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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

#201

Post by rdiddly »

saurik wrote: post #42
sillysaurusx wrote: post #31

Earlier quoted context omitted.

So how many lambos are you buying? More seriously, will you keep it in the bank and extract $100k a year the rest of your life? What are you going to do?

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…

I would tend to look at your use of car services more like spending money you can now afford, to deal with cars only temporarily and reap only the benefits, rather than being stricken with the albatross of ownership.

That said, I do concur that Zipcar sucks now, compared to what it was. I've still never used Lyft or Uber, so can't comment on those. Oh wait hold on, I did try once to gift some Lyft rides to someone via the website and was literally unable to successfully give Lyft money. Still, I would say it makes less sense now to buy a car (even electric) than at any other point in history.

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

#203

Post by pshc »

SilasX wrote: post #100
saurik wrote: post #16

Earlier quoted context omitted.

Optimism is a blockchain quite a bit like Ethereum, so the "database" mental model might be a bit confusing for a frame here (as it isn't like they are some centralized service), but no: this doesn't let you directly create ETH (which would be much much more devastating); it only lets you create something we might call "OETH", which is Optimism-specific. The native currency on Optimism (used to pay gas, like ETH is u…

But you could drain out all the ETH in the Optimism reserve by asking to withdraw, since you've fooled the network into thinking you own an arbitrary amount of OETH? Which would keep working until the main L1 Eth network rejects transactions for transferring ETH it doesn't have?

The folks at Optimism would certainly hit the pause button on that withdrawal before it escaped, if there aren't already limits and automatic controls in place. It takes 7 days to withdraw L2->L1 via the standard bridge.

(They have administrative controls for now during development, at some point they're supposed to turn it completely permissionless...)

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

#204

Post by capableweb »

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 not what I said either. Again, the Reddit thread is about people with a small amount of money winning a large amount of money. A person like Saurik working for a bug bounty and getting paid for it is not nearly the same scenario.

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

#205

Post by colesantiago »

kristofferR wrote: post #181
colesantiago wrote: post #130

Earlier quoted context omitted.

This can be done without the need for a blockchain. Adding a new technology + blockchain + a coin still makes it ponzi scheme scam, even worse when the price of this coin comes crashing down.

Why would individuals buy relatively expensive equipment, set it up and manage it, without the potential for return on their investments? The only reason Helium's LoRaWAN coverage is expanding rapidly is due to the crypto aspects of it.

So basically a ponzi scheme that is expensive to join with guaranteed diminishing returns in mining.

If I would like to lose my money in style this would be it.

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

#206

Post by sammyq »

devoutsalsa wrote: post #178
saurik wrote: post #164

Earlier quoted context omitted.

The bounty amount was denominated in USD and is being paid in USDC (a stable coin, which is means it is intended to map effectively 1:1 with--in this case--USD).

At the moment, USDC is the only stable coin I’m comfortable holding. Are there are any other stable coins that are like backed by hard assets?

What’s the reason of holding USDC, isn’t that same as holding cash in bank?

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

#207

Post by samatman »

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.

Time to trot out my favourite paraphrase of Babbbage: I am not able rightly to apprehend the kind of confusion of ideas that could provoke such a statement.

Suppose another ape and I are out enjoying the State of Nature, and we both should have a round troy ounce of silver in our pockets, with heads and tails as an agreed convention. Suppose I were to say to the other ape, "on whose face does Fortune shine her rays?" and we were to flip both rounds, such that whomever showed heads had the better of it: were it both of us, we would exchange, but one head and one tails, well, one ape will leave the gamble richer and the other skint.

Tell me toolz, how should you prevent this encounter without committing a human rights violation? Show your work, please.

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

#208

Post by sfe22 »

sammyq wrote: post #206
devoutsalsa wrote: post #178

Earlier quoted context omitted.

At the moment, USDC is the only stable coin I’m comfortable holding. Are there are any other stable coins that are like backed by hard assets?

What’s the reason of holding USDC, isn’t that same as holding cash in bank?

The problem is other stable coins are not transparent, and are very likely not fully funded so they can collapse any time. USDC is by coinbase and a little more transparent, thus less likely to collapse in case of mass withdrawal.

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

#209

Post by csdvrx »

dralley wrote: post #194
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 was suggested a police car by a friend. They are cheap at auctions, more or less well maintained (tax payer money) Except that 1) a lot of them are Dodge Chargers which are terribly unreliable 2) they spend incredible amounts of time idling, which isn't good for the engine of a sports car

So what? If it's to have fun and hack, does it matter?

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

#210

Post by jacquesm »

sillysaurusx wrote: post #191
jacquesm wrote: post #172

Earlier quoted context omitted.

The distinction is pedantic because you are making it so. Whereas in fact it is anything but pedantic. "The whole assumption that ethics have a price tag attached is faulty" For everyone. > But we’re past the point that readers are having a nice time reading this. You seem to be in a habit of projecting your own feelings onto everybody else. > If you’d like to continue, I’m happy to do so, but we need to restrict our…

I'm saddened that a repeat of our debate from seven years ago won't be forthcoming today. https://news.ycombinator.com/item?id=8901682 I was looking forward to it. If you ever do want to probe deeper into the question of ethics vs cost, I think it would be interesting. But since you keep talking about me rather than the idea, the interest feels one-sided.

Three different people have now made the same point in three different ways and you simply ignore it, consider the possibility that you are simply wrong about something.

Ethics problems typically do not lend themselves to be translated into a caricature of the market economy. The habit of assigning price tags to stuff can help if the original problem is cost related, but it tends to be a crutch when things of a more principal nature are discussed, which would have a valid meaning absent such things as money or physical rewards. As long as you keep framing it like that you won't get further.

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