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801  Other / Beginners & Help / Re: Help! BTC disappeared from my Coinbase account. What can I do? on: June 23, 2013, 03:30:06 AM
Lol. I think we are getting trolled.

No, you're not. I was robbed, and so was the other person. Same thing could happen to anyone in the cryptocurrency world.

So you are saying you use Coinbase and your Coinbase balance went down after you received Bitcoin funds?   And there is a transaction in Coinbase history that shows a BTC withdrawal ("You sent bitcoins to xxxxxxxxxxxxxxxxx") and you did not make that withdrawal request?  And that you have 2FA authentication?

Well, then let's consider what could have happened.

Authy is the 2FA authentication method that Coinbase uses.  Authy requires a mobile app or alternatively the 2FA code for withdrawal is sent as a text message.

So did you receive a text message with a 2FA code from Authy?

Either way, Coinbase can help you figure out exactly when this 2FA code for this transaction was sent (and Authy knows the the IP of the mobile device if the 2FA came from an app), and the IP address that was used when accessing for that withdrawal transaction .

Have you contacted them?
802  Other / Beginners & Help / Re: Help! BTC disappeared from my Coinbase account. What can I do? on: June 23, 2013, 01:55:15 AM
I would post a pic of my transaction details, but it is literally the same as the pic posted by DanzoFriend. Same hash, same date and time, same amounts and output addresses down at the bottom of the screen, same block. No difference. None!

I'm not able to see the image on postimg.

But if two separate accounts are showing the exact same withdrawal transaction that's something Coinbase needs to know about.
803  Alternate cryptocurrencies / Altcoin Discussion / Re: What Litecoin means for Bitcoin (and crypto in general) once it's on Mt.Gox on: June 22, 2013, 08:20:08 AM
What I'ld like to know is who suffers if Mt. Gox offers Litecoin trading and there is a 51% attack against Litecoin in which those funds were then double spent against Mt Gox.

Mt. Gox was asked this question, but they declined to provide an answer:

As a result, it must be presumed that funds are not safe when left with an exchange that trades alt coins and doesn't have a policy or other protections regarding a 51% attack:

Your Bitcoins Are Not Safe At Alt-coin Exchanges
804  Economy / Service Announcements / Re: BitBin - Earn bitcoins with your pastes! on: June 22, 2013, 08:04:11 AM

BitBin is currently down due to a web host related security breach.

Will the existing paste's be restored / made available again?
805  Bitcoin / Development & Technical Discussion / Re: Double spending on: June 22, 2013, 07:16:47 AM
If someone were able to do a double spend or revers a transaction, would we ever know about it?

A race attack (on 0/unconfirmed) uses deception where the Bitcoin node used by the recipient sees one transaction but the miners see a different transaction -- with both transactions spending the same coin.

So if your node were to see one transaction (at 0/unconfirmed) and then eventually a block came in with a different transaction then your node will behave as if the original transaction never occurred.

So there's no alert and no other way to learn that a double spend occurred.

If the race attack failed (i.e., the mining nodes received the same transaction as the recipient's node knew of) then there would be no way for a the recipient's node to know that an attack had been attempted.

Now if there is a block re-org in which a transaction had a confirmation and then a subsequent block arrived causing a transaction to revert to 0/unconfirmed, then that might be visible to someone watching a transaction but the client itself does not alert on such an event.

Some services that have multiple listeners (using a customized client that does not reject invalid double-sped transactions) can recognize double spends, but this detection and alerting is not something the stock client offers. does report double spend conflicts for an address in their web interface.
806  Economy / Service Discussion / Re: On-line wallet sites that sign messages? on: June 22, 2013, 02:54:30 AM
There are several online wallets, but I don't know of any that have a message signing function. If you know of one, please reply with a link to the site?
Under the Receive Money tab, select pull-down for actions on any address.  Then click Sign Message.
807  Bitcoin / Press / Re: 2013-06-21 - In-Person Bitcoin Exchanges Are Thriving on: June 21, 2013, 08:11:52 PM
that link goes to this thread...

Doh, sorry!  Fixed.   The link is:
808  Bitcoin / Press / Re: 2013-06-21 - In-Person Bitcoin Exchanges Are Thriving on: June 21, 2013, 08:06:48 PM
That in American Banker, cheeky fecker Smiley This Bitcoin things getting way out of hand, better put on more pressure on the branches to close the accounts of these exchange sites.... and unleash a hydra.

