|
Laviathon
|
 |
August 02, 2016, 11:50:27 PM
Last edit: August 03, 2016, 12:08:03 AM by Laviathon |
|
Is the drop today because of bitfinex getting hacked? I also noticed coinbase if offline for supposedly maintenance.
|
|
|
|
|
|
|
|
|
|
|
|
|
"Governments are good at cutting off the heads of a centrally
controlled
networks like Napster, but pure P2P networks like Gnutella and Tor seem
to be holding their own." -- Satoshi
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
|
|
|
Sierra8561
|
|
August 03, 2016, 12:00:40 AM |
|
Is the drop today because of bitfinex getting hacked? I also noticed coinable if offline for supposedly maintenance.
I'm sure that is playing a big part of it. Also the bitcoin core had a closed door meeting on block size again. Supposedly once again nothing was accomplished. |
|
|
|
|
kano (OP)
Legendary
 Offline
Activity: 4494
Merit: 1808
Linux since 1997 RedHat 4
|
|
August 03, 2016, 12:08:09 AM |
|
I think most of us on this board know better...we've sure discussed the crap out of it. I lost 1K BTC at Mt. Gox. Never again.
1K BTC, that sounds very painful. It was. Quite. Of course, that was back in "the day" when that much BTC basically got me a cup of coffee at the local joint. You could mine with a decent laptop (which was what I did for a while in the beginning...then a Radeon R9, then an S2, then the S3s, then the S7s...now, hopefully a couple of Avalons). Today...well, I wouldn't be living where I am (subsidized, a nice but small "hooch" in paradise, and 30A of service...) if I had that still, but I don't cry over it. I had to start over not because of Mt. Gox (although I know someone who did have to do that...they still haven't really recovered), but because of the market crash in '07, and a medical crisis. I lost everything. I'm quite OK now, and moving on. Retirement isn't so bad, even when it's sorta kinda forced on you.  Oh  Long before the final time MtGox took everyone's BTC and went belly up I was about to say ... 1K BTC was like about $800,000 at the end I only lost a bit over 10BTC in MtGox - $8k - trying to move some BTC -> $ over the month when it happened ... bad timing ... though it did mean the difference between moving and having to stay where I live ... (my only other loss was 5BTC in weex - again moving some BTC -> $) |
|
|
|
kano (OP)
Legendary
Offline
Activity: 4494
Merit: 1808
Linux since 1997 RedHat 4
|
|
August 03, 2016, 12:13:28 AM |
|
Is the drop today because of bitfinex getting hacked? I also noticed coinable if offline for supposedly maintenance.
I'm sure that is playing a big part of it. Also the bitcoin core had a closed door meeting on block size again. Supposedly once again nothing was accomplished. Bitcoin core devs wants SegWit and Sidechains - not block size increases. They want that coz it means moving txn rewards away from miners to them (and centralisation to them) I'm guessing sooner or later the pools will get together and do something about a small block size increase. Garzik had a solution, but that was simply a scam to make the pools happy, he never intended on implementing it. Bitcoin is mining - that's how it is by design. No mining = no transactions. More mining = more security. If they want something else, go create a scam coin alt coin and play with that. |
|
|
|
|
Sierra8561
|
|
August 03, 2016, 12:21:33 AM |
|
Is the drop today because of bitfinex getting hacked? I also noticed coinable if offline for supposedly maintenance.
I'm sure that is playing a big part of it. Also the bitcoin core had a closed door meeting on block size again. Supposedly once again nothing was accomplished. Bitcoin core devs wants SegWit and Sidechains - not block size increases. They want that coz it means moving txn rewards away from miners to them (and centralisation to them) I'm guessing sooner or later the pools will get together and do something about a small block size increase. Garzik had a solution, but that was simply a scam to make the pools happy, he never intended on implementing it. Bitcoin is mining - that's how it is by design. No mining = no transactions. More mining = more security. If they want something else, go create a scam coin alt coin and play with that. Sounds like the core team is trying to achieve what bitcoin in part was designed to get rid of? Centralization. |
|
|
|
|
|
Laviathon
|
|
August 03, 2016, 12:27:18 AM |
|
When we reach the end if there is only no TX who will mine to sustain the network...... I don't see how they don't think thats a bad idea.
|
|
|
|
|
traxor
|
|
August 03, 2016, 12:41:36 AM |
|
Hey Kano -- I've noticed that a Core developer offered the suggestion of a retrace to recapture the stolen coin from Finex.
