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Economy => Service Discussion => Topic started by: pirsquared on July 07, 2014, 07:48:22 PM



Title: CampBx down since July 3, 2014- Now up - account holders are locked out
Post by: pirsquared on July 07, 2014, 07:48:22 PM
I'm a long time user of Campbx and have a few folks under me as affiliates. I have never had a single issue with Campbx until the recent holiday (US only) weekend. They announced a D-Dos attack that was resolved on Thursday July 3, 2014 at 4:00pm per their twitter and facebook pages. The site was up and then back down again within minutes. It being a holiday weekend, and them being in the US; I relaxed and enjoyed my holiday.

It is nearly 4:00pm on Monday July 7, 2014 and not another word from Campbx. I've read about troubles with Campbx in the past, but I have literally had none of them. KYC'd in record time. Withdrawals processed immediately (btc), and a reasonable amount of time elapsed for fiat withdrawal (days with money order). I get cheaper fiat withdrawal fees and lower trading fees than standard users. All in all, I have been very pleased given the current, sometimes sketchy, nature of exchanges.

D-Dos attacks - or claims of them - have preceded exchange failures before. I don't have a lot of coin on Campbx, but I'd like to know if and when this will be sorted. Does anyone have any information? Four days is a while to be down in a 24/365 market.

EDIT: Campbx is back up, but many users are unable to withdraw BTC. One, at least, had trades reversed. I think they are trying to get this sorted. Still many users, including me, are unable to login to their accounts.


Title: Re: CampBx down since July 3, 2014
Post by: pirsquared on July 07, 2014, 10:29:12 PM
Just wanted to update this thread despite the lack of apparent interest.

I attempted to login once the site came back online. My credentials are known only by me and no one knows my passwords to anything. I was unable to login at https://campbx.com/ using my credentials. The "little eye thingy" that allows you click and view your password is absent from the site. There are a few other minor discrepancies that only regular users would notice.

Please avoid loging in to campbx until we hear something from the site admins via twitter or facebook.

EDIT: Fuck that! Do not attempt to login unless you want to lose your balance. Wait. If you are a concerned customer; post in this thread.


Title: Re: CampBx down since July 3, 2014
Post by: LeChatNoir on July 07, 2014, 11:06:50 PM
I see my account has been closed over there and i have no idea why they did that since my behavior has always been good with them in the past months. I had a liquidity provider bot running on their exchange and more then 27K $ deposited. I just found out other people had serious issues with them in the past so this looks very fishy and i seriously think they're running a scheme over there.

I STRONGLY SUGGEST YOU TO NOT DEPOSIT FUNDS ON CAMPBX UNTIL THEY GIVE US SOME EXPLANATIONS.

I contacted their support and will update as soon as they answer me.


Title: Re: CampBx down since July 3, 2014
Post by: hodlmybtc on July 07, 2014, 11:11:36 PM
It's probably since this happened yesterday:

https://ip.bitcointalk.org/?u=http%3A%2F%2Fi.imgur.com%2FFwqhPjp.png%26t%3D541%26c%3DkcU2YwDX98v5iQ&t=541&c=kIpj1WRRnCrFQw


Title: Re: CampBx down since July 3, 2014
Post by: Bit_Happy on July 07, 2014, 11:19:39 PM

A new all-time record high for BTC!
That is an epic buying spree.  :)

Seriously, I wonder what could cause that...Hackers maybe, but exactly what happened...?


Title: Re: CampBx down since July 3, 2014
Post by: LeChatNoir on July 07, 2014, 11:22:03 PM
I think they got hacked too but i don't get why they started to lock random customers account without providing a good explanation.


Title: Re: CampBx down since July 3, 2014
Post by: pirsquared on July 07, 2014, 11:24:08 PM
I attempted loading the page mulitple times over the holiday weekend to no avail. The activity shown in the chart is a little...um...goxxish considering no one I know was able to login either. We start making a little noise, and we get a twitter and facebook update announcing another fix a few minutes later.

The "little eye thingy" is back up on the page (the thing you click to see if you typed the correct password. It was not available only an hour or so ago.