It gets to be diminishing returns.

Like when Dwolla enacted the 30-day probation before transfers could be made to Mt. Gox and other Bitcoin exchanges the result was the "Dwolla <--> Mt. Gox" thread in which person-to-person trading between forum users absorbed much of that demand from those with less than the thirty days.   Then Dwolla proceeded to try to figure out which of their customers were performing these person-to-person trades  and extend the "high risk merchant" status to those accounts.  It is kind of like whack-a-mole.

So banks close the accounts for Bitfloor, Bitcoin-To-Cash, Bitspend, etc.  but at the same time they operate account-to-account (A2A) transfer methods which facilitates person-to-person trading of Bitcoins via the banking system:

809  Bitcoin / Press / Re: 2013-06-21 - In-Person Bitcoin Exchanges Are Thriving on: June 21, 2013, 05:48:34 PM
In the U.S., FinCEN's guidance describes trading bitcoins or cash as being a money transmitter.  Money transmitters are required to register with FInCEN as a Money Service Business (MSB).    There is an exception however.  There is a limitation in the regulations for infrequent trading (i.e., five times or less per year, and not done for profit):

Limitation On MSB Regulations For Infrequent Trading

Thus there is then valid reason for (most of) these thousands of traders to be active without regard to FinCEN's guidance.  
810  Bitcoin / Press / 2013-06-21 - In-Person Bitcoin Exchanges Are Thriving on: June 21, 2013, 05:37:50 PM
In-Person Bitcoin Exchanges Are Thriving
by Jon Matonis

In-person bitcoin transactions allow you to meet interesting new people in your area – and discuss bitcoin.
For the casual traders seeking more privacy, I recommend in-person trading through
LocalBitcoins has steadily added new cities and market depth. 'We currently have 142 countries and 1700 cities,' [founder Jeremias Kangas] recently told Bitcoin Magazine, 'but that most definitely isn’t enough. We want to expand to at least 170,000 cities'.
LocalBitcoins offers an escrow facility and a rating system both of which can be extremely valuable for the first-time trader.
The bitcoin provider sets the price markup and types of payment that will be accepted. [...] Given the robustness of trade in some large urban areas, it is entirely possible to earn a living from buying and selling bitcoin using the LocalBitcoins matching platform.
In the general classification of commodity, bitcoin's trade is similar to any other collectible item, such as antique diamonds, celebrity autographs, moon rocks, Buddha figurines, and baseball cards.
Ultimately, until physical paper cash is outlawed, bitcoin will still be bought and sold in person just like any other commodity.

811  Bitcoin / Bitcoin Discussion / Re: From a low level, how does difficulty work? on: June 21, 2013, 05:07:27 PM
So the target is a 64 bit number

A 256 bit number stored as a floating point and truncated:

Also more info here:

What is “difficulty” and how it relates to “target”?
812  Bitcoin / Press / Re: 2013-06-21 WallStreetJournal : Largest Bitcoin Exchange Halts U.S. Dollar... on: June 21, 2013, 03:30:23 PM
Largest Bitcoin Exchange Halts U.S. Dollar Withdrawals

Paywall.  Anyone care to provide some excerpts?
813  Bitcoin / Project Development / Re: ICBIT Derivatives Market (USD/BTC futures trading) - LIVE on: June 21, 2013, 03:06:33 PM
I performed testing, and could not reproduce this vulnerability. Password reset does not touch the 2FA settings.

Stephen, could you check and let me know exact steps to reproduce? Maybe I missed something. Thank you!

Just to clarify, what I'm asserting is that if my e-mail account is compromised an attacker can reset my password and withdraw my funds.


From a browser instance after clearing cache, cookies, etc:

Step 1: Confirm 2FA is active (Attempt to login to account in which 2FA is activated, using just username and password).  Response: "Your code isn't valid."
Step 2: Click "Request new password" button.
Step 3: Login using single use login sent via e-mail
Step 4: Once authenticated, click GA_Login tab [Edit: and click "Create code" button.]
"Google Authenticator is enabled for your account. If you want to create a new key - please click on the button below. The old key will be dropped."
Step 5: Add TOTP secret to Google Authenticator, mark "I have successfully scanned the current code" checkbox, and click "Code scanned" button.
Step 6: Withdraw funds using new TOTP secret from Google Authenticator
814  Economy / Service Discussion / Re: Is Coinbase out of the GOX game?? on: June 20, 2013, 09:48:43 PM
Is coinbase no longer using GOX?

