"We got hacked" coming !

[Yakamoto]

I'm kind of expecting something like this to happen now, I didn't think it was possible but I guess it is, and we're sitting above $1k right now and chances are some exchanges are going to exploit this.

I don't know why they do, since they can make a lot more money maintaining their website and then performing an exit scam, but whatever I guess. Scumbags either way.

[1714056387]

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[1714056387]

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[isoneguy]

Hah,

A hacking might be the only way to drive the price back down to "buy back in" status 

*whistles*

I wouldn't wish it on anybody though...

[Roselop]

I hate the word" hacking". it made bitcoin price down when the certain exchange has hacking problem .
I think the almost exchanges have been in strong security status.  it's very difficult to do hacking now.

[sotirispngt]

Something like this would be so sketchy.

[alphablitzer]

Don't get hacked. I hope the security of trading / exchanging sites are really protected. It's hard to trust because they can hack it and they can just do it.

[mrkevio]

That is actually a pretty stupid move. Claiming a hack like they did gets the price lower in a few hours only. That's what they want? I know there were websites coming with this excuse when they did not even have a hacker coming after them. Everyone wants money and I also know that me writing this message won't stop them, but it's a bad move. Thousands are going to leave Bitcoin because of a website getting hacked. Less people means a smaller Bitcoin price. Look at the charts and you'll see that Bitcoin went up VERY fast in the weeks before Bitfinex's hack, and then it went down and needed months to recover. We would have had over $1.500 already if that didn't happen, probably.

[isoneguy]

That is actually a pretty stupid move. Claiming a hack like they did gets the price lower in a few hours only. That's what they want? I know there were websites coming with this excuse when they did not even have a hacker coming after them. Everyone wants money and I also know that me writing this message won't stop them, but it's a bad move. Thousands are going to leave Bitcoin because of a website getting hacked. Less people means a smaller Bitcoin price. Look at the charts and you'll see that Bitcoin went up VERY fast in the weeks before Bitfinex's hack, and then it went down and needed months to recover. We would have had over $1.500 already if that didn't happen, probably.

I'm not so sure, we're decentralized enough that 1 exchange will be maybe $100-200 of the price? It might even be futile...

[lol3c]

I agree. Remember the last hacking to the trading platform? It caused a big damage to the bitcoins' prices which made Bitcoin can not increase its price for at least 3 months. I will try not to involve in any trading platform or third party services.

[CryptoVzla]

Sometimes it is a bit scary when there is a big rise of bitcoin, many sites from one moment to another are "hacked"

I'm feeling this right now also because i don't see a TOP price for this coming days so it's like a bubble..

[nara1892]

I agree. Remember the last hacking to the trading platform? It caused a big damage to the bitcoins' prices which made Bitcoin can not increase its price for at least 3 months. I will try not to involve in any trading platform or third party services.

yeah. learning from past mistake is the best learning. so, in order to not be hacked, keep your coins safe on paper wallet maybe or another safe wallet, not on an exchange. or in other words, do not trade many coins in this some period of time. because I think there are not many stupid people who just save their coins in exchanges without strategy.

[Victorycoin]

Someone probably should never keep their extra coins in a exchange, if someone feel that they don't want to pay the fees of deposits everyday as they do trading everyday then they should just keep their capital in the exchange and take out the remaining btcs from there as it really can be dangerous.

Some people don't have a choice, for professional traders for example, it's impossible for them to withdraw and deposit for every trade

It has been pointed out overtime that an exchange is not a substitute for a bank, so after every exchange, best bet is to transfer your coins to a safe wallet. For those, who trade at exchange sites, leaving just enough to cover the average trading volume should do and when profits roll in, they have to be cashed out. Warren Buffet used to say, "The return of the capital is more important than the return on investment" One have to live, to be able to fight again tomorrow!

[richardsNY]

Sometimes it is a bit scary when there is a big rise of bitcoin, many sites from one moment to another are "hacked"

I'm feeling this right now also because i don't see a TOP price for this coming days so it's like a bubble..

I consider the current price to be somewhat overbought, but definitely not a bubble. If we continue seeing the price go up to like $1500 in the coming weeks, then it's clear that a bubble is forming. But as it is right now, it's too soon to put the label bubble on it. That's why people should keep holding their coins and not forget to secure profits every now and then.

[QuestionAuthority]

Sometimes it is a bit scary when there is a big rise of bitcoin, many sites from one moment to another are "hacked"

I'm feeling this right now also because i don't see a TOP price for this coming days so it's like a bubble..

I consider the current price to be somewhat overbought, but definitely not a bubble. If we continue seeing the price go up to like $1500 in the coming weeks, then it's clear that a bubble is forming. But as it is right now, it's too soon to put the label bubble on it. That's why people should keep holding their coins and not forget to secure profits every now and then.

All we need to do in order to make a shitload of money is be able to call the top then let it crash and call the bottom for a buy back in, buy back the exact amount of btc you sold at the top and pocket the profit.

[Chinesegandalf]

So what up , Any update about which site already "Got hacked" ? Hopefully there none been hacked yet for now because Bitcoin still UP UP AND AWAY !

[tigerwood0432]

I think most the big exchanges already put high security and all their bitcoins in cold storage

[alyssa85]

I think most the big exchanges already put high security and all their bitcoins in cold storage

You would think this, but the hacks have happened practically every six months since bitcoin launched.

The only exchange with insurance is coinbase. It would really stabalise the system if all the other exchanges got some insurance too - that way people would have confidence that they wouldn't lose money just because the exchange got sloppy with security.

[CryptoVzla]

I think most the big exchanges already put high security and all their bitcoins in cold storage

But what about an "inside job" ?  I think that the  Mt Gox was an inside job. They just wanted the money because they didn't believe in bitcoin

[mrcash02]

I think most the big exchanges already put high security and all their bitcoins in cold storage

You would think this, but the hacks have happened practically every six months since bitcoin launched.

The only exchange with insurance is coinbase. It would really stabalise the system if all the other exchanges got some insurance too - that way people would have confidence that they wouldn't lose money just because the exchange got sloppy with security.

Yes, we are never 100% safe, they can use the best technology security, but using online services there is always a risk to lose money, be hacked. I already took out all my funds from exchange for now and splitted my money between some sites as I don't use desktop wallet. This way I can reduce the risk to lose money or be hacked.

I didn't know about this Coinbase insurance, I will check, looks they are one step forward than another sites... Better for customers.

[GMPoison]

Keep your coins safe and off an online exchange!

[South Park]

Stop being paranoid about it. If you are worried about your bitcoin then start to use FULLY LICENSED EXCHANGES i.e. Gemini.
But no, you people complain that they have harsh KYC policy. Don't be pussies and stop complain about harsh KYC and be sure that your coins are safe.

An exchange with a license is as vulnerable as a not licensed exchange if they use the very same methods for the protection of the coins in this case having a license from a government does not mean automatically they have better security.