If *someone* is stressing BTC... Do you support stressing *someone*?

[gogxmagog]

Ugh I don't know what to believe any more. Either way, these kind of shady dealings just make btc less viable in the eyes of the larger population. Piracy hacks lies and manipulation are no way to gain legitimacy. Not in the best of times. No one even knows what's really going on.... Way to put the uncertainty and doubt into FUD guys!

[Lituation]

https://www.reddit.com/r/Bitcoin/comments/3jjnnz/attacking_bitcoin_in_the_uk_offences_under_the/cupuun0

From Mike Hearn's reply to coinwallet.eu:

We know that the address on your website is fake<snip

Coinwallet.eu's address is as real as the one Coinbase lists as their address.

I don't know where Mike is going with that one... 

Why does he think that the address is fake? I don't really understand these devs.
I don't think any stress test can hurt Bitcoin. Mempool looks normal now.

[BayAreaCoins]

Why does he think that the address is fake? <snip>

Because Coinwallet.eu is using a virtual office.

Coinbase does at well.

[P-Funk]

Mempool as I type this is 300kb. What happened to the month-long backlog?

[RealMalatesta]

coinwallet.eu IS a fraudulent organisation. And they have left some traces which could lead to them. So Mike Hearns is right: They could face criminal AND civil charges.

[poeEDgar]

coinwallet.eu IS a fraudulent organisation.

What do you mean, exactly? How have they committed fraud?

Sometimes I wish we had a popcorn emoticon.

[frenulum]

Mempool as I type this is 300kb. What happened to the month-long backlog?

Apparently the real test starts Thursday.

Wondering what will happen. If it causes a serious disruption, the price (and reputation) of BTC could really plummet   :/

[dothebeats]

Mempool as I type this is 300kb. What happened to the month-long backlog?

As I type this post, mempool is at 273 kB. I wonder how would they create a 30-day backlog in the network?

Apparently the real test starts Thursday.

Wondering what will happen. If it causes a serious disruption, the price (and reputation) of BTC could really plummet   :/

Oh I see, so better to get those transactions done by now, I guess. (Or not, lol.) 

This webpage has a redirect loop

ERR_TOO_MANY_REDIRECTS

Just wth happened to them?

[RealMalatesta]

coinwallet.eu IS a fraudulent organisation.

What do you mean, exactly? How have they committed fraud?

Sometimes I wish we had a popcorn emoticon.

fraud:
 noun: deceit, trickery, sharp practice, or breach of confidence, perpetrated for profit or to gain some unfair or dishonest advantage.

As you may have noticed, I called it an organisation, not a company.

But that's only a tiny detail.

Have you seen their site? They claim to be based in Europe, with a presence in North America and Asia and to offer there

  a hosted Bitcoin wallet that also enables users to store USD, CAD and Euros. We are also a Bitcoin brokerage that makes it easy to buy and sell Bitcoin using the fiat currency of your choice.

Now they have disabled their site. So nobody can access their wallets anymore. So would this be fraud or not?

Wait - they never did any business? They only set up this homepage with all this fake information - to hide themselfs before starting the "stress test"? Unknown persons, using fake information about themselfs, conduct a "stress test" for - what for? If they were a business, they would disable their clients to withdraw money in time. Which would be called fraud. If they were a business and have developed a wallet which would enable their clients to withdraw and deposit bitcoins faster than any competitor during a stress test - this would be fraud.

But right, I forgot: They don't exist as a company. They use their fake service and fake names when talking to the press for hiding their real identity. So why do they hide? Right: They try to delay payments. There have been many cases in the past all over the world in which payment systems were interrupted or attacks had the goal to delay payments. And yes, I must agree that I was wrong: These cases were not labeled "fraud" - but simple criminal acts.

[generalt]

It's all just a cheap publicity stunt if you ask me.  Trying to invoke fear into people to switch to their wallet and getting their name and service out there.  I know I'll never use their service.

[RealMalatesta]

It's all just a cheap publicity stunt if you ask me.  Trying to invoke fear into people to switch to their wallet and getting their name and service out there.  I know I'll never use their service.

Have you ever tried to use their services? Not existing...

[BayAreaCoins]

coinwallet.eu IS a fraudulent organisation.

What do you mean, exactly? How have they committed fraud?

Sometimes I wish we had a popcorn emoticon.

fraud:
 noun: deceit, trickery, sharp practice, or breach of confidence, perpetrated for profit or to gain some unfair or dishonest advantage.

