I introduced antivirus and firewall to my computer after years again.
Yet I still feel more secure for Bitstamp to take care of my coins.
Topic: To people who were using MtGox and those who are not using cold storage (Read 1220 times)
February 25, 2014, 05:50:59 AM
February 25, 2014, 05:38:13 AM
Financial systems and transactions must not rely on trusting people. The only thing you can trust is math.
+Aleph-null
February 25, 2014, 05:35:46 AM
The lesson is not that nobody can be trusted. There are countless good men and women in this community who are worthy of trust, and some of the very best people I've ever met.
And finally, the lesson is not that we ought to seek out "regulation" to save us from the evils and incompetence of man. For the regulators are men too, and wield the very same evil and incompetence, only enshrined in an authority from which it can wreck amplified and far more insidious destruction. Let us not retreat from our rising platform only to cower back underneath the deranged machinations of Leviathan.
The proper lesson, if I may suggest, is this: We are building a new financial order, and those of us building it, investing in it, and growing it, will pay the price of bringing it to the world. This is the harsh truth. We are building the channels, the bridges, and the towers of tomorrow's finance, and we put ourselves at risk in doing so.
And finally, the lesson is not that we ought to seek out "regulation" to save us from the evils and incompetence of man. For the regulators are men too, and wield the very same evil and incompetence, only enshrined in an authority from which it can wreck amplified and far more insidious destruction. Let us not retreat from our rising platform only to cower back underneath the deranged machinations of Leviathan.
The proper lesson, if I may suggest, is this: We are building a new financial order, and those of us building it, investing in it, and growing it, will pay the price of bringing it to the world. This is the harsh truth. We are building the channels, the bridges, and the towers of tomorrow's finance, and we put ourselves at risk in doing so.
It's nice to attribute eloquent quotations: http://www.reddit.com/r/Bitcoin/comments/1yv6ph/some_words_for_my_friends/
February 25, 2014, 05:27:59 AM
The lesson is not that nobody can be trusted. There are countless good men and women in this community who are worthy of trust, and some of the very best people I've ever met.
He's wrong about that.It doesn't matter how worthy someone is - they can make mistakes, they be threatened or blackmailed or hit by a bus.
Financial systems and transactions must not rely on trusting people. The only thing you can trust is math.
It was valuable enough to attract some clever criminals to exploit flaws in Gox's proprietary platform. They were caught with their pants down, because they didn't perform due diligence with their code. There's a reason people who write, review, and secure this kind of code for a living command high six figure salaries - they are worth it.
Gox has caused a number of problems for bitcoin since the beginning. I won't go into the sordid tale here since it's easy enough to find if you google it and I'm sure tomorrow the trade press will be spinning hay into gold with it ad nauseum. Let's just say that Gox has done bitcoin no favors lately, and this whirlwind of negative PR will be their final contribution.
Gox is leaving us all with this lesson: the finance world is not a place for amateurs and chumps. You want to be a part of the 'money revolution'? Then be prepared to treat everything as if you are Visa, the World Bank, and Wall Street. Hire real talent. Build it right. No shortcuts.
Bitcoin is only as good as its infrastructure. We need stable, reliable companies and services we can depend on to support it and help it grow. The market has decided that Gox is not one of those companies, and so it goes.
We've seen this coming for months now. It should surprise no one. The sooner it's blown over, the sooner we can get back to our moon rocket. This is the last time Gox gets to take the steam out of the engine.
Okey maybe I have gone overboard with this...hehe
February 25, 2014, 05:13:53 AM
The lesson is not that nobody can be trusted. There are countless good men and women in this community who are worthy of trust, and some of the very best people I've ever met.
He's wrong about that.It doesn't matter how worthy someone is - they can make mistakes, they be threatened or blackmailed or hit by a bus.
Financial systems and transactions must not rely on trusting people. The only thing you can trust is math.
February 25, 2014, 05:00:45 AM
The lesson is not that nobody can be trusted. There are countless good men and women in this community who are worthy of trust, and some of the very best people I've ever met.
And finally, the lesson is not that we ought to seek out "regulation" to save us from the evils and incompetence of man. For the regulators are men too, and wield the very same evil and incompetence, only enshrined in an authority from which it can wreck amplified and far more insidious destruction. Let us not retreat from our rising platform only to cower back underneath the deranged machinations of Leviathan.
The proper lesson, if I may suggest, is this: We are building a new financial order, and those of us building it, investing in it, and growing it, will pay the price of bringing it to the world. This is the harsh truth. We are building the channels, the bridges, and the towers of tomorrow's finance, and we put ourselves at risk in doing so.
And finally, the lesson is not that we ought to seek out "regulation" to save us from the evils and incompetence of man. For the regulators are men too, and wield the very same evil and incompetence, only enshrined in an authority from which it can wreck amplified and far more insidious destruction. Let us not retreat from our rising platform only to cower back underneath the deranged machinations of Leviathan.
The proper lesson, if I may suggest, is this: We are building a new financial order, and those of us building it, investing in it, and growing it, will pay the price of bringing it to the world. This is the harsh truth. We are building the channels, the bridges, and the towers of tomorrow's finance, and we put ourselves at risk in doing so.
February 25, 2014, 04:22:36 AM
i had a bad feeling they may be insolvent when mtgox slowed usd withdrawls
February 25, 2014, 04:02:05 AM
If you have not seen people warning 1000s of times before, listen now.
MtGox has screwed over its users time and time again. If MtGox comes up and you feel the urge to use them as an exchange...please just PM me and I will give you a BTC address to send your bitcoins.
If you have your bitcoins on a website, or they are sitting on your computer that is connected to the Internet. Send me a PM and I will give you a BTC address to send your bitcoins where they will be safe from hackers. Granted, they will also be safe from you as well.
If you do want to use an exchange, I suggest Bitstamp, BitFinex, CoinBase (for people in the US).
If you have purchased bitcoins, put them in cold storage!
What is cold storage? Bitcoin addresses consist of a public and a private key. The public key is where you send the bitcoins, anyone can see that. The private key is like your password to move your bitcoins stored in the public key. Cold storage is putting that private key in a place not accessible by some guy in Russia connected to your Internet connected computer or telephone.
Look up cold storage on here, there are many many many ideas on how to do it. Once you do it, it is easy from there on.
You are your own bank. Your money is only as safe as you want it to be.
MtGox has screwed over its users time and time again. If MtGox comes up and you feel the urge to use them as an exchange...please just PM me and I will give you a BTC address to send your bitcoins.
If you have your bitcoins on a website, or they are sitting on your computer that is connected to the Internet. Send me a PM and I will give you a BTC address to send your bitcoins where they will be safe from hackers. Granted, they will also be safe from you as well.
If you do want to use an exchange, I suggest Bitstamp, BitFinex, CoinBase (for people in the US).
If you have purchased bitcoins, put them in cold storage!
What is cold storage? Bitcoin addresses consist of a public and a private key. The public key is where you send the bitcoins, anyone can see that. The private key is like your password to move your bitcoins stored in the public key. Cold storage is putting that private key in a place not accessible by some guy in Russia connected to your Internet connected computer or telephone.
Look up cold storage on here, there are many many many ideas on how to do it. Once you do it, it is easy from there on.
You are your own bank. Your money is only as safe as you want it to be.
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