donk4u
Legendary
Offline
Activity: 889
Merit: 1000
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 08, 2015, 09:33:59 PM |
|
At this point bitstamp is in the process of formulating an effective exit strategy plain and simple. Getting all its ducks in a row to screw everyone out of their money. What have they done ot refute this?
|
|
|
|
Jammalan the Prophet
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 08, 2015, 09:47:21 PM |
|
What is stopping them from proving they have the remaining balance of bitcoins?
It takes what a few minutes at most?
This is something that should have been done days ago.
Proving now they have the coins would stop them to file bankruptcy and claim they have no coins left because of the hack..
|
|
|
|
OhShei8e
Legendary
Offline
Activity: 1792
Merit: 1059
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 08, 2015, 10:29:58 PM |
|
Bitstamp going down like this is a huge red flag for me. I will not be using Bitstamp for a very long time if ever. To lost 10+% of their total customer deposited bitcoins is unacceptable and anyone keeping money or coins there with them after they "reopen" (if they do) deserve to lose their funds as there are many risks to leaving them on there after such an event.
Absolutely right, but have you understood the deeper meaning? What is an alternative? I just try to find out: https://bitcointalk.org/index.php?topic=918149.0 This forum and western people have become unimportant for the Bitcoin economy. Things are happening now in China (where no one is interested in Bitstamp). And I would have to lie, if I would say that I am not deeply worried about that development. We are excellent in blaming each other but unable to behave with integrity and discretion. We do not act like a community. Without China Bitcoin would already be dead as a doornail. People already sitting on their offline wallets. We have 7tx/s bandwidth. Without a trusted and respected ecosystem of enterprises Bitcoin is useless for the masses. Since a long time I'm just watching. Don't trade don't use it anymore. Zerotrust to everyone. ![Embarrassed](https://bitcointalk.org/Smileys/default/embarrassed.gif) I wonder what we can do (not what someone else can do). I love the idea of a free currency. But what's wrong with us if we can achieve this only by China?
|
|
|
|
mayax (OP)
Legendary
Offline
Activity: 1470
Merit: 1004
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 08, 2015, 10:40:42 PM |
|
Bitstamp going down like this is a huge red flag for me. I will not be using Bitstamp for a very long time if ever. To lost 10+% of their total customer deposited bitcoins is unacceptable and anyone keeping money or coins there with them after they "reopen" (if they do) deserve to lose their funds as there are many risks to leaving them on there after such an event.
Absolutely right, but have you understood the deeper meaning? What is an alternative? I just try to find out: https://bitcointalk.org/index.php?topic=918149.0 This forum and western people have become unimportant for the Bitcoin economy. Things are happening now in China (where no one is interested in Bitstamp). And I would have to lie, if I would say that I am not deeply worried about that development. We are excellent in blaming each other but unable to behave with integrity and discretion. We do not act like a community. Without China Bitcoin would already be dead as a doornail. People already sitting on their offline wallets. We have 7tx/s bandwidth. Without a trusted and respected ecosystem of enterprises Bitcoin is useless for the masses. Since a long time I'm just watching. Don't trade don't use it anymore. Zerotrust to everyone. ![Embarrassed](https://bitcointalk.org/Smileys/default/embarrassed.gif) I wonder what we can do (not what someone else can do). I love the idea of a free currency. But what's wrong with us if we can achieve this only by China? All the chinesse exchangers are making a lot of fake transactions. When I am saying fake, it means 1:10. if they report 1000 transactions that means 100. http://www.coindesk.com/chinese-bitcoin-exchange-okcoin-accused-faking-trading-data/http://bitcoinpricelive.com/chinese-bitcoins-crash-market/
|
|
|
|
OhShei8e
Legendary
Offline
Activity: 1792
Merit: 1059
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 08, 2015, 11:00:56 PM Last edit: January 08, 2015, 11:13:01 PM by OhShei8e |
|
All the chinesse exchangers are making a lot of fake transactions. When I am saying fake, it means 1:10. if they report 1000 transactions that means 100.
To be honest. We don't know. But if that were true what you say, then Bitcoin would strongly overvalued at the moment. I do not pay over 200$ for an mostly fake traded asset. How crazy is this? But probably you are right and maybe all is fake in China. Maybe there are only living a few people and the Chinese wall is only a few meters long. Do you have ever seen a Chinese bubble? https://www.youtube.com/watch?v=V3XfpYxHKCoBitcoin is a thousand times smaller. This is only a bubble of many. I don't believe that the exchanges in China need to fake anything. But to be honest: I don't know and it is a useless discussion. In the Western world there are not many exchange driven transactions left. And to be honest again: I'm sure.
|
|
|
|
mayax (OP)
Legendary
Offline
Activity: 1470
Merit: 1004
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 09, 2015, 01:13:06 AM |
|
All the chinesse exchangers are making a lot of fake transactions. When I am saying fake, it means 1:10. if they report 1000 transactions that means 100.
