Crypto Currency Thread
Discussion
wombleh said:
I'm with x5x3 on this one, you don't get people suing Dennis Richie for all the buffer overflows in code they wrote in C or suing Redhat because they accidentally deleted the wrong file.
Well it depends how you look at it. What x5x3 said was:x5x3 said:
Blaming Ethereum for these issues is like blaming any bug in any derivative of the C programming language on Mr Ritchie.
...and I disagree with that.The C language makes it very easy for programmers to make trivial and virtually invisible errors which have unpredictable and often catastrophic results. Virtually every security bug in OSs are down to these kind of errors for example. As you say, buffer over runs, variable overflows etc.
Likewise it makes it superbly easy for a talented programmer to hide nefarious code in plain sight. Look at the entries in the Underhanded C contest for many examples of this.
So yes, the C language (and by extension Ritchie) is IMO at least partially responsible for a decent proportion of bugs for this reason.
Another language i would put in this category is PHP because with its weak type system, you can easily hide weird/naughty behaviour simply by using the wrong type of compare, e.g == instead of ===.
So to completely absolve them of blame is bizarre to me.
It's like if Ford made a car where if you steered hard at speed, the wheels fell off. You could say "well a good driver wouldn't steer hard at speed" and that's true. But the wheels shouldn't fall off anyway. People should be protected from minor mistakes causing catastrophic issues.
And where is the recovery mechanism for orphaned Eth? The only way is yet another hard fork, potentially f
king things up for even more people.wombleh said:
That's the whole purpose of it, a distributed computing engine (and more in future like distributed storage). Eth is not intended to be a currency, more a means of paying for processing time on the EVM.
Even cooler idea then, but just not something I want to risk my own money with.Behemoth said:
Bad analogy. Ethereum's scripting language is intrinsic to the financial ecosystem they want to build.
The aim of Ethereum isn't to build a financial ecosystem, they're building a distributed processing platform which can be used for anything you want with the benefits of blockchain. The "currency" is actually just a DoS mitigation. Hence the analogy, those things are just platforms for people to use however they want. Your statement is that they're liable for it, however that would require some kind of negligence on their part. In the postmortum it appears that the Parity team wrote code that went against the guidance published by Ethereum. We're not about to throw out any turing complete languages because there is a risk of people mucking up, people will always find a way to do that.
budgie smuggler said:
Another language i would put in this category is PHP because with its weak type system, you can easily hide weird/naughty behaviour simply by using the wrong type of compare, e.g == instead of ===.
So to completely absolve them of blame is bizarre to me.
I'm not saying in those cases they couldn't improve the situation but the discussion here was whether PHP are liable for damage caused by people writing dodgy PHP. Except in this case it's debatable whether the code was even the issue or the way they deployed the contract, it was more about unintended consequences than a technical fault.So to completely absolve them of blame is bizarre to me.
Solidarity could throw more warnings for potential snags, but it'll probably always be possible to find issues and I've no doubt we will continue to see people mucking up and taking losses. That is why secure systems tend to get code reviews, pen tests, etc and as things like the recent Huddle issue shows even after all that you can still have issues. Doesn't mean the underlying platform has incurred any kind of liability or that it shouldn't be used any more.
x5x3 said:
this is an interesting perspective on the launch of the CME Futures coming soon - do people agree with the analysis?
Those obsessed with gold value have a conspiracy theory that gold futures have long suppressed the price of that asset. Why would it be the opposite for Bitcoin? I think Bitcoin will experience price bubbles and pops for a long while yet & financial instruments like futures will actually work to mitigate the volatility inherent in a new asset as its price is discovered. Short term, yes, BTC will pump because it is getting into the mainstream of Wall Street mechanisms. But remember this futures contract is cash settled, so is fundamentally disconnected from the asset it trades.avinalarf said:
Simple question.
Has anybody on this forum successfully exchanged their crypto currency into hard cash ?
If so how did you do it ?
What price did you get against the price of the day ?
Yes, exchange (limit) sale on Kraken (Euro market); then SEPA transfer to UK account.Has anybody on this forum successfully exchanged their crypto currency into hard cash ?
