Quote from: coiner5 on June 16, 2014, 06:56:28 PM

Quote from: kryptologist on June 16, 2014, 06:45:32 PM

Quote from: richiela on June 16, 2014, 06:39:03 PM

We will be shutting down the market due to the dev fork - the wallet will be open for anyone that wishes to withdraw on the current fork. Again we WILL not be taking the new wallet or fork. If you do not understand why, please read the posts above. There is no way for us to undo things if coins disappear. These were coins that have already been traded and there is no way to recoup the value gained/loss by them.

@kryptologist - that is a valid suggestion, but I want to re-iterate that we do not police coins. There is also no way for us to know if that value changes because the ANN is constantly changing which is why we rely on programmatic approaches like moneysupply. feel free to PM me to brainstorm about more automated things we can do though, i'm always looking for more ideas. I understand your concern but the damage was done way before the coin max limit was hit; the order books are not that deep. It would not have prevented this.

@stenull - I guarantee you if any coin destroys their marketcap and then wants to reactively roll back the blockchain, there isn't an exchange in the world that's going to follow that fork

I do sympathize with people that got scammed by this coin. We got scammed as well and have our associated costs but this is the unfortunate dark side of crypto currencies. We rely on the community as much as you guys rely on us to make crypto safer for everyone.

Thanks
Richie

Do you think it would work to set an internal max total supply variable and check that against the network to catch it early? If a coin developer wants to change total supply it has to be in the open, the exchanges must know about it first? It would prevent ninjas from pulling such moves and I don't see the downside of it.

Ok, one more post. The point richiela made about the order book is an important one. Say the max number of coins in the ANN was 48,000,000. Typically only a few % of total coins are listed on exchanges. Even if Bittrex was the only exchange for that coin, they might have only 2,000,000 coins. So a scam dev could still inflate the moneysupply by 24x before such a precautionary check would notice.

A possible solution would be to alert when more than a certain % of expected total supply is listed. But that would have to be just an alert for someone to investigate, not something that would stop trading.

But I thought you could check the network.. not just what is listed on the exchange. Can't you detect how many coins are currently in circulation for any coin regardless of what's on the exchange? If there are more coins than Bittrex is aware about, I think they should suspend the market immediately.