David Rosenthal: uncertainty

Transcript context

…Can you incorporate? Does that word mean corporation? I don't know if they start, they instantiate—to use a developer phrase. The crowd sale starts on July 22, 2014 at midnight, Swiss time. It runs for two weeks. They sold $2.2 million worth of ether in the first 12 hours. By the end of it, they sold a total of 60 million ether for $18.3 million, which was way more than any other crypto crowd sale in history to that point. Even just thinking back to 2014, this is essentially a seed round for a company. An $18 million—to use the VC world analog—that's crazy. Nobody raised that much money. This is huge. Now, we have to actually launch the thing. Gavin's like, I've been telling you guys all along, we got to launch the thing. The plan is that they're going to launch in January 2015 and then throughout the year of 2015, they're going to roll out the network in five phases. By the end of 2015, they will have rolled out the final fifth phase, which is going to be called Serenity, it's the codename. All five phases in that first year?…

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