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I wonder, whether I am the only one who considers it disturbing that Kraken's two-factor authentication, e.g. for withdrawing funds, can easily be by-passed by simply changing the authentication method. For example, despite having Yubikey enabled for withdrawing funds, it is possible to withdraw funds without possessing the Yubikey (and without knowing the Master key) as follows:
1. Go to Security/Two-Factor Authentication
2. Click on the "Edit/View details" link for Funding
3. Change Method to Password
4. Set a new password (no Yubikey and no master key is required!)
5. Go to Funding/Withdraw
6. Add a new address and withdraw funds to it using the newly set password
So, anyone who is able to log in to a Kraken account or catches a browser with an open Kraken session is able to deplete this account.
I reported this vulnerability to Kraken more than two weeks ago. According to Kraken, this behaviour is intended and can be suppressed by going to Settings/Account and enabling "Global Settings Lock". However, I wonder who is aware of the fact that, without this "Global Settings Lock", the two-factor authentication is completely ineffective.
I just heard that some Kraken accounts were compromised a week ago. So, I take this opportunity to bring up the issue above (for the third time!), because it is still not addressed. |
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What is the reason for fiat currencies, such as CAD or GBP, not being eligible as collateral?
Offering these as collateral creates conversion issues into other currencies that we cannot accommodate at the present time. You could simply use a fix conversion rate with a huge safety buffer. For example, assign 1 GBP the same collateral power as 1 USD. Should 1 GBP approach the value of 1 USD in the future you may manually further decrease the collateral power. Right now, it is pretty dangerous to sell BTC for, e.g., GBP when there are open positions because such a trade may result in an immediate margin call (since the decrease in BTC decreases the collateral and the increase in GBP doesn't compensate that). |
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What is the reason for fiat currencies, such as CAD or GBP, not being eligible as collateral?
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Did the blockchain fork after the hard fork? My transfer of 9.9 ANC from AMXraoVxaBvkiwWHbYRkQW7nmo6vHNHBrQ to ASoVC4BfzXKvuCp96ckq41QsxnWLh3gxnx has a lot of confirmations, but it doesn't show up in the explorer http://abe.darkgamex.ch:2751/chain/Anoncoin |
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Man, great job wrecking the price Cryptopia  I agree they're a decent exchange in general. I like the stand they took on ETH, but I am still shaded the fuck out by EDRcoin. Hopefully they get this sorted shortly and I can grab a few more before price recovers. Look, if the EDRC guys want to give us fees for trading among themselves then I dont care, they are doing it on multiple exchanges, and personally I don't really care, and normal trader can see its not real volume. If we started blocking coin devs from pumping there own coins we would have no users. As for us being "Crypsty" for having compile issues with ANC due to it contacting untrusted sites during compile time which is impossible with our wallet server security, then so be it, plenty of other sites to trade ANC without us "verning" you guys. Spend all week trying to do something for the ANC community, then just get shit on for it, just another day in crypto. Poor guys, (supposedly) soaking up hundreds of dollars in fees from EDRcoin scammers everyday, and still having to put up with shit from uppity shitcoin holders  I wouldn't say that I'm ANC community, I just have a few hundred coins on your exchange. I'm glad you guys got cryptonote integration working, and like I said, I'm glad you dumped ETH, but cmon, if you can't compile a wallet for a week and you can't deal with a little (mostly) good natured ribbing on shitcointalk, maybe you're in the wrong business... I think the fact that Cryptopia doesn't simply compile untrusted code rather makes them different from Cryptsy. Wasn't it malicious code injected by some coin (lucky7coin or so) that brought Cryptsy down in the first place..? |
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Why cannot the DAO developers move the rest of the tokens to an account and freeze that? That will prevent further attack.
I happen to have two proposals running. Their 7 days periods will be over on Monday and Tuesday. If those proposals can be used for a white hat attack in order to save funds I'd be happy to provide them (for a small fee). |
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Does anybody know why the ETH draining from the DAO stopped at approximately 7.9M ETH?
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Hm, no reply for two days.. ?
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Hi, I'm considering investing in Etheroll. Could you please answer the following questions:
1. Profits are distributed each 12 weeks. If a loss occurs in a 12 week period (due to lucky players), this loss is not compensated. So, will the bankroll shrink over time?
