They have already collected 1217 BTC ($754,000) !!!
Ethereum has some powerful friends. That's one of the things that bothers me about them. Remember, they have been "self-funded" for some months now.
What's the best reason to invest in Ethereum?
What's the best reason not to invest in Ethereum?
I really like the Turing completeness of eth but mining is a no go IMHO .. anyway as I don't plan to start yet another flamewar or that topic I stick to:
thanks for sharing :)
In any case if we see that Ethereum smart contract works realy nice we can integrate it inside BitShares, replace POW by DPOS and launch BitShares Ethereum which honor AGS/PTS/ETH as 25/25/50 or 30/30/40. :)
testz and happypatty, can could you define "smart contract" for me? I'd rather call it conditional payment which is a less obscure word. But I am interested what you think of when saying that! :)
if msg.data[0] == 0:
# Start a campaign, data [goal, time limit]
id = contract.storage[-1]
contract.storage[-1] = id + 2^128
contract.storage[id] = msg.sender // Campaign creator
contract.storage[id + 1] = msg.data[1] // Goal
contract.storage[id + 2] = block.timestamp + msg.data[2] // Time limit
contract.storage[id + 3] = id + 5 // Start recording donations here
// contract.storage[id + 4] is a running counter
return(id)
elif msg.data[0] == 1:
# Contribute to a campaign [id]
id = msg.data[1]
val = contract.storage[id + 4]
...
Thanks for your post! Would you agree...
Thanks for your post! Would you agree on the following: A smart contract is everything that is conditional + involves more than one economic entity (doesn't have to be human) + uses a blockchain to store the data, for example:
1) Any multisig transaction
2) Ethereum style conditional payments that can be activated with ether (many different smart contracts all on the ethereum blockchain)
3) A Bitshares style DAC. Lottery for example says "IF you buy a lottery ticket THEN you will get a (a) % chance of winning (b) (which depends on how many other others are playing) which is paid out in way (c). Every "smart contract" has its own chain.
(2) and (3) are basically the same (both are smart contracts and in both systems the contracts have to be activated with the native currency) except:
- one blockchain vs. many blockchains
- C++ vs. Ethereum's custom scripting languages. Both are turring complete.
For any number of millions of dollars donated to Ethereum, what is the total market cap at launch?
And inflation is 26 percent, going exclusively to miners?
QuoteEthereum has some powerful friends. That's one of the things that bothers me about them. Remember, they have been "self-funded" for some months now.
What you talking bout donkeypongiss? :)
For any number of millions of dollars donated to Ethereum, what is the total market cap at launch?
And inflation is 26 percent, going exclusively to miners?
Yes, inflation going exclusively to miners.
Say they receive 10000 BTC in their IPO. Assuming the price stays at their imposed value of 2,000 ETH per BTC, the total market cap of current supply at launch will then be:
10000BTC + 10000 BTC *19.8% (dev premine) = 11980 BTC.
If the price somehow remains fixed during the first year, the market cap at year 1 will be 11980*1.26 = 15094 BTC due to inflation.
We won't even get into the fact that IPO is just a fraud to create as much premine as you want by creating mule accounts, sending BTC to yourself with the mule accounts, then the BTC returns to you + the infinite premine.
They got off to a very strong start the first 24 hours, especially considering the IPO announcement was a surprise.
But then I read this bitcointalk and it got me wondering...QuoteWe won't even get into the fact that IPO is just a fraud to create as much premine as you want by creating mule accounts, sending BTC to yourself with the mule accounts, then the BTC returns to you + the infinite premine.
They got off to a very strong start the first 24 hours, especially considering the IPO announcement was a surprise.
But then I read this bitcointalk and it got me wondering...QuoteWe won't even get into the fact that IPO is just a fraud to create as much premine as you want by creating mule accounts, sending BTC to yourself with the mule accounts, then the BTC returns to you + the infinite premine.
-.-
obviously they won't do this because you can monitor spending and unlike AGS they don't need to spend it before the sale is done
They got off to a very strong start the first 24 hours, especially considering the IPO announcement was a surprise.
