Ethereum crowdsale reddit

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NEO and Ethereum —Reddit Ramblings on Near-term Developments

Anthony Di Iorio, now a well-known serial entrepreneur, had organized the get-together, having recently heard the gospel about the then-little-known cryptocurrency and become a convert. Concerned about the health of the financial system, he sold his Toronto rental properties, purchased some bitcoins and was looking for like-minded people to share his newfound zeal.

Di Iorio created the event on the site Meetup. One pale and gangly attendee said no thank you to the beer, pub food and most social interaction. His name was Vitalik Buterin and he was a first-year student at the University of Waterloo in southwestern Ontario, where he was studying computer science.

There was no real conversation with him. The year before with a friend from Romania, he had founded the print publication Bitcoin Magazine. Buterin was building a name for himself among the cryptocurrency community. A few months after that gathering in Toronto, he dropped out of university to travel the world and write for the magazine full time.

A year later, Di Iorio was still hosting the meetings, though at a different venue with more space for a bigger crowd and a projector. But now when Buterin came, he talked about a new idea.

Bitcoin had made it possible to send money around the world with no fees, banks or governments required; he had come up with a way to apply that idea to everything else and usher in Web 3. A farmer in Iowa could instantly collect on an insurance contract that promised to pay him a certain amount in the event rainfall failed to reach an agreed-upon level in a season. People could earn money by renting out their hard drives to a decentralized cloud storage service such as Dropbox.

Buterin proposed building a new blockchain-based system called Ethereum with a programming model developers would find familiar, easy to understand and facilitated by a coding language capable of theoretically solving any computational problem.

Ethereum had the potential to eliminate the need to trust a single company, person or government to keep massive amounts of money and data safe and secure. Like Di Iorio, he was looking for a new project to invest in.

After reading a white paper Buterin wrote on Ethereum in , he realized he had found it. And the shaking, awkward teen would emerge as a respected world leader in cryptocurrency. But first he had some work — and some learning — to do. V italik Buterin was born in Kolomna, Russia, an ancient city about kilometres southeast of Moscow.

His parents moved to Toronto from Moscow in , just before his sixth birthday. By then, Buterin had already taken to computers, playing with Excel on an old PC at the age of four. His father, Dmitry Buterin, remembers his son writing a complex document called the Encyclopedia of Bunnies at the age of seven. Years later when Buterin told his father he was thinking about dropping out of university to travel the world and learn about Bitcoin, Dmitry says he was all for it. If you stay, you will have a very nice, guaranteed job at Apple, Google, whatever.

But you will learn so much more than you learn in university. Buterin released the Ethereum white paper in November that same year and had a founding team in place a few weeks later. The team consisted of Di Iorio, Bitcoin Magazine co-founder Mihai Alisie, Amir Chetrit — whom he had worked with in Israel on a Bitcoin project called ColoredCoins — and Charles Hoskinson, an American mathematician who had founded an initiative to bring cryptocurrency to the mainstream called the Bitcoin Education Project.

At 38, Di Iorio was the oldest by about a decade. By January , the time had come to meet face to face. Everyone bought plane tickets. Chetrit made T-shirts. The team rented a house full of bunk beds in Miami in advance of the North American Bitcoin Conference and got to work building the Ethereum project and, just as importantly, spread the gospel.

Gavin Wood, a programmer from the U. By the time he got to the house in Miami in late January, he was ready for some intense coding sessions with fellow developers. Instead, he found a party. The Bitcoin community was feeling rich. They were on the lookout for the next big thing to invest in. A lot of them were looking at Buterin and seeing dollar signs. Buterin may not have matched the image of a typical businessman, but he did fit another stereotype: the teen computer geek with a billion-dollar idea.

The prospect of getting in early with the next Steve Wozniak or Mark Zuckerberg was highly appealing. One night at the conference, Buterin gave a talk where he laid out his vision, wearing a black Ethereum T-shirt and speaking in an intense monotone. He received a standing ovation and was greeted by a lineup of people waiting to talk to him as he left the hall.

With buzz building and dozens of people flowing through the rented house in Miami daily, Ethereum officially added three more founders: Wood, Joseph Lubin and developer Jeff Wilcke. Lubin, who had previously run a hedge fund and worked at Goldman Sachs, remembers worrying that some people were getting a bit carried away.

