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Forgers have been faced with a choice...
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Author Topic: Forgers have been faced with a choice...  (Read 255797 times)

Nxter

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Re: Forgers have been faced with a choice...
« Reply #1360 on: August 15, 2014, 09:37:43 pm »

If I see NXTs in My Funds on bter.com does that mean my NXTs aren't stolen?

try to withdrawal them..      ::)

I also see my funds at Mtgox when i check...     :'(
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jl777

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Re: Forgers have been faced with a choice...
« Reply #1361 on: August 15, 2014, 09:37:52 pm »

I just woke up

Isn't it like 2pm where you are?  ;)
there is no timezone where I am

So you are VERY cold.
nice try, I am not santa claus!
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Mexxer

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Re: Forgers have been faced with a choice...
« Reply #1362 on: August 15, 2014, 09:38:20 pm »

I'm going to continue running 1.2.5, I don't like roll backs, it will forever be a black eye on Nxt.  The 45Mil could tank the price temporarily, but a roll back could kill Nxt permanently (my opinion).

+1440

a rollback would be a fatal mistake!
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Pilot

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Re: Forgers have been faced with a choice...
« Reply #1363 on: August 15, 2014, 09:39:07 pm »

Why not MGW, try it... It is good!

How does one sell some NXT on MGW?

You basically buy the mgwBTC asset. You can then request a BTC payout using the mgw lite UI.
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mihnxt

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Re: Forgers have been faced with a choice...
« Reply #1364 on: August 15, 2014, 09:40:34 pm »

If I see NXTs in My Funds on bter.com does that mean my NXTs aren't stolen?

try to withdrawal them..     :'(

withdrawal is disabled, but maybe this is caused by security reason?
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Mexxer

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Re: Forgers have been faced with a choice...
« Reply #1365 on: August 15, 2014, 09:40:58 pm »

If I see NXTs in My Funds on bter.com does that mean my NXTs aren't stolen?

They are stolen. Everybody who stored Nxt on BTER got robbed. The balances still show up but the Nxt is gone, and all Nxt markets are disabled.
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Pilot

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Re: Forgers have been faced with a choice...
« Reply #1366 on: August 15, 2014, 09:41:51 pm »

It is very simple, http://multigateway.org - Software Download

Yes I have it enabled since its release.

what do you mean then?

I have MGW in my client. I asked how I can sell NXT for BTC through it. ;)

Excuse my ignorance -- all I see is this:


Go into the AE and buy mgwBTC. That is how you "sell" NXT for BTC.
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Pilot

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Re: Forgers have been faced with a choice...
« Reply #1367 on: August 15, 2014, 09:46:17 pm »

msin, see here: https://nxtforum.org/news-and-announcements/im-providing-a-bounty-to-bter-thief-to-return-45m-nxt-this-is-the-discussion/

He already got 112 BTC. Which was what he request. Perhaps there is honor amount thieves and he will follow through. But, I doubt it.
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Cassius

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Re: Forgers have been faced with a choice...
« Reply #1368 on: August 15, 2014, 09:47:38 pm »

We still need a solution for when BTER starts allowing withdrawals. There is a chance to do things right and well here (under the circumstances) by implementing a solution that only NXT could.
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megashira1

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Re: Forgers have been faced with a choice...
« Reply #1369 on: August 15, 2014, 09:49:24 pm »

We still need a solution for when BTER starts allowing withdrawals. There is a chance to do things right and well here (under the circumstances) by implementing a solution that only NXT could.

Withdrawals? BTER is just going to default on the NXT holdings.
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Pilot

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Re: Forgers have been faced with a choice...
« Reply #1370 on: August 15, 2014, 09:51:44 pm »

Very difficult choices.

All these robberies are a huge problem, with a lot of people losing their savings, exchanges losing all their job/business, developers that see how their creation goes to hell.

Crypto developers should start developing some kind of mandatory multisig or temporary lock with posterior verification after 100 blocks for any account that holds more than a 1% of any coin.

In the meat world people move huge amounts of money with armored vehicles for small amounts, they would even use the army if a state were to move a 1% of their total funds, crypto should do the same and make sure that such a big amounts need a huge security, even if uncomfortable.

No.  What the world need is a truly decentralized altcoin exchange.  No tokens, assets or multigateways could compare to a truly decentralized altcoin exchange.  Your balance stays in your wallet, not some public facing exchange with weak security.

How would that be implemented?
subatomic direct peer to peer trading, already coded and will be part of InstantDEX

Is there a white paper on this? You agree to sell me 1000 NXT for .05 BTC. You send direct to my wallet, I send direct to yours. I don't see how both sides sending is enforce by some middle trustless service.
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apenzl

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Re: Forgers have been faced with a choice...
« Reply #1371 on: August 15, 2014, 09:52:55 pm »

We still need a solution for when BTER starts allowing withdrawals. There is a chance to do things right and well here (under the circumstances) by implementing a solution that only NXT could.

