May want to move your funds from MtGox this week - page 2.

Mae

newbie

Activity: 22

Merit: 0

Quote from: Jrock on March 19, 2013, 02:54:35 PM

You guys are making me nervous.

I keep a lot of cash in mtgox cause I keep hoping for a major crash lol.

Yeah me too! hehe But I prefer the dollars to sit and wait in my ordinary bank account. If that happens then I will send the money again to MtGox.

Now the BTC is so expensieve... it looks like really interesting for hackers to thief. Also since BTC is anonymous you can't sue or track the thief... to thief bit coins is a no-brainer, it's almost sure you won't go to jail! A friend of mine works as security auditor and I've learnt that no system is really safe, the only safe place for a server is under water and unplugged.

Tirapon

hero member

Activity: 898

Merit: 1000

Quote from: ehoffman on March 19, 2013, 02:48:22 PM

Well, I was thinking of that, but you know, the incentive is as great to write a virus that could get your wallet.dat and keystokes of your password... Maybe diversifying, in 3 exchanges plus your wallet, so if one get hacked, you only lose 25%...

Learn to use secure offline storage. Armory is great.

RodeoX

legendary

Activity: 3066

Merit: 1147

The revolution will be monetized!

Quote from: ehoffman on March 19, 2013, 02:48:22 PM

Well, I was thinking of that, but you know, the incentive is as great to write a virus that could get your wallet.dat and keystokes of your password... Maybe diversifying, in 3 exchanges plus your wallet, so if one get hacked, you only lose 25%...

That would help. Better yet, come get mine. They are on a USB stick right behind me and my arsenal of assault weapons.

Jrock

sr. member

Activity: 363

Merit: 250

You guys are making me nervous.

I keep a lot of cash in mtgox cause I keep hoping for a major crash lol.

jgarzik

legendary

Activity: 1596

Merit: 1100

Who would keep their money at a centralized website, rather than a decentralized wallet?

ehoffman

sr. member

Activity: 378

Merit: 250

Well, I was thinking of that, but you know, the incentive is as great to write a virus that could get your wallet.dat and keystokes of your password... Maybe diversifying, in 3 exchanges plus your wallet, so if one get hacked, you only lose 25%...

RodeoX

legendary

Activity: 3066

Merit: 1147

The revolution will be monetized!

I try to keep only a few hundred dollars worth of coins at the exchange. But it keeps going up so I am constantly pulling more out.
Not a bad problem to have.

blackreplica

full member

Activity: 224

Merit: 100

Personally I pulled all of mine off Mt Gox to a blockchain wallet, encrypted it with 2 passwords and set my mobile number for 2FA, just last week. Prior to that everything just sat in my trading account (though i did have a yubikey 2FA on my Gox account)

The main reason was simply because with the recent price runup, the value of my holdings was just too substantial now to just leave on an exchange rather than any doubts on Mt Gox in particular. The incentive to hack is really high now though, who knows Gox may get hacked again in future.

Never hurts to be careful, especially with something so easily movable as bitcoin

Elwar

legendary

Activity: 3598

Merit: 2386

Viva Ut Vivas

Quote from: Matthew N. Wright on March 19, 2013, 02:00:28 PM

Normally I'd be against alarmist posts, but since there isn't much reason to have MtGox holding your private wallet contents in the first place, this post just rings of common sense and nothing else. Bitcoins should always be under your own control until you're ready to spend them.

It is common sense for most of us but when I first started trading I kept almost all of my BTC on my exchange accounts. Fortunately someone posted something similar about not trusting your BTC on exchanges. I pulled almost all of my BTC out of Bitcoinica soon after that. A week later they got hacked.

Matthew N. Wright

hero member

Activity: 588

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Hero VIP ultra official trusted super staff puppet

Normally I'd be against alarmist posts, but since there isn't much reason to have MtGox holding your private wallet contents in the first place, this post just rings of common sense and nothing else. Bitcoins should always be under your own control until you're ready to spend them.

Elwar

legendary

Activity: 3598

Merit: 2386

Viva Ut Vivas

I have confidence in MtGox and I tend to trust a portion of my BTC in my account, but with their transition to the US and with prices going up so much bad things could happen.

Transfer most of your coins to an offline wallet for a while, keep your private key secure.

Topic: May want to move your funds from MtGox this week - page 2. (Read 3552 times)