It all just seems very wrong to me. Hard forking a chain to save a fraction of your investment. Thats what it is, really.
Before you can think clearly, take your emotion out of the equation. Forget the fact that your millions are at stake and move to a higher level.
If you do the numbers it does not justify. Do you know how much ETH the developers poured into the DAO? I have a rough figure and its not pretty. Well over %65 of the DAO funds came from the inside. You now understand why they want to fork and are doing their very best to justify to the wider community why its “necessary”.
Those funds were pennies back in the day. Genesis funds that had appreciated beyond their wildest dreams just thrown away into a shitty dumb contract without much thought only driven by greed and delusion. Verify it yourself (Slack chat logs are a good start).
Anyone can fork our code at any time. They are trying to convince you to run down their rabbit hole.
Heres the sad truth. They have wiped off over $600 million dollars from the Ethereum market cap and lost over $200m USD of (mostly their own) invested funds and now want it back. Just like that.
Unfortunately you cant do that. You can fork till your hearts desire but you cant repay back the hundreds of millions in USD the Slock.it team burnt off our market cap.
Is this moral, is this ethical? You damn sure know the answer to that and any justification in your mind is a hosted thought -Its corrupt.
The Ethereum foundations involvement in this has become strikingly odd don’t you think? Their mission is to build our blockchain and work towards serenity. The last few weeks they have been quietly working away promoting the hardfork and wasting time on a failed smart contract where they have no jurisdiction. If you analyse what has been happening, this has come to resemble more of an organisation than a foundation. A corrupt organisation.
Now when I first got involved in Ethereum it was during the 1BTC=2000ETH crowdsale. My visions of decentralized smart contracts where as wild as it came. My faith in Vitalik was that of a religious man and I had a strong belief we were to achieve.
I can say with all my heart, that dream has now become a nightmare.
What this boils down to is the money. The greed, the delusion and the power.
3 months ago could you imagine any of the Founders, ETHDEVS or Slock.it team campaigning for this outrageous hardfork? Not in a million years. So what changed? Money. Money changed them.
If you read the chat logs from the slack channel when this was first happening, you will see the Slock.it team filled with greed, hype and euphoria only caring about what they thought was their retirement fund.
We all know they wanted to be paid millions of ETH to kick back and play a pipe dream that had no actual ROI spare the hype. You see this everyday. Companies raising investors money to research and play about only to deliver a product years later that yet again needs more money to get off the ground.
They are responsible and directly responsible for this. They made the contract as public knowledge and are so responsible. Anyone investing is also responsible. Its one of those bitter pills you need to swallow in life. The one that wakes you up and allows you to see where your at and what you have become.
Now if you have taken the time to pour over chat logs then your likely wide eyed in amazement. If you really want to blow your mind, take a look at the logs after the DAO hack went down. Now trawl through social media and reddit. Can you see the desperate emotions? Its not about ETH, its about their funds. Any fool with a spare moment can identify.
There are spectacular moments where we get to see who these people really are. Viewer discretion advised: This will change your view.
Take a moment to surf the internet and look at what Ethereum has become in the eyes of the world. Not in any way resembling our initial goals. Look at the public statements and disgusting attitude of our leaders splashed across social media.
The arrogance. The entitlement. The delusion.
These people have cost us more money than they will ever understand.
The purpose of this ludicrous HF is to get back investors ETH? Correct. What about our USD value? Who is going to make that right?
Now please tell me, after you reverse that, how are you going to make right with all the people that lost/made money trading ETH/DAO?
They are investors in this. Many people sold DAO on the news of the hack at a loss. Many people bought it cheaper only to lose more money. Turns out, if anyone cares to pay attention, DAO is actually worth nothing from an analytical view. Its no longer backed by the 1-100 ETH ratio.
How are you going to refund those in the secondary DAO market? How are you going to replace the $600 MILLION DOLLARS you wiped off the market cap???
I got a bunch of friends into DAO not long before the hack. I set them up with wallets and explained things quite well. Days later their DAO was worth next to nothing and the ETHER they just bought nearly halved in value.
Do you know what happened?
They could not believe what was going on and they were in total shock. First introduction to our beloved ETHER and they were shafted. Heres the good news: They were not misguided foolish or irrational investors. Each of them only put a couple bucks into the idea because they did not understand or trust it %100.
You know what. Thats smart investing. They made a bad investment and have worn the consequences with proper risk management.
Now tell me Ether wizards. How are you going to make it right for my friends here, who represent many many more? They are not interested in the ETH or the DAO. All they want is their money back. Will the HF help them? No. Will forking get them any value back? No.
If you are going to look after your own inner circle I ask you to take a look at all the people you are robbing for the sake of yourself.
Your robbing more traders, investors, miners and exchanges than your own little collective loss. Think about that. Who is the real thief here?
Technically (according to the T&C’s your about to violate) Ethereum is lawfully protected from this sort of action.
You can rollback your invested ETH but you cant make right the USD. It will only help you get YOUR ETH back.
I hope you all understand something very, very important.
The gravity of what you are doing will weigh forever hard on your conscience and change the course we were forever on.
Every public statement or chat log ever made will come out. All of your internal discussions and collusions will see the light of day and your personal investment choices will be revealed.
The numbers dont lie. They never do.
The positive to come out of this? We know who you are and what you are.
The world can see this for exactly what it is. You can try justify your view in any way you like but when it comes down to it, there is no substance.
You were once good people. Your now trying to play god on the blockchain and you just dont have all the answers.
The Ethereum foundation has stepped outside its scope and there may be consequences. You are not above the law. You are not protected from association or liability.
You have involved the law and government scrutiny through your actions. Smart contracts that do not warrant legal status will now have a leverage point. You and your foundation.
When the Augur prediction markets host questionable contract options you have placed them in jeopardy. You cant even begin to understand what you have done because all you seem to focus on is your investment. Sadly for you, this is bigger than that.
Did you consider the possibility of a state funded attack? Process the possibilities of what that may set in motion. You smart cookies have been dipped in milk and crumbled under the pressure. The time limit on that contract is just another false emotional bell. Humans are predictable.
If the Hardfork is to transition through public consensus we will devote a % of our genesis to funding an internal investigation.
Why would we do this? Somebody needs to stand up for whats right and we will do so by any means necessary. Mostly you don’t understand whats happening right now but in time you will.
The foundation has proven to be corrupt (they dont understand this yet) and now have backing from some very silly Bitcoin figures (after spending big on the DAO).
This wont come down to who has more money. This will play out as right and wrong. And you my friends, are very wrong. You cannot justify “consensus” as consensus because frankly, these people dont understand what they are voting for today. They think its a simple “Lets take that ETH back from the thief!” People are dumb and you can use them as you like but the truth runs deep.
Perhaps you may grasp some of the realities through and come to feel the universal decisions you make.
What you do today will change the lives of billions. The potential for new laws, regulation and policy is a long and arduous road. Think about it… In 10 years it may be illegal to run permission-less chains or unsanctioned blockchain software.
Dont underestimate what your getting yourself into.
Speak later, gtg