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Who wrote this article??? Lack of basic understanding of shorting a currency. If IMF really helped, Soros won't beat the bank of england by shorting Pounds, won't attack the southeast asia by shorting their currency either. Speculative attack typically happens when a country is overly loaned and there are plenty of fiat can be borrowed at a low interest
To short a currency, you just borrow it and then sell, in forex trading you can use leveraged trading to add to your power, and buy it back at a lower price. You can always short a currency on forex market, no matter there is bitcoin or not. And there is no such thing like you must support the currency exchange price by using bitcoin to buy your currency, you can always use USD reserve to support your currency exchange price
The only valid concern is that BTC might have devastating power over some small countries if its value gained too much, but that is another topic: What rich people will gain by destroy poor people's life???
I don't understand that either. Does anyone know why bitcoin would make such an attack more feasible? I guess maybe it's just that the IMF has plans in place to try to stop a traditional attack but hasn't spent much time thinking about bitcoin. |
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I got my coins today as well. Thanks doublec.
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rhBtRZj6bsiTSvgoCSgrGuPT5SYkURBXYj
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does anybody have incidences in mmind of when exchanges were hacked, and what happened in the process?
if the exchange gets hacked your just S.O.L. better luck next time or do they reimburse you and take responsibility for their failed security?
all valid concerns in this economy..
Both btc-e and vircurex have been hacked in the past and covered the losses themselves. Mooncoin apparently just stole the deposits and disappeared. Cryptoxchange shut down and last I saw there were a lot of users that never got their money back. |
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Sad to see the bitparking exchanges go, but very understandable. Best of luck doublec, anyone wanting to get into the exchange game would be smart to hire you.
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Kumala can you verify if that twitter account is real or not?
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What honest user is buying and selling to themselves? It would not effect them in any way and if it is such a non-problem why has it been legislated into law for just about any exchange that is in existence. You know them puny little things like the NY and London Stock Exchanges.. This coin shit is just like gambling it is always nice to know your about to sit down at a rigged table or the dice have been shaved/weighted.
My point was that I don't see it as dishonest... it's a tactic anyone can use if they like. IF you make a rule against it, ONLY the honest users will be bound by it. What's your rational? Saying there's a law is no argument at all, there's a million stupid laws. I honestly don't get why you'd want to monkey with a free market by stacking on rules that you can't even enforce. |
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See no one has mentioned the questionable practice of the buying and selling to yourself that every exchange I have ever tested it on allows you to do. A nice bonus feature for the market manipulators on all the exchanges.
Anyone could easily get around a rule like that by using multiple accounts. It'd add complexity to the system and only effect honest users. I've never tried to manipulate things that way (I don't think it would work too well), but since everyone knows it possible and can do it themselves I don't see it as a problem. |
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Last Week - Blockchain.info reported a block found by Bitlc.net
I'm pretty sure there was an extra block found that wasn't credited. I don't have the data in front of me, but I noticed that on the statistics page it shows who found the last block. A week or two ago it changed from one user to another but the shares and everything else just kept going like nothing happened. Then just a few days ago the stats changed to say that the last block was found after something like 12 shares. There was no credit for it, or the previous block. Also, the bit about how his partner has an encrypted cold wallet and he has the key doesn't make much sense to me. Whenever you need to move money from the cold wallet somebody has to have both the key and the wallet together and they can just keep a copy of both obviously. |
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Great to see another LTC exchange! Bitparking has long been a favorite of mine... clean, simple and solid.
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Neither the servers nor the database were compromised. There were no SQL injections.
At 04:07 MSK (GMT+4) our LR API Secret Key was compromised. It's 16 uppercase, lowercase letters and digits. They may have bruteforced it for long.
Using the key the hacker imitated LR deposits from many accounts and bought up Bitcoins, Namecoins and Litecoins. I wonder how the attack worked... You think there's a way to brute force the API key offline? Did btce or LR allow millions of attempts at guessing it? Probably got hacked some other way. |
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The track records of these "hacks" points to "we have been hacked your money is gone, make your claim here". If this was a genuine hack not a "hack" I would be positively surprised. Just sain'  I'd say it's highly unlikely it was an inside job... after the hack started there was plenty of time for people to withdraw what they could until the hot wallets were depleted. |
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Can you please whitelist me? I have some questions and info regarding the btce hack.
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Please can you whitelist me? I have a technical question for the Alternate cryptocurrencies forum.
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Can you please whitelist me so I can send personal messages? I'm having a problem with a mining pool and the only contact I have for the admin is via this forum.
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