What's the deal with the sudden ETH drop?

[haendehochueberfall]

https://blog.ethereum.org/2016/06/28/security-alert-dos-vulnerability-in-the-soft-fork/

backpaddling on softfork. They can't even deploy that.

[Nxtblg]

might be this

http://hackingdistributed.com/2016/06/28/ethereum-soft-fork-dos-vector/

It is that. There's lots of hope riding on the soft fork (and a later hard fork) successfully going through.

[The Sceptical Chymist]

It's no surprise really.  The DAO was attacked and lost quite a lot of ETH funds.  I'm more suprised as to why the price has not fallen even more right after the attack.  But a lot of people (me included) speculate that it's the insiders of Ethereum that are trying to support and maintain the price after the big recent dump.  And they should in order to protect their whole investment in the platform.  But how long could that really last?

I mentioned a possible short opportunity coming just a while ago in this thread https://bitcointalk.org/index.php?topic=1045967.msg15394832#msg15394832

Same here, I did not expect it to rebound like it did. I figured it would go the way of other shitcoins and approach 1 sat.  But ethhas a dedicated userbase.  For now.  Or perhaps it's a whale keeping it afloat.   For now.  Looks like it's in danger though.

[bones261]

It was a nice idea: Create a network that can run DAPPS and smart contracts via a blackchain. However, it is abundantly clear that the Ethereum Foundation is just not capable of cramming this square peg into a round hole. I would recommend anyone wanting to get involved in ETH right now, use it for it's true purpose:  make a quick buck. Short this shit to the grave, so we can all move on.

[CoinCidental]

And lots of alt coins drops when btc rises. I wonder where eth will be in a few weeks...

Half the current price would be a good place to start....

[Minecache]

It was a nice idea: Create a network that can run DAPPS and smart contracts via a blackchain. However, it is abundantly clear that the Ethereum Foundation is just not capable of cramming this square peg into a round hole. I would recommend anyone wanting to get involved in ETH right now, use it for it's true purpose:  make a quick buck. Short this shit to the grave, so we can all move on.

Erm no. Did you even bother to read the article? The worst case scenario in the eth blockchain processing transactions slower than normal with empty blocks until the code is patched. Definitely a gud time to buy while the price has dropped slightly over the usual scaremongering from the ETH haters.

[bones261]

It was a nice idea: Create a network that can run DAPPS and smart contracts via a blackchain. However, it is abundantly clear that the Ethereum Foundation is just not capable of cramming this square peg into a round hole. I would recommend anyone wanting to get involved in ETH right now, use it for it's true purpose:  make a quick buck. Short this shit to the grave, so we can all move on.

Erm no. Did you even bother to read the article? The worst case scenario in the eth blockchain processing transactions slower than normal with empty blocks until the code is patched. Definitely a gud time to buy while the price has dropped slightly over the usual scaremongering from the ETH haters.

Wow, wasting electricity on invalid transactions seems like such a good option. Guess the miners don't care, as long as they get their reward. Time to milk this cow for as much as it's worth before it's slaughtered.

[Spoetnik]

A lot of gums flapping about the support from the "community"  
Only problem is there is barely any users sucking it dry for profit (a psuedo-community)

So the reality is a Billion dollar MarketCap "coin" who was caught red-handed..
on LAUNCH DAY manipulating the coin on a large scale.. is STILL doing it in 2016.

I have been watching the ETH price since the hack 12 days ago when it was just over $20 roughly.
And the super mega weird part is for some inexplicable strange reason
when ever ETH hits $12 the price goes right back up !

With all the dumping that went on today i watched it do that over & over..
And not just today either.. ever since the hack / attack.

That is an arbitrary number for seemingly no real reason.
Or is it ?

What we see is the guys who rigged the scam in 2014 crunched the numbers.
They know what they are doing as they dump & bleed it for profits..
They are avoiding doing it too much so shithead loser ICO twats crap their pants.

They are dumping it down as hard as they can while teetering on the edge
of causing investard panic.

You mETH heads are being milked and i have seen it many times here over the years.
..nothing new.

I agree with the other guy, i can't wait until we can move on from this scammy ass bullshit.
You guys get sick of hearing about Smart Contracts crowd sales and APP's Ethereum yet ?
HEY !
I got an idea.. let's make a CURRENCY  

PS:
Minecache is a FRAUD .

