Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[aminorex]

...secure...

I don't see any point in describing flaws.  You suggested many good measures.  You did not provide a plan.  A plan requires a threat model.  A realistic threat model is a portfolio model.  A proper security plan was not being described, merely some high security measures.  A plan can only have flaws relative to a threat model.

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[aminorex]

I guess not looking like idiot is hard in your case but people have done bigger things while trying hard

Like your mom?

[JorgeStolfi]

It seems like Bitfinex is doin much more Volume than Bitstamp in the last days.

Where do you get that from? Bitcoinaverage seems generally reliable on this, and they have stamp before finex

The proportions of volumes in that table match those I got from Bitcoinwisdom, but the values are somewhat higher.

For yesterday Feb/20, 00:00 -- 23:59 UTC,  Bitcoinwisdom had Bitstamp ~35,000 BTC, Bitfinex ~25,000, and BTC-e ~23,000.  

Perhaps that table uses a different 24-hour period.

Anyway, for the last week, Bitfinex has generally been distant second to Bitstamp, with BTC-e only a little below it.

EDIT: but the rankings and percentages assume that  MtGOX is excluded, of course.

[CoolStoryBro]

Today on #bitcoin
....
gmaxwell: e.g. they noticed lots of txn getting stuck, they didn't understand it was because they were producing invalid txn (even though it was reported to them) and so they thought it was just 'full blocks'
gmaxwell: and they increased their fees from 0.0001 to 0.0005 — which was enough to may more than virtually every txn— and then later to 0.001 which is basically astronomic. And then they made it mandatory.
gmaxwell: of course their stalled txn had nothing to do with fees.

Edit: Just to clarify, only quoted relevant parts (maybe I should have inserted "[...]" where applicable). Full text here: http://pastebin.com/DaSph9uT

OMFG I was unaware of these facts! This is MINDBLOWING. How gox is still (sort of) going is beyond me. They were warned about all this, and they thought fees would solve their problems? I remember my last withdrawal from them annoying me because of having to pay what I though was a huge fee! (Well it was like a weeks mining profit for me!) My understanding of bitcoin is MINIMAL. I am not a techy type AT ALL, and I understood the mandatory transfer fee to be absurd. How the f$%& did these guys make their own custom wallet software and not lose everything when they make mistakes like this?

I'm fairly sure it's not about commission fee, but rather transaction fee which is paid by GOX (and taken from you first, but it's irrelevant for this question)

[Richy_T]

...secure...

I don't see any point in describing flaws.  You suggested many good measures.  You did not provide a plan.  A plan requires a threat model.  A realistic threat model is a portfolio model.  A proper security plan was not being described, merely some high security measures.  A plan can only have flaws relative to a threat model.

He did not store his one-time-pad which was on the hard-drive that was later formatted. Or at least did not mention it.

[seleme]

I guess not looking like idiot is hard in your case but people have done bigger things while trying hard

Like your mom?

I see brain and age not matured retards are in numbers here 

Yeah, guess it comes with territory and anxiety 

[magicmexican]

The day of false hopes, looks like we will end up below 100 again

[Jasmin68k]

Today on #bitcoin

gmaxwell: wumpus: yea, I understand they had timed automatic reissues... Sad this was also something I didn't know prior to monday before last and is one of the other reasons my "they couldn't have lost much!" position softened to "I have no freeking clue."
alpha125: gmaxwell: where did you find out abotu the automatic reissues?
gmaxwell: alpha125: from mtgox staff and magicaltux ... I had assumed previously that any reissues were manual via customer support but apparently it was just timed.
gmaxwell: you'll also note that they've kept increasing their fees and then even mad paying fees mandatory.
gmaxwell: This suggested to me that they totally misunderstood their problems. (and— I reported that I believed this months ago too)
gmaxwell: e.g. they noticed lots of txn getting stuck, they didn't understand it was because they were producing invalid txn (even though it was reported to them) and so they thought it was just 'full blocks'
gmaxwell: and they increased their fees from 0.0001 to 0.0005 — which was enough to may more than virtually every txn— and then later to 0.001 which is basically astronomic. And then they made it mandatory.
gmaxwell: of course their stalled txn had nothing to do with fees.

Edit: Just to clarify, only quoted relevant parts (maybe I should have inserted "[...]" where applicable). Full text here: http://pastebin.com/DaSph9uT

Originally posted here: https://bitcointalk.org/index.php?topic=178336.msg5278421#msg5278421

[Davyd05]

The uncertainty is neck high

[Jasmin68k]

That pastebin was taken completely out of context. The user on here who posted it also apologised to gmaxwell on IRC for posting it

As I said earlier on IRC, I did not mean to step on anyone's toes, especially not gmaxwell's. I had no context, since I joined the channel just moments before. I did just mean to provide information and don't have any $/BTC on Gox. Didn't mean to spread FUD/fear and have no agenda, the post was meant to be informative in nature only.

