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Author Topic: This is it, Eth is truly going to zero  (Read 4097 times)
r0ach (OP)
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July 05, 2016, 09:10:37 AM
 #1

https://www.reddit.com/r/ethtrader/comments/4rbff1/what_will_happen_to_exchange_trading_duringpost/

Since Eth was just a banker backed scheme to try and co-opt Bitcoin and replace it with a premined, permissioned ledger, I'd say zero is too high of a price.

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July 05, 2016, 09:20:26 AM
 #2

https://www.reddit.com/r/ethtrader/comments/4rbff1/what_will_happen_to_exchange_trading_duringpost/

Since Eth was just a banker backed scheme to try and co-opt Bitcoin and replace it with a premined, permissioned ledger, I'd say zero is too high of a price.

People already started hedging ETH with all kinds of alts, AMP is one good example.
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July 05, 2016, 09:36:32 AM
 #3

Long time investors slowly losing confidence on ETH, could be headed back to ICO price.
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July 05, 2016, 09:48:33 AM
 #4

Long time investors slowly losing confidence on ETH, could be headed back to ICO price.

I think we agree.. last while i have been thinking that.
"Long term ? since what start of 2016 LOL"
..no once cared in 2014 remember ?

I see interest waning.
This will cause the cabal of organized crime propping it up to pull their $12 wall
and then look out !
The momentum will start out slow but it will build.
Like pulling the wood blocks out from a car parked on a hill.

There is not much holding up that 1 billion dollar market cap.. except greedy profiteers.
And not many of them either (and Butterin & Friends know this)
There can't be very many users in ETH..
Bitcointalk only has an average of 2,300 user here per 24 hours.
You'd think a coin with a Billion dollar market cap would have 230,000 users here talking about.. DAPPS  Cheesy

Be careful "playing the game" people.
And don't forget "Free Market"
When you get burned you can't just call the Crypto-Cops  Grin

FUD first & ask questions later™
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July 05, 2016, 10:04:53 AM
 #5

This is horrible. It is true that holding a major stake is harmful (the attacker) during the POS phase, but it is much more harmful to the coin and ecosystem if you push for a fork with which they go against everything that cryptocurrencies truly stand for. How could anyone in their right mind be in support of coin control? You're taking decentralization, immutability and censorship resistance with 1 blow. It has started going down (deserved it though):


Long time investors slowly losing confidence on ETH, could be headed back to ICO price.
The ground is the best for ETH after this mess.

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July 05, 2016, 10:12:43 AM
 #6

as low as you can please,

ready to pile in as mining keeps getting more difficult , each day is a new hash record...
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July 05, 2016, 10:28:35 AM
 #7

You people don't understand anything. This is Vitalik's plan to take value out of the stolen ETH. It will all be worth zero, so no biggie.
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July 05, 2016, 10:37:20 AM
 #8

ready to pile in as mining keeps getting more difficult , each day is a new hash record...
I don't think you have any clue about the important values of cryptocurrencies.

You people don't understand anything. This is Vitalik's plan to take value out of the stolen ETH. It will all be worth zero, so no biggie.
No, you're the one who doesn't understand anything. This is centralized planning and destruction of immutability of such a chain. If Vitalik's plan is to take out any intrinsic value that blockchain has, then he's going towards the right direction.

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July 05, 2016, 10:49:04 AM
 #9

ready to pile in as mining keeps getting more difficult , each day is a new hash record...
I don't think you have any clue about the important values of cryptocurrencies.



time will tell which values were important , mr cluefull
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July 05, 2016, 10:57:02 AM
 #10

This is horrible. It is true that holding a major stake is harmful (the attacker) during the POS phase, but it is much more harmful to the coin and ecosystem if you push for a fork with which they go against everything that cryptocurrencies truly stand for. How could anyone in their right mind be in support of coin control? You're taking decentralization, immutability and censorship resistance with 1 blow. It has started going down (deserved it though):


Long time investors slowly losing confidence on ETH, could be headed back to ICO price.
The ground is the best for ETH after this mess.
Have to agree with you here, I was surprised when they even considered doing this it really does make a mockery of what it is all about in the crypto world.
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July 05, 2016, 10:57:38 AM
 #11

I can see a lot of bloods in the street, which correlates with my price analysis. It will soon be time to buy, give it a few week more of painful way down  Lips sealed
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July 05, 2016, 11:02:13 AM
 #12

Before Eth goes to zero (could happen), r0ach will hopefully be able to go to anything other than zero

he's been sitting at zero intellect for way too long

~CfA~

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July 05, 2016, 12:23:50 PM
 #13

You people don't understand anything. This is Vitalik's plan to take value out of the stolen ETH. It will all be worth zero, so no biggie.

