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Author Topic: When will it be possible to trade on MtGox again?  (Read 2554 times)
Neyo
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June 21, 2011, 06:51:10 AM
 #1

The only info from MtGox is that "Once it is deemed enough users had the chance to get their account back, the exchange will be open again (opening time will be announced at least 24 hours in advance". What does that mean, one day or one week?
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rb1205
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June 21, 2011, 07:26:19 AM
 #2

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[Update - 5:00GMT]

We are still working to get the claim site up. People are probably getting tired of us pushing the time so we're just going to say it should be very soon. We'll update as soon as it's up.

Thank you for your continued patience.

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June 21, 2011, 07:30:38 AM
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[Update - 5:00GMT]

We are still working to get the claim site up. People are probably getting tired of us pushing the time so we're just going to say it should be very soon. We'll update as soon as it's up.

Thank you for your continued patience.


That site being up wouldn't mean anything per se because trading will be open only "Once it is deemed enough users had the chance to get their account back". How long is that?
ukbitco.in
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June 21, 2011, 11:32:11 AM
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Depends entirely on how many people attempt to reclaim their password quickly and how much needs to be done manually. Realistically IMO we are looking at the end of the week.

Sebz4n
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June 21, 2011, 01:28:19 PM
 #5

The site is down isn't it? Mine is just loadng and loading and loading...
hamdi
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June 21, 2011, 02:09:34 PM
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i so hope it comes back soon! love mtgox

dev^
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June 21, 2011, 02:12:14 PM
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I'd guess most users just want to grab all their BTC/$ and get the hell out of there...
Mt. Gox lost all trust due to their "crisis management", in my opinion.
danuker
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June 21, 2011, 04:08:18 PM
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Indeed. I am incredibly glad I didn't leave anything there.
InterArmaEnimSil
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June 21, 2011, 04:51:05 PM
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You guys are kidding, right?  They weren't hacked, this experience will make them change and improve their security procedures for DBAs, and they've been hard at work since the event happened to improve security and bring everything back up for everyone.  What would you have preferred they do?  In my opinion, they've demonstrated professionalism, and I look forward to the improvements which the problem will engender.  We can't expect them to identify security holes on a contractor's computer, and its unrealistic to think they'd be invulnerable to attack, especially considering the massive amount of money that flows through there each day.  They're not prophets or fortune tellers, they're regular people, and they've reacted to this situation as well as any person could. 


I'm getting emails from the operator of TradeHill trying to exploit the situation...glhf faring any better in security when all eyes are on you.

12aro27eH2SbM1N1XT4kgfsx89VkDf2rYK
martin
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June 21, 2011, 05:00:29 PM
 #10

Mtgox has been shoddily programmed since the start (unsalted md5 passwords, seriously? Md5 was showing signs of being broken 15 years ago), and there were a whole load of basic things that they could have done to prevented this hack having such a huge impact (eg. Circuit breakers anyone?).

I'm lucky enough to have taken all my money out of mtgox a few weeks ago, and I shan't be tradin with them again. I fail to understand why *anyone* would wish to trade with them again.

speeder
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June 21, 2011, 05:08:07 PM
 #11

I dislike circuit breakers.

And unsalted md5 was work of the previous owner, the new owner immediately added salt to md5 (while preparing a new site).


Someone know the exact rules of password to claim account? I am making more and more absurd passwords, 20 character long and using characters that I never used before (And I am not likely to remember) and it still say my password is not secure enough.

martin
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June 21, 2011, 05:17:50 PM
 #12

I dislike circuit breakers.

And unsalted md5 was work of the previous owner, the new owner immediately added salt to md5 (while preparing a new site).


Someone know the exact rules of password to claim account? I am making more and more absurd passwords, 20 character long and using characters that I never used before (And I am not likely to remember) and it still say my password is not secure enough.

Do you also dislike accounts being hacked and a good chunk of the bitcoin economy being sold off in five minutes? Which one do you dislike more, because a circuit breaker that automatically stops trading if the market moves by, e.g. more than 5% in 30 minutes (which has probably never happened except yesterday) would have stopped this whole fandango after just a few thousand dollars worth of coins were sold, instead of millions.

"avoid using the MD5 algorithm in any capacity. As previous research has demonstrated, it should be considered cryptographically broken and unsuitable for further use" [US-CERT]. Salted MD5 is as close to useless as unsalted, using md5 for password hashes on a large banking site handling millions of dollars of other peoples money is incredibly negligent and utterly incompetant.

I had to include Caps, punctuation, a number, and make it almost 20 characters long before mtgox accepted my new password.

speeder
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June 21, 2011, 05:47:31 PM
 #13

Bitcoin has absurd volatility.

LOTS of time it varied 5% in 30 minutes. There are days with 300% or more variation.

Circuit breakers would only cause people to move to other exchanges.



There are other security measures that can be done, that are not circuit breakers (like requiring confirmation, warning the operator to watch what is happening, etc...)

martin
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June 21, 2011, 06:10:07 PM
 #14

Bitcoin has absurd volatility.

LOTS of time it varied 5% in 30 minutes. There are days with 300% or more variation.

Circuit breakers would only cause people to move to other exchanges.

There are other security measures that can be done, that are not circuit breakers (like requiring confirmation, warning the operator to watch what is happening, etc...)

Nothing could have stopped the selloff except an automated circuit breaker. MagicalTux has to sleep sometime, so operator warnings won't work, confirmation only works if the confirmation is secure, since the accounts were hacked we could assume the confirmation mechanism would have been broken too.

Maybe my numbers were too conservative, cut off the exchange until human intervention in the event of a 50% fall in value in less than half an hour. I think that's quite unlikely, and as far as I can tell from a very quick skim of prices hasn't happened (and gets less likely to happen the bigger the bitcoin economy becomes).

dserrano5
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June 21, 2011, 06:55:18 PM
 #15

Someone know the exact rules of password to claim account?

My old one was 10 characters long, including caps, smalls, numbers and specials. Only one vowel, so no dictionary words.

The new is 12 characters long, with blah blah blah. Only one blah blah blah...

FooDSt4mP
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June 22, 2011, 02:55:34 AM
 #16

What about just circuit breaking withdrawals temporarily?  Allow trading to continue, but keep all money onsite incase a rollback is required.

As we slide down the banister of life, this is just another splinter in our ass.
BitCheddar
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June 22, 2011, 05:12:50 PM
 #17

I'd guess most users just want to grab all their BTC/$ and get the hell out of there...
Mt. Gox lost all trust due to their "crisis management", in my opinion.

Yep.  They have shown they don't understand security, or how to solve problems.
Once they are back, I am taking everything I have with them out and then I dont know what I'll do, as if yet to see any major player in the game show a level of competency required to do this correctly.
AngstHase
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June 22, 2011, 05:30:38 PM
 #18

If mt.gox comes back, I'll trust this exchange more then any other.


martin
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June 23, 2011, 02:16:06 PM
 #19

What about just circuit breaking withdrawals temporarily?  Allow trading to continue, but keep all money onsite incase a rollback is required.

That's a pretty good idea, so long as it was very well marked on the price graph when the circuit breaker came into operation.

If mt.gox comes back, I'll trust this exchange more then any other.

Why?

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