[ETH] Ethereum = Scam

[Spoetnik]

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/

Belief in it doesn't matter, you arguing with a bag holder.
So XYZ scam is great.. no what (to them)

It could be Kick-A-Puppy Coin and these same guys will come here and babble on their usual dumb bs..

They have to..
Or else their IPO scam is going to make them broke.
Further more it's clear staff here pushed this through because their bag holders too.. guaranteed.
It's all rather transparent and obvious to people with a brain hat is going on and there is need to give my interpretation of it etc.

I doubt even 1% of the people coming here need to be convinced for or against this crap..

What we do in fact having going on in a tug of war for media perception as to whether this scheme (or others) is convincing enough to lure in enough of the usual guys.

Because nobody !
and i mean NOOOOOBOOOOOOODY
cares about chow scammy or stupid some stunt scheme is.
ALL they care about is can they get in on it and make some money on it before it crash into the dirt.
I am not the only one who sees a red flag with anything that has an IPO or "Angel Investing" or "Crowd Funding" etc
They are ALL scammy pyramid schemes.. designed for no other purpose than to get Bitcoin to cash out to fiat.

AND..

Even if a few of these IPO scams are honest and legit it still does not change the important point that IPO's and similar were before and still are just a porting of a concept from a REGULATED market to a FREE market.

You see an IPO in the NYSE is regulated and protects all parties involved with massive amounts of rules and oversight.
In our Crypto scene it's a gimmick and a tool to part you with your Bitcoin.. legally !

No one in crypto shoudl get involved in crap like this until we have our own Crypto-version of Berni Madoff serving time for a ponzi scheme or we have our own version of Martha Stewart serving time for Insider trading until then..

It simply is NOT fair and safe or possibly even legal what these guys are doing and if regulation is looming and imposed with out warning you people out there supporting crap like this could wound up waking up tomorrow with charges laid against you.

Be careful investing in crap copied from a REGULATED market with laws.. we are in a free market where Ponzi schemes, Insider Trading and outright fraud etc.. is legal.

Use your brains and keep the greed in check guys lol

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

[Baitty]

Hate the censorship on coindesk. I agree with ethereum being a scam and have already had many discussions about it on this forum.

[Spoetnik]

Coindesk does not like my criticisms about altcoins ever and they rarely publish my comments.

They are notorious for backing the flavor of the month crap coin gimmick.
shit coins like Ethereum are their bread and butter i think.
they take a lead role in announcing and hyping up these coins and then following it with extensive media coverage.
some other examples are..
- Doge (with their early scrypt asic's they bought and mentioned here)
- Aurora
- pretty much any IPO'd scheme

they can claim they are posting the stories submitted to them and it's the scammers that are sending them stories to post.
but they are the ones whoa re putting them on display.. giving them media attention.
When AUR news was getting posted there waaaaaaaa waaaaaaaaaaaaaaaaay before it got popular they should
have titled the AUR news story "LOL @ AUR = worst premine in history ?"

Ethereum and Ripple etc can do what they want.. they are wasting their time.
i have faith in the world's altcoin scene that they are too smart for the most part.
so they can go hard.. do it up lol

they ain't gettin' a dime from me that is all i know hahaha

[Adamlm]

Ethereum might be the Next Big Thing in altcoins. Over 10,000,000 ETH sold during the first day, which equals to 5000 BTC.
People are crazy about this IPO, they're selling their jewellery and even cars to buy ETH!

[oldmarsh]

I think it's pretty suspicious that they already claim to have sold >10 million ether, which is thousands of BTC worth. That number could easily be manipulated to drive hype.

[jztxeno]

Ethereum might be the Next Big Thing in altcoins. Over 10,000,000 ETH sold during the first day, which equals to 5000 BTC.
People are crazy about this IPO, they're selling their jewellery and even cars to buy ETH!

They end up in losing big amounts due to price drops after IPO, well done.

[statdude]

Fake volume.

That's my guess. Can't prove it, but watched the tx's coming in. Sequenced, 1 btc buys.

[TaunSew]

I was one of the first few people who saw the Ether sale thread and it was already at $1 million..  no articles on Google news search (not even Coindesk's article was out yet) and almost no mention of Ether anywhere and yet it already had $1 million!

Maidsafe had $8 million IPO in a few hours and it was found that most of it was laundered Mtgox coins.

Ether could be laundered Bitcoin or it's them buying their own volume to make it look like there's actual demand.  Combination of the two is probably the case here.  Ether is seen as a scam on this forum - nobody is selling their car or their house to buy that crap, especially when it supposedly won't release until 2015.

It makes no sense from a venture perspective to buy a coin that does $10 million in IPO as there's almost no gains compared to the amount of risk you're taking.   Ether might not launch.  Or it might nose dive in value.  Or it'll stagnate like Maidsafe.  The people who invested into Mastercoin and Maidsafe know that - they would had made tons more money investing into Doge, NxT and Dark.

Anyone who invests into Ether would likely make more money investing into NEM, Node, Ora - we'll see in a year and I reckon I'm right given the past track record.  These copywrighting (journalist coins) almost never live up to the hype.  You could almost say they're intended to be scams to sucker in IPO money but this is hard to prove.

[seriouscoin]

Anyone has met Antony (the founder of Ether) knows hes shaddy as fck. The guy doesnt really understand bitcoin and generally talks baseless crap just like Roger Ver.

Someone should do a background check on Antony and you will be shocked.

[seriouscoin]

This is how it should have been done right from beginning :
https://bitcointalk.org/index.php?topic=563925.msg7991275#msg7991275

I feel sorry for whoever falls for this scam.

