mtnsaa
Legendary
 Offline
Activity: 1568
Merit: 1000
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June 18, 2016, 11:32:35 PM |
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Yes this is something completely unexpected but it also comes with the territory if you have above 1 Billion market cap, similar to what happened with Bitcoin. I don't think Ethereum will crash & burn because this is not really a bug in itself, it's a bug in the smart contract however this implies that there will be many similar scenarios in the future (well we already knew that...any code could have bugs). ETH platform can't really be held responsible if someone decides to write a smart contract to scam people...
The problem here is that the DAO had ETH curators on board and many knew and looked at the code but couldn't fix it or didn't even noticed it. The whole thing was a rushed experiment looking for a problem and now it's a major hole in the ship.
I'll definitely buy in at less than $5 if it comes to that, after bearish sentiment clearly breaks. BTC maximalists are having a blast!
It was only by fluke that the default send function wasn't affected thanks to its limited gas supply - otherwise every smart contract out there could have been vulnerable. Writing smart contracts is made out to be a casual undertaking, like coding a web page, but it's not. Further, when a flaw is found, there's currently no way to upgrade the smart contract to fix it. This isn't the end of ETH, but it's not going to be pretty either - while there'll probably be a rebound from the current sell-off, I think this could be the beginning of a multi-month bear trend. It depends on BTC price, if it keeps rallying I can see it go back 0.01 very soon. It's clear that smart contracts are not secure so any future dapp & dao will fail to secure funds, who will invest into the next one after this? And ETH is completely exposed since if a bunch of leading developers couldn't find this bug. Every future smart contract depend on its code and while the ETH platform may be secure their dapps and daos are not and are too complex to create or develop. Slock.it was also one of their biggest parts going forward...people will begin to realize this, ETH above $10-12 is crazy but a complete selloff as you said won't happen in a day. |
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"Bitcoin: mining our own business since 2009" -- Pieter Wuille
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baomuydtab34261
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June 19, 2016, 01:35:44 AM |
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Today,the price of the ETH quickly go down , That has a little about ETH, the more important is that is the ETH center or not? why the block can focus the ETH's trasparent.
when the probem was solved the coin will rise again.
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helloeverybody
Legendary
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Activity: 1008
Merit: 1000
★YoBit.Net★ 350+ Coins Exchange & Dice
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June 19, 2016, 07:56:18 AM |
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Well this is typical, I've been mining for over seven weeks now and get nothing. Now as soon as the price has crashed i hit a block. Guess I'll just keep it and see what happens to the price.
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BitUsher
Legendary
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Activity: 994
Merit: 1034
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June 19, 2016, 01:45:28 PM |
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 Blacklisting Feature going in the next Geth and they are calling it "illegal hashes" . Nice Orwellian doublespeak. You cannot make this shit up. |
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Hyena
Legendary
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Activity: 2114
Merit: 1011
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June 19, 2016, 01:49:12 PM |
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Blacklisting Feature going in the next Geth and they are calling it "illegal hashes" . Nice Orwellian doublespeak. You cannot make this shit up. OMG Ethereum really is the worst thing happening to the crypto community. I hope it dies. Luckily, I've already made 70% profits on its downfall for the past 3 days. Ethereum the Vapourware is showing its true face. |
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Spoetnik
Legendary
Offline
Activity: 1540
Merit: 1011
FUD Philanthropist™
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June 19, 2016, 02:07:08 PM |
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I have come here tonight to chew bubble gum and dance on Ethereum's grave. And I'm all out of bubble gum.
I intend on opening it's mouth up and putting it on the curb.. so i can jump on the back of it's scammy skull ! GAME OVER SCAMTARDS Want profits Investards ? Get a job at McDonalds kidiots.. |
FUD first & ask questions later™ |
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marcus_of_augustus
Legendary
Offline
Activity: 3920
Merit: 2348
Eadem mutata resurgo
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June 20, 2016, 02:59:24 AM |
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DAO is kind of like a faucet to spread to ETH far and wide ... for free!!
Great marketing stunt (not sure how it makes money in the end game though guise??)
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Tacalt
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June 20, 2016, 11:18:37 AM |
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DAO is kind of like a faucet to spread to ETH far and wide ... for free!!
Great marketing stunt (not sure how it makes money in the end game though guise??)
That will finish if the soft fork happens. I think the DAO holders are busy convincing the miners to do a soft fork. |
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asdalani
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June 20, 2016, 03:20:04 PM |
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DAO is kind of like a faucet to spread to ETH far and wide ... for free!!
Great marketing stunt (not sure how it makes money in the end game though guise??)
That will finish if the soft fork happens. I think the DAO holders are busy convincing the miners to do a soft fork. The miners will do a hard fork. It is in their interest not for the thief to dump to the market. But they might not do a hard fork. |
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sanadas
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June 21, 2016, 10:00:56 AM |
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DAO is kind of like a faucet to spread to ETH far and wide ... for free!!
