Topic: New Mt Gox Press Release - Feb 10 - they are claiming flaw in bitcoin protocol ! - page 9. (Read 33066 times)
February 10, 2014, 09:27:13 AM
Trying to dumb this down for me so I can understand it better and explain it to my friends:
I request $1,000 to be wired to me from Company A. Since there are so many wires with Company A, they have developed their own automated process. I notice a flaw in their code, so that after they send the wire, I can screw with the receipt that they get from the bank, making it seem to them that the wire didn't go through. Their flawed system doesn't check the bank balance, it just goes off of their flawed receipt. Therefore, I can request they send again.
Is this about accurate?
February 10, 2014, 09:24:34 AM
MtGox knows what they're doing , they are lowering the price on BTC so they can buy it at lower rates..
Well done
Well done
February 10, 2014, 09:23:09 AM
This type of stuff must and will happen.
BTC has never been stress-tested in the public eye in its history ever before like this, and thus this situation is nothing more than an excellent PR opportunity for the BTC community to demonstrate the innate resiliency of the network as a whole.
BTC has never been stress-tested in the public eye in its history ever before like this, and thus this situation is nothing more than an excellent PR opportunity for the BTC community to demonstrate the innate resiliency of the network as a whole.
Agreed. The more you break bones, the stronger they heal together.
Unless you get kneecapped lol.
February 10, 2014, 09:21:41 AM
Agreed ^^
At least someone in the media gets it:
http://siliconangle.com/blog/2014/02/10/bad-news-is-good-news-for-bitcoin/
All the "traditional" Keynesian economists will be embarrassed and shamed, one by one.
At least someone in the media gets it:
http://siliconangle.com/blog/2014/02/10/bad-news-is-good-news-for-bitcoin/
All the "traditional" Keynesian economists will be embarrassed and shamed, one by one.
February 10, 2014, 09:20:04 AM
This type of stuff must and will happen.
BTC has never been stress-tested in the public eye in its history ever before like this, and thus this situation is nothing more than an excellent PR opportunity for the BTC community to demonstrate the innate resiliency of the network as a whole.
BTC has never been stress-tested in the public eye in its history ever before like this, and thus this situation is nothing more than an excellent PR opportunity for the BTC community to demonstrate the innate resiliency of the network as a whole.
Exactly. Each time a gov't attacks it, an exchange F's up or whatever else happens to crash the price and then the BTC survives and even bounces back in price, the more obvious it becomes that it is here to stay and can't be stopped. Whatever doesn't kill it makes it stronger, and nothing has even come CLOSE to having the ability to kill it.
February 10, 2014, 09:19:18 AM
Who knows how many bitcoins MtGox may have been lost(double spent to the attackers) due to this bug before they notice it?
Do they still have enough coins for withdrawal?
Do they still have enough coins for withdrawal?
I wouldn't actually say that that happened AT ALL, at least on any noticeable scale.
If they had any bigger amount of such activities, well fuck you Gox then, learn to code better and cover your business ass.
Other than that, that statement is just a BIIIIG speculation, aside it being simple chicken responsibility transfer too.
Who gives a damn if one exchange didn't watched their steps? The people? No. Crypto Community? No, they're victims here. Dunno, just seems like a bunch of shit and I can't shake that off.
February 10, 2014, 09:18:01 AM
This type of stuff must and will happen.
BTC has never been stress-tested in the public eye in its history ever before like this, and thus this situation is nothing more than an excellent PR opportunity for the BTC community to demonstrate the innate resiliency of the network as a whole.
BTC has never been stress-tested in the public eye in its history ever before like this, and thus this situation is nothing more than an excellent PR opportunity for the BTC community to demonstrate the innate resiliency of the network as a whole.
Agreed. The more you break bones, the stronger they heal together.
February 10, 2014, 09:16:11 AM
Who knows how many bitcoins MtGox may have been lost(double spent to the attackers) due to this bug before they notice it?
Do they still have enough coins for withdrawal?
Do they still have enough coins for withdrawal?
February 10, 2014, 09:14:21 AM
This type of stuff must and will happen. Sucks for the people who have their coins in Gox, and nothing can be done to alleviate that feeling or loss.
BTC has never been stress-tested in the public eye in its history ever before like this, and thus this situation is nothing more than an excellent PR opportunity for the BTC community to demonstrate the innate resiliency of the network as a whole.
BTC has never been stress-tested in the public eye in its history ever before like this, and thus this situation is nothing more than an excellent PR opportunity for the BTC community to demonstrate the innate resiliency of the network as a whole.
