BingoBoingo: Lol ethereum is selling their own altcoin nao, https://www.ethereum.org/ “People interested in acquiring ether to build and distribute decentralized applications, or to pay for their usage, are able to do so in the Genesis Sale using bitcoin, thereby locking-in their supply at a known price. This sale will help us fund the continued development of the software platform, scheduled for release in the winter of 2014/2015.” << Preorder on a BFL window. Thing could materialize winter 2014 or winter 2015

thickasthieves: Like anyone will give a shit by then.

Pierre_Rochard: My favorite part “This document is not a solicitation for investment and does not pertain in any way to an offering of securities in any jurisdiction.”

thickasthieves: Because we say so!

Pierre_Rochard: Wonder if they’ll respond like mircea_popescu did when the SEC comes knocking…

BingoBoingo: Even though by simply the way things are they seems to like BFL be actually selling equity rather than product.



mircea_popescu: Too many people want to appear mp without putting in the work to actually be mp, nor fronting the risk etc.

thickasthieves: Who actually wants these smart contracts anyway? iIdont get who ethereum is providing for.

BingoBoingo: If ethereum manages to ship this winter I doubt it’s market cap will survive at a size greater than ATC’s through April next year

mircea_popescu: If anyone wants to enter an ethereum short lemme know.

thickasthieves: You’re betting on ethereum?!

mircea_popescu: You can buy ethereum coins for half what they charge, deliverable jan 15th 2015.

thickasthieves: Heh.

mircea_popescu: I guess I can make a 3 month future too, if enough demand.

BingoBoingo: Well atm during their pre-sale they price their coins off of a timer, with 1 BTC buying less coins as the timer increments. Haven’t seen the details.

mircea_popescu: Fuck them, whatever they ask for is too much.

thickasthieves: ITD at least be a fun way to piss them off and fuck up their IPO a bit.

mircea_popescu: Sure.

thickasthieves: Lol why does their home page give away desktop backgrounds? WTF. “Turing complete contracts on a blockchain.”

mircea_popescu: You don’t understand traffix,

BingoBoingo: Of course. K sale ends in roughly 41-42 days, in just under two weeks their offering goes from 2000 per BTC to 1970 per BTC (fucking hippies).

mircea_popescu: Where is this advertised ?

BingoBoingo: Their home page.

mircea_popescu: How did this work again lessee.

thickasthieves: “Ethereum Genesis Sale” they call it. Awesome

mircea_popescu: ;;sell 5000 “ethereum coins deliverable March 15th, 2015″ 1 BTC “Up to 1k BTC’s worth accepted. Get in touch.”

gribble: Order id 21135 created.

mircea_popescu: So now, elementary economic theory : if one actually WANTS ethereum coins, they’ll buy from me. Watch how nobody does, and then watch the ethereum people lie about how they sold however many. Because yes, totally, this happens.

BingoBoingo: You forget the mp eats babies crowd and “momentum traders” who want to flip the thing right away.

mircea_popescu: Yes, I am forgetting the idiots. Supposedly there’s “investors” involved in these crummy shits.

[…]

justusranvier: What happens if by next March 15th, the Ethereum network isn’t sufficiently functional for you to be able to deliver Ethers to the people who take you up on your offer?

mircea_popescu: Amusingly, in that case the contract’d be void. But anyway, it’d be an explicit clause limiting such cases, obv. In any case, one generally buys a future if they expect the thing to work well, not to fail. If you buy a future and the thing fails there’s many ways to put it, but they all boil down to “you’re screwed”.

justusranvier: They might have value as collector’s items 30 years from now.

mircea_popescu: All sorts of mights, obviously. The aliens might land five minutes later and declare that anyone can have super hot alien blowjobs for a ETH each.