Fake News has potentially ruined Ether

arbitrage

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Quote from: Barcode_ on June 28, 2017, 06:05:19 AM

From this incident, it shows us how fake news could also have an influence on the price of crypto-currency, I am quite shocked to see Ethereum losing $4 billion in market value over one night from the fake news story about the death of Vitalik Buterin, the creator of Ethereum. Maybe that is one of the advantage Bitcoin have over Ethereum, as satoshi nakamoto, the creator of Bitcoin, remains a mystery to everyone until today.

Now you know why Satoshi is gone. I mean if one person or news related to this person can influence price on such scale, then this is nothing else than perfect for making money. Speculative, without real value behind. What else you can say?

Quote from: RodeoX on June 28, 2017, 11:47:52 AM

If fake news can ruin ETH, then let her die. Cheesy

I think some ETH "investors" are starting to figure out that ETH is no bitcoin.

Finally some voice of reason.

brushgee

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So ETC is decentralized version of ETH, would you move to ETC?

GreenBits

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Quote from: Thule on June 28, 2017, 04:58:20 PM

Fake news can also skyrocket it back

Amen. Coins pump on rumors and lies all of the time, that's kind of the way it works here. None of these coins have a valuation based off of reality; the prices of these assets are purely speculative.

Quote from: bitcoinbox on June 28, 2017, 06:43:13 PM

Fake news may impact a coin for a short time but the real big investors have enough tools and experience to detect those fake news.

Sometimes. Not a lot of reliable sources of breaking news in this sphere; we are dealing with money so you can't really trust advice here. Diligence is necessary, but sometimes it's damn near impossible (which used to mean 'don't invest'.)

And if you don't react, you might get left behind Sad

it's a enigma, LOL

bitcoinbox

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So far so good

Fake news may impact a coin for a short time but the real big investors have enough tools and experience to detect those fake news.

machinek20

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It is a decentralized world so news is a very important thing for investors, but usually the one that get influenced by fake news are the newbies as for the professional or more experience investors they dont directly jump to conclusion, they have their own way to check the news and source to cross check the news

Thule

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Fake news can also skyrocket it back

GreenBits

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Quote from: khufuking on June 28, 2017, 04:05:44 PM

And that is the different between decentralized and centralized coins . As much as I love ether and love the money I made from it but still coin with one man behind it >> ( decision making ) can easily get manipulated .

To be honest, the Bitcoin Foundation/core devs are the point of centralization for us. Sure, it's distributed amongst more actors, but they pretty much all reside at a central point. I'm not defending Ethereum, I actually agree with you, but I prefer ETH in this case because for once, corporate interest will ensure the longevity of a thing rather than bring it's early demise. R3, Azure; the amount of research and development funds invested in ETH and related projects will ensure it will most likely stick around.

khufuking

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And that is the different between decentralized and centralized coins . As much as I love ether and love the money I made from it but still coin with one man behind it >> ( decision making ) can easily get manipulated .

European Central Bank

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the reason it fell is because it's quite insanely inflated. you can add a reason if you want to but i certainly don't think it was fake news.

since crypto is drowning in nothing but fake news it's kinda hard to complain about it. it would be nice to get some real news every now and then.

KizaruOG

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Quote from: RodeoX on June 28, 2017, 11:47:52 AM

If fake news can ruin ETH, then let her die.

ETH started to fall before the news, what are you guys talking about?
But let it die anyway Grin

Heartilly

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Quote from: isabella01 on June 28, 2017, 04:57:22 AM

I think cryptocurrencies need a strong PR team for crisis management plans. Who knows, maybe if they had responded to the scandal in time, it would have died down and everyone would have realised that it was #Fakenews and the dude wasn't in fact died or in a car crash. But as time went by, it reached more and more people and they all freaked out and reacted the way they did. As a result, it went sliding down by 20%. Which in my opinion, is A LOT!

