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Author Topic: decentralized Bitcoin are highly centralized to mtgox!11  (Read 26991 times)
Mahkul
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May 02, 2011, 11:29:58 PM
 #121

Going back to the subject, we simply need a decentralized solution, as the topic says. If Wikileaks can have their servers everywhere - why can't Bitcoin? There are so many geeks here we surely could come up with something. Besides, the more exchanges the better; some people blame mtgox for being a monopolist (I know this is an exaggeration). Why don't they go ahead and create their own exchange? Instead of complaining just do something.

All these attacks only prove how much we depend on mtgox, we should learn from this and get ourselves together to come up with a decentralized system.

Bitalo.com coming soon!

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There are several different types of Bitcoin clients. Header-only clients like MultiBit trust that the majority of mining power is honest for the purposes of enforcing network rules such as the 21 million BTC limit. Full clients do not trust miners in this way.
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mewantsbitcoins
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May 02, 2011, 11:37:49 PM
 #122

Going back to the subject, we simply need a decentralized solution, as the topic says. If Wikileaks can have their servers everywhere - why can't Bitcoin? There are so many geeks here we surely could come up with something. Besides, the more exchanges the better; some people blame mtgox for being a monopolist (I know this is an exaggeration). Why don't they go ahead and create their own exchange? Instead of complaining just do something.

All these attacks only prove how much we depend on mtgox, we should learn from this and get ourselves together to come up with a decentralized system.

The other night I was thinking about it and come to a conclusion that we need something portable and universal, so that anybody can download it and run it. This piece of software would connect and sync to other nodes and anybody wanting to trade could connect to any of these nodes. Unfortunately I don't have the knowledge to implement such system. Is it even feasible?
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May 02, 2011, 11:41:42 PM
 #123

Going back to the subject, we simply need a decentralized solution, as the topic says. If Wikileaks can have their servers everywhere - why can't Bitcoin? There are so many geeks here we surely could come up with something. Besides, the more exchanges the better; some people blame mtgox for being a monopolist (I know this is an exaggeration). Why don't they go ahead and create their own exchange? Instead of complaining just do something.

All these attacks only prove how much we depend on mtgox, we should learn from this and get ourselves together to come up with a decentralized system.

The other night I was thinking about it and come to a conclusion that we need something portable and universal, so that anybody can download it and run it. This piece of software would connect and sync to other nodes and anybody wanting to trade could connect any of these nodes. Unfortunately I don't have the knowledge to implement such system. Is it even feasible?

Satoshi! Come back, man.

Bitalo.com coming soon!

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Mahkul
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May 02, 2011, 11:51:46 PM
 #124

It would be very difficult. While it is possible to code an exchange using a distributed database system (although pretty difficult imo) and just spread this code onto a number of servers, the bank account accepting funds would have to be central. Such a system perhaps would solve the DDoS problem, but not the future problem where the bank account gets shut down by government or something. Hm, maybe it wouldn't have to be central, but the withdrawals would be pretty difficult to organize I think.

Bitalo.com coming soon!

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May 03, 2011, 12:03:22 AM
 #125

There's always the cutout method. Each exchange customer opens a bank account, sends one ATM card to the exchange operator and keeps the other. To send money to the exchange, the customer deposits into the account and notifies the exchanger. To withdraw money, the customer notifies the exchanger and then withdraws from the account.

Doesn't scale super well, but it could be that the "exchanger" is a BIG exchanger and the "customer" is a more regional exchanger, who then deals with individuals.
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May 03, 2011, 04:45:17 AM
 #126

New thread for discussion of decentralized and/or distributed exchange networks:
http://bitcointalk.org/index.php?topic=7096
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May 03, 2011, 11:24:36 AM
 #127

bitcoinex, could you just tell us how old you are please?

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May 03, 2011, 11:38:59 AM
 #128

He is 5 years old Tongue

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May 03, 2011, 11:55:10 AM
 #129

He is 5 years old Tongue

lol.
mennoman
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May 03, 2011, 12:24:36 PM
 #130

hey,

I was asking bitcoinex and I wasn't joking! It is clear how old you guys are!

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May 03, 2011, 08:31:04 PM
 #131

DDoS is the opposite of free speech.  You are silencing someone else's speech, by brute force.

