Tihan is right.. patrick/amir/donald should've changed the LastPass master password, if not created a whole new account (using a different e-mail, not info@bitcoinica.com which is a big red flag). Not to mention securing the MtGox account. Hell, zhoutong should've revoked those API keys that day long ago (he even said the hacker could've used them). [...] While the initial hacker had the ability to cause this breach it is likely that it was not taken advantage of until many users had access to the sourcecode in a recent leak: genjix:~/tmp/bitcoinica_legacy/config/initializers$ cat mtgox_credentials.rb
if Rails.env.production?
MtGox.configure do |config|
config.key = "c02e1a27-5524-449f-ba65-aff9581ddedc"
config.secret = '83U1ROG++O3vwBqFrxpcdyLIoChpgnowImy1oMVQwBLalaLevZDmWeCPJFTrYW00OQ7XUgG53LsIL2pBZ2PQgA=='
end
end Sourcecode download link: http://depositfiles.com/files/2p6zvadzs[...] Had anyone heard of this source code leak? This is the first time I'm hearing of it.. |
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I'm not surprised nobody has taken up your offer. To produce more BTC than it costs to purchase shares, somebody must be selling shares for less than they're worth (or there's some strategy analogous to pool-hopping).
Define "worth". What you would in BTC get by submitting the share to any mining pool. |
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Some people (Who? Pirate himself? SR? Jimmy Hoffa?) pay a premium for vanilla coins. That's the theory.
Thanks, I was missing this. Though I think some pools do their payouts as generated/virgin/vanilla coins, eligius pool for one. My question still stands. Can anyone shed some light on the GPUmax "marketplace" for me?
I have offered to explain this for 100BTC. While the exchange rates for BTC have risen, the in/out is still BTC-denominated. Without shenanigans or otherwise ethically dubious activity, GPUMax can be an effective tool for producing more BTC than it costs to purchase the shares. It depends on a number of factors, all of which should be obvious considering GPUMax's capabilities and working out from there. If you have a GPUMax account, look at the purchase options and think creatively. There is a small matter of luck involved (I have had my approach not work profitably three times), but proper analysis will inform activity that will always lead to a return on expenses. I believe most people employ faulty analysis and arrive at an unworkable model for its use. The rest of us keep our mouths shut because the wait on purchases is long enough already. I'm not surprised nobody has taken up your offer. To produce more BTC than it costs to purchase shares, somebody must be selling shares for less than they're worth (or there's some strategy analogous to pool-hopping). |
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Posting an update soon.
good news? If it's related to my previous email to the Bitcoinica team, no, it's a bad news. This was a pointless and malicious comment. Are you trying to further harm their reputation or your own? Because they're not entirely separate. No, I was merely stating a fact. I discovered something unusual and I emailed them. They promised an update. And that's it. I don't have the right to update you publicly because I have some advantage in obtaining insider information. I'm not part of the "bad news" and I'm not involved in Bitcoinica. If I didn't tell them they will discover the problem anyway. You must still be involved to some degree if you were able to discover "something unusual". And if you don't have the right to update publicly, then you shouldn't make public hints. It only thickens the fog of uncertainty and rumors surrounding your former company. Clearly, you only made that comment because you have an axe to grind. |
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If he is the market maker, then he is making alot of unnecessary efforts, because hes basically up against himself in such scenario, building walls, tearing them down only start anew, like a lonely kid in a sandbox building sand castles. I doubt it.
Maybe not that lonely. The new asks up to $8 could've been other's, and he took down 30k of the 40k bids in response. Whoever it is, he/they are certainly having fun. |
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Posting an update soon.
good news? If it's related to my previous email to the Bitcoinica team, no, it's a bad news. This was a pointless and malicious comment. Are you trying to further harm their reputation or your own? Because they're not entirely separate. |
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Okay, this is an honest question: How could GPUmax generate serious revenue?
"shares", or hashes to solve the next block, already have a price, denominated as a fraction of a block of 50BTC. That fraction of a bitcoin already has a price set on MtGox. Who would pay more for your shares than you would get by submitting them to a pool?
Good, question and i don't know the answer,. [..] My question still stands. Can anyone shed some light on the GPUmax "marketplace" for me? |
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Excellent work. Looks like it could be a potential slip-up of the thief. Now to make sure the exchanges are aware of the two extra addresses: Fri Jan 6 03:01:59 2012 10c0f04931b015c0d339a1510cfc23a12a6dcdbe fcee4be6c1fc527aaa2e9bdf1dd07f8119f9d0bd1bdeee78e04fdeb56fc6ce81 0.00000000 + 367.41137900 = 367.41137900
Sat Jan 7 01:31:48 2012 80ab5bcd943419b8988234e8e19b83389edc542a 92a05c0ae62d11a64f132976ab44cc9b1e127c189abda8948aecdb42abb4d101 367.41137900 + 298.61836200 = 666.02974100
What do you mean "two" ? nevermind, haven't had much sleep and was confused by gap in dates. still, it seems possible that the earliest ones could be the most revealing. there really should be a database for tagging addresses (as belonging to different exchanges, pools, services, etc.), or is there one i'm not aware of? |
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GG bears, GG
Yeah no kidding, although I wonder how the situation might look like if Bitcoinca was still around. A lot different. Good question and its tough to say, but if I had to I'd say that the bears would've been vaporized (bulls turn when the trend reverses). In any case, the world will never know.. |
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Where are the sell orders?