I'm assuming that they would need 51% of mining power approval -- 144 blocks (since the theft) = 1800 btc which, presumably, Finex would pay.
What are your thoughts on this as controller of a mining pool?
p.s. I also was goxxxed...
|
|
|
|
|
-ck
Legendary
Offline
Activity: 4102
Merit: 1632
Ruu \o/
|
|
August 03, 2016, 12:51:36 AM |
|
Hey Kano -- I've noticed that a Core developer offered the suggestion of a retrace to recapture the stolen coin from Finex.
I'm assuming that they would need 51% of mining power approval -- 144 blocks (since the theft) = 1800 btc which, presumably, Finex would pay.
What are your thoughts on this as controller of a mining pool?
This would be a disastrous move for bitcoin as it undermines one of the expected truths of the blockchain. It is NOT the responsibility of the blockchain to fix one company's security issues or deal with scams and so on. The blockchain is not the police and should not be viewed as such. If we do it for bitfinex why not roll all the way back to before mtgox? No, this would make confidence reach an all time low in bitcoin. Just because some other shitcoin did this, doesn't mean bitcoin should. |
Developer/maintainer for cgminer, ckpool/ckproxy, and the -ck kernel
2% Fee Solo mining at solo.ckpool.org
-ck
|
|
|
AmbH
Newbie
Offline
Activity: 15
Merit: 0
|
|
August 03, 2016, 12:53:42 AM |
|
This would be a disastrous move for bitcoin as it undermines one of the expected truths of the blockchain.
+1 |
|
|
|
|
firetreeactual
Legendary
Offline
Activity: 952
Merit: 1003
|
|
August 03, 2016, 01:00:03 AM |
|
Hey Kano -- I've noticed that a Core developer offered the suggestion of a retrace to recapture the stolen coin from Finex.
I'm assuming that they would need 51% of mining power approval -- 144 blocks (since the theft) = 1800 btc which, presumably, Finex would pay.
What are your thoughts on this as controller of a mining pool?
This would be a disastrous move for bitcoin as it undermines one of the expected truths of the blockchain. It is NOT the responsibility of the blockchain to fix one company's security issues or deal with scams and so on. The blockchain is not the police and should not be viewed as such. If we do it for bitfinex why not roll all the way back to before mtgox? No, this would make confidence reach an all time low in bitcoin. Just because some other shitcoin did this, doesn't mean bitcoin should. Ditto. Not for the faint of heart. I would not support such efforts (and there were some) at the time (Gox), and I don't now. I knew the risks...although, of course, at that point in the Mesozoic era, spot was expressed in USD mils...it wasn't "how many dollars in a Bitcoin"...it was "how many Bitcoin in a dollar." I notice CB was down for a bit, but when I checked again a few minutes ago they were up. CEX didn't have any issues I know of. Those are the two I use. Didn't look at the trading volume. |
To infinity and beyond...on two 741s and one of only 3...nope, make that 4...full nodes in Hawaii...on <30A. (I have other gear on the Hoth ice planet)
|
|
|
|
traxor
|
|
August 03, 2016, 01:08:05 AM |
|
I appreciate the response -- I was actually surprised when it was mentioned by said developer on Reddit -- and Zane (guy from Finex) jumped all over the suggestion. Asked to immediately get in touch with him via direct message.
Philosophically, I understand your position -- and don't necessarily disagree. The "reasonable" side of me might think otherwise. However, the blockchain MUST ensure trust. Regardless of faulty platforms built upon it.
|
|
|
|
|
kano (OP)
Legendary
Offline
Activity: 4494
Merit: 1808
Linux since 1997 RedHat 4
|
|
August 03, 2016, 01:29:40 AM |
|
Let me put it this way: Bitcoin is a peer2peer blockchain with one unavoidable risk - 51% ... not some toy for moron devs to suggest breaking the rules and rolling back blocks/transactions. Either Bitfinex fucked up or someone in Bitfinex just made a lot of BTC. Either way, the blocks in the blockchain say, yep those transactions have been confirmed that moved BTC. End of story. Again similar to what I said further above  This is Bitcoin. If you want some reversible scamcoin (like ETH) go play with that. |
|
|
|
|
VRobb
|
|
August 03, 2016, 01:41:24 AM |
|
I like how you think, kano-san. This is a bitfinex problem, not a btc/blockchain problem. Yet another amateur hour move by some exchange costing millions to many due to mere incompetence. Keep your own damn keys, people, and remember the paranoid maxim: trust no one.
