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A hard fork couldn't undo the damage if everybody wanted to. The exploiter/hacker/scammer, whatever you want to label them, can move ETH into other coins on exc
by 52-6F-62 9y ago
A hard fork couldn't undo the damage if everybody wanted to. The exploiter/hacker/scammer, whatever you want to label them, can move ETH into other coins on exchanges immediately. This will cause an innocent party to buy them, removing any chance of reversal affecting the person[s] responsible.
During the DAO hack, the funds were prevented from moving anywhere so a hard fork caused a direct reversal.
That's my understanding, anyway.
- chillydawg 9y agoEth is worth less right now, as there is an implicit chance that all transactions will be rolled back to a few hours ago. Hence any buyer of ETH will be getting a fair price for the risk. Wild west all round.
- 52-6F-62 9y agoNone of that is true at all. Rolling it back would do nothing for anybody affected, so there's no way a consensus would form. That and a majority of the hacked accounts were prevented loss by whitehats as things look now.
- chillydawg 9y agoThe probability of rollback is not 0% (or at least it wasn't last night when I wrote that comment). It might only be 0.2%, but it's not 0%.