Should there be any relevant context, that changes the perceived meaning, someone please post it.

[JorgeStolfi]

He did not store his one-time-pad which was on the hard-drive that was later formatted. Or at least did not mention it.

Yes. 

The point of that "stupid joke" was to point out how easily a tiny mistake can turn a strong security scheme into an epic disaster.

The mutlibillion-dollar accident at Three Mile Island began with a faulty safety valve in a redundant part of the cooling system.  The "tiny mistake" was that the corresponding light in the control panel did not show whether the valve was actually closed, but only whether it had been commanded to close.

I am sure there are better examples in computer security but I don't recall one right now.

[Patel]

That pastebin was taken completely out of context. The user on here who posted it also apologised to gmaxwell on IRC for posting it

As I said earlier on IRC, I did not mean to step on anyone's toes, especially not gmaxwell's. I had no context, since I joined the channel just moments before. I did just mean to provide information and don't have any $/BTC on Gox. Didn't mean to spread FUD/fear and have no agenda, the post was meant to be informative in nature only.

Should there be any relevant context, that changes the perceived meaning, someone please post it.

But the information that was posted, is believed to be true? So whats wrong with the context?

[oda.krell]

That pastebin was taken completely out of context. The user on here who posted it also apologised to gmaxwell on IRC for posting it

As I said earlier on IRC, I did not mean to step on anyone's toes, especially not gmaxwell's. I had no context, since I joined the channel just moments before. I did just mean to provide information and don't have any $/BTC on Gox. Didn't mean to spread FUD/fear and have no agenda, the post was meant to be informative in nature only.

Should there be any relevant context, that changes the perceived meaning, someone please post it.

Seriously, don't apologize.

I mean, what the hell? If it's on IRC, you're free to show it to the rest of the world, simple as that. And "lack of context"? What the fuck. It's a pretty long log, so it's hardly a single line or two "taken out of context".

Really, if you submitted that log, thanks!

[billyjoeallen]

we're going below 500.

We're going below your mom.

Stay class Billyboy, stay classy...

In real world you would need to prove that point with your fists and strength of your teeth but this is Internet so staying classy is best way to not look like an idiot. I guess not looking like idiot is hard in your case but people have done bigger things while trying hard

You mom doesn't like it when I use fists and teeth. Four fingers at the most.

[adamstgBit]

we're going below 500.

IDK about that, i might i start posting video clips from 300 pretty soon

 

[mmitech]

we're going below 500.

We're going below your mom.

Stay class Billyboy, stay classy...

In real world you would need to prove that point with your fists and strength of your teeth but this is Internet so staying classy is best way to not look like an idiot. I guess not looking like idiot is hard in your case but people have done bigger things while trying hard

You mom doesn't like it when I use fists and teeth. Four fingers at the most.

Seriously, what is wrong with someone saying "we're going below 500" ?  I think we will go below 400 a flash crash maybe ? who knows, take your feelings out of this, I do hold allot of wealth in Bitcoin, but this cant stop Bitcoin from going down, also trashing other members wont stop it..... you will look silly if it happens.... I've been there

[tarmi]

I have also noticed another bitcointalk thing.

when we are in a downtrend, big hodlers like goat, rpietila, loaded, etc, are nowhere to be found in this thread. we have just a bunch of aggressive minions instaed.

[fonzie]

we're going below 500.

We're going below your mom.

Stay class Billyboy, stay classy...

In real world you would need to prove that point with your fists and strength of your teeth but this is Internet so staying classy is best way to not look like an idiot. I guess not looking like idiot is hard in your case but people have done bigger things while trying hard

You mom doesn't like it when I use fists and teeth. Four fingers at the most.

You are such a low life. Incredible

[mmitech]

I also noticed another bitcointalk thing.

when we are in a downtrend, big hodlers like goat, rpietila, loaded, etc, are nowhere to be found in this thread. we have just a bunch of aggressive minions instaed.

Goat and Risto are long gone from this thread, Risto said that he will come back when we hit low 500 as he predicted, I dont know for Goat, maybe he is busy Mining ? Loaded was never a daily poster....

[tarmi]

I also noticed another bitcointalk thing.

when we are in a downtrend, big hodlers like goat, rpietila, loaded, etc, are nowhere to be found in this thread. we have just a bunch of aggressive minions instaed.

Goat and Risto are long gone from this thread, Risto said that he will come back when we hit low 500 as he predicted, I dont know for Goat, maybe he is busy Mining ? Loaded was never a daily poster....

I think they will all show up if the price is low enough.