DAO has been hacked/exploited, and Ethereum is rapidly losing trust in their developers, as they want to introduce an ETH hardfork to reverse the hack. What a wonderful decentralized currency where a few people decide what happens and the entire network is subjugated to the decisions of a few. Not to mention Ethereum already has big blockchain, soon ethereum will turn into a centralized bank , if it doesnt die before that.
Here are a few important things:
1) 20 second block timer with maximum blocksize = 89 Kb, that means that the blockchain will grow in the future 375 Mb /day.
The ETH blockchain in 2 years will be bigger by 264 Gb +-
The ETH nodes will start dissapearing pretty quickly with that size, because the reindexing and all other operations you need to perform when you download and update a node, will take far too long for anyone to bother.
Soon only a few datacenters will be able to operate ETH.
2) The development is wreckless, they spend more time on going to PR events than to actually engineer the code well, first wallet softwares were buggy as hell, took years to sync, which is fair because bitcoin was buggy also at first. However instead of promoting a buggy as hell client, they should have focused on development first and then marketing.
3) Ethereum is too complex, and the more complex something is, the more attack surfaces it has. An ideal cryptocurrency has to be simple and secure. And ETH has many more 0 day bugs that we dont know of yet, so this wont be the last hack. It came out far too fast because of PR pressure. The devs should have stayed 1 more year reviewing and researching the code and make the coin secure in that time, before pushing it out to the public.
4) It's already centralized as hell, the devs can just reverse transactions like this. Sure reversing a hack is obviously good right ?, but
the road to Hell is also paved with good intentions. Abusing power comes in small increments. First they only reverse hacks, and then later you find out that everyone will become censored.
5) Turing complete is never secure. Malware will always find a small hole to exploit if the code is not isolated. It doesnt even fit into the decentralization philosophy. How can you have decentralized code when all dapps are runing on the same interface? Any 0 day exploit will be discovered in the future and it can risk all DAPPS, thats not a secure foundation to build a house castle, it's quicksand! Bitcoin & sidechains are much more safe and isolated, than ETH dapps!
That's just my honest opinion.
