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by kej 3303 days ago
Your whole argument is predicated on the idea that what happened with the DAO was "theft".

All the publicity for the DAO explicitly said that the code was the full specification of the contract even if it disagreed with any other statements, and the code allowed someone to transfer the funds to their own child DAO. What crime, exactly, are you accusing them of committing when everyone agreed to a contract that allowed them to do what they did? How do I know using another contract won't be labeled theft and rolled back?

> Most of the market agrees with this decision.

This is exactly the problem. Ethereum would have been interesting if it could enforce unpopular decisions because they're specified in the code and them's the rules. Instead it will enforce them as long as there's not too much public outcry. No thanks.

2 comments

> Your whole argument is predicated on the idea that what happened with the DAO was "theft".

So did the Ethereum Devs, who owned a bulk of coin from the initial auction. And they just so happened to also control development of the protocol AND the client programs. This was the message they "asked" users... https://upload.wikimedia.org/wikipedia/commons/thumb/d/d7/Et...

"....IN WHICH FUNDS RELATED TO THE EXPLOIT ARE RESTORED...."

Consensus is nice, especially when you can manufacture it. Noam Chomsky talks about this in great detail. https://www.youtube.com/watch?v=tTBWfkE7BXU

Chomsky: "The first place to look is, who's in a position to make the decisions that determines the way a society functions."

Your two points:

> What crime, exactly, are you accusing them of committing when everyone agreed to a contract that allowed them to do what they did?

And

> How do I know using another contract won't be labeled theft and rolled back?

What the DAO hack revealed is the following fact, which I learned over the past year:

That there are two kinds of cryptocurrency holders, one group demands immutability at any cost, the other group demands 'reasonable immutability'.

The reason why ETH/ETC split was 90/10 because majority of the Ethereum holders fall in the second group, and majority of the people who fall in the first group holding nothing but bitcoins.