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Author Topic: What Doesn't Kill Etherium, Makes It Stronger?  (Read 504 times)
psixa (OP)
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June 21, 2016, 03:29:11 PM
 #1

The whole internet is full of thoughts like "Ethereum may dye, because DAO was hacked".

To explain simply, my view of the situation is the following:
When a security or financial system of big banks/organizations is compromised and they are robbed or bankrupted, the main monetary system stays mostly intact or at least alive (with some inflation and less value). Certainly in this case the bank/organization is DAO and the monetary system/currency - Ethereum.
Also we know, Ethereum had no security problems, but the DAO itself.

So guys, how do you think, do I see the whole picture or am I missing something very important in case of the cryptocurrencies that is very different from fiat systems and really meters? Is there a fat chance a fat cryptocurrency like Ethereum may die ever because of the security reasons? Is there a precedent of happening this with any other altcoins?

P.S. I am new to this world and BitcoinTalk, all your knowledge and thoughts, any comment are highly appreciated!
iamnotback
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June 21, 2016, 03:33:05 PM
 #2

Keep in mind that this is the same attacker who attacked Mt.Gox. He doesn't waste his time trying to convince you. He just does it.

His attack is ongoing and (assuming he succeeds) you won't realize he has won until it is too late for you to sell ETH.

...

His [the "attacker's"] opinion on whether Ethereum will survive his "attack":

Quote from: TheCon
The whole of ETH and DAO was a con to start with. Bunch of rich btc invectors wanted a new play toy. Don't worry folks the price will shoot back up because no one cares if there is security risks or a Ponzi that will never be used by ordinary citizens

DAO is a casino that just got robbed buy like all casinos they never fall because of human greed.

That [bolded] part is right.

You'd probably want to read the entire post quoted above, by clicking it to go to the thread whence it came.
psixa (OP)
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June 22, 2016, 11:43:43 AM
 #3

Thank you very much for the reply, I already read the entire post, very interesting and I recommend it to everyone!
SmirkinPepe
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June 22, 2016, 12:11:25 PM
 #4

iamnotback how do you know for sure who the attacker is?
you seem to imply its MP but he merely posted something without anything linking him to the deed...
mining1
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June 22, 2016, 02:31:52 PM
 #5

All these topics have one singl purpose: fud
Most people here that are fudding are following their own interest. Some sold after hearing the news like every1 else, hoping to buy cheap but surprise: people arent that naive and all their hopes to buy cheap are dying because price is goin up again and theyre getting desperate. Some other fudders are bitcoin hodlers that dont want any competition, that much trust they have in heir precious btc bag lol. So if you read this toic to get some/ any information then dont, everyonell will advice yu to do the opposite of what theyre doing.
pereira4
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June 22, 2016, 02:35:07 PM
 #6

All these topics have one singl purpose: fud
Most people here that are fudding are following their own interest. Some sold after hearing the news like every1 else, hoping to buy cheap but surprise: people arent that naive and all their hopes to buy cheap are dying because price is goin up again and theyre getting desperate. Some other fudders are bitcoin hodlers that dont want any competition, that much trust they have in heir precious btc bag lol. So if you read this toic to get some/ any information then dont, everyonell will advice yu to do the opposite of what theyre doing.
You are accusing others of having agendas on their comments to FUD or shill in relation to their holdings, yet, your comment here sounds exactly what a ETH bagholder would say.

Im just being honest: I don't see ETH being trusted long term after this fail. Short mid term? Im almost sure it will pump because there are lot of whales involved. Or maybe the marketing and bankster approval is so deep in ETH that it ends up being a success even after making such a failure and clown act by Vitalik, who knows. The harsh truth is things don't need to be decentralized and ethical to be a success and make you rich, if rich banksters are behind they can pump it anyway.
mining1
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June 24, 2016, 07:13:35 AM
 #7

It wouldnt be trusted long term only if they would let the hacker get away with the money. Lets be clear here, in crypto world bitcoin won the space race  but ethereum is comparable to first colony to mars. If you let hackers run away with money and show your potential big investors middle fingers if they aren't perfect at using this whole new technology called ethereum, then you simply kill what ethereum is about, technology . Ethereum is not simply a fork of something simple  that was already done before, its something new with huge complexity which is still developing . Your argument would stand if ethereum would be a 100% finished project, but it isnt.
And as i noticed, not even these "self proclaimed geniuses" here on BTCtalk dont even understand ethereum from a technical point of view ( i am not technical but i try to compensate it with logic) . They looked at a beta unfinished product as entirely flawed and on top of that with unusable smart contracts. And after a while they managed to catch up thinking about use cases for smart contracts, this being another proof that ethereum devs are on a whole new level compared to every single developer here on btctalk criticising ethereum. Or they might simply be jealous or trying to fud, but mostly they proved themselves as average coders.
P.S : my eth bag is smaller than 150 and im not a day trader / speculator to make fud or pump threads everytime i want to buy or sell like these worms out here.
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