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Author Topic: 2nd Ethereum bailout is almost here. INFIGHTING?  (Read 144 times)
bbc.reporter
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April 18, 2018, 12:56:33 AM
Last edit: April 26, 2018, 01:16:27 AM by bbc.reporter
 #1

Does everyone remember the frozen Parity funds? Let this article remind you of how its developer froze the funds by accident.

https://www.coindesk.com/startup-lost-160-million-still-wants-shake-ethereum/

It now appears that Ethereum might be closer in undergoing on a 2nd bailout. EIP867 entitled Standardized Ethereum Recovery Proposals is now merged in.

https://github.com/ethereum/EIPs/blob/master/EIPS/eip-867.md

I reckon the Parity developers will be bailed out by the end of 2018, the same as the DAO bailout. Yes, code is law hehehe.

This begs the question, why is there a need for decentralization in Ethereum?



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April 18, 2018, 01:18:04 AM
 #2

No immutability, no decentralization...
They should not be called blockchain  Grin

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April 19, 2018, 01:07:18 AM
 #3

Yes hehehe. Lord Vitalik will use flowery words and confusing jargon to manipulate and force everyone to accept that refunding any frozen funds to his friends, at present and in the future, is good for the future of the platform.

Ethereum is turning into a political and administrative horror.

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April 20, 2018, 01:25:28 AM
 #4

Here is another EIP striving for a bailout by leaving it to a community vote. Vitalik's friends does not know how to give up it seems hehehe.

https://github.com/ethereum/EIPs/blob/master/EIPS/eip-999.md

You can cast your votes in here.

https://www.etherchain.org/coinvote/poll/35

Does anyone remember what happened the last time it was left to a community vote?

If no, read this article and read the comments.

https://www.cryptocompare.com/coins/guides/the-dao-the-hack-the-soft-fork-and-the-hard-fork/

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April 20, 2018, 01:35:55 AM
Merited by bbc.reporter (1)
 #5

Does everyone remember the frozen Parity funds? Let this article remind you of how its developer froze the funds by accident.

https://www.coindesk.com/startup-lost-160-million-still-wants-shake-ethereum/

It now appears that Ethereum might be closer in undergoing on a 2nd bailout. EIP867 entitled Standardized Ethereum Recovery Proposals is now merged in.

https://github.com/ethereum/EIPs/blob/master/EIPS/eip-867.md

I reckon the Parity developers will be bailed out by the end of 2018, the same as the DAO bailout. Yes, code is law hehehe.

This begs the question, why is there a need for decentralization in Ethereum?

Do you even know a thing about software development or the implications described in that EIP? By nature of your post, you probably know nothing much about it. The EIP does not ask for a rollback or "bailout" of the Ethereum blockchain or its transactions. Let me put it in simpler terms you may understand:

The EIP simply wants to re-upload the missing lines of code that will allow users to access their wallet funds. There will no transactions that will be reversed aside from that line of code.

Off topic:
Seen your other posts and all you seem to do is spread FUD. Negative news sells eh? Your username suits you. Told like a true mindless sell-out news reporter.

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April 20, 2018, 01:38:22 AM
 #6

Yes hehehe. Lord Vitalik will use flowery words and confusing jargon to manipulate and force everyone to accept that refunding any frozen funds to his friends, at present and in the future, is good for the future of the platform.

Ethereum is turning into a political and administrative horror.

This is one of the reasons why Ethereum failed to overtake Bitcoin, despite being technologically superior. Once you lose the trust, it is very difficult to get it back. Freezing funds and refunding coins goes against the very principle of decentralized crypto-currency.
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April 20, 2018, 01:47:08 AM
 #7

Yes hehehe. Lord Vitalik will use flowery words and confusing jargon to manipulate and force everyone to accept that refunding any frozen funds to his friends, at present and in the future, is good for the future of the platform.

Ethereum is turning into a political and administrative horror.

This is one of the reasons why Ethereum failed to overtake Bitcoin, despite being technologically superior. Once you lose the trust, it is very difficult to get it back. Freezing funds and refunding coins goes against the very principle of decentralized crypto-currency.

