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by abstrct 2014 days ago
I'll preface the following by saying I fundamentally disagreed with rolling back the DAO as the entire purpose of these networks is immutability and their trustless nature.

The reasons for it, even on their own, all make a lot of sense:

- Ethereum has always wanted to move to Proof of Stake, a move that would have been impossible if 25% of the networks funds were suddenly in the hands of a nefarious actor.

- The DAO was intended to seed development into projects that would benefit ethereum and the blockchain space as a whole. It was an incredible amount of capital that was all intended to help evolve the network. Losing all this capital and momentum would have been detrimental to that goal.

- The DAO was arguably an unlicensed security and losing the funds of that many investors would have been a problem for many who had a hand in building it. By returning investments, they basically made this a non-issue.

So again, do I agree with the choice? Absolutely not, you should not proclaim "code is law!" until it's inconvenient for you. Did they have a choice? No, the roll-back was inevitable as soon as the DAO contract was deployed.