Post
Topic
Board Altcoin Discussion
Re: DAO will be shutting down, confirmed
by
iamnotback
on 17/06/2016, 22:33:00 UTC
Stephan Tual, one of the creators of the DAO, stated on the DAO slack channel:

“The DAO will be winded down completely and transformed into a simple contract where you can only withdraw. It’s shutting down but as no ether was stolen and no ether was spent, nothing was lost.”

Nothing lost at all , besides the credibility of the developers , and of the project in general , and also the large drop off in value....

... and the future value due to loss of credibility , but other than those things , nothing at all lost.

And the huge liquidity pump which maybe enabled some insiders to cash out.

And possibly someone with prior knowledge of the coming fiasco made a lot of money shorting, so if so then isn't true that no ETH was "stolen".

Looks like the "hacker" was already paid with 3k BTC (2.2million in USD) shorts on ethereum before he used the DAO (as it was correctly designed.)

https://twitter.com/EthereumWiki/status/743905989682855936

Think about this for a moment . Now a precedent has been set for these weak turing complete blockchains- ETH and any future DAO , that incentivizes hackers to attack and exploit weak code regardless of HF freezing and reversing Txs. Expect more attacks in the future!

But it is all fair and square. This is the game. Know the rules (or lack thereof) before you play.