Tumultuous storms rocked the Buterin's Waterfall amusementarium Friday morning, after an alleged hack caused prices to plummet against Bitcoin. Coinmarketcap.com showed the DAO1 down -20.34%, with Ether dipping -12.07 % over the past 24 hours. A blog post on slock.it informed users that no funds would be lost due to this "race to empty" bug. To support their claims, a hand-drawn morale graph was offered for assurances. Lacking immutability, ride operators suggested "rolling back" their blockchain to make the hack's effects2 magically vanish. Sorry for your loss.
The Waterfall's newest ride the DAO adds a new twist to the classic log Flume by ending with riders entering a wood chipper instead of a SplashCam(TM)(R) ↩
And any other things that happened on the blockcain concurrently.. ↩
What they are doing is worse than a rollback. They are implementing a softfork that specifically locks all coins in the child DAO. Then Buterin wants to implement a withdrawal-only process in the upcoming mandatory hardfork. He's essentially playing the role of FED chairman and bailing out the investors of the DAO because its too big too fail. He can essentially blacklist/whitelist smart contracts at will (assuming he's sufficiently brainwashed all involved).
All because people don't read the code when they say they will.
Contract authors should take care to avoid creating contracts that contain more than ~$10m worth of value.
Prolly they need to apply for a license to transact over 10m or something. I'm "Officially Licensed TBTF!!1".
Holy implosive incompetence.
That makes you appreciate a cryptocurrency where the various parties hate each other, i.e. Bitcoin, because that kind of shit could never happen here.
Hate is never overrated.
Better fear than "hate".
That is, pretenders, aware of their own suckage, avoid direct confrontation and limit themselves to having scamferences, writing shit on coindesk, pumping altcoins and such. It is fear of having their inferiority exposed, fear of acknowledging the truth, fear of doing miserably and ending up in a weaker position than ever what keeps them from going forward with their shit.
Definitely not hate. Hate alone does not explain inaction, frantic movement as a cover, denial and pretense everywhere. It's the scammer who knows himself a scammer and is terrified of being outed, who acts like that.
This is like a discussion of talent in art or skill in business. You know they'll still call it
luckhate no matter what you say. Because they're they.