The soft fork has failed. Second crash imminent. Is this the

beginning of the DIP

>>1344855
Buy the dip tho

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Yikes. They're starting to get desperate. This is not going to end well.

>>1344898
If they hard fork, there's going to be a huge dump. Shorting now in anticipation.

>>1344855
i knew eth will fail the first time i heard about the concept

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>>1344908

What was the concept?

I have an iq of 155 according to various respectable online sources and I still have no fucking idea what exactly the DAO did was supposed to be doing.

Thankfully I was smart enough to stay out of shit I don't understand unlike all the retards who fell for it.

Even if they hadn't done all this shit to try to get the dao coins back, it still would've been possible. So if the devs can at any time decide to just do whatever, what even is the point of a decentralized currency?

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don't be afraid.
he will guide you through it all.
he will make you rich beyond your wildest dreams
he has been sent here for a reason

>>1344958
cool story smartypants wagecuck
then why didn't you short
btw shorted just before the dip

>>1345255
This. Vitalik is the son of Satoshi. He was sent by the crypto gods to save humanity from the financial establishment.

>>1345255
Still holding :)
Till $1000 :D

>>1344958
>What was the concept?
it was the whole turing complete evm that tipped me off they are retarded. also the site is just a bunch of bullshit for laymen it smacks you in the face when you visit.

>>1346376
Would you care to elaborate?

>>1346427
Just look up the halting problem on wikipedia.
Tldr for any non trivial program in a turing complete language it is impossible to fully predict its behaviour.

I think you can figure out why sending millions into a trustless complex program is idiocy yourself.

>>1346449
FYI

https://www.quora.com/How-can-the-Halting-Problem-be-explained-to-a-layman

>>1346449
>Just look up the halting problem on wikipedia.
Not this shit again.
>Tldr for any non trivial program in a turing complete language it is impossible to fully predict its behaviour.
That's not what it means, it is definitely provable for a large class of programs if/under what conditions they will halt. It's just that there's no single, general algorithm that will do this for every program.
Besides, programs on the ethereum blockchain need gas to run, so if they run out of gas and stall that's your own problem and you're a shit programmer.

>>1346498
Please name this class of programs and how this set overlaps with the fantastic financial smart contracts that ethereum would bring into the world.

Besides the halting problem shows that even a seemingly trivial problem (does this program stop at some point in time or not) is undecidable. We can infer that bigger issues (such as provable security) are going to be undecidable as well...

This is the reason programming languages exist that are made simpler and decidable ON PURPOSE. So you can PROOF it has certain security properties. You can never PROOF thus for Ether except for trivial programs FOR WHICH YOU DIDNT NEED ETH IN THE FIRST PLACE.

>>1344958
The idea was that you invest your ethers in a big coded pot, that allowed all contributors to vote on what the money is used for...

people then suggest what to do with the money, the community votes (again, all coded) on what to do with the money.. The returns on the investment are funnelled back to the investors.


The problem was the coded pot (called the DAO) allowed you to make little -sub- pots inside it under your control. and the hacker moved millions into his own 'sub-pot'.

The big pot and all sub pots don't allow withdraws out of the pot for 30 days, and so we had a 30 day grace period to figure out what the fuck to do.

>>1344958
>>1346631

The big problems with it were A) it was shittily coded.

B) It was coded/created by the same people that were to be its first big 'investment'.

The idea that it was 'uncontrollable' and basically free code that would run regardless of laws or any sort of central control blew up in their faces because now they can't just 'patch' any errors in the code. (especially ones that allowed people to make the sub-pot DAOs).

They can however turn the clock back on the underlying 'engine' (ethereum) that this whole platform is running on.

>>1346543
>This is the reason programming languages exist that are made simpler and decidable ON PURPOSE. So you can PROOF it has certain security properties. You can never PROOF thus for Ether except for trivial programs FOR WHICH YOU DIDNT NEED ETH IN THE FIRST PLACE.
Yea, this is the point of ethereum.
>Please name this class of programs and how this set overlaps with the fantastic financial smart contracts that ethereum would bring into the world.
Basically any human-created program that works as intended. I really don't get why you guys keep bringing up the halting problem. It's like new-agers using gödel's incompleteness theorem to justify whatever bs.

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>>1344855
judging from his picture you'd think he would be more principled

>>1344958
>according to various respectable online sources

pfhahahaha how naive can kids be nowadays.
what your horoscope from respectable online sources said today you fucking retard?
b-but muh facebook personality test told me I am special.

>>1344958
retard

REBOOT this bitch. Fuck the Nocoiner and BTC shills screaming HF compromises our libtard principles. Get the ETH..dump that shit. BUY the motherfucking dip from hell and sit back and make bank watching ETherium retake its rightful place as the blockchain dap platform that dreams are made of.

>>1344958
If you cannot understand The DAO, your IQ is below 100.

>>1344958
>no fucking idea what exactly the DAO did was

It was a mutual fund with an elected manager. I have no idea why you would want to pool your money with ethards but that was the idea.

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Anyone care to humor & inform me?

So is Ethereum's innovations upon the blockchain really something seriously *nextlevel*? Worth speculating on?

Secondly, I saw some articles that Bitcoin was trying to incorporate the smart contract aspect of Ethereum, but read mixed responses and didn't know what to think of it.

tldr: Should I be looking to buy the dip hard on ETH? Also, does ETH's functionality have any real competition?

>>1348237
>Worth speculating on?
YES, but you're probably too late.

I put ~$30 worth of bitcoin into Ethereum during the presale and made bank. Same thing with Mastercoin back in the day: bought in at .01 BTC, sold at ~.2 BTC.

With these ambitious trash coins it's worth it to have a bit of exposure just on the off chance they are wildly successful.

Personally I'm looking to buy Ether when the price is under $7 or so.

>Also, does ETH's functionality have any real competition?

Counterparty has been teasing Ethereum-like functionality for a while now, but it's a trash coin with a limited future. IBLT will make the coin worthless.

>>1348237
Buy ethereum
Great dev team
no noteworthy competition to speak of
And actually usefull
The dao "hack" was just that: a "hack" of the dao, a smart contract that was poorly designed, not an actual hack of ethereum
Billion dollar market cap and millions in trading volume

>>1348259
>>1348257
Thanks for the input, I'm still trying to catch up on what's going on with Eth here but if I'm lucky to see more drama or another significant dip I will look into buying.

>>1348237
>So is Ethereum's innovations upon the blockchain really something seriously *nextlevel*?
it solves a problem nobody needed to be solved.
our life will not be affected by anything eth can do or not do on it's own.

once you plug in outside sources of information (so it can actually do something worth wile) you reintroduce centralization and trust into a decentralized trust-less ecosystem.

>>1348265
Wait until july the 12th. There will be a dip as dao holders get their eth back

>>1349163
start shorting boys

>>1349163
Will be more than a dip m8

Holy fucking shit kraken is slow as fuck at making USD deposits. Does poloniex allow you to buy ETH with USD? Is their deposit system slow too?

>>1349163

I have 250 DAO on my Kraken account. What do?

>>1344958
>I have an iq of 155
>probably owns less than 21 BTC
Flush yourself.

Shit I have like 5eth coins I wait for dip to go down some more and get few more eth

>>1349163
Source ? I have seen 14th of july on the Internet.

July will be crazy crypto month.
Btc halving
Ether mass cashout
Nxt 2.0 snapshot