Ben Mahala

Obsessive thinker. Blog is I hate all the labels people always put here to define themselves in single words.

[Ben Mahala @BenDMahala]

@sonyasupposedly Yeah, I think what he's doing is a bad idea, see: (from https://t.co/s4hRx9tMY5)

[Ben Mahala @BenDMahala]

@QiaochuYuan Have you not read https://t.co/XWRkqp6tfJ That pretty much covers it.

[Ben Mahala @BenDMahala]

@CasPiancey 7 years ago 😖

[Ben Mahala @BenDMahala]

@functi0nZer0 Not sure if you already know, but the Long War 2 / Long War of the Chosen Mods are really good, always felt like a straight up upgrade over the base game.

[Ben Mahala @BenDMahala]

@AliceFromQueens I have a conspiracy theory that this was (mostly) an inside job and that the oil stuff was one of the Venezuelan asks (because they want the US to repair their infra) and the US ask was about Chinese/Russian drone tech in the hands of 'nonstate' actors

[Thorne 🌸 @ExistentialEnso]

Looking for a job!

🕸️ extremely experienced in TypeScript/React/Node
⛓️ seasoned Solidity smart contract dev
🔥 former CTO of a YC startup
📊 fluent in SQL, also great at Mongo
💪🏻 actively coding since an 8 y/o in the 90s

[Causevest @TheCauseNetwork]

The Causevest Bounty is now live till October and it will expand across multiple platforms https://t.co/Byh8BG6y5g

[Ben Mahala @BenDMahala]

@angela_walch Grasping reality directly is rather uncomfortable but it is the only way to handle it without resorting to some kind of delusion.

[Ben Mahala @BenDMahala]

Given these facts, I don't think a fork is going to happen.

If these facts were different (eg, if they had used a timelock like TheDAO) that would be different. Maybe a fork could cleanly solve the problem (I would support it if it could).

But that horse has sailed it seems.

[Ben Mahala @BenDMahala]

Now if you just wanted to accomplish 1) (Remuneration / Bailout) that could be technically simple, just fork, print ETH and give it to Bybit

I don't think this is wise, politically speaking, but it is technically possible.

[Ben Mahala @BenDMahala]

This would socialize the Bybit losses among all ETH holders.

I don't think this would be popular though, especially if Bybit is able to recover from the hack by themselves (which they seem to be able too? This is one of those things were time will tell).

[Ben Mahala @BenDMahala]

I don't know why people misunderstand The DAO hack so much: the key takeaway isn't "hardfork good" it's "timelock good"

But timelocks are still massively underused in the ecosystem today, so there's no real opportunity to fork to solve the problem now. It is what it is.

[Ben Mahala @BenDMahala]

People try and use The DAO hack as an example miss the key point The DAO had - the timelock.

The hacked funds in The DAO couldn't (really) move and so it was technically easy to recover them with minimal collateral damage

[Ben Mahala @BenDMahala]

And that's ignoring the second+ order effects that would devastate or even outright kill the ecosystem.

I don't think that would be popular among holders, even those who would be directly remunerated.

[Ben Mahala @BenDMahala]

The funds have moved too much to prevent Laz from profiting without massive collateral damage (greater losses then the hack itself) .

A "full rollback" would probably cause 10s of billions of effective damage at this point and they would get to keep anything they bridged.

[Ben Mahala @BenDMahala]

A Bybit fork would have two main goals:

1) To remunerate ("bailout" if you want to be less kind) Bybit / Bybit users

2) To prevent Laz/NK from profiting from the theft.

Given the technical state of the ETH system, I would argue that, at this point, 2 is effectively impossible.

[Ben Mahala @BenDMahala]

*bursts out of the earth in front of a gravestone*

RRRARRG I must FeeD on Brai... *cough cough*

So there is discourse about a fork on ETH to try and solve the problem of the Bybit hack and I feel compelled to contribute, against my better judgement.

[Ben Mahala @BenDMahala]

@phildaian This is insane and I love it. I am pessimistic of it actually coming to anything but appreciate you trying regardless.

[Ben Mahala @BenDMahala]

@koeppelmann No idea, not actually involved io n ETH dev, just know the theory.