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White hat hacker awarded $2M for fixing ETH-creation bug

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Re: White hat hacker awarded $2M for fixing ETH-creation bug

#151

Post by encoderer »

__MatrixMan__ wrote: post #81
skizm wrote: post #71

Earlier quoted context omitted.

Banks or stock exchanges would just revert any bad transactions like they do with most scams, thefts, or accidents. It is built into the current system by design.

They revert the money (if they like you), but usually if money flows one way, something else flows the other way, and they can't revert that half of the fraudulent transactions without great expenditure. Often it's not worth it and they just write it off and the whole economy bears the cost. I'm not saying it's a better or worse plan than whatever might happen under an alternative system, but just that it's not exact…

Just imagine for a second if there was a bug in the US Treasury that let anybody order the treasury to print new money and deliver it to their bank account. That would rightly be seen as total incompetence by the treasury and cast doubts on the soundness of the entire monetary system.

But with ETH we have the community patting themselves on the back for it. It’s madness.

You are making a false equivalency when you compare crypto with usd.

Re: White hat hacker awarded $2M for fixing ETH-creation bug

#152

Post by boeingUH60 »

colinmhayes wrote: post #94
aqme28 wrote: post #30

Earlier quoted context omitted.

How are you going to turn that into actual goods and services though? You'll still need to go through an exchange with KYC and AML and the IRS will still be asking questions.

Swap to monero, buy an NFT from yourself, convert to fiat, pay taxes. Now your money is clean, taxed, and you have an explanation for where it came from.

No, money laundering is never this easy...I see people on internet forums always suggesting stuff like this; Swap to monero >> NFT (or whatever else) >> clean money...Sounds good in theory but in execution, you'll likely make a mistake along the way and get caught

Re: White hat hacker awarded $2M for fixing ETH-creation bug

#153

Post by worldmerge »

jimmaswell wrote: post #77
csdvrx wrote: post #53

Earlier quoted context omitted.

> I can't imagine myself buying a pointlessly extravagant car; and, sadly, now is a bad time to buy a car anyway Get a fun car that can be a hacking project :) I was suggested a police car by a friend. They are cheap at auctions, more or less well maintained (tax payer money) and have interesting internals (check sites like https://www.dippy.org/upgrade/dipcop.html ) especially for electrical circuits where a police-…

I want to convert an 80s-style car to powerful electric someday, cyberpunk style. Z31 300ZX probably. If I had a lot of money like that I'd build a big garage and do things like that.

That sounds like such a fun project!

Re: White hat hacker awarded $2M for fixing ETH-creation bug

#154

Post by sillysaurusx »

snowwrestler wrote: post #128
sillysaurusx wrote: post #40

Earlier quoted context omitted.

If you don’t play ball in certain parts of the world, you end up in a river. The price tag is just different. Yours would likely be family or close relatives. I think you’d take money to do something untoward if that was the alternative. Almost everybody would. And there’s nothing wrong with admitting that.

Positive and negative consequences are not the same thing in ethics. Compare “kill this person to save your son’s life” with “kill this person to earn $1 million.” They’re not equivalent, even if both might be metaphorically referred to as a price.

On the contrary — the decisions you have to make to avoid negative consequences are often the best test of your ethics. Consider how many people would’ve been punished for speaking out against what plantation owners were doing in the 1800’s, for example.

The illusion that they feel different is extremely powerful. It’s worth resisting. It helps uncover all kinds of ways that we contribute to unethical behavior, if only through inaction.

The concept of having a price attached to your ethics is essential. Without it, people fool themselves into believing they’re above temptation. In my experience those same people tend to be the most vulnerable to it.

Re: White hat hacker awarded $2M for fixing ETH-creation bug

#155

Post by kristofferR »

saurik wrote: post #3

Prior discussion of this incident (and the $2M bounty) here on Hacker News: https://news.ycombinator.com/item?id=30289240 My (I'm the hacker) article / post-mortem this blog post is referring to: https://www.saurik.com/optimism.html At the time of this last getting traction a few days ago, some people were sad that the title of my article and the discussion that resulted focused more on the bug instead of the bounty…

You misspelled Immunefi btw, I went looking for it, but googling "Immenufi" only lead back to your comment.

