MTGOX hits $570 "A bug in the bitcoin software makes it possible for someone to" - page 2.

seriouscoin

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Quote from: btcmad1337 on February 10, 2014, 07:41:16 AM

Quote from: oda.krell on February 10, 2014, 07:37:20 AM

Don't blame on the protocol what can be contained locally.

So your saying we should ignore all the bitcoind API documentation which tracks by txid and everyone should be responsible for making their own systems for tracking payments?

Quote from: oda.krell on February 10, 2014, 07:37:20 AM

Reading comprehension isn't your strong side, huh?

Please find me a wallet that prevents the transaction ID from being modified in-transit. Thats all I said. There are none so if your tracking payment by transaction ID's which is something almost everyone does then your vulnerable.

Any bitcoin-QT since 2012 idiot.

mmortal03

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"MtGox will resume bitcoin withdrawals to outside wallets once the issue outlined above has been properly addressed in a manner that will best serve our customers."

Put another way: We will hold all our customers' bitcoins hostage, to save ourselves from an alleged potential few who might scam us, until the community does what we please -- and we will do this even though there is probably another way for us work around the problem in the near term. Also, we don't care about spreading fear and crashing the price in the meantime by coming out with a press release that fixes nothing; come on, now, why would we want to work behind the scenes with the devs until a solution is developed and THEN put out a release?

btcmad1337

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Quote from: oda.krell on February 10, 2014, 07:37:20 AM

Don't blame on the protocol what can be contained locally.

So your saying we should ignore all the bitcoind API documentation which tracks by txid and everyone should be responsible for making their own systems for tracking payments?

Quote from: oda.krell on February 10, 2014, 07:37:20 AM

Reading comprehension isn't your strong side, huh?

Please find me a wallet that prevents the transaction ID from being modified in-transit. Thats all I said. There are none so if your tracking payment by transaction ID's which is something almost everyone does then your vulnerable.

Ekaros

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Activity: 728

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Quote from: btcmad1337 on February 10, 2014, 07:37:14 AM

Quote from: smoothie on February 10, 2014, 07:33:33 AM

Show me why other exchanges do not have this problem with withdrawals but ONLY MTGOX?

Remember MTGOX is using a custom version of the bitcoin software. This is likely the reason they have issues with their exchange platform.

Because the attack involves mining your own block, hence requires lots of hash power so is difficult to execute unless you've got stacks of hashpower. It may also be noticed by a smaller exchange when they noticed their balance is much lower than it should be. A couple hundred BTC missing from Mt Gox wouldn't go noticed, it would go noticed from cryptsy.

They will most likely try to execute this attack on other exchanges unless the devs push a fix fast which they are working on right now.

Who wants to keep their wealth on service that doesn't exactly track their funds or audit them regularly?

Teodor

sr. member

Activity: 252

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Quote from: DubFX on February 10, 2014, 05:38:45 AM

MTgox should be completely ignored...

I don't think so, as others are following and also dropping... people get scared and sell so the price drops... we'll see what's next in the market.

oda.krell

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Activity: 1470

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Quote from: btcmad1337 on February 10, 2014, 07:30:36 AM

Quote from: oda.krell on February 10, 2014, 07:16:07 AM

Gox is willing to damage the reputation of the *entire* Bitcoin ecosystem, so *they* don't have to take the blame for not implementing their wallet software properly.

Have any of you actually looked at this flaw?

It's been a known flaw for a while, here is the fix:
https://gist.github.com/sipa/8907691

Find me one Bitcoin wallet software that has this fixed as of right now and I will pay you 1BTC. HINT: there are none.

Reading comprehension isn't your strong side, huh?

Quote

Oh there is a “problem” in the Bitcoin protocol, known since at least 2011 (see the link I gave). But for normal applications, not involving unconfirmed transactions, it shouldn’t cause any severe problems because wallets can handle it locally.

Don't blame on the protocol what can be contained locally.

@Blitz

I don't share your cynicism on this one. I'm not "butthurt" the slightest, in fact, I profited nicely of this swing. But mtgox *is* in a very real sense a major factor in limiting usefulness and reliability of BTC as a whole. It would benefit everyone if they were taken out of the equation.

btcmad1337

newbie

Activity: 42

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Quote from: smoothie on February 10, 2014, 07:33:33 AM

Show me why other exchanges do not have this problem with withdrawals but ONLY MTGOX?

Remember MTGOX is using a custom version of the bitcoin software. This is likely the reason they have issues with their exchange platform.

Because the attack involves mining your own block, hence requires lots of hash power so is difficult to execute unless you've got stacks of hashpower. It may also be noticed by a smaller exchange when they noticed their balance is much lower than it should be. A couple hundred BTC missing from Mt Gox wouldn't go noticed, it would go noticed from cryptsy.

