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RE: One of the reasons behind ethereum price drop
I was just on that reddit thread and got here from there. I can't believe they are actually going to do this. You're right, it makes zero sense for a 14-people development team to need $200M in funding. I'm really glad I didn't invest in this ICO. I've been getting a bad taste in my mouth from all this but people keep buying into them. I even see videos about get rich quick through ICOs. It's just a prettier name for a pump-and-dump.
Do you hold any ETH? Thinking of vonverting to fiat or moving to BTC in light of all this, until everything settles down?
Yes. I believe in ETH. And I will hold it. Giving up on Ethereum is not a good move at this point according to me.
I agree with @rnkhouse. Just hold your ETH, I'd actually advise buying more and hold.