EPLDCC
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February 17, 2015, 07:16:52 AM |
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has anyone withdrawn fiat from any of the exchange before? like from cex.io or cryptsy?
never tried it but I think CEX.io charge $50 for doing this, less for Euro withdrawals, I think around 10 Euro or 0.40 for SEPA, something like that. I've always run it back through Coinbase, but I'm thinking of fully registering my account with Cryptsy and giving it a go in the next few weeks. I'd be happy to post back - or answer PMs - to let you know how it goes. As long as you don't pull out more than you've put in, it'll be hard to prove you owe taxes on gains, if you're going that route. If you cash out more than you've taken out, I'd be careful. This is not legal advice in any form. I keep a database with all my transactions (purchases, sales, trades, etc.). Even have a dedicated EIN for my digital currency mining and investing. My experience is that even with capital gains, the itemized deductions for mining equipment and expenses make proper tax reporting a benefit, not a drawback.
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plumptoiletduck
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February 17, 2015, 08:13:11 AM |
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Welp... seems like I was wrong again. I really should stop speculating and just see what the price does.
If this behaves like a larger market cap coin, then 50 s@ is resistance. Of course where it bottoms is the point at which people think it's cheap. In my opinion anything under 50 at the moment people will gobble up. Long term... If plans succeed. We are dirt cheap now. I'll be buying more in march hopefully. On a different subject (everyone loves talking price) ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) what are the Digibyte team doing on their travels? I assume it's business, and secret for now.
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HR
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February 17, 2015, 08:42:13 AM Last edit: February 17, 2015, 09:07:24 AM by HR |
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Two consecutive transactions over the same public address leads to a pattern relaying on the elliptic curve cryptography method. So working along with reverse engineering, hacker can find the private keys, where he can extract them and steal coins whenever they want to. Imagine if those private keys belong to a cold wallet of huge bitcoin exchange... It can be a disaster for digital currencies...
This has been always the problem in the history of cryptography, and it is actually the reason why cryptography has born. Let only the target person know what your information is, but don't let anybody else know about it. So you have to encrypt it at the source, but also have to allow it to be fully recoverable at the destination, without getting caught in the air with some patterns.
To be honest, it is not an easy job, requires a lot of focus and luck. If someone can do it, I am sure they deserve it, but need a patch ASAP, maybe adding another layer of security of some hashing algorithm for the public address and its transaction IDs could be a solution, to remove the patterns...
In the meantime there are precautions everyone can take to mitigate the risk of falling victim to this exploit.
A) The most drastic and cumbersome preventive security measure would be to never use the same address twice.
or
B) Another, more easily manageable option would be to use a wallet whose dedicated purpose is to transact with the outside world, and to never leave important amounts in it. An example would be a wallet with addresses for exchanges, mining pools, donations, stores, etc., and whenever the balance of any of those addresses goes over a certain pre-established amount, you, as the owner and user, would send the balance to another wallet that you only use for storage and that only transacts with your "intermediary transaction wallet" and never with anyone else. I think this would be an effective workaround solution.
REMEMBER: most of us use specific addresses of our own creation with each entity we deal with, which means that those addresses easily fall into "two consecutive transaction" sequences. For example, most people have a specific address they use with Cryptsy, and another for Bittrex (again, these are named for sake of giving an example). Those specific addresses are used only for transactions with each specific entity and no-one else. Obviously this means that the entity we are transacting with has made not just two, but a plethora of sequential transactions with our specific address.
The good news is that an attacker cannot steal everything in our intermediary transaction wallet, only what's assigned to the particular address in the blockchain. Relaying funds to a safer, better protected address using a "proxy" wallet in a firewall kind of fashion as outlined in option B above should keep any attacker at bay.
Please correct me if I'm overlooking anything (which is quite possible). There are things we can do to improve security using the technology currently available to us and it's not necessary or recommendable to ignore the issue while waiting for a fix. Beyond what I've mentioned here, other advice is to never use an online wallet provider or online creator of paper wallets, NEVER! What other suggestions and recommendations has everyone else heard of or have?
