Topic: [ANN][X11][PoS only] NinjaCoin - Ninja Launch - Hard fork 1.2.2 - page 21. (Read 69071 times)

Some quick facts:

- The moneysupply is decided by the network.  There is no fixed number for Bittrex to compare against.  The moneysupply went up due to the dev's trojan, and if Bittrex checked against the moneysupply they would have been checking against the new huge number, just like everyone else on the network.

- Check the github tree.  The new 1.2.0 release was not submitted as a patch, the entire repo was replaced.  This was certainly intentional to try to make it harder to see what changed.  Both to hide how obvious the original trojan was, and probably to hide the new trojan that was added in 1.2.0.  There is likely no "correct" or "clean" fork, just a choice between two trojanned forks.

- The 1.2.0 release was committed by linked67, not the original dev.  Interesting.  Maybe he forgot to sign out of his real account and into his shill account.

- I lost money on this coin, but I don't blame Bittrex one bit.  They allowed people to buy and sell Ninjacoin, that is their role as an exchange.  Ninjacoin was a shitty trojanned product and there should have been no buyers, but lots of people bought anyway.  It's like blaming NYSE because Enron when bust.  Bittrex didn't force you to buy a shitty coin, they just gave you the opportunity to make a poor decision.  And in this case the source code was even out there for anyone to review and nobody did.

In summary if you bought this coin you bought a coin that was publicly designed to inflate the money supply at block 14000.  Bittrex allowed you to do that.  Congratulations on your purchase, next time you'll be more cautious about what you buy.  I know I will.

I'm not affiliated with Bittrex, just pointing out some facts.  Your hatred should be directed at the dev.

Fuck! A drive home from the office later and now this!?

Yeah, this can happen with any coin on Bittrex or not on Bittrex-- part of the risk of cryptocurrencies, such as they are. If you don't like exposing yourself to risks like these, you don't have to mine, invest, or trade.

I'm sure Bittrex cares that this happened, but it's not their responsibility. Their responsibility is to let you execute trades in a reliable way, not to take on any of the risks involved when you do that.

In the particular case of NJA, nobody at Bittrex could have known any sooner than anyone else that the oversupply was a mistake, a planned surprise by the dev, a coordinated scam, or whatever. It is not Bittrex's job to police the code of each new shitcoin beyond initial due diligence to see whether it's worth providing a marketplace for trading, and maintaining the flow of that trading.

Do you really think Bittrex lost anything from this? They got their trading fees and are still keeping it open for trading, the only people that actually lost anything are the users who are now NJA bagholders...

SHEEEET. Why I'm keep all this coins. Honor was fucked up, other coins was fucked up. This is getting annoying.

Look morons.  Bittrex got screwed on this and lost just as much as everybody else.  At least Richie has the balls to come on and explain what happened.  This is always a risk in crypto and the exchanges don't have enough staff to check every coin to the nth detail.  This kind of vetting and investigative work should be done by the community.

Using what as a supply guideline?  Random text in an ANN that we can't parse or the moneysupply value which is cryptographically sound?

*EDIT* Cryptographically sound is probably the wrong term since honestly a dev can return anything to us;  but it *should* be cryptographically sound.  Obviously malicious code is malicious.

So, in this words, You want to say that this situation can happen with any coin on Bittrex and You don't care about that?

Wallet updated to the hard fork, don't let the coin die !!!!

bittrex screwed up by not having a check in place if more coins than in existence land on it, i wouldn't be surprised if bittrex got the huge stake from all coins in exchange and dumped them themselves, i learned to know that it's a risk and i accept loses but this is a huge no no for a buisness (but since when were exchanges any buisness) good job bittrex and dev , another loss i learned from back to trading on MP and Cryptsy and Polo

looks like i already... awesome day... and still 1/2 of it left to go... wonder what else im in store for today

Yes but your exchange has no catches for this shit? Well that would be poor untested code. How is it possible a coin is meant to have 19 million total supply, but your exchange allows more than that to be deposited? Currently your exchange is allowing over 500 million coins to be deposited.. Don't you think your system should pick up on this and suspend the market immediately?  Not very secure for your clients. Polo is by far the best exchange now. Don't get goxed guys, pull your coins from Bittrex.

so??
sorry?
what about money??

People can blame me for my error, i don't hide it, it was my fault. But if you don't get on the right fork, people will loose money on the wrong fork because of you.

This is an unfortunate case where the dev screwed up and/or screwed us all.

We will NOT be taking a fork of this coin.  The damage is already done here.  Our systems worked as designed and our balances match including checking the moneysupply.  I would like to remind everyone that Bittrex is an exchange.  Our responsibility is to ensure that when you trade xxx A for yyy B, that it happens safely.  We do not police what is being traded.

Again, we will not be taking a new wallet or fork of this coin.  The damage done is irreparable and would have been after the first trade.  The market will remain open and we will let this die its natural death like so many coins before it.

Thanks
richie@bittrex

Bittrex needs to update their wallet and remove the invalid coins.  People who paid BTC for those invalid coins are going to be pissed.

Can someone explain how this fucking millions can be fixed?
What if someone keep millions and sell than on exchange?
Sorry, I do not understand clearly, this is just my hobby.