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Author Topic: MtGox withdrawal delays [Gathering]  (Read 877233 times)
BitPaulo
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February 14, 2014, 01:50:55 AM
 #4121

no issues with Kraken, who have already said they don't do their accounting on malleable transaction ID's - which is in truth, what has caused the problem, and not the malleable issue itself.

Yes, there is a key distinction between TxID malleability - a minor flaw in the protocol that would ideally be fixed eventually - and exchanges depending on them for their bespoke accounting software, against the advice of the core devs and in contrast to other wallets/exchanges.

It is the latter that caused all the issues. Gox dun goofed.

Great summary
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itsunderstood
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February 14, 2014, 02:11:13 AM
 #4122

Haha, as long as BTC community hates drugs, this is a clown show where only LEO gets rich.  That's why I mentioned wallets back on page whatever.

Like I said, IT dumbshits working for corporate forms, will lose to criminals working all night.  It's fog of war, as I said, so hold steady.

Quote
http://rt.com/usa/silk-road-hack-bitcoin-millions-947/

Thursday when an administrator who identified himself as “Defcon” explained on the site's forums what had happened.

“I am sweating as I write this...I must utter words all too familiar to this scarred community: We have been hacked,” he wrote. “Our initial investigations indicate that a vendor exploited a recently discovered vulnerability in the bitcoin protocol known as 'transaction malleability' to repeatedly withdraw coins from our system until it was completely empty.

Defcon did not disclose the exact number of bitcoin that was stolen yet Nicholas Weaver, a researcher at the International Computer Science Institute, told Forbes that approximately 4,400 coins were taken, equaling about $2.6 million.

Check out my prescient ATS thread from 2008: "Windows XP: End the Cyberwar, Open the Code Now!" http://www.abovetopsecret.com/forum/thread411978/pg1
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February 14, 2014, 03:34:10 AM
 #4123


I don't get this. Why is everybody selling their BTC ? Fiat withdrawal is almost not possible.

Not only that, but I hate to see people (possibly) aiding Karpeles in his attempt to manipulate the market in order to make MtGox solvent.

If you believe what some people are saying here, then the BTC withdrawal freeze is an attempt to drive the price down so that MtGox can afford to buy the BTC they're going to need when they unfreeze withdrawals and everybody runs for the exit and tries to transfer their BTC out.

If that's true, then I'd prefer to see everybody cancel their sell orders to keep the price from dropping. I know they're thinking that they'd rather get *some* fiat for their BTC, but this means that Karpeles might be able to actually pull it off. Personally, I'd rather risk losing my BTC in order to make Karpeles conclude that this gambit isn't going to work and force him to finally come clean about how he screwed up.
zyk
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February 14, 2014, 04:32:50 AM
 #4124

Mr. Sturle.......let me say I really feel for you when really not one of Mark´s cronies.....but thats what IRC blubber is

ment to do...instill hope...

but have you gotten your SEPA withdrawl yet ?

Thanks

sturle
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February 14, 2014, 06:28:30 AM
 #4125

but have you gotten your SEPA withdrawl yet ?
No, I don't expect it until the end of the week, the earliest.

Sjå https://bitmynt.no for veksling av bitcoin mot norske kroner.  Trygt, billig, raskt og enkelt sidan 2010.
I buy with EUR and other currencies at a fair market price when you want to sell.  See http://bitmynt.no/eurprice.pl
Warning: "Bitcoin" XT, Classic, Unlimited and the likes are scams. Don't use them, and don't listen to their shills.
BitPaulo
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February 14, 2014, 07:22:24 AM
 #4126

Where can we find out how many BTC and Fiat are left at MtGox? Is it possible?
I mean from users' account, not from MtGox accounting system.
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February 14, 2014, 07:56:04 AM
 #4127

[Suspicious link removed]j.com/japanrealtime/2014/02/14/bitcoin-protester-confronts-mt-gox-executive/
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February 14, 2014, 08:39:52 AM
 #4128

Promising news on github:

Quote
MagicalTux commented 4 hours ago
Just to update this thread, it seems that this discussion is mostly stale now. We (at MtGox) will implement this new hash index in our transactions database and start working with it (we will announce a maintenance as we will have to stop bitcoin deposits too during the database schema update) and will start providing this new hash when customers are withdrawing bitcoins, litecoins, or any other coin based on Bitcoin we may support in the future.

We will also provide an API that will allow our customers to use this hash to retrieve the transaction hash as seen in the blockchain once the transaction is confirmed, and will hope others (blockchain.info?) will index this value one day.

We also invite other exchanges and businesses which may need to keep track of bitcoins they send to use this same method, since dealing with multiple variations of the same thing wouldn't be very productive.

If nobody does it, we will also post some test vectors for regular (in=>out) transactions in the near future.

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Newar
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February 14, 2014, 08:48:52 AM
 #4129

[Suspicious link removed]j.com/japanrealtime/2014/02/14/bitcoin-protester-confronts-mt-gox-executive/

http://tinyurl.com/ka5p6ll

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itsunderstood
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February 14, 2014, 08:55:07 AM
 #4130

[Suspicious link removed]j.com/japanrealtime/2014/02/14/bitcoin-protester-confronts-mt-gox-executive/

http://tinyurl.com/ka5p6ll

wow what an ass.