Speak up.  :o

Pilot

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Re: Forgers have been faced with a choice...
« Reply #1372 on: August 15, 2014, 09:54:01 pm »

If I see NXTs in My Funds on bter.com does that mean my NXTs aren't stolen?

No, that's not what it means. Your NXT balance on your BTER account is an entry in a database. It is "technically" backed by the NXT in BTER's wallet, which is empty.
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rickyjames

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Re: Forgers have been faced with a choice...
« Reply #1373 on: August 15, 2014, 09:54:49 pm »

AS OF THIS POST, APPROX FIVE HOURS BEFORE FORK OPTION IS GONE AT BLOCK 210606 APPROX 3AM GMT / 11PM Eastern

Jean Luc has posted a fork client for forgers that affects only the Bter transaction:

https://nxtforum.org/nrs-releases/nrs-v1-2-5d/msg83487/?topicseen
« Last Edit: August 15, 2014, 09:57:27 pm by rickyjames »
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Jacinto

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Re: Forgers have been faced with a choice...
« Reply #1374 on: August 15, 2014, 09:55:16 pm »

Do you know what is starting to break my balls now? That "freeworm" the so-called dev of Bter is online and posting that "he is forging" but cannot answer shit about which is the current status of Bter and the hacking issue.  >:(
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BCNext son.

Pilot

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Re: Forgers have been faced with a choice...
« Reply #1375 on: August 15, 2014, 09:56:19 pm »

We still need a solution for when BTER starts allowing withdrawals. There is a chance to do things right and well here (under the circumstances) by implementing a solution that only NXT could.

Speak up.  :o

I'm sure he means forge with 1.2.5d.
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jl777

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Re: Forgers have been faced with a choice...
« Reply #1376 on: August 15, 2014, 09:57:35 pm »

Very difficult choices.

All these robberies are a huge problem, with a lot of people losing their savings, exchanges losing all their job/business, developers that see how their creation goes to hell.

Crypto developers should start developing some kind of mandatory multisig or temporary lock with posterior verification after 100 blocks for any account that holds more than a 1% of any coin.

In the meat world people move huge amounts of money with armored vehicles for small amounts, they would even use the army if a state were to move a 1% of their total funds, crypto should do the same and make sure that such a big amounts need a huge security, even if uncomfortable.

No.  What the world need is a truly decentralized altcoin exchange.  No tokens, assets or multigateways could compare to a truly decentralized altcoin exchange.  Your balance stays in your wallet, not some public facing exchange with weak security.

How would that be implemented?
subatomic direct peer to peer trading, already coded and will be part of InstantDEX

Is there a white paper on this? You agree to sell me 1000 NXT for .05 BTC. You send direct to my wallet, I send direct to yours. I don't see how both sides sending is enforce by some middle trustless service.
there is no whitepaper, I just setup synchronized overlapped micropayment channels between the two coins. just google "bitcoin micropayment channels" The problem is that NXT does not have the required support for some of the required things to implement this (like delayed execution and multisig), but it works between any coin that is a bitcoin fork. There is a small risk of ~1% (using 100 micropayments), but for a large trade you could specify 1000 micropayments and reduce the risk to 0.1%

James
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rstanaford

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Re: Forgers have been faced with a choice...
« Reply #1377 on: August 15, 2014, 09:58:19 pm »

I'm surprised nobody mentions Cryptsy as an alternate centralized exchange to BTER. I use them almost exclusively and like them.

They ended up with horrible reputation due to continuous problems a couple of months ago.
Been working fine for me for a couple months. They're nxt wallet is offline right now, I think, do to the current situation. I can't place orders. Haven't tried depositing or withdrawing.
I'll second that.  Those of you railing against Cryptsy obviously haven't used it recently.  My last three withdrawals of NXT have been received by my wallet within an hour of the request. 

And as for "trustworthiness" (chuckling), whom now do you run to?  Exchanges are not banks.  Your assets are at risk regardless of whether they are in the order book.

And though an apparent lack of empathy might be off putting, you were a fool to think differently.

I initially voted (in the poll) in favor of the rollback, but I've taken time to reconsider, as many have.  If we go back and change history, at it were -- this one time because the hubris and negligence were so egregious -- then we can come up with any manner of justification at a later time.

No, preserve the virginity and integrity of the block chain.  If you soil it this (one) time to satisfy a carnal need for justice and redemption, you ruin it forever.

NXT Acct: NXT-6FC9-DGWA-XHFN-765BS

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cobaltskky

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Re: Forgers have been faced with a choice...
« Reply #1378 on: August 15, 2014, 09:58:49 pm »

Hm.  With 5% of all NXT in one account, you could do some serious forging over the coming days...
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apenzl

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Re: Forgers have been faced with a choice...
« Reply #1379 on: August 15, 2014, 10:04:41 pm »

@freeworm:
http://nxter.org/protect-your-nxt/

(history seems to repeat itself - and I'm tired of writing such articles)
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