DAO being dissolved - what do you think people will do with all that ETH

[RastMan]

For all I know, im still trying to understand how in the hell is ETH and DAO going up while BTC is going down. This makes absolutely 0 sense no matter how you look at it.

BTC is currently undergoing a repeated hack on bitfinex. Hardly surprising people are dumping it.

No worries. I think that is just a temporary sell off the bitcoin. Its price will rise again. Bitcoin has a big community support.

[1715057745]

1715057745

[1715057745]

1715057745

[1715057745]

1715057745

[1715057745]

1715057745

[sildyas]

For all I know, im still trying to understand how in the hell is ETH and DAO going up while BTC is going down. This makes absolutely 0 sense no matter how you look at it.

BTC is currently undergoing a repeated hack on bitfinex. Hardly surprising people are dumping it.

No worries. I think that is just a temporary sell off the bitcoin. Its price will rise again. Bitcoin has a big community support.

The bitcoin price is also dropping at the moment. The Ethereum is dropping with it. So might something wrong with both coins.

[dwgscale11]

After reading more and more about eth, I cant help but think they are going in the complete opposite direction.  Forking?  What has this community come to.

How on earth does this coin have such an absurd market cap? Mind boggling...

[TheRedDevil]

Be it Hard Fork or Soft Fork, things have been a mess with DAO and ETH. I really dont think ETH will recover soon if at all it does. But fingers crossed for the future as ETH seemed really promising.

[vlom]

How long will it be until everyone can withdraw their eth? I don't know for sure what will happen, but if everyone can withdraw at the same time there could be a dump as the hack is a disturbing event in the eth ecosystem.

If the DAO is dissolved, lots of Etheruem will flood the market, so the Ethereum price will drop a lot as a result.

I fully agree, not sure why people don't see this.

Maybe the miners should opt for the soft fork, but not the hard fork to lock the 3.6 million eth forever and reduce the supply.

I am not sure about that. Is that morally right? You confiscate the stolen goods but do not return to the owner.

there was nothing stolen. there was somebody who read the contract and used it to do things that are possible.

[The Sceptical Chymist]

Shit's being dumped on the market like a piggy bank in a poor b---- b--'s hand.  That's why the price is in the shitter and it truly baffles me that it isn't approaching zero more rapidly.

[bbc.reporter]

So Stephen Tual confirmed The DAO is getting turned into a withdraw only contract. What do you think people will do when they finally get their ETH from the DAO? Hodl? I don't think so.

I don't think any serious investor outside their core group of insiders will take a look at Ethereum after the attack. The Ethereum Foundation will make it a point to create a marketing campaign to convince the public that everything is fine. Maybe it might work.

[helloeverybody]

Shit's being dumped on the market like a piggy bank in a poor b---- b--'s hand.  That's why the price is in the shitter and it truly baffles me that it isn't approaching zero more rapidly.

Its getting closer though. I still maintain that they should have just abandoned the dao all together. It would be really bad for everyone who invested in the dao but at least it would have saved ethereum. By forking to release the funds which people are going to dump back into ether all your doing is taking down eth with the dao. Eth could have been saved with my method, instead they both go down the drain.

[onemd]

Shit's being dumped on the market like a piggy bank in a poor b---- b--'s hand.  That's why the price is in the shitter and it truly baffles me that it isn't approaching zero more rapidly.

Its getting closer though. I still maintain that they should have just abandoned the dao all together. It would be really bad for everyone who invested in the dao but at least it would have saved ethereum. By forking to release the funds which people are going to dump back into ether all your doing is taking down eth with the dao. Eth could have been saved with my method, instead they both go down the drain.

I have no DAO at all. If the DAO is caught by punished by the law and return the stolen coins, there is no need for the forks.

[GreenBits]

So Stephen Tual confirmed The DAO is getting turned into a withdraw only contract. What do you think people will do when they finally get their ETH from the DAO? Hodl? I don't think so.

I don't think any serious investor outside their core group of insiders will take a look at Ethereum after the attack. The Ethereum Foundation will make it a point to create a marketing campaign to convince the public that everything is fine. Maybe it might work.

