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I think DAO is a complicated abstraction layer over blockchain protocol, meaning that when you get hacked you don't know how much money you actually lost.
by znt 10y ago
I think DAO is a complicated abstraction layer over blockchain protocol, meaning that when you get hacked you don't know how much money you actually lost.
- sopooneo 10y agoThat sounds about right to me. Any insight on how it/they managed to get 100 million in funding? What do all the people sending money think "DAO" is or does?
- znt 10y agoIt says "107.21 M USD EQUIVALENT" without any evidence. I highly doubt that amount is legitimate. Or they may be laundering money as well, I wouldn't spend too much time thinking on this.
- simondlr 10y agoIt's done by taking the amount of Ether it has already raised * the current price of Ether. See it transparently on the Ethereum blockchain: http://etherscan.io/token/TheDAO http://etherscan.io/token/TheDAO
- revelation 10y agoSo yes, not $100M at all. The market for Ether is about as liquid as that for my own imaginary currency.