Topic: I think Ethereum will be finished after this attack - page 14. (Read 15605 times)

Yes and this is consistently overlooked by Spoetniktards.

Why do they fail if they fork?

Seems to me the fanboys who buy anything that sounds good, don't really care about whether it is decentralized, because we were writing for months in the Ethereum Paradox thread that Casper would be moving it towards centralization. They only believe what they want to believe.

So why would recovering the funds for the fanboys be worse than not from the perspective of sustaining Ethereum?

They can state that the rules weren't well elucidated and that in the future, all users must understand that contracts are not warranted to perform as advertised.

Tual has potentially a big problem if they didn't do adequate disclosure. This can end up in lawsuits and he can end up prosecuted under securities regulations. If they did make very clear and conspicuous disclosure about risks, then they definitely shouldn't fork because no one will ever again know what the rules are (as they will be open to change at-will).

Ethereum will continue to slowly bleed out over next 26 days until the "stolen" ETH is available to be spent. The big bleedout will occur when one of two things happen:

1. Ethereum forks, either soft or hard, both would be disastrous to the long term viability of ETH. It would be a very dangerous precedent to set.
2. No action taken, the "stolen" funds become spendable and the attacker dumps them all on the market, because who the hell wants to sit on several million dollars worth of funny money?

Either scenario would involve a mass dump return and Ethereum back to sane pricing. Over 1 billion market cap for an unproven system was always unsustainable - this just hastened things along. I would not be surprised to see it go under $1 or $2 after all this is said and done. I worry what the community will do, since this situation is very similar to what happened with NXT, even though no fork was issued there, the community was split down the middle and the coin never recovered.

Time will tell. Ethereum still has a long term chance if they do not fork, and the community does not divide itself, though it will take a long time to recover from this market shock. Very unfortunate situation for all involved, but maintaining fungibility should take priority over everything else.

Yeah and the biggest joke of it all is it was not even a proper hack cause the "hacker" used the code of the DAO smart contract to get the money, so he deserves the money, but mad Vitalik wants to steal it with a hardfork, what a mess!

Glad I was all in on BTC.

https://twitter.com/kristovatlas/status/743855063597121536

Almost 2 years ago exactly, Vericoin (VRC) forked to recover stolen funds
http://www.coindesk.com/bitcoin-protected-vericoin-stolen-mintpal-wallet-breach/

VRC chart since:

-15 % an hour ago..

$ 14.67 (-25.87 %)

nuff said..

JK:

ETH is fucked ..GAME OVER !

In my opinion don't expect high in altcoin like ethereum they are the same as other altcoin.. why they are making new currency and sell it when its release in trading sites? honestly in the first time if what other altcoin do after pump and dump they are also doing it.. they are just making more money with there project.. remember DAO i heard that this project already hack thats why the price is crash.
What do you think guys why they are starting making new altcoin day by day i saw many new altcoin in altcoin anouncement.. they are just lying in there promises even the name of the coin is nonesense they are pumping the price to attract people to sold it..
Honestly those altcoin are useless no use.. we are already have legit coin and oldcoin in market places they are already live long.. like cbx litecoin dogecoin..
why they are still making new one.?

I am running a polling thread on this opportunity for eth coin to soar or crash and burn.

please post on it.

haters and lovers of eth coin are welcome.

I think it's indeed a hard blow for Ethereum.

Ethereum's "USP" is their Turing-complete smart contract platform. You can basically do all things with the scripting language that you can do also with another programming language.

On the other hand, if you sign a contract, you should understand what you are signing.

But that's the problem. Turing-complete programs can be very complex. Not anybody - in fact, very few people, mostly "techies" - understands Turing complete code and its implications.

Now you have a contract - a "DAO" - that attracted thousands of little investors, most of them having no clue about what the code did and what its security implications were. And the security _was_ violated. That _will_ happen again.

I can imagine Ethereum now only as a platform "from nerds for nerds". At least, for any investor in a Ethereum-based DAO, expert analysis of the code would be an absolute must. So its hard to imagine an adoption of the Ethereum platform by small and medium businesses and, much less so, by the average Joe.

So it may actually not be "dead", but reduced to a absolute niche platform.

I agree with this thinking . ETH is basically done.

You THINK!?!

Lol, you can eb 10000% sure ! Vitalk scammer and his minions become millionaires thanks to idiots buying this ETH scam.

ETH --> finished ! DONE.

If you are smart and want to remain in crypto, move your shitcoins into LTC or BTC, or cash out and dont ever turn back.

ETH--> FINISHED.

Bitcoin was the first of it's kind.  There wasn't any alternatives people who now would naturally go to, and in theory killing off eth. 
Different times. Reversing transaction due to badly written code is what they are currently proposing.  All principles go out the window and eth will be tarnished forever.

Wasn't there a bitcoin snafu where it went to 1c briefly because there was a major code problem in early days, like 2011 or 2012?

Damn right ..Well said !

I also have agreed when similar things happened to other shit coins before.
So i am not agreeing just because i don't like ETH or something.
He REALLY did fuck up and make a2nd massive problem on top of the first (the hack)

It may have limped along after but not after Butterin fucking it up like that..

what an idiot  

but that is centralized (not a currency) ICO scam "coin" for profit DAPPS platform leader for ya LOL

Note a REAL decentralized currency would not have a leader even able to fuck with it like that int he first place.

Moral of the story ?
..wait for it..

here it comes..

"i wuz hacked"


aha ha hahahahhahahhahah ahhahahahahahhahahha

Further there is no one who could demand this there is no Lenin with his minions following him

Vitalik Buterin did the mistake of his life by pannicking about people panic selling and demanding that exchanges froze the ETH markets... I mean what the FUCK? Think about this for a moment. This is terrible and sets a scary precedent. This would never happen with BTC because everyone knows it would be a disaster.

I think Ethereum will be no more among us after this attack, the issues to it will be fixed sooner but i don't think that it will survive for longer , it will die in this year.