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yomofo (OP)
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February 25, 2014, 02:10:12 AM
Last edit: February 25, 2014, 02:22:48 AM by yomofo |
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pungopete468
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February 25, 2014, 02:13:55 AM |
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I can't imagine that to be an accurate figure...
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Premier League
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..TAKE PART.. |
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meanig
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February 25, 2014, 02:15:58 AM |
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So fake  |
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JoelKatz
Legendary
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Activity: 1596
Merit: 1012
Democracy is vulnerable to a 51% attack.
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February 25, 2014, 02:20:36 AM |
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Parts of this seem very plausible and unlikely to be made up but parts of it sound extremely implausible and almost certainly made up. That leaves the possibility that it's a real document that's been altered to make a different point than the actual document does. But it's hard to imagine who would have access to the real document and an incentive to do that. So, basically, I wouldn't draw any conclusions from this.
Maybe someone wants to push the price of Bitcoin down and buy on the dip and went to a lot of trouble to construct the parts that appear plausible to try to get people to buy the parts that seem implausible?
(Oddly, if people were rational, this should cause the price of Bitcoins to go up.)
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I am an employee of Ripple. Follow me on Twitter @JoelKatz
1Joe1Katzci1rFcsr9HH7SLuHVnDy2aihZ BM-NBM3FRExVJSJJamV9ccgyWvQfratUHgN
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bitcool
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Activity: 1441
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Live and enjoy experiments
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February 25, 2014, 02:20:45 AM |
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the cold storage has been wiped out due to a leak in the hot wallet
I like this scenario, it fits their level of intelligence  |
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derpinheimer
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February 25, 2014, 02:22:12 AM |
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The fudster must just love the coincidence with Gox trading shutdown..
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FNG
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February 25, 2014, 02:27:35 AM |
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Document was probably made by the guy purchasing 650 coins at .21 on bitcoinbuilder lol
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btc4ever
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February 25, 2014, 02:28:19 AM |
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People have made a lot of fun of this quote, and I agree it is a bit retarded. However, I can sort of see it making sense in the scenario that gox has been continually defrauded ( via malleability issue or whatever ) and has for a long time now been moving coins from cold storage (savings) into active use to cover the losses. Whether that actually happened or not, I have no idea. But just saying that the quote itself can make some sense in this context. the cold storage has been wiped out due to a leak in the hot wallet
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Psst!! Wanna make bitcoin unstoppable? Why the Only Real Way to Buy Bitcoins Is on the Streets. Avoid banks and centralized exchanges. Buy/Sell coins locally. Meet other bitcoiners and develop your network. Try localbitcoins.com or find or start a buttonwood / satoshi square in your area. Pass it on! |
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dave111223
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February 25, 2014, 02:29:06 AM |
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Way too many whole numbers to be legit.
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eldentyrell
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felonious vagrancy, personified
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February 25, 2014, 02:31:59 AM |
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Such a hoax.
No company is dumb enough to put stuff like this in writing, even when it's true.
"Cold storage has been wiped out due to a leak in the hot wallet" is incoherent yammering.
All the data are in the blockchain. If an attack like this really had been going on for years as the document alleges, it would be possible to verify this (and I'm sure somebody would have). Mutated transactions can be detected after-the-fact and with high (but not 100%) probability, so a long-running theft on this scale would leave undeniable evidence that it had occurred. Just like the android random-number-generator vulnerability, people would have called attention to the attack's trail of evidence in the blockchain.
PS, to put bitcoin "back ~5-10 years" would be before cryptocurrencies existed. Come on.
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The printing press heralded the end of the Dark Ages and made the Enlightenment possible, but it took another three centuries before any country managed to put freedom of the press beyond the reach of legislators. So it may take a while before cryptocurrencies are free of the AML-NSA-KYC surveillance plague.
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notig
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February 25, 2014, 02:34:19 AM |
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serious question...... I have an armory wallet. I have a "watching only " wallet that watches my offline wallet. My offline wallet is composed of many keys. So is it really that difficult for an exchange who have funds in cold storage to have some kind of live ticker that shows their cold storage balance? Wouldn't it be incredibly easy to watch your balance of your cold storage even though it may be spread across many keys or even broken into several part keys (The public key isn't broken right? )
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yomofo (OP)
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February 25, 2014, 02:35:26 AM |
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Manticore
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February 25, 2014, 02:49:16 AM |
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No company is dumb enough to put stuff like this in writing, even when it's true.
The number of coins seems high, but I wouldn't completely rule this document out just yet. It could certainly have been written by a private equity group with plans for damage control (or similar type of entity) and turnaround. It sounds like a third party assessment; very plausible. I agree with the person above who said that parts seem very authentic while other parts seem a little fake. Perhaps it's an early draft of a preliminary assessment. This type of review is exactly what would happen in this kind of situation (assuming things have gone completely south as outlined in the draft). |
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segeln
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February 25, 2014, 02:54:04 AM |
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serious question...... I have an armory wallet. I have a "watching only " wallet that watches my offline wallet. My offline wallet is composed of many keys. So is it really that difficult for an exchange who have funds in cold storage to have some kind of live ticker that shows their cold storage balance? Wouldn't it be incredibly easy to watch your balance of your cold storage even though it may be spread across many keys or even broken into several part keys (The public key isn't broken right? )
How do you see the balance in a "watching only"wallet ?I don`t. |
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DPoS
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February 25, 2014, 03:09:14 AM |
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No company is dumb enough to put stuff like this in writing, even when it's true.
The number of coins seems high, but I wouldn't completely rule this document out just yet. It could certainly have been written by a private equity group with plans for damage control (or similar type of entity) and turnaround. It sounds like a third party assessment; very plausible. I agree with the person above who said that parts seem very authentic while other parts seem a little fake. Perhaps it's an early draft of a preliminary assessment. This type of review is exactly what would happen in this kind of situation (assuming things have gone completely south as outlined in the draft). yes it was leaked.. not intended to be sent out.... but since it was, seems they had to start the ball rolling and stop trading now (should of stopped as soon as they blocked withdrawals) |
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pembo210
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February 25, 2014, 05:20:42 AM |
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..
(Oddly, if people were rational, this should cause...)
You must be new here.. Welcome to Earth |
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cosmofly
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Activity: 532
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PrimeDAO - An Adoption Engine for Open Finance
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February 25, 2014, 05:40:59 AM |
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Very disturbing document, freaky as fuck. Be careful before reading if u cant stomach this
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Serge
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February 25, 2014, 05:53:37 AM |
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hard to imagine the doc is real
but if assuming it is, do companies on a scale of mtgox do not balance books quarterly or at the very least annually in japan?
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derpinheimer
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February 25, 2014, 05:54:19 AM |
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hard to imagine the doc is real
but if assuming it is, do companies on a scale of mtgox do not balance books quarterly or at the very least annually in japan?
Or.. ever? LOL! |
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Phinnaeus Gage
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Bitcoin: An Idea Worth Spending
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February 25, 2014, 05:54:51 AM |
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Very disturbing document, freaky as fuck. Be careful before reading if u cant stomach this
I was suppose to stomach it? Hell, I jacked off all over it. Now, somebody push my face into it and make me swallow. BTW, I've been holding back something on BitcoinBuilder, something of which is important, and I'm not a very happy camper about it. Not happy at all. |
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