are you think there is a possibility MT GOX version 2?

tommygunyeah

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Quote from: Franciem on November 05, 2015, 11:21:30 AM

D-DOS attack everywhere

http://cointelegraph.com/news/115562/biggest-bitcoin-exchange-okcoin-suffers-cyber-attack-price-plummets
http://cointelegraph.com/news/115561/kraken-ddos-attack-leaves-traders-unable-to-sell-at-500-peak

are you think there is possiblity MT gox version 2 ?

DDoS attacks do not necessarily have an impact over security of the exchange, all it does is force it to stop their services.

onemd

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Quote from: NorrisK on January 20, 2016, 12:11:20 PM

Quote from: onemd on January 20, 2016, 12:03:26 PM

Cryptsy is Mt Gox version 2.

Cryptsy is not big enough to be Mt Gox version 2. Exchanges like Bitstamp, btc-e, kraken, fenix and okcoin are the ones that will cause major shakedowns if the pull a gox.

Ofcourse cryptsy going down is quite huge, but it is "only" 13,000 bitcoin and 300,000 litecoin. That is completely different than a 300,000 bitcoin business going out.

Both Cryptsy and Mt Gox did not tell the customer that they were hacked and lost customer money. That is the similarity.

SuperCoinGuy

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But Cryptsy is using the same excuses like Mt.Gox right - getting hacked, delayed & cancelled withdrawals and so on.

NorrisK

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Quote from: onemd on January 20, 2016, 12:03:26 PM

Cryptsy is Mt Gox version 2.

Cryptsy is not big enough to be Mt Gox version 2. Exchanges like Bitstamp, btc-e, kraken, fenix and okcoin are the ones that will cause major shakedowns if the pull a gox.

Ofcourse cryptsy going down is quite huge, but it is "only" 13,000 bitcoin and 300,000 litecoin. That is completely different than a 300,000 bitcoin business going out.

onemd

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Cryptsy is Mt Gox version 2.

monsanto

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..like bright metal on a sullen ground.

Bitcoin transactions can't be reversed, so there's always a possibility of employees pulling an inside job. If that happens, bye bye bitcoins.

gentlemand

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I don't see how there can be something of the scale of Gox again. It was pretty much the entire bitcoin gateway for a long time. That can't happen again. Can notable exchanges fail and take coins and funds up in smoke? You bet. There are still plenty out there which are operating in something of a grey area with some pretty shocking procedures. It's up to the people using them to vote for trustworthiness by leaving them behind.

pereira4

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We are too ahead in the game to see another Mt Gox version happening, such an incident was so massive because basically the only way to trade Bitcoin in an exchange type of way was to deal with Mt Gox, because well, it was the only exchange in the world. Now the monopoly is over, we have tons of options, the money is well spread across a ton of exchanges.

designerusa

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i think cryptsy will be a second mt gox 2 incident someday in future .because, payments of cryptsy is not regular nowadays.

randy8777

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Quote from: EdenHazard on January 08, 2016, 04:07:14 PM

next mt gox very likely,there will be a volume 2 or 3 or so on, the longer the world looks bitcoin more profitable, many people use a variety of ways to get it, one of them by a hacker attack, so we're just waiting for the arrival time of the next mt gox. Grin

no one is waiting to see the second mtgox/exchange disaster. any exchange can turn into a second mtgox, but the chances for that to happen is very small when you just look at the largest and most trusted exchanges. smaller so called 'fly-by' exchanges can close their doors at any moment. there is simply not enough demand for them. at some point they just stop everything and the unlucky customers will lose their funds. but that is by far not a second mtgox.

DooMAD

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I can't see how we could ever have something on the same scale as that. Gox happened at a time where people literally kept every last satoshi on the exchange and treated it like a bank account. I'd like to think no one is crazy enough to be doing that anymore, although there's probably a few people that do.

Also, because people were so trusting, some of them were still depositing funds even after the warning flags started waving. I recall lambasting people to withdraw their funds if they got the chance, but instead, some plowed more money in because the price went down and they thought they'd get a bargain. The general atmosphere around here would be so different if something similar were to happen now. Far more people would take notice if they were warned that an exchange was in trouble.

EdenHazard

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next mt gox very likely,there will be a volume 2 or 3 or so on, the longer the world looks bitcoin more profitable, many people use a variety of ways to get it, one of them by a hacker attack, so we're just waiting for the arrival time of the next mt gox. Grin

onemd

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Quote from: Kakmakr on November 17, 2015, 12:41:05 AM

Times have changed since Mt Gox now, and in the USA some exchanges are highly regulated now. They also make insurance mandatory on some of these services to cover any losses occurred due to their services being hacked. We do not have any guarantee that this will not happen, but it sounds as if consumer protection was built in to reduce the losses for the users. ^hmmm^

I think the regulated exchanges will not be MT Gox 2. Most of the unregulated exchanges will be.

