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Re: <nettime> Ethereum: DAO - "The Attacker"
Morlock Elloi on Tue, 5 Jul 2016 00:23:55 +0200 (CEST)


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Re: <nettime> Ethereum: DAO - "The Attacker"



At the recent Ethereum DAO meeting, during the course of defending the
two proposed solutions (hard fork: requires two major exchanges to
agree, or soft fork: requires certain % of users to agree), the word
"community" was mentioned few hundred times, and there was a (hard?)
promise that this will happen only once, never again (because there
will be no more bugs this time :)

Speakers and the audience completely failed to recognize the
ludicrousness of the situation and their positions (no one laughed),
and that a success of the either of the two proposed solutions
(oligarchy or mob rule over mathematics) would be the final nail in
the coffin of the Ethereum/DAO concept.

Flimsiness of the Ethereum base infrastructure (Bitcoin) is unraveling
as we speak (my guess that there are 9 mints controlling the Bitcoin
was overly optimistic, there are only four):

http://www.nytimes.com/2016/07/03/business/dealbook/bitcoin-china.html

"... over 70 percent of the transactions on the Bitcoin network were going through just four Chinese companies,..."




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