[mikeymg2]

A lot of gums flapping about the support from the "community"  
Only problem is there is barely any users sucking it dry for profit (a psuedo-community)

So the reality is a Billion dollar MarketCap "coin" who was caught red-handed..
on LAUNCH DAY manipulating the coin on a large scale.. is STILL doing it in 2016.

I have been watching the ETH price since the hack 12 days ago when it was just over $20 roughly.
And the super mega weird part is for some inexplicable strange reason
when ever ETH hits $12 the price goes right back up !

With all the dumping that went on today i watched it do that over & over..
And not just today either.. ever since the hack / attack.

That is an arbitrary number for seemingly no real reason.
Or is it ?

What we see is the guys who rigged the scam in 2014 crunched the numbers.
They know what they are doing as they dump & bleed it for profits..
They are avoiding doing it too much so shithead loser ICO twats crap their pants.

They are dumping it down as hard as they can while teetering on the edge
of causing investard panic.

You mETH heads are being milked and i have seen it many times here over the years.
..nothing new.

I agree with the other guy, i can't wait until we can move on from this scammy ass bullshit.
You guys get sick of hearing about Smart Contracts crowd sales and APP's Ethereum yet ?
HEY !
I got an idea.. let's make a CURRENCY  

PS:
Minecache is a FRAUD .

I was a bit snarky in my last post and I apologize for that.  I thought your response to my post was funny and I enjoyed it.

I think we disagree though about what we want out of Ethereum.  I want a versatile and stable decentralized application platform *more* than I want the line in the chart to go up and to the right.  Versatile meaning can't use some lispy language for writing smart contracts, and stable meaning has been through the wringer a couple times.  Unfortunately, the process of going through the wringer happens at the expense of people who bought into Ethereum the crypto currency (which to me is just a means to a more desirable end).  In light of this, I think a lot of investors bought in to Ethereum very early and while I think that might be both good and bad for the people behind Ethereum, the technology is open source and improving, so the technology is only benefiting from all of this.

In summary: Will the price of ETH rebound and grow to be a good investment opportunity?  I honestly don't care.  Will the resulting technology have profound value to humanity?  You bet your ass it will.

[Spoetnik]

@mikeymg2
Well ETH launched in 2014.. no one cared and many called it a scam.
Why is it 2 years after you all want DAPPS (so you say) ?

You all made them rich beyond belief.. they paid a small portion of what they are worth now in 2014.
It was fishy that the minute the ICO went off it was being bought up
by a massive whale moving tons of them in giant equal chunks.. a dead give away !

Anyway if you all wanted this concept why did no one give a shit since 2014 ?
Why is it no one cared until it get super hyped / spammed then pumped in 2016 ?
Make any sense ?

I see no NEED for an "APP's" platform ..that runs on a block-chain (that has an ICO token tacked on)
The whole concept to me sounds like guys ran out of coin cloning gimmicks
and thought hey .. i KNOW !
"Smart contracts"

Who is using them vs how many people are watching prices on Poloniex etc ? 99 to 1 ?

Mikey you *may* be the only one with that desire LOL
Me ? I am interested in Currencies ..not "schemes" integrated into block chains.

Look at the reality of it all.. 2014 until now.
Someone rich bought up the ICO later we seen hype that had to be coordinated.
..someone was writing those Coindesk stories since 2014 and hyping this place with spam + reddit  + pm's etc
That was not all accidental.
THEN we see a pump group who managed to push an ICO coin to $20 each and a billion market cap.
The altcoin users sure as hell did not do that..
because they did not get interested until AFTER the price manipulation.

Then we seen Butterin saying publicly he dumped 25% of his "holdings"
Where did he get them ?
ICO launch day ? you bet your ass LOL

Then.. they mysteriously get hacked for a sick of amount of money ? Really ? LOL
Like at what point do you guys see all this and think hmmmm ?
Those heavy ETH bags your clutching make your blind ?
It does !
You all don't care how scammy things are as long as you can ride the train from $1 to $21 and profit.
And then you get what you deserve... karma is a bitch !
..enjoy your DAPPS ahhahah