"Create Ticket" results in a bad certificate with the following error: The certificate is only valid for the following names: *.kayako.com , kayako.com (Error code: ssl_error_bad_cert_domain) (https://support.campbx.com/Tickets/Submit)

Three possibilities exist in my mind:

1) Hack and site hijack with subsequent twitter and facebook hijacks.
2) D-Dos and loss of data preventing valid login
3) MK goxxing type shit

Please govern yourselves accordingly.


Title: Re: CampBx down since July 3, 2014
Post by: pirsquared on July 07, 2014, 11:33:08 PM
I think they got hacked too but i don't get why they started to lock random customers account without providing a good explanation.

I'm fine with being locked out for my own protection. I still have one login attempt remaining before the site is supposed to lock me out. In fact, I'd rather ALL KYC'd (high value accounts) be locked and the site taken down until this is sorted.

I've seen this sort of thing before with sites being hijacked. It is not like a normal phishing attempt. I took the risk and entered my credentials. I risked some BTC by doing this I guess. I hope no one takes a big hit.

I officially hate all exchanges. It is impossible to ever feel confident about any BTC or fiat that they hold for any amount of time. Against my better judgement I left my last purchase on campbx (I usually buy and move it cold immediately). Live and learn.

I'm not giving up hope - it's early, they are US based, it was a US holiday weekend, they have been unaffected by past issues that were unique to individual exchanges. I'm still getting drunk and high, kicking my dog, and beating my wife with the expectation of total loss.


Title: Re: CampBx down since July 3, 2014
Post by: Bit_Happy on July 07, 2014, 11:34:46 PM
....
"Create Ticket" results in a bad certificate with the following error: The certificate is only valid for the following names: *.kayako.com , kayako.com (Error code: ssl_error_bad_cert_domain) (https://support.campbx.com/Tickets/Submit)
....

I think this link "https://support.campbx.com/Tickets/Submit" calls for the "outsourced" support tickets at kayako.com.
The SSL config needs to be fixed, but that error (alone) is not evidence of a serious hack.


Title: Re: CampBx down since July 3, 2014
Post by: st4nl3y on July 07, 2014, 11:34:53 PM
CampBx may have been hacked. Same attack was concluded on bitcurex in march I think.


https://i.imgur.com/osT2gRb.jpg


Bitcoin was trading around 2000 and then suddenly spiked to 5000 and you could see BIG trades happening. All I know it was some russian hackers



Title: Re: CampBx down since July 3, 2014
Post by: pirsquared on July 07, 2014, 11:41:51 PM
....
"Create Ticket" results in a bad certificate with the following error: The certificate is only valid for the following names: *.kayako.com , kayako.com (Error code: ssl_error_bad_cert_domain) (https://support.campbx.com/Tickets/Submit)
....

I think this link "https://support.campbx.com/Tickets/Submit" calls for the "outsourced" support tickets at kayako.com.
The SSL config needs to be fixed, but that error (alone) is not evidence of a serious hack.


Thank you for clarifying. That eases my mind a little bit. I've never had to open a ticket with campbx. It has been smooth sailing to this point. The whole scenario seems like something we've all seen before...a few times now.

Still, there are no less than three KYC'd users with BTC/fiat balances totalling over $35,000 USD equivalent that are unable to login after the site relaunched/got back up. Do you think this could be due to SQL dataloss, failure for subdomains to propagate, or something else. Seems fishy.


Title: Re: CampBx down since July 3, 2014
Post by: jjc326 on July 07, 2014, 11:48:25 PM
I'd had issues with CampBx for like 6 months.  They are garbage.  Tried to withdraw and they wouldn't communicate with me and I know numerous others with the same issues.  If you had paid any attention to the hundreds of complaints you would've known to pull your BTC and fiat out.


Title: Re: CampBx down since July 3, 2014
Post by: pirsquared on July 07, 2014, 11:48:48 PM
CampBx may have been hacked. Same attack was concluded on bitcurex in march I think.


https://i.imgur.com/osT2gRb.jpg


Bitcoin was trading around 2000 and then suddenly spiked to 5000 and you could see BIG trades happening. All I know it was some russian hackers



I'm beginning to think that was practice for something bigger - not that bx is big. If you think about it, fiat exists on exchanges only in a database (SQL usually). Most exchanges secure their wallets pretty well as best I can tell. Fiat, on the other hand, moves only in the database (not on the blockchain).