February 10, 2014, 09:08:27 AM
none of this would have happened if they had just added litecoin last may. The chikun has now cast a voodoo curse on mtgox.
February 10, 2014, 09:06:07 AM
Great, this non issue got real FUD potential outside Bitcoin land.
I hope that MtGox already realized that this update they published on a problem in theIR bitcoin software will back fire really bad on them.
From a business perspective I would fire whoever is responsible for the published "excuse"
I hope that MtGox already realized that this update they published on a problem in theIR bitcoin software will back fire really bad on them.
From a business perspective I would fire whoever is responsible for the published "excuse"
Nevermind outside of Bitcoin land, look what happened inside it. I cannot stand fickle panic sellers.
February 10, 2014, 09:03:53 AM
This actually isn't as bad as it seems if your smart and hold your coins, but the bad press might be limiting but this is a great opportunity to buy A LOT of coins 
February 10, 2014, 09:03:38 AM
Great, this non issue got real FUD potential outside Bitcoin land.
I hope that MtGox already realized that this update they published on a problem in theIR bitcoin software will back fire really bad on them.
From a business perspective I would fire whoever is responsible for the published "excuse"
I hope that MtGox already realized that this update they published on a problem in theIR bitcoin software will back fire really bad on them.
From a business perspective I would fire whoever is responsible for the published "excuse"
Rarely any CEO fires himself
But I agree, yap. February 10, 2014, 08:55:55 AM
Great, this non issue got real FUD potential outside Bitcoin land.
I hope that MtGox already realized that this update they published on a problem in theIR bitcoin software will back fire really bad on them.
From a business perspective I would fire whoever is responsible for the published "excuse"
I hope that MtGox already realized that this update they published on a problem in theIR bitcoin software will back fire really bad on them.
From a business perspective I would fire whoever is responsible for the published "excuse"
February 10, 2014, 08:55:14 AM
FFS I missed the crash, how long was it at 110 for?
I was online at that moment, took me 30 sec to refresh, already was just line down, and back to 500+, so a guess would be: 3 secs
Basically someone just blindly believed mtgox statement and did their own doom. I mean, to be roughly even on sale at 1xx USD, you'd have to have bitcoins since when? 2012? LOL.
Well, not exactly. The price was in the low 100's not too long ago - last September. In 2012 you got Bitcoins still much, much cheaper than $ 100! Seems like the memory is really short in the Bitcoin world.
Nah, not so much about memory, more that I wasn't here before Nov 2013
And aside few graphs I didn't bother writing down all ups and downs in memory.Basically you did understand the point, but you had to go to extra trouble to clarify. Thanks.
But point proven - with such sale, you're going almost 6 months back, and in this particular case, 6 months with quite a ride. Which is to date biggest panic move I've witnessed.
On other topic; that pcworld thing - aaaah. I can see what journalists do; it's same everywhere. Basically you have this guy sitting at the computer, doing some "research" about potential article, and to earn more per hour, first clue is good enough. So, no surprise really. I'm more affraid that it'll get worse as more news carry this as there will be just more and more misinformation distributed. Bad day.
February 10, 2014, 08:50:20 AM
If it is a issue with the new bitcoin wallet then they can revert back to a older version, which worked for them correctly. Isn't it that simple or am i missing some points
February 10, 2014, 08:49:27 AM
The malleability issue seems real enough. Something was published on it on 21 january on bitcoin.it, maybe someone had to try it out
21 January 2013
2013, wtf..
February 10, 2014, 08:46:38 AM
Gee, I wonder.. Would it be Bitcoin's fault, or MtGox's?
(click for full res)
(click for full res)ROFL
you made my day
February 10, 2014, 08:45:40 AM
FFS I missed the crash, how long was it at 110 for?
I was online at that moment, took me 30 sec to refresh, already was just line down, and back to 500+, so a guess would be: 3 secs
Basically someone just blindly believed mtgox statement and did their own doom. I mean, to be roughly even on sale at 1xx USD, you'd have to have bitcoins since when? 2012? LOL.
Well, not exactly. The price was in the low 100's not too long ago - last September. In 2012 you got Bitcoins still much, much cheaper than $ 100! Seems like the memory is really short in the Bitcoin world.
February 10, 2014, 08:45:08 AM
is the situation same for all clones based on Bitcoin?
I mean, do all 1.gen cryptos suffer from this???
I mean, do all 1.gen cryptos suffer from this???
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