Topic: Bitstamp is open - now with multisig (Read 4463 times)
Many site didn't accept to withdraw to multisig address and green address to . What the new in multiSig ?
looks like the volume went well back over finex in the last 24 hours, should imagine many people panicked and bought BTC to withdraw, expecting them to lose volume next few weeks.
i was watching the ticker during some of the high volume periods, and it looked a lot like huobi. no fee trades, then we start seeing hundreds bought and sold right at the spread within seconds/minutes of each other. and then the price hardly moves until other exchanges move. no fees = can't trust the volume.
if the exchange wanted to make it look like a high volume of trading was going on they could move funds around to new wallets they own anyway and nobody but them would know their not legitimate trades
(thats if they wanted to fake their trading volume )
looks like the volume went well back over finex in the last 24 hours, should imagine many people panicked and bought BTC to withdraw, expecting them to lose volume next few weeks.
i was watching the ticker during some of the high volume periods, and it looked a lot like huobi. no fee trades, then we start seeing hundreds bought and sold right at the spread within seconds/minutes of each other. and then the price hardly moves until other exchanges move. no fees = can't trust the volume.
looks like the volume went well back over finex in the last 24 hours, should imagine many people panicked and bought BTC to withdraw, expecting them to lose volume next few weeks.
I just wonder why the multi-sig wasn't being implemented in the first place and only after the hack took place. ...
The fact that multi-sig is being implemented as part of the re-start tells me that it was pretty much developed and ready to go. Seems plausible that this was the reality that caused someone to pull the trigger and take their payout while it was still relatively easy to do. Indeed, most of these 'hacks' seem to be oddly well timed. I'd guess that even the real hacks (if there even have been any real ones in bitcoinland amongst the staged events) leveraged exploits that had been in place and known to the attacker for a while.
and my withdrawal is taking ages... 
Their hot wallet is empty. They need to fill it up from their cold storage when they wake up.
Hot wallet: https://blockchain.info/address/36mwH1Jg3AMVsEQqVaDSe9YFBTGebaHR1A
Cold storage: https://blockchain.info/address/1JoktQJhCzuCQkt3GnQ8Xddcq4mUgNyXEa
They had around 35k$ daily from fees so I think, that they wont have a problem with refunding people, who lost coins.
And since everyone will never withdraw all their coins at once, no one will ever miss those BTC. Fractional reserve FTW!
They had around 35k$ daily from fees so I think, that they wont have a problem with refunding people, who lost coins.
not a word about 19k btc they've lost
are they going to refund em back somehow or we just supposed to forget about it?
Have you checked your account? Are you missing coins? are they going to refund em back somehow or we just supposed to forget about it?
and my withdrawal is taking ages...
I just wonder why the multi-sig wasn't being implemented in the first place and only after the hack took place. Also the 1btc tips at twitter seems to suggest that they are sending a message telling that the hack was simply nothing and they are fully recovered?
Bitstamp is open, now with multisig. Here's the interesting bit of a message from bitstamp's boss.
https://www.bitstamp.net/article/bitstamp-is-open-for-business-better-than-ever/
What’s new?
Our team has been working day and night to rebuild and restore security to the Bitstamp site so customers can resume transacting with us quickly, safely, and confidently. Bitstamp is now fully operational with a number of key improvements:
Multi-sig
* With the integration of BitGo multi-sig technology, Bitstamp is now the first and only major bitcoin exchange to incorporate the industry's best security practices available today.
Completely new hardware infrastructure
* The Bitstamp systems are running on 100% new hardware deployed from a completely secure backup of our code and data.
Amazon Web Services
* Bitstamp is now running on Amazon’s world-class AWS cloud infrastructure, architected to be one of the most secure and reliable cloud computing environments available.
Commission-free trading
* As a note of thanks to our loyal customers, all transactions conducted on Bitstamp through the end of the North American Bitcoin Conference -- January 17th (at 11:59pm UTC) -- will be commission-free.
