[2016-06-17] Tumultuous Week Fuels 30% Gain in Bitcoin and Ether Prices

[x13]

Tumultuous Week Fuels 30% Gain in Bitcoin and Ether Prices

Bitcoin and ether both surged this week, the former hitting a 28-month high and the latter surpassing $20 for the first time. The combined rally of these two digital currencies from 10th June to 17th June helped shed further light on their relationship, a matter that has frequently drawn the attention of market analysts.

http://www.coindesk.com/bitcoin-ether-weekly-gains/

[aso118]

Tumultuous Week Fuels 30% Gain in Bitcoin and Ether Prices

Bitcoin and ether both surged this week, the former hitting a 28-month high and the latter surpassing $20 for the first time. The combined rally of these two digital currencies from 10th June to 17th June helped shed further light on their relationship, a matter that has frequently drawn the attention of market analysts.

http://www.coindesk.com/bitcoin-ether-weekly-gains/

What is interesting is what happened after 17th June.
The DAO hack and its aftermath ensured that all the correlation calculations went out of the window.

[Ultrabat]

Tumultuous Week Fuels 30% Gain in Bitcoin and Ether Prices

Bitcoin and ether both surged this week, the former hitting a 28-month high and the latter surpassing $20 for the first time. The combined rally of these two digital currencies from 10th June to 17th June helped shed further light on their relationship, a matter that has frequently drawn the attention of market analysts.

http://www.coindesk.com/bitcoin-ether-weekly-gains/

What is interesting is what happened after 17th June.
The DAO hack and its aftermath ensured that all the correlation calculations went out of the window.

If the crisis of the Ethereum is solved properly, I think the Etheruem price will rise a lot, maybe even faster than bitcoin.

[TraderTimm]

ETH, having cratered from 21.48 to 10.10 (Kraken) is a rather large move. (-52.9% decrease) It also speaks to the larger ethical dilemma that the ETH devs are making right now. ETH is technically non-fungible, as they've decided to "lock out" the attackers coins. Even though their creed was "the code is the contract", they've taken the extraordinary steps of punishing someone who took their creed at their word -- that a contract would be enforceable on the network.

So, because a "bad" guy figured out that a contract would allow multiple allocations to a child-DAO, the devs are scrambling to invalidate his coins and effectively attempt to roll-back the entire history of what happened. This is fraught with peril, because it changes the agreement between the user and the maker of the token. The new rule is -- if they determine you don't deserve your money, they'll take it from you.

Who in the living fuck would trust anything on that system ever again.

I sure wouldn't.