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You can't have the same actor both flood the markets to temporarily drive down the price and control a major stake of Ether - it's an either or proposition. In
by zenogais 10y ago
You can't have the same actor both flood the markets to temporarily drive down the price and control a major stake of Ether - it's an either or proposition. In the first case, assuming the move was purely malicious rather than self-interested, the price dip would likely not be fatal to Ethereum, but it would suck for a bit. The more likely move is sell-offs in chunks at price highs, as this would maximize profit which would seem to be the motive here so far. In the second case, the actor still doesn't control a majority, Ethereum's disinflationary nature erodes at that percentage stake at regular intervals, and they are incentivized to act positively wrt the Ethereum network to protect the value of their sizable assets.
I think it comes down to a matter of time preference. People who want their money back now or justice for the wronged aren't acting in a way that is seemingly interested in the longterm health of Ethereum. They just want what's best for them whether money or the gratification of revenge, and they want it now. The best longterm thing for Ethereum is for the investors to eat their losses, and for the appropriate amount of risk aversion to enter the ecosystem. This will create massive, positive incentives to create ways of reliably building and vetting future contracts. IMO that is better long term for Ethereum than the short term gains of a hard or soft fork.