Author Topic: Ethereum: The Ultimate Smart Contract and Decentralized Application Platform  (Read 11948 times)

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Offline fuzzy

Yes, though the whole point is that the canvas will be easy to paint. I can believe some altcoins, name systems, and other simple stuff will appear within just the first few days. Not sure they have even a single profitable DAC idea though =P

I haven't seen one and I've been looking.  Ethereum is not a bad concept but as I see it, where Invictus Innovation puts most of their effort in creating actual value, Ethereum's team chooses to syphon it from the BitCoin community using Viral Marketing in hopes that they will get enough people to build on their platform and create the value for them.  If not, oh well...the seed funding did well and the initial, closed group of "founders" will sell before anyone knows what happened.

I am hoping Ethereum is forked by Devs more like those here at BitSharesTalk...MUCH respect due to Invictus.
« Last Edit: February 05, 2014, 10:12:22 am by fuznuts »
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Offline bytemaster

What prevents to make a fork of Ethereum and reset all the fees to zero?

If that happens the future DACs will use the free alternative instead of Ethereum.

Fees are set to control bandwidth and spam, not to pay Ethereum devs...

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Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline BldSwtTrs

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What prevents to make a fork of Ethereum and reset all the fees to zero?

If that happens the future DACs will use the free alternative instead of Ethereum.

Offline toast

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Yes, though the whole point is that the canvas will be easy to paint. I can believe some altcoins, name systems, and other simple stuff will appear within just the first few days. Not sure they have even a single profitable DAC idea though =P
Do not use this post as information for making any important decisions. The only agreements I ever make are informal and non-binding. Take the same precautions as when dealing with a compromised account, scammer, sockpuppet, etc.

Offline JakeThePanda

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Thanks for the replies.

Say I wanted to bet on the price of gold.

Bitshares will have a separate block chain named "BitGold" or whatever it's called or gold trading will be included in one of the chains.  It will be clear to me that anyone trading "BitGold" is a potential counterparty for my directional bets on Gold.  Correct?

How would this same trade work on Ethereum?  Do I just post a bid somewhere that I want to bet on gold?  Does someone have to make the currency on top of Ethereum first?

Someone would use Ethereum to build a decentralized bank and exchange, which could work just like bitshares. Or someone could build alternate models for price pegs like trusted feeds.

So at this stage, Ethereum is just an empty canvas with nothing on it yet?


Offline toast

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Thanks for the replies.

Say I wanted to bet on the price of gold.

Bitshares will have a separate block chain named "BitGold" or whatever it's called or gold trading will be included in one of the chains.  It will be clear to me that anyone trading "BitGold" is a potential counterparty for my directional bets on Gold.  Correct?

How would this same trade work on Ethereum?  Do I just post a bid somewhere that I want to bet on gold?  Does someone have to make the currency on top of Ethereum first?

Someone would use Ethereum to build a decentralized bank and exchange, which could work just like bitshares. Or someone could build alternate models for price pegs like trusted feeds.
Do not use this post as information for making any important decisions. The only agreements I ever make are informal and non-binding. Take the same precautions as when dealing with a compromised account, scammer, sockpuppet, etc.

Offline JakeThePanda

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Thanks for the replies.

Say I wanted to bet on the price of gold.

Bitshares will have a separate block chain named "BitGold" or whatever it's called or gold trading will be included in one of the chains.  It will be clear to me that anyone trading "BitGold" is a potential counterparty for my directional bets on Gold.  Correct?

How would this same trade work on Ethereum?  Do I just post a bid somewhere that I want to bet on gold?  Does someone have to make the currency on top of Ethereum first?

« Last Edit: February 04, 2014, 05:19:48 pm by JakeThePanda »

Offline santaclause102

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My take on ethereum is that it has tremendous upside when it can solve the scalability issues but I dont think that is possible. The really high volume DACs will go with the I3 toolkit...

I'm a non-technical person.  Can someone help me understand the differences between Invictus and Ethereum?  This is my understanding:

The Invictus platform uses a different chain for everything.  So, trading gold will be on a different block chain then placing bets on the Super Bowl.  All Ethereum DACs will be on one block chain. Is this correct?

As an end user that's non-technical, why does this all matter to me?

What matters to you as an end user is if you have to pay high fees on your bets and how long it takes to make a bet. Invictus tools will be better at this.
Not sure but what Ethereum guys say is that it is super easy to implement DACs. This might actually be the case and I am sure there will be some applications this is very useful for. But with every useful application that very many people will use and which can generate a lot of profit there will be a competitor that will look for a more economic way to implement this (to offer a better service to end users) application and might go with the Invictus Tools...
I am more economical than technical, so technical evaluation of this is welcome...

« Last Edit: February 04, 2014, 01:14:16 pm by delulo »

Offline JakeThePanda

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My take on ethereum is that it has tremendous upside when it can solve the scalability issues but I dont think that is possible. The really high volume DACs will go with the I3 toolkit...

I'm a non-technical person.  Can someone help me understand the differences between Invictus and Ethereum?  This is my understanding:

The Invictus platform uses a different chain for everything.  So, trading gold will be on a different block chain then placing bets on the Super Bowl.  All Ethereum DACs will be on one block chain. Is this correct?

As an end user that's non-technical, why does this all matter to me?

Offline santaclause102

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My take on ethereum is that it has tremendous upside when it can solve the scalability issues but I dont think that is possible. The really high volume DACs will go with the I3 toolkit...

Offline fuzzy

If Ethereum turns out to be as powerful and successful as it has promised, it should be as open, free as:
       TCP/IP
       C/C++
       Linux
       Java
       Andriod
       ...

NOT like:
       Mac OS
       Windows
       Blackberry
       ...

The former group require academic neutrality and certain level of altruism while the latter group are profit-driven. Ethereum's IPO and funding model is clearly much closer to the 2nd group. Building a good platform and profit-seeking greed don't mix well. This is a cruel reality and a factor making me much less optimistic on this project.

This is perhaps the most respectful and succinct way of describing how I feel about Ethereum.  It is the Microsoft of Cryptos...
WhaleShares==DKP; BitShares is our Community! 
ShareBits and WhaleShares = Love :D

Offline bitcool

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If Ethereum turns out to be as powerful and successful as it has promised, it should be as open, free as:
       TCP/IP
       C/C++
       Linux
       Java
       Andriod
       ...

NOT like:
       Mac OS
       Windows
       Blackberry
       ...

The former group require academic neutrality and certain level of altruism while the latter group are profit-driven. Ethereum's IPO and funding model is clearly much closer to the 2nd group. Building a good platform and profit-seeking greed don't mix well. This is a cruel reality and a factor making me much less optimistic on this project.

 

Offline santaclause102

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ProtoShares is backed by future DACs. What will Ethereum be backed by?

By the same thing future DACs are backed by, the services it provides.

What are the services it provides (to developers)?

Offline bytemaster

ProtoShares is backed by future DACs. What will Ethereum be backed by?

By the same thing future DACs are backed by, the services it provides.
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline vlight

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ProtoShares is backed by future DACs. What will Ethereum be backed by?