bter hacked and lost 50m nxt

[rugrats]

you are creating a precedent here. It is totally a centralized decision which will set a precedent in the future when and if crypto will be accepted as global currency. It will create the option for big entity to bring his mining power in action whenever a rolling back will be in his favour. This is an unwritten rule. Crypto stands for irreversibility not for lets take another look and if it doesn't suits us lets rewrite history by using latent forces of mining whenever a rolling back suits us.

crypto will never be accepted as a global currency with these types of things happening on a regular basis.  I can understand not wanting to roll back the entire blockchain, but the patch that just rolls back the hackers transactions is a very reasonable solution. There has to be some form of "justice" or anarchy will reign and no one outside the crypto community will take any of this as a serious option.

THANK YOU. Freezing a single transaction on the blockchain is perfectly reasonable and sane. What are we, hardcore buddhists that practice radical acceptance of some guy just running away with 5% of the world supply of NXT when we could have just launched a new wallet and denied those to him? If somebody has 5% of the world NXT to play around with, NXT is dead. If the NXT community lets this opportunity go because of some dogmatic ideological belief, NXT will look like a joke and will truely die. The fact we can do this is ADDED VALUE to the blockchain. If you want your transactions to be truely irreversible, then move to a crypto where that is the case (none of them) and stop bowing down the entirely fallacious altar of of the free market.

Jean-Luc just posted the limited rollback solution a short while ago (which I still don't understand btw, since it only disables outgoing TX from BTER's wallet, not the hacker's). This discussion precedes that by a couple of hours.

[TR8888]

Rollback is madness, Your store coins on exchange and it gets hacked, You lose them, Simple!

Rollback goes against everything Crypto.

[niothor]

Again a "hacked" exchange.

With a lot of exchanges popping up to take a piece of the trade fees pie , with coins price going down , why i'm not amazed that it's happening again?

[niothor]

you are creating a precedent here. It is totally a centralized decision which will set a precedent in the future when and if crypto will be accepted as global currency. It will create the option for big entity to bring his mining power in action whenever a rolling back will be in his favour. This is an unwritten rule. Crypto stands for irreversibility not for lets take another look and if it doesn't suits us lets rewrite history by using latent forces of mining whenever a rolling back suits us.

crypto will never be accepted as a global currency with these types of things happening on a regular basis.  I can understand not wanting to roll back the entire blockchain, but the patch that just rolls back the hackers transactions is a very reasonable solution. There has to be some form of "justice" or anarchy will reign and no one outside the crypto community will take any of this as a serious option.

THANK YOU. Freezing a single transaction on the blockchain is perfectly reasonable and sane. What are we, hardcore buddhists that practice radical acceptance of some guy just running away with 5% of the world supply of NXT when we could have just launched a new wallet and denied those to him? If somebody has 5% of the world NXT to play around with, NXT is dead. If the NXT community lets this opportunity go because of some dogmatic ideological belief, NXT will look like a joke and will truely die. The fact we can do this is ADDED VALUE to the blockchain. If you want your transactions to be truely irreversible, then move to a crypto where that is the case (none of them) and stop bowing down the entirely fallacious altar of of the free market.

Yes , next time it will be a gambling site that will get it's wallet frozen because some accuses of cheating , then maybe a shop , then persons , ...and the Pandora box is open.

Who decides if the transaction should be frozen? A bunch of people.
Just like the government and the fed is doing it.

[Febo]

you are creating a precedent here. It is totally a centralized decision which will set a precedent in the future when and if crypto will be accepted as global currency. It will create the option for big entity to bring his mining power in action whenever a rolling back will be in his favour. This is an unwritten rule. Crypto stands for irreversibility not for lets take another look and if it doesn't suits us lets rewrite history by using latent forces of mining whenever a rolling back suits us.

crypto will never be accepted as a global currency with these types of things happening on a regular basis.  I can understand not wanting to roll back the entire blockchain, but the patch that just rolls back the hackers transactions is a very reasonable solution. There has to be some form of "justice" or anarchy will reign and no one outside the crypto community will take any of this as a serious option.

THANK YOU. Freezing a single transaction on the blockchain is perfectly reasonable and sane. What are we, hardcore buddhists that practice radical acceptance of some guy just running away with 5% of the world supply of NXT when we could have just launched a new wallet and denied those to him? If somebody has 5% of the world NXT to play around with, NXT is dead. If the NXT community lets this opportunity go because of some dogmatic ideological belief, NXT will look like a joke and will truely die. The fact we can do this is ADDED VALUE to the blockchain. If you want your transactions to be truely irreversible, then move to a crypto where that is the case (none of them) and stop bowing down the entirely fallacious altar of of the free market.

lol 5% end of world?

