Topic: 650,000 Bitcoins got lost from Blockchain ? - page 2. (Read 604 times)
Since Mt. Gox lost a lot of bitcoins in 2014, we have seen the frequent hacker theft of coins on these exchanges, so now I don't believe in the exchange, and all my coins are stored in my wallet.
If your bank was hacked, would you suddenly lose faith in fiat currency? Would you suddenly convert all your fiat currency into bitcoin? No, I highly doubt it. People need to stop blaming bitcoin, it isn't bitcoin that is vulnerable to hacking, it is the exchanges that don't properly secure their assets. Similarly bank heists used to be much more common until precautionary measures were taken. A few events like this will make bitcoin stronger, as security protocols around its storage are bolstered.
It is not easy to carry 10 kilos. How will thiefs/robbers carry and move with 1000 kilos of gold or cash ??
Who can really put their faith in the Bitcoins now this is happening. And not a word said about it anywhere. Things will have to change. Unless this is fake information. But no way of telling whether it is or it isn't/
Well you might be assuming it could be a fake story until you send some coin to unintended wallet. This is really why we should be careful with our dealings.
If those bitcoins would have been lost that would mean that we could find them somewhere. They were stolen. Smart guy who stole those bitcoins
If your bank was hacked, would you suddenly lose faith in fiat currency? Would you suddenly convert all your fiat currency into bitcoin? No, I highly doubt it. People need to stop blaming bitcoin, it isn't bitcoin that is vulnerable to hacking, it is the exchanges that don't properly secure their assets. Similarly bank heists used to be much more common until precautionary measures were taken. A few events like this will make bitcoin stronger, as security protocols around its storage are bolstered.
When Mt. Gox collapsed in 2014, some 650,000 bitcoins were lost. While it was a rather big sum four years ago, it is now worth $5.2 billion. Another big failure may result in a total loss of confidence in the cryptocurrency, resulting in an exodus to fiat money and commodities.
Last week, $500 million in NEM cryptocurrency were stolen, adding more concerns about the lack of security of investing in cryptocurrencies.
https://www.rt.com/business
650,000 Bitcoins got lost from Blockchain ??
The bad news is for bitcoin and the crypto market. Again I advise you not to believe too much on these rumors. They will affect your mood in investing in the altcoins.Last week, $500 million in NEM cryptocurrency were stolen, adding more concerns about the lack of security of investing in cryptocurrencies.
https://www.rt.com/business
650,000 Bitcoins got lost from Blockchain ??
Although that fact is true, that error rarely happens. And another cause is theft. After the incident, I think the staff had to work hard to create a better protection system. Always think positive if you want to get rich.
There is a difference between lost and stolen (it may be the same for the one who lost his Bitcoins but the impacton the market is not the same).
Lost Bitcoins will make BTTC pice rise because the circulating volume will be reduced while stolen Bitcoins will not affect the market because it will be used and sold by someone else.
Lost Bitcoins will make BTTC pice rise because the circulating volume will be reduced while stolen Bitcoins will not affect the market because it will be used and sold by someone else.
When Mt. Gox collapsed in 2014, some 650,000 bitcoins were lost. While it was a rather big sum four years ago, it is now worth $5.2 billion. Another big failure may result in a total loss of confidence in the cryptocurrency, resulting in an exodus to fiat money and commodities.
Last week, $500 million in NEM cryptocurrency were stolen, adding more concerns about the lack of security of investing in cryptocurrencies.
https://www.rt.com/business
650,000 Bitcoins got lost from Blockchain ??
First of all why do you bring this old article we all know what happened on Mt. Gox exchange if you know what really happened i suggest read it on coindesk not on RT and also you are wrong that 650k bitcoins lost on the blockchain they are still on circulation although it is still on possession of the hacker but that is not lost. The lost coins happens when someone forgots the password of bitcoin wallet or wallet.dat which not recoverable by any means. Last week, $500 million in NEM cryptocurrency were stolen, adding more concerns about the lack of security of investing in cryptocurrencies.
https://www.rt.com/business
650,000 Bitcoins got lost from Blockchain ??
They were not lost, they were stolen. About the stolen NEM tokens - it was the exchange fault, not the blockchain.
100% agree if the blockchain lacks the require tight security all coins with the same algos should have been hacked long ago this kind of news only happens once in a blue moon or rare, so it is better for us to look for a better exchange that guarantees security to their network, even banks get robbed.
Not to mention those who mined bitcoin at the very beginning and who lost everything!
They were not lost, they were stolen. About the stolen NEM tokens - it was the exchange fault, not the blockchain.
