351–360 of 761 posts
Working as intended! God I love crypto, it's the fuckin wild west out there If you don't want the government in your business, you're going to have to dispense with all the advantages that big daddy affords you
Including actually having the money in your wallet!
Earlier quoted context omitted.
Someone actually made a gif of that scene with those words at that point, during the bitcoin scaling debate (where some wanted the block size to increase and decentralization was being ridiculed as a spurious defense of the small size). I’ll see if I can find it.
Made one myself, because I think it'll be handy in the future: https://imgur.com/gallery/32t4yRc
Earlier quoted context omitted.
They think that government is tyranny, therefore lack of government is freedom. Yes, they are dumb as hell.
More likely they think government monopoly over money is a form of tyranny, or that unchecked government power is tyranny. See: Civil forfeiture: https://en.wikipedia.org/wiki/Civil_forfeiture_in_the_United... Executive order 6102: https://en.wikipedia.org/wiki/Executive_Order_6102 Greek austerity measures (which include the reduction of social welfare and benefits due to incompetence of government spending): https:/…
"We are working with law enforcement officials..." If the promise of ETH contracts is that code is law and to eliminate needing trust, then how and why would law enforcement get involved? Did the attackers break down the door and steal the money? Or did the provide a widget that met the contract and which just happened to have the unfortunate side-effect of siphoning off tokens, a bug which will be fixed in the next…
,, Originally, Sky Mavis chose the five out of nine threshold as some nodes didn’t catch up with the chain, or were stuck in syncing state’’ Sounds like a great plan for storing half billion dollars. I’m not blaming the developers, as they are incentivized to move fast and break things, I’m just sorry for all the people who trust new protocols so easily without any knowledge in safe software security practices. Perso…
I am blaming the developers. Perhaps this is not a popular view, but this "blameless" culture is fine and good when it's a random service going down for 15 minutes and you're trying to collaborate and prevent it from happening again. There must be limits though. If you're handling that amount of money in a bank and you fuck it up like this, your ass is on the line, together with the ones who incentivized you to move…
They are betting on software in alpha phase without knowing anything about it, or any detail about the cryptography, concensus mechanism or coding practices they use.
There are valid concerns with any asset where people want to store their wealth (which is at the same time a basic human need), but it's hard to reason with peope who are not interested in discussing those concerns.
Earlier quoted context omitted.
> The attacker used hacked private keys in order to forge fake withdrawals. > The attacker managed to get control over Sky Mavis’s four Ronin Validators and a third-party validator run by Axie DAO. Easiest explanation: at least one Sky Mavis employee and one Axie Infinity employee who have access to those private keys got together and took all the funds. Perhaps it was only one employee; it's not clear to me what the…
> Easiest explanation: at least one Sky Mavis employee and one Axie Infinity employee who have access to those private keys got together and took all the funds Easier explanation: they were all in a Dropbox or something stupid like that.
Question for the legal-minded folk here. Is this "theft" illegal in the criminal sense? It's exploiting an unintended hole in software, but it's technically following the smart contract faithfully, albeit against the better intentions of its author(s). Has a smart contract case like this been litigated before? It brings to mind comparable things that have happened in the financial services world, where one party insi…
Earlier quoted context omitted.
The chance of $650 million being drained from a game studio’s bank account is significantly less than it being drained from their ETH wallets, at least as of now.
Depends on if the studio's bank account has security questions like "mother's maiden name", "first concert", etc type stuff and an employee with those answers that like to take quizzes on facebook. Otherwise, it could be quite simple to drain the account
For one thing, most business accounts do not hold 9 figures in cash.
Inflows and outflows are likely to be predictable, so you can set flags for certain thresholds.
A 9 figure transaction would absolutely be noticed, and possibly flagged before it was permitted to continue.
Earlier quoted context omitted.
Yes? That's the point of my comment? I'm confused about what you're saying. I'm trying to answer your question "And do that every time a hack occurs?". The answer is yes, it's completely feasible and within the powers of a government or inter-government treaty organization to do this every time a hack occurs, because they already do . I'm not trying to say that such a system is good , just that it's possible . There…
Ah, I misunderstood what you were saying. I thought you were advocating that we should do that, and I was wondering why that would be better than the status quo.
This probably sounds like an insanely dumb idea to crypto people, but is it absolutely infeasible to reverse transactions when there's consensus that it's a hack? The TX fees need not be reversed (consider it to be a small price to pay for being hacked). A little bit of centralisation could make the whole network safer. Who is that centralised authority to decide what's a hack, I hear you ask. I don't know, but the a…
You’re describing a hard fork - exactly what created Ethereum and Ethereum Classic after the DAO hack. Even now it’s still considered a controversial move.