gravitate (OP)
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June 17, 2016, 09:00:24 AM |
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So the DAO is getting drained as we speak. 150 million investment into crypto gone just like that.
So how will this effect the bitcoin price?
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To peel or not to peel.
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OmegaStarScream
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June 17, 2016, 09:06:42 AM |
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As you can see , those three coins who came from nowhere and bypassed all other altcoins are going down. They are simply a pure manipulation ..and here is how they went down in the last 24 hours :  |
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Snorek
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June 17, 2016, 09:24:18 AM
Last edit: June 17, 2016, 09:35:23 AM by Snorek |
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I don't want to laugh at their misfortune, but that is exactly why I don't like altcoins. They are too unstable, too unpredictable and too risky. It is sad that people instead of focusing on making the best digital currency even better want to waste time and effort on possible pump and dump altcoin schemes. More Info about this case here: https://www.cryptocoinsnews.com/ether-price-plumets-ethereum-dao-may-be-hacked/ |
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CoinCidental
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Si vis pacem, para bellum
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June 17, 2016, 09:42:39 AM |
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This is majorly serious shit..... Eth might not recover if there is a holes in their code that can lose $150 million dollars in an hour....
Still unclear what happened
Is it the DAO or eth that got drained?
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randy8777
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June 17, 2016, 09:45:15 AM |
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just look at that massive btc dump bringing the price from $770-$780 to very low $700's. i don't think the panic has ended yet. i think we might very well see the price dive below $700 today or tomorrow.
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RawDog
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June 17, 2016, 09:48:34 AM |
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This is majorly serious shit..... Eth might not recover if there is a holes in their code that can lose $150 million dollars in an hour....
Still unclear what happened
Is it the DAO or eth that got drained?
Eth will recover for sure. But, they will see many similar attack vectors in the future just like this one. The quick way to learn about these is to lose $50 million in an actual attack. After a day or two of hard work, the patch is done. But, Eth is going to have many more attacks in its future. But at the end of the day it is totally going to blow bitcoin out of the water. $50 Million - that sure is a big bounty. |
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Wendigo
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June 17, 2016, 09:58:32 AM |
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Wait so if I understand correctly DAO is an organization that has $150m at its disposal to invest in Ethereum-based projects and some hacker managed to drain $50m out of the organization's wallets? Is there a vulnerability in the Ethereum network or something went wrong with the DAO's security maintenance? I have been out of the Ethereum loop for a while and now I am reading that the DAO operators are helpless at figuring out the hack this is hilarious. Here is the address with the hacked ETH: http://etherscan.io/address/0x304a554a310c7e546dfe434669c62820b7d83490 |
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BitMaxz
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Block halving is coming.
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June 17, 2016, 10:02:49 AM |
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I think this is just the effect of bitcoin its in demand in other exchange site or almost all exchange site i think its in demand and more investors are now converting in bitcoin because they believe that bitcoin price will increase more.. thats why ethereum and DAO are decreasing..
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Vaccinus
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June 17, 2016, 10:06:51 AM |
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etheruem is a scam i was always thinking about it as a scam, from the moment vitalik dumped his 1M worth in ethereum, i would not invest a penny in that thing, the fact that it is worth 1B is ridiculous, that money should be in bitcoin
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partysaurus
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June 17, 2016, 10:12:06 AM |
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etheruem is a scam i was always thinking about it as a scam, from the moment vitalik dumped his 1M worth in ethereum, i would not invest a penny in that thing, the fact that it is worth 1B is ridiculous, that money should be in bitcoin
could not agree more. vitalik dumping 1m was the thing that got me to go the other way. |
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pedrog
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June 17, 2016, 10:12:17 AM |
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WOW, this is huge!
Why is this affecting all other markets and not only Ether/Ethereum markets?
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OmegaStarScream
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June 17, 2016, 10:16:16 AM |
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I'm the only one who thinks this is pure manipulation ? how can you guys tell that this is not another "we got hacked" scenario ?
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BitTyro
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June 17, 2016, 10:19:55 AM |
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WOW, this is huge!
Why is this affecting all other markets and not only Ether/Ethereum markets?
That was what I'm thinking too. Even lisk was down 14% at some point. Many uninformed holders are having a panick attacked hence they dump all their altcoins? Almost all coins in Poloniex are in blood bath. |
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RawDog
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June 17, 2016, 10:21:15 AM |
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I'm the only one who thinks this is pure manipulation ? how can you guys tell that this is not another "we got hacked" scenario ?
Because the entire Ethereum team is shitting bricks trying to stop it. It is not a scam. It is a major hack attack. First of many to come. |
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gravitate (OP)
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June 17, 2016, 10:25:39 AM |
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Good time to buy lisk lol
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To peel or not to peel.
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Its About Sharing
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Antifragile
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June 17, 2016, 10:31:30 AM |
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Good time to buy lisk lol
True, but it got knocked down more than Ethereum! Now recovered more. If it had happened with LISK, I think they could have tried to just kill the sidechain. Found this "but so far it seams that hackers ETH are locked in that child DAO contract and can't just be sent anywhere else and dumped" So, looks like the Hacker just created a scare. |
BTC = Black Swan.
BTC = Antifragile - "Some things benefit from shocks; they thrive and grow when exposed to volatility, randomness, disorder, and stressors and love adventure, risk, and uncertainty. Robust is not the opposite of fragile.
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Lauda
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Terminated.
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June 17, 2016, 10:37:17 AM |
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In the mean-time Vitalik has tried to get all trading to stop. This is not what is supposed to happen in a decentralized system, nobody should have that much authority.  |
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" 😼 Bitcoin Core ( onion) |
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mayax
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June 17, 2016, 10:46:45 AM |
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In the mean-time Vitalik has tried to get all trading to stop. This is not what is supposed to happen in a decentralized system, nobody should have that much authority. if you have money in a shit "decentralized system", would you prefer to lose all your funds or accepting that someone can stop the tradings and returning your funds back ?  |
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Lauda
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Terminated.
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June 17, 2016, 10:49:30 AM |
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if you have money in a shit "decentralized system", would you prefer to lose all your funds or accepting that someone can stop the tradings and returning your funds back ? Subjective bias is invalid in this argument. In other words, ETH is not decentralized. The hacker is the lesser evil here. |
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" 😼 Bitcoin Core ( onion) |
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RawDog
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June 17, 2016, 10:52:04 AM |
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if you have money in a shit "decentralized system", would you prefer to lose all your funds or accepting that someone can stop the tradings and returning your funds back ? Subjective bias is invalid in this argument. In other words, ETH is not decentralized. The hacker is the lesser evil here. Bitcoin is also not decentralized. G.Maxwell and Blockstream own it by way of consent from some skinny feeble Chinese miners who amassed way too much power in one place. Bitcoin is even more fucked that ETH. At least ETH has a cooperating team building great shit. Bitcoin has awesome in-fighting and zero progress over about two years. |
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