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

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41–50 of 354 posts

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

#41

In other words: ETH was an insecure blockchain and once compromised, there is no legal or operational recourse, with the implication that issues could indeed exist today. House of Cards.

No. This was neither ETH, nor the Ethereum blockchain. Nor does this imply more issues indeed exist today.

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

#42
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…

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 bounties ;P.

(FWIW, I maybe should at some point buy a car--as I currently waste money on renting one; pre-pandemic I was using a combination of ZipCar and Lyft, but both services suck now--but I can't imagine myself buying a pointlessly extravagant car; and, sadly, now is a bad time to buy a car anyway... which I think is related to the ZipCar issue: I imagine they might have sold their fleet? Maybe ZipCar will return in force when prices rebalance.)

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

#43

Earlier quoted context omitted.

I strongly disagree with that. You really can't claim to speak for everybody.

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.

My 'goalposts moved' detector just twitched.

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

#44
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…

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?

5% yoy risk-free is optimistic, realistically he can count on 50-60k. Close to fuck-you money but, for a lot of people, not there yet.

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

#45
post #44

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?

5% yoy risk-free is optimistic, realistically he can count on 50-60k. Close to fuck-you money but, for a lot of people, not there yet.

Rich people of HN, is this true? I’d always heard each million is worth about $50k a year. Was that just during boom times, or simply mistaken?

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

#46
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…

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?

Hopefully, he will just keep creating interesting things, or even maybe use that as a seed to make his next idea come true, so we can all benefit from his cool hacks!

Yesterday I was reading "how to drop out", to me it seemed like a bad plan overall: https://news.ycombinator.com/item?id=30318285

Some people want to learn to live on the cheap to drop out, or to fatFIRE (which is another way to do the same). Personally, I love working and doing interesting things, and being with other people and society itself!

So my personal plan is the opposite of fatFIRE: work until I die regardless of what happens on the side, because I enjoy what I do, so stopping what I do just because something happened on the side would be like punishing myself, then waiting to die out of boredom?

Doesn't seem like such a bright idea to me. Maybe it's different (if you don't like modern society, or maybe other people, or the idea of work itself?

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

#47
post #44

Earlier quoted context omitted.

5% yoy risk-free is optimistic, realistically he can count on 50-60k. Close to fuck-you money but, for a lot of people, not there yet.

Rich people of HN, is this true? I’d always heard each million is worth about $50k a year. Was that just during boom times, or simply mistaken?

I'm not rich but I talk to a lot of finance people for work. It all depends on the degree of risk you're willing to accept, and it has less to do with booming than with central bank rates.

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

#48

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.

My 'goalposts moved' detector just twitched.

If you say so. It’s the same thing, even if it’s more comfortable to believe it’s not.

It helps to frame it this way, because once you accept that you’d do that, you’re more likely to accept you would do something unethical for a billion dollars if it had no consequences to you. And from there, it’s a binary search to determine exactly what your price is.

Would you be able to say you wouldn’t lie to your wife if it meant you’d walk away with a billion dollars? Certainly this is contrived, but all examples in this territory are contrived.

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

#49
This just proves how insecure the blockchain / web3 / cryptocurrency space is.

It's good to see white hat hackers in this space trying to fix what is already broken.

But sorry to be that person, just a timely reminder of the truth: All cryptocurrencies and 'DeFi projects' are ponzi scams including Orchid.

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

#50
post #44

Earlier quoted context omitted.

5% yoy risk-free is optimistic, realistically he can count on 50-60k. Close to fuck-you money but, for a lot of people, not there yet.

Rich people of HN, is this true? I’d always heard each million is worth about $50k a year. Was that just during boom times, or simply mistaken?

It sounds about right to me. The person replying to you is assuming you don't want to spend any of the $2 mil and only live on interest and being very conservative. 5% a year historically makes sense. Years where you don't get that return, you can spend some of the bank to make up the difference. Other years you should get a little extra to add to the bank. During a drought maybe you reduce expenses. But you should still be able to target 100k most years, unless you get really unlucky. (We currently happen to be living in a time where I think you could get really unlucky, 7.5% inflation and all that.)
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