David Vilaca
Scott Duncan, has the insight, I'm just sharing what I find along the way. I have been reading the white paper and the one thing that stood out was the ether. The issuance model will be as follows:
Ether will be released in a fundraiser at the price of 1000-2000 ether per BTC, with earlier funders getting a better price to compensate for the increased uncertainty of participating at an earlier stage. The minimum funding amount will be 0.01 BTC. Suppose that X ether gets released in this way 0.225X ether will be allocated to the fiduciary members and early contributors who substantially participated in the project before the start of the fundraiser. This share will be stored in a time-lock contract; about 40% of it will be spendable after one year, 70% after two years and 100% after 3 years. 0.05X ether will be allocated to a fund to use to pay expenses and rewards in ether between the start of the fundraiser and the launch of the currency 0.225X ether will be allocated as a long-term reserve pool to pay expenses, salaries and rewards in ether after the launch of the currency 0.4X ether will be mined per year forever after that point
Today I picked up a couple of raspberry pi's, I was planing to mine bitcoin with asic sticks, think I will wait for the ether.
Printed copy · Anthology Volume 6, page 7
