The DAO FAIL

[gogodr]

I think that the attacker can be sued, but that doesn't matter. DAO got hurt in a way that I didn't expected, thought I pointed out that it has too many flaws.

Sued by who?

A bunch of line of code cant sue anyone!

[1714969339]

1714969339

[CryR]

ROLF Signed message from the ethereum "hacker" http://pastebin.com/CcGUBgDG Eth = best scam ever

[ATA Group]

I think that the attacker can be sued, but that doesn't matter. DAO got hurt in a way that I didn't expected, thought I pointed out that it has too many flaws.

for what?

[spartak_t]

I think that the attacker can be sued, but that doesn't matter. DAO got hurt in a way that I didn't expected, thought I pointed out that it has too many flaws.

Sued by who?

A bunch of line of code cant sue anyone!

We are talking about vast amount of money and they will definitely try to do something (for example, hard fork). I'm not sure if they can really sue him, but time will tell.

ROLF Signed message from the ethereum "hacker" http://pastebin.com/CcGUBgDG Eth = best scam ever

Yeah, I saw it earlier today...

[ATA Group]

I think that the attacker can be sued, but that doesn't matter. DAO got hurt in a way that I didn't expected, thought I pointed out that it has too many flaws.

Sued by who?

A bunch of line of code cant sue anyone!

We are talking about vast amount of money and they will definitely try to do something (for example, hard fork). I'm not sure if they can really sue him, but time will tell.

He did absolutely nothing wrong!
Everything was according to the rules.

[vincentvincent]

WAIT! LET ME GRAB SOME POPCORN FIRST!

[spartak_t]

He did absolutely nothing wrong!
Everything was according to the rules.

But what if they decide to make a hard fork in order to return the "stolen" funds? Can the "attacker" sue them for taking what he rightfully claimed?

[LoyceV]

So its true. The dao did fail and is closing down.

http://www.coindesk.com/the-dao-is-closing-down/

I've only been following the dao a tiny bit, but do I get this right: Ethereum offers smart contracts, but there is no IRL application yet. So they made the dao, based on a smart contract, as the first one, with the single goal to fund other smart contracts. And since so many people are speculating hoping it will work, they threw millions of real dollars into this.
Now the first big smart contract turns out to be flawed, money disappears, and they're willing to block the stolen money therefore blocking the funds from within the chain, which takes away all trust in Ethereum being autonomous?

[Buratino]

DAO now is DOA, dead or alive.

[hv_]

DAO now is DOA, dead or alive.

Yes, its gone binary....

[spartak_t]

DAO now is DOA, dead or alive.

More like Dead On Arrival...

[hv_]

DAO now is DOA, dead or alive.

More like Dead On Arrival...

Dump All Out

[alyssa85]

I think that the attacker can be sued, but that doesn't matter. DAO got hurt in a way that I didn't expected, thought I pointed out that it has too many flaws.

Sued by who?

A bunch of line of code cant sue anyone!

We are talking about vast amount of money and they will definitely try to do something (for example, hard fork). I'm not sure if they can really sue him, but time will tell.

He did absolutely nothing wrong!
Everything was according to the rules.

It depends on whether he gets sued in a jurisdiction that goes with "the spirit of the contract" or "the letter of the contract". Lots of countries (like the UK) use "the spirit of the law" to protect against the need for legislators to foresee every possible scam permutation and write protections for each one into law.

[LoyceV]

It depends on whether he gets sued in a jurisdiction that goes with "the spirit of the contract" or "the letter of the contract".

That doesn't work for smart contracts: the whole spirit of the contract is to follow the letter of the contract. No exceptions.

[iamnotback]

This is what I meant about it is a good thing for The DAO FAIL:

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.

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.

Ditto when I got my ass burned for selling $600 of BTC on Paypal.

[x13]

Wow, what a big step! Does anyone knows whether the investments into DOA are dead, too? Or is it possible to exchange them for Ether in any way. I have only got a small stake, so loss is not big but I am wondering if I still could liquidate them.

So its true. The dao did fail and is closing down.

http://www.coindesk.com/the-dao-is-closing-down/

[bones261]

Wow, what a big step! Does anyone knows whether the investments into DOA are dead, too? Or is it possible to exchange them for Ether in any way. I have only got a small stake, so loss is not big but I am wondering if I still could liquidate them.

You can go to their blog to find the options. None of them are good.
https://blog.daohub.org/the-next-steps-786323e6fac9#.n8b9ecru6

[Tacalt]

It depends on whether he gets sued in a jurisdiction that goes with "the spirit of the contract" or "the letter of the contract".

That doesn't work for smart contracts: the whole spirit of the contract is to follow the letter of the contract. No exceptions.

The present theft is committed by exploiting a flaw in the coding. Is that also a letter of the contract?

[luisb]

https://i.imgflip.com/161hkw.jpgvia Imgflip Meme Generator  https://i.imgflip.com/161hi8.jpgvia Imgflip Meme Generator

[iqlimasyadiqa]

Very shocking news of course. DAO previously been phenomenal with the financial strength that he had. because a hacker attack problems that take up most of their money this time DAO fall. they are too much to lose and DAO will be difficult to grow back.