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RE: SEC Says DAO Regulated As A Security - Who Could Have Predicted This? Not Me!
We should wonder if they grasp what Ethereum devs did to correct that theft? By creating ETH they essentially doubled the amount of ETH by creating ETH and ETC. So whomever has stolen that 50 million got away with it because ETC is still traded on the open market. Now BItcoin Cash (BCC) wants to do the same for BTC even though both are trading now at different prices on the open market. They are not going to fork BTC on Aug. 1st because they already have with BCC, am I the only one that sees the fraud here? If you buy a digital apple from me and I replicate it before giving it to you have I given you anything that I do not have? No, I still have a digital apple, now you do too, but I also now got your money. Check out Uetoken.com
The question you should be asking is what they did to ALLOW that theft in the first place, and who gave them the authority to unilaterally change the blockchain, which was previously understood as an irrevocable ledger of transactions? ETC was not the fork, ETH is the fork. ETC was exactly the same thing before and after the fork, except in name. The developers of ETH could have prevented the fork by allowing losses to be born as a result of the faulty DAO code, as would happen in any other free market system thus incentivizing developers to create better code and investors to vette their investments more carefully. Instead they chose to save their own personal investments, and a handful of other large investors, at the expense of all ETH holders. Welcome to cryptosocialism.