FUUUUCKKK

>what is the east coast

github.com/paritytech/parity/issues/6995

Aaaahahaahahaha

>what is an initial selloff

I don't speak autism.
Will this be a problem for major investors?

i knew this day would come

the flood begins

>what is FOMO
this shit will go back up when people realize what's going on.

YOU TOLD ME THE FLIPPENING WAS ABOUT TO HAPPEN!!!! WTF R/ETHTRADER!

PRICED IN

>"investing" into ETH
Well the funny thing is that if you really are a "major" investor, that is some company and not an individual, you’d want to use some kind of multi-sig wallet for your ETH holdings. In that case you’d just have lost access to all your ETH.

>what is FOMO
fomo is when the sheep get fleeced, exactly what's about to go down right now at the ath. it's called distribution...or did you just start trading?

>ath
it was not at the ath
pompous faggots like yourself are the ones who get "fleeced"

can someone eli5 how does the parity vulnerability affect ETH?

Buy high sell low

Lots and lots of ETH locked up irrecoverably. Worth several hundred millions of USD.
Fundamentally this shows that ETH approach to smart contracts might not be such a great idea. Price impact: Who knows.

Then there’s the immediate question of whether a hard fork will be done to recover the lost funds. If not, there’s suddenly a lot less ETH available, which theoretically drives the price up.

If a hardfork is done: Well, a lot more stuff will go down with that then went down with the DAO, I think. For example all the trades on etherdelta will be reverted? (Dunno much about ED, but I think it mostly works on-chain, doesn’t it?) Might be a pretty bad shake-up.

It inconveniences users of the parity wallet for a while by locking them out of their ETH.

PANIC

This
The floodgates have opened

I am confused about this parity exploit shit. I have ETH in my wallet at the moment - do I have to worry about anything other than a price change?

R.I.P your ETH bruh

YES! Check it NOW you may have it already taken!

how can you have eth in your wallet if your eyes are not real?

Unless you are using a parity multisig wallet you are fine

>down less than bitcoin
>panic

>just lost 5ETH

AAAAAAAAAHHHHHHHHHHHHHHHHHHHH FUCK SELL SELL SELL

Ah FUD, that I can prove. They can just unlock the funds within the next ETH planned hardfork, if Parity wont find a solution. The next update might be 6 months from now though, until which the funds will be locked.

Nothing to do with ETH smart contracts, but with Parity (a project that made a popular ETH wallet out of many). This does bode bad for cryptos as a whole though. Every crypto needs a wallet and they can have similar vulnerabilities that can be discovered at some point.

Ethereum panics are a meme. Free money every time. If Ether dies so does crypto.

>They can just unlock the funds within the next ETH planned hardfork
Fair enough.

>This does bode bad for cryptos as a whole though. Every crypto needs a wallet and they can have similar vulnerabilities that can be discovered at some point.
A wallet doesn’t have to be a smart contract.
Buggy software on PCs = ok we can roll out an update, big funds should be in cold wallets anways
Buggy smart contracts = you’re out of luck

It has been mitigated. White Hat hackers went for the wallet immediately and transferred it to a secure account. Nothing much very very bad happened so this shouldn't affect the price much.

Buy more ETH. It dropped a bit. It will rise.

theregister.co.uk/2017/07/20/us30_million_below_parity_ethereum_bug_leads_to_big_coin_heist/

>be major investor
>want to use 3rd party software to manage your funds

yeah right

That's old news.
There's a new bug and it can't be fixed without a hard-fork.

desu I hope this spurs some development of ways to optionally include "failsafes" in a decentralized way

There's no way that would ever be secure though. What if the original contract creator could just withdraw funds at any time? You would never put money into that contact.

>in a decentralized way
more like having a last line of defense where keepers unrelated to the contract can vote to save funds if the contract creator also agrees. I bet someone can work out a sufficiently decentralized model for this to work.

>July 20

Watch Monero.

we have done our best son
now we shal rise

im a newb and dont understand a single fucking word.

What happened with ether?

Ive been away from home 2 weeks , i hope my trezor is alright

SELL YOUR ETH AND TOKENS.

Bug means you can lose all your ETH. People are panic selling before their ETH is gone.

Hard fork is needed to remove bug which means that the price of ETH will drop anyway.

KEK!
Cracked me up! xD

WILL ETHEREUM-BASED CRYPTO PRICES ALSO BE AFFECTED?

Oh yeah and tokens might also be affected if it hard forks.

YES

You mean ERC20 coins? There is a chance they will not work after a hard-fork. Better to just sell until the situation is cleared. Better safe than sorry.

Yeah, things like SALT is what I mean.

haha, glad someone is pointing to a platform alternative that doesn't rely on spaghetti skelly code.

