Apparently, the GDAX Ethereum megaflashcrash was due some huge amount that came from the genesis block dumping all at once into the market and triggering this shitshow.
Apparently, the genesis block had 72 million premined coins that was kept between the developers (wtf)
Honestly, how isn't ETH anything but a mess?
Apparently, the genesis block had 72 million premined coins that was kept between the developers (wtf)
Honestly, how isn't ETH anything but a mess?
What a selfish post... You really posted it? Why?
Selfish how? Im just pointing at an obvious problem: There's too much ETH in control of the original devs and we have seen what potentially is a massive dump by one of them or several of them.
Im not worried because im not holding any ETH, but if I was holding ETH, then i would be pretty worried.
If I understood correctly, 72 million out of 100 million is in the hands of very few. That's pretty retarded in my book.
If this is true then it can only one thing. They are just simply pump and dump coin. I pitied who may have been trap already and can't get out. I'm not worried at all because I was able to get out of it weeks before the actual crash and I'd say I made a profit. But for those who are not lucky, and still holding I think they will be in a rude awaking once the price drop more in the coming weeks.
oh wait ok maybe panic 