That sums it up.
Total centralization and proof of authority!
Any idea what immutability and censorship resistance means? That's the whole point of an open blockchain.
The whole Ethereum situation has become ridiculous.
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July 05, 2016, 12:31:02 PM
 #14

Before Eth goes to zero (could happen), r0ach will hopefully be able to go to anything other than zero

he's been sitting at zero intellect for way too long

~CfA~

Hey now.. you only get 1 more of those LOL

He's my FUD buddy  Grin
At least when he ain't hawking Monero hahahah

I just wanted to say with a mini-rant.. (Patent Pending)
I agree with Lauda's various comments on the DAO last week(s) (he summed it up pretty good best i can tell)
Sometimes we agree & sometimes we don't and that applies to all of you Wink

$ 10.16 (-11.79 %)
I see..
http://coinmarketcap.com/currencies/ethereum/

I am not a huge fan of trying to tell people what to do with their money.
But be careful !
Trying to be a longer term investor in a coin project when surrounded by greedy profiteers
is a recipe for disaster or long term delusional bag holding  Cheesy

One day.. one day.. i swear those NameCoin's will be worth $10 each i mean it !!!111
Meanwhile, you could have made more leaving your money in a savings account at the bank  Cheesy

Looks like who ever kept pushing it back to $12 is gone.. new wall at $10 ?
Or has Butterin left the Building ? hahahha

He told you all he already cached out 25% of his "holdings" i think he said..
So the rest is probably all gravy for him.. ETH made him rich !
Kinda funny because who knew he was a MILLIONAIRE BEFORE Ethereum ?
So.. he probably would have no problem dumping on ETH hard.. AGAIN  Roll Eyes

..just chant moar cheap coinz nom nom nom

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July 05, 2016, 12:58:09 PM
 #15

This is centralized planning and destruction of immutability of such a chain


i hear this kind of point only by bitcoin hooligans and such

in this situation i'm just an observer refilled with popcorn (so please, don't call me ETH shill once again),
in my opinion the ethereum team is doing everything possible to avoid a "destruction of immutability", if you think about it they didn't fork the next day of the attack, they are open to technical suggestions and they do not lead a proposal but leave the choice to users.

the problem is that most of the people are just able to write some lame ass post on here or reddit instead of studying and proposing the right patch and so they feel cut out from the process... that is happening right now
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July 05, 2016, 01:17:58 PM
 #16

time will tell which values were important , mr cluefull
This is what happens when you're fueled by greed. Aside from potential profit, there is zero reason for someone to stay near ETH.

Have to agree with you here, I was surprised when they even considered doing this it really does make a mockery of what it is all about in the crypto world.
I don't think that the majority of the users understand the intrinsic values of the blockchain. Andreas A. has some good talks about this.

This is centralized planning and destruction of immutability of such a chain
i hear this kind of point only by bitcoin hooligans and such
in my opinion the ethereum team is doing everything possible to avoid a "destruction of immutability", if you think about it they didn't fork the next day of the attack, they are open to technical suggestions and they do not lead a proposal but leave the choice to users.
So tell me again how V.B. didn't get the exchanges to stop trading in order to avoid panic? This is not how a decentralized system should work. Regardless of when you decide to fork, if you impose coin control or blacklisting, you are going to destroy the immutability. What they plan to do is essentially a rewrite of the blockchain - ergo the chain is mutable.

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btc_zero_sum
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July 05, 2016, 01:28:49 PM
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So tell me again how V.B. didn't get the exchanges to stop trading in order to avoid panic? This is not how a decentralized system should work. Regardless of when you decide to fork, if you impose coin control or blacklisting, you are going to destroy the immutability. What they plan to do is essentially a rewrite of the blockchain - ergo the chain is mutable.

not sure if VB but for sure someone from the ETH team asked exchanges to halt deposit and withdrawals, that's reasonable if you suspect there is some fork going on (remember was in early stage of the attack, they didn't know the causes yet)

then, you can be VB or Satoshi, you can scream all over internet about stopping to mine/trade ETH but if you don't convince the majority you don't get a change: this is how decentralized system work.

destroying immutability? in this case we talk about a bug in the code with consequent theft. to mutate a chain in order to fix a bug is not destroying immutability but making it stronger looking forward to the future.

but i repeat, this is the way i see it, sitting on my beach and drinking a cocktail without any ETH in my portfolio  Grin
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July 05, 2016, 01:34:04 PM
 #18

not sure if VB but for sure someone from the ETH team asked exchanges to halt deposit and withdrawals, that's reasonable if you suspect there is some fork going on (remember was in early stage of the attack, they didn't know the causes yet)
They were well aware of what was going on at the time.

destroying immutability? in this case we talk about a bug in the code with consequent theft. to mutate a chain in order to fix a bug is not destroying immutability but making it stronger looking forward to the future.
I don't think that you understand what immutability actually means. ETH was all about "code is law" and other nonsense (that is now being thrown into a garbage can) and yet they're trying to manipulate the coin balances directly. The losses created by the bug are trivial and well deserved because fools have put a ton of money in a single DAO (remember: "don't put all your eggs in one basket").
Comparable scenarios in Bitcoin that I can think of:
Mt.Gox theft (which was also presumably based on a exploit) - The chain was not rewritten.
Sidechain bug (in the future) - Bitcoin's blockchain will not be rewritten.

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July 05, 2016, 01:45:29 PM
 #19

ETH was all about "code is law" and other nonsense (that is now being thrown into a garbage can) and yet they're trying to manipulate the coin balances directly.

if this will be the case then i totally agree with you, considering many of the team have invested themselves loads of money in this DAO it would only show that somebody interests are > than blockchain immutability

but if they only care of fixing the bug and give the users/miners the possibility to choose about the path to follow and the funds to be saved (link), then i find it reasonable and in line with a decentralized project. you cannot assume that code is 100% perfect at first release and incidents like this are needed to even understand how to make it better.

i would not compare MtGox with DAO attack, my opinion about the first one is that there was no bug, just a greedy admin
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July 05, 2016, 01:45:45 PM
 #20

Useless or not, Eth is still in beta, all of the HF whining is nonsense.

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