At age seven Buterin created the encyclopedia of bunnies, a 'whole universe populated by bunnies, but it's all governed by very strict formulas'. Taking money from unaccredited U.

Securities and Exchange Commission. As a result, the founders decided to wait instead of starting a crowdfunding sale shortly after the conference. They hired lawyers to scrutinize the offering. They registered a corporation in Switzerland, which had a friendlier attitude than most countries towards a project with the potential to actively undermine legal and financial systems.

They had long, agonizing debates about whether Ethereum should be modelled after Google, a giant for-profit corporation, or Mozilla, the not-for-profit foundation that makes the open-source Firefox browser. As the weeks dragged on, tensions between the founders grew. The programmers and businessmen split into factions, with accusations flying about various people not pulling their weight. Di Iorio and Lubin were paying for costs out of pocket as the project went longer and longer without outside funding.

Di Iorio says the idea of turning Ethereum into a not-for-profit was outrageous on multiple levels. After all, he had stepped away from a promising startup and loaned the project hundreds of thousands of dollars on the understanding the team would use it to build an Internet juggernaut such as Google, not accept charitable donations.

Plus, it rubbed him the wrong way on an ideological level. Chetrit left as well, worried about the very real possibility they would all end up in jail for securities violations. But in the early days of the project, he remembers feeling like he needed to rely on the expertise of people on his team with more experience.

After getting his way in Zug, he discovered the fate of the project rested on his shoulders. B y late July , the Ethereum project had gone six months without funding since the initial founding team formed. It had racked up massive debts for lawyers, travel and corporate registrations. Instead of selling equity or debt, Ethereum offered a product: Ether, the Bitcoin-like cryptocurrency built into the platform.

In order to avoid overloading the system and incent developers to write efficient code, all transactions and applications built on Ethereum require ether to run. For the first two weeks of the crowd sale, Ethereum sold 2, ethers for the price of one bitcoin, but the price increased after that. On the day before the price increased, the founders were separated in locations around the world, but they were all glued to the same link on their phones and computer screens.

Repeatedly hitting refresh on the Bitcoin account where they were accepting the funds, they watched the line chart spike. Buterin was visiting a friend in Waterloo, Ont. Ether is designed to be a functional token for people using Ethereum, not a currency such as bitcoin or a real asset like gold. However, anyone who purchased ether during the crowd sale has done extremely well if they held on to it.

It has since fully recovered. Ethereum has a lot going for it in terms of hype, potential and market value, but it has yet to change the world. The experiments being conducted by major companies and banks have mostly been restricted to tests and proofs of concept.

He says everyone just needs to be patient. He fidgets with the tag on a tea bag as he thinks about what he would have done differently if he could go back in time and do it all over again.

Jeff Wilcke is the only original founder who is still working directly with Buterin at the Ethereum Foundation. The rest have started their own companies or are working as consultants, using Ethereum to build applications for businesses and consumers. Buterin says it never made sense for Ethereum to be run by a profit-maximizing corporation, since the point of the platform is to remove control of the web from centralized, self-interested powers.

Like he did at the talk he gave in Miami three years before, he wore a black Ethereum T-shirt, spoke in an intense monotone and attracted a rapt crowd of fans. The future may be decentralized, but for now, Buterin is calling the shots. Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc. A welcome email is on its way.

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Olaf Carlson-Wee Contributor Olaf Carlson-Wee is the founder of Polychain Capital , which manages a hedge fund that invests exclusively in blockchain-based assets. Blockchain technology is quickly expanding beyond bitcoin. While many proponents of bitcoin see the blockchain as no more than competition for existing payment methods or gold, I believe blockchain technology is the harbinger of things the world has never before seen. In a world with many blockchains and hundreds of tradable tokens built on top of them, entire industries are automated through software, venture capital and stock markets are circumvented, entrepreneurship is streamlined and networks gain sovereignty through their own digital currency.

