[ANN][DASH] Dash (dash.org) | First Self-Funding Self-Governing Crypto Currency

[ddink7]

OMG I can't believe they're planning a hardfork to "unsteal" the loot.

Thats the deathnell for any coin. But what are they forking - just the DAO ?

It's certainly not 'autonomous' if someone used its rules to pay them self and then humans come in and reverse that. 

It's not self-governing at that point.

DAO gets worse:
“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.”

So within 27 days, a whole lot of previously "locked up" ETH is going to be hitting the market...

[afreer]

OMG I can't believe they're planning a hardfork to "unsteal" the loot.

Thats the deathnell for any coin. But what are they forking - just the DAO ?

It's certainly not 'autonomous' if someone used its rules to pay them self and then humans come in and reverse that. 

It's not self-governing at that point.

DAO gets worse:
“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.”

The original DAO is still going strong http://dashvotetracker.com/

[Minotaur26]

This is a must read account of the discussions between the ETH principals and exchange operators in the aftermath of the hack. There are some voices of reason there that were warning against a rollback, super interesting.

http://pastebin.com/aMKwQcHR

[TanteStefana2]

OMG I can't believe they're planning a hardfork to "unsteal" the loot.

Thats usually the deathnell for any coin. But what are they forking - just the DAO ?

That's like a hardfork to "unsteal" the Mt. Gox funds!!

I don't get it though, what happens to those who bought in good faith?  What happens to the BTC?  Does that get "undone"?  If so, how?  It's not like these DAO coins live in a bubble!  People who sold their coins for BTC, may have withdrawn their BTC, how do you make them give it back?

I don't understand how they can just "reverse" all those transactions?

[BitWater]

It's absolutely amazing how Ethereum with a market cap of over 1B and with as much backing and support it has, this happens..

I don't see how Ethereum is going to recover.

[noobtrader]

It's absolutely amazing how Ethereum with a market cap of over 1B and with as much backing and support it has, this happens..

I don't see how Ethereum is going to recover.

yes, its quite terrible that this thing happen during pump.   but ethereum is very young, more so those DAO  experiment and this have to happen before they mature and prove themself.

[ddink7]

OMG I can't believe they're planning a hardfork to "unsteal" the loot.

Thats usually the deathnell for any coin. But what are they forking - just the DAO ?

That's like a hardfork to "unsteal" the Mt. Gox funds!!

I don't get it though, what happens to those who bought in good faith?  What happens to the BTC?  Does that get "undone"?  If so, how?  It's not like these DAO coins live in a bubble!  People who sold their coins for BTC, may have withdrawn their BTC, how do you make them give it back?

I don't understand how they can just "reverse" all those transactions?

theDAO did one thing right: they created a 27 day waiting period before coins could be withdrawn. Those coins never hit the blockchain and never got transferred. The only moved from one contract to another. So basically, the devs have released a soft fork to freeze that one contract and keep it from withdrawing the funds after the 27 days elapse. They are also considering a hardfork to reverse that one single transaction (theDAO > thieves_contract).

[TanteStefana2]

OMG I can't believe they're planning a hardfork to "unsteal" the loot.

Thats usually the deathnell for any coin. But what are they forking - just the DAO ?

That's like a hardfork to "unsteal" the Mt. Gox funds!!

I don't get it though, what happens to those who bought in good faith?  What happens to the BTC?  Does that get "undone"?  If so, how?  It's not like these DAO coins live in a bubble!  People who sold their coins for BTC, may have withdrawn their BTC, how do you make them give it back?

I don't understand how they can just "reverse" all those transactions?

theDAO did one thing right: they created a 27 day waiting period before coins could be withdrawn. Those coins never hit the blockchain and never got transferred. The only moved from one contract to another. So basically, the devs have released a soft fork to freeze that one contract and keep it from withdrawing the funds after the 27 days elapse. They are also considering a hardfork to reverse that one single transaction (theDAO > thieves_contract).

Looks like the work of a white hat

[BitWater]

It's absolutely amazing how Ethereum with a market cap of over 1B and with as much backing and support it has, this happens..

I don't see how Ethereum is going to recover.

yes, its quite terrible that this thing happen during pump.   but ethereum is very young, more so those DAO  experiment and this have to happen before they mature and prove themself.