[TaunSew]

Anyone has met Antony (the founder of Ether) knows hes shaddy as fck. The guy doesnt really understand bitcoin and generally talks baseless crap just like Roger Ver.

Someone should do a background check on Antony and you will be shocked.

Everything's shady.  You forgot about the Goldman Sach's connection.  There's only so many people in this world that have worked for them (out of 7 billion people) and yet Ethereum has them.

Then there's Vitalik - always doing these hour long interviews and flying around the world to promote Ethereum.  When does he have time to do any development?  Why is he passed off as some sort of prodigy developer?  How is that kid more well known than Charlie Lee or actual Bitcoin developers like Gavin Andresen?  I swear that Vitalik is a mascot, some Goldmansachs executive at some table probably said: "We need someone 'hip and kewl', like Justin Bieber, to promote our scam coin to the skateboarding millenials".. "umm how about Vitalik sir, all he does is edit some magazine read by a few dozen people and he's also from Toronto just like Bieber", "Good job Samuels, keep up the good work and you'll get that raise".

[foodies123]

lol at people buying open source software that can and will be replicated and used for free if successfull. lol.

[BitCoinDream]

For last few months, they are continuously denying technical questions. Now I see the reason. They have tested their failure. So, before going public, they wanna get rich. After much hype, ether is going to be another shit coin on the block !!!

[BCFrictionless]

I trust Ethereum.  You should trust Ethereum.  Don't buy Ethanol, buy Ether.  Ethereum.

The next big thing.  Fcuk Peercoin, Fcuk Bitshares, Fcuk Nxt, Fcuk Nem, Fcuk Bitcoin .  To the moon Vitalik Buterin.  Love you, make them rich.

[TaunSew]

For last few months, they are continuously denying technical questions. Now I see the reason. They have tested their failure. So, before going public, they wanna get rich. After much hype, ether is going to be another shit coin on the block !!!

They've been shying away from those questions for ages.  Vitalik was always nervous when people asked him about NxT.  "Turning complete" is BS marketing, it's like saying "our water is H20" as several coins are already turning complete.

[kelsey]

Just another day another sh$tcoin.

Start with hype, post a vid or 10 add whitepaper, talk decentralised dribble then list IPO  = $$$$$$$ 

[bubble83]

For last few months, they are continuously denying technical questions. Now I see the reason. They have tested their failure. So, before going public, they wanna get rich. After much hype, ether is going to be another shit coin on the block !!!

They've been shying away from those questions for ages.  Vitalik was always nervous when people asked him about NxT.  "Turning complete" is BS marketing, it's like saying "our water is H20" as several coins are already turning complete.

What does turning complete mean, and which coins are already turning complete?

[TaunSew]

For last few months, they are continuously denying technical questions. Now I see the reason. They have tested their failure. So, before going public, they wanna get rich. After much hype, ether is going to be another shit coin on the block !!!

They've been shying away from those questions for ages.  Vitalik was always nervous when people asked him about NxT.  "Turning complete" is BS marketing, it's like saying "our water is H20" as several coins are already turning complete.

What does turning complete mean, and which coins are already turning complete?

Turing complete*
It's a mathematical test named after Alan Turing. 

"A language is Turing complete if it has conditional branching (e.g., "if" and "goto" statements, or a "branch if zero" instruction) and the ability to change arbitrary memory locations (e.g., the ability to maintain an arbitrary number of variables). Since this is almost always the case, most if not all languages are Turing complete if we ignore any limitations of finite memory".
 
Pretty much all the Java-based coins are turing able.

The reason why Bitcoin isn't turing complete is because turing complete is more vulnerable than non-turing.

https://bitcointa.lk/threads/the-bitcoin-scripting-system-is-purposefully-not-turing-complete-why.315854/

[KeyserSozeMC]

Anyone has met Antony (the founder of Ether) knows hes shaddy as fck. The guy doesnt really understand bitcoin and generally talks baseless crap just like Roger Ver.

Someone should do a background check on Antony and you will be shocked.

Everything's shady.  You forgot about the Goldman Sach's connection.  There's only so many people in this world that have worked for them (out of 7 billion people) and yet Ethereum has them.

Then there's Vitalik - always doing these hour long interviews and flying around the world to promote Ethereum.  When does he have time to do any development?  Why is he passed off as some sort of prodigy developer?  How is that kid more well known than Charlie Lee or actual Bitcoin developers like Gavin Andresen?  I swear that Vitalik is a mascot, some Goldmansachs executive at some table probably said: "We need someone 'hip and kewl', like Justin Bieber, to promote our scam coin to the skateboarding millenials".. "umm how about Vitalik sir, all he does is edit some magazine read by a few dozen people and he's also from Toronto just like Bieber", "Good job Samuels, keep up the good work and you'll get that raise".

"We need someone 'hip and kewl', like Justin Bieber, to promote our scam coin to the skateboarding millenials"

You gotta be kidding, right?

I find Vitalik geeky, genius & antisocial. Have you ever watched the videos where's he featured?

[oldmarsh]

We know that there is a large team and I'm guessing many of them have sizable BTC holdings. Now what is stopping Vitalik and these people on the Ethereum team from buying Ether with their own BTC, and they have made an agreement that any BTC they invest will be returned to them. So essentially, these people will be getting free Ether that they can then dump on an exchange, so essentially they are getting free money.

It may be immoral, but it's free money, and we know that the issue of morality certainly hasn't stopped the numerous scammers out there. So what is really stopping the Ethereum team from doing this? This is the biggest question I have and I wish it was asked to them and publicized more often.

I hardly EVER see this question being brought up with these IPOs in news articles an the like, and it is what I think could potentially be a huge scam that is pretty much never talked about or the question ever even raised.