If so how did you do it ?
What price did you get against the price of the day ?
The sale was at the rate I chose to sell at (obviously) and paid the usual trading fees; the transfer cost the SEPA transfer fee (a massive 9 Euro cents) and the Euro:GBP exchange rate.
The Spruce goose said:
I exchanged 10k over a few days into 'hard cash' on local bitcoins. Did it in chunks to reduce risk cost more but made more sense.
Wait.. what?! You have SOLD BTC? Are you mad ?!? Have you not been paying attention to the BTC thread? It will be $10k by Christmas and then off to the moon after that, making you a billionaire before 2020. 100% guaranteed. I read it on r/bitcoin too.Ted2 said:
Wait.. what?! You have SOLD BTC? Are you mad ?!? Have you not been paying attention to the BTC thread? It will be $10k by Christmas and then off to the moon after that, making you a billionaire before 2020. 100% guaranteed. I read it on r/bitcoin too.
I looked back to nov 2016 and say you had 1kgbp of a few of the top 10 coins it worth 50k at least. I'm not greedy i honestly never expected 10x 20x, i actually think in the long run it is bad, i bought loads of coins at a 1/10 of there value in march, not massive amounts, but made enough to keep me happy. i was hoping it would cool off but it is still hot, which is great for making money, but like ive said actual usage hasn't really changed much, about 300k and i think the fees will limit btc from actual mainstream usage, so the value is being decided by exchanges. imagine using a stock as a monetary value exchange it just wouldn't work. it is interesting times but at we at the peak or the end on the beginning. In the back of my mind it always feels like a pack of cards on the brink of collapse.
The Spruce goose said:
I looked back to nov 2016 and say you had 1kgbp of a few of the top 10 coins it worth 50k at least.
I'm not greedy i honestly never expected 10x 20x, i actually think in the long run it is bad, i bought loads of coins at a 1/10 of there value in march, not massive amounts, but made enough to keep me happy. i was hoping it would cool off but it is still hot, which is great for making money, but like ive said actual usage hasn't really changed much, about 300k and i think the fees will limit btc from actual mainstream usage, so the value is being decided by exchanges. imagine using a stock as a monetary value exchange it just wouldn't work. it is interesting times but at we at the peak or the end on the beginning. In the back of my mind it always feels like a pack of cards on the brink of collapse.
How did your cash-out process go just out of interest? With the price wildly fluctuating, how much did you gain/lose between first setting it up the transfer and the transfer actually happening? What fee did you set and how long did it take to confirm?I'm not greedy i honestly never expected 10x 20x, i actually think in the long run it is bad, i bought loads of coins at a 1/10 of there value in march, not massive amounts, but made enough to keep me happy. i was hoping it would cool off but it is still hot, which is great for making money, but like ive said actual usage hasn't really changed much, about 300k and i think the fees will limit btc from actual mainstream usage, so the value is being decided by exchanges. imagine using a stock as a monetary value exchange it just wouldn't work. it is interesting times but at we at the peak or the end on the beginning. In the back of my mind it always feels like a pack of cards on the brink of collapse.
Bit of interesting news about American Express tying up with Ripple today. It created a bit of a jump, glad I got some last night.
I'm still going to try and get hold of more as it's only a matter of time before the industry adopts it.
Only question is how do you quantify the value of a coin?
I'm still going to try and get hold of more as it's only a matter of time before the industry adopts it.
Only question is how do you quantify the value of a coin?
you can't quantify the value of a ripple coin. You do know it is the protocol not the coins the banks use. i understand for them to use ripple tech, they buy 300 ripples, that is it. I'm not a fan of ripple, it is great tech but ripple labs buys and sells coins to control the price.
well the value for ripple labs was 65 million usd, which is what it made in a month selling/releases 300 million coins.
well the value for ripple labs was 65 million usd, which is what it made in a month selling/releases 300 million coins.
Edited by The Spruce goose on Thursday 16th November 21:44
https://medium.com/power-ledger/australian-governm...
Big news for Power ledger today. Aussie government very into renewable resources.
Big news for Power ledger today. Aussie government very into renewable resources.
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