We might never know exactly what did lead to the loss of the coins from CC.
I know fungibility is one of the key facts in Crypto. But what are the actions right now ?
Sure the foundation could just do nothing and let the markets collapse when the hacker is selling, but how would that help anyone involved.
In a true decentralized way, there is no possibilty to just hardfork and move on like ETH did.
How I get it is, that the devs try to flag the accounts and make it at least harder to sell the stolen coins. They can just help sending those mosaics, but anyone could develop such a tool and send mosaics. Whether it helps the exchanges in the longrun is not in the hands of the foundation. But that´s a good thing. They can´t "solve" this issue, but doing their best.
I would love to hear your solution/way to do it better
The best (re)action "right now" is doing nothing.
Don't try to "help." That is counterproductive.
Those who formerly had NEM on a vulnerable exchange deserve to lose their coins. They are by definition weak hands for letting someone take their coins.
Helping them with convoluted, unworkable tainting nonsense only encourages them to make the same mistake again.
They need tough love so they learn a lesson, not indulgence so they learn to depend on bailouts.
The best thing is for the stolen coins to be redistributed into stronger hands. The attacker has already taken the first step by helping himself to the weaklings' coins.
The next step is to sell them off and hope NEM is antifragile enough to survive and emerge stronger from the harsh lessons in security and fungibility.
The hacker or whatever must be rewarded for finding the vulnerability, or it will discourage others from pen-testing. The mechanism for that to happen is for those with empty bags to pay the hacker to refill them. The re-buyers will thus have more skin in the game and not be so greedy and careless in the future. That goes for the exchange as well as its customers.
NEM devs and community must also work on making their coin fungible and their network permissionless and decentralized.
But they don't want to do that. Every architectural and organizational governance design decision shows NEM is fully intended to be the vanity project of one Satoshi-wannabe guy.
If Bitcoin can recover from dozens of MtGoxes and be stronger than ever WTF is NEM's excuse for treating its users like little babies who must be mollycoddled and protected from the consequences of their poor decisions?
Look to Bitcoin's history for an example of leaderless governance and antifragility to emulate. Look to Monero for an example of 100% fungible (IE cannot be tainted) coins moving through a permissionless (IE can't be evil) network.
A little harsh, no? But your logic is damned sound. Harsh truths for a HODLer of my scale.
I’d like to see gentlemand’s response to this.
I do agree that the NEM team congratulating themselves on this is a bit ridiculous. But equally it isn’t their fault and they’re just trying to help. Remember that NEM is far more commercial a project than BTC and accordingly will have more sympathy and centralized governance you rail against.
What do others here think?
I just don't like the idea of not having compassion for those who lost their Nems. People will make human mistakes, especially when everything seems to be going good. It's not easy to lose money. But forget about crypto, the tone was like saying, "He was walking, got distracted because he noticed a full moon, a criminal saw his distraction, tripped him, landed face first and broke his face and got his wallet stolen. That's good for him for not paying attention, let the stronger one, the criminal that noticed his distraction have the money. He deserves it more."
What ideas you like or don't like have zero bearing on the facts of the matter.
Nobody denied that "people will make human mistakes." The debate is about the best way to go forward given that completely obvious and undisputed fact.
Your cherry-picked analogy is idiotic. Buying NEM because you are a greedy moonchild and choosing to keep it on an exchange is nothing like walking and being distracted.
Please try to stick to the actual highly technical subject matter instead of retreating into lazy, derpy generalizations and obviously misleading, self-pitying, irrelevant nonsense about victimology.
The topic of this thread is NEM and the reported hack of an exchange. If you cannot participate in that discussion in a meaningful way, shut the hell up and listen to the adults talk.
Better yet, go read some Nassim Taleb and come back when you are ready to accept responsibility for your regrettable decisions instead of demanding bailouts and sympathy.
Your fragile little emotions are not important. Nobody cares how you feel, especially when you mewl for "compassion" like a goddamn infant. This is crypto, not day care. Grow up and learn to function in the harsh realities of the real world. Or perish. Bitcoin doesn't care one way or the other, and neither do I.
Boy, you were triggered, I guess there must have been some truth to what I said. Fragile emotions you said? In my post I was strictly talking about having some compassion for people who lost their money, whether they had it on the exchange because they were trading, or because they used the exchange as a wallet. You're bringing up other stuff, when I'm simply talking about character and not having the attitude of "those who lost it are weaklings, and the hacker is the stronger one." I'm responding specifically to that, I can do that.
Especially a coin like Nem, which was originally created with the little guy in mind, and then evolved into what we see today.