They will most likely try to execute this attack on other exchanges unless the devs push a fix fast which they are working on right now.

elewton

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Activity: 407

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DIA | Data infrastructure for DeFi

Quote from: btcmad1337 on February 10, 2014, 07:30:36 AM

Find me one Bitcoin wallet software that has this fixed as of right now and I will pay you 1BTC. HINT: there are none.

At the very least, I'm pretty sure blockchain.

smoothie

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LEALANA Bitcoin Grim Reaper

Quote from: btcmad1337 on February 10, 2014, 07:30:36 AM

Quote from: oda.krell on February 10, 2014, 07:16:07 AM

Gox is willing to damage the reputation of the *entire* Bitcoin ecosystem, so *they* don't have to take the blame for not implementing their wallet software properly.

Have any of you actually looked at this flaw?

It's been a known flaw for a while, here is a proposed fix:
https://gist.github.com/sipa/8907691

Find me one Bitcoin wallet software that has this fixed as of right now and I will pay you 1BTC. HINT: there are none.

Show me why other exchanges do not have this problem with withdrawals but ONLY MTGOX?

Remember MTGOX is using a custom version of the bitcoin software. This is likely the reason they have issues with their exchange platform.

mmortal03

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Activity: 1762

Merit: 1011

Quote from: yomofo on February 10, 2014, 05:37:52 AM

they have found a bug in the software. it's possible that the double spent transactions could lead to Mtgox insolvency in bitcoins. People are selling btc for fiat in mtgox as they have a better chance to sue in court for fiat.

This issue doesn't have to do with double spent transactions in the sense that this term is commonly used. My understanding is that this has to do with tricking a 3rd party into THINKING that a transaction did not occur.

N12

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Activity: 1610

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Quote from: Ekaros on February 10, 2014, 07:31:19 AM

Quote from: N12 on February 10, 2014, 07:30:23 AM

After seeing all the butthurt it causes, I have to say that I fully support MtGox.

Never support incompetence... So how much funds you have in Mt Gox or how much are you moving in?

MtGox creates additional Bitcoin volatility, I fully support that.

Ekaros

hero member

Activity: 728

Merit: 500

Quote from: N12 on February 10, 2014, 07:30:23 AM

After seeing all the butthurt it causes, I have to say that I fully support MtGox.

Never support incompetence... So how much funds you have in Mt Gox or how much are you moving in?

btcmad1337

newbie

Activity: 42

Merit: 0

Quote from: oda.krell on February 10, 2014, 07:16:07 AM

Gox is willing to damage the reputation of the *entire* Bitcoin ecosystem, so *they* don't have to take the blame for not implementing their wallet software properly.

Have any of you actually looked at this flaw?

It's been a known flaw for a while, here is a proposed fix:
https://gist.github.com/sipa/8907691

Find me one Bitcoin wallet software that has this fixed as of right now and I will pay you 1BTC. HINT: there are none.

N12

donator

Activity: 1610

Merit: 1010

After seeing all the butthurt it causes, I have to say that I fully support MtGox.

elewton

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Activity: 407

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DIA | Data infrastructure for DeFi

Two words. Spread them wherever you go: BOYCOTT GOX!

Mythul

sr. member

Activity: 644

Merit: 250

This is going to end badly. I'm out !

petersiddle98

sr. member

Activity: 272

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MTGOX is spoiling Bitcoin's name.

oda.krell

legendary

Activity: 1470

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Quote from: Ekaros on February 10, 2014, 07:19:10 AM

So how hard is it to verify the transactions from your wallet against the block chain?

Or not notice that you have lot less balance than you should have?

I always thought one would quickly lose interest in improving things (or basically: setting any challenging goals to themselves) once they're sitting on a 10k? 100k? BTC fortune like Karpeles does.

/2cents

smoothie

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LEALANA Bitcoin Grim Reaper

Quote from: oda.krell on February 10, 2014, 07:16:07 AM

As I said earlier in the wall thread (in similar words):

The ambiguous phrasing of the gox press release wasn't coincidence, of course.

I'm not even talking about a "conspiracy" style explanation that they're trying to manipulate their way out of a shortage of coins by bringing down the price and rebuying coins cheaper (so they can serve their customers). Makes sense, but even I don't think Karpeles would go that low.

No, the real explanation for the phrasing is:

Blame transfer.

Gox is willing to damage the reputation of the *entire* Bitcoin ecosystem, so *they* don't have to take the blame for not implementing their wallet software properly.

Seriously: To anyone still using mtgox -- stop. Withdraw your money (or try it), withdraw your coins (or try it), and let them die off.

We need mtgox removed from the system for Bitcoin to grow further.

Bolded part +21,000,000

Ekaros

hero member

Activity: 728

Merit: 500

So how hard is it to verify the transactions from your wallet against the block chain?

Or not notice that you have lot less balance than you should have?

Topic: MTGOX hits $570 "A bug in the bitcoin software makes it possible for someone to" - page 2. (Read 3488 times)