I see that BitPay is no longer using that BTC/USD market:
815  Bitcoin / Bitcoin Discussion / Re: How do you transfer Bitcoins without an Internet connection? on: June 20, 2013, 09:46:12 PM
How do you transfer Bitcoins without an Internet connection?

Which side doesn't have Internet ... the sender or the recipient (or both)?

From another thread:

In many areas of the world, there is not just limited connectivity, there is no Internet connectivity.   But does that mean those people would be shut out from using Bitcoin?

Is there a way that Bitcoin transaction can execute via sneakernet?   (i.e., the villager and his wallet stay home, but the transaction to pay was transferred to an agent which is then taken to a location that has Internet connectivity)?

Just as a bookend to this thread:

Transactions when only one party is online

Update: And these as well:
Desert island economy on Bitcoin without being connected to the internet?

Creating transactions offline:
816  Economy / Trading Discussion / Re: My business wants to accept bitcoins but I can't figure it out on: June 20, 2013, 09:37:26 PM
I guess I should use somekind of API (which is a new world to me) to get the current MtGox price?

If you did that then at this very moment you would be accepting bitcoins at $112 but you might then be trading them at another exchange at $107.  Because of the temporary USD withdrawal halt at Mt. Gox, the price on their market has diverged from others/

When Mt. Gox "was" the market, there was essentially one source for determining price.  Now it might need to be derived with an algorithm, like how BitPay does it:
817  Economy / Trading Discussion / Re: [PSA] Be careful with your new hardware. Criminals are watching. on: June 20, 2013, 09:16:35 AM
A couple days after posting my Avalon ASIC sale in the forums and on ebay, someone broke into my home and stole it.

Is that going to be the Bitcoin equivalent to the "boating accident" that befalls so many precious metals investors?
818  Bitcoin / Press / Re: 2013-06-17 Watch out Bitcoin, Feathercoin wants in on your limelight on: June 20, 2013, 08:40:47 AM
Posting today an article from June 3rd?    I don't think this board is lacking in articles lately, ... this one wouldn't have been missed.
819  Bitcoin / Wallet software / Re: BitcoinSpinner on: June 20, 2013, 07:58:14 AM
The sources are published here:

Please consider packaging it for BlackBerry10 too.
820  Bitcoin / Bitcoin Discussion / Re: Easiest way to explain Bitcoin on: June 20, 2013, 07:41:00 AM
and it will remain a niche currency that isn't useful for most purchases.

Bitcoin doesn't have to be useful in every situation for it to grow.  If bitcoin were used just for online gambling, or just for remittance payments, or certain other specific uses, that would be enough.  But since Bitcoin can serve all these plus more expect it to permeate other areas as well.    But if your Nascar fan never knows of nor cares about Bitcoin a few years from now, that's not failure.

As far as credit cards giving protection, that's correct and something not available currently (without using escrow).  

But you as a consumer are paying for that.  The difference is that when a merchant includes the cost of the payment card fee into the price, every customer pays the higher price regardless of payment method used.  So currently, credit card customers are being subsidized by customers paying cash.    But certain types of business that are considered high risk already pay a higher rate, and they will be among the first to have an incentive to accept bitcoin and pass along the savings to the customer.

High Risk Merchant Accounts

So when you pay for an airline ticket with credit card the fare is several percent higher than it should be.  So if your ticket is $400 with credit card or the equivalent of $388 with Bitcoin, and it is a non-refundable ticket anyway, what payment method are you going to choose?

So then those that still choose to pay with credit card do so because they plan to use the customer protection -- thus the cost of fraud on a per-dollar basis rises and the merchant fees have to rise.   It's a self-reinforcing trend.   A larger share of the remaining credit card transactions will be fraudulent, allowing the cash/bitcoin discount to become larger, which pushes more of the non-fraudulent activity over to the cash/bitcoin method.

Additionally, at the restaurant that has "Cash only", I don't get the option to say that I prefer credit card.  If that's the only payment method they accept then that's how I pay.   So when Nascar Bob wants tickets to a sold-out race and the seller only accepts Bitcoin payment, Bob will follow whatever instructions he needs to do to get his tickets.   Today, those instructions could be as simple as: "go to Seven Eleven, pay the cashier exactly NNN.NN dollars for a Moneygram bill payment transaction".  Boom.  Done.  Bob just made a purchase using Bitcoin and still doesn't have to know a thing about Bitcoin.
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