Bitcoin Forum

The attacker has transferred his funds from the child DAO. I think he is about to dump them because the price is that high.

https://steemit.com/ethereum/@soapsadu/3641694-etc-is-moved-from-the-child-dao

Is this the end of ETC?

It would be tremendous for ETC if he dumped them . The price would go down then probably up strongly

If he did dump, and as far i know people who have large amounts are usually a little cleverer than the average yobit zombie, that clears the way and etc is ready to rock.

the strange thing is, that this address also has 38000 ethereum on the forked chain.

why would someone move over 3million etc to an address that has 38000 eth also on the forked chain.

wouldnt this make the funds on both chains open to replay?

Stop with the FUD you ETH bagholders.

1) The hacker cannot sell the coins no matter how he moves them.

2) Once the countdown ends, he will not sell because he knows that we are going for parity with ETH. He will simply keep the coins and become an ETC mogul once the project solidifies in ETC's blockchain.

Time to buy before we go 0.01 and beyond.

Why can't he sell?
Why will he wait for another fork that can blacklist his address? He'll sell asap.

And who exactly is going to fork etc chain ? It's fully decentralised like bitcoin is. Those etc he has are his and no one can take them from him.

Exchanges can blacklist his address(es) for deposit. He can try to sell before they have implemented this "fix" in their software.

He will not sell, only ETH bagholders don't get it yet. This is a blockchain war, he will fuck up Vitalik by making ETC the surviving chain and get rich in the process, he is not going to sell now when he can wait for parity and higher once ETH goes south. Plus his funds are still locked anyway.

Exchanges aren't going to do shit. Poloniex will certainly not. They were the first to accept ETC is real and they will not destroy their prestige by banning a certain amount of coins. Remember than in crypto fungibility is all that matters, all ETC is ETC. Same for BTC, all BTC is BTC. What do you think would happen to an exchange that suddenly starts blacklisting certain coins? Get real.

There are plenty of cases of exchanges freezing funds.

Since these addresses are so well known i really can't see them letting them onto the market.

They may not freeze them but they'd certainly reject them.

Well one thing is certain, poloniex won't freeze his adress for the same reason they added ETC after they told everyone they wouldnt. Profit. Most likely, if he decides to sell, poloniex will be his choice. And seeing that a whale is pumping ETC on poloniex while crashing BTC price, i think they might be related somehow. What do you guys think ?

I think the probability of a harmful dump would be much higher from the original DTHs than the attacker. The attacker can't sell all that at once nor at a rapid pace without drawing attention from the exchange he is doing it on. It is also hard for him to sell OTC. This leaves selling small amounts over time to ensure he gets the most value out of it as well as avoid attention. Do you agree with my theory?

Why are you spreading your ignorance everywhere? What you're saying is actually not just ignorant but plain lies at this point.

Please think. The whole point of ETC existing is that those funds were not considerated as stolen funds, but as a reward for the hacker by finding an exploit into a smart contract. Therefore it makes absolute 0 sense that Poloniex would allow ETC to then let funds being blacklisted.

In any case, the hacker is not going to dump, he is going to sit back and relax as he watches ETC go higher and ETH dies. He is not stupid and he knows this is a lifetime opportunity to not only give Vitalik and the rest a lesson, but to get rich in the process.

What a flawed logic, pereira, you're incredibly stupid.

The hacker will prepare to pump the price of ETC higher before he can sell. I am sure he won't just dump them into the market in one shot. He will slowly sell his ETC while it is going up. The price of ETC is still low so I won't worry about the hacker selling for now.

Please explain (without the insults).
He speaks perfect sense to me.

Rumour has it he's preparing for a MASSIVE simultaneous ETC criminal coin dump.

That might kill ETC in minutes.

You are correct. It will kill it dead. I fear for those gullible idiots who bought into the ETC criminal coin hype. You are about to lose your shirts and be left with less than useless bags.

Meanwhile I am debating with myself if I should sell my ETH.

That's a call you need to make with yourself however personally I'm hodling. Did you sell your ETC? I have not because I do not support criminals.

I didn't sell my ETC, when the fork occurred I had the funds in an online wallet, not sure how to make the splitting.

I will probably hold until it reaches 12$ again.

It would make a lot more sense for him to hold until they reached price parity, then dump it on both chains, which would negate the effect on either chain to some extent. But, there are rumors that the hacker is an insider, so I'm not sure the person will ever sell. Sometimes I suspect this was the desired outcome, and a way to undermine BTC.

He's a whale just like any other whale. Whales are not stupid when you realize you sit on holdings to retire for life you tend to make sure you get as much as possible for it.

Very good point. Fungibility can be attacked in more than one way.

so I can't deposit over $2000 value on poloniex without getting my account frozen, but they'll let shadily obtained coins from one of the most publicly known addresses in crypto and let it waltz away?

even if it's not technically theft they'd be dumb not to to reject them otherwise they'd be letting themselves in for a world of legal uncertainty. even if it ain't now, it might be in the future. they choose who they do or don't want to do business with.

they're not guardians of fungibility or the sanctity of any blockchain. they're private businesses coming under more scrutiny every day whose only loyalty is to themselves.

but no, they're not gonna be dumped in my opinion either.

If I had a ton of coins I wanted to sell, that's what I'd do.  But the question is, how much time do we have?  Worst case scenario, the ETC price will crash and then he'll want to panic sell to get what he can.  Best case scenario, the ETC price rises, in which case the market will absorb the small amounts he sells over time.  I imagine the "hacker" is savvy enough to know how this all works, and will not risk destroying the ETC market.  If he's smart, he'll devote his efforts to strengthening and bolstering ETC, as this safeguards his wealth.

I agree, it makes total sense what he says

All you guys have done is to help this "hacker" along his way. Telling him where the pitfalls are and how best to make profit from his pump and dump scheme ::)

All he has to do is to log into bitcointalk.org... so many analysts online. ::)

I agree... if he wants to lose everything :D

Insider or not , he will eventually sell . WE are talking about millions of $ here.

I don't think he will sell his ETC at once . Is better for him to sell it with considerable amounts.

He will dump all at once across simultaneous exchanges. Note how he's already begun moving the funds. All this criminal wanted was cold hard cash and all you clowns will be doing is filling his bank account.

how long until he can actually sell it?

These 3.6 mil ETC are on the child DAO contract for now 0x10abb5efecdc09581f8b7cb95791fe2936790b4e
They can be withdrawn at least after 27+14=41(slightly less) days.

He is not stupid and will not dump everything in one go. Instead he will let it bleed slowly and play with the price.
Pump even higher and god knows what else:)

Maybe he is mad enought to try destroy ETH with reply attacks and shit. Hopefully the hacker is only greedy:)

That would be good. Hope he dumps, price crashes, and then recovers as no more looming danger over etc supporters about those hacked dao funds. the same for the white-hat dao funds.

He can't do anything before the 31 august i think

or from dao etc they were all in their addresses?