People aren't going to like what I'm going to say but it needs to be said regardless.

The only way bitcoin or any other alternative currencies will become mainstream is if enough infrastructure is built around it.

Person A sending bitcoins to person B (irreversibly) is simply not going to cut it. There is no inherent trust between both parties. We need 3rd party business (banks, insurers,lenders, exchanges etc) to build trust.

A lot of people around here hate banks, but they are important in the world of finance. They facilitate trust between parties.

ie. if i send $500 to a person and he doesn't deliver the product I bought. Thanks to irreversability of transactions, I'm fuckt.

But if the transaction is handled by a 3rd party, they should be able to get my money back.

Of course this system has faults, but economy is consumer driven. The producer is there to satisfy the consumer, not vice versa.

I created a HTML form on my computer and submitted it to mcxnow, and it created an account. I've never actually visited mcxnow. I suppose the same would work for login.

Oddly enough, on this page https://mcxnow.com/about.html they are talking about how their system is protected against CSRF.

Could it be they are talking out of their arses.

360 Seconds between POSTs? I'm sorry but that's just ridiculous. You do realize it takes about 10 seconds to Log In and 20 seconds to write a response to someone? NO, you have to wait another 4 1/2 minutes, staring at the clock.

Would not trust any Ruby On Rails platform for currency trading. Slow, plenty of vulnerabilities. Asking for trouble.

I just did a CSRF attack against mcxnow.

Good to know our private personal data is in the right hands 

All I get is:

"The last posting from your IP was less than 360 seconds ago. Please try again later."

There certainly wasn't a post from this IP because I have a public static IP address.

I think he's already in venezuela or another country. grounding of the bolivian presidential plane could have been a diversion.

1) Proper trading tools are a good start to lower bitcoins volatility.
2) Exchanges have to work closer together. Inter-exchange trading is a must imo. All exchanges should be using the FIX protocol.
3) Futures trading.
4) Wider acceptability of bitcoin.
5) Incentives for people to keep bitcoin instead of trading between fiat and crypto.
6) Investment

Can someone confirm this? It seems like a big security hole.

Still can't get out of my noob level either. been here for ages.

Welcome

5 posts, 4 hours of browsing

Do your research guys. This just reeks bad scam. In most developed countries, companies cannot legally have the word "bank" in their name because it is a restricted word, and only authorized institutions can put it in their name. There are certain exceptions (such as River Bank Corp etc).

Secondly, I would not trust any company with money that doesn't want to verify customers identity. It's just bad practice.

Learn the regulations in your country, otherwise you're gonna get shutdown BankOfBitCoin. I just hope they will get caught before they manage to run  away with the money of the few or many who trusted them.

Personally, I think paypal is good for the consumer, bad for the producer. (consumer can reverse transaction and steal money)

Nice to meet you.

Not that I'm aware of.