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3 solutions proposed by Bter.com (200BTC deal or 310BTC bounty or Fork) singapore
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Author Topic: 3 solutions proposed by Bter.com (200BTC deal or 310BTC bounty or Fork)  (Read 84656 times)

zingzong

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Re: 3 solutions proposed by Bter.com (200BTC deal or 310BTC bounty or Fork)
« Reply #100 on: August 16, 2014, 08:41:04 pm »

1-2-5f NOW
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hash

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Re: 3 solutions proposed by Bter.com (200BTC deal or 310BTC bounty or Fork)
« Reply #101 on: August 16, 2014, 08:42:45 pm »

[...] But the exchanges control many peoples Nxt, so they can add a large weighting toward the new 'hardfork' chain without caring whether the people whose Nxt they own want that.

According to Jean-Luc the forging power is irrelevant for the hardfork adoption:


If enough users decide to switch to the 1.2.5f fork, it is still possible - however now the 1.2.5 nodes are not going to switch automatically to the other fork, no matter how better in terms of cumulative difficulty it becomes. In a way, it is no longer forgers that determine which fork will win, but what clients all individual users will decide to run - 1.2.5 or 1.2.5f.
[...]
« Last Edit: August 16, 2014, 08:56:08 pm by hash »
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Graviton

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Re: 3 solutions proposed by Bter.com (200BTC deal or 310BTC bounty or Fork)
« Reply #102 on: August 16, 2014, 08:43:43 pm »

Are you keeping all these coins in 1 (point of failure) account and access it from a single computer?
Yes. Account actually needs to be accessed from a computer. We have proprietary security mechanisms on how to access the reserve accounts.

The amount is currently not forging.

What about my question about leasing increasing security. Does leasing increase forging account security?
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zingzong

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Re: 3 solutions proposed by Bter.com (200BTC deal or 310BTC bounty or Fork)
« Reply #103 on: August 16, 2014, 08:43:50 pm »

I remember times when there were only two devs working on NXT - BCNext himself and CfB. I also remember times when releasing 3 clients per 24 hours becuase of bugs were absolutely normal. I remeber times when there were less then 10 nodes to support whole network and people were checking with each other what #block they have in their clients to not get on fork. I remember times when it was just enough to hear words from CfB "Guys, we need to go on new fork with 0.X.X NRS client" because of some bug to do it. And noone were yelling about centralization and other shit. And now you refuse to go on fork for save your own money just because of what exacctly? What changed since that times? Concider this theft as a crritical bug in core. And what about BTER offering to invest 200BTC in NXT? Still not enough? You would rather give that away to the hacker? What is fucking wrong with you people?

Exactly what im thinking!! WTF people its only a fork,
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starfishi

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Re: 3 solutions proposed by Bter.com (200BTC deal or 310BTC bounty or Fork)
« Reply #104 on: August 16, 2014, 08:43:59 pm »

Option 1 for me, because, really, bter you messed up roally, so try to clean it up, it will cost you, but you got the benefit of getting shown you your security leaks, which is worth a lot, as we see now.
Then option 2 if 1 fails: but beef up the bounty, there are already so many affected people, who would contribute to the bounty, in addition to bter, making it huge, causeing the thief to consider option 1 again. . .
Option 3: Out of the question, because the long term damage would make us all loose money: Realy big investors will think twice about investing their millions in NXT, if they can´t be shure there won´t be a "rollback" tomorrow, for whatever reason . . . At least not, untill we have a trustless system of 90%, for now, its still just over 50%, right?

just my 2 NXT´s
« Last Edit: August 16, 2014, 08:52:37 pm by starfishi »
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Damelon

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Re: 3 solutions proposed by Bter.com (200BTC deal or 310BTC bounty or Fork)
« Reply #105 on: August 16, 2014, 08:47:31 pm »

I remember times when there were only two devs working on NXT - BCNext himself and CfB. I also remember times when releasing 3 clients per 24 hours becuase of bugs were absolutely normal. I remeber times when there were less then 10 nodes to support whole network and people were checking with each other what #block they have in their clients to not get on fork. I remember times when it was just enough to hear words from CfB "Guys, we need to go on new fork with 0.X.X NRS client" because of some bug to do it. And noone were yelling about centralization and other shit. And now you refuse to go on fork for save your own money just because of what exacctly? What changed since that times? Concider this theft as a crritical bug in core. And what about BTER offering to invest 200BTC in NXT? Still not enough? You would rather give that away to the hacker? What is fucking wrong with you people?

I remember these days, too.

I also bolded the important difference between those times, and this one.
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Coradan

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Re: 3 solutions proposed by Bter.com (200BTC deal or 310BTC bounty or Fork)
« Reply #106 on: August 16, 2014, 08:47:52 pm »

Are you keeping all these coins in 1 (point of failure) account and access it from a single computer?
Yes. Account actually needs to be accessed from a computer. We have proprietary security mechanisms on how to access the reserve accounts.

