Topic: ETH hardfork incoming. - page 11. (Read 19064 times)
The soft fork is to save the Ethereum itself. I do not want to see a thief steal 3.6 million coins and dump on the market.
Im confused about this whole "ETH being forked" and all the controversy surrounding it.
In order for a successful fork to be pulled off by the devs, dont the miners have to majority agree to it for it to actually take place?
Isnt this still "whatever consensus rules?"
- OR -
Do the devs, single handedly have the power to enforce the fork w/o any sort of concensus?
If its the latter then, fuck ETH! Its a fucking scam and I cant support such a coin.
But, if its the former... well, isnt how all crypto works?
In order for a successful fork to be pulled off by the devs, dont the miners have to majority agree to it for it to actually take place?
Isnt this still "whatever consensus rules?"
- OR -
Do the devs, single handedly have the power to enforce the fork w/o any sort of concensus?
If its the latter then, fuck ETH! Its a fucking scam and I cant support such a coin.
But, if its the former... well, isnt how all crypto works?
I agree with what you wrote. In either case though the fork has to be first suggested by the developers (since they make the code changes). Then the question that needs to be asked is what are the criteria for these code changes? There are examples of other ETH being stolen previous to the DAO due to bad code and the developers never reacted (basically it was "sorry about your bad luck"). In the situation of the DAO the developers are heavily invested and suddenly theft due to bad code requires a fork.
The ethics are simply self interest of the developers. I'm all for self interest; but, the marketing apparatus is selling it as community driven. I think this upsets some people (which is understandable).
Repercussions need to be considered as well. Apparently the fix allows blacklisting of any ETH address in the future. This should worry anyone since once ETH becomes POS the stake holders and not miners will have unlimited control. Since the percentage of ETH mined is nothing in comparison to the percentage that was premined as a result a very small group will determine when a contract can be annulled.
That's my take on it.
Note: I have no intention of getting into a pissing match with the marketing group and as such won't respond to ignorance.
If the "attacker" wins, the Ethereum will be dead. If there is soft fork but no hard fork, the Ethereum holder will win, and there is some mining for miners in the near future.
It seems 20% of the miners in the ethpool.org do not agree with that. They do not think taking 4% etherum out of circulation is a good idea.
http://ethpool.org/stats/votes
http://ethpool.org/stats/votes
The "attacker" is winning. That was much less than 20% when I looked it a few hours ago.
Nobody in the DAO will ever get their tokens back.
Checkmate.
The "attacker" (aka noble crypto baron) has gained another 15% of support, now at 35% who won't vote for the fork. The baron will win. It is an economic certainty. Money talks, BS walks.
This bullshit about Ethereum will die if The DAO holders lose their funds is FUD. Ethereum will die if you fork it. Don't make the mistake of investing with retarded crowds, as you'll end up bankrupt and retarded.
BLAH BLAH
as if anyone here would not have supported a fork that would have returned the stolen Gox coins, for example
BTC would be 2000+ now without that; it was 1200 when Gox was destroyed
Now there is an opportunity to prevent a similar thing for ETH so just come to your senses
Also I highly doubt that ETH willl fork again; everyone deserves a 2nd chance.
as if anyone here would not have supported a fork that would have returned the stolen Gox coins, for example
BTC would be 2000+ now without that; it was 1200 when Gox was destroyed
Now there is an opportunity to prevent a similar thing for ETH so just come to your senses
Also I highly doubt that ETH willl fork again; everyone deserves a 2nd chance.
Im confused about this whole "ETH being forked" and all the controversy surrounding it.
In order for a successful fork to be pulled off by the devs, dont the miners have to majority agree to it for it to actually take place?
Isnt this still "whatever consensus rules?"
- OR -
Do the devs, single handedly have the power to enforce the fork w/o any sort of concensus?
If its the latter then, fuck ETH! Its a fucking scam and I cant support such a coin.
But, if its the former... well, isnt how all crypto works?
In order for a successful fork to be pulled off by the devs, dont the miners have to majority agree to it for it to actually take place?
Isnt this still "whatever consensus rules?"
- OR -
Do the devs, single handedly have the power to enforce the fork w/o any sort of concensus?
If its the latter then, fuck ETH! Its a fucking scam and I cant support such a coin.
But, if its the former... well, isnt how all crypto works?
Are you and your friends going to build a new coins similar to Ethereum but better? Will that be PoW mining?
Let's not talk about vaporware. I just want to say that there is a flaw and we need to fix it. And these aren't hollow words.
No forks!
You should buy some graphics cards to build some miners and have a say in the coming fork. You have about 20 days to do that.
That would dilute my capabilities. Others are better matched to that task. I am better matched to preparing a block chain that does everything Ethereum does but better, and which doesn't have a retarded culture.
