Is it possible to fix thefts by altering the block chain or some other way

NorrisK

legendary

Activity: 1946

Merit: 1007

Quote from: Fontas Returns on January 15, 2016, 04:23:50 AM

Such as the cryptsy theft? Would there be a way to roll back the block chain to undo the theft?

Very nice idea. Let's roll back the block chain 18 months.

Every transaction that happened after that is suddenly gone. Everybody who traded something for bitcoin can say good bye to their coins. They are also gone.

With the current usage of bitcoin, you cannot even roll back the blockchain 5 minutes without causing major problems.

erre

legendary

Activity: 1666

Merit: 1205

Bitcoin is fungible Grin

gkv9

legendary

Activity: 1246

Merit: 1000

!!! RiSe aBovE ThE StoRm !!!

Rolling back blockchain doesn't guarantee any sort of thefts to be fixed as everything will get messed up due to all the transactions being invalid ahead of that theft transaction...

DannyHamilton

legendary

Activity: 3416

Merit: 4658

Quote from: Fontas Returns on January 15, 2016, 04:23:50 AM

Such as the cryptsy theft? Would there be a way to roll back the block chain to undo the theft?

If you "roll back the blockchain" then you are stealing from all the people that were smart enough not to send bitcoins to Cryptsy, since all of their transactions would become unconfirmed and all the rewards that miners received (as well as all the transactions that were based on those rewards) would vanish.

So, you are suggesting fixing a loss of bitcoins by those that trusted Cryptsy by stealing from everyone that trusted the blockchain? And this would somehow restore faith in the blockchain?

No thanks. I feel bad for those that lost funds at Cryptsy. I know several people personally that lost funds at MtGox. Eventually people will need to learn not to trust uninsured, unregulated, un-audited, incompetent businesses with their bitcoins. If you lost bitcoins at Cryptsy, consider it tuition for an important lesson in life.

franky1

legendary

Activity: 4270

Merit: 4534

Quote from: Fontas Returns on January 15, 2016, 04:23:50 AM

Such as the cryptsy theft? Would there be a way to roll back the block chain to undo the theft?

cryptsy "dun goxed" and blamed hackers from 18 months ago.. (we know vern ran with the money, hense why he closed the office to not be traced or slapped with a wet fish)
and strangely is now running a new exchange in china.

but lets play along with verns excuse of hacking
the only way to prevent hacking is not to have wallets on the same IP/server as the front-end (website).
this can be done so easily using databases to store requests and a separate server/system reads those requests and processes them OFFSITE.

that way the main server does not reveal the location of the offsite system because its not pushing data out. its just storing data locally and the offsite system looks in..

there should be no reason ever to have hotwallets on the server that the website front end is also on

Fontas Returns

full member

Activity: 188

Merit: 100

assuming a forensic audit makes it certain they are the cryptsy coins

rebuilder

legendary

Activity: 1615

Merit: 1000

They've already been taken. According to Cryptsy anyway, all you have is their word that those coins came from them.

Fontas Returns

full member

Activity: 188

Merit: 100

Ok so maybe its generally bad but all these coins are still in the same wallets since they were stolen so they know exactly which ones have been stolen so no one really has to get their coins taken

rebuilder

legendary

Activity: 1615

Merit: 1000

Like Amph said, if you can get sufficient consensus for a viable hard fork, you can do this. It's not likely, though, since setting a precedent that BTC can be taken from you by community decision is much worse than the fact that sometimes people steal BTC.

Amph

legendary

Activity: 3206

Merit: 1069

Quote from: Fontas Returns on January 15, 2016, 04:40:46 AM

why couldnt it get consensus this is going to crash btc

it will not, it will only make the range 300-400 more solid, since more buyers will be tempted to buy cheaper coins thx to the hacker that is know dumping 13k coins form cryptsy

the same happened with bitstamp, does bitcoin died because the hacker dumped 19k coins? no, we reached 480 as a peak after that incident

mexxer-2

hero member

Activity: 924

Merit: 1005

4 Mana 7/7

Quote from: Fontas Returns on January 15, 2016, 04:40:46 AM

why couldnt it get consensus this is going to crash btc

Lol sure, we had it coming for months. I don't want BTC to turn into useless PP crap, neither does over 80% of the community.

Fontas Returns

full member

Activity: 188

Merit: 100

why couldnt it get consensus this is going to crash btc

Amph

legendary

Activity: 3206

Merit: 1069

are you asking for chargeback solution with bitcoin? no way, and in any case it need to be done with an hard fork, which will never get any real consensus pretty much like XT

Fontas Returns

full member

Activity: 188

Merit: 100

Such as the cryptsy theft? Would there be a way to roll back the block chain to undo the theft?

Topic: Is it possible to fix thefts by altering the block chain or some other way (Read 584 times)