What a fu***** shitshow. I have read multiple reports that even accounts with no active API keys had their funds liquidated into Viacoin, so I don't know what to think at this point.
We were all scared about Bitfinex and Tether, but instead one of the most trusted exchanges screws us! The universe sure has an interesting sense of humor!
Yeah..but what are we going to do? I'm not selling my cryptos. What the fuck am I going to do with that money? And especially now, down more than 50% since top.."only" up 300% all time. I'm fucking tired of this shit as well..wish we could fast forward five years.
Damnn, that is going to send us back for awhile. The problem with Hacks is it hits three fold; takes money out of the system, reduces trust in the system and increases regulatory pressure.
And the result of all that is decreasing prices. We should start getting prepared for a "atomic winter" in cryptos. Not saying it will happen..but be prepared. Can you deal with having your cryptos being significantly less worth for a year or two? Going down another 50% either taking away all gains from 2017 if you got in early..or putting you way way back if you got in later.
I think a 90%+ correction could easily still be in the cards, with a true floor being held only by those who simply aren't willing to sell at any price, anyone who was just in it for fiat profits will easily be chased away for the coming years by the collapse of an exchange or 10 and the destruction of all of the stablecoins. And funny enough they'll exit just in time for the fiat system to start crumbling, but will find it hard to re-enter crypto when all of the entrance gateways are shut.
Some FUDDY stuff! I dont't think so. Mining costs for BTC is about 13-1500$ ? A 90% drop would mean all faith in cryptos is gone, and that blockchain tech is considered pointless? Dunno man..sounds far fetched. But of course, anything is possible. At that point I'm going to vote for any party that implements universal basic income..cause I'll need it!
Sure. But for crypto noobs that are all ready down 50% of more, it's hard times right now. It's hard enough for me who's still up 400%. The best thing is to be prepared for the worst. I'm not going to sell any cryptos, because I believe in it long term. But it could take a long time to see those paper-gains again.Or not..who knows. But these things often take some time to fix.
Is there another choice? I could sell everything now. Suffering a loss of 50%.
So in stead I will take the gamble and trust in the technology and see where the ship strands.
I've trusted the tech every time we've been through these cycles..and hodling has worked out every time. I do get the feeling that I should hedge myself by at least get back into some robotic etfs and stuff just to feel a bit safer, with some of my money..and I might. Honestly I might hedge myself a little bit and sell some eth and btc etfs that i own through normal exchanges. But I havent sold yet..so we'll see what happens tomorrow.
That’s serious shit!
And it will take Binanve some time to recover, because trust is everything for an exchange!
Makes me wonder if this is the reason that everything is down in double red figures.
Not a good day!
These FUD panic selloffs seem to be necessary to get rid of the weak hands that are left and I have the feeling, that this is the last round before we go up again. Another day, where I'm happy, that Steem can't be sold so easily once powered up...
I actually sold my Viacoin yesterday :D Hahaha. If I had a crystal ball I could probably have tried to transfer via to binance and sell it with a 100x profit. In theory..that would have been 100,000 USD.
Oh man, you made my blood running fast! Just checked the binance and my coins seems untouched. Another reason not to keep too much in exchanges. Thanks for the update!
The only reason I keep some funds in there is their withdrawal fees, so I keep what I plan to trade not to move in and out as every withdrawal cost some money. I keep some eth and erc20 tokens, I always move ADA away to a local wallet as ADA transfers are actually cheap. I'm just glad I never saved anywhere my API key!
Indeed. For me it's not a huge stress factor. I'm still up 400% since I got into cryptos. And for those who got in earlier, it's nothing. But I have empathy for those who are down 50% on their crypto investments. That's a tuff lesson.
I'm interested in seeing how 90-day delinquencies on credit cards will look when we get a bit further out, considering there are many who overextended themselves with that route at prices much higher than where they stand now.
Time to imposed immediate torture and death penalty for hackers....and yes i'm serious. I'm so sick of hearing about hackers, there needs to be a task force that tracks them down and immediately drone strikes them.
Even if people didn't get their funds stolen you still gotta praise the guts of this move... When there's an exploit... hackers gonna hack:) Thanks for reporting on this!
What a fu***** shitshow. I have read multiple reports that even accounts with no active API keys had their funds liquidated into Viacoin, so I don't know what to think at this point.
We were all scared about Bitfinex and Tether, but instead one of the most trusted exchanges screws us! The universe sure has an interesting sense of humor!
Yeah..but what are we going to do? I'm not selling my cryptos. What the fuck am I going to do with that money? And especially now, down more than 50% since top.."only" up 300% all time. I'm fucking tired of this shit as well..wish we could fast forward five years.
I believe I have what you're looking for:
Haha. Boom. Like that.
+1 internet moneys to you good sir!
