Topic: mtgox "502 Bad Gateway" (Read 5326 times)
Apparently all the exchanges are being targeted at the moment in an attack.
Is it possible to build distributed exchange?
set of trusted people can change BTC to USD and back using their bank account or/and Paypal
single transaction can be split into several $10 transactions to minimize the risk if one of the "trusted people" failed to transfer money
in order to be moneychanger you need to make a security deposit equivalent to you daily volume limit. Security deposit can be help by higher rank moneychanger.
over the time regular moneychanger can became higher rank moneychanger.
Each transaction can have 0.1% fee to cover distributed exchange risks.
User can download desktop exchange application similar to p2p client which connects to the distributed exchange network.
set of trusted people can change BTC to USD and back using their bank account or/and Paypal
single transaction can be split into several $10 transactions to minimize the risk if one of the "trusted people" failed to transfer money
in order to be moneychanger you need to make a security deposit equivalent to you daily volume limit. Security deposit can be help by higher rank moneychanger.
over the time regular moneychanger can became higher rank moneychanger.
Each transaction can have 0.1% fee to cover distributed exchange risks.
User can download desktop exchange application similar to p2p client which connects to the distributed exchange network.
down again....
So annoying.
Short term issues don't seem anything to really worry about.
I've since moved all my coins to mulitbit. Thing is I don't trust myself to not accidentally delete something or somehow misplace all my bitcoins or lose a password, etc. But lately, after reading on this forum that someone had all their coins stolen out of their mtgox account, I'd rather trust my rudimentary computer skills than anything or anyone online.
I'm no techie, but does this mean mtgox is under attack again? I have most of my coins on this site, scared about moving them to a wallet on my desktop (ala multibit), but this is the second day in a row I'm seeing this message. Anyone else concerned?
Why are you more comfortable storing them online rather than your desktop? I feel much safer storing mine on my computer.
lately the site has many problems .....
I wonder if the size of this ddos compares to the previous one, MtGox certainly seems to have handles this one "fairly" well.
502 Bad Gateway
nginx/1.2.1
Aaand we're back!
nginx/1.2.1
Aaand we're back!
Looks like the price of btc is about the same before the down time. People got used to this and didn't get panic 
Hopefully as more and more exchanges become active, attacks against a single entity will no longer be effective in driving the price one way or the other in sufficient enough amounts to make the effort pay off for the attacker.
In the meantime hang on tight, it is going to be a wild ride as long as MtGox controls 80% of the transactions.
In the meantime hang on tight, it is going to be a wild ride as long as MtGox controls 80% of the transactions.
This may cause another panic sell and price of btc may drop again?
I'm afraid so.However, have faith in BTC.
The price will eventually get stable.
IDK if this was a DoS attack or not, but I saw a reddit post the other day, titled, "The latest Mt. Gox DDOS may have been a turning point. The attacker lost money."
The upshot is that the attackers make money because the (D)DoS makes people panic. If we don't panic, eventually it becomes unprofitable for them to do it, so they might stop.
Article: Have We Reached A Turning Point For Bitcoin Exchange DDoS?
Reddit discussion
The site seems to be up now.
Well that was fun
Anyone who knows, if the MtGox api runs while the webside is under ddos atack?
Doesn't matter what the issue is. The longer it is down the more drastic the effects on the value of bitcoin. I assume.
I saw it came back up at 120 something - looks like they don't cancel old orders when they open. very bad/dangerous practice. leaves your customers open to arbitrage.
Finally back up with BTC at $110
MtGox.com is like a small child, it's when everything seems too quiet and peacfull you need to be on guard.
If there is a week without trouble at MtGo, you need to be afraid - very afraid.
If there is a week without trouble at MtGo, you need to be afraid - very afraid.
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