[XCR] Crypti | Dapps | Sidechains | Dapp Store | OPEN SOURCE | 100% own code | DPoS

[Wulfcastle]

@Devs

With all the drama that has gone on today, have you contacted BTER about the Genesis block distribution and do you have any ETA on launch at this point in time? I understand that these circumstances are in no way your fault, but we'd hate to have to wait another week as BTER try to fix this pathetic mess that they've got themselves into.

[PilotofBTC]

I don't understand why you have to re-do the genesis block. If you created it and launched mainnet running on private nodes why not let it run until they are ready to go on line.

Can you explain this again?

[Quantumtangles]

BTER withdrawals are enabled, woohoo   Getting my BTC out and done with exchanges for now. Will be sitting on my BTC and XMR locked away and finish some IPO's that I still got going. After that, I'll just wait for proper P2P exchanges

You got yours out? My withdrawal is still pending..

Edit: YEP! WORKING!

Edit2: See, like I said it.

Did your withdrawal succeed? Mine not, started doing something but now stuck at 'waiting for balance'. Seems like it's stuck in an empty hot wallet

Just withdrew about 5 BTC. Said processing initially

btc withdrawals are working and even other coins like via.

I sold XCR at about 1550 some 4 hours ago when I found out about the NXT heist at BTER. I withdrew the BTC proceeds but it took some 3.5 hours for the withdrawal to take place from BTER. However, the withdrawal has been confirmed to my external wallet pending 6 confirmations. Not sure whether to move the BTC back to BTER and trade in XCR whilst the price is low or keep the BTC off the exchange until we find out whether BTER have resolved the NXT problem. Your thoughts would be appreciated though may be otiose as the XCR price seems to be climbing back to higher than the price at which I sold.

Quantum,

   Welcome to the graduating class of "THE SCHOOL OF HARD KNOCKS".    You have earned a degree in HERD MENTALITY, and learned a lesson in trading with emotion versus logic.

You have several choices:

Buy back at current prices from Bter

Bid a BUY at your sold price and HOPE

Wait for the wallets to be out and buy XCR privately

Invest in NXT  


Whatever you chose, Good luck in your endeavors.

I think the decision to sell XRC and withdraw BTC from BTER was logical in the immediate aftermath of the NXT heist because the attack vector was not known at that point and other BTER systems might equally well have been looted. Once it became known 2FA was not in place to protect a server, the mystery was no more. A relatively primitive hack causes no concern. A BTER admin had made an obvious mistake. A hacker got lucky.

Accordingly the decision to sell and withdraw BTC to an external wallet was logical at the time the decision was made.

So that you know, I reinvested all the withdrawn BTC in XCR a few hours later. Whereas I sold for approx 1550, I nonetheless ended up owning more XRC (obtained for circa 1400) than I had had to begin with (before the NXT heist). More luck than design no doubt as I would have made considerably more had I continued trading throughout the fiasco.

All in all, an exciting day. I do not, albeit with the benefit of hindsight, regret selling all my XRC before buying it all back (and more) at a lower price

I could have made a lot more money from the days events had it not taken so long for BTER to send BTC to my external wallet and had it not taken so long for confirmations of the BTC transfer back to BTER. The price was circa 1300 whilst I was kept waiting which was indeed bargainous.

Edit: A Cambridge scholar once asked me a simple question. What is emotion, they asked. I did not have an answer and went off to think on it. Eventually I responded with a definition. Emotion, I said, was the assignment of value. You might love this (infinite value assignment), hate that, or be apathetic towards the other. Yes I reacted emotionally, because of the values I assigned. I was nonetheless doing what traders do. I was assigning value. Today, I learnt a thing or too and also, perhaps fortuitously, made money as well.

[crypti]

I don't understand why you have to re-do the genesis block. If you created it and launched mainnet running on private nodes why not let it run until they are ready to go on line.

Can you explain this again?

Because passphrase from crypti bter account can be stolen.
In result we need to change genesis block (bter old address to new address) and we will restart network.

[Litoshi]

I don't understand why you have to re-do the genesis block. If you created it and launched mainnet running on private nodes why not let it run until they are ready to go on line.

Can you explain this again?

Because passphrase from crypti bter account can be stolen.
In result we need to change genesis block (bter old address to new address) and we will restart network.

If so, its more evidence that the hack was an inside job.  They had root access, not just a password hack of the NXT account. 

Bter is changing everything.  

[Wulfcastle]

I don't understand why you have to re-do the genesis block. If you created it and launched mainnet running on private nodes why not let it run until they are ready to go on line.

Can you explain this again?

Because passphrase from crypti bter account can be stolen.
In result we need to change genesis block (bter old address to new address) and we will restart network.

