I don't understand what you propose.
What would be the point of a decentralised exchange?
Topic: 65 million dollars stolen (and counting) from Bitfinex and so what? - page 2. (Read 955 times)
August 04, 2016, 08:54:38 AM
August 04, 2016, 08:53:17 AM
For more than a year I've been proposing to extend Bitcoin technology to include what is called a decentralized distributed exchange. During this year two major Bitcoin exchanges got hacked, namely, Cryptsy and Bitfinex (probably more). I don't know how much money people lost at Cryptsy, but is 65 million dollars not enough to finally come up with a solution that would exclude this single point of failure from the equation altogether? I could potentially delve into Bitcoin and come up with something like that myself, but I'm not sure that Bitcoin won't die (or get abandoned, if you please) in a few years, so the acquired knowledge would be mostly useless...
Do Bitcoin developers actually think along the same lines as myself?
First of all I am do not agree with you that bitcoin will die in few year, however I think there are some problems of hacking cannot be preveneted easily, specially because of nature of bitcoin they cannot be preveneted and also legal problems related to exchanges and their activities which ties to concept of unkwon ownership of bitcoin. I searched and found this link here:Do Bitcoin developers actually think along the same lines as myself?
http://bitcoin.stackexchange.com/questions/21513/how-would-a-decentralised-exchange-work
In fact, I didn't say that Bitcoin would die in a few years. My point is that I don't find it worthy of time and effort to get into the gory details of Bitcoin technology up to a point where I could fluently contribute (or just contribute, lol) changes to the protocol myself. Apart from developing a few trading bots for cryptocurrency exchanges (which I'm already done with for obvious reasons), I didn't get involved in this field of software development. So I'm concerned if Bitcoin core developers don't feel pretty much the same...
That is, don't feel particularly interested in further development and expansion of Bitcoin technology
August 04, 2016, 08:52:16 AM
Cryptsy was not hacked it was scam,bter was hacked but thay didnt keep btc in cold wallets,Bitfinex ,does all that 65 mln was in btc,hom much in btc stolen,i cant imagine thay not keep btc in cold wallets
August 04, 2016, 08:43:09 AM
Bit fines hacking wasn't the biggest in bitcoin history. I guess now after that bitcoin may seem risky for investors or those people who only start to open Bitcoin to themselves, newbies. But the problem is not in bitcoin, the problem is how to protect it from steal. Bitfinex's case sowed to everyone that it is dangerous to hold savings online. I plan to cash out my saving after bitcoin rise back to 700$.
August 04, 2016, 08:15:11 AM
For more than a year I've been proposing to extend Bitcoin technology to include what is called a decentralized distributed exchange. During this year two major Bitcoin exchanges got hacked, namely, Cryptsy and Bitfinex (probably more). I don't know how much money people lost at Cryptsy, but is 65 million dollars not enough to finally come up with a solution that would exclude this single point of failure from the equation altogether? I could potentially delve into Bitcoin and come up with something like that myself, but I'm not sure that Bitcoin won't die (or get abandoned, if you please) in a few years, so the acquired knowledge would be mostly useless...
Do Bitcoin developers actually think along the same lines as myself?
First of all I am do not agree with you that bitcoin will die in few year, however I think there are some problems of hacking cannot be preveneted easily, specially because of nature of bitcoin they cannot be preveneted and also legal problems related to exchanges and their activities which ties to concept of unkwon ownership of bitcoin. I searched and found this link here:Do Bitcoin developers actually think along the same lines as myself?
http://bitcoin.stackexchange.com/questions/21513/how-would-a-decentralised-exchange-work
August 04, 2016, 03:11:22 AM
For more than a year I've been proposing to extend Bitcoin technology to include what is called a decentralized distributed exchange. During this year two major Bitcoin exchanges got hacked, namely, Cryptsy and Bitfinex (probably more). I don't know how much money people lost at Cryptsy, but is 65 million dollars not enough to finally come up with a solution that would exclude this single point of failure from the equation altogether? I could potentially delve into Bitcoin and come up with something like that myself, but I'm not sure that Bitcoin won't die (or get abandoned, if you please) in a few years, so the acquired knowledge would be mostly useless...
Do Bitcoin developers actually think along the same lines as myself?
Do Bitcoin developers actually think along the same lines as myself?
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