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Author Topic: [UNRESPONSIVE POOL OPERATOR] 50BTC.com  (Read 240676 times)
Humax
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October 20, 2013, 04:01:21 PM
 #861

50BTC needs to solve this problem asap.
Our coins are gone and who will mining without getting bitcoins?

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arklan
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October 20, 2013, 05:48:26 PM
 #862

50BTC needs to solve this problem asap.
Our coins are gone and who will mining without getting bitcoins?

indeed. i've left to another pool for now.
wedgy2k
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October 20, 2013, 05:51:19 PM
 #863

50BTC needs to solve this problem asap.
Our coins are gone and who will mining without getting bitcoins?

indeed. i've left to another pool for now.
I too have abandoned ship

zoktar
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October 20, 2013, 07:31:31 PM
 #864

50BTC needs to solve this problem asap.
Our coins are gone and who will mining without getting bitcoins?

indeed. i've left to another pool for now.
I too have abandoned ship

May i ask where you 2 headed?, im back on btcguild but im still testing pools.
eleuthria
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October 20, 2013, 07:43:50 PM
 #865

Maybe some of their coins were already stolen during the hack, if they restore the balance, they will take a huge hit on their own bitcoins

I think it is reasonable that they spread the loss among each miner, this is a system risk that everyone is facing when mining on pools

That is completely backwards.  Miners should NOT take a hit when the pool loses money due to their own mistakes.  ANY responsible pool owner should be absorbing whatever loss they take.  The only time the reverse should even be an option is if the pool is forced to shutdown entirely.  If the pool remains online, miners shouldn't see a single bitcent removed from their real balances.  Too bad in this case the majority of miners won't have a clue what their real balance should be since the problem still hasn't been resolved.

R.I.P. BTC Guild, 2011 - 2015.
BTC Guild Forum Thread
miner49er
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October 20, 2013, 07:48:13 PM
 #866

accounts are still messed up ~36 hours later. I wish  50BTC.com  member would post something about this. anything at all? please? worst thing is the pool hash rate is plummeting due to this... and no posts / response from the pool owner(s)??


E is right on, He went through the exact same thing with btcguild. and was totally transparent throughout the process. he took the hit and the pool (miners) stayed productive through out.  Of course, we do not know the extent of the damage to 50BTC.com; maybe it is a catastrophic loss and they cannot recover. nothing to compare because we do not know how great the loss was.

Also, I cannot imagine that they did not have any kind of reserve or small hotwallet balance to prevent a major withdrawal of invalid amounts like this. That just makes no sense. and to not respond at all or post any updates about it to reassure the members? even if they just post that they had lost their reserve before they could stop the processes?
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October 20, 2013, 08:04:51 PM
 #867

50BTC needs to solve this problem asap.
Our coins are gone and who will mining without getting bitcoins?

indeed. i've left to another pool for now.
I too have abandoned ship

May i ask where you 2 headed?, im back on btcguild but im still testing pools.

For now, ozcoin, but my 15ghash is so low these days that anything but pps kinda screws me. I'll look at btc guild later I suppose, i just worry about them having to much hash.
eleuthria
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October 20, 2013, 08:15:15 PM
 #868

Of course, we do not know the extent of the damage to 50BTC.com; maybe it is a catastrophic loss and they cannot recover. nothing to compare because we do not know how great the loss was.

Also, I cannot imagine that they did not have any kind of reserve or small hotwallet balance to prevent a major withdrawal of invalid amounts like this. That just makes no sense. and to not respond at all or post any updates about it to reassure the members? even if they just post that they had lost their reserve before they could stop the processes?

I've mentioned in #btcguild this morning.  Any responsible pool, especially a large one (50BTC was the largest for quite a long period), should have 3 things:

1) Hot wallet that doesn't exceed expected daily withdrawal volume (+ 10% or so during price rallies since withdrawals normally exceed newly minted coins during a rally).
2) Cold wallet
3) A buffer of coins that is larger than the hot wallet balance

That setup means the pool always has enough funds to cover any loss.  Yes, it comes from the pool owner's pocket.  BECAUSE IT SHOULD!  The pool owner is the one responsible for securing their pool, the miner's have no way to know how secure/insecure a pool is until it is too late.  But there should always bee a buffer in place that means in the event of a hack (which empties the entire hot wallet), the pool can be fixed/secured again, and the loss is taken from that buffer.  The owner doesn't have to purchase coins to make up the difference, they just have to hold off on selling coins until the buffer is replenished.


For now, ozcoin, but my 15ghash is so low these days that anything but pps kinda screws me. I'll look at btc guild later I suppose, i just worry about them having to much hash.

BTC Guild is only ~25-27% of the network ever since ghash.io claimed a 20-25% piece of the network hashrate.

