Should Vitalik bail out the DAO?

Stark_Naked
Stark_Naked

Should Vitalik bail out the DAO?

All urls found in this thread:
https://www.reddit.com/r/ethereum/comments/4ot3z8/dao_is_under_attack_again/
http://pastebin.com/sF2CqBJH
Crazy_Nice
Crazy_Nice

let the hacker keep his money.. he obtained it legitly.

Vitalk should have some balls like Nakamoto

iluvmen
iluvmen

@Stark_Naked
if they do that people will lose all faith

Playboyize
Playboyize

@Crazy_Nice
if they do that people will lose all faith in the dao

meh smar contracs

Gigastrength
Gigastrength

@iluvmen
If they hard fork and bail out the dao, a lot of people will get their ETH back and flood the market and the price will go down.

if they don't, then those who lost money in the DAO will forever blame ETH instead of their own poor decisions and it will take a long time to regain trust.

It's a lose lose. Personally i'd rather see people get back their ETH now so this thing can keep making me money long term.

Methshot
Methshot

@Playboyize
better DAO falling than ETH

Snarelure
Snarelure

@Playboyize
people will lose faith in the concept of the dao if one dude can just arbitrarily rewrite the rules and change history whenever he feels like it is just.

my opinion: faulty dao code -> lesson learned -> next time be smarter

askme
askme

@Stark_Naked
this is changing the law after an event, which isnt how law works

Inmate
Inmate

mfw it got hacked again

hairygrape
hairygrape

@Inmate
wait what?

Gigastrength
Gigastrength

@hairygrape
https://www.reddit.com/r/ethereum/comments/4ot3z8/dao_is_under_attack_again/

DeathDog
DeathDog

It's just beta guys the rules weren't set yet /s

(What Vitalik is saying)

JunkTop
JunkTop

not understanding the majority of trade volume for all coins is done through the chinese yuan

you fuckers are retarded

takes2long
takes2long

Before:
Smart contracts are the future! Fuck these central bankers! You noobs are living in the stone age! We don't need centralized authorities! The code is the only law we need!
After:
We need our centralized authority to roll back or blacklist an address!

top lel
eth is dead

Garbage Can Lid
Garbage Can Lid

There won't be a fork because it's a stupid idea being promoted by an emotional minority of the Ethereum network who lost money.

I think the Ethdev team only proposed it so they would look sympathetic and so people wouldn't flip out and hunt them down in real life. (Somebody will probably do that anyway)

MPmaster
MPmaster

@takes2long
You bitcoiners are mad as fuck. Can't wait 'til BTC dies after the halving.

5mileys
5mileys

@takes2long
This.
Next time you loose money on the stockmarket please call the nyse to tell them to rewind the order book. TOP LEL

Skullbone
Skullbone

if they close the DAO and refund in ETH, then maybe an investor will only get back 60% of their investment (150mil - 50mil, so c.100mil to return), but then i think its just a job of holding ETH for the long term, writing it off for a year or more until the price rises enough to recoup your initial investment. Once ETH gets above $30 (if ever), you've more or less broken even. You'd be foolish to take a huge loss on this, in my opinion, better to risk it all on a long term payback.

StonedTime
StonedTime

@5mileys
Next time the NYSE is hacked, lets just let the hacker keep the money.

FastChef
FastChef

@Playboyize
Fuck the dao.

Eth foundation shouldn't juggle two big projects like that, especially since both are largely relatable and in beta (essentially).

Let something like lisk or waves grow and do their thing, fuck the dao.

Spamalot
Spamalot

@StonedTime
The correct analogy would be that a publicly traded company took investments but also had a loophole in their company policy that allowed somebody to withdraw all of the company's money legally.

lostmypassword
lostmypassword

@Spamalot
Zactly! +1

Following this analogy, I think it would be stupid to fork the entire American dollar to stop the thief.

People got screwed putting money into a company that they thought was legit. This was a total scam from the beginning.

Money has been lost. Learn from it and go on with life.

Poker_Star
Poker_Star

@iluvmen
not they won't you stupid /zerohedge/ pleb

ETH needs to be bailed out in order to attract mainstream investment

Methnerd
Methnerd

Let's not forget that ETH and the DAO are BETA PRODUCTS. It would be IRRESPONSIBLE for them not to provide the ability for a complete refund because otherwise people will lose all faith in smart contracts and it will KILL ETH.

This will be a ONE TIME DEAL because so much money was invested into it, it was the first DAO and it is slightly associated with the developers.

There WILL be a fork and ETH will NOT fail, you nocoiners are just going to have to deal with it.

Carnalpleasure
Carnalpleasure

@Methnerd
crypto community before the DAO scandal
decentralized!
no one man can affect its price!
there is no oversight! its the wild west!
if you can't handle the heat stay out of the fire!

crypto community after the DAO scandal
THE DAO IS TOO BIG TO FAIL!
THE FED NEEDS TO BAIL IT OUT!

Snarelure
Snarelure

@lostmypassword
Spirit of the law vs letter of the law. Not so simple.

Emberburn
Emberburn

@Spamalot
Yep. But a company=moral person governed by physical persons. Muh dezentralized=If shit hits the fan, no one is responsible (or everybody involved, which is the same)

RavySnake
RavySnake

@Poker_Star
needs to be bailed
not when it defeats the purpose

TurtleCat
TurtleCat

@Carnalpleasure
kek this!

CouchChiller
CouchChiller

@Methnerd
What really happened was that idiots put many millions into something they:
-didnt understand
-didnt do due dilligence for
-hoped to get rich quickly with
-had to put trust in a few no names with no credentials to speak of for

BTW im nor a nocoiner at all, but the DAO I skipped and ETH is way overvalued and overhyped. The DAO shows exactly the idiocy of muh Turing complete blockchain. Backbone systems are highly constrained for a reason and big companies/banks work with trusted and time tested institutions for a readon as well.

FastChef
FastChef

@Snarelure
The whole point of Ethereum was to be immune from kikery like "spirit of the law".

WebTool
WebTool

@FastChef
DAO, not Ethereum. Blaming Ethereum for the hack is like blaming Java that your "enterprise" banking software got hacked. At the end of the day - human actors are at play and people will vote by consensus on how they want the hack resolved. It may be that fully automatic contracts is not what people actually want after all. Its a radical experiment.

Ignoramus
Ignoramus

@WebTool
You're either replying to the wrong person or have poor reading comprehension.

Dreamworx
Dreamworx

When the attacker drops his accomplices and Vitalik is the main suspect who has profited shit will hit the fan

http://pastebin.com/sF2CqBJH

Sir_Gallonhead
Sir_Gallonhead

@CouchChiller

This will always be the issue with crypto but thankfully bitcoin should be the exception as it becomes more integrated into society

5mileys
5mileys

@Dreamworx

lol'd at the scamaz

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