Should a hacker be successful, moving fiat would be easier than moving bitcoin. The hacker then buys up the board with stolen fiat without regard for the price. It is stolen money afterall. I'm hoping my coin is safe. I don't usually carry a fiat balance for more than a few minutes and haven't on campbx for a month or so.


Title: Re: CampBx down since July 3, 2014
Post by: pirsquared on July 07, 2014, 11:54:09 PM
I'd had issues with CampBx for like 6 months.  They are garbage.  Tried to withdraw and they wouldn't communicate with me and I know numerous others with the same issues.  If you had paid any attention to the hundreds of complaints you would've known to pull your BTC and fiat out.

I understand your admonishment. I usually do buy and pull no matter which exchange I use. I have never had a problem with campbx until the most recent supposed D-Dos attack. I knew better. I know better.

You are preaching to a choir member that got off pitch. If you aren't the sole holder of your private keys, then you don't have any BTC. No go pour salt on someone else's wounds if that's what lights your fancy.


Title: Re: CampBx down since July 3, 2014
Post by: Remember remember the 5th of November on July 07, 2014, 11:57:06 PM
In light of this, I received an email from CampBX(somehow), but it was in my SPAM folder in my Gmail account. Coincidence? Phishing?


Title: Re: CampBx down since July 3, 2014
Post by: AmDD on July 08, 2014, 12:10:26 AM
Their facebook was updated 2 hours ago saying they were seeing a DDoS as of 11:30AM


Title: Re: CampBx down since July 3, 2014
Post by: pirsquared on July 08, 2014, 12:20:53 AM
In light of this, I received an email from CampBX(somehow), but it was in my SPAM folder in my Gmail account. Coincidence? Phishing?

Check the header and get back with us please.

An admin from campbx (Keyur https://bitcointalk.org/index.php?action=profile;u=15102) responded to another member's post in the Service Discussion area of bitcointalk. It was suggested that he wait until 5pm tomorrow to see if his account was one of the accounts that were "marked". Whatever the hell marked means...



Title: Re: CampBx down since July 3, 2014
Post by: pirsquared on July 08, 2014, 12:24:01 AM
Their facebook was updated 2 hours ago saying they were seeing a DDoS as of 11:30AM

I'm aware. The site was down all weekend, and that facebook/twitter was silent until threads started popping up on the boards. The charts also show some stupid buying yesterday - when no one else could access the site except via the Cloudfare mirror. Remember remember the gox of November, and December, and January, and...and...and...


Title: Re: CampBx down since July 3, 2014
Post by: AmDD on July 08, 2014, 01:49:22 AM
Their facebook was updated 2 hours ago saying they were seeing a DDoS as of 11:30AM

I'm aware. The site was down all weekend, and that facebook/twitter was silent until threads started popping up on the boards. The charts also show some stupid buying yesterday - when no one else could access the site except via the Cloudfare mirror. Remember remember the gox of November, and December, and January, and...and...and...

Im not advocating one way or the other, just making sure this was seen. Hopefully they put out a real statement soon.


Title: Re: CampBx down since July 3, 2014
Post by: Mieehayii on July 08, 2014, 02:00:56 AM
Recently, many of bitcoin sites are down


Title: Re: CampBx down since July 3, 2014
Post by: pirsquared on July 08, 2014, 02:02:59 AM
Their facebook was updated 2 hours ago saying they were seeing a DDoS as of 11:30AM

I'm aware. The site was down all weekend, and that facebook/twitter was silent until threads started popping up on the boards. The charts also show some stupid buying yesterday - when no one else could access the site except via the Cloudfare mirror. Remember remember the gox of November, and December, and January, and...and...and...

Im not advocating one way or the other, just making sure this was seen. Hopefully they put out a real statement soon.

No worries mate. Campbx is so small. It is mainly amateurs, newbs, microbots, and a few market makers. I liked it for convenience and being US based - and never having a single issue to date.

