[ETH] Ethereum = Scam

[TaunSew]

Amazing to see the amount of whining over this, as if angel investors don't hand out money all the time to projects that may never go anywhere or perform, it's called taking a risk. If you don't like it, don't give them your money, if you think it's a scam, then present proof or facts it is. Otherwise it is just opinions pulled out your asses.

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.

Ethereum is this huge media machine trying to pass itself off as the next best thing since sliced bread but in all honesty it holds no more potential than any generation 1.5 or generation 2.0 alternate currency.  Second, Ethereum is obviously a large bureaucracy (look at the huge developer team, constant promotions at oversea events, et cetera) so those people have to be paid somehow and that's where the IPO comes in.
 

[1714738597]

1714738597

[fran2k]

For me this seems more like crowd funding rather than IPOs.

[Octavius]

A lot of scammers use the WhoisGuard...

http://whois.domaintools.com/ethereum.org

[r0ach]

Now it seems like they're running into legal issues and
may have to cancel IPO release for the United States

link?

He quoted my post from months ago concerning their first IPO that failed.  That quote is obviously no longer valid since this is the second IPO run.

[yambad]

[claimore]

Lol, my friend invested and he's scared as fuck.

[CoinRocka]

much n00bs

[digitalindustry]

i think is possible for every new coin that make notices, find a thread where to read that that coin is a scam:)

only difference with an "IPO" is,  its just so dam easy to prove !

so i guess its about allegations and proof no? that pesky reality thing.

[slaveforanunnak1]

Lol, my friend invested and he's scared as fuck.

Fucking pussy

[slaveforanunnak1]

Amazing to see the amount of whining over this, as if angel investors don't hand out money all the time to projects that may never go anywhere or perform, it's called taking a risk. If you don't like it, don't give them your money, if you think it's a scam, then present proof or facts it is. Otherwise it is just opinions pulled out your asses.

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.

Ethereum is this huge media machine trying to pass itself off as the next best thing since sliced bread but in all honesty it holds no more potential than any generation 1.5 or generation 2.0 alternate currency.  Second, Ethereum is obviously a large bureaucracy (look at the huge developer team, constant promotions at oversea events, et cetera) so those people have to be paid somehow and that's where the IPO comes in.
 

Ohhh stfu.
AGAIN!! where were those safeguards when MFGlobal robbed all that money?!?! or bernie madoff?
and did you just say that "the government spent more time thinking about this that me???" They can barely spell blockchain! WTF are you smoking?? give me some!

[kingscrown]

while i dont know if its scam or not it was dodgy to me they did IPO that soon before showing any proofs of code.
ive skipped this coin.

[Oldminer]

IPO aka PONZI

[BittBurger]

Its funny how everyone calling it a scam can't even spell it right.

Reminds me of Bitcoin detractors.

PS:  to all dummies out there - scam implies intent to defraud.  It does not include bad ideas.  Poor business plans.  Lame technologies.  Bad businesses that suck.  Bad development teams that don't deliver.  It implies INTENT TO DEFRAUD.  Stop misusing the term scam.

-B-

[jonald_fyookball]

Its funny how everyone calling it a scam can't even spell it right.

Reminds me of Bitcoin detractors.

PS:  to all dummies out there - scam implies intent to defraud.  It does not include bad ideas.  Poor business plans.  Lame technologies.  Bad businesses that suck.  Bad development teams that don't deliver.  It implies INTENT TO DEFRAUD.  Stop misusing the term scam.

-B-

Ok, how bout sham 

[Spoetnik]

As much as i dislike spoetnik, i gotta say, i share his views on this etherium crap.

ahahha thanks ?

all i can say is the huge amount claimed to have been bought up on this new coin seems fishy..
i can't get past that so i am out (as in i won't be buying into Eth.)

all i see in the altcoin scene is guys who got involved with Bitcoin and saw dollar signs $$$
then.. out comes then Altcoins lol

[jlaws]

Ethereum is posted i see today as the big new story at Coindesk !
and i made a comment on it but it's of course awaiting moderation so i bet they will delete it.