Kakmakr

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Times have changed since Mt Gox now, and in the USA some exchanges are highly regulated now. They also make insurance mandatory on some of these services to cover any losses occurred due to their services being hacked. We do not have any guarantee that this will not happen, but it sounds as if consumer protection was built in to reduce the losses for the users. ^hmmm^

USB-S

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Quote from: RKing on November 16, 2015, 10:22:11 PM

Quote from: doublemore on November 09, 2015, 03:27:46 PM

Quote from: Franciem on November 05, 2015, 11:21:30 AM

D-DOS attack everywhere

http://cointelegraph.com/news/115562/biggest-bitcoin-exchange-okcoin-suffers-cyber-attack-price-plummets
http://cointelegraph.com/news/115561/kraken-ddos-attack-leaves-traders-unable-to-sell-at-500-peak

are you think there is possiblity MT gox version 2 ?

People would have to be pretty stupid to do a mtgox 2 seeing as what has happened to MK. Nobody wants prison.

Most criminals want to commit crimes if they know they will be caught. They only do it in the hope that they will not be caught.

As for the case of Mark Karpeles, I think it was more of poor company management skills. He fucked up yet he still kept dancing like nothing was wrong. I surely think that other exchanges have learned from this, But I cannot guarantee, that this will not happen again. Since centralized institutions are the weakest link of bitcoin. If we'd move on to decentralized exchanges then this would not happen. However decentralized exchanges are still in quite early stages of development.

RKing

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Quote from: doublemore on November 09, 2015, 03:27:46 PM

Quote from: Franciem on November 05, 2015, 11:21:30 AM

D-DOS attack everywhere

http://cointelegraph.com/news/115562/biggest-bitcoin-exchange-okcoin-suffers-cyber-attack-price-plummets
http://cointelegraph.com/news/115561/kraken-ddos-attack-leaves-traders-unable-to-sell-at-500-peak

are you think there is possiblity MT gox version 2 ?

People would have to be pretty stupid to do a mtgox 2 seeing as what has happened to MK. Nobody wants prison.

Most criminals want to commit crimes if they know they will be caught. They only do it in the hope that they will not be caught.

doublemore

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Quote from: Franciem on November 05, 2015, 11:21:30 AM

D-DOS attack everywhere

http://cointelegraph.com/news/115562/biggest-bitcoin-exchange-okcoin-suffers-cyber-attack-price-plummets
http://cointelegraph.com/news/115561/kraken-ddos-attack-leaves-traders-unable-to-sell-at-500-peak

are you think there is possiblity MT gox version 2 ?

People would have to be pretty stupid to do a mtgox 2 seeing as what has happened to MK. Nobody wants prison.

Arcteryx

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Quote from: RKing on November 09, 2015, 11:54:18 AM

Quote from: Arcteryx on November 08, 2015, 04:17:36 PM

Quote from: onemd on November 08, 2015, 11:20:49 AM

It is risky to leave our money in the exchange. Will a regulated exchange protect our money and bitcoin in them?

I don't know. Try and put something into Gemini and let us know what happens in 6 months if your bitcoin is still there.

There is no need to put any money in Gemini just to test the possibility that it will lose your bitcoin. There are at least 3000 bitcoin there every day.

People are asking if exchanges are trustworthy or risky. Gemini seems to growing into being a big one according to that statistic you put into this discussion. The quote "To big to fail." come to mind? I told him to put some in and try them out. If you make some profit on their exchange then you have already answered your own question on if they are trustworthy or not.

RKing

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Quote from: Arcteryx on November 08, 2015, 04:17:36 PM

Quote from: onemd on November 08, 2015, 11:20:49 AM

It is risky to leave our money in the exchange. Will a regulated exchange protect our money and bitcoin in them?

I don't know. Try and put something into Gemini and let us know what happens in 6 months if your bitcoin is still there.

There is no need to put any money in Gemini just to test the possibility that it will lose your bitcoin. There are at least 3000 bitcoin there every day.

NorrisK

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I think some people want to see problems everywhere, even when there aren't any problems.

Faking volume not to have to pay top euro at peak.. I mean, the buyers must have sent to funds there one time or another.

Also, it is not like kraken is spending huge amounts on marketing or anything to cause massive cash drains.

Topic: are you think there is a possibility MT GOX version 2? (Read 3345 times)