Bitcoin Forum

Such as the cryptsy theft? Would there be a way to roll back the block chain to undo the theft?

are you asking for chargeback solution with bitcoin? no way, and in any case it need to be done with an hard fork, which will never get any real consensus pretty much like XT

why couldnt it get consensus this is going to crash btc

Lol sure, we had it coming for months. I don't want BTC to turn into useless PP crap, neither does over 80% of the community.

it will not, it will only make the range 300-400 more solid, since more buyers will be tempted to buy cheaper coins thx to the hacker that is know dumping 13k coins form cryptsy

the same happened with bitstamp, does bitcoin died because the hacker dumped 19k coins? no, we reached 480 as a peak after that incident

Like Amph said, if you can get sufficient consensus for a viable hard fork, you can do this. It's not likely, though, since setting a precedent that BTC can be taken from you by community decision is much worse than the fact that sometimes people steal BTC.

Ok so maybe its generally bad but all these coins are still in the same wallets since they were stolen so they know exactly which ones have been stolen so no one really has to get their coins taken

They've already been taken. According to Cryptsy anyway, all you have is their word that those coins came from them.

assuming a forensic audit makes it certain they are the cryptsy coins

cryptsy "dun goxed" and blamed hackers from 18 months ago.. (we know vern ran with the money, hense why he closed the office to not be traced or slapped with a wet fish)
and strangely is now running a new exchange in china.

but lets play along with verns excuse of hacking
the only way to prevent hacking is not to have wallets on the same IP/server as the front-end (website).
this can be done so easily using databases to store requests and a separate server/system reads those requests and processes them OFFSITE.

that way the main server does not reveal the location of the offsite system because its not pushing data out. its just storing data locally and the offsite system looks in..

there should be no reason ever to have hotwallets on the server that the website front end is also on

If you "roll back the blockchain" then you are stealing from all the people that were smart enough not to send bitcoins to Cryptsy, since all of their transactions would become unconfirmed and all the rewards that miners received (as well as all the transactions that were based on those rewards) would vanish.

So, you are suggesting fixing a loss of bitcoins by those that trusted Cryptsy by stealing from everyone that trusted the blockchain?  And this would somehow restore faith in the blockchain?

No thanks.  I feel bad for those that lost funds at Cryptsy.  I know several people personally that lost funds at MtGox.  Eventually people will need to learn not to trust uninsured, unregulated, un-audited, incompetent businesses with their bitcoins. If you lost bitcoins at Cryptsy, consider it tuition for an important lesson in life.

Rolling back blockchain doesn't guarantee any sort of thefts to be fixed as everything will get messed up due to all the transactions being invalid ahead of that theft transaction...

Bitcoin is fungible  ;D

Very nice idea. Let's roll back the block chain 18 months.

Every transaction that happened after that is suddenly gone. Everybody who traded something for bitcoin can say good bye to their coins. They are also gone.

With the current usage of bitcoin, you cannot even roll back the blockchain 5 minutes without causing major problems.