I don't understand how a rollback can be accomplished. Please explain if I'm missing something.
For miners it would mean any blocks that they find would just disappear back to the moment of the rollback? If so miners would not want to adopt the new code or at the least should stop mining now (waste of electricity).
All transactions back to the moment of the rollback would just disappear? If so how could that be accomplished? If a user transfers all their ETH to an exchange now sells it for bitcoin, transfers bitcoin out of exchange now, after the roll back doesn't he have his ETH back plus the bitcoin? Doesn't the buyer lose all thier ETH? I understand Kraken has stopped trading ETH (but their CEO has been very supportive of ETH from start?); but, not all other exchanges have followed through.
Seems like a rollback just does not make sense. Is considering one just marketing so those in the know can get their money out?
Topic: ETH hardfork incoming. - page 15. (Read 19070 times)
This is very interesting..
As they say - IF they can somehow 'FIX' this.. (rollback / blacklist / some other thing) it means any government that wants it's ETH back can 'FIX' that too.. very dangerous.
I think Ethereum should 'NOT GET INVOLVED'. At all. The truth is that the ETH network is running completely fine.
Let DAO sort it out if they can. And if not.. a lesson learned.
hmm..
This will probably send us(crypto) back a few years in credibility though..
It is not that simple as you say. Vitalik was one of its Curators along with many others, he put his credibility on the Dao. If it was someone elses project i could agree with you, but he is part of the team and for that i aspect him to take responsability for it. Ethereum is a much larger project, it is not about ETH only, thinking small like that will never get ETH the future it is designed for, btw smart contracts is all about that otherwise it is only a coin.
So.. now 'they' are going to 'convert' (shutdown) DAO into a simple contract that allows you to withdraw your funds and nothing more..
https://twitter.com/DanDarkPill/status/743789597482692608
How in 'Holy Hell' are they able to completely rewrite the ETH code when it was meant to be a completely Decentralised Autonomous Organisation.. !?
I just don't get it..
Me thinks someone has more power over this DAO than they should have.. or anyone thought they would have.
https://twitter.com/DanDarkPill/status/743789597482692608
How in 'Holy Hell' are they able to completely rewrite the ETH code when it was meant to be a completely Decentralised Autonomous Organisation.. !?
I just don't get it..
Me thinks someone has more power over this DAO than they should have.. or anyone thought they would have.
Seen this shit from a mile along, self hacks with fake coverage should be nothing new to bitcoin people.
Do you think the developers hacked the DAO? If so, why would they invalidate the coins with a hard fork?
rollback is madness, don't do it!
Seen this shit from a mile along, self hacks with fake coverage should be nothing new to bitcoin people.
This isn't a hack actually. The function is proper and were always in the code for DAO. In a sense it is legit, the contract does what it supposed to do :
"There is an attack going on against "theDAO". A recently discovered recursive-split attack can be used to to initiate ether-sends before the contracts burns them. Buy this the contract will hand over ETH that you shouldn't have control over.
Technically, this attack can be continued until all ETH are drained from "the DAO".
It seems Daniel Larimer was right about Is The Dao going to be DAO https://steemit.com/crypto-news/@dan/is-the-dao-going-to-be-doa"
from https://steemit.com/thedao/@xeroc/ongoing-attack-on-thedao---eth-draining-from-the-pot
Can't roll-back every time someone writes a buggy contract. No matter how much is invested in it..
There are literally 10's of thousands of other contracts running that have no issue at all.
10's of thousands might be an exaggeration; but, similarly there is other poor code being written by other ETH developers out there.
http://www.coindesk.com/leaderless-dao-put-test-following-reported-ethereum-vulnerability/
You are right that you can't roll back every time someone writes a buggy contract. This is just an example of the excitement that will happen when you develop a turing complete system. It will repeat again and again as more poor code is written.
Looks like there is a fix though, seems the stolen eth cant be sold for a while. It may give them time to fix it.
A hardfork would be the worst thing they can do, it would be better to try and salvage what is left after this in some other way.
A hardfork would be the worst thing they can do, it would be better to try and salvage what is left after this in some other way.
