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Re: <nettime> Ethereum: DAO - "The Attacker"
Rob Myers on Tue, 26 Jul 2016 04:09:25 +0200 (CEST)


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Re: <nettime> Ethereum: DAO - "The Attacker"


On 23/07/16 02:41 AM, Jaromil wrote:

> - The REAL community of people behind Ethereum is now rejecting the
>   bail-out, probably marking in history the first time in which there
>   can be a bail-out rejection by grass-roots movements??
>   Ethereum Classic is announced https://ethereumclassic.github.io

"Classic" is a scam.

The hashing power has followed the fork, and even if you secure your
transactions on the "Classic" chain against replay attacks -

    https://github.com/ethereumclassic/README/issues/3

it's an obvious pump & dump.

What's interesting sociologically and politically about the fork isn't
that the losing side is a scam, it's that the event of the fork
represents both a loss of innocence and an affirmation.

The loss of innocence is around the idea, despite Bitcoin's early
rollback of transactions resulting from bugs in its protocol, that
cryptocurrency code cannot be changed to produce a different consensus
on the state of the world as seen from the blockchain. Of course it can,
you just change the code that everyone uses to create that consensus.
For varying lengths of strings of zeros required to find "just".

The affirmation is that cryptocurrency is about consensus, and that code
is law. Consensus at the human level, to be sure. And the code may be
changed. But this meta consensus always determined the consensus that
results from blockchain mining. This is now a problem for cryptocurrency
rather than a mystery...

- Rob.

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