the dao was a scam | Bitcointalksearch.org

EssentialCoin

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Activity: 354

Merit: 250

Quote from: Ultrabat on August 07, 2016, 02:44:46 AM

Quote from: dumada on August 06, 2016, 05:43:58 AM

That is right. There will be many forks of the ETC and many people will own many kinds of ETC in the future.

So the current ETC holders will be rich in the future. But the combined values of the various ETC could be lower.

The ETC price is about 0.1 of the ETH price now. A few weeks ago, the price of 0.3 of ETH. So the ETC price has dropped.

Ultrabat

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Quote from: dumada on August 06, 2016, 05:43:58 AM

That is right. There will be many forks of the ETC and many people will own many kinds of ETC in the future.

So the current ETC holders will be rich in the future. But the combined values of the various ETC could be lower.

dumada

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Activity: 154

Merit: 100

Quote from: varusisog on August 05, 2016, 02:41:58 AM

Quote from: EssentialCoin on August 04, 2016, 05:57:23 AM

Quote from: Ultrabat on August 01, 2016, 05:20:06 AM

Quote from: Azael on July 31, 2016, 08:02:28 AM

Quote from: EssentialCoin on July 31, 2016, 07:58:44 AM

Quote from: dinofelis on July 28, 2016, 09:13:09 AM

Quote from: GreenBits on July 28, 2016, 09:08:33 AM

In still not completely convinced this wasn't intentional, but so far they have played the inadvertent aspect to great effect

I can go with the idea that it *became* a scam at a certain point, when the over-ambitious authors of it realized that this thing grew totally over their heads and didn't know how to get out of it. But I do think they were honest at the beginning at least, with truckloads of hubris and ego-inflation.

Do you think the ETC is more scam than the ETH? It seems that could be a big pump and dump scam.

ETC is not a scam. ETC is the real ETH and ETH right now is the HF'd coin which by all measurements or metrics whatever you call it is not a crypto anymore. Do you know what message was in the Bitcoin genesis? Something about the '09 bailout of banks, this HF was a bailout of investors who played the markets like anybody else does. Just frigging ridiculous and you dare say ETC is a scam? ETC is the real deal and ETH is a frigging joke man. I am not gonna say ETH is a scam because people have destroyed that word but it is a joke and a disgrace to crypto.

The Bitcoin has hard forked, so is the Monero. Does it mean they are scams. The ETC has hard forked before.

The ETC will have to hard fork as well. There is exponential increase of difficulty in the PoW miing.

There might be a chance that somebody does not want to hard fork, so there will be two chains of ETC.

That is right. There will be many forks of the ETC and many people will own many kinds of ETC in the future.

Azael

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Activity: 196

Merit: 100

It was set up illegally from the get go. I think they've broken at least a dozen securities laws for example. And how the hell were you supposed to your taxes on something like that? I was pretty surprised to see such a large portion of the community invest in this. Basically everyone in it would be doing something illegal at some point. Blows my mind..

And well if somebody should go to jail at some point it's definitely Stephan. He's a very good marketer because he doesn't care what he say is true or not as long as he believes it himself then that's ok and legal for some reason. I like the guys charisma but damn that is fraudulent.

varusisog

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Activity: 123

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Quote from: EssentialCoin on August 04, 2016, 05:57:23 AM

Quote from: Ultrabat on August 01, 2016, 05:20:06 AM

Quote from: Azael on July 31, 2016, 08:02:28 AM

Quote from: EssentialCoin on July 31, 2016, 07:58:44 AM

Quote from: dinofelis on July 28, 2016, 09:13:09 AM

Quote from: GreenBits on July 28, 2016, 09:08:33 AM

In still not completely convinced this wasn't intentional, but so far they have played the inadvertent aspect to great effect

I can go with the idea that it *became* a scam at a certain point, when the over-ambitious authors of it realized that this thing grew totally over their heads and didn't know how to get out of it. But I do think they were honest at the beginning at least, with truckloads of hubris and ego-inflation.

Do you think the ETC is more scam than the ETH? It seems that could be a big pump and dump scam.

ETC is not a scam. ETC is the real ETH and ETH right now is the HF'd coin which by all measurements or metrics whatever you call it is not a crypto anymore. Do you know what message was in the Bitcoin genesis? Something about the '09 bailout of banks, this HF was a bailout of investors who played the markets like anybody else does. Just frigging ridiculous and you dare say ETC is a scam? ETC is the real deal and ETH is a frigging joke man. I am not gonna say ETH is a scam because people have destroyed that word but it is a joke and a disgrace to crypto.

The Bitcoin has hard forked, so is the Monero. Does it mean they are scams. The ETC has hard forked before.

