MEW - Monero Economy Workgroup communication
A taskforce is set up to address the issue of a possible "BCX exploit", and an ultimatum by BCX to find and fix it in 72 hours lest a serious attack is launched upon Monero.
The taskforce consists of several Monero developers, AnonyMint, CZ, jl777 and me.
There are differing opinions in the taskforce concerning the severity of the threat. No coinkiller is yet found and several avenues are probed. The members who have technical competence are talking about their views themselves.
Regardless of the outcome in the technical side, this is a serious economic attack on Monero - about 15% of the pre-ultimatum value is lost, and there is a great information asymmetry plaguing traders currently. It is notable that nobody has offered to borrow XMR for shorting (which I could provide against full guarantee deposit of BTC). Neither has anyone bought the PUT options. This means that the downside speculation has so far been limited to selling out from a trader's own stash. An economically motivated player who knows for sure about a lethal attack might decide to take leverage for personal gain.
I believe that the Monero devs are up to their task and can mitigate the potential exploit, and fix the code in preparation of the announced attack. I further believe that Monero will rise even stronger. Since I am not in possession of any knowledge that indicates that a realistic attack could take place, I can only estimate the probability that it exists unnoticed, and my estimate is 4-8%.
The MEW will be inaugurated on Tuesday, and also the devteam has important announcements (not related to the attack). Provided that our coin still exists, I am sure we have a great future ahead of us as a community with these new methods of organizing our activities for the mutual benefit.
His prior version of that which he sent to us in a PM stated that I had not discovered anything that smooth and fluffy had not already known. And that he trusts them more than me (and jl777). That irked me, because smooth knows I had not given him anything final and was in a mad rush to characterize and refine my understanding of ability to break the anonymity.
It irked me not only because he said that to us, but because apparently fluffy and or smooth rushed to tell him that "he found nothing", without giving me time to sleep, wake up and digest their whitepaper and finish refining my anonymity attack algorithm.
Couple that with the posts fluffy made as I awoke today, and I am sorry but I don't think these guys are respectful.
Doesn't feel right to me. I am doing sleep deprivation and they are busy dissing me behind my back.
Who is in charge? Sounds like fluffy and smooth are?