2. You mentioned that also sports betting might be implemented. How do you ensure the 1% house edge with this kind of gambling?
3. It is possible to divest 4 times 25%. Do these 25% refer to the initial investment or to the bankroll (which would be 80% of the initial investment)?
4. I wonder how you ensure that the random number generation is not exploited. Is it not possible for the miner to request another random number from random.org if the first one is unfavorable?
Hi HPt, Thank you for your interest and feedback. To answer your questions; 1) Token holders are able to return their tokens to etheroll in return for ETH. This means etheroll can sell the returned tokens again onto the market, allowing the bankroll to be lifted again in the case of a bad run. Overall, the expected value should return 1% to the house bankroll, but yes, there will be big variances. 2) Sports betting and any other games would have a house edge particular to those games/bets. The 1% house edge is only for our first game, the dice game. 3) Yes, it is possible to divest 4 times 25%. The divestment available to token holders relates to the 80% sent to the bankroll. When a token holder divests, they are returned their proportional share of the bankroll*.25 4) It is impossible for miners to have control over our RNG as it is generated off chain. We spent a lot of time considering and ensuring this was not open to an attack vector by miners. Hopefully that answers your questions, if you have any other questions, concerns or comments please let me know and I will gladly try to answer them all. Thanks, James Thanks for your answers! 1) Actually my question 1) didn't aim at divesting. I was talking about the regular 12 week distribution of profits. This distribution hinders the bankroll to grow. But there's also the (small) possibility that there's a loss after 12 weeks (due to lucky players, not due to divesting). In this case the bankroll would shrink. So, if the bankroll can shrink but cannot grow, is it doomed to shrink over time? (Example: Let's say, the bankroll initially has 10000 ETH. After 12 weeks it has 11000 ETH. 1000 ETH are distributed and the bankroll ist back to 10000 ETH. 12 weeks later the bankroll has 9500 ETH. That is, no win and no distribution, but also no refill. 12 weeks later the bankrall has 9800 ETH. 300 ETH are distributed and bankroll is back to 9500 ETH. etc.) 2) What I actually want to know is: How do you ensure that the house has an edge with sports betting in the fist place (let it be 1% or 5% or whatever)? Since (other than with the dice game) you don't know the probabilities how can you make sure that the house has an edge? 4) How do you unambigously assign a specific random number to a specific game? Let's say at 2016/06/14 12:39:15 the block 1702168 was mined. In this block someone gambled. Which random number belongs to that game. Is it, e.g., the first random number generated by random.org after 2016/06/14 12:39:15? 5) In your answer to my first question you mentioned that returned tokens are not destroyed but can be sold again. To which price are they sold again (and to whom)? Oh i see, sorry, let me explain further. 1) Lets say the bankroll is created and has a total of 10000ETH. After 12 weeks it has 11000 ETH. 1000 ETH are distributed and the bankroll ist back to 10000 ETH. 12 weeks later the bankroll has 9500 ETH. That is, no win and no distribution, but also no refill. 12 weeks later the bankrall has 9800 ETH. 300 ETH are not distributed. There is only a distribution at > 10000ETH. 2) Sports betting (for the moment) is probably the lowest on our priority list. However, we would probably do something like so; at the time of paying winners we would pay them -x% of their winnings. Ensuring the house always realises a gain. I want to make this clear. Sports betting is something that is on the back burner for now. We are more interested in dice games, card games, roulette. However, sports betting seems like a nice fit as well. In all honesty, we would not be looking to implement sports betting until we have roulette, dice-game variations, baccarat complete. 4) Our dice game is like a roulette wheel. All players are playing against the same result. Only 1 result is returned for all players in that round. Once that results is returned, a new round begins. Our betting rounds will complete within 5 seconds towards the end of the year with the Serenity release of Ethereum and 1 second block times, allowing us to handle 100s of thousands of bets per day. 4) When a token holder returns their tokens to etheroll, they are essentially being refunded their initial investment (80%), as 20% is used by etheroll to fund continued development, marketing and so-forth. Does this clear things up for you? Let me know, happy to discuss. Cheers, James Thanks again, for your answers. 