Besides by miners voting, that means no matter the outcome, Ethereum is already broken. The Nash equilibrium is destroyed.
In fact, this is one of the flaws in Satoshi's design that I have a design fix for.
The miners should not have a vote! No one should have a vote. Politics and voting is what we intended to eliminate.
Are you and your friends going to build a new coins similar to Ethereum but better? Will that be PoW mining?
No forks!
You should buy some graphics cards to build some miners and have a say in the coming fork. You have about 20 days to do that.
That would dilute my capabilities. Others are better matched to that task. I am better matched to preparing a block chain that does everything Ethereum does but better, and which doesn't have a retarded culture.
Besides by miners voting, that means no matter the outcome, Ethereum is already broken. The Nash equilibrium is destroyed.
In fact, this is one of the flaws in Satoshi's design that I have a design fix for.
The miners should not have a vote! No one should have a vote. Politics and voting is what we intended to eliminate.
No forks!
You should buy some graphics cards to build some miners and have a say in the coming fork. You have about 20 days to do that.
If the majority of the miners accept the bribe and do not soft fork, the Ethereum is destroyed. The ethereum they get is worthless.
Miners not soft forking is not an indication that they accept the bribe. In some cases the miner simply objects to the purpose and intent of the fork.
If the majority of the miners accept the bribe and do not soft fork, the Ethereum is destroyed. The ethereum they get is worthless.
I think Nicehash could provide a rent service. Miners can rent their hash there, whoever pays the highest, get the hashing.
If the "attacker" is successful at winning the majority hashrate to defeat the fork, I expect a dump down quickly to $7 out of the corner of currently closing wedge.
Might get a bounce from there as many might perceive this as a victory for a decentralized Ethereum, although then potentially start the lawsuits from all the DAO losers. So a bounce could later be followed with a series of declines, eventually taking it down < $1. But as you say, this might take a while.
There are other scenarios though.
Might get a bounce from there as many might perceive this as a victory for a decentralized Ethereum, although then potentially start the lawsuits from all the DAO losers. So a bounce could later be followed with a series of declines, eventually taking it down < $1. But as you say, this might take a while.
There are other scenarios though.
That could happen. So why would the miners accept the bribe and destroy a long term business. i hope the miners will make a wise decision.
If the "attacker" is successful at winning the majority hashrate to defeat the fork, I expect a dump down quickly to $7 out of the corner of currently closing wedge.
Might get a bounce from there as many might perceive this as a victory for a decentralized Ethereum, although then potentially start the lawsuits from all the DAO losers. So a bounce could later be followed with a series of declines, eventually taking it down < $1. But as you say, this might take a while.
There are other scenarios though.
Might get a bounce from there as many might perceive this as a victory for a decentralized Ethereum, although then potentially start the lawsuits from all the DAO losers. So a bounce could later be followed with a series of declines, eventually taking it down < $1. But as you say, this might take a while.
There are other scenarios though.
Expect Ethereum 2.0 Mastercoin 3.0 however , these folks are married to the turing complete koolaid ICO.
FTFY
Nailed it. But realize that the entire switch to PoS has been this all along.
It will take a long time to die, absent some other unforeseen 'event'.
It will take a long time to die, absent some other unforeseen 'event'.
Yes, but the Casper PoS switchover was planned for later this year (but realistically 1st Q 2017 or later) would likely be moved up if funds started dwindling and price kept falling. Thus any switchover this year would potentially indicate a sense of desperation.
The event you speak of could be multiple targeted and repeated attacks within ethereum contracts directly which indeed could happen. We are finding out that solidity is not the only flawed language on the EVM; Serpent is vulnerable to similar problems.
http://www.joeykrug.com/home/a-serpent-send-exploit
This is what could indeed cause a general panic inducing both investors and a few developers to get out while they can .
Expect Ethereum 2.0 however , these folks are married to the turing complete koolaid.
Seems to me that confusion is going to mean an ETH price of less than $0.25 for both forks, so the future relative price of them is not relevant right now.
So it seems this is mostly a shorting game now, to convert your ETH to BTC.
And/or to accumulate more ETH cheaply, in hopes it will someday recover and not go to $0 (i.e. die).
I don't think that it will lose value quickly. At most slowly capitulate because founders , developers, and original die hard investors hold most of the coins so the market cap can , misleadingly , remain high. I have seen many shitcoins last a long time in such circumstances. Where we should be looking is the moment when staff at the ETH foundation start leaving due to not being paid and a rush to switch to PoS - this will be the stronger indicator of problems.
Nailed it. But realize that the entire switch to PoS has been this all along.
It will take a long time to die, absent some other unforeseen 'event'.
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