bter hacked and lost 50m nxt

[Chris001]

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, it will start with a single transaction and after, what will be the next good decision? Ban an account because it's a big one or I don't know what over crap excuse?
Did you see what happened to VRC as soon as the rollback has been done? VRC death.

Bter will disappear? I don't care, that's natural selection.

People lost their money because they left it at Bter?  I don't care, that's natural selection.

Thanks for the comments guys. I was starting to think I was the only one with a brain here. lol

[GreenDude]

People not wanting a rollback of the hacker transaction are selfish and idiots and jealous morons. Why? because if the dont have nxt they dont give a fuck. Well man.. u r in cryptos and this will affect them. as jl said people will never trust or invest in ANY crypto if this keeps happening. I dont have nxt but i think a rollback should be done. This way not only decentralized but with a community who can avoid coins to be stolen even after the rob happened. That is a big thing who only idiots can see like something bad.

[Este Nuno]

A simple google search of the devs email reveals alot of entries

linhan.ee@gmail.com

He even published some kind of university paper

http://ieeexplore.ieee.org/stamp/stamp.jsp?arnumber=6269914

Why can't anyone just find this guy?

That's the Bter guy not the hacker I believe.

[r0ach]

If NXT does a rollback on the blockchain, they are essentially killing their own coin.  They will do themselves more harm than the thief who stole 50m.

NXT was already a completely illiquid asset with the lowest trade volume of any coin over $2 market cap.

Even with a hacker selling millions of coins, the market volume is still abysmal lol:

http://coinmarketcap.com/

[Spoetnik]

Question 1: Has anyone verified, or rather, is anyone capable of verifying that the theft really happened? Or is the NXT community going to take BTER's word for it?

The theft is recorded on the blockchain:

http://www.mynxt.info/blockexplorer/details.php?action=ac&ac=1244396688755618309

You can see the 50 million get transferred and the messages that he sent from his account.

You can see the transfer, but you don't know the reason for said transfer.
Of course, the most likely reason is theft.
However, there could also be other reasons. I feel communities should not blindly take the word of exchanges.


Edit: I just learned that the alleged thief posted a ransom note on the blockchain.

We can trade these NXT for some bitcoins to make life easier for you, and me.
Hypothetically speaking, who would know if an exchange was behind something like this in the first place?

more smart people talking..

[Spoetnik]

Hypothetically speaking, who would know if an exchange was behind something like this in the first place?

This is a very good point -- one can't actually. An exchange could pull this show off. However, this would not be in the economic interest of an exchange as it would tarnish its image significantly.

i am officially offering my image for sale for 2 million dollars worth of coins.. hell you know what i will sell it for 1 million

i am dead serious too !
i am broke and could use the money so if anyone out there wasn't to send me a million dollars usd then lets work out a deal
i'd take the money just the same as 100% of the people here talking LOL

[Chris001]

Hypothetically speaking, who would know if an exchange was behind something like this in the first place?

This is a very good point -- one can't actually. An exchange could pull this show off. However, this would not be in the economic interest of an exchange as it would tarnish its image significantly.

i am officially offering my image for sale for 2 million dollars worth of coins.. hell you know what i will sell it for 1 million

i am dead serious too !
i am broke and could use the money so if anyone out there wasn't to send me a million dollars usd then lets work out a deal
i'd take the money just the same as 100% of the people here talking LOL

If this happens I am going to propose a rollback of the blockchain. It seems to be an option these days, sadly.  

[Lauda]

If you roll it back, NXT is definitely not decentralized.
This will make it centralized and even more useless.

[ShroomsKit_Disgrace]

If you roll it back, NXT is definitely not decentralized.
This will make it centralized and even more useless.

You are retarded right?

If the majority of the forging power wants to forge in an alternative chain, it is the most decentralized decision ever made. Every forger has in his hands to forge or not the alternative chain.

[Nautica]

If you roll it back, NXT is definitely not decentralized.
This will make it centralized and even more useless.

You mean, if a majority of users decide in a decentralised and consensual way to start using another blockchain, then that is centralisation?

You are forgetting that the blockchain has always relied on the majority of users to establish history. What you are saying means that it's always been "centralised" around 51% of the hashing. This has always and will always be the case. Forking the chain actually uses this very principle.

[Coinr88]

If you roll it back, NXT is definitely not decentralized.
This will make it centralized and even more useless.

Bullshit. A rollback can only happen if the majority of the forgers decide to do so. That's a democratic process and has nothing to  do with centralisation

[michaelb87]

If you roll it back, NXT is definitely not decentralized.
This will make it centralized and even more useless.

