Re:Ethereum is Doomed
by cyphar on Monday June 20, 2016 @09:19PM
(#11942868)
This exploit wasn't legal either. It was blatantly fraud. I've asked a lawyer for their opinion and it was a very simple question to answer. Contracts are never entirely literal and usually there are implied clauses in contracts. There is a very simple test called the "officious bystander": if there had been a neutral bystander who had asked "should we allow anyone to take $50 million dollars without our consent" then unless both parties would've said "of course!" then it isn't considered to be a clause of the contract and it is just simply fraud. The developers of theDAO wouldn't have said "of course" so it's fraud.
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So, you are trying to be a great libertarian by doing without the courts of law and the state but then, when everything goes wrong with your money, you call for the opinion of the courts of law and for the state to enforce that opinion.
Oh the hypocrisy.
Right I would tend to agree. They really went out of their way though to say that the "code is the contract nothing else matters" I think that is where some of the doubt comes in.