Ethereum developers really put themselves in a horrible position.<p>1. Undisclosed investments on DAO from top ETH devs<p>2. The 5% "consensus" on hardfork<p>3. The inherent fragility on the implementation design of smart contracts<p>The whole situation is really messy and Ethereum foundation didn't step up to think what's best for the future of Ethereum. The most important gripe for me is that there is still no proper retrospective from the Ethereum organisation and how will they prevent this from happening again.<p>All these made really unattractive the use of ETH, not to speak of value storage of course.<p>I hope Rootstock will learn from Ethereum's mistakes and do better.
I don't understand the rage of some people against this decision. Cryptocurrency should be about free association of individuals and not about blindly following a flawed protocol that just happened to be the first implemented. If the consensus or vast majority vote is to upgrade the protocol, then that is what should be done. If everybody decides to stop using etherium and issue IOUs in the value of the currency they held, and use that as money, also fine. If they decide unanimously to change the protocol to give one person all the money, so they can build a huge goat idol, then that's the collective decision.<p>No doubt the contracts and the protocol will be refined many times until they convey the intention of the community better.<p>The beautiful thing about a correctly implemented cryptocurrency is that single actors cannot act against the majority will of the community. But that doesn't mean we can't shut down our computers for a minute to reconsider the rules of the game, if we find a new consensus.
So. the intent of the DAO was _not_ specified in the code unlike claimed by all the hype. If I was a potential investor, I would be extremely curious to find out where the intent of DAO nowadays _is_ defined.
I couldn't be more opposed to this decision. It's a terrible precedent to set, and I think fundamentally undermines the ideals behind the Ethereum network. The DAO should live or die by its own code. A hard fork should only be done to save the Ethereum network itself because of a critical flaw.
What about customer ETH in Kraken's possession on the other chain, assuming it persists. Will they return it to customers or keep it for themselves?