How much BTC is mined?
How much Satoshi have?
What % that is?

[TR8888]

Rollback is madness, Your store coins on exchange and it gets hacked, You lose them, Simple!

Rollback goes against everything Crypto.

Why don't you go join a crypto that actually forbids rollbacks (none of them), and leave us trying to make a practical and sensible decision, undisturbed by your dogmatic ideologic beliefs that are entirely irrelevant since the blockchain is NOT EVEN BEING ROLLED BACK as it only involves the single theft transaction? Are you shilling for the thief?

Blabla, At the end of the day, The network is being changed because of BTER's lack of security, This is just like VRC on Mintpal a short while ago, No matter how you dress it up.

Shilling for the thief? Just talking common sense, Not blinded by a big bag.

[devphp]

This incident will make NXT stronger.

[niothor]

This incident will make NXT stronger.

I think i saw those kind of statements in the vrc thread also...What happened next?

[Chris001]

you are creating a precedent here. It is totally a centralized decision which will set a precedent in the future when and if crypto will be accepted as global currency. It will create the option for big entity to bring his mining power in action whenever a rolling back will be in his favour. This is an unwritten rule. Crypto stands for irreversibility not for lets take another look and if it doesn't suits us lets rewrite history by using latent forces of mining whenever a rolling back suits us.

crypto will never be accepted as a global currency with these types of things happening on a regular basis.  I can understand not wanting to roll back the entire blockchain, but the patch that just rolls back the hackers transactions is a very reasonable solution. There has to be some form of "justice" or anarchy will reign and no one outside the crypto community will take any of this as a serious option.

THANK YOU. Freezing a single transaction on the blockchain is perfectly reasonable and sane. What are we, hardcore buddhists that practice radical acceptance of some guy just running away with 5% of the world supply of NXT when we could have just launched a new wallet and denied those to him? If somebody has 5% of the world NXT to play around with, NXT is dead. If the NXT community lets this opportunity go because of some dogmatic ideological belief, NXT will look like a joke and will truely die. The fact we can do this is ADDED VALUE to the blockchain. If you want your transactions to be truely irreversible, then move to a crypto where that is the case (none of them) and stop bowing down the entirely fallacious altar of of the free market.

You need to stay the hell out of crypto and go back to you bank debit card and paypal, you dont belong here.  

[devphp]

This incident will make NXT stronger.

I think i saw those kind of statements in the vrc thread also...What happened next?

VRC was too centralized I think, NXT is not. It could hurt NXT short-term, that's not out of the question.

[Fuserleer]

Heh these guys complaining about rolling back, ideology etc sure would be banging a different drum if they had a large amount of Nxt stolen.

[Chris001]

you are creating a precedent here. It is totally a centralized decision which will set a precedent in the future when and if crypto will be accepted as global currency. It will create the option for big entity to bring his mining power in action whenever a rolling back will be in his favour. This is an unwritten rule. Crypto stands for irreversibility not for lets take another look and if it doesn't suits us lets rewrite history by using latent forces of mining whenever a rolling back suits us.

crypto will never be accepted as a global currency with these types of things happening on a regular basis.  I can understand not wanting to roll back the entire blockchain, but the patch that just rolls back the hackers transactions is a very reasonable solution. There has to be some form of "justice" or anarchy will reign and no one outside the crypto community will take any of this as a serious option.

THANK YOU. Freezing a single transaction on the blockchain is perfectly reasonable and sane. What are we, hardcore buddhists that practice radical acceptance of some guy just running away with 5% of the world supply of NXT when we could have just launched a new wallet and denied those to him? If somebody has 5% of the world NXT to play around with, NXT is dead. If the NXT community lets this opportunity go because of some dogmatic ideological belief, NXT will look like a joke and will truely die. The fact we can do this is ADDED VALUE to the blockchain. If you want your transactions to be truely irreversible, then move to a crypto where that is the case (none of them) and stop bowing down the entirely fallacious altar of of the free market.

Yes , next time it will be a gambling site that will get it's wallet frozen because some accuses of cheating , then maybe a shop , then persons , ...and the Pandora box is open.

Who decides if the transaction should be frozen? A bunch of people.
Just like the government and the fed is doing it.

This is no different than nodes confirming and forging transactions like it happens all the time. The nodes determine which ones are valid and push them onto the network. In this case, the majority determines that that transaction is not valid and makes the blockchain grow based on that.

You're simply too confused to talk about this.

