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RE: DAO fund the Start Moving On Already Hack

in #dao8 years ago

Don't worry. I can understand it. One of the things in English is that the order of words is different from other languages.

I have de-Google translated it for you and think this is what you meant. Feel free to copy past this into your post:

Although the DAO situation has been relatively quiet we have had some new developments recently. A large amount of the "hacked" Ethereum Classic funds are still elligible for withdrwal. These funds were moved a couple of hours ago. Interestingly the ETC price on exchanges has not declined significantly as a result.

Since the DAO hack was exposed there has been great focus on these missing funds.

Funds from Ethereum Classic Were Moved to a New Address

It turns out the ETC funds from the DAO hack have been moved to a new address. Contrary to what most people expected ETC was not dumped on the exchanges as a result of this and the ETC price has remained stable. Some people wonder what will happen with the hacked funds.

The first order of business may be for the hacker to donate ETC to help fund development because as most people will be aware ETC requires development resources.

Getting people excited is not difficult but the addition of financial incentives can certainly help with development. Currently ETC only has a fraction of the development funds of ETH.

For the hacker dumping the ETC on an exchange would be a logical decision, however, it seems that is not his/her intention.

The big question is what will happen with his/her ETC funds? There is a strong chance that he/she will use the remaining funds to support the building of ETC.

We are still talking about a fund of approximately $5m USD which is controlled by an unknown entity.

This disaster has already spurred a new debate amongst the ethereum community. Some people support sending a "cease and desist" letter to ETC because they think it violates the Ethereum trademark.

Alternatively one might say that Ethereum Classic is the original blochchain and implementation of the code without a hard fork.

There is certainly a lot of drama here that will continue to entertain us for a few months.