What are you talking about? It couldn't be more decentralized. Majority decides, not one single entity...

[Chris001]

If you roll it back, NXT is definitely not decentralized.
This will make it centralized and even more useless.

You are retarded right?

If the majority of the forging power wants to forge in an alternative chain, it is the most decentralized decision ever made. Every forger has in his hands to forge or not the alternative chain.

It's also a the dumbest decision ever made. You can not rewrite history because it is the right thing to do. Rewriting history is NEVER the right thing to do, if you want ANY credibility that is.

[ShroomsKit_Disgrace]

LOL one more time Lauda is getting a nice round of ass wiping because of his/her small brain.

[BitJohn]

50 million NXT is a huge amount of money. That's almost $2 million. Just realized that I had about $50 worth of Nxt in there. On the Nxt forums, the community is discussing a rollback. Fortunately, I had about 2/3 of my balance in Poloniex. Hope they don't get hacked too.

There should never be and never should have been any rollbacks on cryptocurrencies unless 100% of NXT users are affected by it (absolutely 100%). If Bter the community do decide to perform a rollback, cryptocurrency will be treated as a joke.

"@#&^ I SOLD AT A LOSS, PLS ROLLBACK"

You said the smartest thing in crypto of the year easily !

This deserves repeating ~

There should never be and never should have been any rollbacks on cryptocurrencies unless 100% of NXT users are affected by it (absolutely 100%). If Bter the community do decide to perform a rollback, cryptocurrency will be treated as a joke.

Hey Spoetnik and I agree on something.

[ShroomsKit_Disgrace]

If you roll it back, NXT is definitely not decentralized.
This will make it centralized and even more useless.

You are retarded right?

If the majority of the forging power wants to forge in an alternative chain, it is the most decentralized decision ever made. Every forger has in his hands to forge or not the alternative chain.

It's also a the dumbest decision ever made. You can not rewrite history because it is the right thing to do. Rewriting history is NEVER the right thing to do, if you want ANY credibility that is.

Could be dumb, or couldn't be.

The truth is that it is totally decentralized.

[Nautica]

It's also a the dumbest decision ever made. You can not rewrite history because it is the right thing to do. Rewriting history is NEVER the right thing to do, if you want ANY credibility that is.

Do you really think anybody will forget this whole drama? Or maybe you are getting confused between a political concept from when you read 1984 in high school and a practical, technical issue that revolves around majority voting?

[TaunSew]

If you could go back in time and rewrite history by shooting Adolf Hitler, to make the world a better place, would you do it?!  

Think of the millions you could save and the world would be a better place!

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Meanwhile Stalin since the 1920s had been amassing a huge army (23,000 tanks in 1941) with the intent of conquering the world.  He himself, like Hitler, was planning his own holocaust and had already down a genocidal Holodomor (a death by starvation).  If Stalin was unopposed and he conquered Western Europe or the world, he likely would had thrown your grandparents into a Gulag where they would had been worked to death, or starved them to death.

http://en.wikipedia.org/wiki/Doctors%27_plot
http://en.wikipedia.org/wiki/Gulag
http://en.wikipedia.org/wiki/Holodomor
http://en.wikipedia.org/wiki/Soviet_deportations_from_Estonia




Be careful when you guys talk about rewriting history.  The Soviet Union did it by removing Einstein from the time continuum and all it led to was an angry Japan trying to kill everyone!

https://www.youtube.com/watch?v=at5sM6jdRNg

[Chris001]

It's also a the dumbest decision ever made. You can not rewrite history because it is the right thing to do. Rewriting history is NEVER the right thing to do, if you want ANY credibility that is.

Do you really think anybody will forget this whole drama? Or maybe you are getting confused between a political concept from when you read 1984 in high school and a practical, technical issue that revolves around majority voting?

What is so hard about keeping things the way they happened? Talk about morality and this and that, the currency stays the same, no matter what the people do with it.

What is so hard to understand about that? Why don't people understand that this is a very important feature for a currency to have.

Like I said, all of you supporting a rollback or change/patch really are in the wrong place. You really are!!!

[Elokane]

It's also a the dumbest decision ever made. You can not rewrite history because it is the right thing to do. Rewriting history is NEVER the right thing to do, if you want ANY credibility that is.

So if I hack into the bank and steal money and the police catch me, forcing me to give it back, they're "rewriting history"?

You have a weird definition for history.