if the Dow ends up, like it looks like it will, it seems to me that i've noticed small rallies beginning right after the close. Wall St. traders rotating to the Bitcoin markets?  no guarantees of course. |
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assuming that the hacker will "accept" a mere 1BTC. your reason for putting up 1000BTC to begin with implies that he wouldn't.
1000 USD (not BTC) was my suggestion for what to bait a hacker with on a database server in a place where it is clear it is bait. (in this case, you would watch both for the coins to be stolen, and for efforts made to prevent others from seeing the bait and redeeming it first). In such a case, the hacker has probably broken in via sql injection and he is more sophisticated and knows what he is doing and why he is there. 1 BTC is what I'd suggest against protection from automated malware on a typical home PC. i think its a good idea. i'm gonna send 1BTC to all my computers. |
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We lowered the spread temporarily because we had been in asterisk mode for a long time. Just recovered from that and we want some volume to heat up the market again.
ah. i was right again. the asterisk mode slows trading significantly making trading fees for Zhou slow down. thats ok, do what you want Zhou. its not a criticism. looking forward to you setting up your exchange. i think you could become the next Comex. |
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starting to bubble up boys!
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but that wouldn't work so well b/c you are trying to protect all 10 servers at the same time. once one server gets hacked, the protection on the other 9 gets stripped away leaving them exposed. this is assuming that the MW is looking to steal other data besides just BTC's.
The other nine servers will still have 1 BTC up for grabs, and you'll still know which server got hacked by seeing which of the ten 1BTC wallets got stolen. At that point, if you want to throw more BTC into known shark-infested waters to make sure all the servers have a treat, you can bet they will probably get eaten, and it won't tell you much more than you already know. Exposed is a misnomer - once the hacker is in, they're exposed whether the servers have BTC or not. But now you know you've been hacked, which is 95% of the battle. assuming that the hacker will "accept" a mere 1BTC. your reason for putting up 1000BTC to begin with implies that he wouldn't. |
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as long as the * is up, no one gets USD's   !!! That's not how it's supposed to work, is it? that IS how it works. the * on the ask price (BUY button) means all USD reserves have been depleted and used to buy Bitcoins on mtgox. |
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a workable Android version would be cool too.
when i open the browser version it won't let me enter prices.
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Is it possible to make a wallet that looks like it has money, but doesn't? That would allow you to have a really good bait (such as thousands of BTC) without any risk.
Yes, but it would serve no purpose. The event you're looking for is the theft of the money being published to the block chain, which you can't detect if you don't let happen. Now if you want to secure multiple machines, you could skimp a bit so that some of the bitcoins are shared across the machines. Suppose you have 10 servers and you want to put 1000 BTC bait on all ten, but still want to know which machine got stolen from if it it disappears. You could generate 10 wallets, send one BTC to each of them, and then import a single private key worth 999 BTC into all the wallets (the same key into each wallet). All of the wallets will appear to contain 1000 BTC, but 999 of it could only be stolen once, and then you would know which machine(s) got hit by looking at which wallet(s) had their 1 BTC stolen with it. but that wouldn't work so well b/c you are trying to protect all 10 servers at the same time. once one server gets hacked, the protection on the other 9 gets stripped away leaving them exposed. this is assuming that the MW is looking to steal other data besides just BTC's. |
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its almost like the carrot vs. stick approach. many ppl believe its easier to get ppl to do something by offering them something of value.
in this case i agree that most malware attackers would be more interested in getting whatever they can for the least amount of risk, ie, taking the btc's. i think the temptation would be too great. and as casascius said, most of this malware is automated anyways and won't discriminate.
as an aside, i think the obvious needs to be said: you can't store USD's on your computer to accomplish the same thing. they exist only in a bank, in physical form, or within a credit card # which really isn't the same thing.
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as long as the * is up, no one gets USD's |
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what happened to time & sales, bid/ask, etc?
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So I just got up. Have we still been * for the last 12 h
?
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the silence on the Spec Forum is deafening. most have been liquidated. the only ones left are the smart, mostly bigger players who withstood yesterdays whipsaws.
its too bad. as i've said many times before, the reason i started my blog and post so often is to try and help my fellow Bitcoiners understand how Bitcoin fits into the real world and to help them not get shaken out of their holdings by the sharks.
its happened anyway.
You almost saved my leveraged position... I dropped it just a few hours before the clear uptrend today. Oh well, I dropped it for a profit and I've at least converted that to BTC. I won't be rich, but hopefully I can pay down my student loans a little. Anyway, thanks for the blog, I check often. you sir are one of the few who weren't liquidated. well done. |
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thats really funny.
i've been subconsciously doing that all along. as we speak, i have about 16 BTC intentionally left on my laptop waiting for it to be stolen.
i just never thought about commercializing it. how many computers and servers exist in the world today?
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the silence on the Spec Forum is deafening. most have been liquidated. the only ones left are the smart, mostly bigger players who withstood yesterdays whipsaws.
its too bad. as i've said many times before, the reason i started my blog and post so often is to try and help my fellow Bitcoiners understand how Bitcoin fits into the real world and to help them not get shaken out of their holdings by the sharks.
its happened anyway.
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if Bitcoinica does indeed represent a baby version of the Comex or LBMA, look out!
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ZHOUTONGED!!  Damnit I had orders in @ $5.75. I think the whole idea of the site is kinda pointless if you can't leverage. May as well trade on Gox. but u dint go long ? That's what I thought too! theres only so much leverage to go around and most of the players who had it the last couple of days just coughed it over to the stronger hands with deeper margin accts who won't be giving it back. |
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i was about to make some flippant comment but i'm glad i took a moment longer to think about what you posted.
you're right. just look at the COMEX or LBMA in gold futures. the billions that flow through those exchanges alone each day are comparable to most currencies and really are just gambling sites on the price of gold/silver.
there's no economy there. just speculation on future price.
its quite conceivable that Bitcoinica represents a baby version of this.
Are you finally warming up to Bitcoinica? It certainly has some issues, but at least they are well known (in part thanks to you) and Zhoutong is very active on the forums. perhaps i am. i made a post in the proposed exchange thread that i think Zhou should set up an independent exchange. it would be good for the community i think. most of the issues i have with Bitcoinica have to do with the separation from mtgox and the price delays. its too easily gamed as i know firsthand. all that all goes away if he brings one in house. i have also observed how he is readily accessible and truly wants to help his customers and the community even tho the way it is structured now has hurt a lot of smaller traders. |
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oh my.
the USD is taking a dump tonite and the Dow futures, gold, silver, and oil just jumped.
UP we go.
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i was about to make some flippant comment but i'm glad i took a moment longer to think about what you posted.
you're right. just look at the COMEX or LBMA in gold futures. the billions that flow through those exchanges alone each day are comparable to most currencies and really are just gambling sites on the price of gold/silver.
there's no economy there. just speculation on future price.
its quite conceivable that Bitcoinica represents a baby version of this.
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