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yoyoamigo
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
February 17, 2015, 09:11:36 AM |
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Two consecutive transactions over the same public address leads to a pattern relaying on the elliptic curve cryptography method. So working along with reverse engineering, hacker can find the private keys, where he can extract them and steal coins whenever they want to. Imagine if those private keys belong to a cold wallet of huge bitcoin exchange... It can be a disaster for digital currencies...
This has been always the problem in the history of cryptography, and it is actually the reason why cryptography has born. Let only the target person know what your information is, but don't let anybody else know about it. So you have to encrypt it at the source, but also have to allow it to be fully recoverable at the destination, without getting caught in the air with some patterns.
To be honest, it is not an easy job, requires a lot of focus and luck. If someone can do it, I am sure they deserve it, but need a patch ASAP, maybe adding another layer of security of some hashing algorithm for the public address and its transaction IDs could be a solution, to remove the patterns...
In the meantime there are precautions everyone can take to mitigate the risk of falling victim to this exploit.
A) The most drastic and cumbersome preventive security measure would be to never use the same address twice.
or
B) Another, more easily manageable option would be to use a wallet whose dedicated purpose is to transact with the outside world, and to never leave important amounts in it. An example would be a wallet with addresses for exchanges, mining pools, donations, stores, etc., and whenever the balance of any of those addresses goes over a certain pre-established amount, you, as the owner and user, would send the balance to another wallet that you only use for storage and that only transacts with your "intermediary transaction wallet" and never with anyone else. I think this would be an effective workaround solution.
REMEMBER: most of us use specific addresses of our own creation with each entity we deal with, which means that those addresses easily fall into "two consecutive transaction" sequences. For example, most people have a specific address they use with Cryptsy, and another for Bittrex (again, these are named for sake of giving an example). Those specific addresses are used only for transactions with each specific entity and no-one else. Obviously this means that the entity we are transacting with has made not just two, but a plethora of sequential transactions with our specific address.
The good news is that an attacker cannot steal everything in our intermediary transaction wallet, only what's assigned to the particular address in the blockchain. Relaying funds to a safer, better protected address using a "proxy" wallet in a firewall kind of fashion as outlined in option B above should keep any attacker at bay.
Please correct me if I'm overlooking anything (which is quite possible). There are things we can do to improve security using the technology currently available to us and it's not necessary or recommendable to ignore the issue while waiting for a fix. Beyond what I've mentioned here, other advice is to never use an online wallet provider or online creator of paper wallets, NEVER! What other suggestions and recommendations has everyone else heard of or have?so you are saying that we should have 2 desktop wallets: Wallet A [Usage Purposes] and Wallet B [Storage Purposes] Wallet A will always have transactions with exchanges, mobile wallets, merchants, etc Wallet B will * only* have transactions with Wallet A And it would be better if both wallets are on a different hardware? like Wallet A on a desktop and Wallet B on a laptop? just a question regarding the wallet that will be used for storage purposes - how often does one need to download the blockchain or at least to update the wallet? sometimes when i follow a certain coin and when they have a newer version, they want people to use the latest version asap. is that really necessary?
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CryptoRaver
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February 17, 2015, 09:35:06 AM |
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Looks like this new floor is quite stable ,can you imagine what happens when the team comes up with some big news ![Cool](https://bitcointalk.org/Smileys/default/cool.gif)
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siampumpkin
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
February 17, 2015, 09:50:01 AM |
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Seems like we're slowly but surely dropping back to the twenties...
I doubt it goes that low. I think 50 is a good stabilizing point before the next stable rise upward. ![Cool](https://bitcointalk.org/Smileys/default/cool.gif)
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EPLDCC
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
February 17, 2015, 09:55:28 AM |
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Two consecutive transactions over the same public address leads to a pattern relaying on the elliptic curve cryptography method. So working along with reverse engineering, hacker can find the private keys, where he can extract them and steal coins whenever they want to. Imagine if those private keys belong to a cold wallet of huge bitcoin exchange... It can be a disaster for digital currencies...
