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A very big number i see there !! And this affected the price of almost all altcoins, including bitcoin and ethereum ! |
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You're welcome to use this as an excuse. I don't believe it's the reason. Korea is an irrelevant market in the first place. A Korean alt exchange is even less relevant. It was going to do this anyway.
I doubt that is the reason for bitcoin's price decrease. Especially when the hackers didn't steal any bitcoins from the exchange. They have managed to rob few tokens from the exchange, most notably the Punxi X tokens in significant volumes. However, it is most unlikely that bitcoin's price has been affected by this reason as they don't have any co-relation. But I am also not able to find any other probable reason for bitcoin to go down either. The situation is confusing.
And we are speaking about 40 millions of dollars are stolen ! Check https://coinmarketcap.com/ please, all altcoins including Bitcoin and ethereum decreased in price with up to 10% (Only red turn there today). You can see this with your own eyes, what is the reason behind this then ? |
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"It isn’t clear how, or indeed whether, Coinrail will go about compensating its customers" said on the article.
This should really took into consideration for coinrail users. Compensation is a must because this is clearly fault of the exchange itself.Ive been wondering how 3% of entire supply of NPX was on there.
No infos about that, but there will be a note in the TOS about this. In their website we can see this message: First of all, CoinRail cooperates with the investigating agency to protect your assets as much as possible and take all the necessary measures in order to minimize and recover the damage caused by hackers and criminals. At the same time, we will keep you updated on the homepage continuously. Here: https://coinrail.co.kr/ |
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this is just a small exchange and nothing much to worry about i really would not have thought 40M could reduce btc that much but still may contribute to this fall back
dont worry decentralised exchanges like blocknet and komodo are almost done
Yes decentralized exchangers like BarterDEX of Komodo will prevent and minimize this kind of news. This is quite unfortunate to the bitcoin community. But the exchanges should know better that hackers are not sleeping and should have up their security game. The chain effect of that singular action is massively affecting the market price almost 11%. This is unbelievable, though the next support level is close to the price.
I agree with your view ! to launch an exchange plateform security is first before anything else. And it's the same thing for any other project. |
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My advice is to use your coins offline and not in the same PC you use to do your stuff. But personally i suggest you AVG as anti-virus. But the best Anti-Virus remain YOU ! i suggest you to check for news about new security vulnerabilities, a good source for that: https://thehackernews.comAnd of course BitcoinTalk to check for new vulnerabilities about tools related to cryptocurrencies. And do not install random softwares . |
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You will get more answers from here: https://bitcointalk.org/index.php?board=4.0Supposing you get this result: Array ( [proof-of-work] => 6.2216203 [proof-of-stake] => 3.62663766 [search-interval] => 1 ) When you make: print_r($bitcoin->getdifficulty()); To display them separately: <?php
$difficulty = $bitcoin->getdifficulty();
// Show PoW
echo $difficulty["proof-of-work"];
// Show PoS
echo $difficulty["proof-of-stake"];
?> Learn basics of Arrays from here: http://php.net/manual/en/language.types.array.php |
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Another day, another crypto hack. This time it’s Korea, the crypto-mad Asian country, where an exchange called Coinrail lost more than $40 million in altcoins, ICO-issued tokens that aren’t bitcoin or Ethereum, after it was hit by an apparent attack over the weekend. Korea may be a hot spot for crypto investment, but Coinrail is one of its smaller exchanges, just about ranking inside the world’s top 90 based on trading volume, according to coinmarketcap.com. Nonetheless, even the smaller exchanges have plenty of coins, as the size of this heist illustrates. Most notably, the hackers got away with $19.5 million-worth of NPXS tokens that were issued by payment project Pundi X’s ICO. Added to that they scored a further $13.8 million from Aston X, an ICO project building a platform to decentralize documents, $5.8 million in tokens for Dent, a mobile data ICO, and over $1.1 million Tron, a much-hyped project originating from China. That’s according to a wallet address that has been identified as belonging to the alleged attacker, who also got hold of smaller volumes of a further five tokens from Coinrail. In all the cases, the companies issuing the tokens themselves were not hacked, the tokens that were nabbed belong to Coinrail users. Continue reading >> https://techcrunch.com/2018/06/10/korean-crypto-exchange-coinrail-loses-over-40m-in-tokens-following-a-hack/Another source from here: https://www.forbes.com/sites/chuckjones/2018/06/10/bitcoin-bitcoin-cash-ethereum-ripple-other-ccs-fall-5-or-more-as-south-korea-exchange-hacked/#73bda70358a6 |
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Unless.... the trading price drops to "mining unprofitable" value until the Pool operators themselves came up with an idea to earn "extra profits" by doctoring the next blocks.