1) Ok, so the bankroll can neither shrink nor grow in the long term. But wouldn't it be nice, to allow the bankroll to grow? The larger the bankroll the larger the maximum possible win. And the maximum possible win is an attraction factor. So, wouldn't it be a good idea to allow to reinvest the distributions by making them optional? 2) Let's regard an example: There's a soccer game, let's say Germany vs. France. Someone wants to bet 10 ETH with ehteroll that Germany wins. What would he get if Germany wins? 4) Again, lets regard an example. Someone plays roulette in round 12345. In order to determine whether or not he wins, you need a random number. This number stems from random.org. But random.org continuously produces random numbers. Which of these numbers is the number that determines the result of round 12345. 5) Again, let's regard an example: The bankroll is 10000 ETH and there are 9000 Tokens out there. An investor divests 100 Tokens. Therefore he receives 111 ETH. In return the etheroll smart contract now has 9889 ETH and 100 tokens. You said that these 100 tokens can be sold again. Let's further assume, after some time the bankroll is 11000 ETH and the 100 tokens are still for sale. Am I eligible to buy them? If so, how much would I have to pay for these 100 tokens? |
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Hi, I'm considering investing in Etheroll. Could you please answer the following questions:
1. Profits are distributed each 12 weeks. If a loss occurs in a 12 week period (due to lucky players), this loss is not compensated. So, will the bankroll shrink over time?
2. You mentioned that also sports betting might be implemented. How do you ensure the 1% house edge with this kind of gambling?
3. It is possible to divest 4 times 25%. Do these 25% refer to the initial investment or to the bankroll (which would be 80% of the initial investment)?
4. I wonder how you ensure that the random number generation is not exploited. Is it not possible for the miner to request another random number from random.org if the first one is unfavorable?
Hi HPt, Thank you for your interest and feedback. To answer your questions; 1) Token holders are able to return their tokens to etheroll in return for ETH. This means etheroll can sell the returned tokens again onto the market, allowing the bankroll to be lifted again in the case of a bad run. Overall, the expected value should return 1% to the house bankroll, but yes, there will be big variances. 2) Sports betting and any other games would have a house edge particular to those games/bets. The 1% house edge is only for our first game, the dice game. 3) Yes, it is possible to divest 4 times 25%. The divestment available to token holders relates to the 80% sent to the bankroll. When a token holder divests, they are returned their proportional share of the bankroll*.25 4) It is impossible for miners to have control over our RNG as it is generated off chain. We spent a lot of time considering and ensuring this was not open to an attack vector by miners. Hopefully that answers your questions, if you have any other questions, concerns or comments please let me know and I will gladly try to answer them all. Thanks, James Thanks for your answers! 1) Actually my question 1) didn't aim at divesting. I was talking about the regular 12 week distribution of profits. This distribution hinders the bankroll to grow. But there's also the (small) possibility that there's a loss after 12 weeks (due to lucky players, not due to divesting). In this case the bankroll would shrink. So, if the bankroll can shrink but cannot grow, is it doomed to shrink over time? (Example: Let's say, the bankroll initially has 10000 ETH. After 12 weeks it has 11000 ETH. 1000 ETH are distributed and the bankroll ist back to 10000 ETH. 12 weeks later the bankroll has 9500 ETH. That is, no win and no distribution, but also no refill. 12 weeks later the bankrall has 9800 ETH. 300 ETH are distributed and bankroll is back to 9500 ETH. etc.) 2) What I actually want to know is: How do you ensure that the house has an edge with sports betting in the fist place (let it be 1% or 5% or whatever)? Since (other than with the dice game) you don't know the probabilities how can you make sure that the house has an edge? 4) How do you unambigously assign a specific random number to a specific game? Let's say at 2016/06/14 12:39:15 the block 1702168 was mined. In this block someone gambled. Which random number belongs to that game. Is it, e.g., the first random number generated by random.org after 2016/06/14 12:39:15? 5) In your answer to my first question you mentioned that returned tokens are not destroyed but can be sold again. To which price are they sold again (and to whom)? |
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Hi, I'm considering investing in Etheroll. Could you please answer the following questions:
1. Profits are distributed each 12 weeks. If a loss occurs in a 12 week period (due to lucky players), this loss is not compensated. So, will the bankroll shrink over time?