Three (confirmed) locked out customers with KYC (over $1000 USD accounts) is a significant number on Campbx. It's rare to see a multi-coin buy on this exchange. I liked it. It was cozy and free of both sharks and whales. I also liked it because it is such a small target for hackers. None of the issues, other than the occasional D-Dos'ing, that affected other exchanges ever effected campbx in my experience.

Should this get worked out, I will retract every negative thing I have said about campbx. The only negative things I have typed were typed today.

I still want to hear from others that are affected.


Title: Re: CampBx down since July 3, 2014
Post by: jbreher on July 08, 2014, 06:36:09 AM
Hmm. I've used CampBX for some time, though I've not been active there for a quarter or two. Never had an issue there. I have some piddling assets thereupon. I may wait it out, hoping for more concrete info from the proprietors.


Title: Re: CampBx down since July 3, 2014
Post by: DooMAD on July 08, 2014, 09:35:49 AM
We still need to find a way to move away from centralised exchanges.  This sort of thing will continue to happen and will only worsen in time.   If the value of a bitcoin soars upwards, the incentive for people to break into exchanges will only be more tempting.  Exchanges weren't part of the design for all this.  We're doing it wrong.  And the resulting negative headlines will only hamper adoption.

Centralised exchanges are simultaneously one of the biggest weaknesses in our new digital economy and yet somehow also the biggest accelerators.  The flame to which all the moths are drawn.  It's almost paradoxical.  We need to do better.


Title: Re: CampBx down since July 3, 2014
Post by: Bronstad on July 08, 2014, 11:24:48 AM
FYI, I was able to withdraw 1.5 BTC successfully yesterday morning without issue.


Title: Re: CampBx down since July 3, 2014
Post by: pirsquared on July 08, 2014, 06:43:52 PM
Hmm. I've used CampBX for some time, though I've not been active there for a quarter or two. Never had an issue there. I have some piddling assets thereupon. I may wait it out, hoping for more concrete info from the proprietors.

Like I said, Campbx was the only exchange I have ever recommended to family and friends. I'll be attempting to login at 5pm EST per Keyur's advice to another member. I'm done making noise until then.


Title: Re: CampBx down since July 3, 2014
Post by: pirsquared on July 08, 2014, 06:46:25 PM
FYI, I was able to withdraw 1.5 BTC successfully yesterday morning without issue.

Good to hear. I was unable to login last night. Keyur advised another complainant to wait until 5pm EST today before sending a PM via bitcointalk.org. I will be doing this too if I am unable to login later today. Congrats on moving your coin.


Title: Re: CampBx down since July 3, 2014
Post by: pirsquared on July 08, 2014, 07:07:57 PM
We still need to find a way to move away from centralised exchanges.  This sort of thing will continue to happen and will only worsen in time.   If the value of a bitcoin soars upwards, the incentive for people to break into exchanges will only be more tempting.  Exchanges weren't part of the design for all this.  We're doing it wrong.  And the resulting negative headlines will only hamper adoption.

Centralised exchanges are simultaneously one of the biggest weaknesses in our new digital economy and yet somehow also the biggest accelerators.  The flame to which all the moths are drawn.  It's almost paradoxical.  We need to do better.

A few friends and I are tackling this in a c-rudimentary way. There is so much cynicism revolving around exchanges and services that store bitcoin and handle fiat. We can do better. We are going to roll out something we think will work that will allow people to exchange anything for bitcoin.

The real barrier for people is converting fiat to BTC and visa versa. There are only two irreversible ways that I know to send fiat: Cash/Money Order in the mail (Campbx uses money order for fiat withdrawal and deposit), and Western Union / MoneyGram type services.

WU and MG defeat the purpose of having BTC due to the expense and trouble involved performing the transaction. Most entry level adopters do not want to hold several thousand dollars in BTC. As a newb, I'd be hesitant to send cash to an unknown person without escrow. A quick glance at reddit and this forum shows most newbs want to buy $25 - $200 worth of BTC with something they are familiar (moneypak, WU, etc). Most experienced users will only accept cash in the mail or WU/MG for the irreversible BTC.

What features does a decentralized exchange have in your dreams? Peer to peer functionality is a no-brainer for those of us fed up with the current model.


