Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 31612.

Spaceman_Spiff

legendary

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Quote from: micalith on November 25, 2013, 02:07:29 PM

Quote from: justusranvier on November 25, 2013, 02:02:13 PM

Quote from: ardana123 on November 25, 2013, 01:58:59 PM

How is it that online wallets are so vulnerable to thefts? Do they all have the same vulnerability which can't be fixed or something?

The common vulnerability is that they are third parties which hold bitcoins on behalf of other people.

It can never be fixed other than convincing people to never let third parties hold their bitcoins for them, but there are ways to make online wallets less unsafe.

is there a safer option (other than paper wallets) where they don't have to download the whole blockchain?

edit: sorry OT

I am guessing Multibit (lightweight client, you control your own wallet files --> so put a password on it, and make sure your computer isn't full of viruses)

philip2000uk

sr. member

Activity: 276

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Quote from: micalith on November 25, 2013, 02:07:29 PM

Quote from: justusranvier on November 25, 2013, 02:02:13 PM

Quote from: ardana123 on November 25, 2013, 01:58:59 PM

How is it that online wallets are so vulnerable to thefts? Do they all have the same vulnerability which can't be fixed or something?

The common vulnerability is that they are third parties which hold bitcoins on behalf of other people.

It can never be fixed other than convincing people to never let third parties hold their bitcoins for them, but there are ways to make online wallets less unsafe.

is there a safer option (other than paper wallets) where they don't have to download the whole blockchain?

edit: sorry OT

Just get an address from bitaddress (follow the offline steps) And you can get people to put money into it. Think about the wallet in years to come if you want to withdraw, or i think an atm will work

philip2000uk

sr. member

Activity: 276

Merit: 250

Quote from: jojo69 on November 25, 2013, 01:34:14 PM

Quote from: philip2000uk on November 25, 2013, 01:31:03 PM

this girl is ignorant

what, exactly, is your problem

She's ignoring me. Because i said that singapore airport is nice, she even made the point that she's clicking ignore for that fact. So i just wanted to reply to her

wachtwoord

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Activity: 2324

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Quote from: micalith on November 25, 2013, 02:07:29 PM

Quote from: justusranvier on November 25, 2013, 02:02:13 PM

Quote from: ardana123 on November 25, 2013, 01:58:59 PM

How is it that online wallets are so vulnerable to thefts? Do they all have the same vulnerability which can't be fixed or something?

The common vulnerability is that they are third parties which hold bitcoins on behalf of other people.

It can never be fixed other than convincing people to never let third parties hold their bitcoins for them, but there are ways to make online wallets less unsafe.

is there a safer option (other than paper wallets) where they don't have to download the whole blockchain?

The blockchain is only 23.5 GB. I can't see that being an issue.

micalith

hero member

Activity: 894

Merit: 501

Quote from: justusranvier on November 25, 2013, 02:02:13 PM

Quote from: ardana123 on November 25, 2013, 01:58:59 PM

How is it that online wallets are so vulnerable to thefts? Do they all have the same vulnerability which can't be fixed or something?

The common vulnerability is that they are third parties which hold bitcoins on behalf of other people.

It can never be fixed other than convincing people to never let third parties hold their bitcoins for them, but there are ways to make online wallets less unsafe.

is there a safer option (other than paper wallets) where they don't have to download the whole blockchain?

edit: sorry OT

UnDerDoG81

legendary

Activity: 2184

Merit: 1213

The red dragon is really falling. Not sure if the crash will come or not. Everybody is waiting for a price dump and as soon as it goes under 800 everybody buys coins like wild. I´m not sure anymore if we will easily go through the 1000$ because it looks not attractive to trade 1000 to get 1.

ChartBuddy

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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

justusranvier

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Activity: 1400

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Quote from: ardana123 on November 25, 2013, 01:58:59 PM

How is it that online wallets are so vulnerable to thefts? Do they all have the same vulnerability which can't be fixed or something?

The common vulnerability is that they are third parties which hold bitcoins on behalf of other people.

It can never be fixed other than convincing people to never let third parties hold their bitcoins for them, but there are ways to make online wallets less unsafe.

Rampion

legendary

Activity: 1148

Merit: 1018

Quote from: NUFCrichard on November 25, 2013, 01:43:06 PM

Is he still a friend?

Yes indeed, now I'm a "genius" for him.

Last funny thing: he told me at the beginning of October: "hey man, $10k is a lot of money for me, I think I will sell, if then "some day" Bitcoin arrives to $1k x BTC I will hit myself in the head, but now I know that I could use the money..."

I told him: "$1k per coin? That's nothing. That's around the corner. We will go through $1k before you can even notice it, like a hot knife through butter". So he decided to hold a little more... And like 5 days later the rally began Cheesy

The guy is now so happy you can't even believe it. But, bad thing, he is now fully convinced that he has to hold forever and he will probably become a billionaire with his 70 coins. I told him many times: do not forget to reap some profits on the way up, this thing could very well go to 0 at some point... At least enjoy some of the profit, never go full fiat and always keep the vast majority of your coins for the long run, but don't be greedy and sell some on the way up, you need to give a piece of the pie also to the ones coming behind you Wink

ardana123

hero member

Activity: 504

Merit: 500

http://www.coindesk.com/bitcoin-payment-processor-bips-attacked-1m-stolen/

How is it that online wallets are so vulnerable to thefts? Do they all have the same vulnerability which can't be fixed or something?

Odrec

member

Activity: 112

Merit: 10

Quote from: ?? on ??

