Can we please get a reply to this prior to the IPO.
"So if I invest 1 BTC and get my 2,000 or so Ether, what happens when people start mining? Is some dude with a jacked up rig going to be able to mine 10,000,000 Ether in the first couple hours? How is this being handled so that my investment is actually worth something?"
"So if I invest 1 BTC and get my 2,000 or so Ether, what happens when people start mining? Is some dude with a jacked up rig going to be able to mine 10,000,000 Ether in the first couple hours? How is this being handled so that my investment is actually worth something?"
#1 - we haven't announced the structure of the Ether sale yet
#2 - that's not how mining works, thankfully
Just like Bitcoin, inflation comes from mining. The amount that can be mined is controlled by the network, and corresponds to a fixed percentage of what was raised in the ether sale. This is mean inflation is rapidly decreasing year on year, eventually tending to 0.