Title: Re: CampBx down since July 3, 2014
Post by: pirsquared on July 08, 2014, 09:59:17 PM
UPDATE: Myself and two others with KYC'd accounts are still unable to login on Campbx.com. PM has been sent to Keyur and support ticket is now opened since the security certificate is fixed.

I would like to hear from others that are either locked out of their accounts or are indeed able to login.


Title: Re: CampBx down since July 3, 2014
Post by: LeChatNoir on July 08, 2014, 10:26:24 PM
Campbx has unlocked my account. All funds are there.

My latest sell orders (my bot sold some BTC above 650$ during the spike 3 days ago) have been reversed but i'm ok with that.

I cannot withdraw bitcoin at the moment because their cold wallet is under manteinance.

TY Campbx for your support i hope that other people with similar issue have been as lucky as me.


Title: Re: CampBx down since July 3, 2014
Post by: st4nl3y on July 08, 2014, 10:38:08 PM
Campbx has unlocked my account. All funds are there.

My latest sell orders (my bot sold some BTC above 650$ during the spike 3 days ago) have been reversed but i'm ok with that.

I cannot withdraw bitcoin at the moment because their cold wallet is under manteinance.

TY Campbx for your support i hope that other people with similar issue have been as lucky as me.

I really hope this is just a temporary CampBx glitch and your and everyone else funds get released soon, but the fact you can see the balance in your account doesn't prove anything. I can still see my balances in my mt.gox account.


Title: Re: CampBx down since July 3, 2014
Post by: pirsquared on July 08, 2014, 10:41:36 PM
Campbx has unlocked my account. All funds are there.

My latest sell orders (my bot sold some BTC above 650$ during the spike 3 days ago) have been reversed but i'm ok with that.

I cannot withdraw bitcoin at the moment because their cold wallet is under manteinance.

TY Campbx for your support i hope that other people with similar issue have been as lucky as me.

Thank you for the public update. I look forward to regaining access to my account too. Fortunately my own cold wallet doesn't need maintenance and most of my BTC are stuffed in a mattress. I'm still locked out and will wait as patiently as I can. Seems like this hack was a little bigger than the standard d-dos'ing.

I won't be happy until I have access to my account and my coins stored therein. I think Campbx is trying to do the right thing. However, I do not understand allowing trading while "cold wallet maintenance" is done.


Title: Re: CampBx down since July 3, 2014
Post by: pirsquared on July 08, 2014, 10:44:56 PM
Campbx has unlocked my account. All funds are there.

My latest sell orders (my bot sold some BTC above 650$ during the spike 3 days ago) have been reversed but i'm ok with that.

I cannot withdraw bitcoin at the moment because their cold wallet is under manteinance.

TY Campbx for your support i hope that other people with similar issue have been as lucky as me.

I really hope this is just a temporary CampBx glitch and your and everyone else funds get released soon, but the fact you can see the balance in your account doesn't prove anything. I can still see my balances in my mt.gox account.

<----------This, and they are still allowing trading. So LeChatNoir can use his fiat balance to buy BTC that he can't withdraw due to cold wallet maintenance. Looks like a gox, smells like a gox, walks like a gox, talks like a gox; I hope it's not a mini-goxxing underway.


Title: Re: CampBx down since July 3, 2014- Now up - account holders are locked out
Post by: CryptoCoinSauce on July 09, 2014, 03:03:56 AM
My account is unlocked and all funds, USD and BTC are accounted for. I sent 0.1 BTC to my wallet and it works. Seems to be all systems go at CBX - at least for my account.


Title: Re: CampBx down since July 3, 2014- Now up - account holders are locked out
Post by: The00Dustin on July 09, 2014, 09:53:39 AM
pirsquared, I appreciate your updates, most people want to complain and then disappear.  Gox had issues and then resolved them before they went down, so this isn't worth much, but I had an issue in November of last year with CampBX that was eventually resolved; here is my first post in an existing thread about the issue (https://bitcointalk.org/index.php?topic=342184.msg3675200#msg3675200).  If you want to review that thread, you will see several people with the same issues and my updates as I felt the urge to post or new information was forthcoming.  I agree that this isn't from a DDOS, and their charts clearly show data that is missing (presumably due to a hack and some reversals).  While there is no guarantee that I it will happen, I look forward to CampBX resolving this issue and you posting about the resolution and any additional information provided.  Hopefully it is much more timely than the resolution of the issue I experienced.


