I still struggle with how the DAO can even claim it is a problem, as the DAO terms expressly say the code supercedes the description / intent.
https://daohub.org/explainer.html
So I guess future DAO will need to have a disclaimer that there are situations where the code doesn't control, and therefore you have to look to intent... Which basically means opening the same can of worms lawyers and courts have been dealing with for ages, but "smart contracts" were supposed to avoid.
It would be hilarious if the "hacker" sued the DAO for breach of contract if the "stolen" funds are returned!
Quote
The terms of The DAO Creation are set forth in the smart contract code existing on the Ethereum blockchain at 0xbb9bc244d798123fde783fcc1c72d3bb8c189413. Nothing in this explanation of terms or in any other document or communication may modify or add any additional obligations or guarantees beyond those set forth in The DAOs code. Any and all explanatory terms or descriptions are merely offered for educational purposes and do not supercede or modify the express terms of The DAOs code set forth on the blockchain; to the extent you believe there to be any conflict or discrepancy between the descriptions offered here and the functionality of The DAOs code at 0xbb9bc244d798123fde783fcc1c72d3bb8c189413, The DAOs code controls and sets forth all terms of The DAO Creation.
https://daohub.org/explainer.html
So I guess future DAO will need to have a disclaimer that there are situations where the code doesn't control, and therefore you have to look to intent... Which basically means opening the same can of worms lawyers and courts have been dealing with for ages, but "smart contracts" were supposed to avoid.
It would be hilarious if the "hacker" sued the DAO for breach of contract if the "stolen" funds are returned!
You've hit logical bedrock following up on my bit of initial conceptual drilling.
Since XMR intends to implement smart contracts, we may learn something from this DAO/ETH/POLO SNAFU
ETH/DAO were marketed to investors using the USP "The Code is the Law; The transaction is the settlement; Moral hazard has no power here."
The last 24 hours have destroyed that conceit.
Now we will roll our eyes when we hear happy talk about permissionless leaderless decentralization.
Here is the point at which that dream died:
Quote
[3:41:38 AM] George Hallam [ETH] : ALL EXCHANGES: please pause ether trading as soon as possible
[3:41:56 AM] Jesse: why pause trading?
[3:41:59 AM] Aurélien MENANT: done :p
[3:42:56 AM] Tristan D'Agosta: That's a pretty serious measure, is the stolen ETH moving?
[3:42:57 AM] Alex Hanin: Can you please elaborate on this pause?
[3:42:58 AM] dino: ALL EXCHANGES EMERGENCY PAUSE TRADING RIGHT NOW
[3:43:01 AM] Vitalik Buterin: ok can you guys stop trading
[3:43:05 AM] Tristan D'Agosta: Okay
[3:43:10 AM] Bill Shihara: Stopping the trading will stop the hacker from liquidating. but that may be penalizing legit traders significantly
[3:43:11 AM] Vitalik Buterin: and deposits and withdrawals
[3:43:18 AM] dino: ALL EXCHANGES STOP WITHDRAWALS RIGHT NOW EMERGENCY
[3:43:25 AM] Tristan D'Agosta: Okay, not trading then...
[3:41:56 AM] Jesse: why pause trading?
[3:41:59 AM] Aurélien MENANT: done :p
[3:42:56 AM] Tristan D'Agosta: That's a pretty serious measure, is the stolen ETH moving?
[3:42:57 AM] Alex Hanin: Can you please elaborate on this pause?
[3:42:58 AM] dino: ALL EXCHANGES EMERGENCY PAUSE TRADING RIGHT NOW
[3:43:01 AM] Vitalik Buterin: ok can you guys stop trading
[3:43:05 AM] Tristan D'Agosta: Okay
[3:43:10 AM] Bill Shihara: Stopping the trading will stop the hacker from liquidating. but that may be penalizing legit traders significantly
[3:43:11 AM] Vitalik Buterin: and deposits and withdrawals
[3:43:18 AM] dino: ALL EXCHANGES STOP WITHDRAWALS RIGHT NOW EMERGENCY
[3:43:25 AM] Tristan D'Agosta: Okay, not trading then...
http://pastebin.com/aMKwQcHR
Question for XMR core devs:
Under what (if any) circumstances would you request (or like VB forcefully demand under threat of rollback) a halt to XMR activity on exchanges?
fluffypony must be enjoying this schadenfreude at VB's expense!