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

[adamstgBit]

[MinermanNC]

Just in,,, now this scares me more than a 51% ... ouch!!!

http://www.coindesk.com/500-million-dogecoin-mined-hacker-malware-attack/

why, are you heavily invested in DOGE?

no I'm not invested in doge , make most of my money off of crypto alts tho, so this is kind of shocking that a hacker could be so clever enough to pull this off.. sorry for the misunderstanding I have never been a doge fan btw lol

[MinermanNC]

Just in,,, now this scares me more than a 51% ... ouch!!!

http://www.coindesk.com/500-million-dogecoin-mined-hacker-malware-attack/

Technically the attacker stole computing power from a service a provider; he didn't steal dogecoins. It wasn't crypto's fault.

even if he did, it wouldn't have been

very true, its the vulnerability of it all, seems hackers just keep finding ways to steal other peoples coins or get coins they didn't earn or pay for lol amazing

[KFR]

What the hacker did is not shocking - botnet nodes are installed anywhere and everywhere they can get their hands on these days for all kinds of purposes.  That bit ain't hard.  It ain't hard because dumb people and bad IT departments don't take sufficient precautions.  No mystery there - if you don't want someone driving off in your car, don't leave the keys in it etc.

What was shocking was how much time passed while neither the hardware supplier involved nor any of their customers worked out that their equipment was both vulnerable and being used by an unknown third party.

But at the end of the day a $200k heist of distributed computing power amounts to less than a drop in the ocean.  We're talking homeopathic levels.   

[ChartBuddy]

Explanation

[aminorex]

We're talking homeopathic levels. 

Don't homeomorphize hashes -- they hate that.

[KFR]

 

On an unrelated note, Huobi order book is looking interesting at the moment.  

[aminorex]

On an unrelated note, Huobi order book is looking interesting at the moment.  

Reminds me of october/november, when coins would run out but demand would just keep ripping through the hail-mary offers faster than you could bid.  But it would get arbed now.  Supply would come.

[adamstgBit]

[STT]

^^ Thats not a statement on btc or gold, its a comment on dollars.  You could put a picture of anything in there, custard slices 2016 $1,000!!!!!!
Just had the highest rise in core inflation for 3 years..


Iam amazed he was using cpu mining and doge is really high difficulty for an alt coin.   Sounds like an incredible waste of energy and those poor lagged users betrayed by another useless IT dept fobbing them off with all sorts of crap no doubt.   Eventually users start quitting or not renewing their contracts, hence the months long time to discover and/or do any investigative action

[ChartBuddy]

Explanation

[Richy_T]

Once I met at lunch the prof from our Mechanical Engineering dept who wrote the report that pointed out the problem and eventually convinced the government to order the recall.  It was not a easy struggle to overcome the Fiat lobbyists and lawyers, and I don't think that he got more than his expenses refunded.

Which just goes to show that sensible academics don't support fiat.

[ChartBuddy]

Explanation

[Richy_T]

[aminorex]

I still like him better in Pulp Fiction.

[ChartBuddy]

Explanation

[ShroomsKit]

Ya know what sux, last night I sold a coin at 595.00 wanting it to hit the bank by Friday, and of course BTC now, 24 hrs. later is up 25 bux ... Oh well 

Yeah well, that's what you get if you sell while all the signs says we're going up.

[Bitcoin_is_here_to_stay]

There are a lot of people waiting to take profits off the table as soon as we cross $600...  Either that or a lot of people trying to cut losses..

Can be both

[Bitcoin_is_here_to_stay]

Once I met at lunch the prof from our Mechanical Engineering dept who wrote the report that pointed out the problem and eventually convinced the government to order the recall.  It was not a easy struggle to overcome the Fiat lobbyists and lawyers, and I don't think that he got more than his expenses refunded.

Which just goes to show that sensible academics don't support fiat.

You made my day 

[Richy_T]

I still like him better in Pulp Fiction.