what's wrong with the Dao and the ETH,today?

GreenBits

legendary

Activity: 1148

Merit: 1048

Quote from: socks435 on June 17, 2016, 12:13:07 PM

Quote from: ?? on ??

The FBI found out that ETH is a scam.. the devs are trying to run with your money

Looks like this is true many people right now are telling that ethereum are scam. do you have a source where did you get the real news?

It's not a scam per se, a lot of folks are just having a "I told you so" moment right now. The dao had an exploit that allowed a large amount of value to be stolen from the devs I guess? Anyway, money has been stolen, because if a flaw in the dao code. The devs have asked exchanges to freeze, and are proposing some combination of hard and soft forkage to prevent the stolen value from moving. Eth is kinda taking a beating by association.

ebliever

legendary

Activity: 1708

Merit: 1036

Why are there so many garbage responses in this forum?

In brief, hacker(s) took advantage of a known flaw in the code of The DAO to suck Ether out of it (3.6 million at the last I heard). But that money is now in a locked state where it can't be accessed for 27 days. This gives the Ethereum community a chance to address the issue. But there is a huge debate over how to respond. Leading proposals are:

1. Do nothing. Let the thief win as a warning (caveat emptor) to cryptocurrency investors. Probably not the most popular option, but it is being voiced.
2. Burn the coins or otherwise lock them up permanently. Probably a better idea than #1 - the thief loses, but so do the investors in The DAO.
3. Do a hard fork to restore the funds to a pre-theft status. The DAO investors get their Ether back. Thief loses. But people start to expect that someone will step in and save them if other hacks occur in the future.

The debate won't be resolved easily as there are very good points on either side. Vitalik Buterin has said as much himself. The saving grace here is the 27 day hold that allows the community to think things through and come to some kind of consensus, as much as can be managed.

socks435

legendary

Activity: 2044

Merit: 1030

I'm looking for free spin.

Quote from: ?? on ??

The FBI found out that ETH is a scam.. the devs are trying to run with your money

Looks like this is true many people right now are telling that ethereum are scam. do you have a source where did you get the real news?

philipma1957

legendary

Activity: 4256

Merit: 8551

'The right to privacy matters'

post on my poll thread haters and lovers are welcome

crypto jerk

full member

Activity: 236

Merit: 100

Whats wrong with the dao and eth today?

Whats wrong with the dao and eth tomorrow?

None of you really care and it HAS been pointed out already.

Go spend your lunch money on techno babble, this amuses me. Lol

Spoetnik

legendary

Activity: 1540

Merit: 1011

FUD Philanthropist™

It died ..game over.. it was hacked for MILLIONS !

HAHAHAHHAHAH

Better dump & run ASAP Investards HAHAHAHHAHA

d5000

legendary

Activity: 3906

Merit: 6249

Decentralization Maximalist

I cannot believe you are unable to read all the anti-eth threads popping up today.

But "What's wrong with ETH" is actually a good question.

According to the Ethereum devs, the "DAO code" is the culprit. But that may not be the whole truth.

At a first glance, the culprit could also be the turing-complete smart contract language. Turing complete languages give attackers the possibility to write malware like viruses or trojans. If I understand right, we may be in presence of the first "descentralized malware" written on a cryptocurrency platform.

That may be a major problem for Ethereum, because their "unique selling point" is actually the turing complete smart contract platform. Now it's obvious that their language can be used to code all kinds of scams. Other non-turing-complete smart contract platforms like Qora or Bitshares (and Bitcoin itself) have not seen these kinds of attacks. So they may be more limited, but superior in terms of security, to Ethereum.

baomuydtab34261

full member

Activity: 122

Merit: 100

what's wrong with the Dao and the ETH,today?who can give me a url, I want to know why the price is down quickly??

Topic: what's wrong with the Dao and the ETH,today? (Read 535 times)