The apologist on the Reddit thread are hilarious, it's almost impossible to defend this action or hold it in good faith. There was no need to do this; this was a malicious and possibly illegal act before the exchange froze the coins.

I disagree Those coins are correlated with the ones on the ETH blockchain, and belong proportionately to the entire DAO (all participants). To not ask for community consensus before attempting to sell the coins feels a bit disgenuine;  they made a big deal about community 'consensus' for the hardfork.  Essentially, these coins don't belong to them completely, and they should have made their actions public as this is a pretty serious conflict of interest. Also, they have managed to make these coins non liquidable for the time being, they can't be returned by the exchanges. They have already made their motivations clear with their actions; the exchanges would be crazy to give them back the ammo they need to crash the price. So the exchanges will drag ass getting the coins back to them, whike the price goes up because there are that many fewer coins in play.

I don't think litecoin will surpass bitcoin because of trust (bitcoin has been around the longest) but I can certainly see it always being in the top five. It's like a strawberry to bitcoins vanilla. It serves a different purpose than btc ATM, that is LTC is more useful for quick value transfer. There might be a hype coin that pops up like a cookies and cream or a seasonal flavor. But you go with what you know, at least as far as American consumerism is concerned. I can see ltc taking a permanent second place however,  they actually take development serious, but slowly. I don't see all the cash grabbiness that's par for the course out here; guys have enough capital already where they don't have to look janky in order to keep going. Keep up the good work ltc dudes, you have provided me liquidity many a time and I salute you.

Apparently, the hard fork needed to happen. The resulting clusterfuck has revealed the true attitude toward the project the developers have, that is, this is more about profit than ideology. I'm not naive; I have bills and shit too and I understand how the world works. But these conflicts of interest are damn near criminal at this point, I hope people understand that the criticisms that some of us had with ETH didn't go away with the fork.

Fool me three.times, what's the saying for that?

Given the recent development in the ETH camp concerning the white hat DAO coin cache, I think it would be more appropriate to fear a dump from the freaking ETH Foundation instead of the 'attacker'.

Well, would be appropriate. The coins are in jail now. Now the supply is restricted, and I feel like that's the opposite of a good thing for the ETH camp.

That went well.

Minecache usually gets missing for a while when Ethereum stumbles

This doesn't surprise me from a motivation standpoint, but I am surprised at this from a logistical standpoint. How in the blue fuck was this going to work? Surely they didn't think they would be able to slide a shitton of tainted coins into a MAJOR EXCHANGE without someone freezing? Furthermore, said exchange would be brain-dead if it allowed them to crash that market, which is probably earning them a great deal of quid atm. This was a bold, bold misstep. And those funds are gonna be tied up forever. They certainly can't send them back; they are going to have to be released to a third party and I feel the authorities are going to get wrapped up in this eventually. This is shady icing on a suspicious cake they have been building since the first blatant conflicts of interest arose in this saga.

Well, I'm prolly gonna invest in ETC now. They just removed a major uncertainty, I hope the price doesn't hype surge before I position. Gotta move some money to the blockchain.

Until BTC can issue an 'FDIC'-like guarantee on my funds per wallet (account), banks will be a more secure and attractive option for those trying to hold larger amounts of value.

Speculation.

The price of none of these coins, even bitcoin, reflects the usefulness of the technology underlying it. These prices are purely born of speculation; it is simply too easy to invest in this sphere. It brings in the riffraff, so to speak.

Come on dudes, we all know the winningest coin for this decade.. drumroll please....

Ethereum.

Not only was this one the greatest, most expensive 'misstep' in the history of the alt scene, it still is happening AND folks are still investing. This made the most conventional media impact of any altcoin as traditional finance laughed at the crypto world's ignorance. ETH was the first time a smart marketing campaign came along with an alt, and folks weren't ready. They went crazed buying it, and the rest is history (and present and future I guess).

