Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 29809. (Read 26711072 times)
February 11, 2014, 05:03:19 PM
February 11, 2014, 05:02:54 PM
February 11, 2014, 05:01:06 PM
Journalists are bad. They don't understand technical problems and don't know when to STFU about same. 
There are two things going on:
1) Due to an old and well known potential problem in one possible implementation of a Bitcoin wallet, some people are able to create 'fake' transactions that will not ever be processed but might fool someone into thinking a transaction has taken place if their wallet is crap and they don't wait for confirmations. Mt. Gox had not kept their wallet up to date and was particularly vulnerable to this problem due to the way they tracked transactions, which incidentally was the wrong way. Some other exchanges have also identified that their wallets needed updating and are doing so/have done so. Kraken, for example, didn't need to update their wallet because they were treating transaction ID's appropriately all along as per the above-mentioned known problem. There is no risk to the protocol or the coins themselves at all and of course there never was.
2) The Internets are being squeezed today by DDoS troublemakers - as are some of the exchanges.
http://www.digitalattackmap.com/
Journalists are conflating these issues and presenting them as one - and some of them are exacerbating the first point by completely failing to understand the nature of the problem and how/why it only affected a few custom wallet implementations.
There are two things going on:
1) Due to an old and well known potential problem in one possible implementation of a Bitcoin wallet, some people are able to create 'fake' transactions that will not ever be processed but might fool someone into thinking a transaction has taken place if their wallet is crap and they don't wait for confirmations. Mt. Gox had not kept their wallet up to date and was particularly vulnerable to this problem due to the way they tracked transactions, which incidentally was the wrong way. Some other exchanges have also identified that their wallets needed updating and are doing so/have done so. Kraken, for example, didn't need to update their wallet because they were treating transaction ID's appropriately all along as per the above-mentioned known problem. There is no risk to the protocol or the coins themselves at all and of course there never was.
2) The Internets are being squeezed today by DDoS troublemakers - as are some of the exchanges.
http://www.digitalattackmap.com/
Journalists are conflating these issues and presenting them as one - and some of them are exacerbating the first point by completely failing to understand the nature of the problem and how/why it only affected a few custom wallet implementations.
Well said.
Note to any journalists reading this thread: please help stop spreading irresponsibly inaccurate reporting! Thanks!
February 11, 2014, 05:00:27 PM
Antonopoulos, who is the chief security officer of Blockchain.info, said a DDoS attack is taking Bitcoin’s transaction malleability problem and applying it to many transactions in the network, simultaneously.
“So as transactions are being created, malformed/parallel transactions are also being created so as to create a fog of confusion over the entire network, which then affects almost every single implementation out there,” he added.
As this increases in power the entire system will grind to a halt rendering the network useless. That is most likely what Bitcoinsteve is talking about. As people realise that the robustness of the network is actually quite weak we will see a reducing number of users and an increasing number of people leaving and dumping. Wouldn't you if all this would take place? We are seeing the start of this, and thus proving in principle that it is possible.
“So as transactions are being created, malformed/parallel transactions are also being created so as to create a fog of confusion over the entire network, which then affects almost every single implementation out there,” he added.
As this increases in power the entire system will grind to a halt rendering the network useless. That is most likely what Bitcoinsteve is talking about. As people realise that the robustness of the network is actually quite weak we will see a reducing number of users and an increasing number of people leaving and dumping. Wouldn't you if all this would take place? We are seeing the start of this, and thus proving in principle that it is possible.
So if this is true then it is the end!? Can anyone really confirm this? Then I will sell because I invested too much.
Can somebody (not fonzie) confirm this? Because then I need to sell, I have too much money in BTC.
My sources confirm, this is the end.
月亮和超越
February 11, 2014, 04:58:04 PM
Huobi now below 4000 CNY, first time since Dec/21.
That's one half of its all-time high of 8000 CNY on Nov/19 (although that was a fluke and should not be counted, the legitimate ATH was 7550 CNY on Nov/29.)
That's one half of its all-time high of 8000 CNY on Nov/19 (although that was a fluke and should not be counted, the legitimate ATH was 7550 CNY on Nov/29.)
February 11, 2014, 04:56:30 PM
Antonopoulos, who is the chief security officer of Blockchain.info, said a DDoS attack is taking Bitcoin’s transaction malleability problem and applying it to many transactions in the network, simultaneously.
