Bitstamp will easily recover from this hack

[freedomno1]

If bitcoin price goes down, they will easily recover the loss in a couple of months, however if the price keeps going up, then they would need to operate in fractional reserve mode for a very long time

Assuming they have a large fiat amount stashed somewhere to buy cheap coins and people are willing to sell really low?

Maybe....but unlikely.

I still ask why they can't verify how much bitcoin's they have in their possession.

The signed message should not take more than a few minutes to generate for the wallet/addresses they own.

No excuse.

Worst case is that the hack was far larger than they thought or they are busy preparing to run away like Mtgox did.
Another speculation is that the venture capital left the table with the money and now they are in a liquidity crisis
Enter shutdown since they don't want to operate for free even though its their fault for not having sufficient security precautions.

[1714170684]

1714170684

[1714170684]

1714170684

[mayax]

If bitcoin price goes down, they will easily recover the loss in a couple of months, however if the price keeps going up, then they would need to operate in fractional reserve mode for a very long time

Assuming they have a large fiat amount stashed somewhere to buy cheap coins and people are willing to sell really low?

Maybe....but unlikely.

I still ask why they can't verify how much bitcoin's they have in their possession.

The signed message should not take more than a few minutes to generate for the wallet/addresses they own.

No excuse.

Worst case is that the hack was far larger than they thought or they are busy preparing to run away like Mtgox did.
Another speculation is that the venture capital left the table with the money and now they are in a liquidity crisis
Enter shutdown since they don't want to operate for free even though its their fault for not having sufficient security precautions.

they had around of 40 MIL USD in their bank account. if the " the venture capital " left the table, they did it with their 10 MIL invested and maybe a little profit.

the money from their bank is all it counts. call their bank, ask your money bank.
you won't be able to take them from an empty account.

[donk4u]

If bitcoin price goes down, they will easily recover the loss in a couple of months, however if the price keeps going up, then they would need to operate in fractional reserve mode for a very long time

Assuming they have a large fiat amount stashed somewhere to buy cheap coins and people are willing to sell really low?

Maybe....but unlikely.

I still ask why they can't verify how much bitcoin's they have in their possession.

The signed message should not take more than a few minutes to generate for the wallet/addresses they own.

No excuse.

Worst case is that the hack was far larger than they thought or they are busy preparing to run away like Mtgox did.
Another speculation is that the venture capital left the table with the money and now they are in a liquidity crisis
Enter shutdown since they don't want to operate for free even though its their fault for not having sufficient security precautions.

IN before hack larger then they thought and running away like gox after making statement that they will forge away the bad memories of gox fucking clowns.  Probably where bernie madoffing all along and caught up to them . THe delay with no proof to substantiate any claims they are making is ominous. THey could well be insolvent and the hack just a convenient excuse. Hack was money sent into their offshore accounts .

Time for the ole mallibillity excsue

[freedomno1]

If bitcoin price goes down, they will easily recover the loss in a couple of months, however if the price keeps going up, then they would need to operate in fractional reserve mode for a very long time

Assuming they have a large fiat amount stashed somewhere to buy cheap coins and people are willing to sell really low?

Maybe....but unlikely.

I still ask why they can't verify how much bitcoin's they have in their possession.

The signed message should not take more than a few minutes to generate for the wallet/addresses they own.

No excuse.

Worst case is that the hack was far larger than they thought or they are busy preparing to run away like Mtgox did.
Another speculation is that the venture capital left the table with the money and now they are in a liquidity crisis
Enter shutdown since they don't want to operate for free even though its their fault for not having sufficient security precautions.

IN before hack larger then they thought and running away like gox after making statement that they will forge away the bad memories of gox fucking clowns.  Probably where bernie madoffing all along and caught up to them . THe delay with no proof to substantiate any claims they are making is ominous. THey could well be insolvent and the hack just a convenient excuse. Hack was money sent into their offshore accounts .

Time for the ole mallibillity excsue

Well unlike the Gox case this time around there is no dedicated British man in front of Bitstamp and their headquarters demanding to contact the CEO of the company to acquire their bitcoins

That was a pair of dudes who would not go down without putting up a good fight.