That even make it more super creepy. So not only they can "bail-out-too-big-to-fail" hard fork from a top to down centralized fashion, now they can "blacklist" addresses ? Than bye-bye fungibility, and network neutrality as well...
Free market is all about paying the price for your mistakes, no rich uncle/regulator to bail you out.
That is true, since the DAO is the problem and not Eth, they should just let it go and have the DAO deal with its own shit. Getting involved in it might drag both of them down.
Yes, and the mere thought - or message, asking for exchanges halting trade - is a 100% trust killing move. It is already too late for many of us in crypto to ever again take ETH seriously. They should have thought before speaking...
Not to mention that someone wrote here, so now 2 gunmen can go and "ask nicely" for a rollback from a few devs??? Than it is not a trustless network.
That is true, since the DAO is the problem and not Eth, they should just let it go and have the DAO deal with its own shit. Getting involved in it might drag both of them down.
ETH is heavily involved with DAO because all DAO investments made with ETH and they're locked in. Everything about DAO is related to ETH. They had to do something so they did the right thing.
Looks like there is a fix though, seems the stolen eth cant be sold for a while. It may give them time to fix it.
A hardfork would be the worst thing they can do, it would be better to try and salvage what is left after this in some other way.
A hardfork would be the worst thing they can do, it would be better to try and salvage what is left after this in some other way.
That even make it more super creepy. So not only they can "bail-out-too-big-to-fail" hard fork from a top to down centralized fashion, now they can "blacklist" addresses ? Than bye-bye fungibility, and network neutrality as well...
Free market is all about paying the price for your mistakes, no rich uncle/regulator to bail you out.
That is true, since the DAO is the problem and not Eth, they should just let it go and have the DAO deal with its own shit. Getting involved in it might drag both of them down.
Looks like there is a fix though, seems the stolen eth cant be sold for a while. It may give them time to fix it.
A hardfork would be the worst thing they can do, it would be better to try and salvage what is left after this in some other way.
A hardfork would be the worst thing they can do, it would be better to try and salvage what is left after this in some other way.
That even make it more super creepy. So not only they can "bail-out-too-big-to-fail" hard fork from a top to down centralized fashion, now they can "blacklist" addresses ? Than bye-bye fungibility, and network neutrality as well...
Free market is all about paying the price for your mistakes, no rich uncle/regulator to bail you out.
First, the DAO should have capped investment like Digix did. That way it could have been hacked and failed but not threatened the entire Ethereum project.
Second, the hard fork may not be so bad because ethereum hasn't even chosen it's final PoS algorithm. It's not like they are forking a mature coin. To people who argue that this makes it centralized, I would answer yes, but they never pretended that it wasn't going to be until after they took care of the difficulty bomb and forced change from PoW.
Second, the hard fork may not be so bad because ethereum hasn't even chosen it's final PoS algorithm. It's not like they are forking a mature coin. To people who argue that this makes it centralized, I would answer yes, but they never pretended that it wasn't going to be until after they took care of the difficulty bomb and forced change from PoW.
They were always going to have to hardfork anyway to take care of the diff bomb werent they? or am I wrong?
Yes, my understanding is that is why they put it in there in the first place: to give themselves a deadline for changing to PoS. Although I think I read they planned to fork first now to delay the bomb so that they could have more time to work on the algorithm change. So obviously it's not great to hardfork because of the DAO situation but it isn't like Ethereum is just free floating out in the wild like LTC or something. It's still actively being designed.
What a joke. The DAO switching to proof of vitalik where he can make demands to freeze all exchanges so investors cannot flee a burning building and than make arbitrary decisions like freezing peoples funds at whim. Decentralized 
King Vitalik is forking the stolen DAO ETH's out of existence: https://np.reddit.com/r/ethereum/comments/4oiqj7/critical_update_re_dao_vulnerability/
Decentralization. Cool
First, the DAO should have capped investment like Digix did. That way it could have been hacked and failed but not threatened the entire Ethereum project.
Second, the hard fork may not be so bad because ethereum hasn't even chosen it's final PoS algorithm. It's not like they are forking a mature coin. To people who argue that this makes it centralized, I would answer yes, but they never pretended that it wasn't going to be until after they took care of the difficulty bomb and forced change from PoW.