The amount is currently not forging.

What about my question about leasing increasing security. Does leasing increase forging account security?

Yep, you can lease the amount to another account with less funds...  But the problem is that lease is effective after 1440 blocks... So you must forge with main account directly until those number of blocks are forged.
« Last Edit: August 16, 2014, 08:50:44 pm by Coradan »
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zingzong

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Re: 3 solutions proposed by Bter.com (200BTC deal or 310BTC bounty or Fork)
« Reply #107 on: August 16, 2014, 08:48:08 pm »

It may as well be a critical bug, the damage that can be done to the coin with the 50 million let alone the damage to the community
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domsch

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Re: 3 solutions proposed by Bter.com (200BTC deal or 310BTC bounty or Fork)
« Reply #108 on: August 16, 2014, 08:49:22 pm »

DGEX, what safety procedures do you have for these coins? You are forging with them means you are not putting them in a cold wallet, or are they leased?
The stash is not deployed for forging currently while we contemplate the repercussions of the personal commitment decision to business.

Not leased. I reckon leasing to our own account could offer more protection, would it not.

My thirst for the hard fork is not motivated by a will to bail out BTER or save their customers. It is motivated by the will to keep NXT coherent and alive by avoiding 50 Million dump to the open market.

A hardfork of Nxt would make it seem like just another, failed crypto-currency that could not withhold a hack on a centralized entity. What you are proposing is killing Nxt's future and it won't get us anywhere near the place you want it to be.

50m Nxt flooding the markets are very unlikely. The hacker wants an easy way out and I'm sure that we will see another outcome than him simply dumping all his Nxt and keep the price down. Nxt is already well respected now for not choosing the easy way out of this event but instead we chose to fight.

Taking the easy way out is not an option for us. The third-party that lead to this event will have to pay for it but not the entire Nxt community. We will continue to fight and push Nxt to where we intend it to be.

I personally lost 350k Nxt in the hack but I am very confident that we will be stronger after this event. The community will unite and fight together - we can push Nxt to the NeXT level.
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rickyjames

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Re: 3 solutions proposed by Bter.com (200BTC deal or 310BTC bounty or Fork)
« Reply #109 on: August 16, 2014, 08:51:50 pm »

@ freeworm:

Thank you for proposing options.  Give us more information so we can evaluate them.

Before offering another ransom, are you now in communication with thesircom?  Why would you trust him in Round Two?

Before posting a bounty, what progress have you made so far in tracing him?  Where are the IP logs of his hack?

@ thesircom:

Dude, you gotta be reading all this.  Where do YOU want to go from here?  If you think thousands of motivated people are gonna let you escape with way over a million bucks  that you can use in the future, guess again.  What is YOUR desired end game?  If you don't trust or want to deal with Bter, go with the deal by buybitcoinscanada.  PLEASE OPEN COMMUNICATIONS.
« Last Edit: August 16, 2014, 08:58:41 pm by rickyjames »
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jl777

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Re: 3 solutions proposed by Bter.com (200BTC deal or 310BTC bounty or Fork)
« Reply #110 on: August 16, 2014, 08:52:13 pm »

It may as well be a critical bug, the damage that can be done to the coin with the 50 million let alone the damage to the community
dont overestimate the damage 50 million dump will cause. At worst it will temporarily allow people like me to buy NXT at halfprice. This is not "damage"

Anyway, I am having an idea to help bter with solving this issue and to help the NXT'ers who had their NXT in bter recoup some or all of what they lost (over time). It is based on Lee's idea and I think there is a way to make it work.

Basically bter will need to do a bit of what poloniex did, just on a larger scale. I will post my proposal soon, I hope freeworm will be able to accept this

James
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zingzong

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Re: 3 solutions proposed by Bter.com (200BTC deal or 310BTC bounty or Fork)
« Reply #111 on: August 16, 2014, 08:53:00 pm »

Why? Dgex has been forging from beginning, I think.
No, just occasionally unintended.

We are considering forging for 1.2.5f though with 29M.

Good Man!!!!
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cromaclear

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Re: 3 solutions proposed by Bter.com (200BTC deal or 310BTC bounty or Fork)
« Reply #112 on: August 16, 2014, 08:53:41 pm »

Bter, shut The fuck up In order not to give details to the hacker and just talk about this issues with developers or people of confidence

Do the following: hire a good trader, open your nxt account on bter in order to buy and sell, put your btc and nxt funds you have in the traders hands (not the client funds but yours)...let the trader be a market maker buying low and selling high which is legal. You will earn money in this way and recover the losses
« Last Edit: August 16, 2014, 08:57:55 pm by cromaclear »
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zuqka

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Re: 3 solutions proposed by Bter.com (200BTC deal or 310BTC bounty or Fork)
« Reply #113 on: August 16, 2014, 08:56:28 pm »

DGEX, what safety procedures do you have for these coins? You are forging with them means you are not putting them in a cold wallet, or are they leased?
The stash is not deployed for forging currently while we contemplate the repercussions of the personal commitment decision to business.

