I don’t get the bitcoiners dunking on this eth bybit hack and saying role back the chain or fund terrorism

What would these people say if the hack was stolen bitcoin instead? Like I get it, they’re trying to dunk on eth as a centralized risk and that the chain can be rolled back.

It perpetuates the narrative people already have that the technology is the problem and enables bad actors. Rather than the reality that the technology is a neutral tool in that it can be used for good and for bad in terms of currency/value exchange. If it were Bitcoin, people would say “see they’re using this for bad things devs do something!” And they can’t really, except for onchain analytics

Just like criminals and authoritarians have leveraged USD for horrific things, they’re going to leverage bitcoins and crypto too. Better police work is the way, not eliminating privacy or technology for everyone.

Reply to this note

Please Login to reply.

Discussion

I don’t think it’s about what it’s being used for (I haven’t seen anyone mention that), it’s about the fact that people have warned about a broad attack vector for a really long time when you create arbitrary complexity, and then a “smart” contract in a literal cold storage wallet got emptied. Thats about as bad as the situation gets and a perfect example that the many claimed “features” are in fact security concerns.

Also because ETH is centralized garbage and that’s what has happened before, they get a small cabal of “important ETH people” together and roll back the chain.

Ah your initial point makes sense! Thank you.

I’m worried the normies and skeptics will apply this line of thinking in increasing ways to bitcoin in terms of funding bad actors around the world and want to do something about BITCOIN, not the bad actors…

But that’s a tale as old as time I suppose

note1l7qj2ssny5dev40ewwt09wfkdemgcnqmm5784a6t0njkxfx98nzqx05duz

Not quite

note1l7qj2ssny5dev40ewwt09wfkdemgcnqmm5784a6t0njkxfx98nzqx05duz