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ball4thegame (OP)
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February 03, 2012, 08:12:42 PM
Last edit: July 18, 2019, 10:17:23 AM by ball4thegame
 #1

topic is closed
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terrytibbs
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February 15, 2012, 02:14:53 PM
 #2

Just as a friendly heads-up: remember to meet in a public place (at least the for the first trade), and make sure sure you wait for at least one confirmation to eliminate the risk of the person pulling a Finney Attack on you.
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February 15, 2012, 02:46:59 PM
 #3

Just as a friendly heads-up: remember to meet in a public place (at least the for the first trade), and make sure sure you wait for at least one confirmation to eliminate the risk of the person pulling a Finney Attack on you.

What's a Finney Attack? Sounds nasty - does it involve a knife?   Grin
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February 15, 2012, 04:39:17 PM
 #4

Just as a friendly heads-up: remember to meet in a public place (at least the for the first trade), and make sure sure you wait for at least one confirmation to eliminate the risk of the person pulling a Finney Attack on you.

What's a Finney Attack? Sounds nasty - does it involve a knife?   Grin
Basically, the person generates a block in which they move all the bitcoins from address A to address B, but they don't broadcast it to the network. Instead, they make the transaction with you, where they send you the bitcoins for the trade, also from address A.
As soon as you accept the 0-confirmation transaction, they broadcast the block, and that transaction takes precedence because yours wasn't included.

This has only gotten worse lately, as the attacker can purchase a ton of hashing power temporarily for that one block using a service such as GPUMAX.

Long story short: don't accept 0-confirmation transactions. Ever.
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February 17, 2012, 01:35:30 AM
 #5

No takers so far? I'm happy to negotiate the premium over BTC market rates

have you contacted http://bitsyn.com?
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