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Title: "The DAO" and how I got to appreciate its outcome. Post by: Cuckold on June 18, 2016, 01:15:04 PM I have been a fan of Ethereum from a little earlier in this year. I was thoroughly amazed by the smart contract technology and infrastructure for DAOs. I put a significant sum of money I had saved up in ethereum when the price was around 14$/ETH. I watched it go up and down daily but never sold. When "The DAO" came out, at first I was skeptical, but the community's approach changed my mind. Everyone was saying that it was a no-risk investment so I put all my ETH in it and to be honest I still haven't pulled out. After finding out that it was attacked, I didn't know how to act. I saw the DAO/ETH trading price falling well below 1 ETH/100 DAO tokens (which was the price I bought in). I could have sold my tokens in panic in an attempt to minimize losses then but I'd still have lost around 40% of my principal, so I just waited to see if there would be better options. DAO tokens still trade well below their presale price and the notion of a hard fork to fix this keeps seeming more and more distant as per Vitalik Butterin's words (https://www.reddit.com/r/ethereum/comments/4oj7ql/personal_statement_regarding_the_fork/).
Through time though, I got in terms with the idea that I'm probably going to lose everything; I even got to like it. Fueling a financial revolution ain't easy, just think of how many bitcoiners have lost money to date. We're all just doing our part on bringing society closer to a bank-free future. |