yrtrnc
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February 14, 2014, 01:44:14 PM |
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600watt
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Activity: 2338
Merit: 2106
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February 14, 2014, 01:49:32 PM |
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this building is in much better shape than gox
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TERA
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February 14, 2014, 02:03:45 PM |
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Dragonkiller
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Activity: 378
Merit: 250
Super Smash Bros. Ultimate Available Now!
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February 14, 2014, 02:04:39 PM |
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Lol I don't know why everyone makes a big deal about the drink like it's the most important thing going on, it's just a regular drink from Starbucks as far as I can tell.
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yrtrnc
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February 14, 2014, 02:05:05 PM |
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this building is in much better shape than gox Hahahahahaa
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Hypnoise
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February 14, 2014, 02:06:58 PM |
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in the box with a gox let me out silly fox
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mmitech
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things you own end up owning you
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February 14, 2014, 02:08:28 PM |
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Lol I don't know why everyone makes a big deal about the drink like it's the most important thing going on, it's just a regular drink from Starbucks as far as I can tell. there is no backdoor/coding problem at mtgox, the problem is simple, Mark keeps eating your bitcoins, it is clearly what is happening you can check your self on that video hahahahahaha
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surfer43
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"Trading Platform of The Future!"
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February 14, 2014, 02:10:57 PM |
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haha so true
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Dragonkiller
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Activity: 378
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Super Smash Bros. Ultimate Available Now!
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February 14, 2014, 02:11:30 PM |
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Lol I don't know why everyone makes a big deal about the drink like it's the most important thing going on, it's just a regular drink from Starbucks as far as I can tell. there is no backdoor/coding problem at mtgox, the problem is simple, Mark keeps eating your bitcoins, it is clearly what is happening you can check your self on that video hahahahahaha Lol I think they have lost a significant amount of coins (enough that they can't even do fractional reserve goxing) or Mark is the most incompetent man on Earth. Not sure which is more likely, but starting to think it's the former because surely by now he would have made at least some sort of attempt to prove solvency and stop the carnage.
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maximum
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February 14, 2014, 02:12:18 PM |
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fat pigs should get slaughtered lol
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Dragonkiller
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Activity: 378
Merit: 250
Super Smash Bros. Ultimate Available Now!
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February 14, 2014, 02:18:25 PM |
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Lol I don't know why everyone makes a big deal about the drink like it's the most important thing going on, it's just a regular drink from Starbucks as far as I can tell.
It was just funny how his second encounter with a protester matched the description of the previous Australian guy.
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Denton
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February 14, 2014, 02:21:38 PM |
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Ideal scenario: Gox fixes withdrawals, all fiat on gox gets turned to btc and everyone leaves gox.
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GreekGeek
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February 14, 2014, 02:33:02 PM |
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Ideal scenario: Gox fixes withdrawals, all fiat on gox gets turned to btc and everyone leaves gox.
So who gets the fiat/cash , I guess Gox does...
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hdbuck
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February 14, 2014, 02:36:31 PM |
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Ideal scenario: Gox fixes withdrawals, all fiat on gox gets turned to btc and everyone leaves gox.
So who gets the fiat/cash , I guess Gox does... meanwhile, Gox offices in japan...
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fonzie
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February 14, 2014, 02:38:17 PM |
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porcupine87
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February 14, 2014, 02:42:53 PM |
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Ideal scenario: Gox fixes withdrawals, all fiat on gox gets turned to btc and everyone leaves gox.
yeah, unfortunately you need a seller if you want to buy^^
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fonzie
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February 14, 2014, 02:43:47 PM |
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Ideal scenario: Gox fixes withdrawals, all fiat on gox gets turned to btc and everyone leaves gox.
yeah, unfortunately you need a seller if you want to buy^^ Indeed, ask side on MT.Gox is complete empty.
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stompix
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Leading Crypto Sports Betting & Casino Platform
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February 14, 2014, 02:44:51 PM |
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Ideal scenario: Gox fixes withdrawals, all fiat on gox gets turned to btc and everyone leaves gox.
yeah, unfortunately you need a seller if you want to buy^^ Yeah probably the moment gox fixes btw withdrawals , all the btc wil be gone and headed to bitstamp.
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JorgeStolfi
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February 14, 2014, 02:47:43 PM |
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Let's se if understood correctly. The "malelability" of transaction requests can cause two problems:
* First, old or custom wallet software may broadcast out "non-canonical" transaction requests (like writing "$020,0" on check instead of "$20,00").
Such requests were originally accepted by the bitcoin network, but a few months ago the protocol was tightened and they started being rejected.
An exchange that issued such a request in order to execute bitcoin withdrawals by clients had to either re-issue the transaction request, or cancel the withdrawal and credit back those bitcoins to the client's account. If the exchange did either of these two things, the result would be only annoyance to clients as their withdrawals were delayed or failed. If the exchange did not do either of those things, the bitcoins would be subtracted from the client's account but would remain in the exchange's own wallet. If the exchange also failed do proper accounting (which it probably did, or else it would have detected the problem), it may have believed that the apparent BTC surplus (bitcoins in its own wallet minus sum of all bitcoins in the clients accounts) was its profit from fees; and therefore converted that surplus into dollars to pay for expenses and dividends. In extreme situations, the exchange may become insolvent (unable to produce enough bitcoins and dollars to honor all its client's accounts.)
* Second, some hackers exploited the malleability to steal coins from any exchange that issued non-canonical requests. The hacker would open an account at the exchange, put some bitcoins there, and request a withdrawal. He would then watch for the corresponding transaction request as it was broadcast by the exchange, and would broadcast a mutated copy (like changing "$020" to "$20"). The network would execute the "canonical" version and reject the original for being non-canonical (and also an attempted double spend).
The exchange would then think that the transaction had failed, and therefore would either re-try it, or cancel the withdrawal and credit back the coins to the hacker's account. In the first case the hacker would get the withdrawal executed two or more times but debited only once; in the second case he would get the withdrawal executed without his account being debited. Repeat to taste.
Again, this hack could be spotted imediately if the exchange kept proper accounting, as it would notice that the coins were taken out from its own wallet in spite of the transaction being apparently rejected.
Is this understanding correct?
If so, does anyone know whch exchanges had which of these problems, and how many bitcoins they overspent or had stolen?
It seems that for MtGOX the amount involved is at least 50,000 BTC or more, and one of those two problems had been occurring for several months. How could they fail to notice and diagnose such a big problem?
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yrtrnc
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February 14, 2014, 02:52:16 PM |
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Its going sideways, again
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