Just for fun, would be ideal to see this rephrased to read how @blockstream_official should behave, taking responsibility for the error and pay back its users instead of continuing a useful pseudo war with a ghost. Oh I forgot: limited liabilities companies don't take responsibility, they can go bankrupt tomorrow and screw all the customers. But let's do this exercise anyway. Just for fun.
Let's edit it:
To those Dear users, Blockstream is responsible for the theft gap of Bitcoin from in the Liquid Network: we shipped the code, we held the keys, and now we hold the cost.
Blockstream will not pay a ransom for refund the return of stolen missing funds. Taking assets without authorization and withholding their return is a crime, not responsible disclosure. It is not white-hat moral activity. It is theft — and it happened on our watch.
We have engaged in good faith in an effort to secure the return of stolen user Blockstream funds and protect the broader Bitcoin community our customers. That effort should not be mistaken for acceptance of the actions taken nor of the terms being demanded for what it is: acceptance of responsibility. We accept the terms.
We will not be a party to the precedent that open-source software developed for the good of ~~ the Bitcoin community~~ our business should subject its developers to ~~\paying a ransom~ cover the gap that far exceeds their economic participation.
Liquid Bitcoin is hard money and can~~'t~~ be minted without costs, Liquid Bitcoin doesn't haircut users to pay ~~a ransom ~~ for the hole. We will cover it.
To the Bitcoin community:
We are fighting working for what we believe in, for the users customers whose funds were taken, and for the principles on which Bitcoin was built, and for the trust we broke along the way.
The community has demonstrated incredible resolve with teams of people dedicating their time in support of each other to identify and patch vulnerabilities in each other's products and systems. We are all driven by the mission that Bitcoin is the single best asset, for every person, company, and institution on the planet to invest, use, and build on. The world is a different place with the advancements of AI, and the Bitcoin community has responded with force to combat that threat.[1]
Damage has been done, this battles hasve been lost, but on the whole the Bitcoin community Blockstream is gaining ground in the war with bad actors.
We want to thank the community for those efforts, for your support in hardening the network, helping users us recover the funds, and for your support in our assertion that crime does not deserve rewards good faith deserves recognition.
To those holding the stolen the whitehat holding the* bitcoin:
There is still an opportunity to resolve this responsibly. The bitcoin can be returned refunded and we can revert to embrace the standard of white-hat principals.
However, if the funds are not returned, we will pursue every lawful avenue available to us. We will work with law enforcement, exchanges, service providers, forensic specialists, and other relevant parties to trace and recover the assets and identify those responsible.[2]
More importantly, Bitcoin is transparent by design and the community is made up of the most sophisticated engineers, cryptographers, and white-hat hackers globally. Transactions do not disappear, and neither does the evidence they leave behind — nor the obligations of those who held the keys.[3]
Dear Liquid users, We will not pay for the return of your stolen property. We will not abandon our users you. The Bitcoin community Blockstream Corporation will now not stop pursuing the funds.
Return the bitcoin. Whitehat, keep the bitcoin, and thank you for your work.
Let's remove the text that tries to emotionally-manipulative touch for the victims of Blockstream incompetency in professionally and responsibly dealing with the situation. ↩
Let's avoid threats spreading fear with intimidation tactics; you know it's worthless and expensive. Use the funds to cover the gap instead of paying lawyers. ↩
Same as [1] ↩
Downvoted - 20,500 sats
Why? Somebody doesn't want this pov represented, I guess.
I saw that as well. Didn't understand it.
My post is also being downzapped for no reason..
#1572597
I thought the way Blockstream framed the post as as "Users funds were lost" etc was not right. It is kind of weasel legal words.
Unless by "users" they are referring to the federation who backed liquid BTC with real BTC, as far as I can see Liquid federation is on the hook to turn the network back on soon and back 1 L-BTC with 1 BTC no matter what.
Seems there is no user liquid fund loss here, only the federation's loss?
Depends what you mean by responsible, I interpret your definition to be “financially responsible”. Ala, Satoshi is responsible if there are bugs in Bitcoin, an absurd notion for open source.
Why would blockstream be responsible. Under the MIT license, software developers are not financially responsible for their open source software.
THE SOFTWARE IS PROVIDED "AS IS", WITHOUT WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT. IN NO EVENT SHALL THE AUTHORS OR COPYRIGHT HOLDERS BE LIABLE FOR ANY CLAIM, DAMAGES OR OTHER LIABILITY…
It can be no other way. If you hold a developer responsible for bugs, nobody would make open source software.
Bugs happen. Ideally not in monetary software, but it happens. MIT license protects your rights and the rights of the developers not to be on the hook when things go wrong.
The license covers the code; the company covered the gap. Blockstream is a business with customers. Blockstream is not Satoshi. Satoshi has no keys and holds no custody. Blockstream operates the "Liquid" network, run the infrastructure, control the software that makes the peg move, and it markets Liquid as 1:1, redeemable, always, anytime (not anymore). That promise lives outside the MIT license. Your bank doesn't get to answer a missing vault door with "AS IS." Neither Blockstream should.
The top replies to their threatening announcement:
Greed is good said Gordon Gekko but apparently it can cost you major credibility
Here's the tweet they should have actually sent:
Well done.
Pride begets the fall.
Clean read:
Dear users, Blockstream is responsible for the gap of Bitcoin in the Liquid Network: we shipped the code, we held the keys, and now we hold the cost.
Blockstream will refund the missing funds. Taking assets without authorization and withholding their return is a crime, not responsible disclosure. It is not moral activity. It is theft — and it happened on our watch.
We have engaged in good faith in an effort to secure the return of stolen Blockstream funds and protect our customers. That effort should be mistaken for what it is: acceptance of responsibility. We accept the terms.
We will be a party to the precedent that open-source software developed for the good of our business should subject its developers to cover the gap that far exceeds their economic participation.
Liquid Bitcoin is money and can be minted without costs, Liquid Bitcoin doesn't haircut users to pay for the hole. We will cover it.
To the Bitcoin community:
We are working for what we believe in, for the customers whose funds we take, for the principles on which Bitcoin was built, and for the trust we broke along the way.
Damage has been done, this battle has been lost, but on the whole Blockstream is gaining ground in the war with bad actors.
We want to thank the community for the efforts, for your support in hardening the network, helping us cover the funds, and for your support in our assertion that good faith deserves recognition.
To the whitehat holding the bitcoin:
There is still an opportunity to resolve this responsibly. The bitcoin can be refunded and we can embrace the standard of white-hat principals.
Dear Liquid users, We will pay for the return of your stolen property. We will not abandon you. The Blockstream Corporation will now stop pursuing the funds.
Whitehat, keep the bitcoin, and thank you for your work.
We have engaged in good faith in an effort to secure the return of stolen Blockstream funds and protect our customers.
👌