Re: [ANN][XCP] Counterparty Protocol, Client and Coin (built on Bitcoin) - Official
Agree, security should be guaranteed by the community, not individual person/team. Like bitcoins, it becomes strong because of the power of the whole of the community no matter how MTGOX publish whatever useless announcement. MTGOX is dying but bitcoins are alive forever.
Counterparty community looks like big joke now. Few day ago we talk about 1500+ burners, few 15btc burner, few +6btc burners and lot of 1-2btc burners and still we cant find even 10 people who donate 10 coins
How this all can think we can run in future "bug bounty" program if we cant now donate few coins? We discuss couple of day ago how we have good situation vs mastercoin, ethereum and other same type coins and now we are giving they free time take full lead what we cant beat anymore? Instead you donate few coins you want own bags of shit later? You have 10x profit earlier, maybe now 5-10x. Are you waiting devs who have make really hard work so far and want continue this project donating all or what you are waiting? We must give strong message to outside of community and also for devs that we are here together and they make good work. We dont have time to make lottery and i believe there still not join anyone, if we want we can make together one big lottery where everyone win, if we now donate and get exchange back and new investors come in instead become joke and coin who everyone warning to join.
Yes this is decentralized coin but we need solve this problem still with centralized exchange
I hope everyone start now take part to this donations and we can solve and continue looking green candles in polo.. This may be because many feel this isn't the right course of action.
Just like many feel the auto or bank bailouts weren't the right course of action for the American economy.
I think this has less to do with people being stingy and more to do with not finding a solution that appeals to everyone.
Yes the XCP protocol had a bug, but the problem should have been confined to Poloniex servers and not allowed to leave the site.
I am in favor of increased trading fees.
Assuming a 100 BTC volume and a 2.5% fee that is 32.8 days until he can pay everyone back their BTC.
Keep in mind that is NOT including all the fees collected for other coins.
We can assume that they will make the BTC in half the time using fees collected from other currencies.
Poloniex is running a business, not a charity.
If a bank allowed its clients money to be stolen, would you then donate to that bank?
Obviously this is not such a black and white situation. But the example does go to show that Poloniex is still somewhat to blame.
In other news, I have just finished implementing a security feature that immediately freezes any currency with a discrepancy in the wallet balance vs. exchange balance. This would have prevented the dump from ever happening.
Asking the community to cover 100% of the losses with no responsibility on Poloniex part is unacceptable.