Topic: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread - page 480. (Read 1276928 times)

Can someone please explain what happens when two people try to sell at the bid price at the same time? Who gets the fill?
This is fundamental issue with Decentralized Distributed Exchanges.

Busoni,  Were all of the withdrawals by the hacker in BTC?  Or were some of the hacker withdrawals in XCP too?

There was a blockchain rollback with NXT a few months ago too, I remember as one of my trades went missing and had to ask the seller to resend at the time. I don't remember it impacting the price. I think most people realize these things can happen, better when it's early on than later.

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Okay, so if I were to roll back the dump, Poloniex would be short about 80 BTC. I have messaged the hacker again, and hopefully he will stick to his word. His actions don't really seem consistent with someone who just wanted to steal BTC--as I said, he left about 35 BTC in his account. Why he decided to make a mess, though, I don't know.

As I don't think he has the XCP to cover the dump, I'm probably going to end up trying to roll back the trades. This might get a little complicated, though, as I didn't see it happen right away and people withdrew XCP after the dump. I'm going to wait until tomorrow (about 12 hours from now) to hear back from him, and then I will most likely start rolling back the trades.

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Thx, I think you are doing a good job. What is your mood towards taking on more developers for providing a more stable foundation for the growing project and working on finding bugs like the last one earlier? (I dont blame you guys, just saying 6 eyes see more then 4. Or 8, or 10..)
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Could someone please confirm this statement is correct?

As we don't operate a foundation with millions of dollars in funding, our ability (and desire) to hire and retain a large team is limited, and moreover is against the ethos of the project. As the core team, our mandate (i.e. https://counterparty.co/wiki/counterparty-project-principles) is purposefully restricted, and we intend to stay within that. However, especially as the value of XCP increases we will likely add some dedicated development strength in a way that is controlled and reasonable, while at the same time being very effective. We are currently exploring some possibilities along these lines.

That all being said, ultimately XCP's success will lie in the growth and participation of the social network around it. Counterparty is all about the opportunities that it enables for entrepreneurs, developers, financial professionals, and more. For instance, in the long term, we would love to see additional client implementations (like libbitcoin/sx is vs bitcoind, for instance) and much more diversity, in order to even further increase the security of the network and reduce any remaining potential points of failure, human or otherwise. We would also love to see Counterparty itself become so successful that it essentially takes backstage to the inventions and creations running on it. This project was never about its creators -- the focus has to remain on the creation itself, and the groundbreaking things that it enables for both Bitcoin and finance in general.

Is there really any hard evidence that Mastercoin and NXT are not indeed ahead of us at this point ?

Thx, I think you are doing a good job. What is your mood towards taking on more developers for providing a more stable foundation for the growing project and working on finding bugs like the last one earlier? (I dont blame you guys, just saying 6 eyes see more then 4. Or 8, or 10..)

Due to the present rapid speed of development, it's definitely better at this time to build from source over using the windows installers (as they may lag behind the newest source updates...generally I try to update at every new version number but sometimes it may take a bit of time to get to this).

As Counterparty continues to mature, these version updates will become less frequent, and using the windows binaries (or any binary-based counterpartyd install) will make more sense.

The Counterparty team would like to thank the community with being patient as we collectively work through this issue. We really appreciate it.

As others have mentioned, these kinds of issues are not unique to XCP. However, that does not lessen the severity of security issues in our eyes. One of our main focuses throughout the protocol and reference client design was, and very much still is, to make things as simple and straightforward as possible for exactly these kinds of reasons (i.e reduced attack vectors, less chance for bugs).

At this point, Counterparty has started to gain the success and market value that has begin to attract many people to it. This is good, but -- like Bitcoin or any other innovative digital currency -- it also increases the stakes of any potential security issues found. Therefore, in short order we will be announcing a generous security bug bounty program which will be driven by donations from all of us in the community. Hopefully this should help bring extra eyes on the code to chase out any flaws, and compensate the talented individuals that do assist on this front.

We remain committed to making the distributed exchange as useful and straightforward as possible. The newest clients include updates to the DEx functionality that should hopefully take care of the troll order issue. Our plan is to see how these changes play out in the market, and do further tweaking as is necessary.

Regarding Poloniex, I know we are all awaiting busoni's assessment of the situation, and we can collectively decide on the best course of action based on that.

Thanks again to everyone for working through XCP's maturation process with us.

You could uninstall and install the latest binaries created by xnova or update from source
http://counterpartyd-build.readthedocs.org/en/latest/

This creates a bit of a mess for busoni to clean up. No matter which way we approach this, someone is going to be unhappy. Original Depositors of XCP are safe because it is not their trades that got executed and the reparse has restored their balances in the central wallet. The best way forward is for 0.002 transactions to be rolled back and hacker return bitcoins because the deposit of 35k XCP has an invalided input.

I don't understand how the hacker is considered benevolent. A white hat would have exposed the vulnerability without causing such a mess to clean up. Even if he withdrew 35k to prove a point, depositing it back and dumping it does not show good intentions IMO To me it seems like he knew a patch release will invalidate his XCP holdings and therefore he made away with as many bitcoins as he could take and until he returns them back to busoni my opinion will not change.

The discussion regarding XBTC/BTC/DAC/Escrow was evolving nicely until this came along, maybe we should pursue that discussion in a separate thread in the counterparty forums.

After re reading some pages back it seems more like he made off with around 70 BTC and left 35 BTC in his account.



emphasises by me.

Hey Spekulatius,  out of curiosity, where did you see the 30 BTC figure? 

How do you upgrade counterparty?

Thanks

So now the exchange is out of ~30 BTC? If the white hat/hacker doesnt return the loot it is up to them to cover the loss or push it onto their customers, if they want to continue to make business with Counterparty users and crypto in general I would strongly advise them to cover it.

The Buyers of todays cheap XCP are of course happy because their cheap Bids were filled.

The Sellers, which also include a random amount of buyers it seems, incase the attacker took from Poloniex' XCP wallet indescrimately of whether the coins belonged to buyers or sellers, are not so happy because their XCP were sold against their express consent. On the other hand, with the recent upheavel and concern surrounding the attack, the protocol and the devs decision to roll back everybodies balance like that, the price will most likely take a plunge before things return to normal. So the sellers may proof very lucky that they got a comparatively good price before we go back down.

Is there any estimation of when the trade can be resumed at poloniex?

Also currently I cannot cancel my open orders, can this be fixed before the trade is resumed?

but how the process to be doing, or what  the time before should be rolled back.

or If that happens, won't i that bought at 0.002 lose because my lose my bitcoins and my xcp?

Yes you can buy XBTC on the DEX and that will be prone to btcpay.

The proposal was to have an external service such as an exchange or DAC to purchase XBTC for BTC and vice versa.