There was no DAO hack - page 8. | Bitcointalksearch.org

Fanpant

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Quote from: Biodom on June 17, 2016, 03:43:30 PM

Quote from: Blazin8888 on June 17, 2016, 03:32:50 PM

We could see lower levels. 7 dollar floor...5 at the worst. This project still has a bright future. However the price is all speculation right now and it only makes sense. Dont forget ETH is a GAS...GAS prices go up and down. I expect this to be normal on the ETH network. I think more stable coins/investments will spring up on the ETH network. ETH is just the GAS. Someday it will maybe be some very expensive gas indeed.

I actually agree on $5-7 worst case scenario.
What i will be doing in the meantime...absolutely nothing, but will probably start buying eth for $$ OR even btc (less likely) at those prices.
This might be good for mining as POS could be further delayed, naturally.
Clearly, btc has at least temporary (or maybe permanent) edge now, until segwit is relesed and LN is started.
An unlikely failure of segwit and/or LN and the leadership roles might reverse once again.

If the price goes down to $5 or below, it is not profitable for many people with high electricity price. So it does not help.

Biodom

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Quote from: Blazin8888 on June 17, 2016, 03:32:50 PM

We could see lower levels. 7 dollar floor...5 at the worst. This project still has a bright future. However the price is all speculation right now and it only makes sense. Dont forget ETH is a GAS...GAS prices go up and down. I expect this to be normal on the ETH network. I think more stable coins/investments will spring up on the ETH network. ETH is just the GAS. Someday it will maybe be some very expensive gas indeed.

I actually agree on $5-7 worst case scenario.
What i will be doing in the meantime...absolutely nothing, but will probably start buying eth for $$ OR even btc (less likely) at those prices.
This might be good for mining as POS could be further delayed, naturally.
Clearly, btc has at least temporary (or maybe permanent) edge now, until segwit is relesed and LN is started.
An unlikely failure of segwit and/or LN and the leadership roles might reverse once again.

BitUsher

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Quote from: Blazin8888 on June 17, 2016, 03:32:50 PM

We could see lower levels. 7 dollar floor...5 at the worst. This project still has a bright future. However the price is all speculation right now and it only makes sense. Dont forget ETH is a GAS...GAS prices go up and down. I expect this to be normal on the ETH network. I think more stable coins/investments will spring up on the ETH network. ETH is just the GAS. Someday it will maybe be some very expensive gas indeed.

Ether has competition and may not have a bright future at all due to some fundamental flaws which others do not have. Additionally, if Ether is mainly CPU/contract fuel , than it isn't very useful to have "fuel" that is so volatile. ETH was pitched as fuel , but in reality is an insecure tarball of a mess that is principally still 99% speculative and IMHO irreparable.

Blazin8888

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We could see lower levels. 7 dollar floor...5 at the worst. This project still has a bright future. However the price is all speculation right now and it only makes sense. Dont forget ETH is a GAS...GAS prices go up and down. I expect this to be normal on the ETH network. I think more stable coins/investments will spring up on the ETH network. ETH is just the GAS. Someday it will maybe be some very expensive gas indeed.

TrueAnon

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WBB make all this bullshit coins/projects look silly soon enough

muahhaaaahahaaa

smooth

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Quote from: jubalix on June 17, 2016, 02:06:25 PM

I still don't get what Viterlan Butlerick has actually ever programed or practically done apart from the Bitcoin Magazine.

no one has ever answered me on this.

no offense to him, but it seems to be emperors new clothes ... he's really smart said by everyone that speaks of him .... but what in code has he done?

pybitcointools. I think he also did some python coding for Ethereum, but not a lot.

jubalix

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This is not a good look.

I tend to think you have to let the contract go through, as that is what is is designed to do.

This imposes market discipline and makes future "dao" like investors and offers much more robust.

BTC did have a similar thing back in the day.

I still don't get what Viterlan Butlerick has actually ever programed or practically done apart from the Bitcoin Magazine.

no one has ever answered me on this.

no offense to him, but it seems to be emperors new clothes ... he's really smart said by everyone that speaks of him .... but what in code has he done?

sidhujag

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Quote from: iamnotback on June 17, 2016, 02:00:52 PM

Quote from: ?? on ??

