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But Bitcoin and Ethereum can do this too. In fact Ethereum already has done it (and is arguably designed to do it). Ethereum simply has to convince a majority o
by dcow 9y ago
But Bitcoin and Ethereum can do this too. In fact Ethereum already has done it (and is arguably designed to do it). Ethereum simply has to convince a majority of the participants to fix the bug and reset to a good hash (whereas bitcoin would need a majority of the mining power unless they went out of band and used old school politics/force/coercion).
- riffraff 9y agoThey did this already? I'm guessing it happened in the dao accident? If so, this seems terrifying, what if I had accepted stolen ETH to sell physical goods?
- lsc 9y agoIt seems to match the real world in some ways; If I barter and end up accepting stolen physical goods, things can go rather badly for me.
- riffraff 9y agoyes, but in many (most?) legal systems you cannot change the rules so you are liable for past events. I.e. if you accept counterfeit money, it's on you, but your money should not become counterfeit overnight.
- tromp 9y agoThe stolen DAO funds were sitting in a time-locked account and couldn't be spent for several weeks.