Title: Re: CampBx down since July 3, 2014- Now up - account holders are locked out
Post by: LeChatNoir on July 09, 2014, 03:15:24 PM
CampBX wallet is still under manteinance. I hope they will reactivate BTC withdrawals soon.


Title: Re: CampBx down since July 3, 2014- Now up - account holders are locked out
Post by: pirsquared on July 09, 2014, 05:05:29 PM
My account is unlocked and all funds, USD and BTC are accounted for. I sent 0.1 BTC to my wallet and it works. Seems to be all systems go at CBX - at least for my account.

This is encouraging.


Title: Re: CampBx down since July 3, 2014- Now up - account holders are locked out
Post by: pirsquared on July 09, 2014, 05:07:09 PM
pirsquared, I appreciate your updates, most people want to complain and then disappear.  Gox had issues and then resolved them before they went down, so this isn't worth much, but I had an issue in November of last year with CampBX that was eventually resolved; here is my first post in an existing thread about the issue (https://bitcointalk.org/index.php?topic=342184.msg3675200#msg3675200).  If you want to review that thread, you will see several people with the same issues and my updates as I felt the urge to post or new information was forthcoming.  I agree that this isn't from a DDOS, and their charts clearly show data that is missing (presumably due to a hack and some reversals).  While there is no guarantee that I it will happen, I look forward to CampBX resolving this issue and you posting about the resolution and any additional information provided.  Hopefully it is much more timely than the resolution of the issue I experienced.

Thank you for the acknowledgement. I happened upon that thread when I was searching for others with similar issues. I will post updates as they occur.


Title: Re: CampBx down since July 3, 2014- Now up - account holders are locked out
Post by: pirsquared on July 09, 2014, 05:20:45 PM
UPDATE:

I got an email last night from "Sonny V." It reads as follows:



Be careful! This sender failed our fraud detection checks.
Show content
 

Dear (real name redacted),
 We will get the correct status of your CampBX account (if there is any technical issue) from the concerned department and will get back to you shortly.


Thank you,
 CampBX Support

END

I'm guessing that the email warning was due to the kayako.com being the sending domain and the Campbx.com as the display domain. I am still unable to login to my account and thus unable to access the coins I have in the account. I see that some people are able to access their accounts AND withdraw bitcoin. I'm happy this is the case.

I can confirm that no less than five people are either locked out or can not withdraw BTC held at Campbx.com. Cold wallet maintenance should affect all users equally should it not? Why can LeChatNoir now login and see his balances (fiat and BTC), but is unable to withdraw any BTC due to "cold wallet maintenance?" Why can others login and withdraw BTC despite this supposed maintenance? Why can some of us still not login? There are more questions with each answer and bit of information that comes to light.

I PM'd Keyur @ Campbx (a fellow forum member), but have yet to get a reply. It would be nice if he would respond in kind to this thread like he did LeChatNoir's.


Title: Re: CampBx down since July 3, 2014
Post by: DooMAD on July 09, 2014, 05:57:09 PM
We still need to find a way to move away from centralised exchanges.  This sort of thing will continue to happen and will only worsen in time.   If the value of a bitcoin soars upwards, the incentive for people to break into exchanges will only be more tempting.  Exchanges weren't part of the design for all this.  We're doing it wrong.  And the resulting negative headlines will only hamper adoption.

Centralised exchanges are simultaneously one of the biggest weaknesses in our new digital economy and yet somehow also the biggest accelerators.  The flame to which all the moths are drawn.  It's almost paradoxical.  We need to do better.

A few friends and I are tackling this in a c-rudimentary way. There is so much cynicism revolving around exchanges and services that store bitcoin and handle fiat. We can do better. We are going to roll out something we think will work that will allow people to exchange anything for bitcoin.