As discussed in other threads, achieving more than 51% of the total hashrate isn't too far-fetched if two or more of the current mining pools merge together.
So if bitcoin's value became obsolete, this kind of possibility may happen...
Not saying that mining operators will revolt against Bitcoin but based on the statement: "How strong is Bitcoin against 51% attack".
The whole idea can't be based on the mining equipment/operation cost at all, but the whole setup including the price.
With the current setup, we are not that safe if a resourceful adversary plans it well, given that the Bitcoin trading price drops to an alarming value.
In addition, if this kind of attack is performed ... a hard fork will solve this problem and all the amount of time, money, energy spent on this will go to zero. The mining pool ghash.io briefly exceeding 50% of the bitcoin network's computing power in 2014, but as of now, there many new strong pools, bitcoin farms etc ... so it's really difficult to perform this kind of attack. https://en.bitcoin.it/wiki/Comparison_of_mining_poolsWe have been there before and when a huge Pool reached a percentage close to 51%, a lot of Pool members shifted their hashing to another Pool. Why would they willingly do that? Well the answer is simple.. If a double spend were done, investors in Bitcoin will question the security of this technology and the validity of the transactions. A massive dump will follow and the price will take a nose dive. An attack of this magnitude will cause panic and the attackers will gain very little in the long run, because the price will keep going down. The cost to sustain such an attack, also outweigh the gains of doing this.  Nice answer. |
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I guess more user registered here in this forum than the entire population of slovenia. They are creating there own crypto currency and I think till now they do not have their any fiat currency.
I do not read anywhere in this article that they will be using bitcoin in that city. Article says that they will use Elipay.
Did you read the title ? "Slovenia creates first bitcoin city in the world", and of course other cryptocurrencies will be accepted in some stores. |
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I noticed on coinmarketcap that many cryptocurrencies follows almost same graph as Bitcoin.
What is the reason behind this in your own opinion ?
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Nice reading.
I was impressed by the hardware price.
Probably the attacker could buy that for a cheaper price, as he is going to buy a lot of hardware (economies of scale).
