CIYAM (OP)
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Ian Knowles - CIYAM Lead Developer
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August 04, 2016, 04:36:38 PM |
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We have seen the hacking attack of reportedly 60M USD from Bitfinex and the attack of the DAO for reportedly around double that amount.
But after both attacks we have seen two very different things happen.
In the case of the Bitfinex attack there isn't even the slightest suggestion that some sort of "hard fork" would be offered by the Bitcoin Core developers (so they are just going to have to wear their loss for their mistake) but in the case of Ethereum we have now ended up in a "fork war" with ETH vs. ETC (and ironically ETC is actually the "original" code with ETH now being a fork).
Opinions?
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MingLee
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August 04, 2016, 04:43:38 PM |
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We have seen the hacking attack of reportedly 60M USD from Bitfinex and the attack of the DAO for reportedly around double that amount.
But after both attacks we have seen two very different things happen.
In the case of the Bitfinex attack there isn't even the slightest suggestion that some sort of "hard fork" would be offered by the Bitcoin Core developers (so they are just going to have to wear their loss for their mistake) but in the case of Ethereum we have now ended up in a "fork war" with ETH vs. ETC (and ironically ETC is actually the "original" code with ETH now being a fork).
Opinions?
Bitcoin is looking better than ETH because of the fork war dragging down the value of ETH, while raising the value of ETC at the same time. It's kind of a game of numbers, ETC is doing better than Bitcoin %-wise, but Bitcoin doesn't have to drag down the value of a "twin"-crypto in order to generate value itself. I've never been a fan of Ethereum, so you'll have to take this comment with a grain of salt, but considering that Bitcoin has gone through multiple hacks in the past and never had to fork to recover, it's probably doing much better than the ETX line of cryptos. |
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Holliday
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August 04, 2016, 05:26:25 PM |
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In the case of the Bitfinex attack there isn't even the slightest suggestion that some sort of "hard fork" would be offered by the Bitcoin Core developers
Opinions?
To be fair, one Core contributor did make a slight suggestion which would certainly result in a fork. You can't really say this was from the Bitcoin Core developers though (other Core contributors were quick to disagree with maaku, which caused some backpedaling from him). https://www.reddit.com/r/Bitcoin/comments/4vupa6/p2shinfo_shows_movement_out_of_multisig_wallets/d61qyajAnyway, it's certainly nothing like that which came from the Ethereum foundation after the DAO coding fail (I personally don't think it's correct to call those events an "attack", after all code was law). |
If you aren't the sole controller of your private keys, you don't have any bitcoins.
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European Central Bank
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August 04, 2016, 05:27:03 PM |
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i'm all for a hard fork to address a technical fault or a tweak that's almost unanimous to benefit the protocol.
other than that it's too big a leap into the unknown, especially if it's because of a third party disaster. that's not the protocol's business. all it should do is operate correctly. eth was operating correctly. now two ethereums are operating correctly. that does not seem good to me.
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CIYAM (OP)
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Ian Knowles - CIYAM Lead Developer
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August 04, 2016, 05:29:13 PM |
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i'm all for a hard fork to address a technical fault or a tweak that's almost unanimous to benefit the protocol.
That would generally be a "soft fork" (i.e. let it be tested and maybe supported rather than be ordered). This is why "soft forks" in Bitcoin typically require a lot of support (above 90%) before becoming the new "rules". |
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Kprawn
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August 04, 2016, 05:31:21 PM |
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Bitcoin are not going to rollback for anyone, and that should be a positive being taken out of this. Ethereum has just shown their weakness and there are no way to hide it. Let them fork off in any direction they want to, we should focus on Bitcoin, not some Alt coin that rub shoulders with banks. I am also not very biased when it comes to Ethereum, and have been vocal about it for some time. To me it looks like a sophisticated pump n dump scheme.  |
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Cuidler
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August 04, 2016, 09:46:32 PM |
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No bailout is the right approach. Many in crypto world feel this way, thats why there is surviving etc. Im not sure why so many Ethereum developers preffered the bailout, but my theory is basically every Ethereum developer and most eth investors invested in the DAO, so they all have conflict of interest and preffer the bailout to fix their mistake and get their money back.
Now compare it with Bitcoin, there are so many services already, so when one service fail, only very small percentage of developers/services/people lost Bitcoin there, and if the few become loud to argue for bailing out their mistake, they would be shut down by the majority (without the conflict of interest) with the arguments bailout is really the wrong approach.
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bestluck
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August 04, 2016, 11:13:04 PM |
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For bitcoin we do not need any hard fork, as we want bitcoin as it is, and any change in there will lose its image, and bitcoin is now a normal use currency and in normal currency we need care for our money not fork like techniques, and bitcoin is a currency with highest market cap, so bitcoin is more better than any other coin like ethereum.
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philipma1957
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'The right to privacy matters'
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August 04, 2016, 11:30:22 PM |
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Bitcoin are not going to rollback for anyone, and that should be a positive being taken out of this. Ethereum has just shown their weakness and there are no way to hide it. Let them fork off in any direction they want to, we should focus on Bitcoin, not some Alt coin that rub shoulders with banks. I am also not very biased when it comes to Ethereum, and have been vocal about it for some time. To me it looks like a sophisticated pump n dump scheme. while i may or may not agree with what I just wrote. I can tell you some people do. anyone that held big Eth and was saved by the fork will always think better of ETH then anyone that held big BTC and was lost due to no fork. I see a place for fork free coins and easy to fork coins. I also know that if BTC wants to fork they will . So personally I think BTC is a step behind ETH-ETC not ahead. Besides BTC has yet to fix its scaling issue of about 700,000 max transaction a day and in practice 300,000 are done a day. I like the idea of a BTC hard to fork stone chain with a ETC/ETH easy to fork chain. Solves a lot of technical issues |
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7788bitcoin
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August 05, 2016, 01:34:09 AM |
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To bitcoin, Bitfinex is not important- it is just one of the many many exchanges, just that it is slightly bigger. Bitcoin can continue without Bitfinex.