|
I don't believe in superstition because it's bad luck: 13thF1oor6CAwyzyxXPNnRvu3nhhYeqZdc
These aren't the Droids you're looking for: S5 & S7 (Sold), R4B2, R4B4 (RIP), 2x S9 obsolete, 2xS15-28, S17-56, S17-70
Pushing a whopping 1/5 PH! Oh The SPEED!!!
|
|
|
|
traxor
|
|
August 03, 2016, 01:53:07 AM |
|
VRobb -- that is a little harsh. If you were a "verified" Finex user (as I am/was), you held 1 of the 3 keys through Bitgo (their 3rd party security blanket). It would be impossible for an exchange to allow you complete control of all keys.
I'm still unclear as to "how" the theft happened -- but in my research it points to a bitcointalk member from Germany -- I'll leave it at that.
|
|
|
|
|
|
VRobb
|
|
August 03, 2016, 02:00:23 AM |
|
OT but I meant that as a warning, certainly feel for all those who lost value due to this. Not your fault, also my main point in that someone else held the key...
And now, back to our regularly scheduled program!
|
I don't believe in superstition because it's bad luck: 13thF1oor6CAwyzyxXPNnRvu3nhhYeqZdc
These aren't the Droids you're looking for: S5 & S7 (Sold), R4B2, R4B4 (RIP), 2x S9 obsolete, 2xS15-28, S17-56, S17-70
Pushing a whopping 1/5 PH! Oh The SPEED!!!
|
|
|
|
wolfen
|
|
August 03, 2016, 02:07:47 AM |
|
It is a frickin nightmare for those folks.
|
For those about to block we salute you! AC->BTC
|
|
|
firetreeactual
Legendary
Offline
Activity: 952
Merit: 1003
|
|
August 03, 2016, 02:10:32 AM |
|
I also feel for them, having been there. No blame. I do have to, given my retired profession, agree with Esteemed Leader  in that very likely, someone at Finex has a lot more BTC. |
To infinity and beyond...on two 741s and one of only 3...nope, make that 4...full nodes in Hawaii...on <30A. (I have other gear on the Hoth ice planet)
|
|
|
citronick
Legendary
Offline
Activity: 1834
Merit: 1080
---- winter*juvia -----
|
|
August 03, 2016, 04:23:08 AM |
|
Let me put it this way: Bitcoin is a peer2peer blockchain with one unavoidable risk - 51% ... not some toy for moron devs to suggest breaking the rules and rolling back blocks/transactions. Either Bitfinex fucked up or someone in Bitfinex just made a lot of BTC. Either way, the blocks in the blockchain say, yep those transactions have been confirmed that moved BTC. End of story. Again similar to what I said further above This is Bitcoin. If you want some reversible scamcoin (like ETH) go play with that. ...the sky is falling in that part of the crypto world... good riddance, IMHO. I hope the BTC price will bounce back soon and be more resistant to crypto dramas. |
If I provided you good and useful info or just a smile to your day, consider sending me merit points to further validate this Bitcointalk account ~ useful for future account recovery...
|
|
|
|
delicin33
|
|
August 03, 2016, 07:13:12 AM
Last edit: August 03, 2016, 07:24:20 AM by delicin33 |
|
...the sky is falling in that part of the crypto world... good riddance, IMHO.
I hope the BTC price will bounce back soon and be more resistant to crypto dramas.
And our 1st block for today..by tich13 |
|
|
|
|
kano (OP)
Legendary
Offline
Activity: 4494
Merit: 1808
Linux since 1997 RedHat 4
|
|
August 03, 2016, 10:30:01 AM |
|
Having connectivity problems on the DE node (for the 2nd time in the last few hours)
There's a problem in the network connecting to the DE server and seems at the moment it can't keep anything connected.
Hopefully anyone connected to the DE node has a backup to at least one of the other nodes in EU.
Awaiting a reply from the provider.
Was both DE an FR, but NL and JP were OK. But they've resolved it now so DE and FR are back OK again. |
|
|
|
|
