4 ms·

When did ethereum offer tokens for sale?

mythrwy 6y ago
2014
arthurcolle 6y ago
In late 2013, with expected delivery December 2014. I was poor, in college, and turned $70 of Bitcoin during the presale into $40,000 of Ethereum when I sold in late 2017. Do I get to call myself an angel investor now? ;)
- 1996 6y ago
  Not until you get at least one more zero
nullc 6y ago
Ethereum's managers pre-mined 72 million coins, kept about 12 million to sell at later times, and sold many to the public (and also "sold" many to themselves personally, though we only know of the self-buys they chose to disclose-- the structure guarenteed more coins for insiders the more that they raised from the "public" so there was a big incentive for insiders to anonymously participate in the public sale). They forbid US persons from purchasing in their sale, which might be part of the reason the SEC never took action even though many people ignore the prohibition. You might assume that fact that they've subsequently lied and dissembled about the massive premine, or multiple times reduced the issuance rate of mined coins to prop up the price as they sold their own premined positions might count against them, but apparently not.
- CryptoPunk 6y ago
  >>You might assume that fact that they've subsequently lied and dissembled about the massive premine, Who's "they". No one has lied about the premine. The crowdsale is well-documented by Ethereum-based information resources and there has been absolutely no effort to conceal or mislead about it. >> or multiple times reduced the issuance rate of mined coins to prop up the price as they sold their own premined positions might count against them You're conflating the community, which is the amorphous entity that has reduced the issuance rate, in accordance with a long-standing plan to adjust it to balance the need for security, and the need for token store-of-value functionality, and the Ethereum Foundation, which has no say in the hard forks that the community choose to support or not support.
  - randunel 6y ago
    > Who's "they". ETH Cofounders got to keep 10% of the premined pool; Ethereum Foundation also got 10% of the premined pool. I'd presume these are "they".
    - CryptoPunk 6y ago
      When did ETH cofounders lie about the premine?
  - nadaviv 6y ago
    lol, what? This is not how things work in Ethereum. The foundation has the authority to do anything it wants, despite the community's wishes. The DAO bailout hard fork showed that very well.
    - bhaak 6y ago
      The Ethereum Classic community wants to have a word with you.
    - CryptoPunk 6y ago
      The foundation has no authority over the protocol. It's purely a R&D grant issuer. The protocol is completely consensus based. The foundation doesn't even have its own full node client implementation. You're blatantly trying to deceive people.
  - nullc 6y ago
    > Who's "they". No one has lied about the premine. The crowdsale is well-documented by Ethereum-based information resources and there has been absolutely no effort to conceal or mislead about it. The founders and managers of Ethereum, who repeatability lie and claim that the premine was ~10% or that it wasn't substantially premined https://twitter.com/VitalikButerin/status/1208471215956013056 https://twitter.com/VitalikButerin/status/120847121595601305...
    - CryptoPunk 6y ago

2014

In late 2013, with expected delivery December 2014. I was poor, in college, and turned $70 of Bitcoin during the presale into $40,000 of Ethereum when I sold in late 2017. Do I get to call myself an angel investor now? ;)

1996 6y ago
Not until you get at least one more zero

nullc 6y ago

Ethereum's managers pre-mined 72 million coins, kept about 12 million to sell at later times, and sold many to the public (and also "sold" many to themselves personally, though we only know of the self-buys they chose to disclose-- the structure guarenteed more coins for insiders the more that they raised from the "public" so there was a big incentive for insiders to anonymously participate in the public sale). They forbid US persons from purchasing in their sale, which might be part of the reason the SEC never took action even though many people ignore the prohibition. You might assume that fact that they've subsequently lied and dissembled about the massive premine, or multiple times reduced the issuance rate of mined coins to prop up the price as they sold their own premined positions might count against them, but apparently not.

CryptoPunk 6y ago
>>You might assume that fact that they've subsequently lied and dissembled about the massive premine, Who's "they". No one has lied about the premine. The crowdsale is well-documented by Ethereum-based information resources and there has been absolutely no effort to conceal or mislead about it. >> or multiple times reduced the issuance rate of mined coins to prop up the price as they sold their own premined positions might count against them You're conflating the community, which is the amorphous entity that has reduced the issuance rate, in accordance with a long-standing plan to adjust it to balance the need for security, and the need for token store-of-value functionality, and the Ethereum Foundation, which has no say in the hard forks that the community choose to support or not support.
- randunel 6y ago
  > Who's "they". ETH Cofounders got to keep 10% of the premined pool; Ethereum Foundation also got 10% of the premined pool. I'd presume these are "they".
  - CryptoPunk 6y ago
    When did ETH cofounders lie about the premine?
- nadaviv 6y ago
  lol, what? This is not how things work in Ethereum. The foundation has the authority to do anything it wants, despite the community's wishes. The DAO bailout hard fork showed that very well.
  - bhaak 6y ago
    The Ethereum Classic community wants to have a word with you.
  - CryptoPunk 6y ago
    The foundation has no authority over the protocol. It's purely a R&D grant issuer. The protocol is completely consensus based. The foundation doesn't even have its own full node client implementation. You're blatantly trying to deceive people.
- nullc 6y ago
  > Who's "they". No one has lied about the premine. The crowdsale is well-documented by Ethereum-based information resources and there has been absolutely no effort to conceal or mislead about it. The founders and managers of Ethereum, who repeatability lie and claim that the premine was ~10% or that it wasn't substantially premined https://twitter.com/VitalikButerin/status/1208471215956013056 https://twitter.com/VitalikButerin/status/120847121595601305...
  - CryptoPunk 6y ago