It seems bad that when a problem is found it is immediately disclosed and fixed.
BUT history is rife with examples of ass covering that only kicked the can further down the road until disaster - like the economy of Japan for example.
This was a win for Bitcoin, though it may not have appeared so last night.
what's bad? What trust has been lost?
Umm... guys...
15:23
bitmarco: the news is wrong.
15:23 but it is the news
15:23 Why is it wrong?
15:23 jouke: it is a bug in an older version
15:23 0.7 rejects blocks we didn't know it would reject
15:24 gmaxwell: yes, the current network behaviour is too buggy (=unpredictable)
15:24 -!- BTC_Bear|hbrntng is now known as BTC_Bear
15:24 Yesterdag night the community decided that that bug defines the validness of the blocks.
15:24 We definitely need a hardfork. Version 0.3 and version 0.7 are incompatible, we just didn't know it
15:24 but the definition of a valid block is "what past versions accept"
15:24 gavinandresen: i don't think they are
15:24 gavinandresen: only 0.8 is incompatible right now..
15:24 so what is the maximum blocksize?
15:24 Making .8 invalid to that definition
15:24 so 0.8 is the broken one
15:24 gavinandresen: do not agree w/ that assessment...
15:24 jgarzik: Please don't just repeat that. We _never_ would have release 0.8 with this behavior if we knew about it. In bitcoin correctness means compatiblity with the network, not your platonic ideal of the rules.
15:24 sipa: with a big enough re-org, I bet 0.3 nodes get stuck
15:24 safe maximum blocksize
15:24 gmaxwell: first, even if we have a strict upper limit that can be enforced in a soft fork, a large reorg will kick out old nodes
15:25 … again, because "we" changed re-orged transactions to be per-block instead of per-re-org
15:25 gmaxwell: up to certain limits.
15:25 sipa: Okay, point. To the extent that <0.8 is not even self-consistent with time-shiftied copies of itself, that must be fixed.
15:25 Still, announcing that 0.8 is "bad" or "broken" was a terrible idea.
15:25 gmaxwell: obviously when the missing MoneyRange() check was discovered, the majority consensus was just wrong
legendary
Activity: 3066
Merit: 1147
The revolution will be monetized!
what's bad? What trust has been lost?
If YOU have lost your trust, can I buy your bitcoins cheap?
full member
Activity: 235
Merit: 100
If anything too this does increase the value of the units, watch 
legendary
Activity: 1106
Merit: 1001
hero member
Activity: 910
Merit: 1000
Items flashing here available at btctrinkets.com
Most people dont realize this yet. You lose trust, its gone you cant get it back...
Trust was gained, not lost.
full member
Activity: 235
Merit: 100
hero member
Activity: 607
Merit: 500
Bitcoin is like women, not perfect but you can't stop loving them anyway.
the best motto i have read 
full member
Activity: 128
Merit: 100
It seems bad that when a problem is found it is immediately disclosed and fixed.
BUT history is rife with examples of ass covering that only kicked the can further down the road until disaster - like the economy of Japan for example.
The Bitcoin community did the right thing.
legendary
Activity: 1386
Merit: 1004
Most people dont realize this yet. You lose trust, its gone you cant get it back...
True. But this event INCREASED my trust.
legendary
Activity: 2184
Merit: 1056
Affordable Physical Bitcoins - Denarium.com
For me, the trust was _gained_. I've never seen a situation like this before. I watched everything in IRC, and what I saw was professional people doing their utmost best to fix Bitcoin. And they did fix it, pretty much as efficiently as it could be done under the circumstances.
Bitcoin is a software project, bugs are possible. Even NASA and other very serious projects have had bugs, it's always a possibility. We just need to deal with it and Bitcoin now proved that it can deal with it.
sr. member
Activity: 504
Merit: 250
Bitcoin is like women, not perfect but you can't stop loving them anyway.
newbie
Activity: 49
Merit: 0
OK. Please make the price go down to 50 cents again, then. I will happily buy all I can possibly buy.
oh god id love another chance to buy huge amounts for next to nothing but knowing my luck the price would fall and never come back up lol
legendary
Activity: 1148
Merit: 1008
If you want to walk on water, get out of the boat
Most people dont realize this yet. You lose trust, its gone you cant get it back...
Yeah i understand you, you no more trust bitcoin. But you are lucky, i can buy all your bitcoins for 1$ each!!!!!!! Since you no more trust it...
donator
Activity: 1218
Merit: 1079
Gerald Davis
Most people dont realize this yet. You lose trust, its gone you cant get it back...
What trust was lost? The network proved its resilience. A downgrade wasn't even necessary. The majority could have stayed on v0.8 and it would have forced all v0.7 users to upgrade. Of course that would have left them vulnerable until they did. Even if no downgrade was possible the network would have survived just fine.
sr. member
Activity: 434
Merit: 250
OK. Please make the price go down to 50 cents again, then. I will happily buy all I can possibly buy.
full member
Activity: 161
Merit: 100
Most people dont realize this yet. You lose trust, its gone you cant get it back...
| | | 
