Bitcoin Forum

Why would I trust a coin that drops in value massively when sites selling it are getting DDoSed?

this means it has no credibility at all, people can choke it with DDoS and then short it over and over again

too bad, it was a good coin

uh, what does this have to do with bitcoin? it's everything to do with the crappy sites that deal with it. if another coin was top dog then it would fall when the same crappy sites failed too.

there's a new thing out called thinking things through. it's kinda cool. try it.

uh, then just dont trust. it is your right!

When one centralized coin exchange gets it's head chopped off just create another.

HYDRA.

BTC is getting ahead of itself by centralizing as fast as it can.

This tells you that the greed and lust for power is strong.

This is the old paradigm showing its ugly face by tainting the pure with "value".

This thread is just an example of pure nonsense and ignorance.

Here's the first mistake that is clearly visible. The statement "would I trust" has no correlation to a trust-less system which is Bitcoin. The value of Bitcoin in fiat is trivial. It can be more-or-less easily manipulated until there are some ETF's and similar institutions should stabilize the price a bit.

Bullshit. This logic is very flawed. Nothing has any "credibility" in this view since practically everything can be taken down with DDoS.

There is no kind of 'trust' at all!

can you DDoS gold? silver?
no. your argument is invalid

False analogy fallacy. I'm not surprised that your attempt at using logic is futile. DDoS-ing a exchange (a service that works with Bitcoin) has nothing to do with DDoS-ing Bitcoin itself. Similarly, you could just as easily DDoS websites that engage in trades of any kind of goods (including gold and silver). Remember, Bitcoin is still in its infancy stage.

Legendary.....

13 coin will be something when your master PLuto says so.

But it doesnt drop in price when sites are being ddosed. the exchanges being attacked only results in a slightly lower amount of bitcoin being exchanged. ???
I dont see how it affects the bitcoin price in a negative way.

So.. just to be clear, are talking about bitfinex "ddos"?
if it is, then go search a lil more, the dump has nothing to do with the ddos (but yeah, the bad administration from bfx just make it worse).

Just wait until the halving is over and everyone realizes (just like LTC halving) that all price movements happened before the halving.

Then all sorts of "ddos attacks" occur as traders that were hyping dump hard on the future bag holders.

They will use any excuse to mask the obvious runs on BTC.

probably on the future some botnet could implement thousand of bots making operations on a network platform, but probably if a ddos is detected at the network layer the measures will be the same as other l7 ddos attack. But drop the price because of a ddos? there is ddos to bit companies not reported and nothing happen :)

Keep your coin in cold wallet then, no matter what happens at exchanges your Bitcoin is safe in your cold storage. The perceived value might change, but you own the same amount of Bitcoins no matter what.

Bitcoin is still good regardless of exchanges and/or price, the technology and the blockchain has nothing to do with the effectiveness of websites...

Not sure what you're trying to get on about.

Remove exchanges and/or price and watch the community shrink down to evaporation level.

The man of incredible foresight speaks. Hey, is there any reason the last 300 of your posts (https://bitcointalk.org/index.php?action=profile;u=336807;sa=showPosts;start=300) are dots? Disgusted by the sight of your own history?

Just keeping scrubbers like yourself from misquoting.

Don't worry I'll "dot" the most recent ones as well since secrecy is so sacred to all of you.

It was less disgust with the content and more to do with the delivery.

Clearly not enough of you can listen.

Regardless what worry of it is yours?

The king of bitcointalk gave all the right to filter their own speech.

Selective scripted transparency is the art of some but not mine.

The answer is cold / paper wallet.

This reply deserves some recognition .. I salute you!

Sorry, what was that?

Someone had to say it.

 8)

and what do you say about stock exchange. when people start selling. a panic create or some thing worst happens in the state and the stock exchange start its journey down word. i think that is the nature of such kind of market and there is no worry about that.

He doesn't trust Bitcoin, but shows a lot of trust in dots!

Anyway, as well said above, you don't need to "trust" anything in Bitcoin, there are no dogmas. Does the word trust-less say anything?
You should not care about exchanges, just be your own bank.

There are two tenable positions:
1. Only code is Bitcoin.
2. Everything -- from miners to user base to sites dealing with Bitcoin -- is Bitcoin.

(2) works for me, Bitcoin is meaningless without the people who gravitate to it and businesses built around it, that's what gives it value. That's what gives any currency its value. Pretty much what gives *everything* in the world its value. Including society, or a country.

A country could be technically great, but if the people who live there suck/are crooks (not the country's fault), if the stores are constantly empty because someone just robbed them (not their fault), if no one trusts each other (not their fault -- surrounded by crooks), if everything is crappy and old and broken because all the surrounding countries  (unjustly) hate your country (not your country's fault), what you got is a shit country; a shitty place to live.
Communism too is great on paper. Unworkable in real life. Go figure.

Oh, the shilling is strong with this one.  ::) Back to the OP's question... You are most certainly not blaming Bitcoin {the technology} for 3rd party services using Bitcoin as a currency token for the ddos

being done on their centralized service? ....or are you mistakenly thinking that these services are the Bitcoin protocol? It is like blaming the dollar when PayPal are being attacked by ddos.  ::) Sorry, but you

are barking up the wrong tree with that statement.  ;D

I read about these ddos attacks, and I believe someone is manipulate with this a lot. Its very easy to start this attack and also there is fast and good defense from this attacks. People can easily find everything about it on internet, this attacks are just make site's to crowded, nothing more, this leads site to be slow.

Maybe I'm wrong, but I think that I even found to whom to pay for this attacks, just I'm not sure where. Anyway for me it's not a big deal, simply if OP doesn't wish to trust in btc let him.

well if you really thinks like that, then its your lost, there are a lot of exchanger available, you can use another exchanger, but blaming on the bitcoin is not a right things, but its your right to believe so

stop using bitcoin right away if you can't see the difference between a third party website (exchange) that is selling bitcoin and what bitcoin itself is.

It is not that they cannot see the difference, but rather a deliberate attempt at attacking Bitcoin for the mistakes being done by these third party websites. If you cannot attack Bitcoin directly, you will have to look for vulnerabilities in other associated services to harm it.

I would ignore this as another attempt to spread fud about Bitcoin, which is totally blown out of proportion on purpose. 

And yet people do trust it, which is good for miners and btc users)

Every single web page could be DDoSed so this is nnot something that only Bitcoin exposes to risk. But virtual world has its good and bad sides, hackers are bad side but that doen't mean thy you should stop using it. It's like you would stopp going on the street because a car might hit you.

This is a very interesting point. There are many bitcoin holders that have faced frauds or have been scammed through multiple scam sites and it is really hard to find reliable options to move your coins through online sites or brokers because of the high risks of those attacks.

That is why I would prefer to store my coins while these sites can't provide enough security to their users.

I don't see how and why did you link the DDoS attacks of different websites to the trust of BTC. Websites selling stuff for USD get DDoS'd too, and that doesn't mean we should not trust the USD. Bitcoin still is a good coin so far, it's great actually. I like everything about it. If you don't like it and cannot trust it, it's your choice. Nobody said you have to do it - you are free to choose what you think it's better for you.

Yeah... this thread is made from a guy who probably still doesn't understand the true nature of bitcoin. If he did knew something 'bout it, he would know that bitcoin sites are being DDosed each and every day