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Be careful with Ethereum.

barehunterbarehunter Member Plus
edited July 2017 in Ethereum
Another big hack to the tune of 30 million dollars. Lots of reports of people losing eth from various wallets. Eth is not reliable or safe. Are they going to perform another hard fork? Will there be eth3?
Be aware of ICOs offering tokens created on the eth platform. They are at risk too. DAO hack should not be forgotten.

http://www.financemagnates.com/cryptocurrency/news/hacker-stoles-32-million-worth-ethereum-3-multisig-wallets/

Comments

  • BruceWayneBruceWayne Member Plus
    In all honesty I think ETH has been overbought. I mean the possibilities that it brings are fairly massive, but on the flip side lots of the code seems almost basic. Like Javascript is a language that just about anyone can pick up, but very few actually try to master. Don't get me wrong; I've made a lot of BTC on ETH this year and I own maybe 3 or 4 which I mined in a few weeks last year but generally I've made my money and I just don't like it because of the coding problems fundamental behind it.

    Ripple is another coin which I actually do like because the coding behind it is very clean. Only problem is that it too uses Javascript as its architecture. The problem about using a low-barrier language is that anyone can write something which works, but very few actually think about how it might fail (and how to counter it). I haven't touched any ICOs just because it gets to the point where I have to read all the underlying code behind it to even consider it investment grade, instead of jumping on board of the next Pets.com

    It's the ebb-and-flow of investing. When times are bad everyone who's still around knows how to handle it. When times are good you're watching everyone rushing out to the shore grabbing something valuable and not realizing when it's time to head to higher ground because the tide is coming in.
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