2. You mentioned that also sports betting might be implemented. How do you ensure the 1% house edge with this kind of gambling?
3. It is possible to divest 4 times 25%. Do these 25% refer to the initial investment or to the bankroll (which would be 80% of the initial investment)?
4. I wonder how you ensure that the random number generation is not exploited. Is it not possible for the miner to request another random number from random.org if the first one is unfavorable?
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Hi, I have a problem with the ethereum wallet (I tried 0.7.4, 0.7.3 and 0.6.2). When I go to "The DAO" contract and click on the "Pick a Function" dropdown, there are only the two items "Create Token Proxy" and "Vote". Shouldn't there be much more items (such as "New Proposal" or "Split DAO")?
Is this, how it should look like (Ethereum-Wallet-win64-0-7-4)? Where is, e.g., the "New Proposal" item?  Hmm, still no answer. Seems this thread has an excess of pumpers and a lack of experts.. :-( |
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Hi, I have a problem with the ethereum wallet (I tried 0.7.4, 0.7.3 and 0.6.2). When I go to "The DAO" contract and click on the "Pick a Function" dropdown, there are only the two items "Create Token Proxy" and "Vote". Shouldn't there be much more items (such as "New Proposal" or "Split DAO")?
Is this, how it should look like (Ethereum-Wallet-win64-0-7-4)? Where is, e.g., the "New Proposal" item? |
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Hi, I have a problem with the ethereum wallet (I tried 0.7.4, 0.7.3 and 0.6.2). When I go to "The DAO" contract and click on the "Pick a Function" dropdown, there are only the two items "Create Token Proxy" and "Vote". Shouldn't there be much more items (such as "New Proposal" or "Split DAO")?
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Assume you have a BTCEUR short position of 10 BTC. That means you actually borrowed 10 BTC from Kraken in order to sell it for EUR.
Now you decide you want to give back the 10 BTC to Kraken (say from your cold wallet) and keep the EUR for good. What you have to do in this case: You deposit 10 BTC and settle the position. Without settling you would have to close the position and then sell the deposited 10 BTC on the market. The latter method would imply two unnecessary trades involving a lot of friction (fees, spread, effects of limited order book depth).
So, it's actually really nice from Kraken to spare you this hassle and provide the settle feature even for free.
Appreciate the explanation. Only started using Kraken yesterday for the first time, but I definitely need to eat more weetabix today, cos i still dont why i would want to settle the borrowed funds, but still keep the position open. What scenario would that be an advantage to me? And when i 'close', i dont experience any of that friction/hops you mention, and with no additional fees, from what i can make out. Cheers From what you wrote, I think there are some misconceptions: 1. When you settle a position, then this position is not open any more. 2. When you close a position then this closing involves a trade. (If you close a 10 BTCEUR short position, then you actually buy 10 BTC at market.) |
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Assume you have a BTCEUR short position of 10 BTC. That means you actually borrowed 10 BTC from Kraken in order to sell it for EUR.
Now you decide you want to give back the 10 BTC to Kraken (say from your cold wallet) and keep the EUR for good. What you have to do in this case: You deposit 10 BTC and settle the position. Without settling you would have to close the position and then sell the deposited 10 BTC on the market. The latter method would imply two unnecessary trades involving a lot of friction (fees, spread, effects of limited order book depth).
So, it's actually really nice from Kraken to spare you this hassle and provide the settle feature even for free.
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At some future point of time ETH will make the transition from POW to POS. (By the way, does anybody roughly know when this transition will take place?) After this transition, ETH will yield some kind of "interest". Will the ether coins that are bound in DAO tokens also yield interest?
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I would like to report the following bug (or nasty behaviour):
Kraken allows (without even warning) to sell the collateral that is needed to maintain an existing position. For example, assume there is an ETHBTC long position backed by a margin of 1000€ and now these 1000€ are sold for more ETH. Kraken doesn't decline or even warn, but instead executes this trade which immediately results in a margin liquidation since the bought ETH don't qualify as collateral (because, at Kraken, ETH is not a margin currency).
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Why does https://status.kraken.com state that everything is operational despite the fact that the Kraken website and API are down for more than half an hour? |
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