Well that's not fair IMO if you look at the toolset and infrastructure they have built it is pretty phenomenal. Unfortunately the inflation rate is too high and the market capitalization is becoming increasingly hollow as there is obviously not enough buy support that can stabilize the value of the currency. They could have used some of that $$ to hire a competent market analyst who could have told them this early on.
Buy walls are getting obliterated right now on this sudden realization.
Better fork the code and fix this ASAP.
The problem is not as much as the supply is too high, the problem is that the demand is too low because not meaningful Dapps are out there to consume Eth. It will come in time. Nevertheless, for a coin that produced 1.5 Millions ETH over the last two months, + the millions of ETH purchased last year, I am amazed that it is still trading at double the purchase price of 2014. Buy walls are getting obliterated right now on this sudden realization.
Better fork the code and fix this ASAP.
It will go below original purchase price at some point. It was always destined to. The biggest pump and dump in altcoin history by far. It may still be worth something eventually, buts it going to get A LOT worse before it gets better imo.
TL;DR? Check the summary on top of this page.
BTW: the pump and dump was done by speculators on Poloniex when the trading started. Everyone knew that coins were purchased for $0.30 each in 2014 - lots of them... There was not reason to pump it to over $2.00... Still time to get out at the current $0.60 per ETH
But exactly who got what and for exactly what work? That article gives no specifics.