Topic: Bitstamp: Less than 19,000 BTC lost !!! - page 2. (Read 3934 times)

The whole point of bitcoins is to send currency to someone without 3rd party! What you propose is like using a bank wire...

That's difficult in one step I think. But as a first step you could blacklist stolen coins and don't trade those coins. Private mixing don't helps much, because in this case you would need 19k clean coins to get the taint under 50% and the tainted coins would still distinguish from others. This is at least not a technical problem but a political issue in the community:

https://bitcoinfoundation.org/forum/index.php?/topic/505-coin-tracking/

tldr: Community don't want this for religious reasons. Do not discuss with religious fanatics. I also think that most exchanges do not want it. Gox was an inside job for a example. Today the big mixing services exchanges are in China. 0+0=8; nuff said.  

Bitstamp booth at CES, yesterday.

Looks like they never made it to Vegas.

Where is their CEO right now?

I don’t understand why the coins can’t be traced to the hackers.

If Bitcoin address 1234 sells to 4321 and 4321 sells to 100 other wallets, when those 100 wallets dump to an exchange can't the police just trace it back to the source?

I think there should be a credentials checking system for creating wallets, for example when someone sign’s up for a wallet they provide ID, the crypto addresses that are created from the wallet are then legally binding to that person. This ID information is not publically available, but instead locked up within the Bitcoin network protocol. Ok, I understand there will be some level of administration and the whole process will need to be automated as much as possible to reduce cost overhead. In the same way Bitcoin transactions are processed using "Bitcoin Miners", maybe add on to the existing protocol, some sort of "Identification Miner" which has connections to credit reference agencies. In fact, let’s not have people and make this completely automated, isn’t the world heading that direction anyway? Although, I suppose someone would need “the key” to unlock ID information, which would mean a form of centralisation. I think.

It’s only an idea, what the heck do I know, I’m no programmer and certainly not an expert in BTC. Just some guy who really wants BTC to succeed and enjoys a bit of mining   

Some people might wonder were and when the coins will be dumped sold

Where did they say that? They never said that. On the first day they said they wanted to give an ETA later that day (which they did). Then they said it would take them approx. 24 hours until they got their internal system back up from the backup in a new safe location - they did. Now they are saying it will take approx. 24-48 hours until they are available again. Doesn't look to bad in my books!

they clearly said 19k BTC aint no problem for them, as u even posted. why are u asking again if u posted answer your question ?

Bitstamp said that they will open today
Bu now still i cant use them
it smells bad..

I don't think many people who don't have funds on Bitstamp are panicking.

I think the same.

in this case(Bitstamp), hm...I am not sure what to say...

What I am SURE is that all the big "players" are a gang. I include the chineses exchangers too.

Bistamp is related with Ripple, Bitcoin Foundation and others. Their shareholders are shareholders for many other bitcoin companies.

i think they will cover the loss because the scandal will be TOO BIG and it will involve all these companies and Bitcoin will crush.
Bitfinex, Coinbase are related with Bitstamp. Bitstamp is processing their orders.

They have no interest to comprise all these companies when they are making millions.


So, they are a gang who is manipulating the market how they want and each of them are taking a piece of the cake named Bitcoin.

a simple proof is these days. Bitstamp hacked, people in panic, a lot of sells and the Bitcoin price is raising

Painfully true. We never seem to hear "We've brought in outside accountants, and here they are, and here's their full audit report", or "we've brought in the police, and here's Detective ABC, who will report on the status of the investigation", or "immediate refunds are available by contacting the lawyers who are managing our shutdown".

I urge anyone in the UK with substantial money in Bitstamp to use the "statutory demand" procedure to compel them to pay up. From the UK goverment web site:

You can make a statutory demand to ask for payment of a debt from an individual or company.

Anyone who’s owed money can make a statutory demand and you don’t need a lawyer.

When someone receives a statutory demand, they have 21 days to either settle the debt (or) reach an agreement to pay.

If they don’t make an agreement, you can start ... winding up a limited company that owes more than £750.

This is a big hammer. You can take Bitstamp into liquidation if they don't pay up. The UK is a "pay up or else" country. The UK used to have debtors prisons, and while they've lightened up a bit on debt enforcement in the last century, they're still tougher on debtors than the US or Japan. (Ireland is even tougher.)