In my mind it has the same legitimacy as - say - a demonstration stopping an atomic waste transport.

When anonymous attacked sites of corporations linked to cutting off wikileaks funding, I was happily smiling, so I can't say, DDOS is bad per se. Neither is it silencing speech in my mind (at least not in this case, MagilTux is still talking as far as I can tell)

But: The point was made 2 days ago and publicity gained. Continuing the ddos now is just incurring damage (possibly to a competitor) and not legitimate in my moral understanding. The people that stop castor transports let it pass after a while, point made, they're in the news. Continuing would just burden society with uneccessary policing cost and would also be dangerous.

---

Also: While I can understand people are getting a little emotional, I have a problem with the tone of speech of posts here. I'm not defending bitcoinex, but putting your ass where your mouth should be is just not how we should talk to each other, even the most evil wrongdoers, and helps noone. It's also feeding the trolls.

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SmokeTooMuch
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May 03, 2011, 09:34:35 PM
 #132

But: The point was made 2 days ago and publicity gained. Continuing the ddos now is just incurring damage (possibly to a competitor) and not legitimate in my moral understanding. The people that stop castor transports let it pass after a while, point made, they're in the news. Continuing would just burden society with uneccessary policing cost and would also be dangerous.
Well, actually they try to block them as long as they can but usually get evacuated by the police.
At least that's how it works in Germany.
Nobody would go to a castor transport stop attempt without having the goal to really stop it.
If it wasn't for the police, these people would build small towns right on the castor transport rails.

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May 03, 2011, 09:59:36 PM
 #133

By the way, I am announcing collecting donations for the ddos of mtgox for decreasing exchange rates!

1AvGzvwCxELCaJsxdzunhYTzTL6GVa2xvR

haxorz! please send letter to support@btcex.com and give your money for that work!


This is insanity what you just did.

You have made yourself look childish, unprofessional & simply immoral.
Also, you completely & totally undermined reputation of your exchange !

I will never trade anything on btcex.com after this has happened...  And i will tell all of my friends to never use it.

As of now, I view btcex.com as a FRAUD site.

----
Also, WTF ? :

Quote from: https://btcex.com/
Site will be opened on 5th may. Please, be patient.

All your money are saved.
You can withdraw your money right after site will be opened.

You can contacts us on any questions by support@btcex.com

Sorry for any inconvenience.

Where is the REASON for closure ?

Darth Severus
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May 03, 2011, 10:06:24 PM
 #134

The other night I was thinking about it and come to a conclusion that we need something portable and universal, so that anybody can download it and run it. This piece of software would connect and sync to other nodes and anybody wanting to trade could connect to any of these nodes. Unfortunately I don't have the knowledge to implement such system. Is it even feasible?
Simply a tradingsite inside Tor and using Tor browser. Or everything to Syndie (lol, their website is also offline), it´s dezentral and works over different anonnetworks.

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LZ
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May 03, 2011, 10:07:44 PM
 #135

As of now, I view btcex.com as a FRAUD site.

But it is not the fraud site. There are fewer users than on Mt.Gox but no one was deceived. Undecided

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May 03, 2011, 10:09:57 PM
 #136

But it is not the fraud site.

It is for me.

I do not view a site of which owner coordinates DDoSes as a honest business. Therefore it is fraud. As far as i care.

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May 03, 2011, 10:14:01 PM
 #137

Okay. As for me I can not be sure was it his DDoS attack or not. Read this. Undecided

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ShadowOfHarbringer
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May 03, 2011, 10:16:55 PM
 #138

Okay. As for me I can not be sure was it his DDoS attack or not.

Doesn't matter.
He encouraged people/hackers to attack a rival exchange. That is enough. This is far from honest business.

BitterTea
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May 03, 2011, 10:21:47 PM
 #139

Doesn't matter.
He encouraged people/hackers to attack a rival exchange. That is enough. This is far from honest business.

I agree, but technically, there is nothing fraudulent about it. He was quite open with his support for the DoS.
mewantsbitcoins
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May 03, 2011, 10:23:00 PM
 #140

Okay. As for me I can not be sure was it his DDoS attack or not.

Doesn't matter.
He encouraged people/hackers to attack a rival exchange. That is enough. This is far from honest business.

Get over yourself. He might not be the nicest guy in the world, but there's nothing wrong with his site
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