They did not call the POLICE
how can they lost bitcoins without giving private keys this is nt real and this is another fud article created by RT
Mt.Gox is exchanger, they dont need private key to stolen bitcoin from customers..so the scheme is like this, Mt.Gox owned private key>>costumer deposited to the address that owned by Mt.Gox>>customer want to exchange their bitcoin to fiat money via Mt.Gox, but unfortunely Mt.Gox dissapeared and steal customer assets... An exchange or whatever other service losing coins due to theft or data loss, is only the result of how incompetent or shady the service or exchange in question is. People are the ones messing up not Bitcoin, but that apparently isn't something the empty headed mainstream media sources understand. If you don't wish to be a victim of the aforementioned scenarios where coin loss occurs, then avoid making use of centralized services, it's that simple. If you allow whatever entity to 'take care' of your coins, you'll be operating completely at that entity's mercy. You're a slave just like how people are a slave of the banks controlling their wealth.
The RT.com article title is "3 doomsday scenarios for bitcoin". Read there..
Fortunately fiat currency is never stolen.
Do you even read and acknowlegde what people say? FORGET about the blockchain.
Did you read that post ??
I think blockchain talks about Secure transactions against hackers etc..
Do you even read and acknowlegde what people say? FORGET about the blockchain. An exchange or whatever other service losing coins due to theft or data loss, is only the result of how incompetent or shady the service or exchange in question is. People are the ones messing up not Bitcoin, but that apparently isn't something the empty headed mainstream media sources understand. If you don't wish to be a victim of the aforementioned scenarios where coin loss occurs, then avoid making use of centralized services, it's that simple. If you allow whatever entity to 'take care' of your coins, you'll be operating completely at that entity's mercy. You're a slave just like how people are a slave of the banks controlling their wealth.
Let us analyze the situation,who gave you the idea that bitcoin is lost from the blockchain,they were hacked in the first place and these happens when you take customers for granted and the mystery of Mt.Gox will always be a mystery as you will never know whether it was an inside job or not,most of their dealings were shady prior to the said hack,when it comes to coincheck hack,there are more doubts than answers,they did not put multi signature security which is again a fault from the exchange,in conclusion always store your coins in your own wallet where you own the private key and not in exchanges.
Bitcoin is all about blockchain. I think blockchain talks about Secure transactions against hackers etc..
Yes the Mt. Gox were not lost but stolen ad previous poster pointed out, if you look deep the web for tracking tools, you can see where they went, and are now. NEM was exchange fault too. There are of course many dust and forgotten about accounts and wallets, this is where the real loss is - I saw some time agon a transaction with 100 BTC as the fee, and 0.001 as the transaction - oops - the miners did well that day. It is scary to see how many BTC and ALTs are lost, never to be redeemed again.. It is also a great lesson to us all to hold.
So, we must be careful of securing our wallet and bitcoin if not we have lost them forever. . Don’t give your username or passwords for every site asking to it. Coz you do not know if they keep tracking with your account. If they will track you, they will be the one using it , and they will steal all the fruit of your hardship on bitcoin. So do not trust your account to anybody for they might hacked you and you can not open anymore your wallet .
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So, we must be careful of securing our wallet and bitcoin if not we have lost them forever. . Don’t give your username or passwords for every site asking to it. Coz you do not know if they keep tracking with your account. If they will track you, they will be the one using it , and they will steal all the fruit of your hardship on bitcoin. So do not trust your account to anybody for they might hacked you and you can not open anymore your wallet .
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When Mt. Gox collapsed in 2014, some 650,000 bitcoins were lost. While it was a rather big sum four years ago, it is now worth $5.2 billion. Another big failure may result in a total loss of confidence in the cryptocurrency, resulting in an exodus to fiat money and commodities.
Last week, $500 million in NEM cryptocurrency were stolen, adding more concerns about the lack of security of investing in cryptocurrencies.
650,000 Bitcoins got lost from Blockchain ??
Let us analyze the situation,who gave you the idea that bitcoin is lost from the blockchain,they were hacked in the first place and these happens when you take customers for granted and the mystery of Mt.Gox will always be a mystery as you will never know whether it was an inside job or not,most of their dealings were shady prior to the said hack,when it comes to coincheck hack,there are more doubts than answers,they did not put multi signature security which is again a fault from the exchange,in conclusion always store your coins in your own wallet where you own the private key and not in exchanges. Last week, $500 million in NEM cryptocurrency were stolen, adding more concerns about the lack of security of investing in cryptocurrencies.
650,000 Bitcoins got lost from Blockchain ??
Well they were not lost but they were stolen.
There is an estimation of 1.6 - 1.8 million Bitcoin that is truly lost forever because the wallet owner forgot about their wallet and deleted it or the hard drive that contains the wallet is damaged.
Forgotten or lost wallets will be a problem as long as people won't care about their bitcoins equal to their real life money. I know you can't put your hard dirve into a safe box (but a backup hard drive can be put into it). Also, people have to learn how to deal with bitcoin. Dealing with fiat money is really simple, you learn it from your parents, or from other people, but you can't learn to deal with bitcoin from the family and you don't learn it in the school. Those lost bitcoins were lost when the technology was really new and people didn't care about them much, because it had much less value. If the bitcoin price was $1,000 or more that time people would care about their bitcoins much more. There is an estimation of 1.6 - 1.8 million Bitcoin that is truly lost forever because the wallet owner forgot about their wallet and deleted it or the hard drive that contains the wallet is damaged.
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