The Bitcoin Group #97 – DAO Hacked – Bitcoin Soars – CanadaCoin

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Tone Vays (
Gabriel D Vine (
Theo Goodman (
Emin Gün Sirer (
Ian DeMartino (
and Thomas Hunt (


Digital currency Ethereum is cratering amid claims of a $50 million hack

Bitcoin is being Bitcoin and spiking 30% this week and 200% this year

Bank of Canada Explores Bitcoin’s Technology

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28 comments on “The Bitcoin Group #97 – DAO Hacked – Bitcoin Soars – CanadaCoin

@Tone Vays
crypto is meant to be financial Anarchy, "Peer to peer decentralised financial systems are self regulated" – they are acts of anarchy, anyone who uses Bitcoin or an altcoin are anarchists most of them don't realise this .


Emin voice sounds as if it was processed with a masking filter.  Really odd.


To sum up more.. Yes, a lot of people are saying that a fork would mean centralization of the network, because it's being suggested by Vitalic.

This seems to be a strange undersatnding of decentralization. Just because a group of people look to an individual for wisdom and guidance does not mean that things have become centralized. Centralization was just a term invented to describe the current system that feeds itself by using threats of force against peaceful people in order to create a force funded monopoly over a given a market.

If the miners decide to create a fork, they will be doing so voluntarily. Vitalic does not have a gun to people's heads forcing them to take this action.

In a decentralized system there are still going to be people who know more than other people about how to solve a problem. That might even be a single individual. Decentralization depends on listening to other people's opinions. In a decentralized system you get to make the choice about whether to take their advice or not. Vitalic is not forcing the miners to just do this because he says so. He's asking them to do it because he thinks it's a good idea.

Even though ethereum is designed to have code that enacts transactions in the absence of human decision making, when there are problems with the code, people are still going to have to make decisions to deal with those problems.

There is no decentralized system that will eliminate the need for people to cooperate in handling problems. And that includes listening to credible experts opinions about what could be done.




From IT gurus I would expect better sound quality 🙂


(31:25) Tone Vays of course there's a valid reason for smart contracts to be decentralised. For all the risks that centralisation brings! If you have a 3rd party that's holding a contract and is responsible for executing the pay out on an insurance claim (or state being met/not-met) and this 3rd party fails then, even if your payout funds are protected by the manner in which they're reserved within the digital currency being used, it's probably good bye for your payout because it's being managed by a centralised organisation and won't be executed. I'm frankly astounded you're not perceiving this. The issue of interfacing oracles are also a risk but I think they're far less one than a centralised organisation responsible for executing a payment.


@Emin please get yourself some decent audio hardware!
'The halvening'… Is that a new word?


Is this the vindication of Tone Vays?

The DAO is dead, but ETH will survive, just as Bitcoin has seen through tough times. All this stuff is highly speculative and faddish. The ETH cultists finally got a bite of a reality sandwich, hopefully they'll learn from it.


Title should be "Dao hacked, Bitcoin drops $50 in 60 seconds – a picture of things to come?"
Hope everyone's got their trigger finger on the mouse ready for the great droppening. I also am invested in Bitcoin, but the halving model is nothing short of a pump and dump model most likely designed to gain attention and hype. The problem is I feel it's the wrong sort of attention as it's often seen as a ponzi scheme


Vitalik controls nothing. Just because he ask miners to do a fork doesn't mean they have to do it. Getting what you want out of a group voluntarily of people doesn't equal centralization.


Great point by Gabriel when he responds to Tone Vays question regarding investing in projects. You can hear his response starting at 34:00 min when tone Vays ask the question.


Ethereum = vitalik = scam
Dao = super scam
Bitcoin = super good
Litecoin = good

Dont trust eth or dao.
I lost more then 20.000$ on that shit.

Please dont trust there bullshit.. I did IT for 1 year now. And i have lost my Btc. The Idea is to take our Btc.

Dont trust ethereum n dao. Scammer!

Vitalik is the badest man on earth.
Vitalik is not good man to trust!!


why, i think for property registration it is usefull! charety, i think a lot of things… hahaha ofcourse dao is stupid because ether already is a kickstarter  u place your own progect and funding that u need for it creat rools on it and publish it on the mist… it;s like making a kickstarter on a kickstarter …  plus in dao u need mostpeople to agree on one progect instead of individuals being able personaly to invest in something they like… very very surprised crypto people were so silly to invest 200 000000 dollars in it… better invested that in defiting meat and deary industry… justt dumpd a ton of our little money….


fuck me in the face if this shit is gonna hard OR soft fork because of some assholes!! i;d sale all ether i got and never come back. thumbs up for the "hacker" good boy keep making money of winy fools.


what a dump talk on ETH…


where's a good place to find out if and when the ethereum fork will happen? Also how long will it take it take to know if it happened successfully?


Thomas, I'm Canadian & I clicked this link, & got this "To Read the Full Story Subscribe or Sign In". I'm not currently subbed & don't intend to so could you pls do the copy/paste for me in the reply?


Tone vays, someone you dont want to take home to your parents….needs to hard fork his haircut


The proff needs to sort it out


$3000 at the halvening is pretty aggressive Thomas. I'll finally have that harem I always dreamed of.


wish I could hear the prof.


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