Analysis

[kobilica]

So are you saying it's not right people got their money back?

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[marcus_of_augustus]

So are you saying it's not right people got their money back?

first off it's not really money, just a gas token for the ethereum VM to operate (by eth devs own insisting) and the tokens belong to the terms of the smart contract not any legal person(s) ... the terms got changed such that different terms can be enforced by diverting hashpower ... I'm just waiting to see if they'll hardfork for the next catastrophic DAO bug attack which is only days away now, if they hacker is in it for the lulz as much as i'm imagining

[sandiman]

So are you saying it's not right people got their money back?

first off it's not really money, just a gas token for the ethereum VM to operate (by eth devs own insisting) and the tokens belong to the terms of the smart contract not any legal person(s) ... the terms got changed such that different terms can be enforced by diverting hashpower ... I'm just waiting to see if they'll hardfork for the next catastrophic DAO bug attack which is only days away now, if they hacker is in it for the lulz as much as i'm imagining

That's what happen when you shit on your objectivity bias you and all your friend developer investing in your other friend's project on the same network ....

[masterluc]

bailout coin ftw!

ROFL  

I expect incoming news headlines like: "Those blockchain coins claim irreversibility and free of censorship and now what?".

ETH did shot not only in their leg, but in Bitcoin leg too.

[Rampion]

Genesis block, Bitcoin: The Times 03/Jan/2009 Chancellor on brink of second bailout for banks

Block 1920000, Ethereum: Financial Times 20/Jul/2016 Ethereum bailout complete.

 

[Rampion]

bailout coin ftw!

ETH did shot not only in their leg, but in Bitcoin leg too.

Yes and no. It is true that regulators *might* try to force BTC devs to hard fork pointing out the ETH precedent. But still they won't succeed because it is very clear for the BTC ecosystem what are BTC's promises:

• fungibility
• censorship resistance
• permissionless innovation
• decentralization
• no third-party can touch your money if you keep control of your private keys

The BTC hard fork pushed by the regulators wouldn't be adopted because these promises are clear for the vast majority of the ecosystem - especially now that those who don't understand these promises already failed with the Bitcoin Classic shitcoin and their stupid big blocks crusade.

Ethereum its always been a mess. Devs in general and Vitalik specifically keep saying ether its not money, he says it is just "a token to pay for computing cycles" - which is absurd because a token used to pay for something is actually money. Furthermore, they obviously use it as money because the ethereum foundation funds their operations with it and everybody is speculating with it. The "its not money" thing is just a way to a) try to confuse regulators (which will NOT be confused) and b) be able to change the supply whenever Vitalik wants - in this way he is able to decide when he should "print" more ethereum, when he should stop, etc... Because its not money, you know?

I own thousands of ethers, but still I'm glad they are fucking up - I saw this coming from day one.

[keystroke]

Genesis block, Bitcoin: The Times 03/Jan/2009 Chancellor on brink of second bailout for banks

Block 1920000, Ethereum: Financial Times 20/Jul/2016 Ethereum bailout complete.

 

So when does ETH go to $0?

[Rampion]

Genesis block, Bitcoin: The Times 03/Jan/2009 Chancellor on brink of second bailout for banks

Block 1920000, Ethereum: Financial Times 20/Jul/2016 Ethereum bailout complete.

 

So when does ETH go to $0?

I don't believe it will go to $0 (but I sold most of mine bought during the crowdsale way before the DAO, during the ramp up from 0.016 to 0.032 - I did a nice 3529% profit in BTC :DD).

Anyhow I'm keeping all my remaining ETHC for the long run, and probably I will sell all my ETH during the next rally. I strongly believe that in the long term (but not short or even mid term) Etherclassic will be much more valuable than ETH - fundamentals are just stronger, even if in general it's not clear what problem is Ethereum trying to solve.

[ImI]

With the Ethereum hardfork we welcome the first official censorship applied to the 2nd biggest blockchain :facepalm:

In open-source there is no such thing as "official".

[masterluc]

Try to explain that to journalists

[silverfuture]

Try to explain that to journalists

Explanations can be lengthy. Ain't nobody got time for dat! 

[AB de Royse777]

bailout coin ftw!

ETH did shot not only in their leg, but in Bitcoin leg too.