Immunefi turns out to be the correct spelling (weird that Google didn't figure that one out).

Re: White hat hacker awarded $2M for fixing ETH-creation bug

#156

Post by teawrecks »

toolz wrote: post #134
phphphphp wrote: post #116

Earlier quoted context omitted.

For most people, gambling isn't a financial decision, it's an entertainment decision. The value of thinking about winning (regardless of how unlikely it is) is worth the $1 cost of a lottery ticket, so labelling gambling a "stupid financial decision" is like labelling owning a TV while poor a "stupid financial decision"... but poor people deserve entertainment as much as rich people.

Gambling is not a human right, no one deserves to be able to waste resources they have no matter how much they may or may not enjoy it.

What? So startups should not be allowed? 90% of them fail after all. The odds of a startup being successful is literally gambling.

Re: White hat hacker awarded $2M for fixing ETH-creation bug

#157

Post by worldmerge »

saurik wrote: post #3

Prior discussion of this incident (and the $2M bounty) here on Hacker News: https://news.ycombinator.com/item?id=30289240 My (I'm the hacker) article / post-mortem this blog post is referring to: https://www.saurik.com/optimism.html At the time of this last getting traction a few days ago, some people were sad that the title of my article and the discussion that resulted focused more on the bug instead of the bounty…

Congratulations!

Also, thank you for Cydia, I used it in middle school and high school. It definitely made an impression, thank you.

Orchid looks cool too!

Re: White hat hacker awarded $2M for fixing ETH-creation bug

#158

Post by saurik »

kristofferR wrote: post #155
saurik wrote: post #3

Prior discussion of this incident (and the $2M bounty) here on Hacker News: https://news.ycombinator.com/item?id=30289240 My (I'm the hacker) article / post-mortem this blog post is referring to: https://www.saurik.com/optimism.html At the time of this last getting traction a few days ago, some people were sad that the title of my article and the discussion that resulted focused more on the bug instead of the bounty…

You misspelled Immunefi btw, I went looking for it, but googling "Immenufi" only lead back to your comment. Immunefi turns out to be the correct spelling (weird that Google didn't figure that one out).

https://immunefi.com/

Re: White hat hacker awarded $2M for fixing ETH-creation bug

#159

Post by jokethrowaway »

eli wrote: post #93
capableweb wrote: post #84

Earlier quoted context omitted.

Not sure it's actually applicable. That Reddit comment is about poor people winning lots of money by chance, not smart people earning lots of money by working. The risks are very different, not to say that the scale between 2 million and 170 million is way bigger than you seem to think.

Poor people aren’t stupid

That's a generalisation and it's invalid like all generalisations.

That said, it's more likely that someone whose life ended in poverty is not as smart as someone who can live comfortably. IQ generally correlates with income (you can google a few studies).

There are surely tons of reasons that can push smart people into poverty (bad health, poor environment leading to poor choices) but that shouldn't obscure the general trend.

That said, I think over a certain IQ, other traits of your personality or the environment will have the predominant effect in determining whether you'll end up poor or not.

Similarly, over a certain amount of money, I'm sure there will be more variance. Making 5k more than your peers doesn't mean you're smarter than them - and the fact that you're all able to earn a living and save some money means you're all smart.

Re: White hat hacker awarded $2M for fixing ETH-creation bug

#160

Post by kristofferR »

heliodor wrote: post #54
saurik wrote: post #42

Earlier quoted context omitted.

I do not expect to make any major expensive lifestyle changes as a result of having more money (and to the extent to which I have already been being paid better recently due to working on Orchid, I have only barely done so and usually only quite temporarily), which I realize disappoints some people who had wanted me to post a concrete picture of something expensive I purchase to help motivate others to reach for bug…

Please read this thread to see the pitfalls that might potentially lie ahead: https://www.reddit.com/r/AskReddit/comments/24vo34/comment/c... It's about winning the lottery but still applicable to some extent, and shows how people's lives go horribly wrong.

I think this link is way more useful:

https://www.bogleheads.org/wiki/Managing_a_windfall

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