I remember those, but this time he has really been at the meths. |
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balduro, great initiative and I hope it fully succeeds! For future-proofing I recommend using the ISO currency code ISA instead of AUR, as the ISO-codes ISA through ISZ are reserved for Iceland. AU codes are reserved for Australia. So, if the new currency looks like displacing the ISK, then it will have a further advantage for being theoretically acceptable by SIX standards and more easily handled in mainstream forex and financial accounting systems. http://en.wikipedia.org/wiki/ISO_3166-1The discussion about XBT for Bitcoin which is also relevant here. https://bitcointalk.org/index.php?topic=148229.0 |
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Lol bitcoin tried to breakout to the upside twice, and failed both times. At least something is happening !
The market will always take it's own time to act. I think 590 is the major resistance. If you look at the 3-day chart, it is where the downtrend is presently set. |
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Did mtgox loose coins? Yes.
Someone discovered that mtgox could be fooled by malled transactions, and retrieve their coins multiple times. That was the reason why mtgox coins were a hundred bucks higher than the competition. Two hundred bucks when this fact was leaked to other thieves....
No. Anyone who saw the 10k sell on bitstamp would also see that it made only a few flat lines in a much bigger trend. The price could not be pushed $200 for weeks. The higher price on gox was the glacial fiat withdrawal issue. |
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In the MTGox case, there is no profit from the malfeasance since a trader could have used another exchange with the same results.
I agree. This thread is FUD on steroids. |
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I've heard all kinds of speculations, but the problem could be very simple:
MtGox sold coins they did not have in the first place, that's the only reasonable solution to the 750,000 lost coins mystery.
The other possibility is that spammer's duplicate transactions using tx malleability caused their db to fail to store the private keys properly for newly generated addresses, and it got out of sync with the blockchain for address balances. So now they are frantically trying to recover the keys from backups etc, to see how many coins are permanently destroyed. Maybe there will be enough left to open a cafe. |
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You can do it Bitstamp. Just $2 more. I believe in you.
Time for more pictures of trains. |
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An add-on for the payments protocol which safely supports recurring payments.
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7,600 users active on reddit/bitcoin. Never seen that many before.
Frequent occurrence on Dogecoin/Reddit. Ah. That doesn't count! |
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7,600 users active on reddit/bitcoin. Never seen that many before.
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Market looking bullish for the next push up. No appetite to re-test below 550. 5k disappeared off the stamp 650 asks
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stamp freaking out over senator news?  A senator that doesn't even know the difference between "weary" and "wary". Says it all. |
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has the malleability been fixed? can the problem still happen in other exchanges?
tx malleability was never a bug, just a design compromise, with risks, which needed to be worked around when building exchange (and similar) systems. However, core dev have recently made a few improvements which makes containing the risks easier. All the other exchanges are fully aware of it and done necessary changes. Kraken for one did not need any changes. MtGox's problem stems from being the first exchange and making an early custom copy of the software, not properly coping with tx malleability, maybe because their business grew so fast they were distracted by performance issues, and negligent in maintaining certain other areas of their system. |
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I'm unsure whether it was menitioned before:
Every coin the thefts have withdrawn from Mt.Gox was somehow doubled in the past. It was most probably sold by the thefts _and_ it was blananced at the Gox user accounts.
So now there are a lot of people that have less bitcoins than they thought they would have a week ago.
you mean 7% of the coins "gone" = 7% price rise ? If 7% of all bitcoins really are gone then the price rise would be more like 30% because the 7% were from the actively traded float, not from the several million hoarded and locked away in Arctic-cold storage. |
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hmm is there any posts from virtex saying why?
https://twitter.com/cavirtexif you can find a reason there, please share it. I can't see the post history (probably 'cuz I'm blocking the scripts), but I'm not a twitter guy so I'm not sure how that stuff works. They added LTC and it has caused some knock-on problems with their system. |
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I guess I'm a little slow letting the news sink in. If 744K coins are really missing, nobody is going to bail out Gox. it's just too much money and the coins would have to be purchased elsewhere, driving up the price further. MK is delusional in thinking he can fix this. Nobody will make his victims whole. The coins are likely unrecoverable and the reason he has been so obtuse is because the magnitude of his failure is overwhelming. I feel sorry for him now. There is no possible redemption. No apology will suffice, and the cops are coming. The statement of remorse I was looking for will come at the sentencing hearing.
The missing coins have likely already been spent into circulation or have disappeared forever along with their private keys. Wow.
so why is bitcoinwisdom showing price movement on Gox?
Yes. The Prof is right. There is a possibility that 744k bitcoins have been destroyed by MtGox if the private keys have been overwritten in its database. Does anyone know whether gox ever implemented HD wallets internally? |
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Where you at sturle?
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Good news about SecondMarket's proposed exchange, however the CoinDesk article reveals some major stupidities.
"Firstly, it will focus on price discovery. Using the gold market as a model, the exchange will attempt to fix the value of bitcoin once or twice a day to allow trading to be pegged at certain values and create a true indicator for the derivatives and mining markets."
"Oxymoron" means opposite senses combined together, usually illogically. You cannot have the oxymoron of price discovery while fixing value. Using the archaic model of the gold price fix is simply ridiculous. Volatility of the bitcoin price is a function of its newness and growth phase. Derivatives could be valued off 12 hour VWAP (ending GMT noon, midnight).
Slowing down price discovery only creates instability. Even gold has daily 10% dips and gains and that market is 5000 years old and worth 7 trillion dollars.
One thing MtGox got right was the principle of 24/7 continuous trading, which has been copied by all other exchanges since. Despite whale dumps and buys, the cryptocurrency markets have been the freest anywhere, and that is the correct model to maintain.
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Clear water ahead now!  |
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