To be honest. We don't know. But if that were true what you say, then Bitcoin would strongly overvalued at the moment. I do not pay over 200$ for an mostly fake traded asset. How crazy is this? But probably you are right and maybe all is fake in China. Maybe there are only living a few people and the Chinese wall is only a few meters long. Do you have ever seen a Chinese bubble? https://www.youtube.com/watch?v=V3XfpYxHKCoBitcoin is a thousand times smaller. This is only a bubble of many. I don't believe that the exchanges in China need to fake anything. But to be honest: I don't know and it is a useless discussion. In the Western world there are not many exchange driven transactions left. And to be honest again: I'm sure. it's not me who is saying that the chinesse exchangers are faking the data but the Bitcoin's propaganda, Coindesk. http://www.coindesk.com/reality-chinese-trading-volumes/Yes, the Bitcoin price is manipulated. is this the first time when you are reading about that? ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
|
|
|
|
picolo
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 09, 2015, 02:30:44 PM |
|
It is frightening to see Bistamp is still inaccessible but it is positive that they take all the time to test their systems. They are not building back everything despite what the CEO said on twitter because it couldn't be safe to rebuild and code everything in a few days.
|
|
|
|
Pustul
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 09, 2015, 10:50:31 PM |
|
They are open for business now ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Unfortunately I don't have my 2FA device on me now so I can't check if withdrawals are possible.
|
|
|
|
gameboyadvance
Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Offline
Activity: 94
Merit: 10
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 09, 2015, 10:52:49 PM |
|
reports are the withdrawals are coming through
|
|
|
|
picolo
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 10, 2015, 02:18:41 PM |
|
yeah, they did't disappoint, true service ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) They were probably "just" hacked of 19 000 BTC and they held enough bitcoins in cold storage.
|
|
|
|
mayax (OP)
Legendary
Offline
Activity: 1470
Merit: 1004
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 10, 2015, 03:04:45 PM |
|
The Bitcoin they have, it is not the Bitstamp's asset. The funds belongs to their clients.
There will be massive withdrawals. You have to be crazy to keep your funds in Bistamp at least for a while(2-3 months). Why? I am pretty sure they did not fix any bug. They just changed the servers. Smiley
It is impossible(and this can be certified by any programmer) to identify a hack in a financial platform in 3-4 days, to fix it and then to setup a new server and so on..
|
|
|
|
Pustul
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 10, 2015, 04:21:33 PM |
|
The Bitcoin they have, it is not the Bitstamp's asset. The funds belongs to their clients.
There will be massive withdrawals. You have to be crazy to keep your funds in Bistamp at least for a while(2-3 months). Why? I am pretty sure they did not fix any bug. They just changed the servers. Smiley
It is impossible(and this can be certified by any programmer) to identify a hack in a financial platform in 3-4 days, to fix it and then to setup a new server and so on..
You don't know how they covered the loss. And for the hack it really depends on what happened, it may be easy to identify... Again we need more information. One thing is certain, I've never seen a exchange handling a hack that well.
|
|
|
|
Coiner.de
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 10, 2015, 04:26:11 PM |
|
They just changed the servers.
You are wrong. They changed their hot wallet to use multi-sig. Everyone withdrawing can see this and it has already been reported multiple times.
|
|
|
|
|
mayax (OP)
Legendary
Offline
Activity: 1470
Merit: 1004
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 10, 2015, 04:44:37 PM |
|
They just changed the servers.
You are wrong. They changed their hot wallet to use multi-sig. Everyone withdrawing can see this and it has already been reported multiple times. The bug was/IS in their platform. It doesn't matter how many signatures they are using. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
|
|
|
|
picolo
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 10, 2015, 06:03:38 PM |
|
The Bitcoin they have, it is not the Bitstamp's asset. The funds belongs to their clients.
There will be massive withdrawals. You have to be crazy to keep your funds in Bistamp at least for a while(2-3 months). Why? I am pretty sure they did not fix any bug. They just changed the servers. Smiley
It is impossible(and this can be certified by any programmer) to identify a hack in a financial platform in 3-4 days, to fix it and then to setup a new server and so on..
You don't know how they covered the loss. And for the hack it really depends on what happened, it may be easy to identify... Again we need more information. One thing is certain, I've never seen a exchange handling a hack that well. If what they said is true and there is nothing more hidden, they handled it very well and bitstamp seems very safe. But it's a new company and the fact they lost 19 000 BTC is not a good news about their systems and security. There must be a way to almost guarantee you won't loose 19 000 BTC. I would like it if they would sign a cold wallet and put the address on bitstamp.net saying it's the customers funds.
|
|
|
|
colour
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 10, 2015, 06:16:04 PM Last edit: January 10, 2015, 06:31:53 PM by colour |
|
I would like it if they would sign a cold wallet and put the address on bitstamp.net saying it's the customers funds.
Well, it's pretty much guaranteed at this point that they still control this cold wallet address. But it seems their hot wallet has run dry and is not getting refilled in a timely manner, which bothers me. Edit: Hot wallet getting refilled with 5000 coins just now.
|
|
|
|
cryptoanarchist
Legendary
Offline
Activity: 1120
Merit: 1003
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 10, 2015, 10:02:09 PM |
|
I posted on here almost a year ago that bitstamp was just a government honeypot and that it was only a matter a time before they ran off with people's coins. Like 99% of the time - I was right. ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif)
|
I'm grumpy!!
|
|
|
seriouscoin
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 11, 2015, 01:18:48 AM |
|
They just changed the servers.
You are wrong. They changed their hot wallet to use multi-sig. Everyone withdrawing can see this and it has already been reported multiple times. The bug was/IS in their platform. It doesn't matter how many signatures they are using. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Wow , you're dumb as a rock arent you? Always assume your platform is compromised. What matters is what data can be stolen....., meaningless data? Mutisig wallet would allow them using a third device to sign tx.
|
|
|
|
mayax (OP)
Legendary
Offline
Activity: 1470
Merit: 1004
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 11, 2015, 01:37:40 AM |
|
They just changed the servers.
You are wrong. They changed their hot wallet to use multi-sig. Everyone withdrawing can see this and it has already been reported multiple times. The bug was/IS in their platform. It doesn't matter how many signatures they are using. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Wow , you're dumb as a rock arent you? Always assume your platform is compromised. What matters is what data can be stolen....., meaningless data? Mutisig wallet would allow them using a third device to sign tx. You are smart, I admit that. Please do not read further. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) If you think that the users details(passports, user accounts, utility bills, addresses, bank accounts) are meaningless data, it ok. You are the smart one and you know better. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
|
|
|
|
|