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Ethereum sale has begun

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Comments

  • CoinGuyCoinGuy Administrator
    That's just lawyers covering their ass. I think the chance of them not succeeding is highly unlikely.
  • MikeXBTMikeXBT Member Plus

    Actually, I use use http://proofofexistence.com/ to date and stamp some legal docs. Do I understand that I will be able to do this with Ethereum ?

    haha i've been using this recently for select documents.
  • Ethereum sounds cool, and I have bought about 1 bitcoin worth of Ether, despite warnings from @bitcoinpete‌ (Great read: http://bitcoinpete.com/2014/07/23/a-guide-to-buying-5000-ether-bitcoin-2-5x-more-than-ethereums-genesis-sale/ )

    Anyway, I have a couple questions that you guys might be able to help me with:

    1. In the reddit post quoted by @CoinGuy‌ the author uses the example of his daughter cleaning hes room. That's all well and good, but how can a script know whether or not she has cleaned her room? Putting a contract into a decentralized system doesn't eliminate the need for a human to evaluate whether or not it has been fulfilled by the parties involved, except for in the case of very basic contracts where the consideration can be quantified/evaluated by the network. Am I missing something here?

    2. Isn't this type of network going to be abused pretty quickly? Everyone talks about decentralized file hosting. Let's say some perv uploads some child porn to the ethereum network. Now it's being distributed in perpetuity by the network of ethereum nodes around the world. In theory, in many jurisdictions those nodes could be criminally charged for said distribution.

    Now I've heard people say "Well in that scenario, there would be some sort of mechanism to remove it from the network." At first that sounds great… but then who's going to be the judge of that? If the "blockchain" can be tampered with, how do we know that it won't be tampered with in other scenarios. Such as where one party doesn't like a contract that they've entered into, and they somehow use the same mechanism described above to remove it. Again, am I missing something here?

    Overall Ethereum seems cool, and I look forward to its launch, but there are still a whole bunch of unanswered questions.
  • A fascinating technology and an incredible fundraising exercise .. a very powerful message about what lies ahead on both fronts ..
  • And closing in on $5M raised ...
  • MikeXBTMikeXBT Member Plus

    And closing in on $5M raised ...

    Alleged. Much of it could have been shilled, like a homeless person putting some coins into his hat prior to begging. Gets the ball rolling and looks good. "if people have invested 5m, it must be a good investment". That quote is the best reason to buy Ether right now...
  • CoinGuyCoinGuy Administrator
    @rebecca I think that is a simplistic example, but in terms of script maybe there is a news feed, a read receipt or a FEDEX delivery.

    @bitcoinpete post is unfair, in my view. @mikexbt you can see the funds in their wallet so I doubt it's a shill. And Anthony is someone trustworthy as well. Atleast he has been with me.

    Having said all this ether is in my view a cool project/protocol idea, much like Ripple was. But it's not something you will get rich on - so invest what you can lose ...

    Any that's my two bits :p
  • @coinguy Saying that someone is "trustworthy" because they haven't explicitly cheated you is as valid as saying that a mugger is trustworthy because "they haven't mugged you." This isn't a leg to stand on, particularly when the quality of voices indicating the contrary are so strong. I'm quite inclined to agree with @MikeXBT‌'s beggar simile here. Jangle jangle!

    Also, what's unfair about my blog post? You might think it wasn't "nice" but I thought it was exceedingly fair, particularly as it balanced the rest of the hypemachine so effectively.
  • CoinGuyCoinGuy Administrator
    edited July 2014
    @bitcoinpete‌ I have no evidence of Anthony cheating anyone. You make him sound like Mark Karpeles. I don't think it's fair to him or Vitalik to make these allegations without evidence.

    To use your analogy. Someone is trustworthy to me if they treat me right, until either they mug me or there is evidence they mugged others. So yeah I trust Anthony. Never been given a reason not to.

    I don't have a stake in Ethereum. I am not on their team. Heck I don't even own any ether. I'm simply an interested observer. Frankly most of these attacks smack of envy. No one is forcing anyone to invest... And anyone who is investing will be doing it with their eyes wide open, they are not hiding anything from what I can tell.
  • testmantestman Member Plus
    Isn't the whole point about Bitcoin, transparency? You can see all the ether funds here : https://blockchain.info/address/36PrZ1KHYMpqSyAQXSG8VwbUiq2EogxLo2

    Wouldn't we see shenanigans if they existed? For me the jury is out on the usefulness or need for Ether -- like any Altcoin. I'm not willing to call it a scam. All I see here is a project getting numerous investors to part with Bitcoin for an untrusted untested future protocol.
    I am he as you are he as you are me, and we are all together. See how they run like pigs from a gun, see how they fly.
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