Great marketing stunt (not sure how it makes money in the end game though guise??)
That will finish if the soft fork happens. I think the DAO holders are busy convincing the miners to do a soft fork. The miners will do a hard fork. It is in their interest not for the thief to dump to the market. But they might not do a hard fork. There is a voting going on about the soft fork. There is no conclusion yet. The majority of the miners support soft fork. |
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Tacalt
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June 21, 2016, 11:59:59 AM |
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DAO is kind of like a faucet to spread to ETH far and wide ... for free!!
Great marketing stunt (not sure how it makes money in the end game though guise??)
That will finish if the soft fork happens. I think the DAO holders are busy convincing the miners to do a soft fork. The miners will do a hard fork. It is in their interest not for the thief to dump to the market. But they might not do a hard fork. There is a voting going on about the soft fork. There is no conclusion yet. The majority of the miners support soft fork. At the moment about 76% miners support soft fork, 20% against it. 4% do not care. The vote will continue for some time. |
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asdalani
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June 21, 2016, 02:24:17 PM |
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DAO is kind of like a faucet to spread to ETH far and wide ... for free!!
Great marketing stunt (not sure how it makes money in the end game though guise??)
That will finish if the soft fork happens. I think the DAO holders are busy convincing the miners to do a soft fork. The miners will do a hard fork. It is in their interest not for the thief to dump to the market. But they might not do a hard fork. There is a voting going on about the soft fork. There is no conclusion yet. The majority of the miners support soft fork. At the moment about 76% miners support soft fork, 20% against it. 4% do not care. The vote will continue for some time. That could be the reason for the recent price rise. That means the 3.6 million ethereum will not be dumped to the market. |
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mtnsaa
Legendary
Offline
Activity: 1568
Merit: 1000
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June 21, 2016, 05:57:39 PM |
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While 3.6 m won't be out there in the market, 11m ETH or whatever the DAO holds will be refunded soon after that. Guess what will happen then...ETH will most likely go back to $7-8 pre DAO prices if not lower...
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socks435
Legendary
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Activity: 2016
Merit: 1030
Privacy is always important
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June 21, 2016, 06:28:59 PM |
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Looks like ethereum is increase again in yobit. or this is just the effect of bitcoin price because of bitfinex and 19 million sold in austrailia?
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Solving blocks can't be solved without my rigs.
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yefi
Legendary
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Activity: 2842
Merit: 1511
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June 22, 2016, 01:03:10 AM |
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And the rebound. The return to normalcy - the 'everything is fine', the 'everything is fixed' phase. It shan't last...
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mtnsaa
Legendary
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Activity: 1568
Merit: 1000
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June 22, 2016, 02:15:12 AM |
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And the rebound. The return to normalcy - the 'everything is fine', the 'everything is fixed' phase. It shan't last...
I'm shorting, I hope I can remain solvent because I'm not sure how much higher I can leave my short open! |
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bones261
Legendary
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Activity: 1806
Merit: 1826
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June 22, 2016, 02:26:50 AM |
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And the rebound. The return to normalcy - the 'everything is fine', the 'everything is fixed' phase. It shan't last...
I'm shorting, I hope I can remain solvent because I'm not sure how much higher I can leave my short open! Some of the ETh Devs did a white hat attack earlier today. http://www.coindesk.com/ethereum-developers-draining-dao/You're timing for a short may not have been good. This is going to be a volatile time for ETH while the DAO wars begin. This is going to end up being a big mess. |
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forzendiablo
Legendary
Offline
Activity: 1526
Merit: 1000
the grandpa of cryptos
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June 22, 2016, 02:29:11 AM |
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ETH is a joke, it should die now and never come back.
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yolo
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Positid
Sr. Member
Offline
Activity: 378
Merit: 250
BULL RUN until 2030
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June 22, 2016, 02:47:19 AM |
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ETH is a joke, it should die now and never come back.
No mate, it is going to come back again at it's good price, if you have bought a good number of ETH when it crashed in the past few days you will earn a good profit now and you have enjoyed it already. I see DAO is a great opportunity to buy now, the price is below the ICO and it is a big project so it will not die easily. |
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Dice Duels |
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yefi
Legendary
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Activity: 2842
Merit: 1511
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June 22, 2016, 03:10:21 AM
Last edit: June 22, 2016, 04:04:25 AM by yefi |
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I'm shorting, I hope I can remain solvent because I'm not sure how much higher I can leave my short open!
You don't want to have shorted it from too low, as there's still some potential upside. On the other hand, the current run has hit the trend line from 0.008 to ~0.015, so this could turn form support into resistance now: Next natural pit stop after that would be 0.022.//edit: well, they're pumping it like a bitch now lol. |
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