Ethereum Wallet and Mist Beta with Hard Fork choice

Post by Zagitta » Sun, Jul 17, 2016, 6:06 PM UTC

ikeboy wrote: post #26

CydeWeys wrote: post #7

This looks really bad from the perspective of trusting the currency to actually retain its value. What if you end up on the wrong fork, and that thousands of dollars in Ethereum you accepted to send out physical goods ends up being worthless? What's the point in saving the DAO if it kills the whole purpose behind the currency?

As I understand it they only activate the fork if enough miners vote for it. If >50% of hashpower doesn't fork, then nobody forks. If >50% of hashpower forks, then that's known ahead of time since the vote was carried out in public by that same hashpower.

Post by mst » Sun, Jul 17, 2016, 6:31 PM UTC

aakilfernandes wrote: post #5

HappyFunGuy wrote: post #3

It's a good thing that smart contracts have allowed us freedom from human error and bias.... I guess we can just call them "contracts." now.

Intersting idea. Perhaps we should have a system of governance of the "contracts" whereby we elect "representatives" who appoint "judges".

Post by [deleted] » Sun, Jul 17, 2016, 7:09 PM UTC

ikeboy wrote: post #32

Zagitta wrote: post #31

Earlier quoted context omitted.

That's how the softfork worked before it got scrapped. A hardfork literally splits the network in in two, it's basically like creating a new coin shares the previous history.

How does the fact that it was a hardfork invalidate either of the statements above? It's known ahead of time, and if not enough people adopt it then it doesn't get activated at all.

Post by LoSboccacc » Sun, Jul 17, 2016, 7:43 PM UTC

fragsworth wrote: post #34

ikeboy wrote: post #32

Earlier quoted context omitted.

How does the fact that it was a hardfork invalidate either of the statements above? It's known ahead of time, and if not enough people adopt it then it doesn't get activated at all.

This is also an existing problem in every cryptocurrency. Just because bitcoin hasn't done any controversial forks yet doesn't mean it will never happen.

Post by eco » Sun, Jul 17, 2016, 8:11 PM UTC

CydeWeys wrote: post #16

Gargoyle wrote: post #14

I was a hardcore Ethereum fanboy, but this fork completely turned me off.

Too many of the Ethereum devs had way too much of their currency tied up in the DAO. It's a classic conflict of interest. Don't forget that Ethereum had a significant premine as well (which is very shady in its own right), so the early devs and adopters have a lot of ETH to throw around.