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Cryptopia Delisting Eth


Hex
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Threads: 198, Posts: 403
#0

Cryptopia has decided to delist ETH as we no longer have faith in ETH to remain impartial and decentralised or to act in the best interests of all of its users.

The situation with DAO has absolutely nothing to do with ETH, and ETH has absolutely no business getting involved. ETH was not hacked. DAO implemented poorly constructed terms along with poorly written, tested and reviewed code.

What happened to DAO, according to DAO's terms is perfectly legitimate. Firstly:

The terms of The DAO Creation are set forth in the smart contract code existing on the Ethereum blockchain at 0xbb9bc244d798123fde783fcc1c72d3bb8c189413. Nothing in this explanation of terms or in any other document or communication may modify or add any additional obligations or guarantees beyond those set forth in The DAO’s code. Any and all explanatory terms or descriptions are merely offered for educational purposes and do not supercede or modify the express terms of The DAO’s code set forth on the blockchain; to the extent you believe there to be any conflict or discrepancy between the descriptions offered here and the functionality of The DAO’s code at 0xbb9bc244d798123fde783fcc1c72d3bb8c189413, The DAO’s code controls and sets forth all terms of The DAO Creation.

What this basically says is the DAO code as it is currently implemented is the law, anything enabled by the DAO code is perfectly legitimate behavior and usage.

Secondly:

The DAO concept is both experimental in nature and unproven. There is a risk that, as an open source project, any contributor to The DAO’s software could introduce weaknesses or bugs into the DAO software, causing the loss of DAO tokens or ETH in one or more or even all of the DAO Token Holder’s accounts.

The DAOs terms literally warned you of this exact scenario being a possibility.

The DAO software is itself based on an unproven platform: the Ethereum blockchain. There is a risk that, as an open source project, any contributor to the Ethereum blockchain could introduce weaknesses or bugs into the Ethereum software, causing the loss of DAO tokens or ETH in one or more or even all of the DAO Token Holder’s accounts.

The DAO's terms once again literally warning you of this exact scenario being a possibility.

The field of Digital Cryptography is very new and for this reason, there is a risk of unforeseen attack both in terms of the underlying cryptographic protocol that back the functioning of the DAO as well as 'game theory' related vectors which have not been documented to date. Both these vectors represent a risk that could lead the loss of DAO tokens or ETH in one or more or even all of the DAO Token Holder’s accounts.

Seriously does no one read these things and make educated decisions about what they are participating in? Cryptopia believe in immutable blockchain technology, we believe that ETH forking their network to save the failures of a 3rd party software developer operating independently that ETH had nothing to do with sets an incredibly dangerous precedent and will likely open the floodgates to rollbacks for any reason.

Cryptopia is delisting ETH with the intent to avoid participation in both the upcoming fork and the inevitable future forks. Please close all open orders and withdraw your ETH BEFORE the hardfork is implemented as we WILL NOT be upgrading to the new hardfork.

 

 

If you ETH is below the minimum withdrawal contact support with an address and support will manually process your ETH withdrawal.



Posted: 6/19/2016 12:55:33 AM Edited: 6/25/2016 1:48:13 AM
solarion
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#1

Good on you Hex! Hopefully more exchanges refuse to participate in this nonsense. Let's all do our part to keep the Too Big To Fail concept a fiat phenomenon by refusing to participate.    



Posted: 6/20/2016 3:36:56 AM
Ronin
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#2

The HACKER/EXPLOITER has some kind of asburger's syndrome.
You just can't go Lawful Evil and expect people to accept a contract that behaves badly.
The consensus by natural law will merely change the man made law in their favor.
If you want your exploit to be successful, you need consensus to do so.
It's like a 3-way with your girl and her best friend, it's not cheating if everyone involved knows about it.



Posted: 6/20/2016 4:29:37 PM
Hex
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#3

Is it consensus by natural law if ETH are literally bribing miners to side with them? No, I do not think that it is.

 

And this goes far beyond this isolated incident, I mentioned that this would open the floodgates to rolling back for any reason. Look at the blacklist they are implementing, it will allow them to do this again in the future whenever they want, for whatever they want. They might as well go full hog and add a blockchain editor.



