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Not all crypto currencies are the same. Ethereum has had lots of these hacks, due to bugs in the smart contracts provided. You don't see these types of (proto

Not all crypto currencies are the same. Ethereum has had lots of these hacks, due to bugs in the smart contracts provided. You don't see these types of (protocol level) hacks in bitcoin, litecoin, or monero.

dumbfoundded 5y ago
Ethereum actually offers interesting features and possibilities as well as being a currency. Bitcoin, litecoin and especially monero are only useful when you want to spend money in a way a government doesn't want you too.
- deleted 5y ago
  [deleted]
- DJBunnies 5y ago
  Solutions for problems that don't exist. While opening up a huge attack surface. Blockchains don't need to be turing complete, for reasons like the contents of this article.
twox2 5y ago
These aren't protocol level hacks. These hacks exploit logic flaws in the smart contracts.
- DJBunnies 5y ago
  Which are enforced by the protocol.
  - zionic 5y ago
    If an AWS hosted site gets SQL injected who is to blame?
    - MonkeyClub 5y ago
      Russia? /s
    - DJBunnies 5y ago
      If your solution blindly trusts buggy user-space code due to its construction, is it not to blame?
- codehalo 5y ago
  Apparently, this wasn't a smart contract hack: https://twitter.com/Mudit__Gupta/status/1425115177771405312 https://twitter.com/Mudit__Gupta/status/1425115177771405312
  - stavros 5y ago
    Ah, the old "single-key multisig".
    - DSingularity 5y ago
      It was a multisig.
      - stavros 5y ago
        It's not multisig if keys_required=1.
  - twox2 5y ago
    Doesn't the key compromise make it even less of a protocol hack?
spookthesunset 5y ago
> Ethereum has had lots of these hacks, due to bugs in the smart contracts provided. Code is law, bro. These aren't hacks or bugs. They are inert chunks of code that all play by. Even "bugs" in the execution engine are fair game when code is law... The fine folks who carefully investigated the DAO smart contract and transferred lots of its value to their possession are just as entitled to that wealth as the people who possessed it in the first place. There was no hacking and no thievery. The smart contract was executing exactly as it was written. I argue the only people playing in bad faith were the makers of ethereum and the DAO, who rolled back the blockchain and stole the funds back into their hands. Now this argument sounds silly, but I stand by it. Code is law is a horrible idea. But if you want to live in that world... all "bugs" are just as much of the "law" as the stuff that isn't a "bug".
- telxoss 5y ago
  Post like this are why I read this board. Going to think about this while I walk. That is a tough argument to counter.
- DJBunnies 5y ago
  No argument..bro. Still, last time they called it a bug and rolled back the chain.
- diamond559 5y ago
  The Ethereum core devs didn't unilaterally decide to roll back the blockchain, that's not how the governance system works. The majority of the community decided to return the funds, the dissenters left and formed Ethereum Classic. The community decides what is law, not the code or the devs.
  - spookthesunset 5y ago
    Community == mob rule.
  - jshen 5y ago
    Next they’ll learn why we have this thing called democracy and how it’s used to enact laws and oversee enforcement. Wait, what is crypto about again? I can’t figure it out.

dumbfoundded 5y ago

Ethereum actually offers interesting features and possibilities as well as being a currency. Bitcoin, litecoin and especially monero are only useful when you want to spend money in a way a government doesn't want you too.

deleted 5y ago
[deleted]
DJBunnies 5y ago
Solutions for problems that don't exist. While opening up a huge attack surface. Blockchains don't need to be turing complete, for reasons like the contents of this article.

twox2 5y ago

These aren't protocol level hacks. These hacks exploit logic flaws in the smart contracts.

DJBunnies 5y ago
Which are enforced by the protocol.
- zionic 5y ago
  If an AWS hosted site gets SQL injected who is to blame?
  - MonkeyClub 5y ago
    Russia? /s
  - DJBunnies 5y ago
    If your solution blindly trusts buggy user-space code due to its construction, is it not to blame?
codehalo 5y ago
Apparently, this wasn't a smart contract hack: https://twitter.com/Mudit__Gupta/status/1425115177771405312 https://twitter.com/Mudit__Gupta/status/1425115177771405312
- stavros 5y ago
  Ah, the old "single-key multisig".
  - DSingularity 5y ago
    It was a multisig.
    - stavros 5y ago
      It's not multisig if keys_required=1.
- twox2 5y ago
  Doesn't the key compromise make it even less of a protocol hack?

spookthesunset 5y ago

> Ethereum has had lots of these hacks, due to bugs in the smart contracts provided. Code is law, bro. These aren't hacks or bugs. They are inert chunks of code that all play by. Even "bugs" in the execution engine are fair game when code is law... The fine folks who carefully investigated the DAO smart contract and transferred lots of its value to their possession are just as entitled to that wealth as the people who possessed it in the first place. There was no hacking and no thievery. The smart contract was executing exactly as it was written. I argue the only people playing in bad faith were the makers of ethereum and the DAO, who rolled back the blockchain and stole the funds back into their hands. Now this argument sounds silly, but I stand by it. Code is law is a horrible idea. But if you want to live in that world... all "bugs" are just as much of the "law" as the stuff that isn't a "bug".

telxoss 5y ago
Post like this are why I read this board. Going to think about this while I walk. That is a tough argument to counter.
DJBunnies 5y ago
No argument..bro. Still, last time they called it a bug and rolled back the chain.
diamond559 5y ago
The Ethereum core devs didn't unilaterally decide to roll back the blockchain, that's not how the governance system works. The majority of the community decided to return the funds, the dissenters left and formed Ethereum Classic. The community decides what is law, not the code or the devs.
- spookthesunset 5y ago
  Community == mob rule.
- jshen 5y ago
  Next they’ll learn why we have this thing called democracy and how it’s used to enact laws and oversee enforcement. Wait, what is crypto about again? I can’t figure it out.