bter hacked and lost 50m nxt

[r0ach]

If I have learned anything in the world of crypto. It's just when you think nothing can get worse just when you think everythings at an all time low Mark Karpeles will walk his fat fucking ass into the room and spill a boiling hot frappucino all over your computer. Mark my words thinks are about to get worse.

[V500]

you morons still keep storing incredible amounts of coins at exchanges. Are you too dumb to use a wallet at your own computer or what's the deal with that?

[TaunSew]

you morons still keep storing incredible amounts of coins at exchanges. Are you too dumb to use a wallet at your own computer or what's the deal with that?

Two words:  Day Traders

[madalieninvader]

If I have learned anything in the world of crypto. It's just when you think nothing can get worse just when you think everythings at an all time low Mark Karpeles will walk his fat fucking ass into the room and spill a boiling hot frappucino all over your computer. Mark my words thinks are about to get worse.

LOL. Thanks for brightening the mood. On second thought I don't if this scares me or enlightens me, but I needed a good laugh.

[23781946]

IS there an update? what is the situation now?

[meganite]

If I have learned anything in the world of crypto. It's just when you think nothing can get worse just when you think everythings at an all time low Mark Karpeles will walk his fat fucking ass into the room and spill a boiling hot frappucino all over your computer. Mark my words thinks are about to get worse.

https://i.imgur.com/w2Ly27i.jpg

Awesome. 

[lanbo]

Bter should be responsible enough for what has happened. They're the one who should pay the price from a  successful hack, not their loyal users.

[Nautica]

Bter should be responsible enough for what has happened. They're the one who should pay the price from a  successful hack, not their loyal users.

Any community willing to compromise rolling back transactions that happened since a supposed fuck up or hack of a exchange using NXT is not a community that is honest as it is putting one business' fuck up before people's honest transactions.

That should be made very clear of the implications of the rollback.

The fork is not happening, but the devs clearly underlined the fact that the transactions made after the hack will still be recomputed and validated by the network. There would have been no loss, except for the hacker's.

Most forgers are for irreversability of transactions, which is one of the main ideas of crypto currencies.

This could appear to be the case, but even if it were true, there's no reason for that not to change. This is also because the issue is often presented as a false dilemma. I'm sure people learn more on the nature and mechanisms of the blockchain and what forking it really means will calm the usual agitation around the issue and sharpen the debate around what's really at stake.

[Spoetnik]

If the hacker does not get to keep his NXT then the dev team has fucked up bad and NXT is doomed.
It already had a bad enough reputation and it's had TONS of drama in the past so this will just seal it's fate.

I never liked these NXT guys anyway so please do your rollback.. fuck em !
This latest news just proves their greedy morons..

what kind of centralized dipshits decide who gets to keep their coins ?
so the dev team decided that the hacker does not deserve his coins so they are deleting them ? WOW !
in other words NXT is dead.
that shit won't fly with the public LOL

and you could tell they were dead set on doing a rollback from the start anyway and
have been dancing around it because they can tell 80% of guys don't like the idea !

[Nautica]

that shit won't fly with the public LOL

and you could tell they were dead set on doing a rollback from the start anyway and
have been dancing around it because they can tell 80% of guys don't like the idea !

You'd be surprised. I've found a lot of support for the notion of forking the blockchain to defend its practical and moral integrity. Ultimately, it's all really a false dilemma. You really do have the choice between two scenarios, live in a world where the theft happened, and life in one where it didn't. Which one would you pick? What this decision entails is not being able to transact with people who chose otherwise. Doesn't this just force you to pick the side that is more economically viable to you, thus reinforcing the notion of a self-regulating market based on the decisions of its participants? If most people want to prevent the theft from happening, why would you not go along with them? Transactions made after the theft will still count. You have nothing to lose unless you're the hacker. It's the free market in action, choosing a blockchain over another one, people voting with their clients and picking which blockchain they like best.

[evergrow]

I just read this thread, holy shit!

[Zebedee23]

If the hacker does not get to keep his NXT then the dev team has fucked up bad and NXT is doomed.
It already had a bad enough reputation and it's had TONS of drama in the past so this will just seal it's fate.

