Quote from: tgerring on January 16, 2014, 03:25:37 PM

Quote from: organizer on January 16, 2014, 02:03:12 PM

So, as a novice hobbyist, I am still very interested in this coin (?), so i'll throw this out there. In business you're often asked to prepare and give someone the "elevator pitch", which might be about 30 seconds worth of bullet points. So someone give this to me, what is the "elevator pitch" for this coin?

Is it a bitcoin killer? What does it do that other coins don't (is it the notion that you can leverage mining power into real-world applications/computations?)

It's hard to give an elevator pitch on a technology that is a step abstracted from Bitcoin when people don't properly understand Bitcoin in the first place... but I'll try for those interested in investing but not in reading the research material (which seems to be the de-facto status of forum trolls).

Imagine the underlying technological accomplishments of Bitcoin (distributed consensus) were abstracted away such that ANY mathematical expression could be expressed & evaluated by the network. In addition to a more complete scripting language, these scripts/programs/bots/entities would live in a "contract" and have access to memory locations and ability to interact with other transactions themselves.

What you end up with is a way to design nearly any legal/financial agreement which can interact with other contracts and accomplish hugely complex and automated tasks secured by the network at large. What you can accomplish with the contracts/memory construct is essentially only limited by your imagination and funds available (since contracts require fee inputs).

What are some examples of what these contracts could do?

Sub-currencies
Financial derivatives
Identity and Reputation Systems
Decentralized Autonomous Organizations
Savings wallets
Crop insurance
decentrally managed data feed
Smart multisignature escrow
Peer-to-peer gambling
on-chain stock market
on-chain decentralized marketplace
Decentralized Dropbox

I highly recommend everyone read the white paper several times if they're interested in this project, whether as investors or technologists (or both!)

Thanks! This is an excellent, concise, and accurate summary of the project.