1,885 karma · joined June 5, 2012
In the Bitfinex case essentially all bitcoins were in hot storage. Why they switched to that system I don't know. Perhaps they were convinced by BitGo marketing brochures that this would be more secure. Or, they were forced to do that by regulators.
In the general (not Bitfinex) case, you need hot storage in order to process withdrawals quickly. No one is going to use a cryptocurrency exchange which makes you wait 24h to withdraw, this is unacceptable in such dynamic markets.
Passive users by definition agree to follow the active users' decision.
- ETH holders voted on http://carbonvote.com/ with 87% pro-fork. 5.5% of the total ETH supply participated in the vote.
- ETH miners clearly voted pro-fork on the major pools, e.g. https://dwarfpool.com/eth/voting. In nearly all cases > 80% of the hash power was pro-fork.
- ETH markets reacted positively when there were good pro-fork news, and negatively when there were bad news (such as the DDoS vulnerability in the proposed soft fork). Therefore the market sees more value in the post-HF Ethereum.
Yes, there is a vocal group opposing the fork, but it mostly consists of persons wishing to see Ethereum fail.
In this case the sentiment among actual ETH holders is ~ 85% in favor of the hard fork. Check http://carbonvote.com/ (it's not a binding vote, just an indication showing which way the wind blows).
[1] http://www.mediapool.bg/mihail-konstantinov-podade-ostavka-k...
- A ridiculous example of "electronic voting" is presented - voters download ballot papers, fill them, then email or fax them back. This obviously sucks in multiple ways. Therefore, all kinds of "electronic voting" must be broken.
- Physical voting is very old, therefore it must have become solid and tamper-proof by now. This is not true. Physical voting is vulnerable to all kinds of manipulations, and they do happen on large scales.
The wrong claims continue forward. Just because that dude sounds smart doesn't mean his clip has any value.
And even if such a verification is impossible, I don't think we should reject incremental improvements just because the result is not yet perfect.