Coinbase will be next to halt withdrawals by Friday..

[Miz4r]

GMaxwell (Core #Bitcoin dev): It is exceptionally unlikely that malleability will be fixed in the year

Just because malleability won't be fixed this year doesn't mean they can't mitigate these DDoS attacks through other ways.

That made no sense unless you actually present a way to mitigate this by presenting a feasible course of action. Everything else is just hope and faith.

Can't you read? These problems are only appearing due to outdated or buggy software. If they fix these bugs and update the software, the problem will be solved.

Somebody (or several somebodies) is taking advantage of the transaction malleability issue and relaying mutated versions of transactions. This is exposing bugs in both the reference implementation and some exchange’s software.

So the DDoS attacks are exposing bugs in the exchange's software and thus causing problems. Fix those bugs and guess what happens?

[Jeezy911]

I want to point and laugh at Steve and call him a "Big Dummy" but he might actually be right on this one. A flaw in the network is like ultimate doom, there really is no worse news.

[Lloydie]

GMaxwell (Core #Bitcoin dev): It is exceptionally unlikely that malleability will be fixed in the year

Just because malleability won't be fixed this year doesn't mean they can't mitigate these DDoS attacks through other ways.

That made no sense unless you actually present a way to mitigate this by presenting a feasible course of action. Everything else is just hope and faith.

Made plenty of sense.  Fix software reliance on tx ids and problem goes away, which gives the devs a whole year to sort out transaction malleability in protocol.

[Lloydie]

I want to point and laugh at Steve and call him a "Big Dummy" but he might actually be right on this one. A flaw in the network is like ultimate doom, there really is no worse news.

There is no flaw in the transactional capabilities of bitcoin, as of this moment.  The flaw is the way that transaction ids can be altered by rogue miners.  This is a coordinated attack by a small group of miners who are then spamming the network with dust.  Now, who would want to do such a thing?   Reliance on tx ids is not necessary for bitcoin transactions to continue. The spamming issue will be addressed via other fixes.  Software changes will probably be made to stop reliance on tx ids for now.  Once the issue is fixed at protocol level, the "flaw" disappears and the bitcoin protocol just got stronger.

[vokain]

Bitcoinsteve did call it going to $100 on sunday and everyone laughed at him... And then we all know what happened on BTCe...


That's a pretty spot on prediction, I'd like to see anyone else try to beat it.  

Ok, ATH in march 2014

just for fun,
for the public record my money is on ATH in may i'll dig this up later when it happens[/steve]

[pungopete468]

If Coinbase puts a hold on withdrawals it's only because the other exchanges won't let CoinBase pull BTC out.

Luckily CoinBase doesn't solely rely on the exchanges for BTC. They have a constant influx from Merchant Services...

I think it's plausible that they may delay BTC withdrawals; but they likely won't have to lock them down...

I think it's a reasonable assertion that they might feel a pinch by this; especially considering their recent buy orders have skyrocketed with the lower price...

[ScaryHash]

Not like I'm going to turn off my miners anytime soon.

All this FUD and BS is going to lead to a drop, and then, it's going to bounce up.

And, there is nothing wrong with people's wallets holding the BTC, just with DDOS attacks that mimic transactions.

There is nothing to freak out about. Yawn.

Back to mining and our regularly scheduled program.

And now, for a little Mozart.

[DPoS]

I think it's a reasonable assertion that they might feel a pinch by this; especially considering their recent buy orders have skyrocketed with the lower price...

that was last week when they and stamp crashed 100 points lower than BTCe... plenty of us bought in the 630's and get those coins Thursday..  in the old days we would of had those instantly and you would of seen those notices they would throw up saying they ran out of coins..

now with the low cap they can get whatever coins they need within 5 business days

[pungopete468]

I think it's a reasonable assertion that they might feel a pinch by this; especially considering their recent buy orders have skyrocketed with the lower price...

that was last week when they and stamp crashed 100 points lower than BTCe... plenty of us bought in the 630's and get those coins Thursday..  in the old days we would of had those instantly and you would of seen those notices they would throw up saying they ran out of coins..

now with the low cap they can get whatever coins they need within 5 business days

Trust me, I bought more on the 8th, 9th, 10th, and today... Unfortunately I missed the low point but I'm still happy with the current price...

The withdrawals did seem to take slightly longer, but in a matter of an hour or so the withdrawal requests were filled.

[keithers]

I like how everyone ignores the fact that his "prediction" suggested that the price would be $100 on Friday... NOT that it would drop to $100 for a few seconds on one exchange on Monday.

There is a BIG difference between the price sitting at 100 on friday the 14th and what we saw happen yesterday.

But if ya'll want to continue to think he made some genius prediction, by all means, get on your knees and praise the guy.

This is true, and bottom line is that if bitcoin really was on the verge of failure (and he knew it), then he wouldn't be asking for donations in BTC for his "secret inside knowledge."  He would probably be asking for cash through paypal or beanie babies or something like that...

