bter hacked and lost 50m nxt

[Riverhead]

Very good for BTSX obv.

Cannot disagree more!

Ya, large thefts are bad PR. The people sitting on the fence or the sidelines don't distinguish the details of which product or how it was taken. They just read, "$1.7M USD worth of BTC like money stolen".

[Riverhead]

This is good news, may trigger a NxT sell off, and BTSX will take the #1 market cap spot for p2p asset market.

Though I wonder what is our policy if something like this happens? ie. if 1 billion BTSX stolen from bter, do we rollback or not rollback?

NO ROLLBACKS!


1) Even in this instance the flaw was not with NXT
2) From the of theft to the time of rollback there will be thousands of transactions that'll either have to be applied to the fork or lost.


It would be a nightmare.

But that would be a small price to pay? in order to not let a hacker control 25% of BTSX. The thousands of reversed transactions can be sorted out afterwards, and fully compensated by the exchange. This would be the "moral" choice I believe.

I think they only control 5%. I would have dumped a truck myself but bter not accepting deposits obv nor cryptsy it seems.

Very good for BTSX obv.

My feeling is that one of the big selling points of crypto is that the blockchain is written in stone. Immutable, secure, permanent. If we go down the road of a rollback for a theft then it opens the door to other reasons. What if a charity accidentally sends $25MM worth of BTSX to someone by mistake? A poor example but you get where I'm going. Once it's known that rollbacks are possible confidence in the integrity of the blockchain will be shaken.

[tonyk]

Very good for BTSX obv.

Cannot disagree more!

[Empirical1]

This is good news, may trigger a NxT sell off, and BTSX will take the #1 market cap spot for p2p asset market.

Though I wonder what is our policy if something like this happens? ie. if 1 billion BTSX stolen from bter, do we rollback or not rollback?

NO ROLLBACKS!


1) Even in this instance the flaw was not with NXT
2) From the of theft to the time of rollback there will be thousands of transactions that'll either have to be applied to the fork or lost.


It would be a nightmare.

But that would be a small price to pay? in order to not let a hacker control 25% of BTSX. The thousands of reversed transactions can be sorted out afterwards, and fully compensated by the exchange. This would be the "moral" choice I believe.

I think they only control 5%. I would have dumped a truck myself but bter not accepting deposits obv nor cryptsy it seems.

Very good for BTSX obv.

[liondani]

If I would be a NXT holder I would consider to buy some BTSX right now!  8)

[kokojie]

This is good news, may trigger a NxT sell off, and BTSX will take the #1 market cap spot for p2p asset market.

Though I wonder what is our policy if something like this happens? ie. if 1 billion BTSX stolen from bter, do we rollback or not rollback?

NO ROLLBACKS!


1) Even in this instance the flaw was not with NXT
2) From the of theft to the time of rollback there will be thousands of transactions that'll either have to be applied to the fork or lost.


It would be a nightmare.

But that would be a small price to pay? in order to not let a hacker control 25% of BTSX. The thousands of reversed transactions can be sorted out afterwards, and fully compensated by the exchange. This would be the "moral" choice I believe.

[Riverhead]

This is good news, may trigger a NxT sell off, and BTSX will take the #1 market cap spot for p2p asset market.

Though I wonder what is our policy if something like this happens? ie. if 1 billion BTSX stolen from bter, do we rollback or not rollback?

NO ROLLBACKS!


1) Even in this instance the flaw was not with NXT
2) From the of theft to the time of rollback there will be thousands of transactions that'll either have to be applied to the fork or lost.


It would be a nightmare.

[kokojie]

This is good news, may trigger a NxT sell off, and BTSX will take the #1 market cap spot for p2p asset market.

Though I wonder what is our policy if something like this happens? ie. if 1 billion BTSX stolen from bter, do we rollback or not rollback?

[xeroc]

duplicate:
https://bitsharestalk.org/index.php?topic=6973.new#new

[speedy]

Ouch.

I hope BTSX gets market pegged assets for all of the 2.0 projects such as NXT, ethereum etc. That way we can speculate on them without having to touch those centralized exchanges.

[tx3sim]

This is a huge amount. I feel sorry for them.
https://bitcointalk.org/index.php?topic=740147.0