Topic: PC World Claims Counterfeit Bitcoins - page 2. (Read 8964 times)
Have mercy with them. They don't know better.
I found this article annoying after the first ~3 paragraphs and then didn't bother.
Thanks to all of the posters helping to better explain this.
Twobits : exactly... people should know what they're writing about before putting an article out in the wild.
Twobits : exactly... people should know what they're writing about before putting an article out in the wild.
If you have realy a little understanding how databases and bitcoins are working and assuming you read this article carefully and understand it you shouldn´t come to the conclusion the author is an idiot.
I am not an expert but in the database are no bitcoins stored. Only numbers that represents an accounts amount of bitcoin. If you "fake" or "counterfeight" this number you just change a number inside a database. The bitcoin block chain was never affected. So sure you can create an "counterfeit" amount of any item/number inside a database. And nothing else was mentioned by the author.
"The hacker was able to create 2 million counterfeit BTC by manipulating the company's trading database ..."
In my opinion from an technical point of view this article claims no false facts and is correct.
The question for me is if it realy was happen in this way. But that makes me not calling the author an "idiot".
I am not an expert but in the database are no bitcoins stored. Only numbers that represents an accounts amount of bitcoin. If you "fake" or "counterfeight" this number you just change a number inside a database. The bitcoin block chain was never affected. So sure you can create an "counterfeit" amount of any item/number inside a database. And nothing else was mentioned by the author.
"The hacker was able to create 2 million counterfeit BTC by manipulating the company's trading database ..."
In my opinion from an technical point of view this article claims no false facts and is correct.
The question for me is if it realy was happen in this way. But that makes me not calling the author an "idiot".
If you have little understanding, it should be a hint to do more research and fact checking before writing about it as a reporter.
Changing the number in the database no more counterfeits bitcoins then a bank printing out an erroneous statement of your account showing more in it counterfeits euros.
You opinion is wrong. The title is claiming a false fact and is wrong. The fact you hold this opinion does not change the fact it is wrong nor make the author any more correct, it just means you are both wrong.
In this case though, it may just be the author of the headline, if could be someone else comes up with the headline then the author, I know that is often the case for newspapers.
[...]
there are three possibilities:
1) bitcoins were counterfeited
Not possibel, as far as we know at the moment.
Quote
2) the author is intentionally misleading readers with the headline
I agree. The headline also made me think this article is just another crap but i changed my mind after reading it.
Quote
3) the author is stupid
Not after carefully reading and understanding the article. I read much worse articles in the last days about bitcoin. Beside the facts claimed about what happens it seems the author know the technology he is writing about. And therefor i still can't call him an idiot.
"The hacker was able to create 2 million counterfeit BTC by manipulating the company's trading database ..."
In my opinion from an technical point of view this article claims no false facts and is correct.
The question for me is if it realy was happen in this way. But that makes me not calling the author an "idiot".
So he takes the time to get the facts right and not be libel, but none the less uses the word counterfeit as the article headline.In my opinion from an technical point of view this article claims no false facts and is correct.
The question for me is if it realy was happen in this way. But that makes me not calling the author an "idiot".
Nice hack job.
you're right - nice hack job.
but you're wrong - there's no libel (slander, actually). nobody has legal standing where Bitcoin are concerned. it isn't a currency; so you haven't been injured. there is no company which owns the Bitcoin name... etc.
nobody's been libeled. nobody's been hurt.
we're kinda screwed where the media is concerned. they can say whatever they like.
You can't counterfeit Bitcoin
"The hacker was able to create 2 million counterfeit BTC by manipulating the company's trading database ..."
In my opinion from an technical point of view this article claims no false facts and is correct.
The question for me is if it realy was happen in this way. But that makes me not calling the author an "idiot".
So he takes the time to get the facts right and not be libel, but none the less uses the word counterfeit as the article headline.In my opinion from an technical point of view this article claims no false facts and is correct.
The question for me is if it realy was happen in this way. But that makes me not calling the author an "idiot".
Nice hack job.
If you have realy a little understanding how databases and bitcoins are working and assuming you read this article carefully and understand it you shouldn´t come to the conclusion the author is an idiot.
I am not an expert but in the database are no bitcoins stored. Only numbers that represents an accounts amount of bitcoin. If you "fake" or "counterfeight" this number you just change a number inside a database. The bitcoin block chain was never affected. So sure you can create an "counterfeit" amount of any item/number inside a database. And nothing else was mentioned by the author.
"The hacker was able to create 2 million counterfeit BTC by manipulating the company's trading database ..."
In my opinion from an technical point of view this article claims no false facts and is correct.
The question for me is if it realy was happen in this way. But that makes me not calling the author an "idiot".