Word on the street is LISK co-operates with Ethereum? I see LISK being a user friendly version of what ETH is.

[ddink7]

This is a must read account of the discussions between the ETH principals and exchange operators in the aftermath of the hack. There are some voices of reason there that were warning against a rollback, super interesting.

http://pastebin.com/aMKwQcHR

Freaking amazing...the devs bullied exchanges into halting trading by threatening a rollback. Wow!

[crowning]

So basically, the devs have released a soft fork to freeze that one contract and keep it from withdrawing the funds after the 27 days elapse. They are also considering a hardfork to reverse that one single transaction

The question to me is why would someone invest serious money into DAO when the devs can revert it whenever they want.

I don't know much DAO/ETH implementation details so I might be wrong, but if something like this should be possible without 51% consensus it would be terrible.

[TMBS Altcoins]

So basically, the devs have released a soft fork to freeze that one contract and keep it from withdrawing the funds after the 27 days elapse. They are also considering a hardfork to reverse that one single transaction

The question to me is why would someone invest serious money into DAO when the devs can revert it whenever they want.

I don't know much DAO/ETH implementation details so I might be wrong, but if something like this should be possible without 51% consensus it would be terrible.

a nice question also is : will ETH be forked everytime a DAO coin is hacked ?

[BitWater]

Isn't the DAO on a different setup than ETH? Nobody mines DAO so how exactly can there be a consensus?

[ddink7]

So basically, the devs have released a soft fork to freeze that one contract and keep it from withdrawing the funds after the 27 days elapse. They are also considering a hardfork to reverse that one single transaction

The question to me is why would someone invest serious money into DAO when the devs can revert it whenever they want.

I don't know much DAO/ETH implementation details so I might be wrong, but if something like this should be possible without 51% consensus it would be terrible.

Both the softfork (to freeze the guy's address) and the hardfork (to revert that one transaction) have to be approved by miners is my understanding. Of course, it's probably in their best interest, at least in the short term, to agree to the softfork. The hardfork is very controversial.

[sdef2]

This is a must read account of the discussions between the ETH principals and exchange operators in the aftermath of the hack. There are some voices of reason there that were warning against a rollback, super interesting.

http://pastebin.com/aMKwQcHR

Thanks for this link; i am shocked to read how easy some exchanges decide to pause trading / stop withdraws etc.

Shouldn't exchanges be much more 'neutral' (continue trading), instead of manipulating the market (pausing everything) ?
This way the exchanges decide if people who are invested can get out or not.. which is a bad thing.

edit: crypto is often associated with free market, which this is not a good example of

[ddink7]

Isn't the DAO on a different setup than ETH? Nobody mines DAO so how exactly can there be a consensus?

Yes, but it runs on ETH's blockchain and on ETH's protocol. So if the miners agree, code can be implemented (on the Ethereum network) that says "this Ethereum contract can't ever spend money" and likewise, code could be implemented (on the Ethereum network) that says "this one transaction never happened"."

[sdef2]

Isn't the DAO on a different setup than ETH? Nobody mines DAO so how exactly can there be a consensus?

Yes, but it runs on ETH's blockchain and on ETH's protocol. So if the miners agree, code can be implemented (on the Ethereum network) that says "this Ethereum contract can't ever spend money" and likewise, code could be implemented (on the Ethereum network) that says "this one transaction never happened"."

so the eth people get to decide what happens to the dao's future ?
nice position to get yourself in heh

[Sub-Ether]

http://etherscan.io/token/TheDAO#txns

[Otoh]

Recent Intel x86 processors implement a secret, powerful control mechanism that runs on a separate chip that no one is allowed to audit or examine.

[Sub-Ether]

Can someone pump the dash price please?  Have some on margin at Polo with money in ether... I'm about to get force closed.  I already lost half of my dash on a hack, and now this?  Wtf man.  

Sorry about that, I almost got a margin called on a very large bet 1 time, it was down to red light bulb alert time at 22% and I had nothing to prop it up (that was eth as well) - luckily it recovered and I escaped with a small loss.
Btw, I cant work out to short eth or go long, short is probably the more obvious.
If some of the stolen btc goes somewhere decent and does not get dumped for fiat then Dash could go up.