Check out my prescient ATS thread from 2008: "Windows XP: End the Cyberwar, Open the Code Now!" http://www.abovetopsecret.com/forum/thread411978/pg1
whave
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February 14, 2014, 09:15:20 AM
 #4131

Darknet marketplace silk road was hacked yesterday and 8000+ BTC were stolen (estimate) from the escrow wallets - some are saying regular wallet BTC is gone too, conflicting infos on the boards. Admins are blaming it on the malleable transaction IDs, while experts are saying that could not result in stolen coins.

Whenever these drug marketplaces rise/fall, it usually affects the BTC price. Just a thing to keep in mind.
Bitnicity
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February 14, 2014, 09:25:29 AM
 #4132

I don't understand why heck people still believe they have a better hand holding fiat in the event Gox is insolvent (legally? give me a break), it always is a cheaper solution for Gox to bail their ass out of this shit by paying BTC holder v.s fiat holder given the cheap coins they could purchase to return back to holders.

If Gox goes down, there is no way they will pay fiat holders v.s paying btc holders, if there are really insolvency holes  there, the btc hole will be the one that is easy to fill up, so forget about selling your btc and hope you could somehow withdraw fiat as your "exit strategy"; you will be trapped there forever and once btc withdrawal resume, you will be paying huge premium to buy btc at Gox to exit, hence being Goxed twice.  
hamma
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February 14, 2014, 09:39:15 AM
 #4133

Does anyone know why in the last hour or so while Gox price is getting slaughtered, massive bids pop up on  Bitstamp and keep pushing the price up at the same time.

Is someone illegally trading at Bitstamp or GOx based on some inside information?

Edit: ...Or is there some new type of anti-arbitrage going on...?




Newar
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February 14, 2014, 09:40:56 AM
 #4134


Does anyone know why in the last hour or so while Gox price is getting slaughtered, massive bids pop up on  Bitstamp and keep pushing the price up at the same time.

Is someone illegally trading at Bitstamp or GOx based on some inside knowledge?


Maybe because BTC withdrawals are back at bitstamp, but still not possible on Gox?

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Hen0xyd
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February 14, 2014, 09:41:54 AM
 #4135

Promising news on github:
Quote
MagicalTux commented 4 hours ago
Just to update this thread, it seems that this discussion is mostly stale now. We (at MtGox) will implement this new hash index in our transactions database and start working with it (we will announce a maintenance as we will have to stop bitcoin deposits too during the database schema update) and will start providing this new hash when customers are withdrawing bitcoins, litecoins, or any other coin based on Bitcoin we may support in the future.

We will also provide an API that will allow our customers to use this hash to retrieve the transaction hash as seen in the blockchain once the transaction is confirmed, and will hope others (blockchain.info?) will index this value one day.

We also invite other exchanges and businesses which may need to keep track of bitcoins they send to use this same method, since dealing with multiple variations of the same thing wouldn't be very productive.

If nobody does it, we will also post some test vectors for regular (in=>out) transactions in the near future.

Indeed Mark seems to be pretty active nowadays on GitHub/IRC, this is probably the "quick fix" MtGox was talking about in 10th Feb. announcement.
It's a (probable) step forward and I guess they'll have to enable the btc withdrawal one day anyway, the sooner the better for their longrun even if Mtgox is currently buying all cheap coins to sell it premium while everyone will need them to run away from mtgox.

If Gox goes down, there is no way they will pay fiat holders v.s paying btc holders, if there are really insolvency holes  there, the btc hole will be the one that is easy to fill up, so forget about selling your btc and hope you could somehow withdraw fiat as your "exit strategy"; you will be trapped there forever and once btc withdrawal resume, you will be paying huge premium to buy btc at Gox to exit, hence being Goxed twice.  

Totaly agree, I can't understand why everyone is selling btc half the price they paid them some weeks ago.
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February 14, 2014, 09:42:48 AM
 #4136

Mtgox pretty much imploded i'm in for more Btc watching the prices plummet Smiley
hamma
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February 14, 2014, 09:48:40 AM
 #4137


Does anyone know why in the last hour or so while Gox price is getting slaughtered, massive bids pop up on  Bitstamp and keep pushing the price up at the same time.

Is someone illegally trading at Bitstamp or GOx based on some inside knowledge?


Maybe because BTC withdrawals are back at bitstamp, but still not possible on Gox?

...looks like they did know just before the announcement... the owners of those large Bitstamp bids are guilty  of inside trading!!!
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February 14, 2014, 09:56:00 AM
 #4138

I would not recommend MtGox Smiley

So maybe just stop using it ;P

 
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February 14, 2014, 09:58:09 AM
 #4139

RIP, Gox.... Sturle, you owe me 1 BTC.
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February 14, 2014, 09:59:26 AM
 #4140

...looks like they did know just before the announcement... the owners of those large Bitstamp bids are guilty  of inside trading!!!

Maybe they had their withdrawals pending and watched their receiving addresses. As soon as one tx came finally through they put in the orders.

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