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Re:Ethereum hard fork successful with mining majority by dnautics on Wednesday July 20, 2016 @10:58AM (#12129489)
Disclaimer: I don't really have much of a stake in ethereum, although I made some money off of it during the craziness last month (I cashed out when early warnings about the DAO hit hn, and bough back in when it was at the bottom, and cashed out again)

> I'm not sure how anyone could have any confidence in this system after that.

I think the situation is the opposite. After the DAO there were broad calls criticising the lack of leadership, criticism about decentralized/consensus decisionmaking, and comparisons with the broader economy and how the Fed can orchestrate a bailout (and why that's better - in the eyes of the critics). In a way, through consensus with this hard fork the Ethereum stakeholders squared the circle - orchestrating a bailout with majority assent (and if anyone didn't like it they were free to leave). I'm not going to pass judgement on whether or not that is a good precedent to set (or whether a turing complete blockchain - or the EVM implementation in particular - is a good idea in the long-term), but if anything the decisiveness of action should give more confidence in the short-term.

Re:Ethereum hard fork successful with mining majority by zenogais on Wednesday July 20, 2016 @11:30AM (#12129781)
So the interesting thing here is the "majority assent" phrase. All the polls I saw included < 15% of Ethereum stakeholders / hashing power. Some included < 5%, but were taking by many (who already had a chosen outcome in mind) as definitive proof of community preference.

Really this shows that a small group of people plus a core team already leaning in one direction are probably enough to fork the network.

Re:Ethereum hard fork successful with mining majority by DennisP on Wednesday July 20, 2016 @05:03PM (#12132495)
Once we passed the fork block, we had a vote by 100% of the mining power.

The ether vote had the percentages you mentioned, but all elections are decided by the people who show up. Generally we consider elections fair if everyone has the opportunity to vote; whether they actually do is up to them.

Re:Ethereum hard fork successful with mining majority by dnautics on Wednesday July 20, 2016 @11:35AM (#12129828)
that's fine. Those figures just say that many people are ok with whatever. Ultimately: If you don't like it, then you can leave. And if you aren't paying attention, then, well, you obviously don't care enough about that asset.
Re:Ethereum hard fork successful with mining majority by zenogais on Wednesday July 20, 2016 @02:41PM (#12131418)
There we go, just wanted you to backpeddle on this "majority" thing.
Re:Ethereum hard fork successful with mining majority by PeterisP on Wednesday July 20, 2016 @04:11PM (#12132084)
As the parent poster said, there was a majority consent. Much more than 50% considered that this was okay, they also "joined the fork", so the things that these <15% did were done with majority not objecting.

And also it's quite plausible that if the same number of people, the same people would implement a technically identical hard fork with the same process but with a different "socioeconomic" result and justification, then they wouldn't have gotten the same majority consent that they did in this case.

Re:Ethereum hard fork successful with mining majority by 3s933x7dpsh on Wednesday July 20, 2016 @04:09PM (#12132061)
> Disclaimer: I don't really have much of a stake in ethereum, although I made some money off of it during the craziness last month (I cashed out when early warnings about the DAO hit hn, and bough back in when it was at the bottom, and cashed out again)

Ah, the old disclaimerbrag. Other classics:

> Disclaimer: I own Apple stock, in fact I bought thousands of shares in 2002.

> Disclaimer: I'm not a lawyer, but I am a doctor.

> Disclaimer: I'm a member of the Democratic party, in fact I was a guest at Hillary's daughter's wedding.

Re:Ethereum hard fork successful with mining majority by runeks on Wednesday July 20, 2016 @02:12PM (#12131180)

    > After the DAO there were broad calls criticising the lack of leadership,
    > criticism about decentralized/consensus decisionmaking, and comparisons 
    > with the broader economy and how the Fed can orchestrate a bailout (and 
    > why that's better - in the eyes of the critics).
This explanation would be acceptable if the motivating factor behind the hardfork were enabling bail-outs, rather than the loss of $60 million.

(Angry customer calls up used car salesman)

Customer: The car alarm you promised would work doesn't work. I'm afraid someone will steal my car.

Car salesman: I'm awfully sorry about that.

Customer: Also, the engine broke. I can't start the car anymore!

Car salesman: Great! So I assume the missing car alarm isn't a problem anymore then?

Re:Ethereum hard fork successful with mining majority by ittekimasu on Wednesday July 20, 2016 @03:48PM (#12131908)
Aren't bailout in fiat systems fundamentally different ? I mean central banks create money and then lend them out to cover losses; this is distinct from ETH where stolen coins were returned.

More like the financial fraud police; less like the fed ?