I have some ideas for the presale...

chrisbeaver71chrisbeaver71 Member Posts: 1
...Of which I plan on buying in any case.

I think a bulk of the ether should be sold in the presale. I think that it should last a relatively long period so that everyone who's interested can buy.

I believe that amount of ether should be determined by the presale. Say lots of five million per btc. If a thousand people buy we would have a total of 5,000,000,000.

I think there should be a level of inflation that is earned via Proof of stake or similar(Ethereum means "light" correct?). This gives folks incentive to run nodes and keep the network strong.

I do not want to get caught up in the cpu/gpu/asic cycle. Thanks.

Comments

  • JasperJasper Eindhoven, the NetherlandsMember Posts: 514 ✭✭✭
    The number of ethers created is already linear with investment; see the whitepaper on issuance. The whole inflation/issuance is a whole topic on its own. How to deal with it isnt set in stone yet. Pure PoS infact doesnt have inflation all, if you PoS-mine you get as much as the currency is thinned out. For economic reasons it is desirable to have some inflation, and there are some security issues with plain PoS.('long range attacks')

    Ethereum doesnt mean 'light' btw, not 100% clear on where the name comes from. You may have gotten that idea from aether. 'Ether' is used as a fuel,(sort of) that is the closest i can get. Because the scalability problem hasnt been solved, it probably won't be particularly light. But light enough. And the plan is to have non-full-node lightweight clients that can verify stuff.
  • StephanTualStephanTual London, EnglandMember, Moderator Posts: 1,282 mod
    Jasper nailed it in his answer but I'll also add that "the cpu/gpu/asic cycle" is symptomatic to certain forms of mining, not Ethereum specifically. Mining in general is necessary to a) be inclusive b) secure the network c) generate cryptofuel supply at a determined rate.

    Mining doesn't necessarily mean 'ASIC-friendly', in fact in our case, we are aiming to be CPU-only by discouraging parallelization through turing completeness of the algorithm used.
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