so, naturally, during the time i was "internetless", the whole of cryptoworld was sent into a tailspin ove rthe DAO. ive spent a LOT of time in the last week, reading up on the situation, from every different perspective, mainly because we are an Ethereum-based blockchain, what happens there sheds an aura on us as well. im not sure where everyone's sympathies lie regarding the hard fork, or the fundemental split in the ETH community, the emergence of two competing chains, the vitriol and insanity being spread by both sides of the coin in this situation.
so for the record, i dont support the hard fork, or how the Ethereum Foundation is using the split funds (their reserves of ETC). when those chat logs were released online, showing that members of the Foundation were COLLUDING to sell their shares of ETC, to drive its price down. this is PRICE FIXING. here in canada, where mr. buterin is from, and who was implicitly involved in the collusion, the penalty for such a conspiracy of action is a maximum of 14 years imprisonment and/or a $25million dollar fine. the evidence in that chat log, pointing to a cabal of conspirators prepared to sell off their ETC to drive its price down and create a panic is well documented, and sets a dangerous precedent and i personally feel that an investigation into what has happened, how Ethereum Foundation members have dumped ETC stocks onto the market as part of a coordinated effort to discredit "the competition", will result in criminal charges and convictions.
i dont view the DAO kerfuffle as a hack or exploit and, being that the DAO presented itself as "the code is the law", they should have sucked up their losses, because even though it was "bad code", it should have been IMMUTABLE and CENSORSHIP FREE. those ETC tokens that the Foundation received should have been IMMEDIATELY and PUBLICLY sent to burn addresses instead of using the situation to enrich themselves. i do hope that there are criminal investigations into the situation.
i personally believe in the statements regarding the sacrosanct condition of the code, and that the blockchain should not be forked to preserve the funds of developers who built the flawed system that was exploited. even to the DAO investors who would lose funds because of the problem, they jumped in without due dilligence, and while this may have been done (investing in the DAO) on the thumbs up regarding code review by the foundation, its still an investment and thus comes with ingerent risk. and when a system fails and stocks collapse because of it, there shouldnt be a bailout. EVER.
i do know that an investigation has been launched regarding Ethereum antitrust and price-fixing. money has been made by foundation members by dumping ETC onto the market, "free money" as they put it, and it was done to ensure that the value of ETC diminished in order to raise their own valuation for ETH. its gonna get ugly, and in the end.. both ETH and ETC communities will suffer for it.
one thing this situation with ETH /ETC has shown is how important community is, and that is what SOIL has had strongly ever since our launch. this situation legitimizes the need for "small focus" blockchains that will serve specific industries. a clear message of VERIFIABLE CHANGELESSNESS of the blockchain needs to be made a strong and central part of the message.
all that being said... ive had an insanely busy week with my real-world job, and hopefully clients will be fewer this week so i can finish what i was doing for SOIL. theres been a lot of reorganization thats needed to be done, and ive got a new server up and running, hopefully wil have our network intelligence back up by tonite. ive rebuilt the website, and am just doing final edits and should have that back up and running within the day as well. i will be revamping our social media presences as well, and will get those slack invites out this afternoon.
SOILcoin needs to be restructured, community wise, and we will be facing a fork of our own sooner than later to bring our protocols up to homestead releases on ETH/ETC. with peters departure, many of the funds in the community reserves were lost and this also may need to be restructured, and ive been looking at how we might use contracts to facilitate the flow of these reserves, with multi-sig wallets etc. so, while we begin to loook at a revamping of the SOILcoin infrastructure, and weighing against the experiences of Ethereum these past few months, id like to ask what sort of changes... to the protocol (blocktimes, rewards, etc)... to the SOILcoin "council" and security for community held reserves... that the community itself would like to see.
we've been under the radar for much of our existence, but with the changes that have occurred in the greater crypto ecosystem, i think we need to come out from under cover and present a viable and IMMUTABLE blockchain alternative to the politics and one-upmanship involved between ETH and ETC.