Why the DAO Hacker is probably an Asset for the ETC ecosystem
It's true that the DAO hacker could sell off into the market to deflate the price, but this outcome from all the permutations of what they could do is not very likely. Although we don't know the personality of the DAO hacker, we can probably make these reasonable assumptions:
1). The hacker believes code is law (because they did what they did).
2). The hacker probably resents the Ethereum foundation for breaking the rules and confiscating their code is law earned ether.
3). If the hacker liquidates they will probably have to reveal their identity (or at the very least risk revealing it). It is definitely not in the attacker's interest to reveal their identity.
4). Even if the hackers's sole motive is profit, liquidating into the market is not the only way to make money in this situation. The hacker is in a great position to manipulate the price of ETC. It has already been suggested by others that the hacker could fund development efforts in the ETC community, which would have the knock on effect of inflating the price.
Knowing aspects of the hacker's personality would sure help us to figure out what their next move might be. In a nutshell though, it is mainly a consideration of how much risk the hacker is willing to take revealing their identity. A lot of different things can happen, but if I was the DAO hacker it sure would sound appealing to become a God-like mystical driving force that supported the development of the ETC ecosystem.
He already made his money when he shorted ETH before the hack.
Also, the hacker clearly isn't benevolent, because he chose to be blackhat instead of whitehat (he could have executed the attack and then announced how he would return the funds when the DAO was dissolved).
Ok... and why does he want to stop making money after that?
It was never my intention to portray the attacker as benevolent. I'm sure he wants to flip off the ethereum community for confiscating his funds on that blockchain. Also, endeavouring on actions such as funding an ETC development team serves the hacker's self interest first and foremost. If the attacker can't liquidate without revealing their identity market manipulation is another way to profit.
I never said he won't make any more money after that. But he already made a tidy sum, I guarantee that.
Hi! This post has a Flesch-Kincaid grade level of 9.2 and reading ease of 60%. This puts the writing level on par with Michael Crichton and Mitt Romney.
I upvote U