Bitcoin Forum

what's wrong with the Dao and the ETH,today?who can give me a url, I want to know why the price is down quickly??

I cannot believe you are unable to read all the anti-eth threads popping up today.

But "What's wrong with ETH" is actually a good question.

According to the Ethereum devs, the "DAO code" is the culprit. But that may not be the whole truth.

At a first glance, the culprit could also be the turing-complete smart contract language. Turing complete languages give attackers the possibility to write malware like viruses or trojans. If I understand right, we may be in presence of the first "descentralized malware" written on a cryptocurrency platform.

That may be a major problem for Ethereum, because their "unique selling point" is actually the turing complete smart contract platform. Now it's obvious that their language can be used to code all kinds of scams. Other non-turing-complete smart contract platforms like Qora or Bitshares (and Bitcoin itself) have not seen these kinds of attacks. So they may be more limited, but superior in terms of security, to Ethereum.

It died ..game over.. it was hacked for MILLIONS !

HAHAHAHHAHAH

Better dump & run ASAP Investards HAHAHAHHAHA

Whats wrong with the dao and eth today?

Whats wrong with the dao and eth tomorrow?

None of you really care and it HAS been pointed out already.

Go spend your lunch money on techno babble, this amuses me. Lol

post on my poll  thread haters and lovers are welcome

Looks like this is true many people right now are telling that ethereum are scam. do you have a source where did you get the real news?

Why are there so many garbage responses in this forum?

In brief, hacker(s) took advantage of a known flaw in the code of The DAO to suck Ether out of it (3.6 million at the last I heard). But that money is now in a locked state where it can't be accessed for 27 days. This gives the Ethereum community a chance to address the issue. But there is a huge debate over how to respond. Leading proposals are:

1. Do nothing. Let the thief win as a warning (caveat emptor) to cryptocurrency investors. Probably not the most popular option, but it is being voiced.
2. Burn the coins or otherwise lock them up permanently. Probably a better idea than #1 - the thief loses, but so do the investors in The DAO.
3. Do a hard fork to restore the funds to a pre-theft status. The DAO investors get their Ether back. Thief loses. But people start to expect that someone will step in and save them if other hacks occur in the future.

The debate won't be resolved easily as there are very good points on either side. Vitalik Buterin has said as much himself. The saving grace here is the 27 day hold that allows the community to think things through and come to some kind of consensus, as much as can be managed.

It's not a scam per se, a lot of folks are just having a "I told you so" moment right now. The dao had an exploit that allowed a large amount of value to be stolen from the devs I guess? Anyway, money has been stolen, because if a flaw in the dao code. The devs have asked exchanges to freeze, and are proposing some combination of hard and soft forkage to prevent the stolen value from moving. Eth is kinda taking a beating by association.