Bitcoin Forum
December 05, 2016, 04:39:06 AM *
News: Latest stable version of Bitcoin Core: 0.13.1  [Torrent].
 
   Home   Help Search Donate Login Register  

Warning: Moderators do not remove likely scams. You must use your own brain: caveat emptor. Watch out for Ponzi schemes. Do not invest more than you can afford to lose.

Pages: [1]
  Print  
Author Topic: [ANN] GLBSE hot wallet empty, withdrawals delayed  (Read 1864 times)
Nefario
Hero Member
*****
Offline Offline

Activity: 602


GLBSE Support support@glbse.com


View Profile WWW
June 21, 2012, 03:19:15 PM
 #1

Our hot wallet has run dry,

the timing of this has coincided with the messing up of the bitcoin client that normally handles our cold storage.

We have to wait for the blockchain to download before we're able to top up our hotwallet.

This means that all withdrawals are going to be delayed for 4 more hours at least (it's already been a little over 12 hours since this problem started).

All bitcoin that we've kept in coldstorage is perfectly safe, and this is nothing more than a delay.

Sorry for any trouble this may cause.

Nefario.


PGP key id at pgp.mit.edu 0xA68F4B7C

To get help and support for GLBSE please email support@glbse.com
1480912746
Hero Member
*
Offline Offline

Posts: 1480912746

View Profile Personal Message (Offline)

Ignore
1480912746
Reply with quote  #2

1480912746
Report to moderator
1480912746
Hero Member
*
Offline Offline

Posts: 1480912746

View Profile Personal Message (Offline)

Ignore
1480912746
Reply with quote  #2

1480912746
Report to moderator
1480912746
Hero Member
*
Offline Offline

Posts: 1480912746

View Profile Personal Message (Offline)

Ignore
1480912746
Reply with quote  #2

1480912746
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1480912746
Hero Member
*
Offline Offline

Posts: 1480912746

View Profile Personal Message (Offline)

Ignore
1480912746
Reply with quote  #2

1480912746
Report to moderator
John (John K.)
Global Troll-buster and
Legendary
*
Offline Offline

Activity: 1092


Will read PM's. Have more time lately


View Profile
June 21, 2012, 03:24:22 PM
 #2

Better then the risk of loss of coinage through a huge hot wallet though.  Grin

My BTC Tip Jar: 1Pgvfy19uwtYe5o9dg3zZsAjgCPt3XZqz9 , GPG ID: B3AAEEB0 ,OTC ID: johnthedong
Escrow service is available on a case by case basis! (PM Me to verify I'm the escrow!)

waltmarkers
Member
**
Offline Offline

Activity: 104


View Profile
June 21, 2012, 03:41:13 PM
 #3

Thanks for the update, that makes you a class act.

THis does point out a real problem though - I shouldn't have to download an entire 2.3 GB file to send a few coins when I have to reinstall a client. There should be trusted block chain that can be downloaded faster & validated, or the ability to validate needed chain pieces on a mirror.
unclescrooge
aka Raphy
Hero Member
*****
Offline Offline

Activity: 868


View Profile
June 21, 2012, 03:42:54 PM
 #4

Thanks for the update, that makes you a class act.

THis does point out a real problem though - I shouldn't have to download an entire 2.3 GB file to send a few coins when I have to reinstall a client. There should be trusted block chain that can be downloaded faster & validated, or the ability to validate needed chain pieces on a mirror.

There's an ongoing discussion about this problem, I think they can use a hand: https://bitcointalk.org/index.php?topic=88208.0 Smiley

rjk
Sr. Member
****
Offline Offline

Activity: 420


1ngldh


View Profile
June 21, 2012, 03:59:11 PM
 #5

As a stop-gap until scalability issues are sorted, this link can be faster than a standard download: http://eu1.bitcoincharts.com/blockchain/
However, you must rescan all addresses after importing that.

Coming from Bitcoincharts, I would consider it trusted.

Mining Rig Extraordinaire - the Trenton BPX6806 18-slot PCIe backplane [PICS] Dead project is dead, all hail the coming of the mighty ASIC!
Nefario
Hero Member
*****
Offline Offline

Activity: 602


GLBSE Support support@glbse.com


View Profile WWW
June 21, 2012, 03:59:55 PM
 #6

Yeah I'd already downloaded the blockchain from sourceforge but it only goes up to March.

While doing this I did look at electrum but just got errors when I tried to send any coins, so that was a no go.

Personally I think the electrum model is the best but the client is not really usable at the moment.

