Are we in for another Hard Fork in ETH??

thesmokingmanthesmokingman Member Posts: 152 ✭✭
edited July 2016 in Mining
Just read this Coindesk article:

http://www.coindesk.com/rise-replay-attacks-ethereum-divide/

and this Bitcointalk thread:

https://bitcointalk.org/index.php?topic=1566742.0

Followed by the news that Coinbase could be insolvent and raising BTC fees to pay for it:

https://bitflikz.com/blogs/news/critical-security-update-from-bitflikz-gdax-coinbase-may-be-insolvent

If this is true it's not looking good for ETH if we have to go through another HF to fix the first HF/replay attacks since obviously ETC isn't going to fork. If this is true, do you think it will affect investors and business adoption and use?

Looks like it may be time to invest in some NXT/Ardor...

Comments

  • workwork Member Posts: 2,084 ✭✭✭✭
    No reason for Eth to fork over transaction replays. ETC can do it if they care, but they probably won't.

    As for exchanges "owing" ETC, that's simply not the case. Just because Polo decided to distribute a secondary token to users with a balance doesn't mean any other exchange is obligated to do so. In fact, it can most certainly be argued that Polo was acting in bad faith by allowing trading on the losing chain.
  • thesmokingmanthesmokingman Member Posts: 152 ✭✭
    work said:

    In fact, it can most certainly be argued that Polo was acting in bad faith by allowing trading on the losing chain.

    I definitely agree with you on this part as I don't think we would be having many of the conversations we're having today if the ETC pair wasn't added to Polo et al..If you don't monetize something, it often takes the motivation away to pursue it for most except the small fanatical crowd who will support it even at a loss...
  • workwork Member Posts: 2,084 ✭✭✭✭
    @greenuser yup, FOMO can be powerful. But Polo started it - I doubt anyone else would have listed ETC pairs if not for Polo and Bittrex. Polo, IMO, single-handedly tried to legitimize the losing fork.
  • shutfushutfu Member Posts: 320 ✭✭
    what a mess. I have ~30% of my eth stored on gdax (only because its the easiest of the ways to buy it with cash, i actually hate greedy coinbase and hated having to use it)
  • BiodomBiodom Member Posts: 693 ✭✭✭
    edited July 2016
    @work
    As I currently see it, there was a vote, large majority voted for ETH, therefore ETC that is persisting in disagreement is a rebellion against majority. Polo conjured this and is liable.
    From my perspective, it caused about 7% economic damage to my ethereum account so far.
    Post edited by Biodom on
  • workwork Member Posts: 2,084 ✭✭✭✭
    @Biodom that sounds exactly correct to me. Problem is people acquiescing on the decision and so kicking and screaming about the "votes."

    The vote, was unbelievable clear. Eth forked, and the entire exchange and mining community sided with one chain (by every metric available). Now a small group are perpetuating the losing chain.
  • CrypTechCrypTech Member Posts: 1
    Biodom said:

    @work
    As I currently see it, there was a vote, large majority voted for ETH, therefore ETC that is persisting in disagreement is a rebellion against majority. Polo conjured this and is liable.
    From my perspective, it caused about 7% economic damage to my ethereum account so far.

    The amount of money grabbing polo has done, just nuts. Unfortunate there are not more avenues of recourse. I had quite a bit on loan, no ETC for me.
  • newmznewmz AustraliaMember Posts: 299 ✭✭✭
    I got kicked off that terrible "trollbin" or whatever it's called on POLO - the live chat thing, because I was criticising polo and encouraging the idea of a 51% attack. I was basically trolling but I wasn't saying anything really nasty, one of the ops just obviously didn't like what I had to say. I think I said something like "poloniex created the ETC ghetto, and mercenary speculators are the only reason it exists". Then I got kicked.
  • WoolingJumperWoolingJumper Member Posts: 32
    newmz said:

    I got kicked off that terrible "trollbin" or whatever it's called on POLO - the live chat thing, because I was criticising polo and encouraging the idea of a 51% attack. I was basically trolling but I wasn't saying anything really nasty, one of the ops just obviously didn't like what I had to say. I think I said something like "poloniex created the ETC ghetto, and mercenary speculators are the only reason it exists". Then I got kicked.

    You are acting like a young girl smh.It is their place, they run it and maintain it, you cannot just go there and impose your thoughts to everyone lmao
  • shutfushutfu Member Posts: 320 ✭✭
    I guess we will have to wait for the attacker/hacker to dump his ethc for ethc to die
  • dukuudukuu Member Posts: 3
    shutfu said:

    I guess we will have to wait for the attacker/hacker to dump his ethc for ethc to die

    ETC seriously looks like a greater fool's game right now. Biggest winners are Polo through trading fees, and obviously the hacker who can wait for the price to pump some more so his capitalization is higher. Before dumping his ETC, he will surely short ETC as well, as he did with ETH.
  • newmznewmz AustraliaMember Posts: 299 ✭✭✭

    newmz said:

    I got kicked off that terrible "trollbin" or whatever it's called on POLO - the live chat thing, because I was criticising polo and encouraging the idea of a 51% attack. I was basically trolling but I wasn't saying anything really nasty, one of the ops just obviously didn't like what I had to say. I think I said something like "poloniex created the ETC ghetto, and mercenary speculators are the only reason it exists". Then I got kicked.

    You are acting like a young girl smh.It is their place, they run it and maintain it, you cannot just go there and impose your thoughts to everyone lmao
    Why not? I have a POLO account, they have an open chat client and I have an opinion. I wasn't imposing anything I was just telling them what I think of them. They have created a market for a pretty worthless coin and they are exploiting the rivalry between factions with different ethics and points of view to make money. I know that's what they are there for but I think I have every right ti criticise if I disagree with their motives and the way they conduct their business.
  • shutfushutfu Member Posts: 320 ✭✭
    dukuu said:

    shutfu said:

    I guess we will have to wait for the attacker/hacker to dump his ethc for ethc to die

    ETC seriously looks like a greater fool's game right now. Biggest winners are Polo through trading fees, and obviously the hacker who can wait for the price to pump some more so his capitalization is higher. Before dumping his ETC, he will surely short ETC as well, as he did with ETH.
    I'm guessing everyone is going to be shorting ethc here in the next week or so, lol
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