Maybe it is just all PR

The craziest conspiracy theory is the whales did this on purpose not just to profit by shorting and repurchasing cheaper, but also to create a massive amount of promotion for The DAO.

The any promotion is good promotion school of marketing.

$50 ETH here we come? (note it could also crash to $1 so please don't think I am offering any advice)

The child DAO releases coins same day as btc halvening too I think... def timed accordingly. It also created reverse head and shoulders on the daily... so all short/medium bear targets were met and bullish targets remain intact. This would make sense.

iamnotback

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Quote from: ?? on ??

Maybe it is just all PR

The craziest conspiracy theory is the whales did this on purpose not just to profit by shorting and repurchasing cheaper, but also to create a massive amount of promotion for The DAO.

The any promotion is good promotion school of marketing.

$50 ETH here we come? (note it could also crash to $1 so please don't think I am offering any advice)

Normally it is best to buy when there is "blood in the streets". Ethereum isn't likely dead. So far, CC is a delusion of decentralization any way.

sidhujag

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Quote from: BitUsher on June 17, 2016, 01:57:08 PM

Quote from: sidhujag on June 17, 2016, 01:53:20 PM

Quote from: smooth on June 17, 2016, 01:12:43 PM

Quote from: ?? on ??

Selfhack like all scammers do.

Not ruling it out, but that makes the hardfork proposal a bit strange.

Possibilities include:

1. Selfhack, but for market manipulation purposes, not to steal the coins.

2. Selfhack, but got cold feet.

3. Social engineering/misdirection of the form where they propose a reversal hardfork knowing it won't happen.

this. The attacker must have known about the 27 day window and would know that the community would nill out the transaction. So therefor it was an attempt at manipulating the market down to levels where he and his friends would buy.

Nope, this is unlikely as the resulting news and HF would likely permanently damage DAO and ETH so the attacker more likely chose to profit from shorting ETH or did it out or spite or for the LOL's.

There is also a good chance that the HF never is activated because the community is divided over this dangerous proposition so he may end up with the ETHs anyways.

Yea probably shorting it aswell... im sure the person who was on it was on polo (the biggest exchange for eth) probably setting up his margin orders before the start of the attack. I wonder if the exchange can somehow find out who created big margin orders around that time although you wont be able to prove it :S

BitUsher

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Quote from: sidhujag on June 17, 2016, 01:53:20 PM

Quote from: smooth on June 17, 2016, 01:12:43 PM

Quote from: ?? on ??

Selfhack like all scammers do.

Not ruling it out, but that makes the hardfork proposal a bit strange.

Possibilities include:

1. Selfhack, but for market manipulation purposes, not to steal the coins.

2. Selfhack, but got cold feet.

3. Social engineering/misdirection of the form where they propose a reversal hardfork knowing it won't happen.

this. The attacker must have known about the 27 day window and would know that the community would nill out the transaction. So therefor it was an attempt at manipulating the market down to levels where he and his friends would buy.

Nope, this is unlikely as the resulting news and HF would likely permanently damage DAO and ETH so the attacker more likely chose to profit from shorting ETH or did it out or spite or for the LOL's.

There is also a good chance that the HF never is activated because the community is divided over this dangerous proposition so he may end up with the ETHs anyways.

bugsywugsy

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Well one thing is for sure, the FUD spread like wildfire and definitely seemed at least partially orchestrated. Eth was dropping so fast I couldn't even put in a margin order before it was down a few more points.

sidhujag

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Quote from: smooth on June 17, 2016, 01:12:43 PM

Quote from: ?? on ??

Selfhack like all scammers do.

Not ruling it out, but that makes the hardfork proposal a bit strange.

Possibilities include:

1. Selfhack, but for market manipulation purposes, not to steal the coins.

2. Selfhack, but got cold feet.

3. Social engineering/misdirection of the form where they propose a reversal hardfork knowing it won't happen.

this. The attacker must have known about the 27 day window and would know that the community would nill out the transaction. So therefor it was an attempt at manipulating the market down to levels where he and his friends would buy.

smooth

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Quote from: ?? on ??

