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Author Topic: There was no DAO hack  (Read 11600 times)
sidhujag
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June 17, 2016, 05:53:20 PM
 #21

Selfhack like all scammers do.

Not ruling it out, but that makes the hardfork proposal a bit strange.

Possibilities include:

1. Selfhack, but for market manipulation purposes, not to steal the coins.

2. Selfhack, but got cold feet.

3. Social engineering/misdirection of the form where they propose a reversal hardfork knowing it won't happen.


this. The attacker must have known about the 27 day window and would know that the community would nill out the transaction. So therefor it was an attempt at manipulating the market down to levels where he and his friends would buy.
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June 17, 2016, 05:55:29 PM
 #22

Well one thing is for sure, the FUD spread like wildfire and definitely seemed at least partially orchestrated. Eth was dropping so fast I couldn't even put in a margin order before it was down a few more points.

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June 17, 2016, 05:57:08 PM
 #23

Selfhack like all scammers do.

Not ruling it out, but that makes the hardfork proposal a bit strange.

Possibilities include:

1. Selfhack, but for market manipulation purposes, not to steal the coins.

2. Selfhack, but got cold feet.

3. Social engineering/misdirection of the form where they propose a reversal hardfork knowing it won't happen.


this. The attacker must have known about the 27 day window and would know that the community would nill out the transaction. So therefor it was an attempt at manipulating the market down to levels where he and his friends would buy.

Nope, this is unlikely as the resulting news and HF would likely permanently damage DAO and ETH so the attacker more likely chose to profit from shorting ETH or did it out or spite or for the LOL's.

There is also a good chance that the HF never is activated because the community is divided over this dangerous proposition so he may end up with the ETHs anyways.

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June 17, 2016, 05:59:45 PM
 #24

Selfhack like all scammers do.

Not ruling it out, but that makes the hardfork proposal a bit strange.

Possibilities include:

1. Selfhack, but for market manipulation purposes, not to steal the coins.

2. Selfhack, but got cold feet.

3. Social engineering/misdirection of the form where they propose a reversal hardfork knowing it won't happen.


this. The attacker must have known about the 27 day window and would know that the community would nill out the transaction. So therefor it was an attempt at manipulating the market down to levels where he and his friends would buy.

Nope, this is unlikely as the resulting news and HF would likely permanently damage DAO and ETH so the attacker more likely chose to profit from shorting ETH or did it out or spite or for the LOL's.

There is also a good chance that the HF never is activated because the community is divided over this dangerous proposition so he may end up with the ETHs anyways.



Yea probably shorting it aswell... im sure the person who was on it was on polo (the biggest exchange for eth) probably setting up his margin orders before the start of the attack. I wonder if the exchange can somehow find out who created big margin orders around that time although you wont be able to prove it :S
iamnotback
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June 17, 2016, 06:00:52 PM
 #25

Maybe it is just all PR

The craziest conspiracy theory is the whales did this on purpose not just to profit by shorting and repurchasing cheaper, but also to create a massive amount of promotion for The DAO.

The any promotion is good promotion school of marketing.

$50 ETH here we come? (note it could also crash to $1 so please don't think I am offering any advice)

Normally it is best to buy when there is "blood in the streets". Ethereum isn't likely dead. So far, CC is a delusion of decentralization any way.
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June 17, 2016, 06:04:27 PM
 #26

Maybe it is just all PR

The craziest conspiracy theory is the whales did this on purpose not just to profit by shorting and repurchasing cheaper, but also to create a massive amount of promotion for The DAO.

The any promotion is good promotion school of marketing.

$50 ETH here we come? (note it could also crash to $1 so please don't think I am offering any advice)

The child DAO releases coins same day as btc halvening too I think... def timed accordingly. It also created reverse head and shoulders on the daily... so all short/medium bear targets were met and bullish targets remain intact. This would make sense.
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June 17, 2016, 06:06:25 PM
 #27

This is not a good look.

I tend to think you have to let the contract go through, as that is what is is designed to do.

This imposes market discipline and makes future "dao" like investors and offers much more robust.

BTC did have a similar thing back in the day.

I still don't get what Viterlan Butlerick has actually ever programed or practically done apart from the Bitcoin Magazine.

no one has ever answered me on this.

no offense to him, but it seems to be emperors new clothes ... he's really smart said by everyone that speaks of him .... but what in code has he done?

Admitted Practicing Lawyer::BTC/Crypto Specialist. B.Engineering/B.Laws

https://www.binance.com/?ref=10062065
smooth (OP)
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June 17, 2016, 06:08:09 PM
 #28

I still don't get what Viterlan Butlerick has actually ever programed or practically done apart from the Bitcoin Magazine.

no one has ever answered me on this.

no offense to him, but it seems to be emperors new clothes ... he's really smart said by everyone that speaks of him .... but what in code has he done?

pybitcointools. I think he also did some python coding for Ethereum, but not a lot.
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June 17, 2016, 06:11:29 PM
 #29

WBB make all this bullshit coins/projects look silly soon enough Smiley muahhaaaahahaaa
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June 17, 2016, 07:32:50 PM
 #30

We could see lower levels. 7 dollar floor...5 at the worst. This project still has a bright future. However the price is all speculation right now and it only makes sense. Dont forget ETH is a GAS...GAS prices go up and down. I expect this to be normal on the ETH network. I think more stable coins/investments will spring up on the ETH network. ETH is just the GAS.  Someday it will maybe be some very expensive gas indeed.
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June 17, 2016, 07:41:55 PM
 #31

We could see lower levels. 7 dollar floor...5 at the worst. This project still has a bright future. However the price is all speculation right now and it only makes sense. Dont forget ETH is a GAS...GAS prices go up and down. I expect this to be normal on the ETH network. I think more stable coins/investments will spring up on the ETH network. ETH is just the GAS.  Someday it will maybe be some very expensive gas indeed.

