71–80 of 194 posts
Earlier quoted context omitted.
Whether something is "illegal" is a function of the court system. So the question is, could you convince a jury that it is illegal?
That's an easy "yes".
Earlier quoted context omitted.
That's primarily because Ethereum is pure amateur hour. When Bitcoin had built in checksums on addresses, Eth Dev's just said "watch where you send money". They ended up having to later add in a capitalization scheme to serve as a hash. I have no clue how they managed to fool so many people with poor and shoddy work. But they have so far. And they've fooled everyone that this is a 'hack' even after saying time and ag…
The 't' vs 'T' has _nothing_ to do with checksums. `Transfer` and `transfer` are two different functions, one creating an "event" (think a signal on the blockchain) and the other actually transfering tokens. The true flaw lies in the reentrant attack on `.send()`
They claimed again and again that the code is the contract and vice versa. That was proven not true by the VIP() function.
And seriously, if this protocol was given proper due diligence, there would be no reentrant attack on this. But that points back to amateur hour. And a lot of people here have money in ETH and can't come to understand this due to the extreme cognitive dissonance.
(The premise of Ethereum really is amazing. Too bad it wasn't given the same diligence as Satoshi gave it.)
Unfortunately for Aviva, their contracts are actually law in contrast to Ethereum where if the devs feel like it, they can do/revert anything.
[1]: https://ftalphaville.ft.com/2015/02/27/2120422/meet-the-man-...
This story really needs an ELI5
The guy went to a bunch of people with the idea and they liked it.
The people talked about it a lot and many more people joined in.
They all pooled their money together to launch this cool money.
Some other guy came over, saw all of this, looked at the code, and used the code to transfer $55M to his wallet.
Arguments about law and contracts ensued.
Earlier quoted context omitted.
Many ICOs out there are effectively Ponzi schemes, which are near-universally illegal.
I don't think any of them are ponzi schemes. Shitty investment based on speculation and hype != illegal or ponzi scheme Bubbly sectors see irrational amounts of money thrown at things that have little underlying value, like Beanie Babies, or a token for a proposed protocol described by a two page whitepaper.
Thief? He strictly followed the terms of a contract by people who were very clear that "code is law" and who did not want institutions were the result is decided by human judgement.
It's always been like this. Be smug and aggressive when it goes right and cry for help when something goes wrong. The housing crisis was the same. Claim you got the thing that makes everybody rich and when everything went inevitably downhill, ask the "enemy" aka the regulator/government/police to bail you out.
Earlier quoted context omitted.
The "Computer Fraud and Abuse Act" applies to the US. What if the hacker lives somewhere else? Then that law does not apply to him, and the action was not illegal.
Are you familiar with the individual known as Kim Dotcom?
Earlier quoted context omitted.
jesus christ, who the fuck would make two identical symbols differentiated by only capitalisation? (Other than these guys obviously)
What, you mean apart from every Unix ever? (All right, all right, excluding Mac OS X. But it's weird.)
(And before someone says it, yes, of course performance matters for filenames. Every single stat shouldn't need to worry about case folding.)
Earlier quoted context omitted.
So tell me, what is the goal of an ICO? And by extension, how do you ensure an ICO is successful?
Whatever the goal, unless they guarantee you a payment and fund that payment with membership fees paid by later entrants, it's not a ponzi scheme.
Earlier quoted context omitted.
Are you familiar with the individual known as Kim Dotcom?
The guy that the US has been unable to get to for years and who could flee NZ at any time to a friendlier jurisdiction if he so wished? Yeah.