Quote from: smooth on June 17, 2016, 01:46:12 PM

Quote from: Biodom on June 17, 2016, 01:43:18 PM

history does not repeat itself, but it rhymes.

Bitcoin;

2010 (about a year after start)-similar episode with Bitcoin where 184 billion bitcoins were created in a few transactions, then these transactions were erased and bitcoin forked.

2014-Mt Gox

Ethereum:

2016 DAO fiasco (equivalent to 2010 bitcoin episode)

2017-2020 probably an exchange failure (my guess it could the one that rhymes with Kleenex or some other)

I still don't even agree that the Bitcoin 184 billion bug was equivalent to the DAO. No bug has been identified in Ethereum. It is executing the DAO smart contract code correctly, afaik.

A bug in Ethereum itself would be more analogous.

Maybe it is just all PR and the exploit is on Ethereum side ? hence the Rollback.

Interesting theory. I doubt they would be able to hide that for long though.

Peter Todd thinks the fact that Ethereum developers are likely heavily invested in the DAO might be relevant:

Quote from: https://twitter.com/petertoddbtc/status/743763172599824384

I think that's a terrible precedent, esp. from devs who have lost money.

Goxxed BTC devs didn't ask for a bailout.

smooth

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Quote from: Biodom on June 17, 2016, 01:16:28 PM

To me, it means, basically, that NO smart contract is worth investing in, since there is ALWAYS will be someone smarter to steal it.

Agree with you there. Maybe if they could be made much simpler and less error prone, but in their current form, not a good idea.

smooth

legendary

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Quote from: Biodom on June 17, 2016, 01:43:18 PM

history does not repeat itself, but it rhymes.

Bitcoin;

2010 (about a year after start)-similar episode with Bitcoin where 184 billion bitcoins were created in a few transactions, then these transactions were erased and bitcoin forked.

2014-Mt Gox

Ethereum:

2016 DAO fiasco (equivalent to 2010 bitcoin episode)

2017-2020 probably an exchange failure (my guess it could the one that rhymes with Kleenex or some other)

I still don't even agree that the Bitcoin 184 billion bug was equivalent to the DAO. No bug has been identified in Ethereum. It is executing the DAO smart contract code correctly, afaik.

A bug in Ethereum itself would be more analogous.

Biodom

legendary

Activity: 3738

Merit: 3848

history does not repeat itself, but it rhymes.

Bitcoin;

2010 (about a year after start)-similar episode with Bitcoin where 184 billion bitcoins were created in a few transactions, then these transactions were erased and bitcoin forked.

2014-Mt Gox

Ethereum:

2016 DAO fiasco (equivalent to 2010 bitcoin episode)

2017-2020 probably an exchange failure (my guess it could the one that rhymes with Kleenex or some other)

RealBitcoin

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JAYCE DESIGNS - http://bit.ly/1tmgIwK

Quote from: BitUsher on June 17, 2016, 01:18:22 PM

Since the legitimately transferred coins are being auto locked in by a Child DAO for almost a month as designed why is he telling exchanges to freeze trading and deposits? Such a comment is outrageous to make in this context.

Oh shit, it gets worse , these guys are literally insane.

It is essentially 100% capital controls. The things we just ought to avoid in cryptocurrencies, ETH has just crossed the line!

https://bitcointalksearch.org/topic/eth-game-over-1516058

BitUsher

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Quote from: yelllowsin on June 17, 2016, 01:15:43 PM

Do you actually are taking part on the thieves on this quote aren't you? Do you feel any better doing it politely than saying "fuck you" to Dao investors?

Research into the concept of "Moral Hazard":
https://www.youtube.com/watch?v=BhL1Y1lg35w&feature=youtu.be&t=28m45s

Additionally, the "Hacker" didn't steal anything as the whole purpose of Smart Contracts is the CODE IS THE LAW!

crairezx20

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Or how you sure they already fix it? I think they is like the same as other altcoin they are announcing that they are hack but the truth is not they are just saying that so that they can run your money..

Topic: There was no DAO hack - page 8. (Read 11602 times)