Posted: 6/20/2016 9:14:34 PM Edited: 6/20/2016 9:16:44 PM
Ronin
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#4

It's really simple.   Don't defraud your investors.



Posted: 6/21/2016 12:06:58 AM
Hex
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#5

Neither ETH nor DAO defrauded investors... Do you even know what you're talking about?



Posted: 6/21/2016 1:33:54 AM
Ronin
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#6

It's a precedent but not a dangerous one.  You forget, Rollbacks are harder to do than you think.  You need consensus and even if you "bribe" miners it's still difficult to get people on the same page.  People with Asberger's syndrome have a tendency to misjudge the human elements of a cryptoeconomy.  A contract is not law.  It is however a mutal agreement between all parties involved where all parties benefit from such agreement.  If there is no benefit to any single one of the parties, then the agreement ends.  That child-DAO with all that stolen ETH broke the mutual beneficence of the contract. 

Suppose you used an ATM that was broken and by some fluke gave you more money that what existed in your account, doesn't mean you can keep it.  You will be compelled to return it by the bank investigtors.

This is the nature of people and natural law.  People do things in contracts because they benefit from the agreement.  A contract is not law.  Participants have a right to do what is in thier power when they come to a disagreement with a contract.  Naturally when you have strength of numbers applying thier rights against a few dissenters, the one with more rights gets the spoils.  The code is not immutable.  The code is not law.  The code will change when enough people disagree with the code. 



Posted: 6/21/2016 5:37:32 AM
Hex
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Threads: 198, Posts: 403
#7

You're makign incredibly flawed comparisons. If a bank gets robbed in New Zealand, the Reserve Bank does not invalidate the stolen money, by blacklisting the serial numbers on the notes and then creating new replacement money, and neither should ETH.

 

But forget the DAO, forget the ETH that has gone missing whether you think it was stolen or not, forget the contract whether you think it was flawed or not, forget all of that, that's not the point, that's not the issue here.

 

The blockchain is no longer immutable, and therefore can no longer bet trusted. if I make a contract, they at a whim can change it, I cannot trust the contract to run as I designed it. What's to stop them black listing addresses? IPs? Political Parties? Entire countries?

 

The wants of the few are being demonstrated to outweigh the needs of the many. If my computer gets hacked and I lose 20 ETH why don't I get a rollback? How big is too big to fail?



Posted: 6/21/2016 5:46:14 AM
blip
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#8

 

So let me get this straight. Cryptopia is stealing my Ethereum now because somebody stole some eth from someone else. He gives an interview here 

https://www.youtube.com/watch?v=_O5fdMFKEC0    where he says he might give it back.

This sets a scary prececent. What coin will you cancel and steal next?  

I have eth  0.01479100. Min withdrawal 0.02  

So can't sell, can't buy, can't withdraw and the withdrawal fee is 0.01 anyway.

I bought the coin on the 10th June when there was no warning, You turned off coin on the 19th although eth and the dao are being traded on every other market still.


I lost over NZ$12.00 but fortunately I live in NZ so there are plenty of overpaid govt employees who might like to look at a business model as glamorous as ecurrency trading.

My first few choices would be

http://www.consumerprotection.govt.nz/scams/report-a-scam

https://www.dia.govt.nz/diawebsite.nsf/wpg_URL/Services-Anti-Spam-Online-scams

 

Don't be Crooktopia



Posted: 6/24/2016 7:42:27 PM
Hex
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Threads: 198, Posts: 403
#9

So let me get this straight, rather than raise a support ticket explaining that the amount of ETH you have to withdraw is less that the minimum withdraw fee enforced by the _NETWORK_ so that we can manually process a withdraw for you and pay the _NETWORK_ transaction fee out of our own pockets for you, you decide you jump to clonclusions and accuse us of theft and make stupid threats like a big bad scary person on the internet?

 

Go raise a support ticket and we'll sort you out, but in the mean time feel free to go fuck yourself.



