I personally like Britcoin, it's not very big but you know someone takes things seriously when they refuse to store any passwords at all on-site and put the source code for the exchange on github.
Hmm well this is totally cool, now the hackers know exactly what sorts of attacks will work by analysing the source code for vulnerabilities. I don't recall any wall street banks leaving the schematics for their security systems lying about on the roadside for any gutter trash to read, do I? |
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If they were managed well, they should have had a budget with the funds. This would still be intact.
the fact that they got hacked via rather trivial methods throws the entire premise of if they were managed well into doubt. |
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The roads have been paid for. The cooks have been fully paid along with the doctors and the cleaners of our water. They are owed no further. We may build upon their products but in the end we are the 'giants' of tomorrow. We shall not become indentured slaves to our past.
Yes you did, right here. You imply that things which need upkeep or are ongoing issue should be paid for with a flat fee and nothing more. |
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mtgox might not actually have the funds to cash everyone out because of the rollback. This should be interesting.
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I mean, they're making good all the account balances that were screwed over because of the attack right, but if signifigant numbers of bitcoins left the system to tangiable wallet files they might not actually have the bitcoins available to back up accounts, correct?
if so, what then?
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Would this be the first Bitcoin bankrun? Exciting!  Something that bitcoin is specifically designed to avoid due to non fractional lending but because mtgox is essentially issuing money because of this rollback it's actually perfectly likely that they don't have the money to back their website. |
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What happened to the thread this linked to? It's gone for me.
I presume the mods didn't like a thread about using bitcoins to pay for hackers to hack a random IP with tenuous links to the mtgox hacks? It's not gonna be good rep for bitcoin if it only gets used for soliciting illicit hacking. |
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So after peopl withdrew large numbers of bitcoins to actual tangiable wallet files, you think its fine for mtgox to go "actually none of those transactions ever happened" despite the fact they're now out of pocket because of it?
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Roads need maintainance, the water will always need cleaning, the doctors and suchlike need to be paid for their work.
Saying you do not wish to pay that because you don't think those costs will exist is madness.
(also atlas why are you still living in america I thought you hated it here)
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I'm withdrawing all my money. Mtgox is making good all the transactions which means they potentially don't have the money to pay people if they decide to pull all their money out. You'd be best doing it first to avoid getting screwed over later.
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So tradehill is just a bunch of hackers, huh?  - No computer degree backgrounds. That's odd. Our lead programmer Mike: MJD Co-founder at TradeHill. Serial entrepreneur having started multiple successful companies including an automated trading firm, an engineering consulting firm, and a mobile software company boosting over 300 iPhone Applications. Previously the head of software development for a Los Angeles based start-up commercial spaceflight company. Background in cognitive science and computer engineering. Mike has a BS and an MS in computer engineering. Mike spoke at the end but Adam and I spoke in the beginning because he was reviewing our security as that was a priority. Adam and I are not programmers so have directed all questions to Mike and he will be able to provide better answers from a technical standpoint in the future. Adam on the other hand is an engineer (BS from RPI a top 10 school) and has a background in quantitative finance. http://forum.bitcoin.org/index.php?topic=19537.0 who we are So what you're saying is instead of a security expert you hired a guy who founded a whole load of companies? That really does no inspire confidence at all. I want someone who actually knows about security and how to secure websites against hackers, not someone who can write comercial applications and run a company. |
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He also announces that if "something they don't like is going on they'll close the exchange"
ie, if someone decides they need some cash to pay rent it's perfectly possible they'll close the exchange because he tried to sell a large number of bitcoins.
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also this chat doesn't inspire confidence, the guy doesn't seem to know anything about securing a website properly and doesn't know even basic security terms and covers it up appalingly.
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apparantly drone_fragger is on the audience in this chat and claimed credit for hacking the website?
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buttcoin is hilarious, i'm sorry, and If you really don't get the humour in satiring a website then I don't know what to think.
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I put down a pledge of 100 bitcoins for a 50% stake in the company, the 100btc being payable 10 years after the exchange first starts up.
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Yeah, I am glad to see that at least ONE bitcoin site has security on their minds!
They work with real money - not with worthless FED bills.  which is wierd becuase I don't recall one main street bank losing all their money and customer records to a simple sql injection attack... |
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Hmm yes lets regulate something that is by definition designed to be free of regulation. This is a good idea.
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So for some reason a decentralised cryptocurrency has ended up centralised and running to the whims of a obviously insecure company? This seems a good idea.
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They are just saying that they are going to sell/buy at that price when Mt. Gox comes back up. No one is forcing you to trade there, you can still trade on a different site...
It's extremely difficult to do that when mtgox has a monopoly on the exchanges now really isn't it. |
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