Not leased. I reckon leasing to our own account could offer more protection, would it not.

My thirst for the hard fork is not motivated by a will to bail out BTER or save their customers. It is motivated by the will to keep NXT coherent and alive by avoiding 50 Million dump to the open market.

A hardfork of Nxt would make it seem like just another, failed crypto-currency that could not withhold a hack on a centralized entity. What you are proposing is killing Nxt's future and it won't get us anywhere near the place you want it to be.

50m Nxt flooding the markets are very unlikely. The hacker wants an easy way out and I'm sure that we will see another outcome than him simply dumping all his Nxt and keep the price down. Nxt is already well respected now for not choosing the easy way out of this event but instead we chose to fight.

Taking the easy way out is not an option for us. The third-party that lead to this event will have to pay for it but not the entire Nxt community. We will continue to fight and push Nxt to where we intend it to be.

I personally lost 350k Nxt in the hack but I am very confident that we will be stronger after this event. The community will unite and fight together - we can push Nxt to the NeXT level.
THIS
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freeworm

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Re: 3 solutions proposed by Bter.com (200BTC deal or 310BTC bounty or Fork)
« Reply #114 on: August 16, 2014, 09:02:14 pm »

Why? Dgex has been forging from beginning, I think.
No, just occasionally unintended.

We are considering forging for 1.2.5f though with 29M.

Thanks a lot man!
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jonny

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Re: 3 solutions proposed by Bter.com (200BTC deal or 310BTC bounty or Fork)
« Reply #115 on: August 16, 2014, 09:03:02 pm »

Option nr 1 is the only viable option.

Option 1!

Never bailout a exchange. Never bailout a bank!
I agree, I am active forging on the original blockchain. Companies with this level of security have nothing to do in the business of crypto-currencies.
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crimi

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Re: 3 solutions proposed by Bter.com (200BTC deal or 310BTC bounty or Fork)
« Reply #116 on: August 16, 2014, 09:05:00 pm »

Technical speaking we are behind block 720 so there is no reorg. Even if some people run and forge 1.2.5f. The hacker can still send nxt with a 1.2.5 client and node below. So whats the point?
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superresistant

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Re: 3 solutions proposed by Bter.com (200BTC deal or 310BTC bounty or Fork)
« Reply #117 on: August 16, 2014, 09:06:12 pm »

 
Who is going to buy NXT when most of the Nxt supporters lost everything and feel rejected ?

How will it affect the market ?

WolfofCrypto

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Re: 3 solutions proposed by Bter.com (200BTC deal or 310BTC bounty or Fork)
« Reply #118 on: August 16, 2014, 09:06:41 pm »

Domsch is right

I see there is a lot of newbie usernames in here and they all Crying for a rollback or a fork


Seems more like other cryptos out to destroy NXT

DGEX, what safety procedures do you have for these coins? You are forging with them means you are not putting them in a cold wallet, or are they leased?
The stash is not deployed for forging currently while we contemplate the repercussions of the personal commitment decision to business.

Not leased. I reckon leasing to our own account could offer more protection, would it not.

My thirst for the hard fork is not motivated by a will to bail out BTER or save their customers. It is motivated by the will to keep NXT coherent and alive by avoiding 50 Million dump to the open market.

A hardfork of Nxt would make it seem like just another, failed crypto-currency that could not withhold a hack on a centralized entity. What you are proposing is killing Nxt's future and it won't get us anywhere near the place you want it to be.

50m Nxt flooding the markets are very unlikely. The hacker wants an easy way out and I'm sure that we will see another outcome than him simply dumping all his Nxt and keep the price down. Nxt is already well respected now for not choosing the easy way out of this event but instead we chose to fight.

Taking the easy way out is not an option for us. The third-party that lead to this event will have to pay for it but not the entire Nxt community. We will continue to fight and push Nxt to where we intend it to be.

I personally lost 350k Nxt in the hack but I am very confident that we will be stronger after this event. The community will unite and fight together - we can push Nxt to the NeXT level.
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zingzong

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Re: 3 solutions proposed by Bter.com (200BTC deal or 310BTC bounty or Fork)
« Reply #119 on: August 16, 2014, 09:06:58 pm »

option 3 should be used for now to put pressure on the hacker, while options 1 and 2 remain valid.

let's hope 1 or 2 will solve this before DGS block, that way, it's still possible to get back on 1.2.5.

PUT PRESSURE ON THE HACKER !!
+50,000,000
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