This has been always the problem in the history of cryptography, and it is actually the reason why cryptography has born. Let only the target person know what your information is, but don't let anybody else know about it. So you have to encrypt it at the source, but also have to allow it to be fully recoverable at the destination, without getting caught in the air with some patterns.
To be honest, it is not an easy job, requires a lot of focus and luck. If someone can do it, I am sure they deserve it, but need a patch ASAP, maybe adding another layer of security of some hashing algorithm for the public address and its transaction IDs could be a solution, to remove the patterns...
In the meantime there are precautions everyone can take to mitigate the risk of falling victim to this exploit.
A) The most drastic and cumbersome preventive security measure would be to never use the same address twice.
or
B) Another, more easily manageable option would be to use a wallet whose dedicated purpose is to transact with the outside world, and to never leave important amounts in it. An example would be a wallet with addresses for exchanges, mining pools, donations, stores, etc., and whenever the balance of any of those addresses goes over a certain pre-established amount, you, as the owner and user, would send the balance to another wallet that you only use for storage and that only transacts with your "intermediary transaction wallet" and never with anyone else. I think this would be an effective workaround solution.
REMEMBER: most of us use specific addresses of our own creation with each entity we deal with, which means that those addresses easily fall into "two consecutive transaction" sequences. For example, most people have a specific address they use with Cryptsy, and another for Bittrex (again, these are named for sake of giving an example). Those specific addresses are used only for transactions with each specific entity and no-one else. Obviously this means that the entity we are transacting with has made not just two, but a plethora of sequential transactions with our specific address.
The good news is that an attacker cannot steal everything in our intermediary transaction wallet, only what's assigned to the particular address in the blockchain. Relaying funds to a safer, better protected address using a "proxy" wallet in a firewall kind of fashion as outlined in option B above should keep any attacker at bay.
Please correct me if I'm overlooking anything (which is quite possible). There are things we can do to improve security using the technology currently available to us and it's not necessary or recommendable to ignore the issue while waiting for a fix. Beyond what I've mentioned here, other advice is to never use an online wallet provider or online creator of paper wallets, NEVER! What other suggestions and recommendations has everyone else heard of or have?so you are saying that we should have 2 desktop wallets: Wallet A [Usage Purposes] and Wallet B [Storage Purposes] Wallet A will always have transactions with exchanges, mobile wallets, merchants, etc Wallet B will * only* have transactions with Wallet A And it would be better if both wallets are on a different hardware? like Wallet A on a desktop and Wallet B on a laptop? The "proxy" wallet idea is a good idea HR. I think I'll adopt it ... I already use similar system with my normal bank accounts. With digital currency, I have been - and still am - more concerned about losses from my own stupidity than from malicious outsiders. But, it's a good idea. An once of prevention ... I believe, for the vulnerability that HR is referring to, it wouldn't matter if the wallets were on separate systems. But, from a more broadly construed perspective, it's a good idea. I think that Great American Insurance Group offers some form of policy to insure digital currencies (in the U.S. and Canada). But, that might only be for businesses that already have a corporate crime policy. Probably within a couple of years, similar policies will be available for the average home policy.
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HR
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February 17, 2015, 10:14:11 AM Last edit: February 17, 2015, 10:26:54 AM by HR |
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Two consecutive transactions over the same public address leads to a pattern relaying on the elliptic curve cryptography method. So working along with reverse engineering, hacker can find the private keys, where he can extract them and steal coins whenever they want to. Imagine if those private keys belong to a cold wallet of huge bitcoin exchange... It can be a disaster for digital currencies...
This has been always the problem in the history of cryptography, and it is actually the reason why cryptography has born. Let only the target person know what your information is, but don't let anybody else know about it. So you have to encrypt it at the source, but also have to allow it to be fully recoverable at the destination, without getting caught in the air with some patterns.
To be honest, it is not an easy job, requires a lot of focus and luck. If someone can do it, I am sure they deserve it, but need a patch ASAP, maybe adding another layer of security of some hashing algorithm for the public address and its transaction IDs could be a solution, to remove the patterns...