The DAO was the second largest crowdfund in history. Then, it shat the bed, but that's another story. Coin of the decade my ass, this is a coin of the century. Why? Because it will be a while before the public allows this to happen again, at least at the DAO magnitude.

For all the wrong reasons, ETH should take this cake. Being the largest fuckup should count for something.

While it may be arguable that the 'attacker' behaved criminally, as far as civilly he may not be so clear. Being that all the DAO participants are partners, taking the money like this is a violation of good faith, it seemed the attacker had no intention of participating in the DAO as a typical, mutual investor. This is a disservice to his 'partners' and could most likely be addressed in civil court. However, since the fork has happened, does this still even apply? Technically, this never happened on one chain. This shit is too next level for the moment, we are literally in uncharted territory.

When it's all said and done, most of this will play out in civil court. This is simply too cutting edge/high tech for conventional law to apply, it will be a stretch to apply criminal stature imo. What this is however, is a poorly written contract; the legal system has had those figured out for quite some time now

Save them! When it's not longer available (Sig campaigns) and bitcoin has risen dramatically, you will realize how much you really got paid for all that writing, retrospectively. With enough time, you may be pleasantly surprised

All things considered, banks are looking the more attractive option these days. People will grow to understand why the ach system is reversible; even though btc is a better speculative option than simply holding fiat, is it worth the risk? When it's gone, it's gone; some percents over the year is starting to be less valuable to me as the net size of my holdings increases. It's about security, not worth risking the pot for a few extra bucks.  Usability and security have much room for improvement.

Retire.


Out of the United States. Somewhere with legal pot and free healthcare.

Yeah, Trezor seems to be running with this hack thing, I have seen the word Trezor too many times today Guess they are advertising whike the fire is Hot.

Decent article, but mostly promotes Trezor (or at least a hardware wallet solution). TLDR: cold storage is win, hot storage is a necessary evil for the sake of usability, and buy a Trezor™.

You would think that, and then you read about guys buying more ETH, or sending HashOcean additional monies. It's like children playing here, you can never trust the 'common sense' response to an issue. Lost money? Throw more money at it.

Dumbass tax is brilliant, and I will be using this phrase liberally in the altcoin section from now on. It pretty much sums up this entire sphere, lol. Thank you sir

You get a cookie.

Two scenarios:

If no one spends bitcoin, and miners refuse to sell/hoard bitcoin, the price will go up. This is supply restriction.

If no one spends bitcoin, and miners dump on exchanges trying to make ROI, the price will go down. Supply has increased and there is less speculative interest, or demand. This is demand restriction.

This is the beauty of bitcoin however; if the price gets too low, miners will stop mining and difficulty will decrease, enticing more miners to join. Inversely, price gets ahead of itself and miners will dump, bringing the price back down to earth.

Not being clever here, what are BFF tokens? Is this related to that 'communal loss' bullshit they announced as a possible resolution? I'm not involved in this but I detest the 'share the loss' mentality crypto exchanges, loss is per participant in this game, not democratized across every user. If an exchange's bitcoin wallet gets hacked and I have DOGE, there should be no ill effects on my DOGE balance.

Edit: yep, these are debt tokens from bitfinex. More info here if you were clueless like me:http://www.dailymail.co.uk/wires/reuters/article-3727611/Bitfinex-exchange-customers-36-pct-haircut-debt-token.html

I want one of these so bad! Would prefer the keep key I think, but this would ease my mind (although intellectually I understand this could be done with paper wallets for cheaper ). I see the cost came down quite a bit since this debuted.

A question to all those that would question control: If China stopped mining tomorrow morning, if they shut it all down in tandem; would the network exist in a usuable form? Methinks no, it would congest to a crawl.

Control isn't always obvious until it needs to be exercised.

Until making a btc transaction becomes as fast and easy as swiping a debit/credit card at a point of sale, there is absolutely no motivation for customers to switch currencies. The infrastructure is already there; why reinvent the wheel? I agree btc is the more efficient choice, but unfortunately, it has a lot of usability issues to sort before it's ready for the prime time.