Topic: The ONLY solution to the ETH/DAO conundrum.. (Read 1700 times)

There is enough alts out there that had 5% or 10% of supply stolen and dumped and survived it. ETH community is a bunch of betamale pussies that are scared of volatility.

@OP
Why cry like being hurt? Just sell and move on. Nobody sheds a tear over a shitcoin, really.

If hackers dump these coins price will be 50 cent

NXT died because of this!

I have done the same. I have my own conciounce. I think it is the stolen funds, so it has to be return to the owner.

Yep, me too. Voted for soft fork and hard fork as the funds were stolen.

I have voted for the soft fork, I will vote for the hard fork if the thief does not return the stolen funds and compensate.

If the miners decide to freeze the funds or even return the stolen funds to the owners of the DAO holers, will any courts chasing the miners world wide?

Somebody here actually understands PoW = miners are a "decentralized authority".

Ethereum miners have started voting in some pools on the "soft fork"...
The "soft fork" simply freezes all ETH transfers from the DAO contract (rendering the current "attacks" unprofitable)...
And there are roughly another 25 days left for miners to simply set a flag that locks up the DAO.

Ethpool is voting 99.4% in favor of a "soft fork" here:

http://ethpool.org/stats/votes

Looking at these numbers...
It's very likely miners will subsequently vote in a "hard fork" that will destroy the DAO... and return all ETH to investors.

Ethereum will not suffer from the same paralysis Bitcoin did post-Gox... and still does.

All the FUD you hear about "crypto purity" is from Bitcoin Maximalist Trolls...
Miners acting as a "decentralized authority" on ANY issue is at the heart of PoW.

The court may not agree that Vitalik has no political power. Considering how much all the mETH supporters prays at his feet, I'd say it is likely the court will find that Vitalik and his accomplices are significantly in control of the enterprise. But that is just my opinion as an observer. What do others think?

And remember that the attorney pointed out that each of the 1000s of plaintiffs can sue in any one of the 1000s of jurisdictions. Someone can find a favorable judge some where!!!

This is what I specifically warned about over the past months. I can even quote where I said that jurisdiction shopping would be a PITA because one would have to defend themselves against an unbounded number of threats.

As the attorney Pamela points out, this issue could have been significantly mitigated if their attorneys had advised them to add an arbitration clause to the TOS and also had more sobering disclosures on their TOS so that plaintiffs couldn't just choose willynilly to make any sort of claim of injury in any jurisdiction.

Who set up the legal structure for Ethereum et al?  They apparently suck!

Effectively MIT's 666 ChainAnchor proposal which can be used for enforcing KYC, is a blacklist coming to crypto-currency thanks to Ethereum and The DAO:

https://www.youtube.com/watch?v=RHcLKrkwPLQ#t=2627  <--- a real attorney's explanation

Thanks Vitalik for enslaving us!

AnonyMint predicted this in 2013, Bitcoin : The Digital Kill Switch.

What is interesting about all this is that all the outcomes will harm Ether:

1) no fork: attacker gets all these Ethers and he can manipulate the price as he wants.

2) with a fork: attacker doesn't get Ether, but confidence on Ethereum drops and the price goes down

And the "economic" solution (through economic incentives):

3) miners accept the attacker's proposal of one million Ether to reject the soft fork:
https://www.cryptocoinsnews.com/miners-to-be-offered-one-million-ether-claims-daos-alleged-attacker-in-ccn-interview/

"Just speculating (because only 1 million to miners is committed), but it makes sense to have a carrot and a stick. Carrot: return some of the eth to the DAO to make righteous people happy. Stick: return some of the eth to miners if they don’t fork to give monetary incentive to not fork. So… the impact and amounts will be a lot smaller than current estimations."

But even if miners accept the attacker's proposal, there's a risk of the price going down, so the miners will be harmed (unless they're already shorting Ether to gain when the price drops).

If this crisis is dealt properly, people will have more confidence in the Etheruem. It needs the whole community support.

Even when you 'fix' the code and create DAO 2.0 it is not enough. People will remember this fail forever. There is something which can't be fixed with rewritten code - people's trust.

And how exactly BTC was 'hacked'? I don't recall anything like that in the past. And certainly no coins were stolen during that 'attack'.

Even when you 'fix' the code and create DAO 2.0 it is not enough. People will remember this fail forever. There is something which can't be fixed with rewritten code - people's trust.

And how exactly BTC was 'hacked'? I don't recall anything like that in the past. And certainly no coins were stolen during that 'attack'.

Why not fix the code, create DAO2.0, and move on? BTC has hard forked before, it is a learning experience. Why do people say ETH is dead? ETH was not even hacked.

BTC was hacked before and survived!!

yep true story
if they can fork this shit...then goverment can let them fork things also

Well.. 24 hrs sure is a long time in crypto land.

As Ethereum worries about the 'piddly' 50 mil 'contractually' obtained from the DAO 'Sloppy' Contract (not sure you could call it Smart).. the ETH market cap has dropped 100's of millions of dollars.

This is NOT because ETH is at fault, or has been hacked, or has behaved abnormally.

But the ridiculous response from the ETH Elite that they will now reverse / fork / magic-away the results of a contract run on their network.

..

There is only one response from the ETH Elite that can save Ethereum.

Stay well away.

This is not your fight. ETH can and will be fine. If it had been a bug in the EVM, fork-away. It wasn't, and all you have done with your meddling is destroy any trust anyone had, in running a trust-less system.

What next ? When will you next decide to fork-away the unwanted.. When will a government decide to force you to fork.. How can you even speak in this way about a decentralised system without  admitting that the system is NOT decentralised ?

Will every Smart Contract to come be surrounded by legal jargon saying that - if you do something 'we' didn't think of - it's illegal !? .. there is more at stake here than just DAO.

..

'.. You've already done enough damage... This mission is OVER.. This mission IS OVER!! ..   .. ( Slams table hard with hand ) .. '

Please, walk away. It's that simple.

..

And as for the DAO.. write better code next time.

Consent just means "agreement". The creators of the DAO (rather stupidly) agreed that "code is law", and the attackers agreed with the code. It's generally assumed in contract law that anyone agreeing to a contract understands it completely, including any loopholes. Abusing a loophole in a contract is perfectly legal and can be legally enforced if it works against the person who wrote the contract (it's his fault, after all). A person who discovers that a contract allows them to collect free money can't be blamed for agreeing to it; it's the responsibility of the contract's author to ensure the terms of the contract can't be turned against him.

Contracts are all about consent; abusing a gap/hole/vulnerability in a contract is obviously non-consentual and thus illegal.