The ETC will have to hard fork as well. There is exponential increase of difficulty in the PoW miing.

There might be a chance that somebody does not want to hard fork, so there will be two chains of ETC.

EssentialCoin

sr. member

Activity: 354

Merit: 250

Quote from: Ultrabat on August 01, 2016, 05:20:06 AM

Quote from: Azael on July 31, 2016, 08:02:28 AM

Quote from: EssentialCoin on July 31, 2016, 07:58:44 AM

Quote from: dinofelis on July 28, 2016, 09:13:09 AM

Quote from: GreenBits on July 28, 2016, 09:08:33 AM

In still not completely convinced this wasn't intentional, but so far they have played the inadvertent aspect to great effect

I can go with the idea that it *became* a scam at a certain point, when the over-ambitious authors of it realized that this thing grew totally over their heads and didn't know how to get out of it. But I do think they were honest at the beginning at least, with truckloads of hubris and ego-inflation.

Do you think the ETC is more scam than the ETH? It seems that could be a big pump and dump scam.

ETC is not a scam. ETC is the real ETH and ETH right now is the HF'd coin which by all measurements or metrics whatever you call it is not a crypto anymore. Do you know what message was in the Bitcoin genesis? Something about the '09 bailout of banks, this HF was a bailout of investors who played the markets like anybody else does. Just frigging ridiculous and you dare say ETC is a scam? ETC is the real deal and ETH is a frigging joke man. I am not gonna say ETH is a scam because people have destroyed that word but it is a joke and a disgrace to crypto.

The Bitcoin has hard forked, so is the Monero. Does it mean they are scams. The ETC has hard forked before.

The ETC will have to hard fork as well. There is exponential increase of difficulty in the PoW miing.

Ultrabat

member

Activity: 117

Merit: 10

Quote from: Azael on July 31, 2016, 08:02:28 AM

Quote from: EssentialCoin on July 31, 2016, 07:58:44 AM

Quote from: dinofelis on July 28, 2016, 09:13:09 AM

Quote from: GreenBits on July 28, 2016, 09:08:33 AM

In still not completely convinced this wasn't intentional, but so far they have played the inadvertent aspect to great effect

I can go with the idea that it *became* a scam at a certain point, when the over-ambitious authors of it realized that this thing grew totally over their heads and didn't know how to get out of it. But I do think they were honest at the beginning at least, with truckloads of hubris and ego-inflation.

Do you think the ETC is more scam than the ETH? It seems that could be a big pump and dump scam.

ETC is not a scam. ETC is the real ETH and ETH right now is the HF'd coin which by all measurements or metrics whatever you call it is not a crypto anymore. Do you know what message was in the Bitcoin genesis? Something about the '09 bailout of banks, this HF was a bailout of investors who played the markets like anybody else does. Just frigging ridiculous and you dare say ETC is a scam? ETC is the real deal and ETH is a frigging joke man. I am not gonna say ETH is a scam because people have destroyed that word but it is a joke and a disgrace to crypto.

The Bitcoin has hard forked, so is the Monero. Does it mean they are scams. The ETC has hard forked before.

Azael

full member

Activity: 196

Merit: 100

Quote from: EssentialCoin on July 31, 2016, 07:58:44 AM

Quote from: dinofelis on July 28, 2016, 09:13:09 AM

Quote from: GreenBits on July 28, 2016, 09:08:33 AM

In still not completely convinced this wasn't intentional, but so far they have played the inadvertent aspect to great effect

I can go with the idea that it *became* a scam at a certain point, when the over-ambitious authors of it realized that this thing grew totally over their heads and didn't know how to get out of it. But I do think they were honest at the beginning at least, with truckloads of hubris and ego-inflation.

Do you think the ETC is more scam than the ETH? It seems that could be a big pump and dump scam.

ETC is not a scam. ETC is the real ETH and ETH right now is the HF'd coin which by all measurements or metrics whatever you call it is not a crypto anymore. Do you know what message was in the Bitcoin genesis? Something about the '09 bailout of banks, this HF was a bailout of investors who played the markets like anybody else does. Just frigging ridiculous and you dare say ETC is a scam? ETC is the real deal and ETH is a frigging joke man. I am not gonna say ETH is a scam because people have destroyed that word but it is a joke and a disgrace to crypto.

EssentialCoin

sr. member

Activity: 354

Merit: 250

Quote from: dinofelis on July 28, 2016, 09:13:09 AM

Quote from: GreenBits on July 28, 2016, 09:08:33 AM

In still not completely convinced this wasn't intentional, but so far they have played the inadvertent aspect to great effect

I can go with the idea that it *became* a scam at a certain point, when the over-ambitious authors of it realized that this thing grew totally over their heads and didn't know how to get out of it. But I do think they were honest at the beginning at least, with truckloads of hubris and ego-inflation.

