If the DAO was an energy company and VB the President...
Imagine the president of the United States invested and promoted a new company called “Wind Energy”, this company its supposed to revolution the energy industry and it raises millions of dollars from people who believe on the company and the President’s vision.
Turns out, the Wind Energy’s Lawyers didn’t do their job right and they failed cover a legal vacuum on the contract that could allow anyone with legal knowledge and resources to claim the companies assets, so of course someone figures this out and uses the legal vacuum to his advantage and gets hold of a big part the assets.
After the event, the president and Wind Energy’s board of directors want to dismantle the company and create a new contract that would seize and return the “thief’s” assets and give them back to the original investors, recovering of course their own money while doing so.
So, if you were a voter, what would you make of all this?
Somebody picked up on a way to use a legal system to their advantage. Other people come along and expect to be able to hit a reset button and come back to life with all their funds intact? I just don't feel the idea of the fork and recovering the ether is a good idea. In a sense, wouldn't it be stealing from the guy that got them through the contract since he got it legally, and they'd be taking it back without his permission? I haven't kept up to date on it, but has anyone contacted them with a simple, "Wow, good job on finding that flaw. Is there any kind of deal we can work out to return as much of the ether as possible?"
I just feel like what little faith I have in Ethereum will be gone is they take a strongarmed approach to "righting" this issue.
Edit: Only because I just found this article and it says exactly what I was thinking... https://bitcoinmagazine.com/articles/the-dao-was-not-hacked-mt-gox-1466451376
Thank you for this. It brings back my faith in human beings.
w.w.s.d.
Good analogy, though I think that the creators of Eth, were entering into a huge conflict of interest when they created the DAO, if they funded it with their own pre-mined ETH, like the way Steemit has been funded, fair enough. But they didn't, they took other people's Eth.
I think the fact that the bug hasn't been fixed and trading is still apparently going on, is madness; maybe I'm not understanding it properly, but couldn't the whole thing just happen again?
CG