/biz/ - Business & Finance

I'll see you all on /rgt/

>user mistakenly takes control of hundreds of wallets

What? Were these wallets on an exchange?

>>4254910
No it was just the parity wallet

>>4254888

>"There's unfortunately no way to recreate the code without a hard fork. Any solution which makes the locked funds accessible requires a hard fork."

They did this intentionally

>>4254888
no worries, wel'll CTRL Z that shit, in the end ETH will have more rollbacks than Walmart

>>4254921
whats that mean?

>>4255572
my god
these are the people trading with us
this is not the smart money biz
we are FUCKED.

The big global banks have, over the past few centuries, done a lot of bad things, but you know one thing that seems never to happen?

Banks don't just delete your money. They may open up fake accounts or mess up mortgage relief or expose your email address to hackers, and they may invest in garbage and become insolvent and require a bailout or an FDIC takeover, but you just never really hear about a bank sheepishly admitting "oh yeah we just deleted $280 million of checking accounts, sorry, nothing to be done about it."

>>4255601
When banks bait people into investing in crap with false advertising / forged ratings you get the same result - aaand it's gone!

And likewise whenever one sucker loses the others win. With every locked crypto everyone not scammed wins cause their relative wealth increases.

AAAAAAAAAHAHAHAHHAHAHAHAH ANY HOPES FOR THE FUTURE OF ETHEREUM ARE NOW GONE HAHHAHAHAHAHAHAHHAHA BUTTBLASTED

>>4255601
Oh well! People often talk about blockchain technology as a way to make things -- payments, securities ownership ledgers, etc. -- more secure. But actually existing blockchain applications in the wild -- the actual cryptocurrency systems that are used to store millions of dollars' worth of value -- have a security record that would cause any regular bank to shut down in disgrace.

>>4255590
We need dumb money to make money

>>4254888
>destroying them in a panic while trying to give them back
kek thats not what happened

>>4255572
Unless you understand the structure of multisig wallets you're not going to understand a short explanation, and it's too much work to post the long explanation here. Google until you find the coindesk article that walks you through what happened.

"Haha stockfag enjoy your 2% gains grandpa"

*life savings deleted*

>>4256807

>>4255756
literally never happens with banks.

>>4255756
>implying crypto markets are trustworthy

>>4255805
It's actually pretty secure considering there is no way to retrieve the funds. Its insanely secure. One fuck up and you are done boyo.

Vitalik must be facing a hard decision though, will he bail them out or not? He's prob looking into to it with his team of advisers and lawyers ATM.

The sum would be large enough to justify a hardfork. On the other hand this is parity's own fault, not the devs of ethereum. My opinion is Vitalik should leave it as is and the programmer/person responsible for programming this bug + his superiors need to be audited and sued for negligence. Some security expert to review the code would be cheap as fuck compares to a 300 million fuck up.

>>4255560

Kek'd

Why the fuck is eth still such a high market cap when it seems to get hacked/fucked every week now. Surely there are better options?

>>4257005
I would hire 14 year old that can pull this kind of shit 'accidentaly'.

Also would hard fork actually work for this?

>>4255560
> So you lose some money, but it's ok because it wasn't real crypto so you try again.

>>4256960
Holy fuck.

> Smart money

there won't be a fork, especially when the eth holders see the bullrun that bitcoin is about to experience after their fork got shut down.

the dao fork should never have happened, and in time eth holders realzed this, and they're not going to make the same mistake again

>>4254888
>mt gox tier news
>still glued to $300
What the FUCK is Ethereum's problem?

Will this board finally become a place for sensible discussion of investment in assets with actual value?

>>4257491
its not close to mt gox, the eth just got burned, no "hacker" has it, its just gone.

and it affected barely anybody, a few whales and that's it, mtgox hit hundreds/thousands of people. most people on ethereum don't use multisig precisely because it's too complicated

>>4254888
that's an order of magnitude lower than the amount of fiat lost everyday

>>4257541
true, was just a dumb statement i guess

>>4257541
This. And teams who might have lost all their funding, be careful hodling those tokens friends.

>>4257491
you've been lied to, that's the problem

it wasn't a problem with ethereum, it was a problem of lazy partiy devs making a shitty wallet contract

>>4256960
>Be crypto trader
>Put your money into what you think is a good investment
>Creators of the coin just kinda go "Actually nevermind lol we're not doing what we promised"
>All of your money vanishes in an instant and there not nothing you can do about it
>Somehow perfectly legal and the coin creators aren't accountable at all

L O L

>>4257541
So essentially, the money is still there, but it's locked forever now?
Top tier security.

kek

>>4257720
yes

>>4256807

>MY SIDES

Eth cucks never learn.

They have 2 options
>Fork coin, which will kill price long term due to no decentralization
>Dont fork, $300 milllion lost, people will be killed over this. I suspect mr devops199 is considering an hero as we speak.

MOMMY ALL MY COINS ARE GONE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Who the fuck uses the Parity wallet? It got hacked like multiple times now. If you still use that garbage, you deserve it.

>>4256960
>implying he didn't sell at the peak

Guys can you help a newfag here? I'd like to convert my ltc to btc on bittrex, but how would i do it so i have more value in btc then i did previously in ltc???

>cryptocucks

>>4257005
>oh shit we fucked up betyer call vitalik for another hard fork
theres something called precedent in court anon

actually this is fine, its like burning diamonds to reduce the diamond supply

value of diamond increases

economy 101

>>4256960
>Never heard of derivatives

Wew lad

>>4258863
WHY DID IT HAVE TO BE MY DIAMONDS

>>4258884
because you used some shitty diamond that was actually just glued together small diamonds and the economy stopped accepting those as "a diamond"

>>4258863
Wait, i thought ETH had infinite supply though? So the deflation is only temporary, until they mine more.

>>4257182
fuck you are dense.. its a smart contract running on the ethereum network written by the parity team. It's like saying amazon.com got hacked, why do we still use the internet surely there are better options.

>This is the kind of guy shilling their shitcoin flavor of the month

>>4258638
I have learned from BTC that neither of these options has any lasting negative impact

>>4254888
>>4254888
>>4254888

>>4259027

This is why open source sucks dick

major vulnerability / exploits can be seen by everyone and nobody notices a damn thing until it completely fucks over - by nobody else than "a noobie just experimenting"

name one reason this bug wasn't patched before shit the fan

>>4259190
>t. Microsoft

>>4259027
dam roasties

can someone eli5 this? Like the technicals. Why do they let anyone edit the code?
Why didnt this person steal all the eth?

>>4257397
Remember DAO?

And this is why you trade stocks.

If you hardfork, hackers win

>>4256960
i've been laughing for 5 minutes straight while looking at that image, i think somethings wrong with me, literally 5 minutes non-stop

everything about is perfect from the jew pepe to all the way down the line, holy fuck

>tfw when not one of the suckers

LMAO @ ur wallets

>>4256960
F

Send some Satoshi love :D
12TxduPcaQPaisHPryEugePybFVt7UUAuG

>>4257719
Well the B2X futures were basically bets with market-driven odds, and they weren’t issued by the B2X creators. Buying them was more like betting on Hillary Clinton to win the election. Too bad.