You can only do this if you have an address in the UK, though. Otherwise, you need a lawyer in the UK.

Yup. Not only do you get market risk, but counterparty risk besides. Just a cost of doing _that_ type of business. Factor it in when you're doing your cost/benefit analysis.

I see this mentioned all the time. Sure it's easy to just say "DON'T LEAVE BTC ON THERE", but when someone actively trades on an exchange, there's no other way. You need BTC or fiat readily available in case of an unexpected dip or jump in price. It takes about an hour for bitsamp to credit your account if you deposit BTC (6 confirmations), so depositing funds right when you see a dip is already too late.

The overtly optimistc/blind will defend these guys til they burn down to the ground.


IMO, all these supposed 'hacks' of exchanges were nothing more than inside jobs.  Gox, Cryptorush, Coinex, Mintpal, Bitstamp...the list goes on forever.  This is stolen money..and the owners/scammers all just follow the same wordpress template during the situation:

*insert 'down for maintenance page'
*insert 'we have been attacked, please allow us time to address the issue' splash page message
*insert 'we assure your old funds are safe, please bear with us' update message
*insert 'we are terribly sorry but due to the losses we have to close up shop as we are insolvent' finality message, as you strung along users for over a month with enough time to flee your native country, change your legal name, and enjoy your millions you scammed from your own users 



At least with Mintpal, they admitted it.  But at the same time, after reading that whole fiasco, even that seems a bit shady because it's 2 owners deferring blame to a rogue member.  And I have heard zero updated on the court proceedings that supposedly started 3 months ago (and nobody has even verified or attended it)...to which they even raised a good 5 digits worth of bitcoin charity for their supposed prosecution money.

Ridiculous lol.

very good choice. at least, nobody will steal your money. you can go to sleep without fear that in the morning your money are vanished in an ukrainian or russian pocket(hacker)

It is creepy that they have not solved the issue yet

I say that was a theft.
It's a strong reminder that you shall not leave any money at an exchange. I'm stunned that many people still do.

Nope - I'm completely serious.



I am not anti sig campaign per se. I am against people using sig campaigns to shill for fraudulent activities.


No. You are promoting that people use PayBase. An entity whose real reason for existing is likely nothing other than a means for Garza to unload his near-certain Ponzi Paycoins (96% of the total, and proportionally growing due to his 350% staking rate) for others' Bitcoins and other things of actual value.

The fact that your initial post to which I replied was you deriding anyone who kept money on exchanges is just the ironic icing on the proverbial cake.



Certainly, you're aware that the reason you are paid for whoring for PayBase is due to the fact that sig campaigns net positive cash flow for the people running the campaigns, right? Ergo, your shilling is indeed putting money in PayBase's pocket. If not, they'd not be paying you for it. You are influencing others to believe in the scam. Whether or not you are _trying_ to do so is irrelevant.


No. Generally I stay away from scammy entities. Mostly by investing in only things I have researched fully. And I have scant little time for research. This may cause me to pass up some meaningful opportunities for profit, but I am fine with that. AAR, the evidence of GawMiners, PayCoin, and PayBase being scams has been overwhelming from their inception. Accordingly, I have invested nothing in them.

...and with that, I have unintentionally dragged this way off topic. Sorry to all. I shant respond again, except if in another thread.

Just ... think about it, won't you?

I suggest you to calm down.

Bitcoin is not an investment. Bitcoin is a digital currency which allow you to make a transaction with any person around the world with no 3rd party companies operating your transaction.

If you look at the Bitcoin only in a matter of a value/price - then I am sorry.

Bitstamp problem is a problem but Bitstamp is only an exchange which will perhaps recover and work again. Indeed there is a problem with security around the Bitcoin world but don't leave this Bitcoin world only because of some issues.

We are in the experimental stage and shit will happens sometimes

Kind regards.

this whole BTC shit are starting to get annoying.
Im cashing out all my bitcoins soon before it gets to 200$ and before coinbase lose 20,00000 bitcoin something like that
f this shit I'll just invest in metals