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Author Topic: bitfloor needs your help!  (Read 158765 times)
SgtSpike
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October 08, 2012, 08:23:34 AM
 #601

1) Making public information about how he created his cold wallet, or how it is stored, or where it is stored reduces his security.
Security through obscurity is not security.

Passwords are security through obscurity, so yes, it is.
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Vod
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October 08, 2012, 08:09:05 PM
 #602

1) Making public information about how he created his cold wallet, or how it is stored, or where it is stored reduces his security.
Security through obscurity is not security.

Passwords are security through obscurity, so yes, it is.

A password by itself is useless - you need the associated login name.

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October 08, 2012, 08:17:03 PM
 #603

1) Making public information about how he created his cold wallet, or how it is stored, or where it is stored reduces his security.
Security through obscurity is not security.

Passwords are security through obscurity, so yes, it is.

Ok smartass, let me just quote wikipedia for you Smiley
Quote
Security through obscurity is a pejorative referring to a principle in security engineering, which attempts to use secrecy of design or implementation to provide security.

A password by itself is useless - you need the associated login name.
Oh, and what are you doing here ? How about letting the grown-ups do the talking ?

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October 08, 2012, 09:03:04 PM
 #604

Ok smartass, let me just quote wikipedia for you Smiley
Quote
Security through obscurity is a pejorative referring to a principle in security engineering, which attempts to use secrecy of design or implementation to provide security.

A password by itself is useless - you need the associated login name.
Oh, and what are you doing here ? How about letting the grown-ups do the talking ?

Don't feed the troll.

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October 08, 2012, 09:23:50 PM
 #605

1) Making public information about how he created his cold wallet, or how it is stored, or where it is stored reduces his security.
Security through obscurity is not security.

Passwords are security through obscurity, so yes, it is.

Ok smartass, let me just quote wikipedia for you Smiley
Quote
Security through obscurity is a pejorative referring to a principle in security engineering, which attempts to use secrecy of design or implementation to provide security.
The fact is though, revealing information about his cold storage procedures DOES reduce the effective security of said procedure.  One less unknown is one more factor a malicious entity could use in planning an attack.

I know the argument is that security measures should always be 100% bulletproof, so that even if all the facts were known, it wouldn't be possible to crack, but it is very rarely the case that such a scenario can be created.  Especially with regards to cold storage, the malicious entity would want to know where it is stored, how it is stored, how often and when it is accessed, etc.  Each of those unknowns is "security through obscurity", but each one, if revealed, would help an attacker with pulling off a heist.

Just my two cents.  Wink
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October 11, 2012, 01:33:39 AM
 #606

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bitfloor7:24 PM  -  Public

WellsFargo cash deposits are currently suspended. Due to this account suspension, ACH withdrawals will be delayed as the account is closed. These delays are outside of our control and we apologize for any inconvenience this may cause. We strive to process both USD and BTC in an efficient manner and will continue to do so after these delays are resolved.

We will post more information on the future of cash deposits as it becomes available.

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October 11, 2012, 11:45:13 AM
 #607

ACH withdrawal was enabled on my account, it took a while but implemented earlier this week & just when I planned to test it out Wells Fargo go & break it, oh well I shall look at doing this in November now, I hope that Bitfloor will find the US banks more cooperative than the UK ones have proved to be for other Exchanges up until now. I guess that this explains why there's a 139 btc bid there atm for $12.20 while Gox price is just under $12 now, a nice arb op for someone who doesn't mind waiting to get the $ out.

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SgtSpike
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October 11, 2012, 04:23:07 PM
 #608

Roman - any update on the potential investors/payback of the lost BTC?
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October 11, 2012, 04:59:11 PM
 #609

Roman - any update on the potential investors/payback of the lost BTC?
I somewhat expected to start seeing my "held" BTC balance tick downwards ever so slightly as transaction fees are being collected, but it hasn't happened. Maybe it's a manual process now, but Roman should automate it. Continuous, incremental progress toward getting everyone paid back, even if it will take years, would be a welcome sight.
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October 11, 2012, 05:02:57 PM
 #610

Roman - any update on the potential investors/payback of the lost BTC?
I somewhat expected to start seeing my "held" BTC balance tick downwards ever so slightly as transaction fees are being collected, but it hasn't happened. Maybe it's a manual process now, but Roman should automate it. Continuous, incremental progress toward getting everyone paid back, even if it will take years, would be a welcome sight.
Agreed, though I was also hoping he would find an investor to cover the losses.  Wink
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October 11, 2012, 05:52:00 PM
 #611

we tried....

https://bitcointalk.org/index.php?topic=112069.msg1212452#msg1212452
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October 11, 2012, 07:42:51 PM
 #612

Roman - any update on the potential investors/payback of the lost BTC?
I somewhat expected to start seeing my "held" BTC balance tick downwards ever so slightly as transaction fees are being collected, but it hasn't happened. Maybe it's a manual process now, but Roman should automate it. Continuous, incremental progress toward getting everyone paid back, even if it will take years, would be a welcome sight.
Agreed, though I was also hoping he would find an investor to cover the losses.  Wink

Maybe its because confidence in security has not been restored.  I know mine hasn't.
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October 11, 2012, 08:00:35 PM
 #613

I was thinking of selling my debt, but probably wouldn't get more than 10 cents on the dollar for it, if that. Should have done it right away like TangibleCrypto did.

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October 11, 2012, 11:08:27 PM
 #614

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bitfloor7:24 PM  -  Public

WellsFargo cash deposits are currently suspended.

Dammit!!!

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October 12, 2012, 12:31:51 PM
 #615

I was thinking of selling my debt, but probably wouldn't get more than 10 cents on the dollar for it, if that. Should have done it right away like TangibleCrypto did.

Yeah but if you wait another month you will be saying that you should have sold a month ago for 10%...

Does anyone really thing any serious chunk of this debt will ever be paid back? Nothing is impossible, but that is impossible.
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October 12, 2012, 07:49:35 PM
 #616

It's pointless to post once it gets into single digits.

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TheButterZone
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October 18, 2012, 09:18:55 AM
 #617

Well, somebody(s) must be uber-confident in Bitfloor, considering there's ~545 BTC of liquidity on the asks side worth ~$6,755 right now, ranging from $11.90-14.01. Wonder when we're going to start seeing the BTC trickling back into our accounts.

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October 18, 2012, 01:28:25 PM
 #618

Is there even a way to get cash in there yet (after the wells fargo/chase account closures)?

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October 18, 2012, 02:11:33 PM
 #619

Well, somebody(s) must be uber-confident in Bitfloor, considering there's ~545 BTC of liquidity on the asks side worth ~$6,755 right now, ranging from $11.90-14.01. Wonder when we're going to start seeing the BTC trickling back into our accounts.

Good question, I'm glad to see it's back operational but until I see some attempt at my lost btc being paid back I just can't bring myself to use their service anymore.

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October 18, 2012, 05:22:36 PM
 #620

I have been using ING Direct to transfer in USD, and have bought about $12,000 worth of bitcoin in the last 2 weeks already. All BTC in my own wallets now.

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