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RE: A bit of a rant.

in #hive3 years ago

The 90-day lock-up is the kryptonite to exchanges. It just isn't feasible for them to try and attack the network. They could not afford a bank run, have to disable trading, and all negative press would bring them to their knees. Lucky for us, we have seen this in practice, and I believe CZ couldn't say "I'm so sorry" enough. I doubt we'll see it again; if we do, we have a 1month lock up and can freeze their funds. Check mate there unless they moved funds to many anon accounts, slowly powered up without anyone noticing, but now we are getting into sci-fi lvl reality.

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I'm not so worried about the exchanges willingly putting a noose on their necks, again, they lost that battle in the press.
I'm worried about 'ned', or anybody else with a grudge, still holding 'free' coins.

Even with a 30 day grace period, if a substantial amount of that hive is held by somebody that doesn't have the success of the hive in mind they could upset the apple cart pretty easily.

They can 'legitimately' cause havoc just voting that much hive power in the pool.
Presuming it is held in few enough hands.

It's not a pressing issue, but something to bear in mind in the contingency planning.
Presuming they came in low profile over an extended period, or spread it out enough to avoid suspicion, by voting that hive in concert they can run amok until the soft fork is put into place by the witnesses.
I don't think they would win, but they could excite us nonetheless.
Might even turn out to be a good thing.

I guess my question is about the readiness of a soft fork to quell this type of attack once recognized.
And, is somebody watching for this to be done quietly before coming out into the open as blatantly obvious?