Can You Trust The Ethereum Team?

When I invest into an alt coin I really do not care about their technological advancements or features.  What’s important to me are the people involved in developing the alt coin and the marketing the have behind the new coin.

The questions I like to ask myself include:

  • Can I trust the alt coin developers?
  • Are the going to run off with my money?
  • Do they have the talent to do what they claim they want to do?
  • What are their experiences in cryptocurrencies?
  • Who is doing their marketing?
  • Lastly, what is their technological edge or advantage?

These are some of the questions that my friends and I like to consider before we put our hard earned money into a risky new cryptocurrency other then Bitcoin.

In this 4th video interview with Vitalik Buterin (one of the co-founders of Ethereum (ETH)) at the first Texas Bitcoin Conference held in south Austin, I will hammer Vitalik with some tough questions on why potential investors should trust him and his Ethereum team members to not run off with everyone’s money.

Here is video interview (4 of 6) with Vitalik conducted by myself, Leon Fu, and James D’Angelo from the World Bitcoin Network:

Afterwards, I will also drill Vitalik about his background and experiences in cryptocurrencies to see if he has the computer science and coding skills that is required to make the Ethereum project successful.

Keep in mind that I’m not a coder so it’s very difficult for me to accurately determine if Vitalik is a genius coder or not.  I’m not even close to being qualified to question Vitalik’s coding abilities.

However, what I like to see is his response to my questions. If he is for real, he should not be uncomfortable about being in the hot seat.

Furthermore, I have my buddy Leon Fu (one of the world’s top iOS developers) so he is very familiar with coding and can more accurately access Vitalik’s skill level.

I also brought in James D’Angelo from the World Bitcoin Network who is an MIT grad and fully capable of reading the Bitcoin source code and a programmer himself.

During the interview, James mentioned a technical issue he was running into while studying the Bitcoin blockchain and I was pleasantly surprised to see that Vitalik understood the problem and was able to quickly provide a solution for James.

As a potential investor, I was reassured of Vitalik’s coding qualifications after I witness his response to James’ blockchain issue.

I hope these series of videos about Ethereum will help you make a better and informed decision whether or not to invest in Ethereum.

Here is the interview we did with Vitalik:

Tai Zen:   What’s up guys?  This is Tai Zen again with prisonorfreedom.com.

It is a blog where we talk about the tools, the techniques, and the strategies and the technologies that is available to help people find freedom in their life.

And with us here today is James D’Angelo from the World Bitcoin Network, and we also have here Vitalik, with the Ethereum project.

These are some of the guys that is in the forefront of helping people find freedom when it comes to the currency world.

How old are you Vitalik?

Vitalik Buterin:  I just turned 20, month ago.

James D’Angelo:   Congratulations!

Tai Zen:   Okay, good job! Hey, is it /vay’talik/ or /vita’lik/?

Vitalik Buterin:  /vay’talik/

Tai Zen:   /vay’talik/ Okay. And last name, Buterin?

Vitalik Buterin:   Yeah.

Tai Zen:  How can they trust you? You are 20 years old now, right?

Vitalik Buterin:   Yes.

Tai Zen:   You are involved in launching one of the largest and most expensive and highest and biggest market cap, alt coin there is. How can people trust you? And when I say trust, there are two things.

One is, how can the public trust that you are qualified coder or you are qualified developer in the computer code that you are talking about?

Vitalik Buterin:   Well, in terms of my own qualifications, I have got a profile, I’ve written, several Bitcoin libraries. I have written what was the most advanced form of Bitcoin JS web before they came along. I have high Bitcoin tools, so you can look and set it up yourself.

But also, I am not like the one doing most of this stuff. Like also, we have got a whole bunch of other people on our team.

Vitalik Buterin:   And once we get more resources, we are going to hire even better people.

Tai Zen:   Just out of curiosity, how long have you been coding?

Vitalik Buterin:   Well, I do not remember the first time I programmed.  Maybe I was like eight or ten, or so.

Tai Zen:   So you’ve been doing it all your life?

James D’Angelo:    His libraries are great.

Vitalik Buterin:   The other issue is that, first of all, it is memory hard.

It is going to be harder to make ASICs, but probably not going to be impossible. But the nice thing is that, if ASICs exist, then those ASICs are going to be simultaneously be ASICs for processing transactions. That also would help our scaleability problem.

James D’Angelo:  So, does not that mean that if you are digging into the block chain according to my understanding that you are going to be actually going to parse the block chain much more, with a little more error on it right now.

The Bitcoin block chain is so packed that I can’t get in on it on my bitcoin D and just grab stuff.

Vitalik Buterin:   Well, you can grab stuff. Like in the Bitcoin D block chain, if you set the TX index equals 1 flag then you can actually query any transaction.

James D’Angelo:   Are you serious?  LOL!

Vitalik Buterin:   Yeah.  LOL!

James D’Angelo:   I got to write that stuff.  LOL!

Tai Zen:   So, that is to show he is qualified.  LOL!

James D’Angelo:   Say it again… exactly, what is it?

Vitalik Buterin:   So, in the Bitcoin.directory and the bitcoin.con, you set the flag TX index equals 1.

James D’Angelo:    And I can now query every transaction?

Vitalik Buterin:   Yeah.

Tai Zen:   Just rewind the video if you missed that one.

James D’Angelo:    It is not me who has lost a lot of time. It is a lot of people that have been working on parsing.  I haven’t really jumped in that. That’s from what they’ve been telling me.

Tai Zen:    Now that the people understand that you are a qualified coder, the next question regarding trust is, “How can the people know that you are not going to run off?”

Vitalik Buterin:   If you are here, if you run off. I see at the next conference I can punch you in the stomach or something, but what about people on the other side of the world?

Vitalik Buterin:   The money that we receive on the Ether pre-sale was going to go straight into a multi-signature account. So, at least three of us are going to have to run off at the same time.

Tai Zen:  So, when you say three of us, that means three of the four founders?

Vitalik Buterin:   Well, three of the eight probably.

Tai Zen:   Eight founders?

Vitalik Buterin:   It is somewhere between four and eight. But, yeah.

Tai Zen:   So, you yourself are not going to be able to sign away and run off with the Bitcoins.

Vitalik Buterin:    No.

Tai Zen:   Thanks for spending time with James D’Angelo from the World Bitcoin Network and myself. We wish you great luck.

Vitalik Buterin:   Thank you.

James D’Angelo:   Thanks Tai for putting all this together.

Tai Zen:    All right guys, thanks for joining us and what I will do is I will get Vitalik’s Bitcoin address and leave it at the bottom of this video, and James D’Angelo also.

If you guys appreciate their work, I invite you guys to support them and send donations their way.

James D’Angelo:    And Leon’s as well.  LOL!

Tai Zen:    And Leon’s as well.  LOL!

James D’Angelo:   The cameraman.  LOL!

Tai Zen:    Yeah. And send them some coffee donations or soda donations. I am pretty sure you drink a lot of soda when you are programming.

Vitalik Buterin:   No, actually.

Tai Zen:   Coffee?

Vitalik Buterin:   Green tea.

Tai Zen:  Green Tea? Okay, there you go. Send some green tea donations to him. All right? So, thanks for joining us and I will see you guys in the next video.

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Click the link below to watch part 5 of our conversation with Vitalik where we talk about Ethereum mining:

Part 5 – What Is Ethereum (ETH) Mining?

You can support and donate to our efforts on our donations page.

Be sure to also donate Bitcoins and support the work of James D’Angelo and the World Bitcoin Network at his BTC address:   1javsf8GNsudLaDue3dXkKzjtGM8NagQe

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