The DAO is something I haven't though much about in a long time...super interesting article and read.
mk and I have argued about its effects. His position is that Ethereum should have been forked such that the DAO hack couldn't be repeated but that investors lost all their tokens as an object lesson to all. My position is that "the community will make you whole for unintended consequences" is the only ethos that would have engendered further development. In my opinion, there needs to be a sense that investors should do their due diligence, but also that consequences beyond the ken of all but the bleeding edge are consequences that the community should be united in mitigating. mk's viewpoint, if I can represent it properly, is that a lot of the scams, shitcoins and hustles that have arisen since are a direct consequence of the Ethereum community nerfing out their world because of the DAO. My viewpoint is that it is that very nerfing is what has fostered the thriving ecosystem of ETH and that the scams, shitcoins and hustles are inevitable either way.
I wonder if as the privacy aspect of blockchain technologies is debunked...over and over and over...if that deters future scams and shitcoins, etc. plus, future regulatory environment around all this. I can’t imagine that forensic blockchain investigations are anywhere near maturity. Add in future IRS interest...
I mean, there are extremely private blockchains? But surprise surprise, as the raison d'etre for their existence becomes "crime" the agencies responsible for suppressing "crime" tend to suppress those blockchains. My viewpoint on it is that there are two wolves in crypto - the one that allows greater efficiency and freedom in payments for law-abiding normies and the one that allows shady fucks to be shadier. Let's be clear: the criminal underworld didn't need crypto. Crypto basically allowed nerds to pretend to be criminal overlords for a few years. It again comes down to the foolish belief held by precocious sociopaths that they can beat the government at math and computing without recognizing that the government has the whole of the statute of limitations to crush them.