Well, that's the way some people learn the importance of the term "counterparty risk".
Some make mistakes and learn the hard way - others play it smarter and learn from other people's mistakes throughout history.
After all, history doesn't repeat - but it rhymes pretty well. Sometimes too well...
Rule #1 on finance : If you don't hold it - you don't own it!
Topic: BREAKING NEWS: Multiple Exchanges Affected - Possible Global Shutdown (Read 13996 times)
March 01, 2014, 09:33:12 AM
February 28, 2014, 04:58:48 PM
And while I'm on the subject ... sometime in the next few months, the wallet of some major site will be hacked and a bunch of people are going to lose all of their bitcoins. You heard it here first.
Sounds like complete FUD to me.
It is not FUD. It is reality. I am stating the obvious. People that allow others to hold their bitcoins for them are generally newbies that are simply unaware of the risk.
It literally is FUD. You're basing this and the timeframe on absolutly nothing.
Sorry. I can't resist.
Told you so!
Lucky guess.
Since about 2010 or so a major site has been hacked and a bunch of people lose all their bitcoins every few months.
It doesn't take a lot of luck to predict that what happened consistently for the last three years is going to keep happening absence some fundamental change in the way these sites are operated.
I mean that is was lucky that he called it so close, not that he called it at all. It's easy to make predictions if you don't have a time frame. He did. That's the part that was lucky.
The point was not that I can correctly predict the future.
The point was that everyone should understand that storing their bitcoins in someone else's wallet is a big risk.
February 28, 2014, 02:36:47 PM
And while I'm on the subject ... sometime in the next few months, the wallet of some major site will be hacked and a bunch of people are going to lose all of their bitcoins. You heard it here first.
Sounds like complete FUD to me.
It is not FUD. It is reality. I am stating the obvious. People that allow others to hold their bitcoins for them are generally newbies that are simply unaware of the risk.
It literally is FUD. You're basing this and the timeframe on absolutly nothing.
Sorry. I can't resist.
Told you so!
Lucky guess.
Since about 2010 or so a major site has been hacked and a bunch of people lose all their bitcoins every few months.
It doesn't take a lot of luck to predict that what happened consistently for the last three years is going to keep happening absence some fundamental change in the way these sites are operated.
I mean that is was lucky that he called it so close, not that he called it at all. It's easy to make predictions if you don't have a time frame. He did. That's the part that was lucky.
February 28, 2014, 02:30:59 PM
And while I'm on the subject ... sometime in the next few months, the wallet of some major site will be hacked and a bunch of people are going to lose all of their bitcoins. You heard it here first.
Sounds like complete FUD to me.
It is not FUD. It is reality. I am stating the obvious. People that allow others to hold their bitcoins for them are generally newbies that are simply unaware of the risk.
It literally is FUD. You're basing this and the timeframe on absolutly nothing.
Sorry. I can't resist.
Told you so!
Lucky guess.
Since about 2010 or so a major site has been hacked and a bunch of people lose all their bitcoins every few months.
It doesn't take a lot of luck to predict that what happened consistently for the last three years is going to keep happening absence some fundamental change in the way these sites are operated.
February 28, 2014, 02:26:03 PM
And while I'm on the subject ... sometime in the next few months, the wallet of some major site will be hacked and a bunch of people are going to lose all of their bitcoins. You heard it here first.
Sounds like complete FUD to me.
It is not FUD. It is reality. I am stating the obvious. People that allow others to hold their bitcoins for them are generally newbies that are simply unaware of the risk.
It literally is FUD. You're basing this and the timeframe on absolutly nothing.
Sorry. I can't resist.
Told you so!
Lucky guess.
February 28, 2014, 06:38:25 AM
And while I'm on the subject ... sometime in the next few months, the wallet of some major site will be hacked and a bunch of people are going to lose all of their bitcoins. You heard it here first.
Sounds like complete FUD to me.
It is not FUD. It is reality. I am stating the obvious. People that allow others to hold their bitcoins for them are generally newbies that are simply unaware of the risk.
It literally is FUD. You're basing this and the timeframe on absolutly nothing.
Sorry. I can't resist.
Told you so!
February 26, 2014, 04:13:56 PM
February 26, 2014, 03:51:09 PM
FUD
February 26, 2014, 03:28:50 PM
If so, it seems to me if we learn anything from this debacle is that bitcoin needs a full-time team to deal more quickly with both (a) known possible attacks / vulnerabilities and (b) 'upgrades' to the protocol.
https://bitcointalksearch.org/topic/m.1616687 February 25, 2014, 01:30:56 PM
FUD at its best. Troll on, please.
FUD is the best... you are kidding
and I know it 
Lol
bless all of you!
February 25, 2014, 11:47:23 AM
FUD at its best. Troll on, please.
February 25, 2014, 11:06:14 AM
I'm not a techie, but if I were, I would be advancing all the different ways that I could think of for maintaining and growing public communications beyond the Internet. I would be working to develop an independent communication grid that is entirely decentralized, yet worldwide, just like Bitcoin is.
February 25, 2014, 10:15:10 AM
If so, it seems to me if we learn anything from this debacle is that bitcoin needs a full-time team to deal more quickly with both (a) known possible attacks / vulnerabilities and (b) 'upgrades' to the protocol.
February 25, 2014, 08:51:24 AM
Very crazy. Wonder if cryptsy will be hit too?
February 25, 2014, 08:34:35 AM
Oh shut up you both.
February 12, 2014, 04:44:33 PM
Press F1
I see what you did there. February 12, 2014, 02:14:23 PM
February 12, 2014, 02:13:07 PM
Press F1
February 12, 2014, 12:25:53 PM
Metatreder4 live trading on BTC-e not working, of monday 10.feb.2014 year
February 12, 2014, 11:53:13 AM
This is incorrect.
The standard wallet software considers change from a transaction to be immediately available, and usable as an input to a second transaction.
If the first transaction is replaced by a rewritten one, the second transaction becomes invalid, and will never confirm.
What's that got to do with the malleability issue? I mean, regardless of the malleability, I could just as well manipulate the client and build a customized version which considers spent input (from a transaction that is not confirmed yet) as still available, allowing me to do a 2nd transaction with it. Essentially this approach is just another attempt to double spend, which won't work.The standard wallet software considers change from a transaction to be immediately available, and usable as an input to a second transaction.
If the first transaction is replaced by a rewritten one, the second transaction becomes invalid, and will never confirm.
The malleability issues allows other people to rewrite your first transaction without you knowing.
That makes your second transaction fail.
Even though you have done nothing but use the standard wallet in a perfectly normal way.
Which is what you said wasn't true:
Quote
3. No transactions are cancelled, withdrawn, blocked, or hindered in any way (other than their tx id getting changed which is completely irrelevant).
Jump to: