Secure your ETH ASAP !
Secure your ETH ASAP !
And here I am again at it : talking about ETC ( Ethereum Classsic )
Why ?
Because I want everybody to know what they are in for.
I have explained some things in my previous post :
https://steemit.com/cryptocurrency/@cryptoninja/the-ethereum-classic-madness
What I have NOT said is the WHY - "All users who had an Ethereum balance at the moment of the fork now have a matching balance of ETC " - is a risk... for everyone making transactions on the ETC blockchain.
In crypto tehnology "spending" any amount of your coins requires a key that is kept secret ... until you send that coin to a new wallet , effectively spending it.
OK , all ETH coins you have not moved/spent since the fork are at risk until you send it if you spend any ETC that belonged to the same address on both Blockchains - ETC and ETH
Basically - If you have sent 1 ETC from a wallet containing both ETH and ETC , from the Hard Fork , the key you have used to sign that transaction can theoretically be reused to send all the remaining ETH from your wallet by anybody.
What you need to do ASAP if you are in the ETC ( Ethereum Classic ) game - resend ALL your ETH ( Ethereum Hard Forked ) to yourself to effectively create a new key that is not also on the ETC chain.
I hope I was of some help !
Thanks for this update. A lot of people are unaware that ETC has risks. The ETC ecosystem do not plan on addressing these risks, so we'll see what happens. It only hurts themselves and will hinder adoption of ETC as their users lose ETH they thought they had to replay attacks and other sophisticated technical exploits that haven't been seen in the wild before. Being on the lesser of two very similar chains has unprecedented security issues. Maybe they won't amount to much but it's also the chain that the attacker who exploited TheDAO's security issue resides on...
Exactly , well ... greed has always a price
This ETC madness will claim it's price.
I knew something was going to happen and screw up that blockchain. SMH, its market cap has been cray the last 48 hours.
Srsly this volatility has been a crazy ride :P
Sure , it has been something , considering all ETC have just been given out like that ... created from thin air - well , just recycled from the non forked blockchain
What would you suggest to my friends who have their 30 ETH in DAO since its day 1 of theDAO crowdsale and haven't moved them since.
Update to latest mist and withdraw them?
The DAO has a 1Eth to 100Dao parity now ( at least I see that on Poloniex ).
I , personally , have reconverted all my DAO to ETH and left this "game" long ago.
I do not really know how mist works , but I would recommend swapping back to ETH if it's a big amount.
I hope you didn't leave the game completely with Ethereum, as I see all this happening now just manipulation of other forces trying to do what is happening around the world all the time. Sabotage and trying to bring the small guys down. But don't worry, in every new era come the Davids and pass by Goliath. :)
No , I am still in the ETH game ... me and my small mining farm :)
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