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Status ICO Generates Over $60 Million, Fails to Deliver, Triggers Ethereum Overload by jigarparmar519

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· @jigarparmar519 ·
Status ICO Generates Over $60 Million, Fails to Deliver, Triggers Ethereum Overload
https://news.bitcoin.com/wp-content/uploads/2017/06/shutterstock_373604053-640x480.jpg

"A decentralized messaging app called Status — built on the Ethereum blockchain — raises over $60 million dollars during its first coin offering campaign. but, as soon as the sale initialized the network became chokeed, and the Status team was not able to immediately provide everybody with their promised coins."

https://news.bitcoin.com/wp-content/uploads/2017/06/status-logo-tokenmarket-150x150.png

A trustnodes.com article covered :

>"The sale was planned to last until 4th of July, but the cap of 300,000 eth was quickly reached during a frenzy period which broke down ethereum’s network, creating much congestion, backlog and some shenanigans."


### "Ethereum’s Network Overload Causes Service Suspensions; Its Transaction Price Also up"

https://news.bitcoin.com/wp-content/uploads/2017/06/Ethereum-Transactions-on-hold-1-681x162.png

They tweeted,
![01.png](https://steemitimages.com/DQmRvFFsGKrSeUYDdJBbaHf3dzkaiEfdLVfjiGWArbM4RdR/01.png)

### "Ethereum’s Price Begins to decrease; Ecosystem Greed, and Healing the Network"

https://news.bitcoin.com/wp-content/uploads/2017/06/ethereumorg-150x150.png

>"I don't know when Ethereum will come back and healthy online, but the importance of the mad rush for ICO speculation have been severe. According to Coinmarketcap stats, the price of Ethereum has begun a plunge. It is down at 12.04% and still going down, at the time of writing the article."




#### "What Do you think about Status? will it recover? Will Ethereum continue spiraling downward? Share your thoughts below!"



### ##Shameless plug
If you found this post helpful on Steemit, would you please upvote it and follow me because you will then be able to see more posts like this in your home feed?
👍  , , , , , , , , , , , , , , , , , , , , , , , , , , ,
👎  ,
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vote details (30)
@david777111 ·
Good to know. Thanks for the post.
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@mahaji ·
$0.04
I think Ethereum blockchain will recover, but it was expected that Status ICO was a suspicious one. I planned to invest some coins into it but after reading some comments on the ICO itself I refused to do so. It seems that was a right decision.
👍  ,
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@dinoo ·
$0.56
It was hard to not participate, but now I'm glad I was strong enough to resist :D
👍  ,
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@tensorflow ·
I am here with you, will see if we were right and ICO wasn't worth it
👍  
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@markjackson1989 ·
$0.65
thought about investing not sure if i will now
👍  
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@mishad5 ·
$0.03
follow me i will voted every time
👍  
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@jigarparmar519 ·
done
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@tayyabafridi ·
Followed u
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@ndre1224 · (edited)
I was wondering what was causing those rough last couple days towards ETH's value, didnt look into it too much though. But hey, gotta look at it as a flash sale with the certainty of a rebound and further growth!
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@rudystyle ·
Nice article. upvoted
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@screenname ·
Re: Status ICO Generates Over $60 Million, Fails to Deliver, Triggers Ethereum Overload
<p>This post has been ranked within the top 80 most undervalued posts in the first half of Jun 22. We estimate that this post is undervalued by $39.32 as compared to a scenario in which every voter had an equal say.</p> 
<p>See the full rankings and details in <a href="https://steemit.com/curation/@screenname/the-daily-tribune-most-undervalued-posts-of-jun-22---part-i">The Daily Tribune: Jun 22 - Part I</a>. You can also read about some of our methodology, data analysis and technical details in <a href="https://steemit.com/curation/@screenname/introducing-the-daily-tribune-most-undervalued-posts-of-nov-04---part-i">our initial post</a>.</p>
<p>If you are the author and would prefer not to receive these comments, simply reply "Stop" to this comment.</p>
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@steemcleaners ·
Source: https://news.bitcoin.com/status-ico-generates-over-60-million-but-fails-to-deliver-meanwhile-ethereum-flounders/

Not indicating that the content you copy/paste is not your original work could be seen as [plagiarism. ](http://www.plagiarism.org/plagiarism-101/what-is-plagiarism/)

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Thank You!
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