[ANN] [888] [SCRYPT] OctoCoin ◦ The Power of Eight ◦ Don't Blink

[th0ms0n]

i know it, because i'm the one who broke it. unfortunately...
i wanted to withdraw some octos this morning, received the amount twice and then the market froze.
richie contacted me and i sent back one of the transactions.
i'm in contact with him and i'll keep you guys up 2 date.

the reason seems to be that the octo wallet overwrote an entry which bittrex uses to keep track of already sent transactions..
however, the bittrex guys are working on it

[frameLAlife]

i know it, because i'm the one who broke it. unfortunately...
i wanted to withdraw some octos this morning, received the amount twice and then the market froze.
richie contacted me and i sent back one of the transactions.
i'm in contact with him and i'll keep you guys up 2 date.

the reason seems to be that the octo wallet overwrote an entry which bittrex uses to keep track of already sent transactions..
however, the bittrex guys are working on it

interesting. thanks for the response. do you know if Bittrex is in contact with the devs at all?

[OctoCoin]

We have contacted Bittrex.com and hope to have this straightened out very soon. While we apologize for the continued delay on other fronts, we are getting fires putting out, making some acquisitions, and things are still moving forward. Getting the issue(s) worked out at Bittrex.com is a major priority as they serve as the only 888 exchange with reasonable volume at this time. While this sudden double-spend issue is likely not related to the OctoCoin code, we will certainly work with them to get that handled regardless.

We want to ensure you all that we are still active and all of our plans absolutely remain in place. We are behind schedule and we are in a difficult market but we will prevail. This community is important to us (even if, at times, it feels otherwise). We have only burned through a fraction of our capital, we hold a significant position in OctoCoin, and we have millions of lines of code we have written that we are anxious to unleash.

Thank you all for your continued support and dedication.

[OctoCoin]

Just an update on the Bittrex situation: we have received additional details from Richie and are digging into the issue. For those concerned about OctoCoin potentially being delisted from Bittrex, here are Richie's comments:

"Don't worry about delisting... I'm more concerned about this problem because it might impact a lot more than just octo."

Basically, as some of you have already gathered, some of the transaction comments are apparently being overwritten which is how Bittrex manages payouts. They froze 888 trading and put up a "delisting" warning both to prevent additional repeats and to expedite action on our part. While we have never experienced this issue nor seen reports of any issues until now, not all services operate in the same manner. It's possible this is an issue that has been corrected in the latest Bitcoin Core source code and, if that is the case, we will ensure the fix is implemented and release our new wallet ahead of schedule. Regardless, Bittrex may want to consider a new method for verifying withdrawals to avoid this potential issue with other currencies. We will get it all straightened out.

[shellbunner]

Thanks for the update 

[LeFiste]

Damn...every time I'm starting to lose faith in Octo an update occurs Thanks for the heads up!

[frameLAlife]

Thanks for the updates! 

[frameLAlife]

Damn...every time I'm starting to lose faith in Octo an update occurs Thanks for the heads up!

word. just gotta have patience and keep the faith. however don't forget the conference calls on Sundays!

[peterw]

I hope the devs will read this:

Devs, if you actually have things to release related to octocoin, PLEASE do not wait too long to release them. NOW seems like a great moment for a legit and innovative altcoin to rise above the rest of the mess. But the world is always changing. Don’t wait and wait and wait and sit on your millions of lines of code and miss the opportunity.

[frameLAlife]

I hope the devs will read this:

Devs, if you actually have things to release related to octocoin, PLEASE do not wait too long to release them. NOW seems like a great moment for a legit and innovative altcoin to rise above the rest of the mess. But the world is always changing. Don’t wait and wait and wait and sit on your millions of lines of code and miss the opportunity.

My guess is they know way more about this than any of us do. I am always concerned with their plans and timing but one thing we don't want is half completed projects released.. patience. Also, there is nothing wrong with sitting on what you have if you view the risk as too high. Right now the main concern should be that Bittrex and the devs are ensuring that everyone's coins are safe on Bittrex servers. I am glad they posted here for that... that's the kinda update you wouldn't want them to disappear on and cause fear and uncertainty lol.

I do think on some level everyone feels the way you do though.. hard not to

[frameLAlife]

Just an update on the Bittrex situation: we have received additional details from Richie and are digging into the issue. For those concerned about OctoCoin potentially being delisted from Bittrex, here are Richie's comments:

"Don't worry about delisting... I'm more concerned about this problem because it might impact a lot more than just octo."

