DAO/ Ethereum hacked - bitcoin price?

[Foxpup]

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.

It's only until he rolls back the chain, then it'll be us bitcoin holders' turn to start panicking.

[1714909553]

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[glerant]

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?

Why do all the OP starting new threads on the DAO exploit mention Ethereum? - there are no exploits or attacks ongoing with Etherium.

[clickerz]

'This ETh - Dao news is big today even on  exchange trollbox. What really happened? Hope they will fully recover after this "attack"? While bitcoin is fast rising, here we are monitoring this coins. Hope will not result into too much loses.

[Foxpup]

Why do all the OP starting new threads on the DAO exploit mention Ethereum? - there are no exploits or attacks ongoing with Etherium.

Because there are rumours that it will be "fixed" by rolling back Ethereum's blockchain, which would be Very Bad.

[btcxyzzz]

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 :

Diagnosis: Litecoin bagholder.

[CoinCidental]

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 will soon be in bitcoin

FFTY

[CoinCidental]

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?

Why do all the OP starting new threads on the DAO exploit mention Ethereum? - there are no exploits or attacks ongoing with Etherium.

u should probably check the news ...........eth/dao took a beating aboput 2hrs ago worth about 50 mil usd

[glerant]

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?

Why do all the OP starting new threads on the DAO exploit mention Ethereum? - there are no exploits or attacks ongoing with Etherium.

u should probably check the news ...........eth/dao took a beating aboput 2hrs ago worth about 50 mil usd

I have checked the news and I understand that as Eths biggest smart contract DAO is dragging on price of ETH. However when starting new threads on DAO hack it is disingenuous to talk of an Eth hack.

Not that I have any ETH - but an ETH catastrophe would set the ALTs back years - even if it is caused by market sentiment due to the DAO issue and not any inherent problem with Eth itself.

[CoinCidental]

they maybe able to hard fork so the hacker can not spend the funds ive just read ..........
maybe all hope is not lost yet .......but still a nervous time for DAO/ETH users all the same...
some threads on reddit say the DAO is still being drained ...........

[Reallist]

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/

Gulden is the only real project I see but in crypto it's only scams and ponzi schemes that get pushed. This is why the central bank fiat system will still win even with it's flaws because the people pushing these alt scams are worse then the central banksters.

Anyways if Gulden ends up failing I will just keep the btc I have and rather invest in physical Gold and Silver.

[CoinCidental]

more details : http://www.financemagnates.com/cryptocurrency/trading/the-dao-falls-victim-to-cyber-attack-leading-ethereum-to-crash-over-20/

[gravitate]

looks like DAO is going to simply open for withdrawals thats it. Or is that just fud?

[Lauda]

It's only until he rolls back the chain, then it'll be us bitcoin holders' turn to start panicking.

No. As soon as they do something like that, it proves that the statement of this coin being beyond the influence of 'governments' and whatnot was a lie.

looks like DAO is going to simply open for withdrawals thats it. Or is that just fud?

If by simply you mean doing a change that is the equivalent to coin control (which is frowned upon) in a decentralized system (which isn't decentralized anymore), then yes.

[alyssa85]

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?

It won't help the bitcoin price. Bitcoin needs other coins to remain high and then sold into bitcoin. Also, any mention of hacking puts off members of the general public off all cryptos.

[gustav]

btc UP because money does need to go somewhere when the air is being let out from ETH

[stoat]

It's only until he rolls back the chain, then it'll be us bitcoin holders' turn to start panicking.

No. As soon as they do something like that, it proves that the statement of this coin being beyond the influence of 'governments' and whatnot was a lie.

looks like DAO is going to simply open for withdrawals thats it. Or is that just fud?

If by simply you mean doing a change that is the equivalent to coin control (which is frowned upon) in a decentralized system (which isn't decentralized anymore), then yes.

Remember when bitcoin hard forked multiple times because someone created 9 billion bitcoins?  Oh you don't? That's because you're a pesky noob

[scv00]

btc UP because money does need to go somewhere when the air is being let out from ETH

There are high volume btc/eth markets that have been see sawing the price of both coins. If eth goes down bitcoin often goes up because of those markets. If eth hard forks those eth locked in the DAO will get released around about the bitcoin block halving date. If they get dumped for bitcoin it could pump bitcoin much higher.

[Lauda]

Remember when bitcoin hard forked multiple times because someone created 9 billion bitcoins?  Oh you don't?

False analogy. Stop defending altcoin which don't deserve defending. In this specific hack, no additional coins were created (which was the case with Bitcoin), neither were the specifications altered. Read:

That's because you're a pesky noob

Resorting to ad hominem when you don't have proper arguments?

[GreenBits]

btc UP because money does need to go somewhere when the air is being let out from ETH

There are high volume btc/eth markets that have been see sawing the price of both coins. If eth goes down bitcoin often goes up because of those markets. If eth hard forks those eth locked in the DAO will get released around about the bitcoin block halving date. If they get dumped for bitcoin it could pump bitcoin much higher.

Methinks people that saw a safe haven in eth and it's dao tokens, may want to rethink that strategy ATM. Btc is king of the roost for the moment, eth just blew it for a while with this.

Remember when bitcoin hard forked multiple times because someone created 9 billion bitcoins?  Oh you don't?

False analogy. Stop defending altcoin which don't deserve defending. In this specific hack, no additional coins were created (which was the case with Bitcoin), neither were the specifications altered. Read:

Amen. This is directed governance. To hell with a distributed, anonymous version of this.

[BillyBobZorton]

BTC is 7 years old, decentralized and never had a rollback because of stolen coins, never had satoshi acting like a dictator frozing funds on an exchange to avoid panic selling.

ETH is fucked beyond salvation, only 1 year after.