[RemoteWorker]

Do you guys realize Bitcoin transactions are not reversible? Why not update your "security protocol" and take advantage of this new technology? Btw Ethereum is a scam. Why would you support that instead of say sidechains or Counterparty, and take advantage of the already existing code, infrastructure, adoption, and network effect in general?

[drdeca]

Can you clarify what you mean by scam? (note: I did not purchase any ether at the presale, and I do not own any of any cryptocurrency. I have no financial stake in any cryptocurrency succeeding. I am interested by the ideas in Ethereum though.)

Are you saying that it is a scam because you consider anything which has a presale to be a scam? (Or because of part of how the presale was set up, and what guarantees were or were not made at the time? Or because of the magnitude of the presale?) Or do you not believe that they will create what the have stated that they intend to create?(and believe that they have intentionally deceived others in this regard.) Or do you believe that what they create will be insufficiently secure due to network effects, and that that alone makes it a scam?

Or do you mean because of the proof of stake thing, and the nothing at stake problem? (In that case, note that they said that they are starting with proof of work, and I believe they also said that whether they actually do switch to proof of stake depends on what the users decide? I found vitalik's post about "weak subjectivity" to be fairly convincing. There seems to be a good faith belief that it does not contribute significantly to centralization, and as such, even if it is wrong, I don't think I would consider it to be a scam.)

Or some other reason which I have not considered or listed, of course.

[aml183]

Thanks for your concerns. We will actively check out all cryptos! It would be ideal to leverage the technology that has been built through bitcoin and something we will look towards.

[RemoteWorker]

Glad to hear that. Some additional info then: Counterparty published an Ethereum version built on top of Counterparty. Ethereum responded by building Counterparty on top of Ethereum. The obvious difference is that Counterparty uses Bitcoin's blockchain and security, while Ethereum has nothing. To makes things worse they use PoS which we know can't be made both secure and decentralized at the same time. That's why all PoS coins are centralized through checkpoints or whack-a-mole style security patching.