Bottom line it's a dumb idea and it's an IPO and IPO's in crypto are ALL scams.
My advice to people is to avoid shit like this and notice who is jamming it down your throat too !
i came here today and out of nowhere page one is bloated with Ethereum topics.

i am going to copy what i posted at Coindesk to explain the reasoning behind why i think IPO's are scammy.

Note:
I just checked and Coindesk let me post my comment and replied "LOL"
i LOL'd too hhaha

ok so with out further ado, here is your new opinion everyone (the correct one) ..your welcome

reference = http://www.coindesk.com/ethereum-launches-ether-coin-millions-already-sold/

Or don't and suffer the consequences and roll out the cliche's Crypto-Excuses™ i hear ever day lol

and.. and..
This comment is (of course) awaiting moderation LOL

We must differ in our definition of scams. Certainly some or even most of IPO's are failures (some are scams), but a large number of IPO's have generated profit for their adopters as well as their devs. In the case of NXT, there seems to be a lasting value ascribed to the coin by the community. Developers have flocked to it, and arguably much of the innovation in the crypto world today happens within the NXT ecosystem. It has yet to fail or fall short of any of its major development goals, whereas countless POW distribution models fail to implement anything new --often cloning the efforts of others and re-branding it. How could you say NXT (distributed by IPO) is a scam? An uneven distribution is certainly a drawback to my personal valuation of the coin, but to the thousands of other users who've invested millions of $ and/or participate actively in its community it is no more a scam than Bitcoin or the NYSE for that matter.

[V500]

if eth price becomes too high the system fails. written in those TOS you didn't have the time to read.

https://bitcointalk.org/index.php?topic=710458.msg8026322#msg8026322

[aguy]

if eth price becomes too high the system fails. written in those TOS you didn't have the time to read.

https://bitcointalk.org/index.php?topic=710458.msg8026322#msg8026322

FUD.  The system won't fail.  

What they are cautioning is that if hype is too great, usage of the network to execute a smart contract may not be economical.  In that sense, the economical model will "fail".  This happens all the time in markets around the world everyday.  People handling their purchase as an investment means they speculated others would be willing to pay more to use it (get it from them).  However, if the execution of contracts are too expensive for X application, the developer will not be able to afford it.  And will not use.  If enough devs do not build contracts to utilize this new system speculator will realize they overpaid, so they decide to lower their sale price.  Enough sellers "giving in" to the buyer's ask price evokes an emotive response and people panic.  That same developer looking to use the network looks at it again and says woah, it will probably cost $800/year to run my app on it. So he buys 5 years worth of "coins" because it is now cheap.  In this case, developer got a deal they found fair and speculator helped sustain early development.  Or maybe dev who wanted to use it thought original asking price was fair and speculator made a good bet.  That's why it is called speculating and not investing, you are trying to value something very difficult to quantify and trusting a group of people to achieve a goal.

The warning in the terms of service is akin to the warning on bleach and other cleaning products cautioning you not to ingest.  It's obvious to those that understand the product.  And for those that do not understand the product, they are offering full disclosure which I would consider the complete opposite of a scam.

[V500]

if eth price becomes too high the system fails. written in those TOS you didn't have the time to read.

https://bitcointalk.org/index.php?topic=710458.msg8026322#msg8026322

FUD.  The system won't fail. 

What they are cautioning is that if hype is too great, usage of the network to execute a smart contract may not be economical.  In that sense, the economical model will "fail".  This happens all the time in markets around the world everyday; execution of contracts are too expensive for X application.  Some developers do not use it.  People handling their purchase as an investment means they speculated they would be willing to pay more to use it.  Therefore speculator has overpaid.  Decides to sell.  Enough people selling causes price to fall.  People panic.  Developer looks at it and says woah, it will probably cost $800/year to run my app on it. So he buys 5 years worth of "coins". 

This is akin to the warning on bleach and other cleaning products cautioning you not to ingest.  It's obvious to those that understand the product.  And for those that do not understand the product, they are offering full disclosure which I would consider the complete opposite of a scam.

right. It is not a scam. People throwing a lot of money at it hoping for huge gains are just stupid and were unable to think while falling for the hype, that's all. And it was there to read all along. Can't call this a scam. Just an for the investor unfortunate way of distributing it.
We will try not to say ethereum took advantage of stupid people or at least try putting it in some nicer language when we have to say it.
Very well played.

[r0ach]