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Ethereum - Creating a Transaction reversal system? Lead dev steps down, community weighs in on future of blockchain by followbtcnews

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· @followbtcnews ·
$43.48
Ethereum - Creating a Transaction reversal system? Lead dev steps down, community weighs in on future of blockchain
<center> 
https://cdn.wccftech.com/wp-content/uploads/2017/11/ethereum-eth-hack-740x510.jpg
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# Ethereum, the heated debate

Currently, ETH is in the spotlight for change. And, it's on many fronts. 

One they're currently trying to implement is a contraversial issue, 'loss recovery'
Yeah- the ETH team, is talking about helping users recover losses.
Including the over 650,000ETH that MyEtherWallet has lost.

This, is a hard call. How will they verify it was actually your wallet?
How will they replay that?
Can this be used to reverse transactions that are sent to others for legitamate transactions?

https://2.bp.blogspot.com/-WtZGKohtPds/UJuhbT8LtBI/AAAAAAAABEY/OnmbfJNVjEw/s400/confusion.jpg

I'm sorry, but isn't a core element of blockchain to not have to worry about people doing things like this?
I'm not saying it's not possible. I'm not saying it shouldn't be a thing.
I'm saying, I don't trust the ETH team to do it well.
Neither does one of their members.

Yoichi Hirai, a core ETH dev has recently stepped down from ETH citing legal concerns. 
>"Some EIP editors look nonchalant about legal consequences of this draft, but I have warned them, and I have no capacities to do anything more than warn them ... I resign from the post of an EIP editor."

He doesn't believe it aligns with the core Ethereum philosophy, then later wrote- adjusting his statement that 'I was able to ignore my interpretation of the ethereum philosophy but I cannot ignore the penal code.'

He's urged the public to get involved in the debate.

Vitalik even tweeted,
>"To those who thought that the DAO fork set an unbounded slippery slope and lasting precedent, I encourage you to see the reactions on this thread."

They KNOW this is crazy.. And this is exactly what most feared with the DAO fork. I have a feeling this could set ETC up for a slam dunk if they do not course correct in some fashion.

Charles Cooper with ETC wrote

>"If this process exists then ethereum can no longer be called a blockchain, it is just a central bank which happens to use miners to validate the majority of transactions."

Which, could very well become the precedent if unchecked.

This is a scary pivotal moment in blockchain, and I believe it's the PEOPLES duty to weigh in on this issue, how do you feel about this?  Let us know in the comments below.. 

Let's gather some voices of STEEM to weigh in on this HUGE event in blockchain history in the making.

Article on Yoichi Hirai stepping down from core ETH dev team:
https://www.coindesk.com/ethereum-developer-resigns-as-code-editor-citing-legal-concerns/?utm_content=buffer22cf7&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

ETH trying to implement fund recovery system
https://www.coindesk.com/high-stakes-ethereums-fight-lost-funds-explained/
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@bitcoinflood ·
$0.04
If this passes I am totally not supporting ETH ever again. This has to be the worst idea ever and goes back to where I always say. TAKE SOME F**** responsibility for your own actions people. With investment comes risked you should have understood those risks and if not well shit your own fault. People now a days feel like everything should be handed to them and when they YES THEY make the mistake everyone else should have to pay for it. Lately people have just infuriate me to a point where I just want to sell everything and live on 50 acres the F away from people lol
👍  
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@sergey69 ·
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@cloudspyder ·
Maybe they will going to call for another hard fork just to recovered those coins.
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@jareen61 ·
As a crypto user we should know this type of knowledge.  To be gather knowledge this type of post is enough for me.  Thank you for sharing this post with us.
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@lionsuit ·
Very interesting share.
Intense debate. 
At the moment, I am observing.
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@sharifulislamm ·
This is very good news of ETH .Now bitcoin is very waving but ETH is in good position.Thaks a lot for your sharing
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@tengkuaceh ·
Good job post 😊
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@themanwithnoname ·
All good questions. 
- Who will determine that a transaction was fraudulent? 
- How will they return the coins? 
- How will they separate legitimate transactions from illegitimate? 
- Will they have issues with double-spending?
- Will anyone else be able to hack the system or otherwise manipulate the ledger?
- If it's not a blockchain, where does it derive it's main value? Being a platform on which other apps can run?
👍  
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vote details (1)
@theprophet0 ·
Authenticity BOT!

 Great job! We found more similar posts, but your post is the 1st one posted.

 <a href="https://steewit.com/@grumpycat">GrumpyCat</a> can give you a downvote because of the copies! <a href="https://steewit.com/delegation/@erodedthoughts/defend-yourself-against-grumpycat" > Defend yourself!</a>
👍  ,
👎  
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vote details (3)
@tomo15 ·
Interesting post! Now your post is listed in trending! <a href="https://steewit.com/steemit/@hitmeasap/how-to-reach-the-trending-pages-posting-101" > Learn more about how to keep your post on trending page </a>
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@ttomasz0882 ·
I wait to start Proof of Stake on Ethereum ;)
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@turkishcrew · (edited)
Last week, the merger of big companies was news for ethereum. Now you have made this beautiful sharing. How is it going to be? @followbtcnews
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