Quote from: Odrec on November 25, 2013, 01:27:44 PM

Take her around the world or something Wink

done that

she does not want to go again, something about airplanes suck, lol

Well I have to agree that airplanes suck. Maybe someday your bitcoins could afford her her own airplane Cool

Rampion

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Activity: 1148

Merit: 1018

Quote from: thetopham on November 25, 2013, 01:41:33 PM

Quote from: Rampion on November 25, 2013, 01:21:13 PM

Quote from: thetopham on November 25, 2013, 01:13:07 PM

$1000 invested, 1.25 coins O.O

LOL!!

I remember how I sold $1000 worth of coins to my best friend in January this year... I told him he couldn't afford to lose the opportunity, and he said "ok, WTF, take $1,000 and send me some of that magic internet money"...

Do you know how many coins I sold him?

BTC71

Cheesy

Crazy bitcoin, so crazy... And you have to know that at that time it seemed very expensive to him. He told me "come on man, can't you round it up and give me 100 coins? This is crazy, $1,000 hard earned dollars for 70 monopoly-like tokens" Cheesy

I will add that Bitcoin ALWAYS feel expensive when you first buy it. But it's not.

damn, $1000 becomes 56800 in a year? wtf?

In less than a year, Sir. I sold him the coins at the beginning of January 2013 - and yes, I bought them back from Gox as soon as I sold them to my friend Wink

Syke

legendary

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Merit: 1193

Well, until Amazon takes bitcoins directly, for now at least you can get Amazon gift cards. http://www.gyft.com/merchants/amazon-com/

BitChick

legendary

Activity: 1148

Merit: 1001

Quote from: Rampion on November 25, 2013, 01:30:31 PM

Quote from: ?? on ??

Quote from: Rampion on November 25, 2013, 01:24:45 PM

Quote from: BitChick on November 25, 2013, 01:21:56 PM

Quote from: ?? on ??

Quote from: Nemesis on November 25, 2013, 01:01:46 PM

Quote from: ?? on ??

Is 800 the new 15 and or 130???

hmmm

You have to ask?

How about this, $15 you sell your wife to buy BTC

If its $130, you buy yourself another wife

Deal?

yeah, i more or less did something like that... going all in at $3 was pretty hard for a while.

anyway she is getting a very nice ring for christmas. diamonds and gold is still are she really cares about, lol. silly girls.

I am a girl and I would prefer Bitcoins to Diamonds at this point! Why? In a year or two I could get 10 or even 100 for the price of 1! Grin

I have always loved a great deal. Bitcoin could be the best "deal" ever!

We will see though. I was complaining this morning that so far our investment in Bitcoin has only grown in the virtual world. We have not yet seen any benefits from it in the physical world. We will start pulling some out in a year or so I think, depending on how fast and high it grows.

Do not forget to take profits on the way up.

exactly, my wife has more bitcoins than most people on the forum. she held and now she wants some bling. she is young so whatever. its not like she is selling a significant amount.

BTC appreciated so much that somebody that bought aprox. 1 year ago (lets say 2012, or even Jan-Feb 2013) now has such a massive amount of unrealized profits (50x- 60x) that by selling only 10% of their stash they would be looking to at least a 5x profit compared to their initial investment... While continuing to hold to 90% of their stash. Not realizing profits in that scenario is plain dumb IMO, we all need some bling Wink

We did not purchase 1 year ago, unfortunately! We were the "lucky" ones that bought right before and then into the April bubble and then were a little upside down on some coins for a long time. But we were patient and held. I agree though, when we get to 50x to 60x profits I agree that we should realize some of the profits for sure. We have a plan in place but we are not in the same place as many of you here.

There are some that are just waiting for the day when Bitcoin is taken at most locations though. That might be convenient but we will see.

notme

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Activity: 1904

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Quote from: ?? on ??

Quote from: Odrec on November 25, 2013, 01:27:44 PM

Take her around the world or something Wink

done that

she does not want to go again, something about airplanes suck, lol

Airplanes do suck. Take her around the world on boats and trains. Since we have shit for public transportation in the US, rent a car. See the world, not just the airports and cities.

Syke

legendary

Activity: 3878

Merit: 1193

Quote from: MAbtc on November 25, 2013, 01:26:01 PM

I was promised a Monday rally!

Just as soon as my Bitstamp account is verified. I think they're getting backlogged with a ton of new customers.

thetopham

newbie

Activity: 56

Merit: 0

probably his best friend now

JimboToronto

legendary

Activity: 4200

Merit: 4887

You're never too old to think young.

Quote from: MAbtc on November 25, 2013, 01:26:01 PM

I was promised a Monday rally!

I was promised a crash.

NUFCrichard

legendary

Activity: 1218

Merit: 1003

Is he still a friend?

thetopham

newbie

Activity: 56

Merit: 0

Quote from: Rampion on November 25, 2013, 01:21:13 PM

Quote from: thetopham on November 25, 2013, 01:13:07 PM

$1000 invested, 1.25 coins O.O

LOL!!

I remember how I sold $1000 worth of coins to my best friend in January this year... I told him he couldn't afford to lose the opportunity, and he said "ok, WTF, take $1,000 and send me some of that magic internet money"...

Do you know how many coins I sold him?

BTC71

Cheesy

Crazy bitcoin, so crazy... And you have to know that at that time it seemed very expensive to him. He told me "come on man, can't you round it up and give me 100 coins? This is crazy, $1,000 hard earned dollars for 70 monopoly-like tokens" Cheesy

I will add that Bitcoin ALWAYS feel expensive when you first buy it. But it's not.

damn, $1000 becomes 56800 in a year? wtf?

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 31612. (Read 26608508 times)