I am not an expert but in the database are no bitcoins stored. Only numbers that represents an accounts amount of bitcoin. If you "fake" or "counterfeight" this number you just change a number inside a database. The bitcoin block chain was never affected. So sure you can create an "counterfeit" amount of any item/number inside a database. And nothing else was mentioned by the author.
"The hacker was able to create 2 million counterfeit BTC by manipulating the company's trading database ..."
In my opinion from an technical point of view this article claims no false facts and is correct.
The question for me is if it realy was happen in this way. But that makes me not calling the author an "idiot".
there are three possibilities:
1) bitcoins were counterfeited
2) the author is intentionally misleading readers with the headline
3) the author is stupid
you decide which of the three is true.
It's not counterfeiting. It's just fractional reserve banking. MtGox "loaned out" a million bitcoins that it didn't actually have. 
Doodz what the hell?
Did anyone actually read MT's press statement?
?
cuz this so-called journalist did not.
In fact we need a cease and desist on this idiot, right now.
They said, 2000 bitcoins, where lost by hacker that gained access to old owners account.
Mt Gox is absorbing this cost, and taking the loss.
How the fuck could anyone misinterpret that???
Could someone do us a favor and remove a journalists head from his own ass??
Good Job PC World, I am now deducting 10 IQ points from each of your readers.
That puts your readers somewhere around bananna...
This is what facebook and twitter does to people.
You lose all your memory and Just Start Making Shit Up!!!!!! HAHAHAHHA
Did anyone actually read MT's press statement?
?cuz this so-called journalist did not.
In fact we need a cease and desist on this idiot, right now.
They said, 2000 bitcoins, where lost by hacker that gained access to old owners account.
Mt Gox is absorbing this cost, and taking the loss.
How the fuck could anyone misinterpret that?
??Could someone do us a favor and remove a journalists head from his own ass??
Good Job PC World, I am now deducting 10 IQ points from each of your readers.
That puts your readers somewhere around bananna...
This is what facebook and twitter does to people.
You lose all your memory and Just Start Making Shit Up!!!!!! HAHAHAHHA
If you have realy a little understanding how databases and bitcoins are working and assuming you read this article carefully and understand it you shouldn´t come to the conclusion the author is an idiot.
I am not an expert but in the database are no bitcoins stored. Only numbers that represents an accounts amount of bitcoin. If you "fake" or "counterfeight" this number you just change a number inside a database. The bitcoin block chain was never affected. So sure you can create an "counterfeit" amount of any item/number inside a database. And nothing else was mentioned by the author.
"The hacker was able to create 2 million counterfeit BTC by manipulating the company's trading database ..."
In my opinion from an technical point of view this article claims no false facts and is correct.
The question for me is if it realy was happen in this way. But that makes me not calling the author an "idiot".
I am not an expert but in the database are no bitcoins stored. Only numbers that represents an accounts amount of bitcoin. If you "fake" or "counterfeight" this number you just change a number inside a database. The bitcoin block chain was never affected. So sure you can create an "counterfeit" amount of any item/number inside a database. And nothing else was mentioned by the author.
"The hacker was able to create 2 million counterfeit BTC by manipulating the company's trading database ..."
In my opinion from an technical point of view this article claims no false facts and is correct.
The question for me is if it realy was happen in this way. But that makes me not calling the author an "idiot".
well, well.
mr. paul (the author of that pathetic article) appears to have uncovered the only disadvantage to Bitcoin that i've run across, to date. as a purely decentralized currency - without an owning entity or any responsible party - there's nobody to sue the bastards.
they can say whatever they like about Bitcoin, and there's no existing mechanism (legally, that would be no injured party) to fight with.
"counterfeit" my ass.
mr. paul (the author of that pathetic article) appears to have uncovered the only disadvantage to Bitcoin that i've run across, to date. as a purely decentralized currency - without an owning entity or any responsible party - there's nobody to sue the bastards.
they can say whatever they like about Bitcoin, and there's no existing mechanism (legally, that would be no injured party) to fight with.
"counterfeit" my ass.
Looking at the "Similar Articles" box it seems over there they mostly just wanna make people think Bitcoin is a bust...
Et Tu, PC World?
Looking at the "Similar Articles" box it seems over there they mostly just wanna make people think Bitcoin is a bust...
Why is it that every day MtGox's words sound less and less trustworthy to me...?
Strange...
Strange...
Welcome to the media world!
Where news reporting equals coming up with your own "facts"
Hope someone set these idiots straight in their article comments.
Honestly, can't turn around without someone perpetuating some kind of nonsense.
Honestly, can't turn around without someone perpetuating some kind of nonsense.
yes. set them straight. leave a comment and email the author. i did. you should too.
this rumor, once started, will spread like fire.
Welcome to the media world!
Hope someone set these idiots straight in their article comments.
Honestly, can't turn around without someone perpetuating some kind of nonsense.
Honestly, can't turn around without someone perpetuating some kind of nonsense.
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