Ether has competition and may not have a bright future at all due to some fundamental flaws which others do not have. Additionally, if Ether is mainly CPU/contract fuel , than it isn't very useful to have "fuel" that is so volatile. ETH was pitched as fuel , but in reality is an insecure tarball of a mess that is principally still 99% speculative and IMHO irreparable. 
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June 17, 2016, 07:43:30 PM
 #32

We could see lower levels. 7 dollar floor...5 at the worst. This project still has a bright future. However the price is all speculation right now and it only makes sense. Dont forget ETH is a GAS...GAS prices go up and down. I expect this to be normal on the ETH network. I think more stable coins/investments will spring up on the ETH network. ETH is just the GAS.  Someday it will maybe be some very expensive gas indeed.

I actually agree on $5-7 worst case scenario.
What i will be doing in the meantime...absolutely nothing, but will probably start buying eth for $$ OR even btc (less likely) at those prices.
This might be good for mining as POS could be further delayed, naturally.
Clearly, btc has at least temporary (or maybe permanent) edge now, until segwit is relesed and LN is started.
An unlikely failure of segwit and/or LN and the leadership roles might reverse once again.

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June 17, 2016, 08:00:15 PM
 #33

We could see lower levels. 7 dollar floor...5 at the worst. This project still has a bright future. However the price is all speculation right now and it only makes sense. Dont forget ETH is a GAS...GAS prices go up and down. I expect this to be normal on the ETH network. I think more stable coins/investments will spring up on the ETH network. ETH is just the GAS.  Someday it will maybe be some very expensive gas indeed.

I actually agree on $5-7 worst case scenario.
What i will be doing in the meantime...absolutely nothing, but will probably start buying eth for $$ OR even btc (less likely) at those prices.
This might be good for mining as POS could be further delayed, naturally.
Clearly, btc has at least temporary (or maybe permanent) edge now, until segwit is relesed and LN is started.
An unlikely failure of segwit and/or LN and the leadership roles might reverse once again.



If the price goes down to $5 or below, it is not profitable for many people with high electricity price. So it does not help.
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June 17, 2016, 08:04:58 PM
 #34

We could see lower levels. 7 dollar floor...5 at the worst. This project still has a bright future. However the price is all speculation right now and it only makes sense. Dont forget ETH is a GAS...GAS prices go up and down. I expect this to be normal on the ETH network. I think more stable coins/investments will spring up on the ETH network. ETH is just the GAS.  Someday it will maybe be some very expensive gas indeed.

I actually agree on $5-7 worst case scenario.
What i will be doing in the meantime...absolutely nothing, but will probably start buying eth for $$ OR even btc (less likely) at those prices.
This might be good for mining as POS could be further delayed, naturally.
Clearly, btc has at least temporary (or maybe permanent) edge now, until segwit is relesed and LN is started.
An unlikely failure of segwit and/or LN and the leadership roles might reverse once again.



If the price goes down to $5 or below, it is not profitable for many people with high electricity price. So it does not help.

so, these people will drop off, network speed will decrease somewhat and profitability increase
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June 17, 2016, 08:13:55 PM
 #35

Quote
"Miners and mining pools should resume allowing transactions as normal, wait for the soft fork code and stand ready to download and run it if they agree with this path forward for the Ethereum ecosystem."

Don't the miners make the system on which the law is built on - in both bitcoin and ethereum?

If 51% of miners choose a certain path then I really don't see an issue (they could choose a different path and the code can't force anything on the miners or blockchain either way).

I guess I agree that there was no DAO hack.  I also agree that miners choosing a different direction of code is a higher authority than the code itself.
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June 17, 2016, 08:40:40 PM
 #36

https://twitter.com/goenda/status/743816080343195649

"@ethereumproject I made a bad contract in the first days ETH was online and lost 2K ETH with it, can I also get it back?"
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June 17, 2016, 08:43:47 PM
 #37

Paypal stole the $600 of BTC I sold via a matchup on localbitcoins. Can Vitalik help me with that also? Does anyone know anyone who knows him and put in a good word for me?
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June 17, 2016, 09:24:54 PM
 #38

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!
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June 18, 2016, 12:37:09 AM
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June 18, 2016, 03:03:04 AM
 #40

Paypal stole the $600 of BTC I sold via a matchup on localbitcoins. Can Vitalik help me with that also? Does anyone know anyone who knows him and put in a good word for me?

They took almost 5k from me and i had my lawyer get it back after a 2.5 month long battle..
then when they were done they stole a hair under $700 and kept saying they already gave it back.

They kept telling me i had broke the TOS i signed.
It is forbidden to use ANY related virtual currency shit with Paypal period .

Like others before me they simply kept demanding i get a signed affidavit (admitting my guilt)
I kept asking why would i admit guilt and what will that do ?
Will they give me my frozen money then ?
They would not comment.. ever !
They just kept demanding i admit guilt or saying my account / funds would stay locked.

BUT HEY !

Head on over to the Market Section here.. 99% of all topics for HUNDREDS of pages
are buying & selling Bitcoin etc with Paypal so it HAS to be ok right ?

Crypto.. pinnacle of Stupidity on a scale never seen before in human history.

FUD first & ask questions later™
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