Topic: Fake News has potentially ruined Ether - page 2. (Read 1116 times)
i think that's not really the reason why ETH price dropdown, this is just an another bad day for cryptocoin, almost every coin now in red, everyone dumping the coin maybe because panic sell, but IMO this is just another life circulation...
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!!!
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!!!
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.
I can say that is just a speculation and it was profitable to someone to post such information. Probably the target was exactly to fall the market of ETH and to buy coins cheaper incognito. That shows us how ETH is not strong.
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
I dont think that this fake news were the impact on the ETH market decline, actually it is the whales who wanted the price to go down so that they can buy back in low and they have first sold it in a single spoof and then when market reacted on that and sold more down and then on the lower bottom all whales started to buy and now they are making news that it was a fake news and the price is going down. That is why ETH is known as the main scam coin which always create problem in the market
Looks more like the correction of an already overbought market to me, to be honest... either way kinda worrying that Vitalik could be seen as a single point of failure in the case of Ethereum.
This is a good point. Having the health of Vitalik linked to the price of Ethereum defeats the whole point of a decentralized system. I guess the same can be said about Charlie Lee and Litecoin. Credit has to go to Satoshi Nakamoto for hiding his/her/their identity/identities.
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.
I can say that is just a speculation and it was profitable to someone to post such information. Probably the target was exactly to fall the market of ETH and to buy coins cheaper incognito. That shows us how ETH is not strong.
ahahahah proof-of-life VItalik http://www.coindesk.com/proof-life-vitalik-buterin-uses-ethereum-blockchain-disprove-death-hoax/ lol, this news made my day 
I wonder who trust to much on the 4chain...
But seriously I don't believe that this caused the price to decline at all, we saw that BTC went down which resulted in every top alt to be in the red zone. To many ICOs and bubble of ETH was being made you simply needed to see a correction. Bearing in mind that it is really rare to see something to go straight up without some big correction. Yes everyone is happy when it goes up, until some people want to cash out and you see after that the panic sellers that create the dump being much more than it should have.
Now you see how ETH is really depended on it's devs and that it is a bit centralized.
I wonder who trust to much on the 4chain...But seriously I don't believe that this caused the price to decline at all, we saw that BTC went down which resulted in every top alt to be in the red zone. To many ICOs and bubble of ETH was being made you simply needed to see a correction. Bearing in mind that it is really rare to see something to go straight up without some big correction. Yes everyone is happy when it goes up, until some people want to cash out and you see after that the panic sellers that create the dump being much more than it should have.
Now you see how ETH is really depended on it's devs and that it is a bit centralized.
Looks more like the correction of an already overbought market to me, to be honest... either way kinda worrying that Vitalik could be seen as a single point of failure in the case of Ethereum.
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!
There's a second possibility that goes like this.
Fake reasons are created for eth price fall to prevent people from understanding the real reasons behind it.
A story about a car crash could have nothing to do with an eth decline.
Eth could be a bubble that was going to pop with or without a fake story.
Now I see the advantage of a creator with unknown identity like Satoshi Nakamoto. If the creator is known, the market can be slightly manipulated by hoax / fake news. Some people depends their support to the creator, so if something like this happens, it really affects the market (regardless if it's fake or true, some people panic easily).
Fake news can make impact but only temporary because very soon it will be discovered they are fake so this can't last for long. But the damage could be done.
I'm not surprised ethereum is the target because it's on the constant rise and many don't like that and some also see it as serious competition to bitcoin so this probably will not stay the only attempt.
I'm not surprised ethereum is the target because it's on the constant rise and many don't like that and some also see it as serious competition to bitcoin so this probably will not stay the only attempt.
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 price of ethereum went sliding down and a lot of newbies get rest caused by a hoax. it can be determined as serious FUD and there some parties that against ethereum try to manimalism the impact to the public users. People are so easy to believe in with fake news in this time.
From what i understand every coin has a marketing team and it is their duty to properly reach out to the customers or investors and the recent price slide was simply because the network had some serious scaling issues to manage all the traffic and some huge sell orders were placed and that is the main reason for the market to go down rather than the so called fake news.
Fluctuations in the exchange rate of bitcoin will not affect the life of this currency in the future. All bitcoins will be bought on stock exchanges and settle in the pockets of other people. When this process ends, the price will recover and start to rise again. The PR company doesn't make sense.
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.
I think not only the fake news ruined the ethereum because there is also a news that tells that there is a Ddos attack on ethereum because there is a flood of transactions that sending ethereum with 0 value and i think it is a spam in the network and a possible Ddos so as well as the fake news about Vitalik it makes the people panic and it caused a dramatic dump for ethereum.
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!
Jump to: