The Bancor ICO was this moring at 7am on june 12th and I set my alarm at 6:50am to buy a piece. Bancor is basically trying to become the SnP500 of the crypto world by stabilizing the volatility of a cryptocurrency.... pretty cool idea. This ICO had a minimum fundraiser time of 1 hour and since it was hyped and pumped up by the media I thought it would sell out fast, and with all the hype looks like it caught the eye of a team of hackers. At 7am the countdown clock strikes 0 on bancor.network and the fundraiser goes live, I try to generate my transaction on myetherwallet.com but it doesn't work. After 5 minutes of mild frustration I close my computer and go back to sleep. About an hour or so later I wake up and go to the bancor website which reads as follow:
Important notice: Massive attacks on our network. Ethereum blockchain under heavy pressure. We are monitoring and all is well. Minimum time extended to 3 hours due to massive malicious attacks on network and resulting pending transactions.
Pretty crazy I can imagine the Bancor team sitting together on their computers and as soon as they are at their weakest point the hackers attack. The second Bancor went live was the weakest point because their servers are already over loading from the massive interest and need to be a part of the ICO. From a non biased standpoint kind of a cool game of war between the two but it looks like, for now, that the Bancor team won because their fundraiser was a success and they sold out after the 3 hour minimum. Now just as this ends the crypto world starts to crash or correct. Ethereum peaked at around $410 this morning but now it's dropping at about $5 every 10 seconds. I feel the fear of god as I watch it drop to 350, 340, 330, 320.... all the way down to 309. Not to mention during this time coinbase has crashed along with the gdax and users are unable to sell or buy. Fortunately just as it hit 309 it shot right back to 340 and held strong, bitcoin along with almost all the other crytos had a similar experience. Now I understand that coinbase crashed because of over loaded servers because of the users trying to trade but it does seem weird... almost as if acouple massive players in the game all sold at once then waited for the price to drop and then buy back in, without allowing the public to do anything. What do you guys think? is it at all possible that the ethereum drop was because of the heavy pressure that was put on the blockchain from the hacker attack? But for now it seems order has returned to the cryto verse...