“So as transactions are being created, malformed/parallel transactions are also being created so as to create a fog of confusion over the entire network, which then affects almost every single implementation out there,” he added.
As this increases in power the entire system will grind to a halt rendering the network useless. That is most likely what Bitcoinsteve is talking about. As people realise that the robustness of the network is actually quite weak we will see a reducing number of users and an increasing number of people leaving and dumping. Wouldn't you if all this would take place? We are seeing the start of this, and thus proving in principle that it is possible.
“So as transactions are being created, malformed/parallel transactions are also being created so as to create a fog of confusion over the entire network, which then affects almost every single implementation out there,” he added.
As this increases in power the entire system will grind to a halt rendering the network useless. That is most likely what Bitcoinsteve is talking about. As people realise that the robustness of the network is actually quite weak we will see a reducing number of users and an increasing number of people leaving and dumping. Wouldn't you if all this would take place? We are seeing the start of this, and thus proving in principle that it is possible.
So if this is true then it is the end!? Can anyone really confirm this? Then I will sell because I invested too much.
Can somebody (not fonzie) confirm this? Because then I need to sell, I have too much money in BTC.
February 11, 2014, 04:53:05 PM
Journalists are bad. They don't understand technical problems and don't know when to STFU about same.
There are two things going on:
1) Due to an old and well known potential problem in one possible implementation of a Bitcoin wallet, some people are able to create 'fake' transactions that will not ever be processed but might fool someone into thinking a transaction has taken place if their wallet is crap and they don't wait for confirmations. Mt. Gox had not kept their wallet up to date and was particularly vulnerable to this problem due to the way they tracked transactions, which incidentally was the wrong way. Some other exchanges have also identified that their wallets needed updating and are doing so/have done so. Kraken, for example, didn't need to update their wallet because they were treating transaction ID's appropriately all along as per the above-mentioned known problem. There is no risk to the protocol or the coins themselves at all and of course there never was.
2) The Internets are being squeezed today by DDoS troublemakers - as are some of the exchanges.
http://www.digitalattackmap.com/
Journalists are conflating these issues and presenting them as one - and some of them are exacerbating the first point by completely failing to understand the nature of the problem and how/why it only affected a few custom wallet implementations.
There are two things going on:
1) Due to an old and well known potential problem in one possible implementation of a Bitcoin wallet, some people are able to create 'fake' transactions that will not ever be processed but might fool someone into thinking a transaction has taken place if their wallet is crap and they don't wait for confirmations. Mt. Gox had not kept their wallet up to date and was particularly vulnerable to this problem due to the way they tracked transactions, which incidentally was the wrong way. Some other exchanges have also identified that their wallets needed updating and are doing so/have done so. Kraken, for example, didn't need to update their wallet because they were treating transaction ID's appropriately all along as per the above-mentioned known problem. There is no risk to the protocol or the coins themselves at all and of course there never was.
2) The Internets are being squeezed today by DDoS troublemakers - as are some of the exchanges.
http://www.digitalattackmap.com/
Journalists are conflating these issues and presenting them as one - and some of them are exacerbating the first point by completely failing to understand the nature of the problem and how/why it only affected a few custom wallet implementations.
Yeah , somebody's got some new toys to play with.
And that 400Gbps , ouch...
http://www.ibtimes.co.uk/largest-ever-ddos-cyber-attack-hits-us-european-victims-1435973
February 11, 2014, 04:50:29 PM
Any of you unfortunate souls trading on Gox experience your bids being canceled without your consent? I placed a bid about 30 min ago and when I saw it should have been hit, I noticed it was not. It was no longer in my order book.
That happend to quite a lot traders in the last months, you might check out the service discussion forum.
February 11, 2014, 04:50:18 PM
I'm taking that back. Huobi likes to dump as well, some 705 coins in one go. 3600 here we come 
February 11, 2014, 04:49:40 PM
Read the ticket support first :
http://support.coinbase.com/customer/portal/articles/1445308-2-10-2014-pending-transaction-balance-issues
And don't believe a word the troll is saying.
http://support.coinbase.com/customer/portal/articles/1445308-2-10-2014-pending-transaction-balance-issues
And don't believe a word the troll is saying.