Is this really a big deal? Bitcoin since it's start operating already received lots of fake news and even legitimate one didn't stand a chance to crash bitcoin. Of course price crash is possible but the important thing here is, it's recoves too much.

Did those Etherium guys who hold coins didn't know that FUD's are everywhere? How weak their hands are? Welcome to the altcoin world.

AleSergio

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Ethereum is not just another altcoin on the market, which you can just throw away and forget. It will be still number 2 coin in crypto world. This scandl ofcourse has ruined some reputation, but it is just a matter of time, when it will come back on the same big positions

SvenBomvolen

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Quote from: BaumT on June 28, 2017, 10:26:02 AM

I love the fact that he proved that he is alive with blockchain hashes, though it affected his coin. I think everything originated here:http://boards.4chan.org/biz/thread/2608981

Right. But that fact that he delayed with confute his death making me doubt, was he taking a part in such kind of information and was it profitable to him to move Etherum in red?

deisik

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Quote from: isabella01 on June 28, 2017, 04:57:22 AM

I think cryptocurrencies need a strong PR team for crisis management plans. Who knows, maybe if they had responded to the scandal in time, it would have died down and everyone would have realised that it was #Fakenews and the dude wasn't in fact died or in a car crash. But as time went by, it reached more and more people and they all freaked out and reacted the way they did. As a result, it went sliding down by 20%. Which in my opinion, is A LOT!

And who is going to pay this team?

Though whoever it might be, he will just use his money to push his own agenda, obviously. In fact, we already have such teams and groups. Jihan Wu and his army of shills are likely the most glaring example of this kind. Bitcoin should evolve in a consistent and reliable way, that would work better than any PR team and their propaganda. After all, Bitcoin is not about PR (though hype and rumors certainly play an important role in respect to its price)

HTracer

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Any well-managed project in crypto should have a communication officer in team and official accounts in social media at least. It's the officer's responsibility to disprove fake news immediately.

passionsurf

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Quote from: iluvpie60 on June 28, 2017, 10:47:15 AM

Nah, it wasn't fake news that had everyone dumping their coins the other day. Almost all coins went down. Just because the founder of ETH was wrongly reported as dead wouldn't do anything to every other coin.

But we are going through a correction. Doubts in the air about ETH and doubts in the air about BTC are leading to a correction rigt now so we will see how it all shakes out this year. Lng term everything will be up by a lot don't you worry!!!

Yeah, I agree here. Ethereum is definitely not ruined, especially when the value is still $200-300, and it still has a market cap in the billions. If the coin value drops under $1, then maybe you can say Ethereum was ruined. But for now, it's still strong.

Gotottack

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Quote from: isabella01 on June 28, 2017, 04:57:22 AM

I think cryptocurrencies need a strong PR team for crisis management plans. Who knows, maybe if they had responded to the scandal in time, it would have died down and everyone would have realised that it was #Fakenews and the dude wasn't in fact died or in a car crash. But as time went by, it reached more and more people and they all freaked out and reacted the way they did. As a result, it went sliding down by 20%. Which in my opinion, is A LOT!

The death of the developer (true or not) would have not affected the prices of ethereum anyway. It was because people just realized that Ethereum developers hold shit tons of Ethereum that it is ridiculous to even be holding one now. As Vitalik and his posies hold majority of all Ethereum which means the investors of ethereum just basically handed them billions of dollars.

MOBSSTER

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Fake news or propaganda it's all works fine.

pitiflin

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This has indeed caused a lot of problems for all the crypto-currencies including bitcoin,i don't know why this has not yet been improved ,i just hope it gets better and let the owner of eth makes sure that all rumors about his death are clearly stated false. And finally , let the crypto-currencies not get destroyed because of this falsely accused rumors and may people not freak out so easily when they hear such rumors.

RodeoX

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The revolution will be monetized!

If fake news can ruin ETH, then let her die. Cheesy

I think some ETH "investors" are starting to figure out that ETH is no bitcoin.

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