I never liked these NXT guys anyway so please do your rollback.. fuck em !
This latest news just proves their greedy morons..

what kind of centralized dipshits decide who gets to keep their coins ?
so the dev team decided that the hacker does not deserve his coins so they are deleting them ? WOW !
in other words NXT is dead.
that shit won't fly with the public LOL

and you could tell they were dead set on doing a rollback from the start anyway and
have been dancing around it because they can tell 80% of guys don't like the idea !

fuck off

[STT]

Why cant exchanges be decentralised or is this not in their benefit.    Ive heard of ideas where the funds remain with the original party and the exchange only enables the trade not controls the funds themselves, seems to be more in line with how it should be.    Perhaps if two wallets could be kept then access to one could be granted for the exchange, theres all sorts of possibles that discourage handing over control to potentially one person to hold.      Storing everything in a blob is asking for trouble always ?

If the thief cannot sell to another exchange as he is blacklisted then he will try to sell privately.   Is his address listed or known on this thread so that private traders could also know or would that do the opposite and facilitate

[IMZ]

My Mob decided our policy after the VRC rollback. Rollbacks are a mistake.

Mark (IndiaMikeZulu), Australia

[hl5460]

While this is still an ongoing event, bter updates its twitter releasing the news that it will not rollback, but similar information has  not been released on its weibo, keeping the Chinese  in dark.
8btc chose to publicze the information to the Chinese. The lack of crisis PR has been exposed, which also provides a good lesson to other peers.
Now btc38 still allow NXT/BTC/CNY trades with 60% volume.

[tinof]

Rollback will discourage scammer to game the system and possibly make NXT a potentially better coin than BTC.

[Skoupi]

If the hacker does not get to keep his NXT then the dev team has fucked up bad and NXT is doomed.
It already had a bad enough reputation and it's had TONS of drama in the past so this will just seal it's fate.

I never liked these NXT guys anyway so please do your rollback.. fuck em !
This latest news just proves their greedy morons..

what kind of centralized dipshits decide who gets to keep their coins ?
so the dev team decided that the hacker does not deserve his coins so they are deleting them ? WOW !
in other words NXT is dead.
that shit won't fly with the public LOL

and you could tell they were dead set on doing a rollback from the start anyway and
have been dancing around it because they can tell 80% of guys don't like the idea !

After 17 pages this is the best post i have read so far.
Kids are allowed to argue about rollback or not.
Idiots may compare the current situation with rollbacks happened in btc because of bugs.
Forgers can actually decide if they will rollback or not. (And luckily for nxt they have decided wisely)

But the developers reaction was unacceptable. To provide a patch for users to decide if they want to rollback a single transaction? Are they for real?
Imo this was the biggest blow to nxt.

[devphp]

NXT is a social experiment as its founders like to say, devs give forgers a choice, so that forgers can exercise their right to vote with their forging power. That's the reason for this patched release. This goes to show the spirit of forgers and what they stand for. If they weren't offered a choice, it would be unknown what forgers stand for, and whether they truely support ideas of crypto currency. NXT forgers proved they do. You can keep trying to twist it as if it's not in NXT favor, but for all unbiased people it's clear to see what it's all about. But trolls gonna troll, it's their life.

[Skoupi]

NXT is a social experiment as its founders like to say, devs give forgers a choice, so that forgers can exercise their right to vote with their forging power. That's the reason for this patched release. This goes to show the spirit of forgers and what they stand for. If they weren't offered a choice, it would be unknown what forgers stand for, and whether they truely support ideas of crypto currency. NXT forgers proved they do. You can keep trying to twist it as if it's not in NXT favor, but for all unbiased people it's clear to see what it's all about. But trolls gonna troll, it's their life.

So why don't they introduce this as a permanent feature? Give forgers the option to whitelist or blacklist every single transaction at will.
Maybe with a nice thumbs up button.   
Do you know why? Because this would be the shittiest of all alt-coins...

[devphp]

NXT is a social experiment as its founders like to say, devs give forgers a choice, so that forgers can exercise their right to vote with their forging power. That's the reason for this patched release. This goes to show the spirit of forgers and what they stand for. If they weren't offered a choice, it would be unknown what forgers stand for, and whether they truely support ideas of crypto currency. NXT forgers proved they do. You can keep trying to twist it as if it's not in NXT favor, but for all unbiased people it's clear to see what it's all about. But trolls gonna troll, it's their life.

So why don't they introduce this as a permanent feature? Give forgers the option to whitelist or blacklist every single transaction at will.
Maybe with a nice thumbs up button.   
Do you know why? Because this would be the shittiest of all alt-coins...

Actually forgers can do that on their own, NXT is open source, just like in Bitcoin miners can do that.
They can modify the software to include or not include txs.
If 51% (or 90% soon when Transparent Forging is enabled) of forging/mining power agrees to use the same modified software, then an alternative longer chain can be formed. That's the beauty of crypto currencies and that's basics of crypto currencies too