R.I.P. BTC Guild, 2011 - 2015.
BTC Guild Forum Thread
miner49er
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October 20, 2013, 08:23:23 PM
 #869


For now, ozcoin, but my 15ghash is so low these days that anything but pps kinda screws me. I'll look at btc guild later I suppose, i just worry about them having to much hash.

uh... ya 15GHs is not going to make a difference to BTCguild  E runs the best pool. period.

and.. to look on the selfish side, the higher the hash rate the better the PPS return, so load it up. If BTCguild ever gets near 51% , the owner will take steps. its happened in the past, and E did a great job of mitigation.
Miramyn
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October 20, 2013, 09:45:05 PM
 #870

Why do PPS rates vary between some of the pools?

BTC Guild is usually around (note the disclaimer, AROUND) 5% less than 50btc for example

Is that the difference in pool fees or does something else play a part?


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eleuthria
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October 20, 2013, 09:57:30 PM
 #871

Why do PPS rates vary between some of the pools?

BTC Guild is usually around (note the disclaimer, AROUND) 5% less than 50btc for example

Is that the difference in pool fees or does something else play a part?



BTC Guild's PPS is 4.5% higher fee than 50BTC.  I did not enjoy the gambling aspect of PPS, and when the pool was getting too large (51% threat), I increased the PPS fee to force miners to either change pools or change payment methods.  Basically PPS is only there because some people demand it, and the fee was raised to a level where I'm comfortable that variance will never be significant enough for me to lose money over a 1 month period on PPS.

Instead, we offer PPLNS with enough perks to reduce the effective fee to 1% (3% but pays orphan blocks, txfees, and namecoins).

R.I.P. BTC Guild, 2011 - 2015.
BTC Guild Forum Thread
miner49er
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October 20, 2013, 10:37:30 PM
 #872

Any way back on topic for this thread: 50BTC.com: where are you? whats the status? what happened? what are you doing to resolve? is there an ETA for fix? how much did you lose?

115Th/s -> 69 Th/s... coming up on 50% loss of miners... Please say something.


and I apologize, I meant in my last post that the PPLNS increases with higher hash rates... better chance of solving more blocks= higher PPLNS
sead
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October 21, 2013, 12:38:24 PM
 #873

A big WTF to you (mr.) 50BTC.com - (Last Active: Today at 12:14:52 PM)

logic tells me that this smells like all coins are gone OR that it is impossible to roll back to the (latest accurate) mining stats of each users.
50% pool speed drop - and still no communication - this sounds like a real problem.

if you want us to continue mining take responsibility NOW. (I was rely getting angry to see that the 50BTC.com forum user is online currently) WTF - no reply??? Angry





 
50BTC.com
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October 21, 2013, 01:11:47 PM
 #874

Dear 50BTC users!

Our billing was hacked on Friday.
We're doing our best to fix the consequences of this attack. 

Currently we are solving the problems for each user in the individual way.

Until we figure out which vulnerability was used to perform the attack all workers will be switched to the DGM mode with 0% pool's commission.

PPS mode will be available again as soon as we recover corrupted data.

Thank you for your patience.

50btc.com - PPS pool, instant payout (Visa, Liberty Reserve, QIWI, Yandex.Money, WebMoney,...), API, fast and responsible support, pay for stale shares.
sead
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October 21, 2013, 02:08:03 PM
 #875

thanks for the update+

pls announce the expected - 'able to withdraw again' date and time EARLY - cause I would expect some nasty market price drops
like we almost hit 200 with 195 less than 48h ago - i bet there are some people who rely would love to sell their 50btcs asap.

ps. about security: is 'route' parameter not sensitive at all or is it also used internal? do you maybe show to much info in your error msgs?
(i didnt send any vuln requests - an of course will not - that was just my first impression) - i can offer sec/hack help - just PM
(i am sure u have friends for that - just in case...)

50BTC.com
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October 21, 2013, 02:34:02 PM
 #876

Important news!

We want to inform you that shop.50btc.com have orders processing mechanism completely separated from 50btc.com billing.

This attack will not affect shop's work in any way, it's still accepting orders.
Orders information was not exposed and BitMine received all the customer's funds.

All special offers are still in place.

50btc.com - PPS pool, instant payout (Visa, Liberty Reserve, QIWI, Yandex.Money, WebMoney,...), API, fast and responsible support, pay for stale shares.
An amorous cow-herder
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October 21, 2013, 03:44:34 PM
 #877

I think some of the really interesting info would be,
a.) were any bitcoins stolen during the hack?
b.) will the actual users balance be restored or will there be losses?
c.) how long until normal operations are restored?

Probably not the only wanting those questions answered.
frelex
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October 21, 2013, 04:21:10 PM
 #878

New DDOS Attack...
Or they shout down!   Grin
gsm4gulf
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October 21, 2013, 10:35:47 PM
 #879

40btc.com
plz help meeeeeeeeeeeeeeeee

my problem is another than others !!

others have fake number of bitcoins !!!

for me I CANNOT EVEN LOGIN AND SERVER SAYS MY EMAIL NOT AVAILABLE !!!! PLZ HELP ME ..

TNX V MUCH
JackPatrick
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October 22, 2013, 12:01:15 PM
 #880

hope dis will be fixed

at least they've set 0% DGM
is it more profitable than PPS?
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