Do you think the ETC is more scam than the ETH? It seems that could be a big pump and dump scam.

dinofelis

hero member

Activity: 770

Merit: 629

Quote from: GreenBits on July 28, 2016, 09:08:33 AM

In still not completely convinced this wasn't intentional, but so far they have played the inadvertent aspect to great effect

I can go with the idea that it *became* a scam at a certain point, when the over-ambitious authors of it realized that this thing grew totally over their heads and didn't know how to get out of it. But I do think they were honest at the beginning at least, with truckloads of hubris and ego-inflation.

GreenBits

legendary

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Quote from: dinofelis on July 28, 2016, 09:00:22 AM

Quote from: kobilica on July 28, 2016, 08:34:42 AM

DAO was promising project but it failed because of security hole. Life sucks sometimes.

I don't think that it was an intended scam from the beginning, but more something akin of this:

https://www.youtube.com/watch?v=K1kuy2yIRdc

In still not completely convinced this wasn't intentional, but so far they have played the inadvertent aspect to great effect

dinofelis

hero member

Activity: 770

Merit: 629

Quote from: kobilica on July 28, 2016, 08:34:42 AM

DAO was promising project but it failed because of security hole. Life sucks sometimes.

I don't think that it was an intended scam from the beginning, but more something akin of this:

https://www.youtube.com/watch?v=K1kuy2yIRdc

kobilica

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Activity: 280

Merit: 300

DAO was promising project but it failed because of security hole. Life sucks sometimes.

raphma

sr. member

Activity: 350

Merit: 250

after that 4 pages audit before the release and that "white hat attack", i'm pretty sure it was a scam... the dao hacker was an insider... and vitalik was probably working with them.

Ultrabat

member

Activity: 117

Merit: 10

Quote from: dumada on July 27, 2016, 06:38:27 AM

Quote from: BitUsher on July 26, 2016, 10:30:54 PM

Possible insider suggests Ethereum foundation is a mess , and EThereum is doomed-

https://www.cryptocoinsnews.com/source-ethereum-insiders-believe-dao-hack-inside-job/

People are buying with Ethereum, both ETC and ETH using the bitcoin. The volume is high. Why doomed?

I think the Ethereum will survive. It might survive in two forms, the ETH or ETC, or only one of the two.

dumada

full member

Activity: 154

Merit: 100

Quote from: BitUsher on July 26, 2016, 10:30:54 PM

Possible insider suggests Ethereum foundation is a mess , and EThereum is doomed-

https://www.cryptocoinsnews.com/source-ethereum-insiders-believe-dao-hack-inside-job/

People are buying with Ethereum, both ETC and ETH using the bitcoin. The volume is high. Why doomed?

marky89

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Activity: 756

Merit: 502

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Quote from: BitUsher on July 26, 2016, 10:30:54 PM

Possible insider suggests Ethereum foundation is a mess , and EThereum is doomed-

https://www.cryptocoinsnews.com/source-ethereum-insiders-believe-dao-hack-inside-job/

This is the picture I am seeing as well. From the start, their project was far too ambitious, creating an attack surface far too large to go uncompromised. Unfortunately this article doesn't tell us any real facts, but if I were part of the ETH foundation, I would be very worried about my legal liabilities.

BitUsher

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Possible insider suggests Ethereum foundation is a mess , and EThereum is doomed-

https://www.cryptocoinsnews.com/source-ethereum-insiders-believe-dao-hack-inside-job/

Ultrabat

member

Activity: 117

Merit: 10

Quote from: GreenBits on July 17, 2016, 02:07:09 PM

Quote from: Blawpaw on July 17, 2016, 11:51:30 AM

I don't think it was a scam to begin with... however, it exploit was just right for that to happen. Of course that if there's an exploit there will always someone taking advantage of it!

I'm still on the fence on if it was an inside job. I think someone inside told someone outside about the vulnerability, and is expecting a cut of that short. But the level of technical sophistication is amazing, it is almost as if someone where sitting on this, waiting to exploit it. Too major to be a passive discovery.

The vulnability was known before the hack. There was discussion in some forums. The developers thought it was not a big problem.

GreenBits

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Quote from: Blawpaw on July 17, 2016, 11:51:30 AM

I don't think it was a scam to begin with... however, it exploit was just right for that to happen. Of course that if there's an exploit there will always someone taking advantage of it!

I'm still on the fence on if it was an inside job. I think someone inside told someone outside about the vulnerability, and is expecting a cut of that short. But the level of technical sophistication is amazing, it is almost as if someone where sitting on this, waiting to exploit it. Too major to be a passive discovery.

Topic: the dao was a scam (Read 2979 times)