NEM is everything people want out of ETH as a platform without the constant retardation.

Yeah they might be fucked if a fork is needed. People are crazy for not selling them temporarily right now. Sell your Salt and buy something that isn't a ERC20 tokan. (Monero,bitcoin,vertcoin,ripple etc)

this sounds like a bad thing for everyone holding ETH, but a good thing for someone who wants to start investing into ETH (like me).

Do you think i should buy some ETH when it hits it low point?
When do i know its at its lowest right before it recovers?

Bitcoin Cash good? Just a fork of Bitcoin right? Kind of a newfag to this.

I don't think a Hardfork is due actually.

We're not totally sure at this moment which is a cause for panic.

tl;dr: people with multi-sig parity wallets generated after July 20th cannot move funds. No solution yet found.

>Buying a coin now without guarantee that it actually exists (if exchange uses multiple sig wallet it can sell you ETH that doesn't exist)

Literal gambling m8.

>Using java for anything other than shitty phone apps

...

By HF'ing, Ethereum would be totally fucked IMO. Unsure about ERC20 tokens in the event of a HF, but I'd say that no ERC20 project is bad because of being based on ETH-

> If Ether dies so does shitcoins
FTFY

Hardfork could fuck up ERC20 tokens. Especially older ones since it might not be compatible with the fixed version of ETH meaning they become practically worthless or all those ERC20 tokens need a hard fork as well. This will fuck up 80% of cryptocurrencies.

ETH is too big to fail. If you think otherwise you are a complete moron. Just let it drop some and buy in cheap.

and why does ETH not exist suddenly?

lmfao

A hard fork would literally just replace the killed library wallet.

kek people are mad

How many retards do you guys figure we got to sell all their ETH and tokens with this FUD?

Are you retarded?

If the exchange uses a multi-sig wallet to sell you your ETH then the ETH they sell don't exist anymore. The exchange hasn't updated their ETH but you might buy a useless ETH that doesn't actually exist anymore.

I'm not talking about ALL ETH but about the bug affected multi-sig ETH. Millions of ETH are affected user.

Oo-wee!
A buy opportunity at around $250.

I would advice not to buy at all until we get more information. This might hit more than $100 off of ethereum like that time it went to $180

We'll se, I actually got some invested in there to.

So I wouldn't mind it going up.

>We're friends now u know!

>what is catapult

>Defending a slow, insecure and shitty programming language that should've died a long time ago

>> im an eth newbie... just learning

Don't think that it will go that low. ETH has the first mover advantage in both developer community and also as a crypto platform. It is already too big to fail.
Parity fucking up again is not a problem with ETH, but normies wont understand that and will sell, ha. Scoop up time.

Then again, if Bitcoin really drops due to the Segwit2X fork mess and has a big crash (I don't think so), ETH will follow and $180 is not unreasonable.

Exciting week coming up. I am certainly glued to my computer and Blockfolio for these dramas.

gist.github.com/banteg/f61d256d12158b8c344d7889266f43b5

RIP iconomi

The last time a SMALLER bug (also with multi-sig) was found in ETH it went from $340 to $180.

What's to say It won't go even lower now?

Haha fugg
Well I was down 80% on ICN anyways

The code to fix this issue, and/or a rollback could easily be slipped into the already planned constantinopole hardfork without any issues and/or alterations of other peoples balances, nor ERC20 tokens.

>every Ethereum-based project is fucked
I'll go all fiat for a month, fuck bitcoin fork and fuck this

I just moved all my Ethereum into Ripple until this shit is sorted. Might be able to get Ethereum cheaper later anyway after the possibility of an impending fork.

It followed Bitcoins drop at that time. Parity's first multisig fuckup was not the cause.

Stuck in ETH in a coinbase transaction.

>just bought ETH last night
>seemed to be breaking up
>wake up, see it's at 290
That would explain it. Damn.

Won't stop the FUD

some exchanges use multi-sig wallets. RIP if that's the case.

FUCK I JUST SOLD ALL MY RIPPLE FOR ETH AT 3% WIN NOW I'M ALREADY DOWN 5% IS IT TOO LATE TO SELL??

Price has literally not changed on binance at all

I know I want it to fucking CRAAAAAAAAAAAASSSSSSSSHHHHHHHHHHHHHH

whats a segwit2x fork?

that makes sense.
Is electrum one of those endangered wallets?

Electrum isn't an ETH wallet you dumb fuck

What am I looking at user

Just did a quick google and Coinbase has something called a “multisig vault” but they stopped allowing people to create them since Aug 1st. I’m still waiting on the ACH transfer from my bank account so I think I should be ok... hopefully.