We appreciate your patience and understanding during this disruption of services. Since 2011, we’ve worked hard to be one of the largest and most trusted bitcoin exchanges in the world. While this is a time of challenge for our company, we expect to emerge from this experience having set an even higher bar than before for trust and confidence in our services.
On a personal note, I’d like to thank the incredible teams at Bitstamp and at our lead investor Pantera Capital who have worked around-the-clock from multiple time zones in the last few days. I’m incredibly proud of the herculean work of this extended team, and grateful to the phenomenal show of support from customers, friends, and partners in the bitcoin community.
We look forward to serving you!
For additional information, please refer to our customer FAQ or contact our support team at [email protected].
Thank you,
Nejc Kodrič
CEO of Bitstamp
https://www.bitstamp.net/article/bitstamp-is-open-for-business-better-than-ever/
What’s new?
Our team has been working day and night to rebuild and restore security to the Bitstamp site so customers can resume transacting with us quickly, safely, and confidently. Bitstamp is now fully operational with a number of key improvements:
Multi-sig
* With the integration of BitGo multi-sig technology, Bitstamp is now the first and only major bitcoin exchange to incorporate the industry's best security practices available today.
Completely new hardware infrastructure
* The Bitstamp systems are running on 100% new hardware deployed from a completely secure backup of our code and data.
Amazon Web Services
* Bitstamp is now running on Amazon’s world-class AWS cloud infrastructure, architected to be one of the most secure and reliable cloud computing environments available.
Commission-free trading
* As a note of thanks to our loyal customers, all transactions conducted on Bitstamp through the end of the North American Bitcoin Conference -- January 17th (at 11:59pm UTC) -- will be commission-free.
We appreciate your patience and understanding during this disruption of services. Since 2011, we’ve worked hard to be one of the largest and most trusted bitcoin exchanges in the world. While this is a time of challenge for our company, we expect to emerge from this experience having set an even higher bar than before for trust and confidence in our services.
On a personal note, I’d like to thank the incredible teams at Bitstamp and at our lead investor Pantera Capital who have worked around-the-clock from multiple time zones in the last few days. I’m incredibly proud of the herculean work of this extended team, and grateful to the phenomenal show of support from customers, friends, and partners in the bitcoin community.
We look forward to serving you!
For additional information, please refer to our customer FAQ or contact our support team at [email protected].
Thank you,
Nejc Kodrič
CEO of Bitstamp
great news! i've put right my trust in you! I keep going to use your site!
not a word about 19k btc they've lost
are they going to refund em back somehow or we just supposed to forget about it?
Bitstamp is open, now with multisig. Here's the interesting bit of a message from bitstamp's boss.
https://www.bitstamp.net/article/bitstamp-is-open-for-business-better-than-ever/
What’s new?
Our team has been working day and night to rebuild and restore security to the Bitstamp site so customers can resume transacting with us quickly, safely, and confidently. Bitstamp is now fully operational with a number of key improvements:
Multi-sig
* With the integration of BitGo multi-sig technology, Bitstamp is now the first and only major bitcoin exchange to incorporate the industry's best security practices available today.
Completely new hardware infrastructure
* The Bitstamp systems are running on 100% new hardware deployed from a completely secure backup of our code and data.
Amazon Web Services
* Bitstamp is now running on Amazon’s world-class AWS cloud infrastructure, architected to be one of the most secure and reliable cloud computing environments available.
Commission-free trading
* As a note of thanks to our loyal customers, all transactions conducted on Bitstamp through the end of the North American Bitcoin Conference -- January 17th (at 11:59pm UTC) -- will be commission-free.
We appreciate your patience and understanding during this disruption of services. Since 2011, we’ve worked hard to be one of the largest and most trusted bitcoin exchanges in the world. While this is a time of challenge for our company, we expect to emerge from this experience having set an even higher bar than before for trust and confidence in our services.
