Crypto-currency investment continues to be highly-rewarding for the early adopters:
While blockchain developers have long aimed to provide users of digital currency with privacy, the technology offered by Zcash could offer its users a hereto unforeseen level of anonymity. Now, investors have taken note. […] This hype is evidence in the sharp price gains that Zcash futures contracts have enjoyed ahead of the cryptocurrency’s 28th October launch. […] The contracts, which trade against the price of bitcoin, have surged from a low of $18 (0.027 BTC) on 15th September to a high of $261 (0.379 BTC) as of yesterday, a change that represents an increase of nearly 1,300%. […] … At the time of its initial crowdsale, the price of one ethereum token (1 ETH) was roughly $0.30. Today, it’s $11.93, or a nearly 4,000% increase. A similar appreciation has been observed in bitcoin, which rose from $0 to $685, and Augur’s reputation toke (REP), which rose from roughly $0.50 to more than $6 today.
Monetary exit-pressure is clearly non-negligible.
More Zcash release news here.
I, for one, welcome our new species of robber baron overlords (non-ironically):
I have carefully examined the code of The DAO and decided to participate after finding the feature where splitting is rewarded with additional ether. I have made use of this feature and have rightfully claimed 3,641,694 ether, and would like to thank the DAO for this reward. It is my understanding that the DAO code contains this feature to promote decentralization and encourage the creation of “child DAOs”.
I am disappointed by those who are characterizing the use of this intentional feature as “theft”. I am making use of this explicitly coded feature as per the smart contract terms and my law firm has advised me that my action is fully compliant with United States criminal and tort law. For reference please review the terms of the DAO …
(Learning is hard.)
The reddit FAQ.
This sentence is nicely done (whichever way one wants to run it):
Of course, the biggest problem behind a revolutionary new investment fund dictated by computer code could well be human nature. …
Steven Omohundro, cited here (with podcast link):
… Ethereum is the most advanced of the smart contracting ideas, and there’s just a flurry of insights, and people are coming up every week with, ‘Oh we could use it to do this.’ We could have totally autonomous corporations running on the blockchain that copy what Uber does, but much more cheaply. It’s like, ‘Whoa what would that do?’ […] I think we’re in a period of exploration and excitement in that field, and it’s going to merge with the AI systems because programs running on the blockchain have to connect to the real world. You need to have sensors and actuators that are intelligent, have knowledge about the world, in order to integrate them with the smart contracts on the blockchain. I see a synthesis of AI and cryptocurrencies and crypto-technologies and smart contracts. I see them all coming together in the next couple of years.