To Ethereum, DAO is almost everything. It is almost the only useful "application" of Ethereum. DAO hack is equivalent to an Ethereum hack. This is why Vitalik needed to hard fork ethereum to reverse the theft- to secure the Ethereum network. Ethereum is almost dead without DAO.
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shinratensei_
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August 05, 2016, 01:47:36 AM |
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To bitcoin, Bitfinex is not important- it is just one of the many many exchanges, just that it is slightly bigger. Bitcoin can continue without Bitfinex.
To Ethereum, DAO is almost everything. It is almost the only useful "application" of Ethereum. DAO hack is equivalent to an Ethereum hack. This is why Vitalik needed to hard fork ethereum to reverse the theft- to secure the Ethereum network. Ethereum is almost dead without DAO.
Okay, that's right, caused by there is another exchange than bitfinex. and the bitcoin is already globally and it's impossible to make a manipulation like ETC vs ETH or the DAO cases. |
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Mr.K
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August 05, 2016, 02:16:09 AM |
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Whether to hard fork or not, it's all about belief and interest.
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Red-Apple
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August 05, 2016, 02:42:07 AM |
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i don't follow DAO-ETH technical stuff that much but from what i have read so far it seems like the problem aka theft was because of the poor code in ethereum that allowed the theft to happen hence the hard fork.
in comparison the theft in bitcoin (bitfinex) has nothing to do with bitcoin and the code hence no need for fork or anything.
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--signature space for rent; sent PM--
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Decoded
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give me your cryptos
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August 05, 2016, 02:46:06 AM |
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Of course it is. Ethereum's hard fork was the worst idea in the history of crypto. A big popular altcoin, being torn apart by what, a hack? Something that's done is done. It shouldn't be undone.
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looking for a signature campaign, dm me for that
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X-ray
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August 05, 2016, 04:44:43 AM |
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To bitcoin, Bitfinex is not important- it is just one of the many many exchanges, just that it is slightly bigger. Bitcoin can continue without Bitfinex.
To Ethereum, DAO is almost everything. It is almost the only useful "application" of Ethereum. DAO hack is equivalent to an Ethereum hack. This is why Vitalik needed to hard fork ethereum to reverse the theft- to secure the Ethereum network. Ethereum is almost dead without DAO.
but still bitfinex have so many funds from various people around the world if you say bitfinex is not important then it's like saying $60 million is not an important thing,but see how much your wealth right now |
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Kakmakr
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August 05, 2016, 05:41:16 AM |
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Of course it is. Ethereum's hard fork was the worst idea in the history of crypto. A big popular altcoin, being torn apart by what, a hack? Something that's done is done. It shouldn't be undone.
If you have to fork Bitcoin for every little hack, we would have 1000's of little side-chains floating around. Ethereum has created a problem for themselves now, because for the next hack, they will have to fork again. Ok, I exaggerated a little, but you get what I am trying to say. Bitcoin has had a similar thing happening to them, and it was quickly patched up and hidden away in the archives. ^smile^ |
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marky89
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August 05, 2016, 05:54:51 AM |
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We have seen the hacking attack of reportedly 60M USD from Bitfinex and the attack of the DAO for reportedly around double that amount.
But after both attacks we have seen two very different things happen.
In the case of the Bitfinex attack there isn't even the slightest suggestion that some sort of "hard fork" would be offered by the Bitcoin Core developers (so they are just going to have to wear their loss for their mistake) but in the case of Ethereum we have now ended up in a "fork war" with ETH vs. ETC (and ironically ETC is actually the "original" code with ETH now being a fork).
Opinions?
Fortunately, I think this has set the fork-at-any-cost camp back in a huge way. I think they realize that their only chance to get big blocks is to fork without any suggestion of majority or consensus. I think some of the more extreme big-blockers see the viability of both ETH and ETC as a reason to say "let's fork and let the market decide." Terrible idea, but there will always be some around here who are willing to break consensus for their agenda. |
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CoinBreader
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August 05, 2016, 06:26:18 AM |
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We have seen the hacking attack of reportedly 60M USD from Bitfinex and the attack of the DAO for reportedly around double that amount.
But after both attacks we have seen two very different things happen.
In the case of the Bitfinex attack there isn't even the slightest suggestion that some sort of "hard fork" would be offered by the Bitcoin Core developers (so they are just going to have to wear their loss for their mistake) but in the case of Ethereum we have now ended up in a "fork war" with ETH vs. ETC (and ironically ETC is actually the "original" code with ETH now being a fork).
Opinions?
Nothing happen with Gox , bitcoin go on, fix its wounds,(dont believe the same for the investors) , so Finex it was just an exchange, no major app of btc was hacked, and i dont want to think the option ! really!! |
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bitcapitalist
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August 05, 2016, 06:47:38 AM |
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Bitcoin is looking better than ETH - It's coming to its original price before the Bitfinex hack. ETH Dropped a lot, and I don't see the future in this alt coin. Stick to Bitcoin  |
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smho_16
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August 05, 2016, 06:50:46 AM |
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What's got bitcoin core developers got to do with an "inside job" that happened in an exchange ? I don't think is fair to blame them for the hacking which for me is not a hack but an inside job. Nothing to do with it. Its just the greediness of the people running bitfinex or at least one or a few of them which have made this move. Bitcoin is of course looking better as a lot of other exchanges have been hacked in the past and bitcoin resisted to all of these situations.
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