The real barrier for people is converting fiat to BTC and visa versa. There are only two irreversible ways that I know to send fiat: Cash/Money Order in the mail (Campbx uses money order for fiat withdrawal and deposit), and Western Union / MoneyGram type services.

WU and MG defeat the purpose of having BTC due to the expense and trouble involved performing the transaction. Most entry level adopters do not want to hold several thousand dollars in BTC. As a newb, I'd be hesitant to send cash to an unknown person without escrow. A quick glance at reddit and this forum shows most newbs want to buy $25 - $200 worth of BTC with something they are familiar (moneypak, WU, etc). Most experienced users will only accept cash in the mail or WU/MG for the irreversible BTC.

What features does a decentralized exchange have in your dreams? Peer to peer functionality is a no-brainer for those of us fed up with the current model.
Exchanges seem to exist in a murky grey area where users aren't fully covered by the security of cryptography and the blockchain, but they're also not quite covered by fiat customer protection laws either.  Sadly I've got no idea how to get around the issues with fiat transactions, but I hope things reach the point where there are wallet clients that can be easily configured for any digital currency, rather than a separate client for each coin.  Instead of just the 'send', 'receive' and 'transactions history' tabs, there would also be 'buy' and 'sell' tabs.  Users would place orders from within their desktop client and everything would be fully cryptographically secured. 

I'm not a coder and have no idea how much work there is to accomplish before such a thing could happen, or even whether it's possible.  I'm guessing there would either have to be a dedicated 'trade blockchain' to record all the various trade transactions between coins, or some progress on the whole Sidechains/Treechains thing. 


Title: Re: CampBx down since July 3, 2014
Post by: pirsquared on July 09, 2014, 06:17:06 PM
We still need to find a way to move away from centralised exchanges.  This sort of thing will continue to happen and will only worsen in time.   If the value of a bitcoin soars upwards, the incentive for people to break into exchanges will only be more tempting.  Exchanges weren't part of the design for all this.  We're doing it wrong.  And the resulting negative headlines will only hamper adoption.

Centralised exchanges are simultaneously one of the biggest weaknesses in our new digital economy and yet somehow also the biggest accelerators.  The flame to which all the moths are drawn.  It's almost paradoxical.  We need to do better.

A few friends and I are tackling this in a c-rudimentary way. There is so much cynicism revolving around exchanges and services that store bitcoin and handle fiat. We can do better. We are going to roll out something we think will work that will allow people to exchange anything for bitcoin.

The real barrier for people is converting fiat to BTC and visa versa. There are only two irreversible ways that I know to send fiat: Cash/Money Order in the mail (Campbx uses money order for fiat withdrawal and deposit), and Western Union / MoneyGram type services.

WU and MG defeat the purpose of having BTC due to the expense and trouble involved performing the transaction. Most entry level adopters do not want to hold several thousand dollars in BTC. As a newb, I'd be hesitant to send cash to an unknown person without escrow. A quick glance at reddit and this forum shows most newbs want to buy $25 - $200 worth of BTC with something they are familiar (moneypak, WU, etc). Most experienced users will only accept cash in the mail or WU/MG for the irreversible BTC.

What features does a decentralized exchange have in your dreams? Peer to peer functionality is a no-brainer for those of us fed up with the current model.
Exchanges seem to exist in a murky grey area where users aren't fully covered by the security of cryptography and the blockchain, but they're also not quite covered by fiat customer protection laws either.  Sadly I've got no idea how to get around the issues with fiat transactions, but I hope things reach the point where there are wallet clients that can be easily configured for any digital currency, rather than a separate client for each coin.  Instead of just the 'send', 'receive' and 'transactions history' tabs, there would also be 'buy' and 'sell' tabs.  Users would place orders from within their desktop client and everything would be fully cryptographically secured. 

I'm not a coder and have no idea how much work there is to accomplish before such a thing could happen, or even whether it's possible.  I'm guessing there would either have to be a dedicated 'trade blockchain' to record all the various trade transactions between coins, or some progress on the whole Sidechains/Treechains thing. 

I'm not a coder either, but I know enough to be dangerous. I also know how to deploy tools that already exist in the open source market. The reason we don't have a decentralized exchange is a failure to realize how to monetize a trustless system (outside of trust for the bitcoin network or course). Right now we trust nameless people that we shouldn't with a currency that is backed by a network that needs no trust by way of proof of work. It's baffling really.