In the meantime there are precautions everyone can take to mitigate the risk of falling victim to this exploit.
A) The most drastic and cumbersome preventive security measure would be to never use the same address twice.
or
B) Another, more easily manageable option would be to use a wallet whose dedicated purpose is to transact with the outside world, and to never leave important amounts in it. An example would be a wallet with addresses for exchanges, mining pools, donations, stores, etc., and whenever the balance of any of those addresses goes over a certain pre-established amount, you, as the owner and user, would send the balance to another wallet that you only use for storage and that only transacts with your "intermediary transaction wallet" and never with anyone else. I think this would be an effective workaround solution.
REMEMBER: most of us use specific addresses of our own creation with each entity we deal with, which means that those addresses easily fall into "two consecutive transaction" sequences. For example, most people have a specific address they use with Cryptsy, and another for Bittrex (again, these are named for sake of giving an example). Those specific addresses are used only for transactions with each specific entity and no-one else. Obviously this means that the entity we are transacting with has made not just two, but a plethora of sequential transactions with our specific address.
The good news is that an attacker cannot steal everything in our intermediary transaction wallet, only what's assigned to the particular address in the blockchain. Relaying funds to a safer, better protected address using a "proxy" wallet in a firewall kind of fashion as outlined in option B above should keep any attacker at bay.
Please correct me if I'm overlooking anything (which is quite possible). There are things we can do to improve security using the technology currently available to us and it's not necessary or recommendable to ignore the issue while waiting for a fix. Beyond what I've mentioned here, other advice is to never use an online wallet provider or online creator of paper wallets, NEVER! What other suggestions and recommendations has everyone else heard of or have?so you are saying that we should have 2 desktop wallets: Wallet A [Usage Purposes] and Wallet B [Storage Purposes] Wallet A will always have transactions with exchanges, mobile wallets, merchants, etc Wallet B will * only* have transactions with Wallet A And it would be better if both wallets are on a different hardware? like Wallet A on a desktop and Wallet B on a laptop? just a question regarding the wallet that will be used for storage purposes - how often does one need to download the blockchain or at least to update the wallet? sometimes when i follow a certain coin and when they have a newer version, they want people to use the latest version asap. is that really necessary? You should always update your wallet to the most recent version, and I recommend always updating your backups after using your wallet and moving them to offline storage. As for the need to update the blockchain, to my knowledge it's not necessary and the only thing you would gain by periodic wallet use is a shortening of the time you'd need to wait for the wallet to sync, but as I said, that's to the best of my knowledge - I'm still researching the "coin loss" issue that can occur when the keypool buffer is exhausted, but I think that only applies to a restored wallet.dat file from an old backup originally made before a long period of continued use WITHOUT updating backups. For a more detailed response to your question, see my step-by-step instructions for what I consider to be The Most Secure, Least Hassle, Security Option for long term storage wallets.
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HR
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February 17, 2015, 11:01:40 AM |
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With digital currency, I have been - and still am - more concerned about losses from my own stupidity than from malicious outsiders.
Isn't that the truth! Join the club! As anyone who's ever lost a backup, or even just mistakenly copied an older document onto a newer one knows! Probably one of my most important underlying motivations for good documentation is to protect against my own stupidity. ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) P.S. Also good to have your positive opinion of the "proxy" wallet idea. I think it looks solid, and if you want to really go full tilt security conscious, putting your storage wallets inside a dedicated wallet use only Ubuntu install alongside Windows looks to be the capper.
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RD965
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February 17, 2015, 11:09:07 AM |
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Price has backed up from the pump as expected, good moment to load a bit more since its keeping flat atm
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SSG69
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February 17, 2015, 11:44:51 AM |
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Looks like this new floor is quite stable ,can you imagine what happens when the team comes up with some big news ![Cool](https://bitcointalk.org/Smileys/default/cool.gif) I agree, looks great. If 50-70 stabilizes as new baseline we will see new heights at 150+ . Looks below 50 is stuffed with sponge orders now sucking the miner flow. im all in@54 and wait for the next bull now, fully loaded up and with 30% profit. love u @dgb.