It's precisely the OPPOSITE of how the government and fed are doing it.

We are talking about the majority of the actors in the NXT network (you and me) choosing to forget about a single transaction. This is just about the most decentralised and democratic action that could take place. Have you lost your freaking mind?

Hello, dumbass, are you hearing what you are saying?

"lets get together and not count a REAL transaction". GREAT IDEA?   IT IS
SUICIDE!!

[Viper1]

You need to stay the hell out of crypto and go back to you bank debit card and paypal, you dont belong here.  

So what you're saying is that crypto currency will never be accepted by big business or the masses. Thought the whole idea was for it to eventually become something that could replace fiat etc? lol

[devphp]

The NXT protocol allows to rewrite the last 720 blocks with transactions in them if 51% of forgers decide to do it. This is by design until TF is implemented. We're now going to find out if 51% of forgers are for or against rewriting history, in about 15-16 hours. So basically, it's all standard operation, maybe a stress test mode for NXT network if you wish.

[Chris001]

You need to stay the hell out of crypto and go back to you bank debit card and paypal, you dont belong here.  

So what you're saying is that crypto currency will never be accepted by big business or the masses. Thought the whole idea was for it to eventually become something that could replace fiat etc? lol

Where did I say that crypto can't be mass adopted? Im waiting

[Este Nuno]

you are creating a precedent here. It is totally a centralized decision which will set a precedent in the future when and if crypto will be accepted as global currency. It will create the option for big entity to bring his mining power in action whenever a rolling back will be in his favour. This is an unwritten rule. Crypto stands for irreversibility not for lets take another look and if it doesn't suits us lets rewrite history by using latent forces of mining whenever a rolling back suits us.

crypto will never be accepted as a global currency with these types of things happening on a regular basis.  I can understand not wanting to roll back the entire blockchain, but the patch that just rolls back the hackers transactions is a very reasonable solution. There has to be some form of "justice" or anarchy will reign and no one outside the crypto community will take any of this as a serious option.

THANK YOU. Freezing a single transaction on the blockchain is perfectly reasonable and sane. What are we, hardcore buddhists that practice radical acceptance of some guy just running away with 5% of the world supply of NXT when we could have just launched a new wallet and denied those to him? If somebody has 5% of the world NXT to play around with, NXT is dead. If the NXT community lets this opportunity go because of some dogmatic ideological belief, NXT will look like a joke and will truely die. The fact we can do this is ADDED VALUE to the blockchain. If you want your transactions to be truely irreversible, then move to a crypto where that is the case (none of them) and stop bowing down the entirely fallacious altar of of the free market.

You need to stay the hell out of crypto and go back to you bank debit card and paypal, you dont belong here. 

Don't you see the difference between a centralised single entity(PayPal) and a decentralised group voting on a chain?

For the record I'm not for or against rollbacks.

But the amount of ignorance as to what decentralisation is somewhat amazing.

[niothor]

This incident will make NXT stronger.

I think i saw those kind of statements in the vrc thread also...What happened next?

VRC was too centralized I think, NXT is not. It could hurt NXT short-term, that's not out of the question.

bter is frozen and no trades on cryptsy in the last hours... any other exchanges to get a look at the price?

[Chris001]

The NXT protocol allows to rewrite the last 720 blocks with transactions in them if 51% of forgers decide to do it. This is by design until TF is implemented. We're now going to find out if 51% of forgers are for or against rewriting history, in about 15-16 hours. So basically, it's all standard operation, maybe a stress test mode for NXT network if you wish.

You can NOT rewrite history and be taken seriously


IF anything is changed it will change Nxt forever. There will be Nxt before this and Nxt after this. Any deliberate change to the history of Nxt transactions will make Nxt going forward Nxt.V2 for all practical purposes.

[devphp]

The NXT protocol allows to rewrite the last 720 blocks with transactions in them if 51% of forgers decide to do it. This is by design until TF is implemented. We're now going to find out if 51% of forgers are for or against rewriting history, in about 15-16 hours. So basically, it's all standard operation, maybe a stress test mode for NXT network if you wish.

You can NOT rewrite history and be taken seriously

This is no different from Bitcoin. If 51% of miners decide to rewrite history, they can secretly mine a longer chain and reverse all txs in the orphaned chain. Bitcoin is taken seriously. Not by all.

[devphp]

bter is frozen and no trades on cryptsy in the last hours... any other exchanges to get a look at the price?

Dunno, those were the biggest, maybe dgex.com, but price would be all over the place now, I think, no reason to look at it, unless you want to buy some cheap NXTs, some people would panic sell I guess.