Post
Topic
Board Altcoin Discussion
Re: The DAO FAIL
by
gustav
on 10/06/2016, 12:44:19 UTC
I don't consider DAO as fail, give it few more months it will surely come back stronger and better after all known issues have been fixed.

You can't fix humans. Even if all technicals were resolved (which they won't be) you still have the errors and loopholes in the democratic process. It takes a few people and a good understanding about the inherent weaknesses of majority-votes to let a small group of knowing people steer this to their liking. Most people lack basic knowledge about democracy to understand it's failing either way.
You just don't consider it a fail because you don't have all relevant info.
Sorrry, i don't have time to discuss democratic weaknesses and exploits in all depth currently but the dao is cerrtainly open to more attacks than one could count. There are so many angles from which to attack this, it's totally incredible.
People throwing such huge money at it shows how massive the amount of stupid money in crypto really is. Boggles the mind.