/biz/ - Business & Finance

Fuck that

It's done. Pausing a fucking contract shows how bullshit the whole thing is. I guess Daimler and BMW and the United Nations don't mind having their "data marketplaces" frozen for a bit, to prop up the token price temporarily?

What a joke of a project.

its not organic they have like 4 threads open fudding

>>22859198
It is the same few people that create the fud threads every other time, this time they just have something new they can say

>>22859050
>good
The token is no longer liquid, fungible, or permissionless.

>>22859224
they must be excited with this new tool

>>22859275
They didn't really have anything before, just baseless predictions that weren't coming true

>>22859050
once they unpause it they can still dump
dummy

The hacker has now started dumping Synthetix. Lets see if their contract gets paused.

https://etherscan.io/address/0xaea0926fcb9a83745e9710d6e8ce26c1da7a0ab1#tokentxns

why didn't you niggers do the smart thing and just freeze the wallet

like VIDT did

>>22859369
Only half a million worth of Sythetix was stolen and the mc is 5x the size of Ocean

>>22859423
And?

>>22859435
And the effect from dumping will be minuscule compared to dumping millions of dollars worth of ocean, which has a much smaller mc

It’s not fud. Stop being emotionally attached to your coins and have a reality check. Millions will get dumped and it’s now been shown it was never decentralised. They lied.

>>22859261
Sometimes stuff like this has to be done, just imagine what would have happened if they let the hackers get away with it.

>>22859369
they dont have a pause function in the smart contract

>>22859461
Are you implying that Sythetix won’t stop the contract because the value of tokens is of a lesser amount?

>>22859544
Probably not. I doubt ocean would have either if they had only stolen 100k Ocean

>>22859617
So the question is how much can be hacked before it’s deemed acceptable to stop a smart contract? What is the price of decentralization?

>>22859710
bro you cant stop any smart contact
it has to be written into it
ocean wrote a pause function into the code

>>22859366
Not really, they can lock the hackers address and it basically gets stuck there

>>22859710
I don't care if Ocean is decentralized. I don't use it as a currency, so it doesn't matter to me. If I wan't to use a crypto as a currency, then I will worry about whether it is decentralized.

>>22859742
Oh i see, I missed your earlier comment. So Ocean implemented an escape hatch Lol.

>>22859766
no you cant...
exchanges can blacklist it but not a dex
they can just keep swapping to a new address

>>22859813
Don't they still know where it was coming from so that they can link it to the original hacker's address?

Just when we were starting to come back we get all this fud keeping us down, that's really unlucky.

>>22860221
The good news is that if the hacker does manage to dump, anyone buying the dump will basically be getting free money, so the dip wouldn't last that long

>>22860312
I doubt they will dump, everything is pretty much frozen already.

>>22859920
not on a dex
an exchange like binance can monitor the address and add to the blacklist immediately

I bet Ocean does a new token swap though

>>22859050
shut the fuck up you fucking shill with your centralized shitcoin lmao

>>22860700
Don't care about the hack, I didn't sell when we dumped and I am not going to sell right now.

>>22860687
That's just speculation at this point, they didn't talk about a token swap in their announcement.

>>22859742
So now it doesn't work? The transactions are stopped?

>>22859050
yeah uhhh...no

>>22861614
https://etherscan.io/token/0x7AFeBBB46fDb47ed17b22ed075Cde2447694fB9e

contract owner needs to unpause it for it to work again

>>22861231
either that or take a $7m hit/ crash the token

>>22861614
Actually it does work, they can't keep it stopped forever, it must be just as a precautionary measure to avoid dumping

>>22861757
They need to man the fuck up and take the hit. It’s not their job to protect what everyone does with their coin. Every exchange has risks as we’ve seen in years past. What they’re doing now is fucking horrible. A hack is natural and healthy for the longevity of true price.

>>22861757
It's not even that much, why is there so much fud going around?

Ocean gotta protect those VC bags. Will they pause the contract when VCs decide to dump on you?

>>22862381
How much are you getting paid to post this baseless fud here?

Hard fork confirmed, guess that's a good way to deal with the problem

>>22863066
>Hard fork confirmed,

This just gets funnier and funnier.

Clearly all the complex data marketplace machinery that runs "on" ocean (whatever that means) hasn't been disturbed by pausing, and then forking, the contract?

V A P O R W A R E

>>22863066
It’s not their fucking problem. These idiot just nuked their stupid coin. Fuck this lol.

THIS JUST IN
https://twitter.com/oceanprotocol/status/1310254783824113665
They are forking.

>>22863546
So there is no swap? I can just keep holding my ocean?

>>22859050
Centralized garbage coin

>>22863902
Hard fork means the old token is useless
They'll send you your new OCEAN tokens soon

What will happen to my pooled eth ocean tokens? I'm trying to remove my lquidity from uniswap but it gets stuck on the confirm button...the transaction is already approved. What is causing this?

>>22864215
The contract is paused. Maybe the team will let you know if you can do anything, or maybe they are busy protecting VC bags.

>>22864279
What happens to those pooled tokens in the middle of a hard fork do they fork the pool? Lol is that even possible

I was thinkin about buying some of this.. now i'll probably wait and see if it goes lower.

>>22864304
Those tokens will be worth nothing. Hope they'll unpause the contract so you can pull the liquidity - they should...

>>22864335
I don't think it will go lower than 30 cents, I have a few hundred dollars saved for the occasion but most of my stack I have already bought.

>>22863962
So we just need to hold and we will receive the new token? The old one gets burned or what?

SNX denied the dump

>>22864876
30 seems to be strong support, I don't think we are going any lower

>>22859050
With a pause button in your smart contract your "decentralized" token is now a security, have fun.

>>22859050
i can still trade Ocean on Binance

>>22866025
the idea was to stop deposits, if you already had your ocean on binance then you can trade it.