Yes and no. It's true that regulators *might* try to force BTC devs to hard fork pointing out the ETH precedent. But still they won't succeed because it's very clear for the BTC ecosystem what are BTC's promises:

• fungibility
• censorship resistance
• permissionless innovation
• decentralization
• no third-party can touch your money if you keep control of your private keys

The BTC hard fork pushed by the regulators wouldn't be adopted because these promises are clear for the vast majority of the ecosystem - especially now that those who don't understand these promises already failed with the Bitcoin Classic shitcoin and their stupid big blocks crusade.

Ethereum its always been a mess. Devs in general and Vitalik specifically keep saying ether its not money, it is just "a token to pay for computing cycles" - which is absurd because a token used to pay for something is money. Furthermore, they obviously use it as money because the ethereum foundation funds their operations with it and everybody is speculation with it. The "its not money" thing is just a way to a) try to confuse regulators (which will NOT be confused) and b) be able to change the supply whenever Vitalik wants - in this way he is able to decide when he should "print" more ethereum, when he should stop, etc... Because its not money, you know?

I own thousands of ethers, but still I'm glad they are fucking up - I saw this coming from day one.

  Totally agree.ETH and Bitcoin is impossible to compare!

[MingLee]

bailout coin ftw!

ETH did shot not only in their leg, but in Bitcoin leg too.

Yes and no. It's true that regulators *might* try to force BTC devs to hard fork pointing out the ETH precedent. But still they won't succeed because it's very clear for the BTC ecosystem what are BTC's promises:

• fungibility
• censorship resistance
• permissionless innovation
• decentralization
• no third-party can touch your money if you keep control of your private keys

The BTC hard fork pushed by the regulators wouldn't be adopted because these promises are clear for the vast majority of the ecosystem - especially now that those who don't understand these promises already failed with the Bitcoin Classic shitcoin and their stupid big blocks crusade.

Ethereum its always been a mess. Devs in general and Vitalik specifically keep saying ether its not money, it is just "a token to pay for computing cycles" - which is absurd because a token used to pay for something is money. Furthermore, they obviously use it as money because the ethereum foundation funds their operations with it and everybody is speculation with it. The "its not money" thing is just a way to a) try to confuse regulators (which will NOT be confused) and b) be able to change the supply whenever Vitalik wants - in this way he is able to decide when he should "print" more ethereum, when he should stop, etc... Because its not money, you know?

I own thousands of ethers, but still I'm glad they are fucking up - I saw this coming from day one.

  Totally agree.ETH and Bitcoin is impossible to compare!

There are some characteristics that you can compare the two cryptos with, but overall Bitcoin exists as the first crypto and holds a lot of it's value due to that and the implications from it being the first, while Ethereum tries to make itself stand out via smart contracts and favoring the demographics most interested in cryptocurrencies, being coders and various other IT professions.

[ImI]

Try to explain that to journalists

If i would care what journalists think i would have gotten rid of all my BTC a dozen times. Public opinion is no indicator of what is right or wrong.

If such a bailout means the end of crypto then crypto was doomed from the beginning all along cause its possible with ANY cryptocurrency given a community that decides to do so and if you wait long enough it happens to every other crypto.

[birr]

favoring the demographics most interested in cryptocurrencies, being coders and various other IT professions.

A fad for geeks does not an investmemt make.
Could you come up with something stronger to recommemd it?

[Fatman3001]

All this shows is that Ethereum is no Bitcoin killer. It's a different animal. It has different metrics.

[illyiller]

bailout coin ftw!

ROFL  

I expect incoming news headlines like: "Those blockchain coins claim irreversibility and free of censorship and now what?".

ETH did shot not only in their leg, but in Bitcoin leg too.

I've been afraid this might be the case. Really quite pathetic, how the fork was pushed also. Clients set to fork by default, enforcing fork based on a minority miner vote (20%), and a split vote at that. One of the pools even ignored the majority of its miners and followed the fork.

I agree that it reflects badly on cryptocurrency overall. Do you think this will have any major effect on bitcoin's charts? Would it change your mid term analysis?

[lebing]

The last page of this thread reminds me of what Zerohedge looked like when discussing bitcoin a few years ago. 

[masterluc]

This is in progress. 420-500 is the target imo.

The bearish picture remains the same with target 450 through a bear flag and enormous support at 420. Daily bands coiling, bold move expected soon.

I even don't beleive ))

[jehst]

Looks bearish.