[sickpig]

GMaxwell (Core #Bitcoin dev): It is exceptionally unlikely that malleability will be fixed in the year

Just because malleability won't be fixed this year doesn't mean they can't mitigate these DDoS attacks through other ways.

That made no sense unless you actually present a way to mitigate this by presenting a feasible course of action. Everything else is just hope and faith.

look at the last few commits in the bitcoin github master branches commits, and in particular look at:

https://github.com/bitcoin/bitcoin/commit/19e5b9d2dfcac4efadba636745485d9660fb1abe

it seems that they are doing something.

[DeathAndTaxes]

GMaxwell (Core #Bitcoin dev): It is exceptionally unlikely that malleability will be fixed in the year

Just because malleability won't be fixed this year doesn't mean they can't mitigate these DDoS attacks through other ways.

That made no sense unless you actually present a way to mitigate this by presenting a feasible course of action. Everything else is just hope and faith.

The DDOS is due to the fact that most clients currently allow you to spend unconfirmed change outputs.   There are already patches being worked which will allow the user to require at least 1 confirmation before spending change outputs.  There are also patches being worked which will hide the duplicate transactions.  

Exchanges and service providers will still need to not rely on tx id as canonical proof of payment but they shouldn't be doing that right now anyways.  Relying on tx id as confirmation of a withdraw won't result in a denial of service, it will result in the exchange being robbed.

More info:
https://bitcointalk.org/index.php?topic=460944.msg5089865#msg5089865

Also not all services are halted.  BitSimple is still operating, the malleability of tx id doesn't affect our processing engine at all.

[bitcoinlitcoinbtcltc]

I agree with OP, Bitcoin is going to crash SO HARD

[Cyberlight]

I agree with OP, Bitcoin is going to crash SO HARD

https://bitcointalk.org/index.php?topic=442939.msg4864894#msg4864894
Your predictions suck, go back to your hole.

Nice trolling OP , but I think you'd better move to trollbox.

This is a place for serious speculation, no ass talk.

[yannis7777]

The track to less than $100 btc is on the way, many exchanges will close along with coinbase by Friday.. Prepare, get your coins out, sell now or wish you did.. more news coming soon.

Threads like this panic gullible readers who in turn cash out to the benefit of the trolls that are causing this panic in the first place. So tell us OP have you sold yours? Can you back it with some proof too you big fat troll?

[sickpig]

GMaxwell (Core #Bitcoin dev): It is exceptionally unlikely that malleability will be fixed in the year

Just because malleability won't be fixed this year doesn't mean they can't mitigate these DDoS attacks through other ways.

That made no sense unless you actually present a way to mitigate this by presenting a feasible course of action. Everything else is just hope and faith.

The DDOS is due to the fact that most clients currently allow you to spend unconfirmed change outputs.   There are already patches being worked which will allow the user to require at least 1 confirmation before spending change outputs.  There are also patches being worked which will hide the duplicate transactions.  

Exchanges and service providers will still need to not rely on tx id as canonical proof of payment but they shouldn't be doing that right now anyways.  Relying on tx id as confirmation of a withdraw won't result in a denial of service, it will result in the exchange being robbed.

More info:
https://bitcointalk.org/index.php?topic=460944.msg5089865#msg5089865

Also not all services are halted.  BitSimple is still operating, the malleability of tx id doesn't affect our processing engine at all.

also kraken.com is uneffected

[SlaveInDebt]

GMaxwell (Core #Bitcoin dev): It is exceptionally unlikely that malleability will be fixed in the year

Just because malleability won't be fixed this year doesn't mean they can't mitigate these DDoS attacks through other ways.

That made no sense unless you actually present a way to mitigate this by presenting a feasible course of action. Everything else is just hope and faith.

The DDOS is due to the fact that most clients currently allow you to spend unconfirmed change outputs.   There are already patches being worked which will allow the user to require at least 1 confirmation before spending change outputs.  There are also patches being worked which will hide the duplicate transactions.  

Exchanges and service providers will still need to not rely on tx id as canonical proof of payment but they shouldn't be doing that right now anyways.  Relying on tx id as confirmation of a withdraw won't result in a denial of service, it will result in the exchange being robbed.

More info:
https://bitcointalk.org/index.php?topic=460944.msg5089865#msg5089865

Also not all services are halted.  BitSimple is still operating, the malleability of tx id doesn't affect our processing engine at all.

And I've been waiting for 6 confirmations all this time 

[ravetrader]

BRACE YOURSELF, THE END IS NEAR! 8 MIN TO THE FULFILLMENT OF THE PROPHECY!

RUN, SELL, RUN, SELL!!!!!!!

AS THE TROLL PREDICTED! LONG LIVE THE TROLL AND HIS MAJESTIC PROPHECY!!!

[seleme]

[keithers]

I agree with OP, Bitcoin is going to crash SO HARD

did you go under the $10 minimum and not be able to chat in the box over at btc-e?