Another legendary but non-sense and possibly paid FUD poster.

No offense but maybe you should read the first post before yours? This guy clearly states that there will be NO freezing or refunding of coins:

The EIP simply wants to re-upload the missing lines of code that will allow users to access their wallet funds. There will no transactions that will be reversed aside from that line of code.

You seem bitter. Did you lose the chance to investment on Ethereum early on? Lol.

 
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April 20, 2018, 02:18:47 AM
Merited by jmigdlc99 (1)
 #8

Does everyone remember the frozen Parity funds? Let this article remind you of how its developer froze the funds by accident.

https://www.coindesk.com/startup-lost-160-million-still-wants-shake-ethereum/

It now appears that Ethereum might be closer in undergoing on a 2nd bailout. EIP867 entitled Standardized Ethereum Recovery Proposals is now merged in.

https://github.com/ethereum/EIPs/blob/master/EIPS/eip-867.md

I reckon the Parity developers will be bailed out by the end of 2018, the same as the DAO bailout. Yes, code is law hehehe.

This begs the question, why is there a need for decentralization in Ethereum?

Do you even know a thing about software development or the implications described in that EIP? By nature of your post, you probably know nothing much about it. The EIP does not ask for a rollback or "bailout" of the Ethereum blockchain or its transactions. Let me put it in simpler terms you may understand:

The EIP simply wants to re-upload the missing lines of code that will allow users to access their wallet funds. There will no transactions that will be reversed aside from that line of code.

Off topic:
Seen your other posts and all you seem to do is spread FUD. Negative news sells eh? Your username suits you. Told like a true mindless sell-out news reporter.

Thank you. This is the kind of threads and discussions that we should be having more. I will be happy to admit my mistakes but I do not appreciate being called a fudster. My posts are how I see it and also trying to find more about it. If you prove me wrong, then good, the discussion is more important to me. But there is no need to attack someone's character in the forum. That is not constructive.

There is a moral hazard in unfreezing those funds because it can create an adhoc environment where it can be manipulated by determined parties or by some adversaries.

 

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April 20, 2018, 03:08:24 AM
 #9

Thank you. This is the kind of threads and discussions that we should be having more. I will be happy to admit my mistakes but I do not appreciate being called a fudster. My posts are how I see it and also trying to find more about it. If you prove me wrong, then good, the discussion is more important to me. But there is no need to attack someone's character in the forum. That is not constructive.

Point taken, sorry about that. Admittedly i am an Ethereum fan-boy myself and can sometimes become over zealous about incorrect information that gets posted about it.

There is a moral hazard in unfreezing those funds because it can create an adhoc environment where it can be manipulated by determined parties or by some adversaries.

That being said, I still don't quite see how this can become an environment which can be manipulated. Ethereum development and EIPs are assessed and planned in a case-to-case basis and the beauty of it is that in extreme cases like this, where people's life savings are at stake, the community has a voice and can make a difference.

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April 21, 2018, 01:25:28 AM
 #10

Thank you. This is the kind of threads and discussions that we should be having more. I will be happy to admit my mistakes but I do not appreciate being called a fudster. My posts are how I see it and also trying to find more about it. If you prove me wrong, then good, the discussion is more important to me. But there is no need to attack someone's character in the forum. That is not constructive.

Point taken, sorry about that. Admittedly i am an Ethereum fan-boy myself and can sometimes become over zealous about incorrect information that gets posted about it.

There is a moral hazard in unfreezing those funds because it can create an adhoc environment where it can be manipulated by determined parties or by some adversaries.

That being said, I still don't quite see how this can become an environment which can be manipulated. Ethereum development and EIPs are assessed and planned in a case-to-case basis and the beauty of it is that in extreme cases like this, where people's life savings are at stake, the community has a voice and can make a difference.

If there was real democracy in the system then maybe, and not certainly, there might be no problem. But there is none. Vitalik is a centralizing figure who can influence and maybe even manipulate the Ethereum community to go in a direction him and his friends want. Remember the DAO?