Yes, but notice the difficulty to find a supplier for this high quantity ! and especially the power required to run them. The only way is to host them in different place ... so we have here additional costs. |
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In order to calculate how much money do you need to perform a 51% attack on bitcoin: Current hashrate (Total network hashrate): 36349358,259 TH/S (From https://blockchain.info/stats) We choose our miners from here: https://en.bitcoin.it/wiki/Mining_hardware_comparisonLet's take for example: Antminer S9 Hashrate = 14 TH/S
Consumption = 1.375 kWCost of harwares:Hardware = Current hashrate * Price of Antminer S9 / Hash produced by Antminer (per seconds)
Hardware = 36349358,259 * 2400$ / 14
Hardware ~= 6,231,318,559 $
Number of antminers = Hardware / 2400 ~= 2,596,382Cost of electricity:Electricity consumption per day = Number of antminers * consumption * 24
Electricity consumption per day = 2,596,382 * 1.375 * 24
Electricity consumption per day ~= 85,680,606 kWh
Electricity cost per day = Electricity consumption per day * Cost per 1kWh
Electricity cost per day = 85,680,606 * 0.045$ (Electricity pricing - Depend on countries)So attacker have to pay 3,855,627 $ of electricity per day ! This without make calculation of transport, renting or buying local where to install all this stuff, without counting the difficulty to get this number of miners and electricity power required to get them working all. And counting the risk that the attack will not be a success and many other factors ... If you want to know more about Difficulty and Hashrate: https://en.bitcoin.it/wiki/DifficultyI made calculation 2 days ago from here: https://bitcointalk.org/index.php?topic=4429114.msg39597354#msg39597354In the space of two days, we can see this changes:Hardwares:Today = 6,231,318,559 $ 2Days ago = 5,936,594,032 $ Difference ~= 294,724,527$
Additional AntMiners ~= 122,802Electricity:Today = 3,855,627$ 2Days ago = 3,673,266$ Difference ~= 182,361$In the current state of things, it's near impossible to attack Bitcoin ! This show how this coin is strong now. |
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The majors disadvantages of IOTA: The tangle and Zero fee transaction. A fully decentralised (or rather, distributed) consensus algorithm in a perfect world would be where, every participant in the network has an equal voting weight on what the correct history of transactions is.
And yes you are right, actually there no perfect consensus algorithm ... but there will be many improvments in the futur. |
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There are literally dozens of bitcoin core alts right now out there but it is very hard to weed out the definition of what an alt is
Nope. There are various Bitcoin forks. But Bitcoin Core is just a Bitcoin client. There is no currency called Bitcoin Core, so there is no fork of it. https://en.bitcoin.it/wiki/ClientsA bitcoin client is the end-user software that facilitates private key generation and security, payment sending on behalf of a private key.
Actually, there is an altcoin called "Bitcoin Core" now: https://thebitcoincore.org/Of course, it's just another shitcoin, but this has a very special goal: To use Roger Ver's politician tactics against himself. The point is that Roger Ver usually uses his big megaphone in the form of Twitter, other social media, or live TV appearances, to call Bitcoin "Bitcoin Core", so now whenever he calls Bitcoin "Bitcoin Core", he will be talking about the altcoin called "Bitcoin Core". So the bigger this BTCC altcoin gets, the more exposed he will get for trying to mislead the public, as they will learn Bitcoin. It is pretty funny. Remember when he used to call Bitcoin "Bitcoin Segwit"? Then he switched to "Bitcoin Core", and if this altcoin gets big enough, he would have to change it to something else. The guy is such a relentless scammer. It's really funny, but do this altcoin have other goals ? any road map ? Because since they want it to go big, peoples must invest on it for that, so it must worth it. |
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Hi, just some advices to protect yourself from new attacks since each time someone discover a new 0day exploit to make a mass attack etc. I suggest you to check regulary this website: https://thehackernews.com/And disable any addon added to your browser like: Adobe Products (PDF Reader, Flash etc.), VLC, and any other one. Prevent yourself from installing random programs or files on your computer, check always the SHA signature if it's the original one. And finally prevent access to any website that may look suspect. It's good to remove any wallet from your PC, and store it else where like USB and protect it with strong password using ZIP file (You can crypt it twice with different passwords) ... or using encryption like AES etc. Recent ZeroDay exploits you have to check and update asap: https://thehackernews.com/2018/06/flash-player-zero-day-exploit.htmlhttps://thehackernews.com/2018/06/google-chrome-csp.html |
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Unfortunately you are subject to a clipboard malware !
This malware steals cryptocurrency and other electronic funds by surreptitiously modifying wallet or payment information whenever victims copy it to their devices' clipboards.
He detect if you have copied a bitcoin address, so he can generate another address almost similar to the original one and replace it then in the clipboard, when you paste it, you will make no difference between them.
I suggest you to use another LAPTOP or make new installation for your OS, try to use your wallet from safe place ... prevent accessing suspected links and download and install random files on your computer, keep your OS updated as same as your Browser.
And finally, move your coin to a new wallet in case the attacker got your private key.
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