As you may have noticed, I called it an organisation, not a company.

But that's only a tiny detail.

Have you seen their site? They claim to be based in Europe, with a presence in North America and Asia and to offer there

 a hosted Bitcoin wallet that also enables users to store USD, CAD and Euros. We are also a Bitcoin brokerage that makes it easy to buy and sell Bitcoin using the fiat currency of your choice.

Now they have disabled their site. So nobody can access their wallets anymore. So would this be fraud or not?

Wait - they never did any business? They only set up this homepage with all this fake information - to hide themselfs before starting the "stress test"? Unknown persons, using fake information about themselfs, conduct a "stress test" for - what for? If they were a business, they would disable their clients to withdraw money in time. Which would be called fraud. If they were a business and have developed a wallet which would enable their clients to withdraw and deposit bitcoins faster than any competitor during a stress test - this would be fraud.

But right, I forgot: They don't exist as a company. They use their fake service and fake names when talking to the press for hiding their real identity. So why do they hide? Right: They try to delay payments. There have been many cases in the past all over the world in which payment systems were interrupted or attacks had the goal to delay payments. And yes, I must agree that I was wrong: These cases were not labeled "fraud" - but simple criminal acts.

Sounds like most the other Bitcoin services as well.  

Regardless of what they are I suppose it is what it is at this point.

[dothebeats]

It's all just a cheap publicity stunt if you ask me.  Trying to invoke fear into people to switch to their wallet and getting their name and service out there.  I know I'll never use their service.

Have you ever tried to use their services? Not existing...

One reason to raise a red flag on their actions regarding this stress test. Using fake identities and other fake info regarding their service is already a sign of something fishy,

[favdesu]

Mempool as I type this is 300kb. What happened to the month-long backlog?

Apparently the real test starts Thursday.

Wondering what will happen. If it causes a serious disruption, the price (and reputation) of BTC could really plummet   :/

can't wait to see how much money the blew away. apart from that, I will just use a little higher than usual tx fee.

[BayAreaCoins]

Coinwallet.eu is back online from my end.

[gentlemand]

One reason to raise a red flag on their actions regarding this stress test. Using fake identities and other fake info regarding their service is already a sign of something fishy,

It's clearly not a real service of any type. It's a front and nothing but. Someone else said they attempted to open an 'account' and amazingly enough nothing came through.

[RealMalatesta]

What's really weird is how Coindesk is reporting. They claim to have talked to a James Wilson, COO at CoinWallet. However, when posting comments at Coindesk asking in which jurisdiction the company is located or if there is any information who's behind Coinwallet, the comments are immedeately deleted.
I'm convinced that no "James Wilson" exists at coinwallet.eu. And thus, Coindesk isn't conducting any journalism, but paid PR.

[RealMalatesta]

One reason to raise a red flag on their actions regarding this stress test. Using fake identities and other fake info regarding their service is already a sign of something fishy,

It's clearly not a real service of any type. It's a front and nothing but. Someone else said they attempted to open an 'account' and amazingly enough nothing came through.

I opened several accounts and tried to send them my money. However, they never ever reacted.

At least, they have in the KYC-section an important text:

Things you should know

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Maecenas dignissim nulla vitae efficitur elementum. Maecenas egestas turpis sem. Sed interdum interdum lorem eget dapibus. Pellentesque bibendum nibh sed tortor viverra, ornare imperdiet sem imperdiet. Donec mollis sed ex vel malesuada.

All you can do: Send them your Bitcoins. That's what I did (some dust). Since then, not a single support request was answered.

Instead, they claim to work now with OkCoin, BitFinex, BitMex and TeraExchange, selling BTC-bonds to clients.

Still convinced that this all is a fraud.

[ashour]

I support the CoinWallet.eu stress testing since we must push bitcoin to is limit. If bitcoin can't handle a stress test then how is to going to handle the future transactions of millions of users ? The stress tests also deliver important data for bitcoin development which are necessary for the block increase.

[gentlemand]

All you can do: Send them your Bitcoins. That's what I did (some dust). Since then, not a single support request was answered.

Instead, they claim to work now with OkCoin, BitFinex, BitMex and TeraExchange, selling BTC-bonds to clients.

Still convinced that this all is a fraud.

I opened my very own account just now. Didn't realise they provided an address so they could spend your money on spamming. That's pretty shitty. There wasn't even a confirmation email.