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Dennahz
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February 17, 2015, 11:57:22 AM |
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You guys focus way too much on the shortterm price. That's all i'm saying. Although i'd rather see a stable base >100 too, of course ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) Current price is not all that matters. But it would suck donkeyballs if DGB dropped to the 20's again.
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frottirzokni
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February 17, 2015, 12:14:52 PM Last edit: February 17, 2015, 12:28:38 PM by frottirzokni |
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Just went over 4million mostly by mining. Feels good ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) (started a year ago with a set of 5850 amd-s, then switched to more serious cards, and now I'm mining with asic)
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CryptoRaver
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February 17, 2015, 12:36:50 PM |
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Just went over 4million mostly by mining. Feels good ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) (started a year ago with a set of 5850 amd-s, then switched to more serious cards, and now I'm mining with asic) WOW such many millions already you doing good mate ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) It's also very important have miners like you so thank you for thad ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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DigiByte (OP)
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Official DigiByte Account
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February 17, 2015, 01:50:15 PM |
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Ok everyone, we have been making several changes to the DigiByte website to help beginners get into DigiByte. We need help creating a video guide that teaches people how to trade their Bitcoin for DigiBytes. We are going to give out 100,000 DigiBytes to the best quality guide we get. Right now we linked to a Cryptsy Dogecoin video, but we obviously would like it to be a video all about DigiByte. Please visit page to see what we are trying to accomplish: http://www.digibyte.co/content/purchasing-digibytes-your-bank-accountPlease feel free to offer us suggestions! Cheers!
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24hralttrade
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February 17, 2015, 01:59:57 PM |
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Ok everyone, we have been making several changes to the DigiByte website to help beginners get into DigiByte. We need help creating a video guide that teaches people how to trade their Bitcoin for DigiBytes. We are going to give out 100,000 DigiBytes to the best quality guide we get. Right now we linked to a Cryptsy Dogecoin video, but we obviously would like it to be a video all about DigiByte. Please visit page to see what we are trying to accomplish: http://www.digibyte.co/content/purchasing-digibytes-your-bank-accountPlease feel free to offer us suggestions! Cheers! Nice work Jared! First thank you for using my video DigiByte Wallet Instructions Quick Guide for Windows. I can send you the video file so you can upload it on the Digibyte youtube channel. Offcourse i can make the same sort of video for how to purchase Digibyte on cryptsy. But yeah the skilles for video editing is not that good.
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HR
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February 17, 2015, 02:05:46 PM |
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Ok everyone, we have been making several changes to the DigiByte website to help beginners get into DigiByte. We need help creating a video guide that teaches people how to trade their Bitcoin for DigiBytes. We are going to give out 100,000 DigiBytes to the best quality guide we get. Right now we linked to a Cryptsy Dogecoin video, but we obviously would like it to be a video all about DigiByte. Please visit page to see what we are trying to accomplish: http://www.digibyte.co/content/purchasing-digibytes-your-bank-accountPlease feel free to offer us suggestions! Cheers! I'll begin populating the Digital Currency Exchange Basics section of the Asistec TI Digital Currency Forum with a step-by-step with screenshots that any prospective video creators will be more than welcomed to use.
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CryptoRaver
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
February 17, 2015, 03:30:11 PM |
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Ok everyone, we have been making several changes to the DigiByte website to help beginners get into DigiByte. We need help creating a video guide that teaches people how to trade their Bitcoin for DigiBytes. We are going to give out 100,000 DigiBytes to the best quality guide we get. Right now we linked to a Cryptsy Dogecoin video, but we obviously would like it to be a video all about DigiByte. Please visit page to see what we are trying to accomplish: http://www.digibyte.co/content/purchasing-digibytes-your-bank-accountPlease feel free to offer us suggestions! Cheers! Is the Digibyte exchange still coming? will by real cool a video with thad !
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