DAO "Attack" was an inside job by the big banks !

in ethereum •  8 years ago  (edited)

The DAO "Attack" resulting in Ethereum's "Fund Freeze" proves to the big banks that Ethereum is now a serious competitor for their business just like Ripple did successfully last year:

http://insidebitcoins.com/news/not-so-decentralized-ripple-freezes-1m-in-user-funds/31862

Ripple never left the Top 5 crypto list after publicly freezing user funds, and neither will Ethereum. This is precisely because the Ethereum Foundation has publicly demonstrated effective control over its blockchain.

This exact strategy has kept Ripple among the top cryptos, and proves that courting banks through demonstrable central control is an effective way to compete for real bank business weather Libertarians like us like it or not.

https://ripple.com/insights/ripple-and-xrp-can-cut-banks-global-settlement-costs-up-to-60-percent/

Right now, the Bitcoin-Libertarian crowd cannot see what is right in front of their nose.

Ethereum doesn't want their business, because:

The banker doesn’t look at how she can make incremental improvements to today’s systems with blockchain technology, but how she can position her bank to survive and thrive through the evolutionary change already underway.

Ethereum has just thrown it's hat into the ring .

This is not jokes or FUD, but sound business strategy in play, combined with some insider trading, "weak hand shaking out," and of course, "accumulation," that can never be proven. Congratulations Ethereum for re-positioning yourselves from the Bitcoin-Libertarian fringe into the lucrative mainstream big banking sector.

If you don't think I'm right, just wait until the next twist occurs:

Banks start taking interest as the price reverses. This is how Wall Street takes a position in a company in the real world. It's just that the crypto crowd is not used to seeing this close up.

After the hard fork, everybody will think that the "attacker" had their 10% ETH stake taken away and will sing praises, while Goldman Sachs secretly built up a 20% stake!

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Sorry, couldn't resist. =)

That was quick, here comes that pump, just like clockwork.

http://www.coindesk.com/dao-attack-good-thing-ethereum/

Who owns the media?

Those who just bought your Ethereum at fire sale prices, missed the 2013 bitcoin bubble, and care not for decentralization.

See you at $8.50, soon™. ;)

Ripple didn't freeze any funds, Bitstamp did. Bitstamp was able to freeze those funds because they issued them and they were obligations on Bitstamp's books.

Otherwise, you're absolutely right. Because Ripple has features that make it possible to accurately reflect actual legal obligations on the ledger, it's possible to trade such obligations. This has the additional advantage that if Ripple fails somehow, those obligations still exist.