What a time to be alive. If your new to crypto go get yourself some fresh air and a glass of water. This sort or craze has been happening since 2009 and it only gets better. Just remember, your emotions will destroy you in this game.
Now again, we have work to do and need to make it snappy. Our previous long positions are closed over .021 (thanks for the confidence) and bag-holders are now left scratching their heads. "What happened?" Just another day...
Im gonna bang this out and get back to the markets.
Put simply: The Ethereum Foundation is bound by the original contract that we Genesis investors supported. They are legally obliged to support the chain and develop constructively.
The Foundations funding is also tied to this contract and they must act responsible with allocated funds.
The ETH DEVS, unknown to them at this moment, are owned by the original chain that is trading as ETC on the Poloiniex exchange.
The offending hardfork clone, trading fraudulently as ETH on the exchanges was a major mistake. The original chain with integrity was never going to fade away and die. Slock.it's selfish, greedy and entitled arrogance have now cost the Ethereum community over $800M USD in losses.
The ETH logo, branding, domains, github and funds belong to the original Ethereum chain. The Hardfrok has no entitlement and must seek alternative options.
The positive to come out of this is that we now have a new authority in town. Before the drama our $USD position was commendable but has now grown beyond our forecast to include a rather ludicrous appreciation.
Did we know something before you all again? Yes we did. Poloniex supporting ETC was no surprise but we explicitly state, no information was willingly passed to us of this revelation.
Our trading activity? An 8hr liquidation of our ETH holdings and subsequent 3 hours building short positions across the 3 major exchanges.
Once the ETC was listed on Poloniex, we purchased X amount over 3 hours under .0012. As you are aware, we are defending the .001 area on the market from those who wish to harm price discovery. We wish you the best. Under a 10-1 dilution, we have enough BTC to absorb attempts and will
This may well be the most epic battle of all time but unfortunately we will win the war. What makes me so confident? Besides crypto morals and ethics (those new to crypto and ETH have no idea) we have the law in our hands. Any foolish cries about some "hack" are outlandish and crude. If BTC hardforked for every transaction we disagreed with it would be worthless by now. This is happening with the Ethereum hardfork as we speak and we reminisce of the Vericoin mintpal HF.
Fortunately for us, when we provided our BTC for the luscious 1BTC-2000ETH there was a nice little spiel that we had to agree to before ploughing BTC into the ETH foundation.
This foundation, as much as they might not like it, have a legal obligation to support and develop on this chain. The Foundations ETH funds, are not a slush fund or "free money" to do so as they please. They are there because people like me provided our support a year ago for them to do something for us on a blockchain. Develop it.
Its the funding we provided and that equity has purpose. The Clone (ETH) on the other hand has no obligation from the foundation regardless of community consensus. The foundation is bound to the original chain. They are welcome to work on the fork in their spare time but it is no priority.
We expect a statement from the Foundation within the next 72hrs expressing their support.
Now that the tables have turned and you all realise "forking" doesn't solve shit you're all back to square 1. Can you fork back and recover the $USD?
We reach out to the individual/collective group who rightfully and legally claimed the DAO funds. We express our full support and offer our backing with any funding/legal support necessary. Please contact us and we will fly to your destination to begin counsel.
We are holding our ground and will challenge the Ethereum foundation to any objections to the above claims. We would also like to speak with any individuals that hold interest in launching action.
Time is of the essence and I need to get back to the books -Enjoy the moment
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DISCLAIMER - I DO NOT TAKE CREDIT FOR WRITING THIS POST!
Cheers,
Rich T