Is there a hard limit to the execution time of a transaction or is it capped only by his attached fee?
A contract can run a infinite loop until it runs out of ether. There is no hard cap. So someone having a good chunk of ether can freeze the network by broadcasting one hundred transactions that runs out of ether after some days of computation time? Depends on the fees. Assume they will adjust the fees in a reasonable way. And if so, it would not be the end of the world, one whealty will loose his wealth and depending on the fee strategy they will implement, the spended fee will make all others (or the minders) wealthier. Additionally if it turns out that this could become a real problem, to introduce a max. amount of steps for a contract should be also an option. |
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etotheipi,
what is the state of that project?
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Is there a hard limit to the execution time of a transaction or is it capped only by his attached fee?
A contract can run a infinite loop until it runs out of ether. There is no hard cap. |
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Thanks, k99 and Vitalik, that helps clear it up. I've put "On Transaction Fees, And The Fallacy of Market-Based Solutions" on my to-think-about-deeply list. I'm curious about this, though: Precisely; although with the proviso that the first 16 computational steps in contract execution are free, so if a contract is decently written you can't involuntarily send transactions to it to bankrupt it.
If my contract needs more than 16 computational steps to execute, then other people CAN send transactions to it to intentionally bankrupt it? That is what I was worrying about when I said "publish the attacker's transaction and take the fee but ignore any other effects of the transaction, but you'd have to be careful to design THAT mechanism so it couldn't be abused." As Vitalik mentioned a 0 Ether tx could be sent to a contract to activate it and cause some cost for the contract if it runs more then 16 steps. If the contract balance is 0 it will stop there. A flooding with 0 Ether tx is protected due the tx fee. As far as I understand a contract gets feeded by the tx activating it. So if a contract has been run out of its own contract funds, only tx with sufficient tx value will cause the contract to run (> 16 steps). For me it is not clear why a contract holds balance on its own and why the tx value is not enough to control the contract execution. If a contract is funded (contract balance >0) there is no incentive to send a tx with a value there (paying for the execution). |
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Okey dokey... so how do fees work in Ethereum?
Or do you have some other clever distributed way of preventing flood-the-system-with-bogus-contracts DoS attacks?
Here is my understanding how it works, hope Vitalik can give a more precise answer. A contract is associated with a balance. If the balance is 0 the contract will not be executed. A contract gets executed by sending a transaction to a contract. The tx needs to be funded, so I assume you cannot send a 0 Ether tx to a contract. That way you prevent to flood execution of unfunded contracts. So you have 2 times a fee in place to prevent attacks. The tx needs to be funded with a fee to activate a contract and the contract need to have some balance to get executed. If you have an endless loop, the loop consumes with every step some fee and after a limited time the contract run out of balance and stop. About fees: http://blog.ethereum.org/2014/02/01/on-transaction-fees-market-based-solutions/ |
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Unfortunately a voting thread cannot be edited afterwards to change the voting end date, which was set to 1.2. initially but as the fundrasing is postponed now, I would have liked to extend it.... So sorry that its already closed...
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>800 posts in 6 days. Shows interest in the project at least. The real motivation behind the posts will stay hidden, but if anyone thinks its just total bullshit, he would not use his time to post here.
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Why should they wast they time to answer to people who are incapable to read the official docs? >90% here is just FUD/totally unqualified posts.
People who really are interested should take at least 1 hour and read about it and try to understand it. Maybe not everything is so easy for the first moment and the IPO has some complexity, but to write SCAM without having any idea about it, disqualifies just yourself.
They will not listen to reason. Soon they will be in here again. The likes of gutshot5820 sleep now, but soon they wake... Reinforce the barricades! While we still have time! He is already a VIP member in my ignore list ;-) |
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I think all the people on here bashing it are just part of the promotion. Seriously, I could be wrong but those who think they can buy it cheaper later are nuts or don't really believe what they are saying IMO.
It's entirely possible that there's an organised campaign going on to scare people off. Even organised in the sense that different groups had the same idea to scare people off and are all on here in different capacities. Yes seems to me as well. Why are people who are not interested in investment waste so much time to warn others that they think Ethereum is a scam? - They want to invest and hope to keep the investors share small so they get a bigger percentage. - They are invested in other projects (copycat altcoins, crypto 2.0 projects, ripple) and fear that Ethereum will vanish all these projects if it succeeds. - Sock puppets (most of them are newbies) from guarilla marketing compaigns paid from other projects (fear of loosing investors) |
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I'm now getting more and more surprised by each passing day that NO ONE from the list has bothered to answer.
This really is looking more and more like a COMPLETE SCAM!
If anyone still thinks of investing on day 1, please read this thread from the beginning to the end. Please don't rush your decision.
Why should they wast they time to answer to people who are incapable to read the official docs? >90% here is just FUD/totally unqualified posts. People who really are interested should take at least 1 hour and read about it and try to understand it. Maybe not everything is so easy for the first moment and the IPO has some complexity, but to write SCAM without having any idea about it, disqualifies just yourself. |
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Will wait and see before I decide to invest.
Looks not too nice now.
Take you time and read the official information. The forums are full of waste unfortunately... |
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K99 interesting initiative. we see the Zipf distribution (power law) shaping out already as expected. maybe the non buyers can be infered by the thread views. Certainly this is not a randomized survey but a cue to consider.
I think there is probably a high volume of fake votes (> 1000, < 1). People who cannot accept that this is not an Ethereum pro/contra discussion thread where they can scrap their FUD.... Kindergarten somehow.... I will not take the results too serious, but was a try. |
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I think I've seen this thread before.....
Closed the other due too much Spam/FUD. It is not about a discussion pro/contra Ethereum here. It is simply a poll for people planning to invest. People not interested to invest are not invited to poll (that is why there is no 0). I will delete all other posts not respecting that statement. |
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k99, you're delusional. technically this is just a load of hokus pokus with 1-2 interesting ideas, which will simply not work in the short term. On top of that some people involved are being extremely dishonest. Vitalik is a very bright young guy, and should not ruin his reputation this way.
tl;dr: FUD |
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Dont spam the thread with FUD. That thread is not about your opinion, its for people planning to invest in Ethereum. |
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where is 0?
-> (if any) So if you are not interested, dont vote. u should have a 0 , <1 can mean 0.9999999 btc If you want to invest 1 BTC you are in the 1-5 range. The poll is just to get a VERY ROUGH view of the investment sentiment, and you need to take in account that there will be many fake votes as well in there... I did not include "0" as it is not intended as a vote pro/contra Ethereum. It is a poll for people who are interested in Ethereum and planning to invest. |
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36M? they have a cap of 30k BTC not 36M USD. As BTC is not recognized as money, all these law will not apply IMO. But I am not a lawyer, but Ethereum team has a lawyer. Would be good to get a statement from their side.
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