Damnn, that is going to send us back for awhile. The problem with Hacks is it hits three fold; takes money out of the system, reduces trust in the system and increases regulatory pressure.
Spot on.
And the result of all that is decreasing prices. We should start getting prepared for a "atomic winter" in cryptos. Not saying it will happen..but be prepared. Can you deal with having your cryptos being significantly less worth for a year or two? Going down another 50% either taking away all gains from 2017 if you got in early..or putting you way way back if you got in later.
It could potentially be ruff times.
That sounds a bit extreme.
I think a 90%+ correction could easily still be in the cards, with a true floor being held only by those who simply aren't willing to sell at any price, anyone who was just in it for fiat profits will easily be chased away for the coming years by the collapse of an exchange or 10 and the destruction of all of the stablecoins. And funny enough they'll exit just in time for the fiat system to start crumbling, but will find it hard to re-enter crypto when all of the entrance gateways are shut.
Some FUDDY stuff! I dont't think so. Mining costs for BTC is about 13-1500$ ? A 90% drop would mean all faith in cryptos is gone, and that blockchain tech is considered pointless? Dunno man..sounds far fetched. But of course, anything is possible. At that point I'm going to vote for any party that implements universal basic income..cause I'll need it!
Sure. But for crypto noobs that are all ready down 50% of more, it's hard times right now. It's hard enough for me who's still up 400%. The best thing is to be prepared for the worst. I'm not going to sell any cryptos, because I believe in it long term. But it could take a long time to see those paper-gains again.Or not..who knows. But these things often take some time to fix.
I don’t think it’ll be down for more than a month or two more. The market may be dropping but the tech itself is maturing.
Indeed. That's the correct way to look at it.
Is there another choice? I could sell everything now. Suffering a loss of 50%.
So in stead I will take the gamble and trust in the technology and see where the ship strands.
I've trusted the tech every time we've been through these cycles..and hodling has worked out every time. I do get the feeling that I should hedge myself by at least get back into some robotic etfs and stuff just to feel a bit safer, with some of my money..and I might. Honestly I might hedge myself a little bit and sell some eth and btc etfs that i own through normal exchanges. But I havent sold yet..so we'll see what happens tomorrow.
Well...splendid.
Perfect. Made my evening as well. At least the volume is up!
That’s serious shit!
And it will take Binanve some time to recover, because trust is everything for an exchange!
Makes me wonder if this is the reason that everything is down in double red figures.
Not a good day!
It is! Some conspiracy theories are that NSA/government is doing this to make us lose confidence. I wouldn't be surprised..
These FUD panic selloffs seem to be necessary to get rid of the weak hands that are left and I have the feeling, that this is the last round before we go up again. Another day, where I'm happy, that Steem can't be sold so easily once powered up...
Damn, if only I knew this was coming. I bought a bit more from fiat yesterday...
I actually sold my Viacoin yesterday :D Hahaha. If I had a crystal ball I could probably have tried to transfer via to binance and sell it with a 100x profit. In theory..that would have been 100,000 USD.
Ouch, that would be been a tidy profit! On the other hand, you now have an alibi. You are not the mastermind behind this!
He's just throwing them off the trail! Lose out on 100,000 in gains to lock in millions in stolen money! :D
Elaborate! Hall of mirrors what is the truth?
Or are you making him a patsy? Breaking your thieves alliance and running off with the loot?
Definitely not. Anyone who have to google API is definitely not the mastermind behind any crypto hack what so ever :D
Oh man, you made my blood running fast! Just checked the binance and my coins seems untouched. Another reason not to keep too much in exchanges. Thanks for the update!
You're welcome! Agree. I do keep some ADA and IOTA there though, but I should figure out how to best get them out once this blow over.
The only reason I keep some funds in there is their withdrawal fees, so I keep what I plan to trade not to move in and out as every withdrawal cost some money. I keep some eth and erc20 tokens, I always move ADA away to a local wallet as ADA transfers are actually cheap. I'm just glad I never saved anywhere my API key!
This is all part of the game. Stay calm and relax in order to hit the huge gains you must be able to adapt to this type of news !
Indeed. For me it's not a huge stress factor. I'm still up 400% since I got into cryptos. And for those who got in earlier, it's nothing. But I have empathy for those who are down 50% on their crypto investments. That's a tuff lesson.
I'm interested in seeing how 90-day delinquencies on credit cards will look when we get a bit further out, considering there are many who overextended themselves with that route at prices much higher than where they stand now.
Time to imposed immediate torture and death penalty for hackers....and yes i'm serious. I'm so sick of hearing about hackers, there needs to be a task force that tracks them down and immediately drone strikes them.
LOL I wish I had better voting power this gave me a good chuckle
Even if people didn't get their funds stolen you still gotta praise the guts of this move... When there's an exploit... hackers gonna hack:) Thanks for reporting on this!