If so, its more evidence that the hack was an inside job.  They had root access, not just a password hack of the NXT account. 

Bter is changing everything.  

This ^^. I don't see how a hacker could the passwords to access the NXT wallet even if he/she/they hacked the BTER servers.

[Bigcabrito]

Is the launch still scheduled for today or postponed till further notice?

[PilotofBTC]

I don't understand why you have to re-do the genesis block. If you created it and launched mainnet running on private nodes why not let it run until they are ready to go on line.

Can you explain this again?

Because passphrase from crypti bter account can be stolen.
In result we need to change genesis block (bter old address to new address) and we will restart network.

Why not just move it all to a new account?

[atleticofa]

Today was the perfect day to buy some Crypti with outlet price.

[Crilloz]

Today was the perfect day to buy some Crypti with outlet price.

Sure was, there is always money to make when shit happens

[informer]

Today was the perfect day to buy some Crypti with outlet price.

Sure was, there is always money to make when shit happens

[crypti]

I don't understand why you have to re-do the genesis block. If you created it and launched mainnet running on private nodes why not let it run until they are ready to go on line.

Can you explain this again?

Because passphrase from crypti bter account can be stolen.
In result we need to change genesis block (bter old address to new address) and we will restart network.

Why not just move it all to a new account?

Fees.

[SyRenity]

Bter update

We got a quick update from Bter regarding timelines. They currently working on securing their systems, and expected to get back to Crypti mainnet integration on Sunday.
This means that in case they complete it within a day (as originally planned), we could launch Crypti as early as on Monday 18/8.


Bter has also provided us with their cold wallet public address, so we could verify the investor funds are intact. We have looked at the wallet located at the address, and can confirm that it contains a significant amount of BTC, which could easily cover the amount that Bter should transfer us on the launch.

[informer]

Bter update

We got a quick update from Bter regarding timelines. They currently working on securing their systems, and expected to get back to Crypti mainnet integration on Sunday.
This means that in case they complete it within a day (as originally planned), we could launch Crypti as early as on Monday 18/8.


Bter has also provided us with their cold wallet public address, so we could verify the investor funds are intact. We have looked at the wallet located at the address, and can confirm that it contains a significant amount of BTC, which could easily cover the amount that Bter should transfer us on the launch.

Please don't forget to post in http://cryptitalk.com/index.php. We're all watching the forum, too.

[Litoshi]

I don't understand why you have to re-do the genesis block. If you created it and launched mainnet running on private nodes why not let it run until they are ready to go on line.

Can you explain this again?

Because passphrase from crypti bter account can be stolen.
In result we need to change genesis block (bter old address to new address) and we will restart network.

If so, its more evidence that the hack was an inside job.  They had root access, not just a password hack of the NXT account. 

Bter is changing everything.  

This ^^. I don't see how a hacker could the passwords to access the NXT wallet even if he/she/they hacked the BTER servers.

I bet it was not a hack, but unauthorized access by an insider, or someone working with an insider.  They had the root password for the server, which gave them access to everything. 

Bter would be able to see this on the log files. 

The theft of the NXT is all we are told about... if they had root access, they would have been able to copy the passwords to the other coin wallets, as well as the passwords to every user account.

It would be prudent for Bter to change anything and everything that the unauthorized access may have copied for future use.

[timmyd]

Have they said if user data has been compromised everyone should change passwords

[Litoshi]

Have they said if user data has been compromised everyone should change passwords

No, but it would be prudent to do so.

[subSTRATA]

Have they said if user data has been compromised everyone should change passwords

If you must be told to change password after a hack that means you are idiot.

The main issue for XCR now seems to be lack of buy orders. 100% coins (tokens) are there on Bter but not even 10% could be sold even if all buy orders end up filled. There is not
much confidence when it comes to XCR, obviously.

[megashira1]

Have they said if user data has been compromised everyone should change passwords

If you must be told to change password after a hack that means you are idiot.

The main issue for XCR now seems to be lack of buy orders. 100% coins (tokens) are there on Bter but not even 10% could be sold even if all buy orders end up filled. There is not
much confidence when it comes to XCR, obviously.

Are you trolling or just trying to get in cheaper? You do understand the present circumstance regarding BTER do you not?

[poornamelessme]

Have they said if user data has been compromised everyone should change passwords

If you must be told to change password after a hack that means you are idiot.

The main issue for XCR now seems to be lack of buy orders. 100% coins (tokens) are there on Bter but not even 10% could be sold even if all buy orders end up filled. There is not
much confidence when it comes to XCR, obviously.

Issue is BTER, not XCR. I expect a lot realize this already, but I don't expect any giant rise in price even after release, UNTIL the coin gets on another exchange. A lot of people simply won't feel comfortable moving btc there. And a lot of people simply never use BTER to begin with.