There isn't enough public relations in all of the World to mend this wound. I imagine they will attempt to rebrand a bit, or at least reassure folks the asset is now 'safe', but it's a bit too late for that now as this debacle has been going on for damn near a month, slow motion car crash style. This was too protracted in the public eye, and got way more attention than it should have due to the record breaking size of the crowdsale. But, crypto memories are short; it will pop back up in a few years with a slightly different message and dev team, and we will be discussing this again

[GreenBits]

Shit's being dumped on the market like a piggy bank in a poor b---- b--'s hand.  That's why the price is in the shitter and it truly baffles me that it isn't approaching zero more rapidly.

Its getting closer though. I still maintain that they should have just abandoned the dao all together. It would be really bad for everyone who invested in the dao but at least it would have saved ethereum. By forking to release the funds which people are going to dump back into ether all your doing is taking down eth with the dao. Eth could have been saved with my method, instead they both go down the drain.

As I said in another post, black magic is responsible for keeping the price propped up  but seriously, I'm thinking someone is spending a grip to keep the price as elevated as possible, so they don't go into 'the dump' with sub 10 prices already on the table. Because we can all agree that before it goes up, this ship is going down, and quickly. Like others. I just don't understand why this isn't sub 7 right now. People have panicked much more for much less deal.

[RastMan]

Shit's being dumped on the market like a piggy bank in a poor b---- b--'s hand.  That's why the price is in the shitter and it truly baffles me that it isn't approaching zero more rapidly.

Its getting closer though. I still maintain that they should have just abandoned the dao all together. It would be really bad for everyone who invested in the dao but at least it would have saved ethereum. By forking to release the funds which people are going to dump back into ether all your doing is taking down eth with the dao. Eth could have been saved with my method, instead they both go down the drain.

As I said in another post, black magic is responsible for keeping the price propped up  but seriously, I'm thinking someone is spending a grip to keep the price as elevated as possible, so they don't go into 'the dump' with sub 10 prices already on the table. Because we can all agree that before it goes up, this ship is going down, and quickly. Like others. I just don't understand why this isn't sub 7 right now. People have panicked much more for much less deal.

It seems you are right. The price is still above $9 for the last few weeks. There is a small rise today.

[ashkanb]

As I said in another post, black magic is responsible for keeping the price propped up  but seriously, I'm thinking someone is spending a grip to keep the price as elevated as possible, so they don't go into 'the dump' with sub 10 prices already on the table. Because we can all agree that before it goes up, this ship is going down, and quickly. Like others. I just don't understand why this isn't sub 7 right now. People have panicked much more for much less deal.

It seems you are right. The price is still above $9 for the last few weeks. There is a small rise today.

actually on polo i didn't see the 24h price close below $10; isn't it probable that the black magic here is way less magical & is just corporate funds;
i mean a few $100mils is kind of pocket money for many corps!
imo one way or the other sub $7 dip is almost certain! just waiting for it to happen already!

[klbax381]

An attacker contract c0ee9db1a9e07ca63e4ff0d5fb6f86bf68d47b89, f835a0247b0063c04ef22006ebe57c5f11977cc4  has been hacked today and all DarkDaoTokens transferred out from his balance to contracts 2c0b1dd183cad9b54ba87707e8e49d3c31ee06c1  3e0210c2bdb8c9574385045cfea91d733951efb9  and 0f2a2ecf5ae4ff17f5314bf35b675d9c322385b4
https://s31.postimg.org/9t1mw9ts9/zzz.png
now attacker balances is zero. he is not Tokenholder anymore. and he cant do many things because of modifier onlyTokenholders.
This attack has been started in this txn 0xa91c15883f9edb2a1aa9fd925af83119a9fe9aedb86454f82cdf479321c9398e
origin - 0xbe3ae5cb97c253dda67181c6e34e43f5c275e08b
counter-attack contract - 0x03e3d4561a8f8e975fdcd798d32857a20cf25e7e