Quote from: Jacques21 on June 17, 2016, 12:04:33 PM

The only valid use case for the DAO so far has been to steal shitloads of ETH

I just wrote about that:

Quote from: iamnotback on June 17, 2016, 01:09:22 PM

Quote from: misterbigg on June 17, 2016, 12:08:36 PM

Quote from: iamnotback on June 17, 2016, 12:05:52 PM

So the hard fork to recover the ETH means Ethereum is not decentralized. It is a top-down controlled fiat system.

I don't know if "top-down controlled" is the right description, its more like a democracy where the majority can vote to strip the minority of its rights.

Democracy is a top-down structure because it is a winner-take-all power vacuum.

But I see a very valid use case to raise money for and remove regulation from raising investment money for ventures. And giving decentralized oversight to investors replacing the function of a Board of Directors.

Note I had predicted yesterday this disaster:

Quote from: iamnotback on June 17, 2016, 01:47:18 AM

Btw I agree that there haven't been really serious achievements from altcoins. Ethereum is an unfinished and highly unpolished work, that doesn't yet have a killer app. The DAO is an unmitigated disaster in the making.