Yes with EIP867, it would be much easier to sway the crowd because bailouts will require no hardforks.


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April 23, 2018, 12:54:44 AM
 #11

The votes are 70% for yes and 30% for no with only 2 days left to go. Well I reckon the community has spoken. But whether Vitalik and the Ethereum developement team decides to fork and restore the Parity funds is another problem. The memories of the DAO might still be fresh in their minds hehehe.

I hope they hardfork. It might become another good show.



The question we’re asking is how might markets react following the final result this Tuesday or Wednesday. And of course we have no crystal ball, so we might get it very wrong. However, we’ll try think it through logically as we see it.

The first, somewhat unknown, is how will “leaders” react. Public blockchains are of course decentralized, no one has the means to enforce anything, but that doesn’t mean leaderless. There’s some difference between say Buterin, or Gavin Wood, and just some guy, with “leaders” kind of setting the tone for the rest.

Will they respect the result? Is very much the main question. We think they should, because there is no better decision making mechanism, no better way to get to a yes or no.

But it is very easy to dismiss the result. The remainers in Brexit are trying to do that by saying they didn’t really know what they were voting for. In America, of course, we had that all “not my president” thing.

But he is the president, and Britain is leaving, because the only way to reach a somewhat objective decision where all can respect it is by allowing all to voice their opinion on the vote and then have a norm where they have to accept the result. Otherwise it’s chaos.


Read the whole article https://www.trustnodes.com/2018/04/22/ethereum-takes-620-might-parity-vote-affect-markets

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April 25, 2018, 02:00:43 AM
 #12

EIP999 was shutdown with the NO votes winning by a small margin with 55%, the YES votes had 39.4% and the don't care votes had 5.6%.

But that is not the only propsal that seeks to unlock the Parity funds and do any future bailouts. There as the more potent EIP867. Do not be distracted.

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April 25, 2018, 02:27:00 AM
 #13

The votes are 70% for yes and 30% for no with only 2 days left to go. Well I reckon the community has spoken. But whether Vitalik and the Ethereum developement team decides to fork and restore the Parity funds is another problem. The memories of the DAO might still be fresh in their minds hehehe.

I hope they hardfork. It might become another good show.



The question we’re asking is how might markets react following the final result this Tuesday or Wednesday. And of course we have no crystal ball, so we might get it very wrong. However, we’ll try think it through logically as we see it.

The first, somewhat unknown, is how will “leaders” react. Public blockchains are of course decentralized, no one has the means to enforce anything, but that doesn’t mean leaderless. There’s some difference between say Buterin, or Gavin Wood, and just some guy, with “leaders” kind of setting the tone for the rest.

Will they respect the result? Is very much the main question. We think they should, because there is no better decision making mechanism, no better way to get to a yes or no.

But it is very easy to dismiss the result. The remainers in Brexit are trying to do that by saying they didn’t really know what they were voting for. In America, of course, we had that all “not my president” thing.

But he is the president, and Britain is leaving, because the only way to reach a somewhat objective decision where all can respect it is by allowing all to voice their opinion on the vote and then have a norm where they have to accept the result. Otherwise it’s chaos.


Read the whole article https://www.trustnodes.com/2018/04/22/ethereum-takes-620-might-parity-vote-affect-markets
Man, I know that how the 3rd party fault becomes the responsibility of ethereum platform right now.

DAO is the best example how it leads to the worst story.

But, shouldn't it be every hacking case won't give any responsibility to the ethereum platform to hardfork it again?

If this is how consensus works and then fork will be everywhere.

That leads to the so many forks. We know that crime is everywhere.

 
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April 26, 2018, 01:21:10 AM
Last edit: April 26, 2018, 01:53:11 AM by bbc.reporter
 #14

Update on EIP999's progress. The NO votes won but there is a group in the Ethereum community who is still fighting for a bailout. According to this article there is another concern that this infighting might cause another split.

But do not be distracted. The issue might be used to railroad the merging of EIP867.

Read the article https://www.coindesk.com/even-ethereums-top-developers-think-blockchain-split-might-inevitable/

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