Title: Re: CampBx down since July 3, 2014- Now up - account holders are locked out
Post by: pirsquared on July 09, 2014, 08:44:01 PM
UPDATE: New shit has come to light.

I promised the member of this site to not disclose this "new shit." There is a reason that some people can withdraw BTC from Campbx.com and others get the "cold wallet maintenance" error.

It's really bad form for an exchange to allow a customer service rep use the pseudonym of Sonny V (see the Butterfly Labs debacle and testimony) to respond to customers with problems accessing their accounts. Given the goxing early this year when trading was allowed despite users not being able to withdraw BTC; it is VERY irresponsible for a reputable company to allow trading if the coin buyers can't withdraw their coins.

Understand that if you use an exchange (any exchange), you stand the risk of being a sheep led to slaughter.

https://www.youtube.com/watch?v=gbIv7W7rhx4

FWIW, I am still locked out of my account so I can't attempt the "new shit" solution.


Title: Re: CampBx down since July 3, 2014- Now up - account holders are locked out
Post by: pirsquared on July 09, 2014, 09:19:06 PM
UPDATE:

Did "Forgot Password" on main site and was able to gain access to my account. I can now put sell orders for my BTC on the board, but can NOT withdraw the bitcoin in the account. Error message reads: Cold wallet maintenance in progress. Please reattempt after 5 hours.

Many people have had this issue. A few have found ways around it which I will not discuss (new shit has come to light). I will continue to attempt to withdraw my coins and report back.


Title: Re: CampBx down since July 3, 2014- Now up - account holders are locked out
Post by: pirsquared on July 11, 2014, 05:57:40 PM
UPDATE:

I am now able to login to Campbx.com and was able to move coin off the exchange. I do not know if I will return to Campbx in the future. However, it is only fair to say that my issues have been resolved to my satisfaction.


Title: Re: CampBx down since July 3, 2014- Now up - account holders are locked out
Post by: Bit_Happy on July 11, 2014, 07:03:09 PM
I am glad you got your coins back.
Really sorry to see a USA based exchange having so much trouble.


Title: Re: CampBx down since July 3, 2014- Now up - account holders are locked out
Post by: st4nl3y on July 11, 2014, 07:09:53 PM
Also glad you and others can withdraw your coins. I wish all the best for CampBx


Title: Re: CampBx down since July 3, 2014- Now up - account holders are locked out
Post by: jjc326 on July 12, 2014, 02:27:37 AM
Glad you got your coins out. That is what I had to do eventually when I couldn't get any fiat out and I couldn't get a response from camp bx. I really don't know what their story is. They just don't seem to care about the business at all and if that's true they could take your BTC one day and that would be the end of your account.


Title: Re: CampBx down since July 3, 2014- Now up - account holders are locked out
Post by: pirsquared on July 12, 2014, 11:57:27 PM
Glad you got your coins out. That is what I had to do eventually when I couldn't get any fiat out and I couldn't get a response from camp bx. I really don't know what their story is. They just don't seem to care about the business at all and if that's true they could take your BTC one day and that would be the end of your account.

I think about third party services everyday and how to solve these problems. Think about the silk road vendors that were selling legal wares in their own jurisdictions that just had their coin auctioned off. If your exchange participates in money laundering or any other activity that the local government deems unsavory; innocent users may just get their BTC seized. Of course this is notwithstanding internal thefts and hacks that are pretty fucking commonplace.

I'm happy that it worked out well for me; but for every good ending there are several others that do not end as well. All in all, I am very pleased with my personal outcome. However, I am in the minority of people with satisfactory results amidst this type of activity.

FWIW, I never got a helpful response from Keyur or any other Bx employee. I worked it out myself. I know of a few people that had their API keys revoked trying to withdraw BTC from Bx. It is the wild west insofar as third party services are concerned and consumers should beware. One year ago, I hoped we would stop hearing about this BS. If we hope for greater adoption, increased value, and safe access; we must find a safer alternative than the ones that currently exist.