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Title: Mtgox attacks itself for profit? Post by: whitetoo on April 11, 2013, 12:38:49 AM Playing Devil's Advocate here but wondered why MtGox wouldn't attack it's own servers to manipulate price, they have more than enough funds to buy up large stock as the price plummets.
Very little was put in place to increase prevention of a DDoS attack last week, you have to wonder. Blame it on a "strategic hacker group". Want to preserve what is left of your credibility MtGox? Get some hardware in place without delay, seeing as it was such an "incredible week for you" (in your own words). Bring on the growth and birth of other exchanges. Title: Re: Mtgox attacks itself for profit? Post by: gollum on April 11, 2013, 12:51:59 AM Its not fair to blame them for that without any evidence. But we can all agree that MtGox cannot be both a broker AND an exchange.
It is time for the bitcoin community to build a p2p decentralized exchange that cannot be DDOSed! Playing Devil's Advocate here but wondered why MtGox wouldn't attack it's own servers to manipulate price, they have more than enough funds to buy up large stock as the price plummets. Very little was put in place to increase prevention of a DDoS attack last week, you have to wonder. Blame it on a "strategic hacker group". Want to preserve what is left of your credibility MtGox? Get some hardware in place without delay, seeing as it was such an "incredible week for you" (in your own words). Bring on the growth and birth of other exchanges. Title: Re: Mtgox attacks itself for profit? Post by: BitBuster on April 11, 2013, 12:55:20 AM Yeah, Mt. Gox definitely caused the scare itself so that everyone would bitch about it, look for and move to alternatives, as well as gain itself widespread negative press coverage. ::)
The attacks are happening because the rewards are great enough to justify the risk of carrying them out. In truth, I think only a small amount of the lag was down to the culprits. Only a short, sharp shock of decline seems to be enough to panic the majority of the community into selling for no good reason - in itself perpetuating a much greater denial of service. If the value is tanking, its already too late to sell. So next time, if everyone were to just calm down and ride it out, the culprits wouldn't be able to make so much profit. BB. Title: Re: Mtgox attacks itself for profit? Post by: whitetoo on April 11, 2013, 01:04:44 AM There's no stopping the panic sellers (they need a good slap).
As MtGox has the monopoly at the moment, IF it did purposely push the rate in the wrong direction, how many traders are waiting to jump straight back on the horse? *Just another ddos* are you sure? Likewise there is no proof to say otherwise. Another string to MtGox's bow. If confidence is lost amongst traders, this exchange will need to take positive action. Again, not agreeing or disagreeing purely raising the idea of possibility. Title: Re: Mtgox attacks itself for profit? Post by: repentance on April 11, 2013, 01:07:40 AM The answer is exchanges which are purpose designed for large volume, high frequency trading and which have minimum trade limits.
MtGox fixing these problems only ensures that they remain a point of centralisation. Title: Re: Mtgox attacks itself for profit? Post by: gollum on April 11, 2013, 01:19:27 AM The best solution for the decentrlized bitcoin is to have a decentralized exchange and many brokers so we dont get to dependent on just one broker.
The answer is exchanges which are purpose designed for large volume, high frequency trading and which have minimum trade limits. MtGox fixing these problems only ensures that they remain a point of centralisation. Title: Re: Mtgox attacks itself for profit? Post by: BitBuster on April 11, 2013, 01:21:17 AM *Just another ddos* are you sure? Indeed you are correct, it was not a DDOS. This was entirely caused by blind panic! :PBB, |