(and associated Developers) has reached unbelievable levels of illegality, conflict of interest, and insider manipulation that I have never seen before.This is a $1 Billion Dollar (+/-) publicly traded space, with regulatory oversite by the U.S. Commodity Futures Trading Commission http://www.cftc.gov/IndustryOversight/index.htm . The recent and ongoing actions by the Ethereum Foundation
The DAO wiped out almost 50% of Investor value - and the Developers and Insiders KNEW about the risk before it happened. And did nothing.
The HARD FORK has resulted in the combined value of ETH & ETC now below the pre-hardfork ETH value. The Developers and Insiders KNEW about the shoddy code prior to HARD FORK implementation. And did nothing. It created chaos in the markets, and it created enourmous losses to some exchanges, and investors have suffered.
BUT THE REASON I AM WRITING THIS NOW.... is that the 3rd and final straw has now been pulled.
It involves this recent White Hat "Retrieval" of DAO ETH/ETC? It is widely acknowledged that previously confirmed Robin Hood Group (RHG) members are /u/avsa (Alex Van de Sande?) and /u/lefterisjp (Lefteris Karapetsas?).
There are announcements all over the place that this has happened.... and yet No Official Statements as to where the funds are, or what they will be used for. And this has created more market chaos, once again, as these rookie amateurish children move money around without any oversight or accountability. Absolutely No Accountability! This is as bad or worse than what we see coming out of the Fiat Financial World. Especially for this values espousing community it is hypocritical, self-serving Crap!
I believe it is time to shut down the Ethereum Foundation and restore order to the Crypto world. This is the real world, and we're not playing monopoly with fake money. It's real money. And I for one am tired of the arguments these developers give about it all being in the name of progress. WRONG..... we the investors are funding your little escapades. We are LEGALLY owed fiduciary loyalty and responsible governance.
(It may be that this is a good place to start, but ultimately it may end up elsewhere, or many elsewheres, but the community needs to stop fearing all regulations. We are already exactly in a place we wanted to leave - suffering at the hands of a few insiders who are supposedly acting in our best interests - yet secretly, with no open window of disclosure or accountability).I have been gathering an abundance of documentary evidence proving who knew what and when. I encourage everyone else with evidence or allegations of wrongdoing to begin communicating and sharing by visiting http://www.cftc.gov/ConsumerProtection/FileaTiporComplaint/index.htm and following the appropriate prompts.
I fail to see how protective regulation could be any worse than what we have now. A few people are utterly tarnishing the reputation of the entire cryptocurrency space. I look forward to the day that some of these people are detained at borders, arrested, investigated, garnished etc, and the industry can again begin to grow without constant fear of another hand grenade being unexpectedly launched into the markets.
This is not a community of just Miners and Developers. We the investors are funding both of these groups. It's time for the Investors to have their voice heard too.
Lost some money ?
The Ethereum Foundation is not a company.
Don't invest money in something this experimental if you can't afford to loose it.
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