose that guy?

FYI, the purpose of laws is not to "protect people" but to protect and benefit lawmakers, who don't follow themselves the rules they make for others. Bunch of psychopaths.

[identtitentti]

Is there any guarantee that Ethereum concept will work

There is no guarantee that there will be a tomorrow.

[robinwilliams]

How did Ethereum get round the SEC rules on selling unregistered securities, or is it registered with them?

Yes it's forgotten that Ethereum tried a sale back in January but it was cancelled when they found out it was breaking Ontario Government laws on securities and crowd funding.  No idea how they are able to renew the Ether sale without breaking laws in Canada.  I imagine Ethereum has either relocated to Switzerland or Uganda as indicated on their website.

I don't think relocating can exempt them from Canadian law, especially when prior evidence indicates it was a Canadian operation, but that doesn't matter since the laws takes years to prosecute people and Ethereum company by then could be dissolved.  Maybe Vitalik could be under house arrest like Charlie Shrem but then it's Canada so he'ld probably just get probation "don't you ever do that again young mister, oh and you can keep that $8 million you made".

Incidentally I met some of the Ethereum folks at a presentation to investors. They seemed shady, asking what was my interest in Ethereum and being all squirrrelly like they thought I was a fed.

Edit: I am not a fed.

They almost mistaked blindmayorwilliams as a fed     

[identtitentti]

Got to agree with you ,this explosion of alts has done very little  to progress Cryptocurrencies,in fact mostly negative. In the end, if this whole new world of digital currency etc is to progress, it all hinges on the success of Bitcoin,If Bitcoin fails, it will set the whole idea back many years.
If Bitcoin is to gain a footing in the global economy, that will be the time for a select few alts to find their place but until that time expect scams and failure and of course to be a bag holder.
Ethereum has potential to go side by side with  Bitcoin but Bitcoin needs to explode soon ,else within a year I expect it to go the same as all the other IPO's
initial hype and not really gaining momentum, It needs to get a market cap of ,say Litecoin, to stand a chance of breaking free or all the other crap.

Like it or not,Bitcoin is the golden goose

Nah, BTC economic model is Austrian School psychopathic lunacy with worse economic disparity than any fiat, and from what I've heard just getting worse. In wider circles beyond the few Right Wing "Libertarian" True Believers, BTC trademark is doing horrible damage to the potential of block chain tech and BTC will never get very wide participation on global scale because of that. Not to mention the fact that you can't buy a cup of coffee directly with BTC (too slow) and need a third party solution for ordinary every day transactions. I'm not saying that the speculative bubble that BTC is has been all bad, on the contrary, but that was just the first 5 years of block chain re-evolution, this year has been the beginning of next phase. It's not about "altcoins", but beginning of a whole new phase, philosophically and technologically.

[identtitentti]

If its going to be mined, why is there an IPO?

It's not a "cryptocoin".

[identtitentti]

On the other hand ethereum will be a good prototype for clones with better distribution. The clones that start from the ground up is where the profit is for the investors.

Yes, it's the actual product that matters. A block chain programming language for smart contracts. And if that succeeds, my friend, it will change everything. The question whether the smart contract network will be lubricated with ether or some alternative token is not really important. But also, so far it's the Ethereum developing this product, not some other development group.

[pizza77]

On the other hand ethereum will be a good prototype for clones with better distribution. The clones that start from the ground up is where the profit is for the investors.

Yes, it's the actual product that matters. A block chain programming language for smart contracts. And if that succeeds, my friend, it will change everything. The question whether the smart contract network will be lubricated with ether or some alternative token is not really important. But also, so far it's the Ethereum developing this product, not some other development group.

some other development group might be secretly developing an alternative right now. As far as I know there is no planned release date for the finished Ethereum product, and another team might release an alternative before them.

[identtitentti]

some other development group might be secretly developing an alternative right now. As far as I know there is no planned release date for the finished Ethereum product, and another team might release an alternative before them.

Anything is possible. But all that is possible is not plausible. Ethereum is huge programming effort.

[25hashcoin]

Possibly one of the biggest alt scams to date.

[nzminer]

Havnt checked here for a while, any updates, is this a confirmed scam? The whole thing looks plain dodgy, alot of BTC has been put into this, i know someone has a big bag of BTC...

[identtitentti]

is this a confirmed scam?

Of course not.

[BlindMayorBitcorn]

They seemed shady, asking what was my interest in Ethereum and being all squirrrelly

I feel anyone who's attended their share of doors-open bitcoin/crypto-asset events will be familiar with that line of inquiry. After all, you've got some people in suits overplaying their importance/understanding, some people in rags who are the most interesting and/or wealthy in the room, and a couple who are genuinely crazy or otherwise unstable. But don't assume the latter, because maybe you're misreading the anti-social genius-type.

Basically: That's just how you get to the point with people in this space. There are a lot of bullshitters and the room is busy.

Disclaimer: I am acquainted with some of the Ethereum team from the Bitcoin Toronto meetups, and trust they are dedicated, passionate and intelligent people in their respective domains. So I have to assume you're projecting something silly onto them.

Was it in Toronto then?

[identtitentti]

They seemed shady, asking what was my interest in Ethereum and being all squirrrelly

I feel anyone who's attended their share of doors-open bitcoin/crypto-asset events will be familiar with that line of inquiry. After all, you've got some people in suits overplaying their importance/understanding, some people in rags who are the most interesting and/or wealthy in the room, and a couple who are genuinely crazy or otherwise unstable. But don't assume the latter, because maybe you're misreading the anti-social genius-type.

Basically: That's just how you get to the point with people in this space. There are a lot of bullshitters and the room is busy.

Disclaimer: I am acquainted with some of the Ethereum team from the Bitcoin Toronto meetups, and trust they are dedicated, passionate and intelligent people in their respective domains. So I have to assume you're projecting something silly onto them.

Was it in Toronto then?

No, Bitcoin Toronto meetup was in some other place called Toronto. Torororotonto? Thor-ontos? Whaaa, now I got all confused...