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0 pointsgreyface-4y ago0 comments

> No $GME rug pulls like what we saw earlier this year.

Not true. https://en.wikipedia.org/wiki/Ethereum#The_DAO_event

Just like $GME, we have a handful of well-connected actors overriding the rules that typically govern the system, in response to a valid but unusual outcome that they don't like personally.

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chrisco2554y ago

The Ethereum DAO event wasn't a rug pull. It was a bug.

There was a fork, which is a wonderful feature of blockchains. The original fork with the DAO hack still in place still exists: https://ethereumclassic.org/

Use that if you like. But clearly the community as a whole decided to repair the damage and move on. A fork like that would be too costly to pull off today. In addition, the maturity and growth of audit firms such as OpenZeppelin, have led to more secure DAOs, etc.

But by all means, use ETC if purism matters to you. Crypto is a free, open source movement.

greyface-OP4y ago

$GME wasn't a rug pull. It was a market maker making a market.

There was a suspension of buys, which is a wonderful feature of retail brokerages. The security is still purchasable today, so no one was permanently harmed.

Clearly, the industry as a whole decided to repair the damage done by retail investors and move on. A naked short like that would be too costly to pull off today. In addition, many investors have learned from the experience.

But by all means, reject the comparison.

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