Basically, as some of you have already gathered, some of the transaction comments are apparently being overwritten which is how Bittrex manages payouts. They froze 888 trading and put up a "delisting" warning both to prevent additional repeats and to expedite action on our part. While we have never experienced this issue nor seen reports of any issues until now, not all services operate in the same manner. It's possible this is an issue that has been corrected in the latest Bitcoin Core source code and, if that is the case, we will ensure the fix is implemented and release our new wallet ahead of schedule. Regardless, Bittrex may want to consider a new method for verifying withdrawals to avoid this potential issue with other currencies. We will get it all straightened out.

gangsta update

[frameLAlife]

so the issue was caught when users received a second payout which doubled the amount withdrawn if i am understanding this correctly. feel free to explain if i messed this up. i never mind being corrected

so, in theory, if the user hadn't been honest, and say withdrew 4000 octo but received 8000, could he have taken advantage of this? if he had re deposited all 8000 and withdrew 8000 again, he could potentially have potentially withdrew 16,000. right?

if so, kudos for being honest. also, at some point, anyone attempting to steal in that way would risk losing all the octo he was stealing had someone realized it, reported it and when he deposited it again and Bittrex then locked it down. so even if they made some gains they could have been caught and lost it all, or if they were smart the wouldn't re deposit the whole amount.

just spinning my wheels in my brain here. interesting.

is this theory or understanding correct or am i way off?

[frameLAlife]

and someone needs to give that dude a reward for being honest. even on one double withdrawl he coulda just not said anything. i know rewarding someone for doing what is right and what they should do is kinda tacky but in crypto where there are a decent portion of dishonest people, i applaud anyone for doing the right thing.

[th0ms0n]

well bittrex sent me a tip in btc as thanks for for sending it back... and it wasnt 8000, is was about 74000 i received twice   

[th0ms0n]

so the issue was caught when users received a second payout which doubled the amount withdrawn if i am understanding this correctly. feel free to explain if i messed this up. i never mind being corrected

so, in theory, if the user hadn't been honest, and say withdrew 4000 octo but received 8000, could he have taken advantage of this? if he had re deposited all 8000 and withdrew 8000 again, he could potentially have potentially withdrew 16,000. right?

if so, kudos for being honest. also, at some point, anyone attempting to steal in that way would risk losing all the octo he was stealing had someone realized it, reported it and when he deposited it again and Bittrex then locked it down. so even if they made some gains they could have been caught and lost it all, or if they were smart the wouldn't re deposit the whole amount.

just spinning my wheels in my brain here. interesting.

is this theory or understanding correct or am i way off?

i'm afraid there would be ways for wallet developers to exploit that issue

EDIT: i hope i didn't break bittrex 

[frameLAlife]

well bittrex sent me a tip in btc as thanks for for sending it back... and it wasnt 8000, is was about 74000 i received twice   

well that's awesom of Bittrex to do. and yeah 4000/8000 was just an example and it looks like it coulda been a lot worse.

[th0ms0n]

its up and running again!!  .. and already a lot of volume

[djslick]

Crazy news, good on you for being upfront and honest, i have much respect for you thompson.

I'm glad that this was severe enough to elicit a response from octocoin.

I'm less than pleased with what little has been communicated and it's starting to show by the reactions from your investors (hit 50 satoshi today). We were promised X and it has not been delivered.

Broken free of the constraints preventing you from communicating with us? how? putting out fires? where? making aquisitions? who?

This is just more execu-speak. http://futurama.wikia.com/wiki/Future_Stock/Quotes

I think we've ingested about as many ambiguously worded updates that we can take. you have to show us something.

When hundreds of thousands of dollars are invested in something, you can't tell your investors to "take it on faith".

btw thompson, post your octo addy, i'd like to give you a good samaritan contribution.

[th0ms0n]

completely with DJ here.
how can you expect us to support you with deepest conviction when you treat us like that?

I mean people have baked octo-cakes, made tentacle cups, drew pictures and a lot more.
everything based on vague and sparing information.

It would be just fair to give us something to hold on to. a screenshot, whatever.

Anyway, i'm glad my bittrex withdrawal didn't smash octo...

[syncsam]

completely agree with djslick and thOmsOn, lost faith in octo weeks ago, thats one to add to my flop pile