Quote from: tiaguitah on January 28, 2014, 01:01:05 AM

Quote from: r0ach on January 25, 2014, 08:30:10 PM

Past history

The Protoshares / Invictus people are involved with this. For anyone who isn't familiar with their products like Protoshares, I'm not even kidding or exaggerating here, they're a combination of 50% crypto-fascism, and 50% crypto-socialism. I'm not sure if they will even bother trying to refute this claim since the dictionary definitions line up exactly with what they have attempted to create in the past.

Occam's Razor - Never heard of it

Just like Sunny "The Taxman" King, the Ethereum people have never heard of the word "Occam's Razor". There are hundreds, if not thousands of Arbitrary variables in Ethereum they get to tinker and play God with. Bitcoin is popular because it's a simple, straightforward, trust free system. You don't have little leprechauns behind the scenes randomly assigning values based on whatever they feel like that day. All people want is freedom from bankers, they do not want some bizarre, poorly thought out, weirdo economic system forced on them that looks like it was designed by Mussolini.

Goldman Sachs? Are you serious

Accompanying the previous point, we have alleged Goldman Sachs involvement: http://bitcointalk.org/index.php?topic=431938.0

IPO Scam and premine - Check

Why have only one scam when you can have two at the same time !

Things nobody wants or needs - Check

It's not even a currency. You're initially being sold as getting involved with a currency, yet their plans include things like moving a large portion of the IPO into the establishment of a "decentralized autonomous organization", another Protoshares buzz/scam word. Just like every other variable in this plot, they don't even bother listing what the purpose of such an entity is, or why you should want it. You might as well be investing in decentralized, autonomous, robots armed with machine guns. There's just zero reason for you to want any of this stuff to exist.

Not this again

The past Invictus / Protoshares people have always been knee deep in scandals involving pre-mines in things like Memory coin, or "Freetrade" and all his baggage.

The bottom line

This is nothing but a rebranding of Protoshares, an already failed concept.

I could go on for days. It makes me almost physically ill reading anything remotely affiliated with Invictus / Protoshares people.

Quote from: Netnox on January 26, 2014, 12:09:04 AM

- They are asking an insane 30k BTC

- 50% pre mined

- They are setting a price out of nothing for 1 eth, while it's not even out yet

- "ex" Goldman Sachs pricks are supporting this project

aaand probably other red flags i'm not aware of.

Quote from: Herp on January 27, 2014, 03:16:13 PM

Quote from: etparle on January 27, 2014, 11:35:39 AM

this amount of premine and greed with Ethereum devs are of epic proportion. good luck to those "invest" in this.

They do have ex Goldman Sachs members on their team. Those guys are taught to "leave nothing on the table". This IPO was created and structured by Goldman guys. This is why it leaves zero crumbs on the table for the average guy.

My personal opinion: Do you really think a all-in-one package coin will be a revolution? Bitcoin is a success because its simple, made from scratch, for people to transact on their own terms, and thats it.

The distribution model has much to be desired of, however i highly doubt they well reach the 30 000 btc cap limit, it appears that the foundation they'll set up will be transparent and all payments will be listed publicly. One thing to note is that unlike the Mastercoin scam, there are plenty of good developers tied to this project with code already written https://github.com/ethereum/cpp-ethereum. They may be lacking the contracts part, but i would not be surprised if they launch a wallet during the fundraiser.

The one thing that interests me about this project is that it is more simple than bitcoin and anything can be built on top of it. Turing completeness means I can build a high frequency trading exchange on top of it, build mastercoin features without the 30 minute optimum security lag or backwards compatibility issues, or even fork dogecoin into Ethereum.

-0x102