[POLL] Should NXT Rollback the Blockchain after the BTER Hack ? - page 2.

Lauda

legendary

Activity: 2674

Merit: 2965

Terminated.

Quote from: Bitcoins101 on August 15, 2014, 10:42:09 AM

Having 5% of the entire coin controlled by a single, unknown hacker is a problem. A much larger problem than erasing a few hours of transactions when that's what the community wants.

What if i don't want it? What if other 5 people that I'm connected don't want it?
The hacker is also part of the community. Wink

Quote from: Vega on August 15, 2014, 10:49:30 AM

Even more, not all transactions would be erased just the once releated to the theft.

Also NXT not simply a coin that can be dumped or exchanges, something that can be blocked to an extent, but an ecosystem. NXT Asset Exchange is great and have more volume then most coins, the thief could destroy it with that much coin, and could also find a way to get profit out that way.

Well obviously he will profit, the value of so many coins is very high indeed.

Vega

hero member

Activity: 739

Merit: 500

Quote from: Bitcoins101 on August 15, 2014, 10:42:09 AM

Having 5% of the entire coin controlled by a single, unknown hacker is a problem. A much larger problem than erasing a few hours of transactions when that's what the community wants.

Even more, not all transactions would be erased just the once releated to the theft.

Also NXT not simply a coin that can be dumped or exchanges, something that can be blocked to an extent, but an ecosystem. NXT Asset Exchange is great and have more volume then most coins, the thief could destroy it with that much coin, and could also find a way to get profit out that way.

Spoetnik

legendary

Activity: 1540

Merit: 1011

FUD Philanthropist™

Quote from: Nautica on August 15, 2014, 10:45:29 AM

This is the dividing line between people who believe in democracy, and people who believe in anarchy. I suggest the latters to go develop a coin where blockchain malleability is inherently impossible and to use that coin. Meanwhile, realise that this is a brilliant feature of PoS block chains: the capacity for people to vote on what they believe in.

anarchy ? Look where you are LOL

Nautica

jr. member

Activity: 59

Merit: 10

This is the dividing line between people who believe in democracy, and people who believe in anarchy. I suggest the latters to go develop a coin where blockchain malleability is inherently impossible and to use that coin. Meanwhile, realise that this is a brilliant feature of PoS block chains: the capacity for people to vote on what they believe in.

Bitcoins101

hero member

Activity: 910

Merit: 509

Having 5% of the entire coin controlled by a single, unknown hacker is a problem. A much larger problem than erasing a few hours of transactions when that's what the community wants.

Spoetnik

legendary

Activity: 1540

Merit: 1011

FUD Philanthropist™

i just seen a guy say this on the JPC ANN topic link in my SIG..

Quote from: Litoshi on August 15, 2014, 10:08:03 AM

Off topic a little.

Bter exchange was hacked for 45million NXT and 112BTC. All hell has broken loose in the past few hours there as the herd mentality took over and a massive SELL ALL COINS AT ANY COST attitude took over the account holders.

Bter even paid the hacker 100BTC more to return the NXT. He failed to return the NXT. More panic selling........

Then cooler heads prevailed with the NXT devs, who agreed to erase the transaction from the blockchain. This was not a rollback, but an erasure of one transaction, requiring a download of the new editted blockchain by all NXT wallets.

made me think hmm i wonder if this could be an advantage ?
like what if they paid the guy and then had the coin team remove the 100BTC anyway even if they got the coins back ?
See how this deleting a transaction or rolling back behavior could be exploited in the future ?
we're treading on thin ice with this mentality i think !

In the future all you would need is a coin team + roll back and a corrupt exchange
and we could see all kinds of worse and worse problems with this new bad precedent we're setting.
a whole new angle of attack and exploitation could be born out of this !

Spoetnik

legendary

Activity: 1540

Merit: 1011

FUD Philanthropist™

poll Question = Should NXT Rollback the Blockchain after the BTER Hack ?

i vote no.
and i suggest NXT guys think carefully !

i think they could undermine their coin by rolling back making NXT making it seem far less attractive to users in the future and give the coin a bad reputation.
the bad reputation belongs to BTER right ? ..one or the other is going to get it !

so far i have not heard any details on HOW this happened and THAT should affect what is done i think too !
If it's some kind of an error in the coin then MAYBE a roll back is appropriate but i have not heard that so for now i vote no until i get more info.

A smart guy just said unless it affects ALL users then NO on the roll back.. a very smart point (sorry i forgot the guys name) lol

So please vote and you can change it if you want too !

I think this poll would be a good idea to voice your opinion towards the NXT team Wink

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