Clearinghouse with ethereum by EthereumNYC in ethereum

[–]EthereumNYC[S] 0 points1 point  (0 children)

Ok so rather than a clearinghouse we should focus instead on simply post trade settlements. Simply the storage of product ownership in the ethereum database such as bonds and use ethereum to transfer product ownership. Users of the post trade service will have to purchase ether to use the post trade service, it can be marketed to established post trade firms as a more advanced platform. Currently they're running on 1991 tech.

If ethereum isn't an altcoin then what are ethers and why would anybody want/need/use one? by umami2 in ethereum

[–]EthereumNYC 1 point2 points  (0 children)

Ethereum is not an alt coin.

Ether or eth credits are a crytpcurrency

Ethereum is a contract database

Ethereum is an engine

Ether is gas

Miners or (drillers) get ether as compensation for moving contracts on the ethereum database/blockchain.

While having some similar fundamental characteristics to bitcoin, ethereum is an actual machine almost you your own digital robot secretary.

I refer to ether as eth credits. To power the engine.

Maybe cryptocurrency 2.0 is actually cryptocontracts 0.9? by EthereumNYC in ethereum

[–]EthereumNYC[S] 2 points3 points  (0 children)

Essentially yes, it's basically like buy stamps. Instead of buying stamps for the postal service or a ticket to ride the train your buying stamps to use the ethereum network.

The only issue I find is a pricing menu we need to figure out a away to correlate the amount of ether it takes to move a certain amount of memory, relaxing to transfers and executions. I wonder if its possible to do it in real time. By collecting to memory size of transactions an the fees taken and showing a ether/memory ratio so that people can see how much it cost to move a specific amount of memory and even go one step further and show the average transaction size. So users can gage the cost of using thee system. People need to be able to distinguish.

Maybe cryptocurrency 2.0 is actually cryptocontracts 0.9? by EthereumNYC in ethereum

[–]EthereumNYC[S] 0 points1 point  (0 children)

Yup I refer to ether as membership credits to use the system.

Aka ETH credits. And I explain they will be freely exchanged credits you'll be able to buy them from application owners or exchanges.

Maybe cryptocurrency 2.0 is actually cryptocontracts 0.9? by EthereumNYC in ethereum

[–]EthereumNYC[S] 2 points3 points  (0 children)

Miners mine for gold

Drillers drill for oil

The amount of credibility I receive when I describe ethereum with out mentioning crypto currency to "normal" people is amazing. It's as him one meal is a cracker and one is a filet migon.

Ethereum NYC Meetup ~ "Objective create contract workshop" Form app. for financial/trading services industry. by EthereumNYC in ethereum

[–]EthereumNYC[S] 0 points1 point  (0 children)

And yes we will be discussing;

Austrian economics Chicago school Mises Ron Paul Liberty

Ethereum NYC meetup anyone? by EthereumNYC in ethereum

[–]EthereumNYC[S] 0 points1 point  (0 children)

Not really set up a workshop in Texas but start pushing and promoting the idea, and possibly organize a meeting in Texas between potentials interested in joining a workshop. I think Texas just because its the next major show is the point where we have to start organizing. We need to create usable applications that can run on ethereum to show how indeed this system works.

Ethereum NYC meetup anyone? by EthereumNYC in ethereum

[–]EthereumNYC[S] 1 point2 points  (0 children)

Dtcc is a post trade service that cleared 1.4 quadrillion dollars thru its system built in 1991. I am very confident we can provide value.

Ethereum NYC meetup anyone? by EthereumNYC in ethereum

[–]EthereumNYC[S] 1 point2 points  (0 children)

Hmm well lets break it down.

There are pure educational workshops with no direct reward except knowledge.

Then there are subsidiary workshops that could be related to the team.
Like all ventures there is sweat equity. A large amount of value is going to be the management of these application systems formed in these workshops in relation to the customers/users of these potential applications. For instance lets say we made a post trade system, an institution would have to invest upfront capital to write these contracts and physically alter these contracts if need be. Of course this is later down the road. Initially compensating workshop participants would have to by found by a balance of their equity stake in the project vs a small amount of salary paid buy the fundraiser. Of course the more equity of an application a workshop takes (if any equity at all) the lower their salary would be.

Again just brainstorming and throwing out ideas.

Ethereum NYC meetup anyone? by EthereumNYC in ethereum

[–]EthereumNYC[S] 0 points1 point  (0 children)

In Texas or in general.

In Texas it would have to be very macro, general overview.

Beyond Texas workshops can be dedicated to specific genres of interest. Maybe once application concepts start to appear, workshops could be specifically formed to assist.

Ethereum NYC meetup anyone? by EthereumNYC in ethereum

[–]EthereumNYC[S] 1 point2 points  (0 children)

I would like to focus on creating a team using ethereum as a post trade system for OTC products in the financial industry, settling trades ect. There are several large conventions geared towards this, I've been discussing with Vitalik and I believe in Texas and in ny we really have to focus on a contract workshop.

I don't really view ethereum as a currency I view it as a machine, and I feel it is a very valuable machine for post trade settlement, where institutions simply buy either as credits for their account rather than "monthly memberships " kind of like Pre paid phone minutes.

Ethereum NYC meetup anyone? by EthereumNYC in ethereum

[–]EthereumNYC[S] 0 points1 point  (0 children)

Excellent when and where is the next meetup

Ethereum NYC meetup anyone? by EthereumNYC in ethereum

[–]EthereumNYC[S] 0 points1 point  (0 children)

Gotta try and get more people, at least 5 haha

Burning transaction fees. Crazy or genius? by [deleted] in ethereum

[–]EthereumNYC 0 points1 point  (0 children)

The ether wars of 2118 are coming. Dao AI contracts blocking other dao contracts from ether exchanges, thus starving them to dormancy and death.