PGP key id at pgp.mit.edu 0xA68F4B7C

To get help and support for GLBSE please email support@glbse.com
MrTeal
Legendary
*
Offline Offline

Activity: 1246


View Profile
June 21, 2012, 04:02:44 PM
 #7

I don't understand, why post this here? When you have issues like this you're supposed to keep them on the down low until enough people start complaining, and then blame them until you have time to resolve the situation. Geez, you brown nosers are going to give everyone else a bad name. Tongue
Tachikoma
Hero Member
*****
Offline Offline

Activity: 938



View Profile WWW
June 21, 2012, 04:09:08 PM
 #8

Yeah I'd already downloaded the blockchain from sourceforge but it only goes up to March.

While doing this I did look at electrum but just got errors when I tried to send any coins, so that was a no go.

Personally I think the electrum model is the best but the client is not really usable at the moment.

What kind of errors did you get?

Electrum: the convenience of a web wallet, without the risks | Bytesized Seedboxes BTC/LTC supported
zerokwel
Sr. Member
****
Offline Offline

Activity: 466



View Profile
June 21, 2012, 04:11:24 PM
 #9

I don't understand, why post this here? When you have issues like this you're supposed to keep them on the down low until enough people start complaining, and then blame them until you have time to resolve the situation. Geez, you brown nosers are going to give everyone else a bad name. Tongue

LOL sorry I found this funny Smiley.


brendio
Hero Member
*****
Offline Offline

Activity: 518


Firstbits: 1Brendio


View Profile
June 22, 2012, 04:22:02 AM
 #10

I just had a withdrawal go through in reasonable time, so I assume these issues have now been dealt with. Can you provide an update, Nefario?

ciuciu
Donator
Hero Member
*
Offline Offline

Activity: 588


View Profile
June 22, 2012, 12:44:20 PM
 #11

I have opened a support ticket for 5 days with Nefario. Do anybody know what is happening?

nimda
Hero Member
*****
Offline Offline

Activity: 784


0xFB0D8D1534241423


View Profile
June 22, 2012, 06:04:37 PM
 #12

I don't understand, why post this here? When you have issues like this you're supposed to keep them on the down low until enough people start complaining, and then blame them until you have time to resolve the situation. Geez, you brown nosers are going to give everyone else a bad name. Tongue

LOL sorry I found this funny Smiley.




Yes, +1  Thank you for being open and public about issues. That is very important to many of us.
This ++ Smiley

I recommend asking me for a signature from my GPG key before doing a trade. I will NEVER deny such a request.
ciuciu
Donator
Hero Member
*
Offline Offline

Activity: 588


View Profile
June 22, 2012, 06:18:17 PM
 #13

I have opened a support ticket for 5 days with Nefario. Do anybody know what is happening?

He got back to me today.

Thank you Nefario.

Nefario
Hero Member
*****
Offline Offline

Activity: 602


GLBSE Support support@glbse.com


View Profile WWW
June 23, 2012, 12:15:17 PM
 #14

Update, wallets empty again.

PGP key id at pgp.mit.edu 0xA68F4B7C

To get help and support for GLBSE please email support@glbse.com
Sukrim
Legendary
*
Offline Offline

Activity: 1848


View Profile
June 23, 2012, 02:48:17 PM
 #15

A secure longer term solution could be simply paying out only of cold storage a few times per day.
The insecure alternative would be only operating a hot wallet.

Is it really that necessary to have bitcoins confirmed in your wallet in ~1 hour? Within 24h would be fine for me as well, if it is more secure and it would still be faster than bank transfers.

Also P2SH might be interesting to evaluate, though I still haven't seen some real implementations of that... considering Gavin was acting as if it has to be done asap and better yesterday than today, it seems a little bit weird in hindsight.

https://bitfinex.com <-- leveraged trading of BTCUSD, LTCUSD and LTCBTC (long and short) - 10% discount on fees for the first 30 days with this refcode: x5K9YtL3Zb
Mail me at Bitmessage: BM-BbiHiVv5qh858ULsyRDtpRrG9WjXN3xf
btharper
Sr. Member
****
Offline Offline

Activity: 389



View Profile
June 23, 2012, 11:22:42 PM
 #16

A secure longer term solution could be simply paying out only of cold storage a few times per day.
The insecure alternative would be only operating a hot wallet.

Is it really that necessary to have bitcoins confirmed in your wallet in ~1 hour? Within 24h would be fine for me as well, if it is more secure and it would still be faster than bank transfers.

Also P2SH might be interesting to evaluate, though I still haven't seen some real implementations of that... considering Gavin was acting as if it has to be done asap and better yesterday than today, it seems a little bit weird in hindsight.

Trying to run a pirate pass though when the delay is 24 hours is massive fail if we have to pay out 6.8%   
What about a small fee (0.05%?) For hot wallet transactions and free cold transactions within whatever timeframe Nefario wants to offer.

