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Hi, we're the Ethereum Founding Team. Ask us anything!
Hi, we are Charles, Mihai, Anthony and Vitalik (EthereumCharles, MihaiAlisie, adiiorio and vbuterin).
EDIT 2100 EST Thank you very much for all your questions, it’s been great fun!!!
If we didn’t have the time to address your question here, then feel free to post in our forums at http://forum.ethereum.org.
We're very pleased to finally chat with you all! The last couple of weeks have been very hectic for us, so we haven't been able to communicate as much as we wanted to, and we look forward to answer all your questions in this AMA.
We'll be on from 1800 EST to 2100 EST. We're opening this thread 30m early so that you can post all your questions in advance and make sure we answer everyone.
Proof: http://imgur.com/a/1Emza
.. .. ..
Main site: http://www.ethereum.org
Forum: http://forum.ethereum.org
Code: https://code.ethereum.org
Blog: http://blog.ethereum.org
Wiki: http://wiki.ethereum.org
Whitepaper: http://ethereum.org/ethereum.html
Facebook: https://www.facebook.com/ethereumproject
platonicgap3 karma
@Ursium Great work building the ethereum community! Can you tell us a little bit about your path to the Ethereum project?
Ursium4 karma
I read about Ethereum while browsing a thread about DACs and the parallels with the book 'Daemon' by Daniel Suarez, someone mentioned Ethereum and the rest is history :) I'll actually will have to trace that person, because I'm grateful to be involved in the project. At the moment I'm having a blast getting developers in touch with other developers and entrepreneurs, in order to form our first Holons.
letgoandflow3 karma
The anticipation of this project has the cryptocurrency community buzzing. Lots of things are being said about why this will change everything or why it changes nothing or why it won't work.
What is the most common misconception/myth about the ethereum project that you've seen so far?
Ursium4 karma
I think the biggest misconception about the project has been that somehow the team was dead set on certain core concepts, such as inflation or PoW/PoS algorithm when actually the whitepaper was an opportunity to open the floor to discussion so to speak. This is only the beginning of a long journey.
brendamn2 karma
I am some what of a crypto noob although I have been following bitcoin with interest since 2010. Recently I decided to get into the gpu mining side. I understand peoples concerns about centralization with asics, but gpu mining seems so archaic with the large carbon foot print. Is there a focus within the team about a way to handle network distribution without such a waste of resources. GPU mining just doesn't seem sustainable or future driven to me
Ursium2 karma
We're looking at hybrid PoW/PoS options, and Dagger (our PoW) algorithm will be GPU/ASIC/FPGA resistant.
coinwatcher39 karma
I've read all 357 comments so far and created a sorted and categorized overview of all questions that were answered by the team:
I've posted the formatted versions on Reddit (and here is a Pastebin):
INDEX - Please click here to see the rest of all answers by the team:
Part 1: All answers were posted by the Ethereum team in this AMA.
########### LAUNCH ###########
When/where and what can we use to buy ether? When does the fundraiser begin?
A: A few weeks from now is the best guess.
A. Originally, we actually wanted the fundraiser to last 2 months, from Feb 1 to Mar 31. Because we're giving much more advance warning, we might cut this a bit shorter, but it'll certainly be longer than 1 week.
A: Our official website fund.ethereum.org when we are ready alongside our partner wallets. Bitcoin only
Pre-sale: Will it be relatively easy for a non expert to understand where to send my Bitcoin investment and how I will receive my Ether?
A: Our goal is to make the procedure frictionless using wallets such as KryptoKit and Hive wallet.
A: When the pre-sale is going live you will be able to purchase ether by sending Bitcoin to the generated address and providing an email address. The email address will allow you to recover the funds in case of a disastrous event with your device as long as you can provide the password or the wallet file.
Any idea how much 1 ether will cost?
A: 1 BTC = 1000 ether, during the first week you will have a 2X multiplier (i.e. 1 BTC = 2000 ether). The purchase period is planned to last ~60 days.
A. 1 BTC will be valued at 1000 ether during the fundraiser.
I read some info that early buyers can get 2000 ETH for 1 BTC if purchased early, is this a be awake at 4am thing or is this a buy at your leisure as long as its within the 60 days grace period? In other words will panic buys in the opening hours affect price etc. and if so will we get fair warning / do we need to pre register interest now etc.
A: First week investors will realize 2x the product value.
Fundraiser question: Assuming that there will be a cap on the maximum Bitcoins that any given person may invest, how do you plan do deal with individuals creating multiple identities ( i.e. Email addresses) to get around the cap. If there is no cap, what is to stop a Whale investor from snatching up the whole supply?
A: There will be no cap.
A: You have the option to buy as much ether as you wish. The fundraiser will be open ended.
A: There are methods of using a cap with refund to ensure that everyone has some part of the distribution. We could also tune the economics a bit to allow for a much higher cap, but better ROI. There are three ways to get ether: mine it, buy it off an exchange or participate in the presale. If you miss one window, then there are still two others. My hope is that we can come up with something that is as fair as possible, but sadly years of political fundraising have taught us all that limiting investments by a single actor is really hard to do. {Charles}
If you found my work of sorting all answers useful: mBTC donations are always welcome:) 1GqYFbfvvyPaGUTVXf1kYjsM9KU6jE1p8C
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