Topic: ETH = Game Over - page 31. (Read 40467 times)

Do you know any decentralized autonomous organization ?

I don't ..

I think it will alive again soon if you are one of the believer of ethereum support it and i think it will increase again soon even many people here are trying ethereum to go down.. it doesn't mean that they are involve in scam or hack in dao..

Finally Game Over. 

Right, that was the Mintpal fiasco, just before MP got hacked wasn't it ?

Was not spreading FUD. Shit actually happened, it was not a hack indeed, it was code, perfectly "legal", since the code allowed it.
2010 Bitcoin does not = 2016 ETH/DAO

None hold ICO's, pre sales, auctions for developer premined tokens, VC money collection rounds, wrote articles saying it is and PR parades for the Bitcoin 2010, when a bug in the protocol  - which would destroy it had to be fixed -, so your comparison does not stand. Nothing personal, just facts.

I quote directly from the homepage:
"Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference."

Their words, not mine. So if that is true, than this was a working as intended legal robbery of other DAO holder's funds by a smart application - since by their definition, there is no possibility for fraud, or third party (hack) interference.

(Or they just bad with understanding fundamental concepts which are mutually exclusive to each other; like what exactly happened, a badly(?) designed smart contract wreck havoc on their network with no chance to fix other than a massive interfering/address censorship and third party interference (devs calling for spam attacks) to stop that application running...)

I partially agree, there can be specific purpose coins and general purpose coins, but it depends on the implementation.

Nothing will ever come close to security such as bitcoin, unless bitcoin mining becomes too centralized at which point we will need to make a decision about it's future.

But then again sidechains should be a good way to separate the data layer from the currency later. I also think isolation is a good approach, one big blob of code to execute it all is definitely not practical nor secure, not by design, not by algorithm.

All altcoin developers should learn from this, and find strategies of development that are resistant to vulnerabilities.

I fully agree with the conclusions of the submission RealBitcoin.
Unfortunately, most people absolutely do not understand the code and are guided in making an investment decision on the basis for them what say other people.
 I think that it will take more time that people would realize that any platform should be separated from the crypto currency.
Crypto currency it wallet is just a place to store your coins and your wealth.
The wallet had to be not raw and untested code or bypass time of loopholes to gain access to your money.
But an aggressive advertising campaign ETH has done its job.
Now this market is ruled by speculators and the price of ETH will gradually fall as well as the interest in this dubious coin.

so how can you shut down a decentralized autonomous organization?

It is about money after all, their investment is at stake. But they are incentivized to do the right decision, because if they make the wrong one, they will lose a lot of money.

The 1.2 billion $ marketcap can easily turn into 1.2 million, and something else like LISK or NXT can take ETH's place. I would not be surprized.


Yes I heard about that incident and the paycoin one.

It's really horrible when the leadership is wreckless. But let's not be too judgemental, they got 27 days to make the decision? (however the longer they wait the more they can lose)

this is not the first time this type of BS has happened.

Vericoin was one of the earlier ones if not the first to implement a HF to get stolen coins back.

Talk about central planning.

Satoshi would be so proud. Look in the mirror, most of this community are greedy bitches that doesnt give a fuck about what ls going on. Money is a fuckin illusion.

I said it.

Hmm interesting i didnt know that, people were always talking about hardforks, but were always opposed in BTC.

Well at this point i`m only thankful that I dont own any ETH, otherwise I`d be chewing my fingernails right now.

Stephan is a very bitter man that is furious someone was able to due business with DAO contracts and corner a large chunck of Ethereum that he wanted for his company. This spiteful man is even trying to hunt out and at least Doxx those that talk about moral hazard and the dangers of a HF for the credibility of Ethereum -

https://twitter.com/DanDarkPill/status/743789597482692608




Technically it was a softfork in 2010 and BTC has never had a HF but your overall point is still valid.

Don't hate on me me, I just live in your world.

http://www.coindesk.com/dao-attacked-code-issue-leads-60-million-ether-theft/

It was a hack/exploit/vulnerability/theft, whatever you want to call it, the semantics doesn't matter here.

The point is, that ETH is vulnerable, and the response to this incident is horrifying.

Hardforking BTC in 2010 was no big deal. Hardforking ETH in 2016 with 1.2 billion market cap is a big deal, because you are risking OTHER PEOPLE'S MONEY!

[4:15:37 AM] Mathias: Guys, I understand the stress you are all in at the moment.
But please keep the big picture in mind :
What we are facing is a crappy smart contract, and careless investors. This is their risk of investing without proper due diligence.
Don't risk the reputation of Ethereum as an independent, decentralized platform because of it by taking hasty measures like hard forks or roll  backs .

You are correct that there was indeed no hack... or even theft! Code = law


There are some people discussing ways to steal one individuals eths with a HF , but that hasn't happened yet.

Stephan Tual: "I see the argument. Let it fail, let everyone lose their money. But in this particular case, it’s not an attack on The DAO. It stems from a pattern in the language that is the base of all smart contracts. This is an attack on ethereum.”

Quit spreading disgusting FUD. There was no ETH or DAO hack. just as Bitcoin was exploited in 2010 and was soft forked to save itself ETH will be so no funds are lost. No big drama that's not been seen before with Bitcoin. Get over yourselves.

I just see many ETH shills and fanboys on coindek articles who are desperately trying to defend ETH after countless of catastrophic decisions shown by their developers.

I really feel sad for them, the free market always punishes the wrong investors in the wrong investments. Eth was always a leaking boat, and now the hole has become too big and will probably sink.