Well, I think that *probably* we will see lower prices soon. I bought at $550ish on Stamp, but exactly 50% of my fresh fiat is waiting for lower prices.


Well, all your "good by triple digits", "no more triple digits this year" posts were perfect to made fun of when we reached the quadruple digits

Anyhow I guess you will agree that "that time was different", as post-April 10th we didn't enter a loooooong slide down for many months as it happened in 2011. In fact the very bottom ($50) was only 2 days after the peak ($266), so I'd say that it was indeed very different.

What never changes: bitcoin is prone to boom and bust cycles. Buy during panic sells, sell during euphoria - and enjoy the ride.

How did you lose money? Please elaborate.

The fact you low-activity-noobs spend your day trying to spread FUD in this forum is just a strong signal that this is a good time to buy. Probably soon we will see an even better chance.

As soon as you low-activity-noobs start posting "to the moon" and that kind of euphoria-driven posts, then it will be the time to sell.

That strategy never failed, did you know?

It would be cool to see a chart of the daily Kraken volume since its launch. Anybody has this data?

The market is reacting VERY maturely to a "major" issue: despite of devs trying to downplay the transaction malleability thing, the hard cold fact is that this limitation is being exploited right now to launch a DoS attack to the network which is slowing down (if not outright halting) the bitcoin economy. I've been sending coins to quite a few services for testing purposes (Bitstamp, Dgex, etc.) and all of my transfers were "mutated" and thus the coins were sent to the correct destination but they weren't credited to the corresponding accounts. Most transactions are delayed and big players such as Bitstamp, Gox or Coinbase are having problems tracking correctly the transactions.

Still BTC is trading well above $600 everywhere but Gox. This is a sign of strength in my book. Be prepared to buy, guys, because the network will come out MUCH stronger after this issue is solved.

(cross-posted in the Wall Observer).

This post should be stickied, at least until the transaction malleability issue is solved.

Good job D&T, the clearest and most complete explanation of the issue I've read so far.

The market is reacting VERY maturely to a "major" issue: despite of devs trying to underestimate the transaction malleability thing, the hard cold fact is that this "limitation" is being exploited right now to launch a DoS attack to the network which is slowing down (if not outright halting) the bitcoin economy. I've been sending coins to quite a few services for testing purposes (Bitstamp, Dgex, etc.) and all of my transfer were "mutated" and thus the coins were sent to the correct destination but they weren't credited to the corresponding accounts. Most transactions are delayed and big players such as Bitstamp, Gox or Coinbase are having problems tracking correctly the transactions.

Still BTC is trading well above $600 everywhere but Gox. This is a sign of strength in my book. Be prepared to buy, guys, because the network will come out MUCH stronger after this issue is solved.

Define "screwed up". If your definition of "screwed up" includes a slowed down bitcoin economy because most (if not all) services are having problems with delayed transactions that are not credited to customer's accounts then YES, a single PC can "screw up" 25% of transactions and dramatically slow down the economy.

Everybody is. Not only a visual annoyance but also a potencial pain in the ass if you do a lot of transactions per day, some of your transactions might break because of unconfirmed change.

There's no "exploit" unless you use a custom software that uses "transaction ID's" as the only element to check transaction, and then you let someone to "social engineer" you by making you believe they never received the money you sent them.

If you use the reference implementation (bitcoind/Bitcoin-QT) your wallet will show BOTH transactions (the "malleated" and the original one) and will display the CORRECT balance, so there is really no way for you to be social engineered. If you use a custom implementation that only cares about txid, then probably the "malleated" transaction won't show up in your client/accounting system, leaving the door open to a social engineering attack.

TL;DR: whoever is trying to "malleate" as many transactions as possible is doing it either for shit and giggles, either for trying to spread some panic among novices and thus induce panic selling.

Its pretty clear. Most of my transactions are being "malleated" since yesterday... So what?

I'm using Bitcoin-QT (reference implementation), and thus my wallet balance is displayed correctly. Sure, its a visual annoyance to see all my transactions twice on the UI, with all the unconfirmed ones piling up on the top of the window... But again... So what? Balance is correct, the money is transferred to whom it was supposed to, and at the same speed it would without some joker trying to "malleate" all transactions.

So, reference implementation users are NOT affected. Its easy to check, just broadcast a few transactions and see.

Guys. Just think. I'm getting most of my transactions "malleated" right now, so what? The original transactions never confirm, but the "malleated" ones do and they are registered correctly by Bitcoin-QT. You just see all your transactions twice, one is confirmed and the other will never be, so what? Balance is displayed correctly by QT because the standard implementation handles correctly malleated transactions.

Its just a visual annoyance, as now unconfirmed/doubled transaction pile up on the UI, but apart from that visual annoyance nothing is happening.

Try yourself. Send a couple of transactions and you will see.

Well, every single transaction I've broadcasted today has been "mutated". Its pretty harmless for regular users, but its pretty annoying to have so many unconfirmed transactions on the client... I guess the annoyance is even bigger for the exchanges who broadcast thousands of transactions.

Armory needs to have its own database based on the blockchain, so there's no currently no way for you to do not have the blockchain "stored twice".

Well, the "transaction malleability spam bot" is having a lot of fun, every single transaction I've broadcasted today has been "mutated".

Pretty useless for the attacker but also pretty annoying for the users to have the client filled by all those unconfirmed transactions... And I can bet that some novice might get scared and think they are spending their coins twice.

Yes, those are very probably "mutated" transactions - I'm getting those "double spend attempts" on every and each transactions I've been transmitting since yesterday.

Pretty useless stuff for the attacker, but I can bet that some novice got scared by seeing two transactions instead of one.

I think yes, AFAIK you are just swiping the imported address to a Gox internal address

Its obvious that everybody who invested in BTC in 2012 is doing pretty well. Honestly, you don't need to be a mastah tradah to do that, being in the "right place at the right moment" plus a little bit of intuition will just do the trick.

But I wonder how you didn't see this coming. Its clear since June/July that Gox was going to fuck up really hard.

BTW, did Sturle honor his offer to buy your emptygoxBTC at 90%?

Sweet. Historic. Go Amir, Go!!

Rpietila, I agree what Gox is doing is criminal and Sturle's shilling is highly suspicious, but let me tell you that you suck very hard at Bitcoin risk management.

First you bring an unsecured laptop without password and with thousands of bitcoins on it to a "BTC millionaires gathering" that had been viciously advertised all over the Internet. Then you store hundreds of BTC in a place which has been giving clear insolvency signals since April.

Serious Risto, Wtf?