4 ms·

I tend to agree with the letter. I'd probably feel differently if I was a DAO token holder, but I think forking the blockchain would be a severe compromise of t

I tend to agree with the letter. I'd probably feel differently if I was a DAO token holder, but I think forking the blockchain would be a severe compromise of the principles laid out by Ethereum and the DAO: the code is the contract. Just like it was unethical for the banks to get bailed out from bad, risky mortgage-backed securities, it's unethical for the DAO to get bailed out for writing bad, risky code.

dev1n 10y ago
The banks needed to be bailed out or else there would've been a massive bank run on the scale of the Great Depression. The people who made those MBS trades should have gone to jail, and they didn't. That's where the injustice stems from.
- effingwewt 10y ago
  Then that is what needed to happen. Banks failed, therefore they should go away and be replaced with something else. It literally is that simple. By bailing them out we shifted away from capitalism. Which may not be bad, but let's call it what it is. Once we use our own capital to reinforce dead/dying businesses we give them incentive to get too big to fail, make all the cash they can while doing it, and screw everyone along the way. People would have been better off with prepaid cards and cash. We should have used that bailout money to make sure people got their money from banks. This is where the injustice lies. If we didn't send them to prison, we didn't have to PAY them for being criminals. Ugh they even paid themselves huge bonuses with the money we the customers gave them to continue screwing us. Remember them not loaning money though we just GAVE them tons, even though it was a provision of said bailouts? Saying it "wasn't their problem"? Sorry, I'm jaded but when I see people say stuff like that it just makes me so resigned to the fact this is not the place I grew up in, in the 80's.

4 ms·

I tend to agree with the letter. I'd probably feel differently if I was a DAO token holder, but I think forking the blockchain would be a severe compromise of t

by programmarchy 10y ago

dev1n 10y ago
The banks needed to be bailed out or else there would've been a massive bank run on the scale of the Great Depression. The people who made those MBS trades should have gone to jail, and they didn't. That's where the injustice stems from.
- effingwewt 10y ago
  Then that is what needed to happen. Banks failed, therefore they should go away and be replaced with something else. It literally is that simple. By bailing them out we shifted away from capitalism. Which may not be bad, but let's call it what it is. Once we use our own capital to reinforce dead/dying businesses we give them incentive to get too big to fail, make all the cash they can while doing it, and screw everyone along the way. People would have been better off with prepaid cards and cash. We should have used that bailout money to make sure people got their money from banks. This is where the injustice lies. If we didn't send them to prison, we didn't have to PAY them for being criminals. Ugh they even paid themselves huge bonuses with the money we the customers gave them to continue screwing us. Remember them not loaning money though we just GAVE them tons, even though it was a provision of said bailouts? Saying it "wasn't their problem"? Sorry, I'm jaded but when I see people say stuff like that it just makes me so resigned to the fact this is not the place I grew up in, in the 80's.