Damn only 20k market cap. Was hoping this one would stick around, love the name.

DAO is not really hacked. There were some cheap prices for a while. Recursive call bug, in many eth contracts. Eth soft fork coming soon, followed by a hard fork. This will make the security of the whole system better. I think it's a good thing overall but I was definitely alarmed when I woke up and saw prices had plummeted.

https://blog.ethereum.org/2016/06/17...vulnerability/

Assuming miners accept the hard fork you can buy dao at .8 right now and get 1 when it's refunded. So 20% profit but at risk of forking issues and other unknown problems. That's my quick understanding of what will unfold over the next month or so.

Not following your logic. What do you mean that you can buy DAO at .8? Looking at poloniex, I see DAO selling for ~.0074 Eth. Now using numbers on daohub.org we have:

9.23M eth received/1160M dao tokens = 0.00795 eth/token

This means that if a fork is accepted and all DAO eth is dispensed the most a DAO token can be worth is 0.00795 eth right?

That means that right now DAO is selling for 0.0074/0.00795 = 94% of its max value.

Vindication. Centrally controlled AND poor security.

100 dao tokens for .8 (.66) now. If hard fork occurs it rolls back all eth withdrawn by hacker and can get 1 eth per 100

I'd do it. Buy dao now lol.

Smart contract just means whatever whim that Vitalik wants to decide for who gets funds, right?

LOL watching this turd is quite the entertainment. Bitcoin price has boomed so much, and watching this fail will pretty much solidify it's position in terms of dominance.

ETH really tanking hard right now, Im almost tempted to buy but I know next to nothing about it

+1

Someone start an ETH thread who knows something. Seems it deserves its own at this point.

Imo this and the btc thread should be merged. We don't need a 3rd thread

The eth markets are so thin right now


Some whale could come in and just rekt the price. Especially a random dao whale

Vitalik can't decide anything. The miners decide. Sure, Vitalik can give his opinion but he can't make anything happen on his own.

It's like the current btc block size debate. Lots of big names want bigger blocks, they can't do anything. It's up to the miners.

People are worried that if the miners do accept the hard fork proposal to roll back the hacked funds it sets a precedent that any mistake can be rolled back, or that there is control over the blockchain.

well there is control over the blockchain already. it's called mining power. so for whatever reason they want, miners can fork the blockchain if they want.

i had more to say when i was walking and reading on my phone, but now i forget.

My thoughts on Vitalik Buterin, Ethereum and DAO co-founder: "There's a fine line between genius and insanity and he's erased that line"

I own BTC and ETH, but not DAO; BTC seems to have carved a stable niche; ETH has a chance; not recommending anyone buy or sell anything.

Why do people think Vitalik is a 'turd' or 'insane'? I've met him. Very nice guy. I think he has Asperger's or something but he's obviously extremely gifted and he means well. What has he done that steps beyond where you think he should have?

I'm impressed that you've met him. I wish I could do that. All I know of him is based on his web media. I'm sure he is bright and well-intentioned and I have bought ETH so I am on his side. OTOH Ethereum is complex and may be ahead of its time, and "Nikola Tesla". gl

The poorly put together DAO got hacked for ETH. Not exactly Ethereum getting hacked itself.

Was also waiting for the day. I love how everyone was saying "diversify" too. VINDICATED BABY.

Don't for the love of god.

Letter from DAO Attacker

===== BEGIN SIGNED MESSAGE =====
To the DAO and the Ethereum community,

I have carefully examined the code of The DAO and decided to participate after finding the feature where splitting is rewarded with additional ether. I have made use of this feature and have rightfully claimed 3,641,694 ether, and would like to thank the DAO for this reward. It is my understanding that the DAO code contains this feature to promote decentralization and encourage the creation of "child DAOs".

I am disappointed by those who are characterizing the use of this intentional feature as "theft". I am making use of this explicitly coded feature as per the smart contract terms and my law firm has advised me that my action is fully compliant with United States criminal and tort law. For reference please review the terms of the DAO:

"The terms of The DAO Creation are set forth in the smart contract code existing on the Ethereum blockchain at 0xbb9bc244d798123fde783fcc1c72d3bb8c189413. Nothing in this explanation of terms or in any other document or communication may modify or add any additional obligations or guarantees beyond those set forth in The DAO’s code. Any and all explanatory terms or descriptions are merely offered for educational purposes and do not supercede or modify the express terms of The DAO’s code set forth on the blockchain; to the extent you believe there to be any conflict or discrepancy between the descriptions offered here and the functionality of The DAO’s code at 0xbb9bc244d798123fde783fcc1c72d3bb8c189413, The DAO’s code controls and sets forth all terms of The DAO Creation."

A soft or hard fork would amount to seizure of my legitimate and rightful ether, claimed legally through the terms of a smart contract. Such fork would permanently and irrevocably ruin all confidence in not only Ethereum but also the in the field of smart contracts and blockchain technology. Many large Ethereum holders will dump their ether, and developers, researchers, and companies will leave Ethereum. Make no mistake: any fork, soft or hard, will further damage Ethereum and destroy its reputation and appeal.

I reserve all rights to take any and all legal action against any accomplices of illegitimate theft, freezing, or seizure of my legitimate ether, and am actively working with my law firm. Those accomplices will be receiving Cease and Desist notices in the mail shortly.

I hope this event becomes an valuable learning experience for the Ethereum community and wish you all the best of luck.

Yours truly,
"The Attacker"
===== END SIGNED MESSAGE =====

Message Hash (Keccak): 0xaf9e302a664122389d17ee0fa4394d0c24c33236143c1f26 faed97ebbd017d0e
Signature: 0x5f91152a2382b4acfdbfe8ad3c6c8cde45f73f6147d39b07 2c81637fe81006061603908f692dc 15a1b6ead217785cf5e07fb496708d129645f3370a28922136 a32

http://pastebin.com/CcGUBgDG

All I can really say is wow what a smart guy to pull this off and... gg ETH?

spiroseliot ‏@spiroseliot 33m33 minutes ago
@el33th4xor the flaw is still active and it seems many ppl still drain ether from it

https://www.reddit.com/r/TheDao/comm..._just/?amp=#oo

odds that a fork happen? Is there any legitimate transaction taking place right now with the risk of a fork happening?

edit: oops, apparently a fork isn't an actual rollback. https://blog.slock.it/what-the-fork-...1dd#.jepmconhe

Nice drama. My guess is that the actual attacker will get "forked" but DAO and ETH will suffer a setback for a while.