Second, the hard fork may not be so bad because ethereum hasn't even chosen it's final PoS algorithm. It's not like they are forking a mature coin. To people who argue that this makes it centralized, I would answer yes, but they never pretended that it wasn't going to be until after they took care of the difficulty bomb and forced change from PoW.
They were always going to have to hardfork anyway to take care of the diff bomb werent they? or am I wrong?
The whole DAO thing was a risky shit from the start, i would just leave it and let it burn.
What pisses me off is that poloniex wont let me withdraw my Bitcoin for some reason.
thats insane actually, in my opinion bitcoin shouldnt have controlled withdraws and deposits for sure, now it seems that eth has more impact than any other currencies, thats definitely a bad thing for their reputationWhat pisses me off is that poloniex wont let me withdraw my Bitcoin for some reason.
The worst part is I didnt even trade any Eth or DAO today , I sold it all on the 14th when it hit the price i wanted.
First, the DAO should have capped investment like Digix did. That way it could have been hacked and failed but not threatened the entire Ethereum project.
Second, the hard fork may not be so bad because ethereum hasn't even chosen it's final PoS algorithm. It's not like they are forking a mature coin. To people who argue that this makes it centralized, I would answer yes, but they never pretended that it wasn't going to be until after they took care of the difficulty bomb and forced change from PoW.
Second, the hard fork may not be so bad because ethereum hasn't even chosen it's final PoS algorithm. It's not like they are forking a mature coin. To people who argue that this makes it centralized, I would answer yes, but they never pretended that it wasn't going to be until after they took care of the difficulty bomb and forced change from PoW.
The whole DAO thing was a risky shit from the start, i would just leave it and let it burn.
What pisses me off is that poloniex wont let me withdraw my Bitcoin for some reason.
thats insane actually, in my opinion bitcoin shouldnt have controlled withdraws and deposits for sure, now it seems that eth has more impact than any other currencies, thats definitely a bad thing for their reputationWhat pisses me off is that poloniex wont let me withdraw my Bitcoin for some reason.
The worst part is I didnt even trade any Eth or DAO today , I sold it all on the 14th when it hit the price i wanted.
The whole DAO thing was a risky shit from the start, i would just leave it and let it burn.
What pisses me off is that poloniex wont let me withdraw my Bitcoin for some reason.
thats insane actually, in my opinion bitcoin shouldnt have controlled withdraws and deposits for sure, now it seems that eth has more impact than any other currencies, thats definitely a bad thing for their reputation What pisses me off is that poloniex wont let me withdraw my Bitcoin for some reason.
Eh?
They are saying -
1) Blacklist the address with a soft fork - so hacker can't cash out.
2) Then wait and do a hard fork to get the Ether back.
It doesn't seem like DAO can recover the funds in a straight forward way..
..
I don't like.
I feel for those who lost, BUT this could be done to ANYBODY, for any reason, and all it took was Vitalik and Co's say so.. So Ethereum could be coerced with 1, maybe 2, guns to a couple of heads..
That's not cool. (And it's certainly not decentralised)
AGAIN - 'Ethereum' should stay well away. This is none of your business. Your network is doing exactly what it was meant to. And running fine. Let the chips fall.
They are saying -
1) Blacklist the address with a soft fork - so hacker can't cash out.
2) Then wait and do a hard fork to get the Ether back.
It doesn't seem like DAO can recover the funds in a straight forward way..
..
I don't like.
I feel for those who lost, BUT this could be done to ANYBODY, for any reason, and all it took was Vitalik and Co's say so.. So Ethereum could be coerced with 1, maybe 2, guns to a couple of heads..
That's not cool. (And it's certainly not decentralised)
AGAIN - 'Ethereum' should stay well away. This is none of your business. Your network is doing exactly what it was meant to. And running fine. Let the chips fall.
i agree, any rollback sets a precedent, and that kills confidence ... if it can happen once, then what would be other triggers?
DON"T DO IT!!!
The whole DAO thing was a risky shit from the start, i would just leave it and let it burn.
What pisses me off is that poloniex wont let me withdraw my Bitcoin for some reason.
What pisses me off is that poloniex wont let me withdraw my Bitcoin for some reason.
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