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

[ElectricMucus]

Never a dull day at MtGox HQ. The DDoSers must be milking every last chance before the big exchanges at CoinLab anf CoinSetter arrive. Once there is more than one big exchange, DDoS of any one will have much less effect.

Can't mention the DDOS scapegoat enough?
They simply pull the plug if a selloff is on the horizon.

Nobody except the suckers who can't get out believes it any more.

[1715164005]

1715164005

[elux]

https://devcentral.f5.com/blogs/us/layer-4-vs-layer-7-dos-attack

[just1nmc]

No wonder people don't want to buy on bitstamp right now, there's nothing for sale lol

[phatsphere]

And exactly how safe would you feel with a sizeable balance sitting in a bank in Slovenia, waiting to trade ?

Bitstamp actually uses one of the larger italian banks, called UniCredit. but you are right, no bank in europe is actually "safe".

[NamelessOne]

Never a dull day at MtGox HQ. The DDoSers must be milking every last chance before the big exchanges at CoinLab anf CoinSetter arrive. Once there is more than one big exchange, DDoS of any one will have much less effect.

Can't mention the DDOS scapegoat enough?
They simply pull the plug if a selloff is on the horizon.

Nobody except the suckers who can't get out believes it any more.

I can't agree that a sell off was on the horizon. There was certainly a downtrend for the last 20 or so hours though, but it was gradual enough.

[ElectricMucus]

Never a dull day at MtGox HQ. The DDoSers must be milking every last chance before the big exchanges at CoinLab anf CoinSetter arrive. Once there is more than one big exchange, DDoS of any one will have much less effect.

Can't mention the DDOS scapegoat enough?
They simply pull the plug if a selloff is on the horizon.

Nobody except the suckers who can't get out believes it any more.

I can't agree that a sell off was on the horizon. There was certainly a downtrend for the last 20 or so hours though, but it was gradual enough.

They might have better tools of predicting that though.
A watchlist for the largest BTC holdings and when they log in?
I don't really like coming up with stuff they can potentially do, but just taking their word for granted isn't either for me.

[just1nmc]

Never a dull day at MtGox HQ. The DDoSers must be milking every last chance before the big exchanges at CoinLab anf CoinSetter arrive. Once there is more than one big exchange, DDoS of any one will have much less effect.

Can't mention the DDOS scapegoat enough?
They simply pull the plug if a selloff is on the horizon.

Nobody except the suckers who can't get out believes it any more.

I can't agree that a sell off was on the horizon. There was certainly a downtrend for the last 20 or so hours though, but it was gradual enough.

They might have better tools of predicting that though.
A watchlist for the largest BTC holdings and when they log in?
I don't really like coming up with stuff they can potentially do, but just taking their word for granted isn't either for me.

What kind of sell off do you think they are trying to prevent though? There have been quite a few ~BTC5k sell offs in the past few days that recovered fine

[phoenix1]

And exactly how safe would you feel with a sizeable balance sitting in a bank in Slovenia, waiting to trade ?

Bitstamp actually uses one of the larger italian banks, called UniCredit. but you are right, no bank in europe is actually "safe".

My Euro transfer went to Slovenia. Do they then transfer it to a USD account in Italy ?

[phatsphere]

And exactly how safe would you feel with a sizeable balance sitting in a bank in Slovenia, waiting to trade ?

Bitstamp actually uses one of the larger italian banks, called UniCredit. but you are right, no bank in europe is actually "safe".

My Euro transfer went to Slovenia. Do they then transfer it to a USD account in Italy ?

no. unicredit just operates in many countries. check their website, i'm not an expert. just telling you that this is not one of the smaller banks …

[ElectricMucus]

What kind of sell off do you think they are trying to prevent though? There have been quite a few ~BTC5k sell offs in the past few days that recovered fine

Well according to this the ones significantly above 5k. I don't know any exact figures but if you look at the volume of the flash crash from the top there must have been some serious coin involved.

[phoenix1]

And exactly how safe would you feel with a sizeable balance sitting in a bank in Slovenia, waiting to trade ?

Bitstamp actually uses one of the larger italian banks, called UniCredit. but you are right, no bank in europe is actually "safe".

My Euro transfer went to Slovenia. Do they then transfer it to a USD account in Italy ?

no. unicredit just operates in many countries. check their website, i'm not an expert. just telling you that this is not one of the smaller banks …

Thanks - stupid question with hindsight 

[Kazu]

Minirally going on? Bitstamp $115, Btc-E $109?

So I'm seeing gox falling to ~bitstamps $115.

[BitcoinAshley]

Stop whining and use another exchange already.

What other exchanges are there?!

Btce is infested with java exploit links and its based in russia. Could use Bitstamp but they might be overwhelmed and get their bank account shut just as it happened with bitfloor, bitcoin24.

Check out CampBX. Many funding options, even USPS money order by mail. They also seem to be in tune with [albeit vague existing] regulatory requirements so are less like to be randomly shut down than some of these fly-by-night new exchanges.

Low volume right now but I expect as the "new kid on the block" they will swallow up a lot of ex-Goxs and ex-Bitfloors.

[wonkytonky]

Never a dull day at MtGox HQ. The DDoSers must be milking every last chance before the big exchanges at CoinLab and CoinSetter arrive, and before BitStamp gets bigger. Once there is more than one big exchange, DDoS of any one will have much less effect. Meanwhile the entire system grows stronger every time it is attacked, with the attackers being rewarded for their services in strengthening the system, effectively paving the way for further growth.

Without the attacks that have been occurring at a billion-dollar market cap, Bitcoin wouldn't be ready for the kinds of attacks that will come at ten and a hundred billion dollars.

although i'm loosing probably a lot of fiat now with these attacks..   I agree with this totaly..

[elux]

[just1nmc]

What kind of sell off do you think they are trying to prevent though? There have been quite a few ~BTC5k sell offs in the past few days that recovered fine

Well according to this the ones significantly above 5k. I don't know any exact figures but if you look at the volume of the flash crash from the top there must have been some serious coin involved.

I guess anything's possible. But considering all the problems in their trading platform, I tend to doubt they have the capability to predict crashes.

[ineededausername]

DDoS Attacks End Here

[cedivad]

Thank you elux, really interesting.

[cedivad]

Thank you elux, really interesting.

Interesting, but that is not today's attack.

Yes, i noticed it.
Today's one is probably bigger, IMO.

[BitcoinAshley]

Nah this is totally a shoop. CONSPIRACY!!! Prolexic isn't even a real company, Gox just made them up.

(In seriousness: They're learning a thing or two about transparency. They should release this third-party event report (along with a way to verify it via the third party) after each and every single claimed DDoS event.)

I have an idea! Why doesn't Gox publish the source IPs on twitter, so we can all point LOIC at them? (disclaimer I'm a complete DDoS newb and i'm sure there's some reason that 'firing back' doesn't work, so this is probably a stupid idea .)

(Forum etiquette - quote pruning pro-tip - prune large images in quoted replies by throwing in a height= width= into the [img] tag, make people's scroll fingers happy )