But then I read this bitcointalk and it got me wondering...QuoteWe won't even get into the fact that IPO is just a fraud to create as much premine as you want by creating mule accounts, sending BTC to yourself with the mule accounts, then the BTC returns to you + the infinite premine.
-.-
obviously they won't do this because you can monitor spending and unlike AGS they don't need to spend it before the sale is done
I don't understand what you are saying. I think the guy I quoted meant that the people in charge of the IPO could buy the ether at presale with bitcoins, since the bitcoins come right back to them they can do it over and over, making the amount of capital raised appear to be much higher than it actually is, which attracts more investors and at the same time locks in a bigger slice of the pie for themselves - at an actual cost that is a fraction of what others are paying.
They got off to a very strong start the first 24 hours, especially considering the IPO announcement was a surprise.
But then I read this bitcointalk and it got me wondering...QuoteWe won't even get into the fact that IPO is just a fraud to create as much premine as you want by creating mule accounts, sending BTC to yourself with the mule accounts, then the BTC returns to you + the infinite premine.
-.-
obviously they won't do this because you can monitor spending and unlike AGS they don't need to spend it before the sale is done
I don't understand what you are saying. I think the guy I quoted meant that the people in charge of the IPO could buy the ether at presale with bitcoins, since the bitcoins come right back to them they can do it over and over, making the amount of capital raised appear to be much higher than it actually is, which attracts more investors and at the same time locks in a bigger slice of the pie for themselves - at an actual cost that is a fraction of what others are paying.
I don't understand what you are saying. I think the guy I quoted meant that the people in charge of the IPO could buy the ether at presale with bitcoins, since the bitcoins come right back to them they can do it over and over, making the amount of capital raised appear to be much higher than it actually is, which attracts more investors and at the same time locks in a bigger slice of the pie for themselves - at an actual cost that is a fraction of what others are paying.
Agreed! I3 should clarify this: https://bitsharestalk.org/index.php?topic=4958.0 .They got off to a very strong start the first 24 hours, especially considering the IPO announcement was a surprise.
But then I read this bitcointalk and it got me wondering...QuoteWe won't even get into the fact that IPO is just a fraud to create as much premine as you want by creating mule accounts, sending BTC to yourself with the mule accounts, then the BTC returns to you + the infinite premine.
-.-
obviously they won't do this because you can monitor spending and unlike AGS they don't need to spend it before the sale is done
I don't understand what you are saying. I think the guy I quoted meant that the people in charge of the IPO could buy the ether at presale with bitcoins, since the bitcoins come right back to them they can do it over and over, making the amount of capital raised appear to be much higher than it actually is, which attracts more investors and at the same time locks in a bigger slice of the pie for themselves - at an actual cost that is a fraction of what others are paying.
Yes, and I am saying it would be impossible for them to do that, since it would require signatures from 3 of their 4 multisig owners, and also very foolish, because everyone can watch them do it.
This criticism also applies to AGS, and unlike ether, I3 cannot prove they didn't do that.
It is amazing, in fact, to watch all those IPOs (non-IPOS, call them what you want) and the variety of ways everyone is coming his own new ‘improved’ way to make its distribution.
What is really astonishing is that practically all of them make little to no sense. Not because we are on this forum, but because it is the truth – AGS being pretty much the only exception.
there has been a great deal of hate sent toward invictus for AGS from people who do not understand that real, quality software needs solid seed funding that cant (easily) be dumped on by outside forces. Invictus protected their entire operation (and its investors) by building a solid capital foundation instead of building it on quicksand.
It is amazing, in fact, to watch all those IPOs (non-IPOS, call them what you want) and the variety of ways everyone is coming his own new ‘improved’ way to make its distribution.
What is really astonishing is that practically all of them make little to no sense. Not because we are on this forum, but because it is the truth – AGS being pretty much the only exception.
Initially I didn't appreciate how elegant and fair AGS was. Its surprising that others are not copying it.
I have a good feeling about our Bitshares, If only the AGS was converted into something else so that the private key didn't have the risk of getting compromised.
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So it's raised about $14MM USD so far. That's a lot of trust....or hope....or something.
If we can get BTSX, VOTE, and DNS to grow to something close to Litecoin then our development funds from AGS will exceed their $14MM :)