Ethereum Whitepaper: A Next Generation Smart Contract and Decentralized ),

Sale of the Century: The Inside Story of Ethereum’s 2014 Premine

The problem is there are WAY more seeds being planted in this rich field of soil and there will be semi-grown plants fighting for nutrients in the ecosystem. The stronger projects emerging from the rubble as we move through this year to next. The way NEO has been slowly and strategically building , their possibly more fertile fields will have more than enough nutrients for their carefully planted seeds to grow with. Ontology is aiming to create a specific trust network, one that is necessary for enterprises to utilize public and private blockchain technologies as well as consortium chains. At least, this is my understanding. I could be wrong here with the technical specs as I am not a programmer or dev — though I have done the best I can to understand the technical details of the various blockchain technologies out there and how it will intermingle with existing technologies. Something to the tune. Ethereum is radically decentralized whereas NEO is far more centralized, working to decentralize. Da Hongfei set the goal for NEO to become the 1 public blockchain by by market cap.

A Retrospective of the EOS Token Sale

ethereum crowdsale reddit

Please change the wallet network. Change the wallet network in the MetaMask Application to add this contract. United States Dollar. Ethereum is up 5.

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Why Floyd Mayweather, Startups, and Practically Everyone Else Are Betting on Digital Currencies

How can you create your own cryptocurrency? Depending on what you're trying to do, the answer might surprise you by how simple it can be. While several types of cryptocurrencies have been created over the years, some of the more popular ones include Bitcoin, Dogecoin, and Ethereum. Cryptocurrency is digital currency, with coins and tokens, both of which are different from each other. So how does one create crypto tokens and how is it different from a crypto coin?

Reddit Partners with Ethereum Foundation to Accelerate Scaling

Created Mar 14 , last updated Mar 31 Created Mar 14 , last updated Aug 1 Update Sep 22 — Remove WhitelistedMultisig from this bug bounty as it is not being used There was a vulnerability that allowed hackers to steal USD 30 million from the Parity multisig wallets last week. ShapeShift launches trustless asset portfolio platform, Prism. Hey — You got your Ethereum in my Hyperledger!. See also Monax brings Ethereum technology to the Hyperledger Project.

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A Very Dumb Mistake Costs Cryptocurrency Investors Big Time

Hi everyone, I am working on a crowdsale project for my first freelance client. The budget is very small Im trying to build a portfolio so I cannot do mistakes due to deployment fees. I have those two contracts: Sales contract:. I plan to proceed like this: 1- Paste the crowdsale contract on remix.

The world's second 100% honest Ethereum ICO.

RELATED VIDEO: Ethereum's Governance Model

The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment. Ether, which runs on a technology system known as the ethereum blockchain, is worth over ten times the price it was when it bottomed during the COVID market panic of March And the cryptocurrency is still only five years old. In part, this remarkable rise in the value is due to excess money flowing into all the leading cryptocurrencies, which are now seen as relatively safe store-of-value assets and a good speculative investment. Ether has outperformed partly due to several improvements and new features being rolled out over the next few months.

KuCoin is a well-known name in the crypto industry as it managed to establish itself as a prominent one-stop shop for all sorts of crypto operations. Launched in August , the exchange has over cryptocurrencies, more than markets, and has grown into one of the most colorful crypto hubs online.


Reeve Collins. Above the heaving crowds of tourists and taxis, boxed in by adverts selling gadgets, soft drinks, and musicals, sat an unconventional billboard. Huge, dark and enigmatic, it flickered with a glitch-like animation -- a wireframe logo rotating and fizzling, and a name: EOS. But there was just one hiccup: Due to ambiguity around the US regulatory environment, investors in America would be explicitly forbidden from investing in that crowdsale in late June. EOS, simply put, is a futuristic platform for developing decentralised software applications, and is being built by parent company Block. In an email to Business Insider , Block. EOS first officially published info about its upcoming ICO on June 22, though it was known beforehand that it planned to hold one.

I imagine a lot of the Yunbi-owned First Blood tokens will be flipped as soon as it's possible to do so. If that's the case, then those owners don't care one iota about the long term future of the platform. I had no interest in this crowdsale, but it is instructive for how to think about how future crowdsales could be structured to better align incentives between founders and token buyers. The goal of founders, in a crowdsale, should be to align their own interests with those of people who truly want to see their platform succeed.

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  1. Jenci

    In my opinion, you admit the mistake. I can defend my position. Write to me in PM, we will discuss.

  2. Erromon

    Why so much?