Posted: 6/24/2016 10:13:41 PM Edited: 6/24/2016 10:22:57 PM
sa_ddam213
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Threads: 18, Posts: 99
#10

 

So let me get this straight. Cryptopia is stealing my Ethereum now because somebody stole some eth from someone else. He gives an interview here 

https://www.youtube.com/watch?v=_O5fdMFKEC0    where he says he might give it back.

This sets a scary prececent. What coin will you cancel and steal next?  

I have eth  0.01479100. Min withdrawal 0.02  

So can't sell, can't buy, can't withdraw and the withdrawal fee is 0.01 anyway.

I bought the coin on the 10th June when there was no warning, You turned off coin on the 19th although eth and the dao are being traded on every other market still.


I lost over NZ$12.00 but fortunately I live in NZ so there are plenty of overpaid govt employees who might like to look at a business model as glamorous as ecurrency trading.

My first few choices would be

http://www.consumerprotection.govt.nz/scams/report-a-scam

https://www.dia.govt.nz/diawebsite.nsf/wpg_URL/Services-Anti-Spam-Online-scams

 

Don't be Crooktopia

blip: 6/24/2016 7:42:27 PM

 Hi,

 

0.01479100 ETH is 12 cents not $12

 

If you log a support ticket, I will send you you 12 cents and we will even pay the 10 cent network transaction fee for you.

 

 

Thanks



Posted: 6/25/2016 1:43:53 AM
blip
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#11

You're right. It is 30c.

Oh well I've fucked myself for less.



Posted: 6/25/2016 8:44:39 PM
tuppydog
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#12

Hi, I just opened an account today and you accepted a deposit of 20 eth.  Now I'm told that I cannot trade btc with it and cannot get it out of this exchange.  Can you send me my eth back??  Please help, my address is  0xD29BdFB00b2F6cc771091d286F52F5cAFABa5587

I tried to create a ticket, but it goes into an apache server error, this is not what I expected for picking an exchange on the first day.  Thanks for any help.



Posted: 7/19/2016 7:33:13 PM
ru55ian
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#13

That was a great move, however, now that ETC is there, when will it be added to Cryptopia?

 

 



Posted: 7/30/2016 3:27:54 PM
nur1labs
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#14

nice decision i prefer zec than ETH. i not wanna do force my VGA to mine stupid coin. ZEC can used between processor and VGA. but VGA not over hard. different eth make over workload. stupid who make ETH!



Posted: 6/8/2017 5:29:32 AM
hbk95
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#15

nice decision i prefer zec than ETH. i not wanna do force my VGA to mine stupid coin. ZEC can used between processor and VGA. but VGA not over hard. different eth make over workload. stupid who make ETH!

nur1labs: 6/8/2017 5:29:32 AM

 lol these posts are from 2016, 1 year ago and you are replying now.surprisedtongue-out

nice you wake up now tongue-outtongue-outlaughinglaughinglaughing



Posted: 6/9/2017 6:48:05 AM
Blurb
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#16

[...]

 

Better late than  never I suppose.....

 

 

Still, it is good to bump this thread occasionally, where else but in crypto can you

find someone threatening to file a complaint with the Consumer Protection Bureau

over 12 cents. This is just comic gold, you can't buy this kind of entertainment....

 



Posted: 6/9/2017 12:39:19 PM
blip
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#17

That 12c is worth $7.20 today and still rising. Anyway it was the principle I was concerned about of turning off a viable coin. 

All the other exchanges I use credited my account with an equal amount of etc to my eth when it forked and some have said they will do the same when bitcoin forks soon. What will Cryptopia do?



Posted: 6/11/2017 9:26:05 PM
Blurb
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#18

...credited my account with an equal amount of etc to my eth when it forked and some have said they will do the same when bitcoin forks soon.

What will Cryptopia do?

blip: 6/11/2017 9:26:05 PM

 

An interesting question, i know a few other exchanges have posted policy statments about this.

I have not seen much from Cryptopia on this

Perhaps this deserves a new thread with the question posed...

 



Posted: 6/12/2017 12:28:23 AM