Price is dropping on etherdelta is it about to crash completely?
I'm hoping not, I bought some at .0023 ETH so I'm hoping it can at least pump up again. The main problem is that the mistake that lets the creator make more coins at will is something that seriously needs to be fixed. It's problematic because the contract cant be changed, and it's hard to prove you've destroyed a private key. The creator hasn't made any more coins, and claims that he never will, but it still requires trust which defeats the purpose of a crypto.
Is the mistake not already fixed? Do you buy more eBTC if the price go down?
The reason that it is a big problem is that it can't be fixed. The smart contract can't be changed once it is deployed. The best options are so somehow prove that the key can't be accessed by anyone (not sure how to prove this) or to take a snapshot of the blockchain and create a new coin to replace it by giving everyone an equal amount on a new coin without that error. I suppose they could also set up a new coin then let people exchange 1-1. Either way there's no simple fix and that has me really worried about eBTC. I could have sold my share at a good profit but I held on because I thought it seemed interesting but this is making me consider getting out now. It's also problematic that there is no whitepaper yet, and there isn't much info about the dev.
To fix the problem, the Dev could do a coin swap at Mercatox Exchange. Do a 1 to 1 swap.
Everyone with coins could send their coins to this exchange and a swap could be done at a particular time.
When the swap is done, everything will be back to normal.
Problem solved.
This is just master piece.
I believe the real Bitcoin creator will have to agree too.
To all, the EBTC does not have to a coin swap on the exchange, think about Sedgewit 2.0 and BitCoin Cash, did they do the coinswap on an exchange? the answer is "NO"
Here's another example... Did Vitalik Buterain do ETH coinswap on exchanges when ETH was taken hostage and force to have ETC and ETH? The answer again is "NO", swap can be done without the cryptoexchanges being involved.
Look at VibeHub, the recently did a swap from VIBEX coin used for their ICO to the VIBE coin and it was not done an exchange.
Where do you people get such ideas crazy ideas? If that is the case, expect a totally new ETH coin from Vitalik Buterain when Metropolis comes out?
Here's the thing, the creator of EBTC did confirm the bug, he/she now has a core team of dedicated developers and the community is growing, this means better code because of QA. Once they fix the bug, they will release the fix, whether its in the form of coinswap or added functions to effectively supersede the bug and prevent from being taken advantage of.
Understand that bugs and forks are the natural progression of cryptos.