Any thoughts?
Kluge
Donator
Legendary
*
Offline Offline

Activity: 1218


Michael, send me some coins before I hitman you


View Profile
June 23, 2012, 11:31:23 PM
 #17

A secure longer term solution could be simply paying out only of cold storage a few times per day.
The insecure alternative would be only operating a hot wallet.

Is it really that necessary to have bitcoins confirmed in your wallet in ~1 hour? Within 24h would be fine for me as well, if it is more secure and it would still be faster than bank transfers.

Also P2SH might be interesting to evaluate, though I still haven't seen some real implementations of that... considering Gavin was acting as if it has to be done asap and better yesterday than today, it seems a little bit weird in hindsight.

Trying to run a pirate pass though when the delay is 24 hours is massive fail if we have to pay out 6.8%   
What about a small fee (0.05%?) For hot wallet transactions and free cold transactions within whatever timeframe Nefario wants to offer.

Any thoughts?
It wouldn't solve someone wanting a large amount of BTC immediately to put into something else if the hot wallet's refill amount is less than the amount being withdrawn -- it'll always still require Nef manually refill the hot wallet. I think that's what is causing problems -- someone like Goat wanting the huge investment money to deposit in Pirate - and it results in massive losses for him to wait for the BTC. It would be nice if how many coins remain in the hot wallet were displayed on GLBSE so we can better-plan our withdrawals.

Don't mix your coins someone said isn't legal
Bitcoin Oz
Hero Member
*****
Offline Offline

Activity: 700


Wat


View Profile WWW
June 24, 2012, 03:03:37 AM
 #18

A secure longer term solution could be simply paying out only of cold storage a few times per day.
The insecure alternative would be only operating a hot wallet.

Is it really that necessary to have bitcoins confirmed in your wallet in ~1 hour? Within 24h would be fine for me as well, if it is more secure and it would still be faster than bank transfers.

Also P2SH might be interesting to evaluate, though I still haven't seen some real implementations of that... considering Gavin was acting as if it has to be done asap and better yesterday than today, it seems a little bit weird in hindsight.

Trying to run a pirate pass though when the delay is 24 hours is massive fail if we have to pay out 6.8%   
What about a small fee (0.05%?) For hot wallet transactions and free cold transactions within whatever timeframe Nefario wants to offer.

Any thoughts?
It wouldn't solve someone wanting a large amount of BTC immediately to put into something else if the hot wallet's refill amount is less than the amount being withdrawn -- it'll always still require Nef manually refill the hot wallet. I think that's what is causing problems -- someone like Goat wanting the huge investment money to deposit in Pirate - and it results in massive losses for him to wait for the BTC. It would be nice if how many coins remain in the hot wallet were displayed on GLBSE so we can better-plan our withdrawals.

Do you think that would introduce a security risk ?

btharper
Sr. Member
****
Offline Offline

Activity: 389



View Profile
June 24, 2012, 03:33:59 AM
 #19

A secure longer term solution could be simply paying out only of cold storage a few times per day.
The insecure alternative would be only operating a hot wallet.

Is it really that necessary to have bitcoins confirmed in your wallet in ~1 hour? Within 24h would be fine for me as well, if it is more secure and it would still be faster than bank transfers.

Also P2SH might be interesting to evaluate, though I still haven't seen some real implementations of that... considering Gavin was acting as if it has to be done asap and better yesterday than today, it seems a little bit weird in hindsight.

Trying to run a pirate pass though when the delay is 24 hours is massive fail if we have to pay out 6.8%   
What about a small fee (0.05%?) For hot wallet transactions and free cold transactions within whatever timeframe Nefario wants to offer.

Any thoughts?
It wouldn't solve someone wanting a large amount of BTC immediately to put into something else if the hot wallet's refill amount is less than the amount being withdrawn -- it'll always still require Nef manually refill the hot wallet. I think that's what is causing problems -- someone like Goat wanting the huge investment money to deposit in Pirate - and it results in massive losses for him to wait for the BTC. It would be nice if how many coins remain in the hot wallet were displayed on GLBSE so we can better-plan our withdrawals.
The big result would be that people would be less inclined to use the hot wallet. It may be easier for Nefario to as a little extra to the wallet on Monday figuring this quick use is from that.

In the "just crazy enough to work" line of thought, if there was a hot wallet fee, why not alert and allow other people to add funds to the hot wallet to claim the fee for themselves. The setup and implementation would be a pain more than likely, but it might lower the time for the wallet to fill up again. (The fee should keep people from gaming the system).
Bitcoin Oz
Hero Member
*****
Offline Offline

Activity: 700


Wat


View Profile WWW
June 24, 2012, 03:47:21 AM
 #20

I like the idea of people covering the hot wallet deposits for the fee.

Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!