February 11, 2014, 04:49:36 PM
5th attempt @ 4060 on Huobi. Major support, if it breaks it's going to be a long way down to 3600.
China has yet to wake up.. oh boy.
Byebye support
February 11, 2014, 04:49:15 PM
Any of you unfortunate souls trading on Gox experience your bids being canceled without your consent? I placed a bid about 30 min ago and when I saw it should have been hit, I noticed it was not. It was no longer in my order book.
February 11, 2014, 04:49:08 PM
Journalists are bad. They don't understand technical problems and don't know when to STFU about same.
There are two things going on:
1) Due to an old and well known potential problem in one possible implementation of a Bitcoin wallet, some people are able to create 'fake' transactions that will not ever be processed but might fool someone into thinking a transaction has taken place if their wallet is crap and they don't wait for confirmations. Mt. Gox had not kept their wallet up to date and was particularly vulnerable to this problem due to the way they tracked transactions, which incidentally was the wrong way. Some other exchanges have also identified that their wallets needed updating and are doing so/have done so. Kraken, for example, didn't need to update their wallet because they were treating transaction ID's appropriately all along as per the above-mentioned known problem. There is no risk to the protocol or the coins themselves at all and of course there never was.
2) The Internets are being squeezed today by DDoS troublemakers - as are some of the exchanges.
http://www.digitalattackmap.com/
Journalists are conflating these issues and presenting them as one - and some of them are exacerbating the first point by completely failing to understand the nature of the problem and how/why it only affected a few custom wallet implementations.
There are two things going on:
1) Due to an old and well known potential problem in one possible implementation of a Bitcoin wallet, some people are able to create 'fake' transactions that will not ever be processed but might fool someone into thinking a transaction has taken place if their wallet is crap and they don't wait for confirmations. Mt. Gox had not kept their wallet up to date and was particularly vulnerable to this problem due to the way they tracked transactions, which incidentally was the wrong way. Some other exchanges have also identified that their wallets needed updating and are doing so/have done so. Kraken, for example, didn't need to update their wallet because they were treating transaction ID's appropriately all along as per the above-mentioned known problem. There is no risk to the protocol or the coins themselves at all and of course there never was.
2) The Internets are being squeezed today by DDoS troublemakers - as are some of the exchanges.
http://www.digitalattackmap.com/
Journalists are conflating these issues and presenting them as one - and some of them are exacerbating the first point by completely failing to understand the nature of the problem and how/why it only affected a few custom wallet implementations.
February 11, 2014, 04:46:45 PM
AAAAAND Coinbase is out.! Does this affect retailers(Overstock.com) also right now?
http://support.coinbase.com/customer/portal/articles/1445308-2-10-2014-pending-transaction-balance-issues
BTC RxIxP 2014
http://support.coinbase.com/customer/portal/articles/1445308-2-10-2014-pending-transaction-balance-issues
BTC RxIxP 2014
February 11, 2014, 04:46:08 PM
As to who's behind it, Russia? NSA? The Fed? Anyone who feels threatened by Bitcoin?
People who want to take your coins, if you are foolish enough to give them up.
Russia.
More specifically a couple of Russian script kiddies.
February 11, 2014, 04:46:08 PM
As to who's behind it, Russia? NSA? The Fed? Anyone who feels threatened by Bitcoin?
People who want to take your coins, if you are foolish enough to give them up.
In those times you're better checking the top 100-500 addresses and see how many people are really panicking on that level.
February 11, 2014, 04:45:28 PM
5th attempt @ 4060 on Huobi. Major support, if it breaks it's going to be a long way down to 3600.
February 11, 2014, 04:44:45 PM
OK, i´m about to dump a few thousand more. I´m glad i transferred everything before the bug.
Read like I am waiting for a lower price.
February 11, 2014, 04:44:21 PM
As to who's behind it, Russia? NSA? The Fed? Anyone who feels threatened by Bitcoin?
People who want to take your coins, if you are foolish enough to give them up.
February 11, 2014, 04:44:13 PM
BTC-e Tweet: "Due DDOS on Bitcoin network there is a delay possible with crediting of transactions madden between 10-11 February. Be patient please"
BUG + DDOS confirmed. Well let´s see how this works out.
BUG + DDOS confirmed. Well let´s see how this works out.
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