Quote from: vintagetrex on January 24, 2014, 04:16:04 AM

Quote from: BittBurger on January 24, 2014, 03:30:49 AM

Quote from: msin on January 24, 2014, 12:37:14 AM

Quote from: currencydebt on January 24, 2014, 12:24:09 AM

http://www.ursium.com/ethereum-white-paper-updated/

Important update on numbers.

1000 ether for 1BTC? Lame

I thought the IPO price was going to be $0.08 USD per ether?

Quote

It doesn't matter whether the Ethereum people make it 10000 BTC per ETH or

If it doesn't matter then why did they increase the price from $0.08 to $0.82 ?

-B-

In one way it appears not to matter: "Oh well if we increase the price there will just be less ETH outstanding. If we decrease the price there will just be more ETH outstanding"

The swindle here is subtle, and I am going out on a limb just theorizing how it will work: There will be a fixed fee for transferring ETH just like there is with Nxt. By increasing the price, the people with more ETH get more from proof of stake mining by way of transaction fees.

What really matters is how much it costs to run useful contracts. Obviously, if only a few can run the contracts, then the whole system is worthless. If anyone can run contracts and can create infinite loops, then the system is worthless. There will have to be a balance.

If the scheme you propose could be carried out, then it would indeed be shady. But ethereum is being created by some very well respected bitcoin community members. I don't see them trying to pull one over on everyone.