Eth Implementers Call #3 [Live 9/13/18]
ETH is not dead. – 94 of the top 100 projects built on Ethereum – Lightning aiden Network close – Devcon4 already sold out – Block reward reducing – ETH futures soon – Dev community >250k – ICOs still raise in ETH – 14k decentralised nodes – Vitalik is a genius. Original Tweet – [https://twitter.com/AlexSaundersAU/status/1039848153900494848](https://twitter.com/AlexSaundersAU/status/1039848153900494848)
There is a gith hub discussion related to implementing hard fork that bricks ASIC mining devices yet Vitalik and the devs thought it would be best to just reduce the mining rewards, driving miners away from this coin in return.
The link related is here: [https://github.com/ethereum/EIPs/issues/958](https://github.com/ethereum/EIPs/issues/958)
TLDR below. See the [Github repo](https://github.com/fuguefoundation/smart-contracts) for detailed information.
I’ve deployed a smart contract loaded with 0.5 ETH. The address that guesses closest to when ETH hits 500 USD (as determined by an oracle) wins the bulk of it. There are 14 days of guessing, starting as of block 6298999. Once we hit 500 USD, a secondary prize is immediately up for grabs (10% of balance, an incentive to call a certain function asap). Then a 7 day nomination period begins (for those who think their guesses are competitive), after which a winner can be declared to receive the remaining balance. Feedback welcome, and I imagine there are more elegant ways to do some of this but I’ve given the contract logic and game theory a lot of thought and just needed to pull the trigger on it with some real ETH on the line.
[Contract address](https://etherscan.io/address/0xfbf9ae92ecb05bc436d9b1e6c1d928824aedb2f1), code verified on Etherscan
Original Reddit threads [here](https://www.reddit.com/r/ethtrader/comments/8ta4l4/eth_at_1000_usd_smart_contract/) and [here](https://www.reddit.com/r/ethtrader/comments/8tgjqk/update_eth_at_1000usd_smart_contract/) for background.
My small gift to the crypto community, enjoy and good luck!