They are DEAD MAN all DEAD!!! They're selling USD now. |
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Excellent work. Looks like it could be a potential slip-up of the thief. Now to make sure the exchanges are aware of the two extra addresses: Fri Jan 6 03:01:59 2012 10c0f04931b015c0d339a1510cfc23a12a6dcdbe fcee4be6c1fc527aaa2e9bdf1dd07f8119f9d0bd1bdeee78e04fdeb56fc6ce81 0.00000000 + 367.41137900 = 367.41137900
Sat Jan 7 01:31:48 2012 80ab5bcd943419b8988234e8e19b83389edc542a 92a05c0ae62d11a64f132976ab44cc9b1e127c189abda8948aecdb42abb4d101 367.41137900 + 298.61836200 = 666.02974100
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if pirate is running a ponzi, and takes off, wouldn't that torpedo GPUmax, which looks like it could generate serious revenue once he opens it up to the public (exits beta) ?
Okay, this is an honest question: How could GPUmax generate serious revenue? "shares", or hashes to solve the next block, already have a price, denominated as a fraction of a block of 50BTC. That fraction of a bitcoin already has a price set on MtGox. Who would pay more for your shares than you would get by submitting them to a pool? Ah, yes GPUmax is also a ponzi, the 'ol ponzi double down, the 'ol ponzi2
blinking LEDs. |
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Well, If BFL ships ASIC, we can say they are legit. Until then we get to call them scammers?
No, you should claim that pirate is BFL's backer and that pirate's lenders' profits are from BFL's profits. |
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Butterfly Labs took pre-orders and everyone was rightly skeptical. Then they shipped (extraordinary evidence). Same for Bitcoin Magazine. Does BitInstant or Bit-Pay, or MtGox or Bitcoinica or Bitstamp offer returns to investors? [edit: i mean crazy returns to most any investor]. Hell, does Silk Road? No, because those are all businesses actually generating profit.
So when pirate returns everyone's principle and interest, we'll have our extra ordinary evidence. then yes, you would. |
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Put the ask back up! We're going too high too fast!!  |
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Oh man, who knew that all those companies issuing corporate bonds with no borrowers of their own were Ponzis?? This will be the next major financial scandal of the century! The entire fixed income market (way larger than the equity market!) is the largest Ponzi in history. Madoff should hang his head in shame.
With a corporate bond, the company itself is the borrower. And all the lenders (bond buyers) know the business of the company selling the bond. Apple might not release schematics and construction details of the iPad, but all their devices being sold in stores is evidence of actual profit generation. That's the extraordinary evidence which everyone can see. Of course, even with AAA ratings it turned out that all the mortgage-backed-securities was a just a network of ponzi paper (the largest in history). And companies selling shares on stock exchanges much more reputable than GLBSE turn out to be fraudulent. Look at the report on Huabao, China's largest flavor and fagrance company by Anon Analytics. Watch some episodes of American Greed, my favorite one is The Rise and Fall of CyberNet. The guy created fake invoices of big orders from Boeing, IBM, etc. to convince banks that he had their business. When the bankers came for a visit, he gave them a tour of his datacenter of server racks and blinking LEDs. It turned out the boxes were empty! No actual servers, just blinking LEDs. And with that the banks became his lenders. Most of the other episodes are much more mundane ponzi schemes ripping off far less sophisticated "investors". Fraud is so commonplace among people offering returns that its the rule. Not the exception. Butterfly Labs took pre-orders and everyone was rightly skeptical. Then they shipped (extraordinary evidence). Same for Bitcoin Magazine. Does BitInstant or Bit-Pay, or MtGox or Bitcoinica or Bitstamp offer returns to investors? [edit: i mean crazy returns to most any investor]. Hell, does Silk Road? No, because those are all businesses actually generating profit. |
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remember, the dam has already been breeched.
I think it can still be repaired. We need to avoid a flood. i agree. slow grinds are the best. I think that's the intention of the walls. Market-maker trying to keep things under control. |
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Why is it so hard for people to believe that loans can be made for 1% per day or even much higher ? www.wonga.com They say they 'only' charge 1% a day so 'only' 365% per year but the govt makes them display the APR (compounded interest); a whopping 4214% per year A company offering loans is totally different than someone asking for loans. Obviously, their profit is limited by the number of borrowers they can find (it doesn't scale with the amount of capital they have). Which is another sign that pirates a ponzi: there are lots of lenders but no borrowers. If there are no borrowers, nobody is paying the interest.. No *visible* borrowers. Absence of evidence is not evidence of absence. True, but extraordinary claims require extraordinary evidence. |
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Why is it so hard for people to believe that loans can be made for 1% per day or even much higher ? www.wonga.com They say they 'only' charge 1% a day so 'only' 365% per year but the govt makes them display the APR (compounded interest); a whopping 4214% per year A company offering loans is totally different than someone asking for loans. Obviously, their profit is limited by the number of borrowers they can find (it doesn't scale with the amount of capital they have). Which is another sign that pirates a ponzi: there are lots of lenders but no borrowers. If there are no borrowers, nobody is paying the interest.. |
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