[crazy_rabbit]

While the lack of a new ETA is disturbing to say the least, I am happy that they are now in the USA and not hiding out in Tokyo....

[zby]

While ultimately I think they will recover just fine, Panterra's boss has made it known that he's distancing himself to BitStamp and I doubt Stamp will find it easy to get any more VC money. They obviously don't need it at this point especially if they come through and cover their customers' losses, if in fact they were actually losses and not a company loss.

He is still listed as a director there.

[eztezt]

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[Nagle]

The site claims to be coming back up. Current message:

"Bitstamp is open for business!
Thank you for your patience during our temporary disruption of services. We are very happy to officially be back up to serve you. Trading will resume at 21:00 UTC January 9th.
Click here for a message from our CEO."

Login is again available.  Someone please try a withdrawal and see if that works. Thanks.

[ChuckBuck]

The site claims to be coming back up. Current message:

"Bitstamp is open for business!
Thank you for your patience during our temporary disruption of services. We are very happy to officially be back up to serve you. Trading will resume at 21:00 UTC January 9th.
Click here for a message from our CEO."

Login is again available.  Someone please try a withdrawal and see if that works. Thanks.

Indeed.  Good news no matter if price goes up or down.

4PM Eastern is estimated re-launch time for Bitstamp.

[gameboyadvance]

OP was right, seems to be going smoothly now. I hope

[CoinCidental]

OP was right, seems to be going smoothly now. I hope

seems like they can continue ,the only question is whether thyre doing it in fractional reserve style or they
have an excess of coins of cover everyone if necessary ..........

[Poppy]

so is bitstamp going to go down like mt.gox?

[freedomno1]

OP was right, seems to be going smoothly now. I hope

Well its operational for now I'm keeping a watch on it though for a bit, I appreciate this sentiment but zero fee trading on gox led to withdraw issues later.

* As a note of thanks to our loyal customers, all transactions conducted on Bitstamp through the end of the North American Bitcoin Conference -- January 17th (at 11:59pm UTC) -- will be commission-free.

[Quinn]

Looks like I`ll be buying on coinbase until bitstamp gets recovered, and shit taken care of..

[carlosiness]

Looks like I`ll be buying on coinbase until bitstamp gets recovered, and shit taken care of..

check bitstamp again, seems it's working without any interrupions

[mayax]

Looks like I`ll be buying on coinbase until bitstamp gets recovered, and shit taken care of..

Coinbase is related with Bistamp.

Bistamp is processing the Coinbase's transactions

[mrhelpful]

Looks like I`ll be buying on coinbase until bitstamp gets recovered, and shit taken care of..

Coinbase is related with Bistamp.

Bistamp is processing the Coinbase's transactions

I always thought that coinbase is big enough to have their own large pool of bitcoin, not to rely on an exchange.

I guess I`m wrong lol. As for the bitstamp comments, I personally think even though they been hacked, they should be able to come back from this. This is a bit different then the whole mt.gox nonsense back in 2013.

When they were doing the so called phantom deposits, and manipulating the price.

[mayax]

Looks like I`ll be buying on coinbase until bitstamp gets recovered, and shit taken care of..

Coinbase is related with Bistamp.

Bistamp is processing the Coinbase's transactions

I always thought that coinbase is big enough to have their own large pool of bitcoin, not to rely on an exchange.

I guess I`m wrong lol. As for the bitstamp comments, I personally think even though they been hacked, they should be able to come back from this. This is a bit different then the whole mt.gox nonsense back in 2013.

When they were doing the so called phantom deposits, and manipulating the price.

The price is manipulated anyway. The big exchangers are like a gang.
Regarding to Bistamp...they didn't have so much Bitcoin as Mt Gox.

[ChuckBuck]

Glad to see the resiliency of Bitcoin, amongst this potentially devastating wallet theft done at Bitstamp.

Just goes to show you the maturity and growing pains BTC is going through.  A year ago, "Bitcoin died" when Gox got hacked.  A year later, "Bitcoin" only had a minor setup, when the 2nd biggest exchange got hacked.

This is only good news for this burgeoning cryptocurrency, and shows that overall, Bitcoin is going in the right path.