Ethereum PR problem

First, i would like to say that I am really interested in Ethereum project and wish it good luck (I think about taking part in IPO).

But I am really worried about your public relations. Have you seen what is happening in Ethereum announcement thread on bitcointalk? This is place where most of potential investors read about your project. There is a lot of a accusations there - technical, financial (IPO rules) and even ethical. Many of people who think about investment in Ethereum, read it and don't know what to think.

And there is no answer from founders or developers of Ethereum! I guess you have a lot of work, but you should really choose someone to keep in touch with people, inform them what is going on and answer questions or you will loose trust and a lot of potential contributors.

Best regards,
Piotr

P.S. Sorry for my grammar, I am not a native speaker.

Comments

  • ddink7ddink7 Member Posts: 49
    There are a lot of things over there I wouldn't even bother replying to, but there are definitely a few legitimate questions that I'd like to see an "official" answer to. I know everybody just got back from Miami yesterday, but it would be nice to see a response soon.
  • kvbkvb Member Posts: 12
    Yes, I noticed this too. Many people are complaining because of lack of responses on bitcointalk. I think it's mainly because the Miami conference made the founders really busy, so no one really can answer the technically inclined questions in a timely manner.

    It looks like there is a rush with this IPO considering the fact that major publications (coindesk, bitcoin magazine) went live 5 days ago, many people heard of this only recently and are not happy with the schedule push up and see this as a rush sale tactic.

    I do think however, that considering the criticism and the vacuum generated following the lack of responses, that it is proper to delay the IPO launch for another 2 weeks or so. This in order to let the developers time to answer legitimate questions potential investors have and give them time to learn the white paper and the other available material. This will make investors feel more confident in investing bigger sums.

    Lack of knowledge (answers, attitude) brings to indecisiveness, over cautiousness and fear.

    Considering the above, I think it's better to have a sound right foot start a bit later, than a rushed left foot move despite the criticism.

    Maybe it's a good idea to do a vote on the issue of delaying the crowdfunding countdown clock? If the majority of members will vote for this maybe it's a sensible move for the benefit of the community.

    What do you think? :-/
  • MsCollecMsCollec Member Posts: 9
    I would like to see some changes to the current IPO structures
  • ddink7ddink7 Member Posts: 49
    edited January 2014
    Valerik got a standing ovation in Miami and was immediately swarmed by reporters. This is much, much larger than that pissant group over at bitcointalk. I'd like to see him respond to a few of the actually relevant questions, but he will never satisfy the trolls over there, and frankly he doesn't need to.
  • unimerciounimercio Member Posts: 11
    I attended Vitalik's presentation, had the host given him a fair allotment of time on the podium, we would have gone home with a clearer understanding. Instead we chased him out to the hall as amateur reporters without mics or notepads.

    I must say he handled himself quite we'll both on stage and cornered by the crowd outside.

    Based on the applause and general buzz, I doubt the funding round will be anything but a success.
  • kingbitcoinkingbitcoin Member Posts: 6 ✭✭
    Answers to intelligent technical questions are particularly important, and I advise that they are dealt with, however there is always a danger engaging with a mob when it comes to more nebulous concerns like the structuring of an IPO. There is no configuration that will satisfy all parties.
  • Manfred_KarrerManfred_Karrer Member Posts: 17
    The IPO will run for 2 month so thats a lot of time to clearify and inform.

    Trolls in the forums and reddit are a systematic problem of these platforms. It is just too easy and cheap to post FUD/spam/garbage in an anonymous platform and in a certain amount of them are following some agenda.
    Many people are not even reading anything of the official information, why to bother to answer their stupid questions? A wast of time.

    BTC core devs are fed up with all that and stay away from bitcointalk.

    I think a very good use case for an Ethereum App would be a forum/reddit platform which prevents that low quality communication with a monetary inventive scheme (pay for posts, earn for positive feedback from others,...).

    But beside that, it is true a PR guy who responds in the forums to a few valid questions would be a good idea.
  • ddink7ddink7 Member Posts: 49
    I'm not sure what you people find so hard to understand. This is not a security. No equity is being offered. Period.
  • JakeThePandaJakeThePanda Member Posts: 15
    edited January 2014
    It's definitely possible the SEC could consider these securities if they want to. There is much more to the SEC's definition of a security than just equity ownership. I believe most securities aren't equity ownership. I'm not an expert, but this can be considered a type of investment contract and that falls under the definition of security. Don't be naive to think this offering is outside the scope of the SEC or CFTC. I'm not saying it will happen, but if enough people get hurt financially, the SEC will stand up and take notice.

    That being said, I will be investing. :D
  • kvbkvb Member Posts: 12
    Good news. :> The fundraiser is being delayed to let investors time to learn and answer the technical questions. =D>

    I am surprised for the better. Keep the buzz and momentum going. The later fundraiser will be a bigger success than if were to happen now. :O)
  • ddink7ddink7 Member Posts: 49
    My #1 concern was a fair distribution of ETH. I'm very pleased they are taking time to reassess this, because I'm afraid of some big whales coming in and buying the whole thing up!
  • GesamtGesamt Member Posts: 5
    It's fair to say that if someone wants to develop a platform to enable distributed autonomous organizations, they have had the idea that it might also be useful if it succeeds in appointing currency correctly and autonomously to its investors as part of the deal. Beyond simply setting up shop and taking money, they probably could develop 'contracts' which keep investors happy in a way which is not bound to a central place, and therefore unchangeable. So that at least the fundraising as a demo enables them to raise capital and deliver. At the same time, it would prove that the tech is worth the investment and encourage other kinds of 'contracts' to be written. It would be much more beneficial for the founders to keep any 'contract' operating as long as possible autonomously, and I imagine that done properly, the project could become self-motivating and very good for investors. So trolls should maybe look into what this is before worrying about what the founders will be asking for, because it's not equity they are offering.. so it's not really an IPO per SEC definitions, and it's not currency recognized by any legal entity and it's not a security either, it's ether for BTC. Founders could move to any place they want to continue the work, and it wouldn't matter what currency or governing body was trying to solve for x, and it certainly won't when you can make your own contracts for your own bidding, in code.
  • celticwarrior72celticwarrior72 Member Posts: 83
    $30 Million is a big chunk of change - comparable to what Coinbase has raised. It'd be interesting to see what might be raised in a more traditional venture round vs. selling Ethereum directly to investors. Might that be a better approach? Fund the company through a good seed or series A round to take the pressure off the founders from a cash point of view, build out the infrastructure a little, and then open Ethereum (the currency) up to investors?
  • aleksanderaleksander Member Posts: 1
    I didnt go to bed with my girl because of this IPO countdown. Nothing happened, Ethereum server is down and my gf sleeps. I'm sad. -Your investor.
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