On a personal note, I’d like to thank the incredible teams at Bitstamp and at our lead investor Pantera Capital who have worked around-the-clock from multiple time zones in the last few days. I’m incredibly proud of the herculean work of this extended team, and grateful to the phenomenal show of support from customers, friends, and partners in the bitcoin community.
We look forward to serving you!
For additional information, please refer to our customer FAQ or contact our support team at [email protected].
Thank you,
Nejc Kodrič
CEO of Bitstamp
https://www.bitstamp.net/article/bitstamp-is-open-for-business-better-than-ever/
What’s new?
Our team has been working day and night to rebuild and restore security to the Bitstamp site so customers can resume transacting with us quickly, safely, and confidently. Bitstamp is now fully operational with a number of key improvements:
Multi-sig
* With the integration of BitGo multi-sig technology, Bitstamp is now the first and only major bitcoin exchange to incorporate the industry's best security practices available today.
Completely new hardware infrastructure
* The Bitstamp systems are running on 100% new hardware deployed from a completely secure backup of our code and data.
Amazon Web Services
* Bitstamp is now running on Amazon’s world-class AWS cloud infrastructure, architected to be one of the most secure and reliable cloud computing environments available.
Commission-free trading
* As a note of thanks to our loyal customers, all transactions conducted on Bitstamp through the end of the North American Bitcoin Conference -- January 17th (at 11:59pm UTC) -- will be commission-free.
We appreciate your patience and understanding during this disruption of services. Since 2011, we’ve worked hard to be one of the largest and most trusted bitcoin exchanges in the world. While this is a time of challenge for our company, we expect to emerge from this experience having set an even higher bar than before for trust and confidence in our services.
On a personal note, I’d like to thank the incredible teams at Bitstamp and at our lead investor Pantera Capital who have worked around-the-clock from multiple time zones in the last few days. I’m incredibly proud of the herculean work of this extended team, and grateful to the phenomenal show of support from customers, friends, and partners in the bitcoin community.
We look forward to serving you!
For additional information, please refer to our customer FAQ or contact our support team at [email protected].
Thank you,
Nejc Kodrič
CEO of Bitstamp
great news! i've put right my trust in you! I keep going to use your site!
Surely multisig is 2-of3? Bitstamp holds one key, bitgo has one, the user has one. Two of these are required to spend the coins. Bitstamp likely clears funds with BitGo either in real time or periodically.
I'm not up to scratch on how they have implemented multi-sig on their side (still reading up), but the bitgo website says: "BitGo can never access your keys or Bitcoin".Edit: oh I see now that it says bitgo does hold one of the 3 keys and you hold 2 and each transaction requires 2/3 keys... not sure how that will work in conjunction with Bitstamp though and who would hold how many keys...
This multisig thing means that coins are stored on hot wallet all the time? Becuse Bitstamp can't move it? Or in private wallets of user? And every time they make a transaction user must provide third key?
BItstamp = 100% SCAM-POTENTIAL
Surely multisig is 2-of3? Bitstamp holds one key, bitgo has one, the user has one. Two of these are required to spend the coins. Bitstamp likely clears funds with BitGo either in real time or periodically.
how is this multisig working?
I mean sure you can safely keep your bitcoins on stamp and then withdraw em.
But what if you'll want to trade? This will mean that every time you want to sell your bitcoins to some1 you would have to sign a transaction with the 2 keys. Or else the guy who bought bitcoins from you will be unable to use em as he needs the keys
I mean sure you can safely keep your bitcoins on stamp and then withdraw em.
But what if you'll want to trade? This will mean that every time you want to sell your bitcoins to some1 you would have to sign a transaction with the 2 keys. Or else the guy who bought bitcoins from you will be unable to use em as he needs the keys
Stamp is no Gox, and I'm really glad to see them coming back to life. 
good to see with great updates & free trade fee in bitstamp.
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