Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
AlexGR
on 21/01/2016, 15:27:18 UTC
This is just too good not to repost...

https://www.reddit.com/r/Bitcoin/comments/41vhzz/im_jesse_powell_cofounder_ceo_at_kraken_ama/cz5wznz

So, closest I came to getting hacked:

My email account somehow got included in the Ashley Madison list. Seriously, no idea how that happened! I tell my girlfriend about it to preempt the rage. She says "I thought of a new BIP--Boyfriend Improvement Proposal" me: oh yeah? "yeah--it's called Segregated Penis. What do you think?" me: ... ... I better buy some more hashing power.


Thats good, but this is better:

Quote
If there were a sustained hard fork, we would support both coins. I think this is extremely unlikely to happen, however, as it would require > 75% of the miners to agree to it. The other 25% mining the old chain would be in a very weak state and would quickly switch rather than risk being attacked by the other guys.

That part aint very reassuring though:

"We'd have to see how it goes.. maybe we would give people the option to choose their chain, or automatically put them on to one or the other if no action is taken by a certain date."

To sum it up: In the possibility of a hard fork, pull your coins way ahead of time to be sure 100%, with no "we'll see", "maybe", "or", etc. Ahead of time is crucial in case anyone is running a fractional reserve scheme and you want to avoid getting cryptsied in the process with all possible obstacles being thrown your way. That's how bank runs work. First ones get money those late at the bank get nothing.