Nautica
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March 09, 2015, 05:29:15 PM |
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Am I the only one thinking that it's OK for Bter to have been hacked in terms of do you want to keep your funds on there and keep trading. I'm guessing security will be bomb proof after this. There's nobody more paranoid than somebody who's already been stolen from. I trust paranoid people.
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Even in the event that an attacker gains more than 50% of the network's
computational power, only transactions sent by the attacker could be
reversed or double-spent. The network would not be destroyed.
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Kn_os
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March 09, 2015, 05:31:33 PM |
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Am I the only one thinking that it's OK for Bter to have been hacked in terms of do you want to keep your funds on there and keep trading. I'm guessing security will be bomb proof after this. There's nobody more paranoid than somebody who's already been stolen from. I trust paranoid people.
Would be right if it wouldn't be 2th hack. |
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shulio
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March 09, 2015, 05:37:25 PM |
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It's a reasonable assumption that they are holding back withdrawals until they're open for trading again. The few asset withdrawals they enabled must have shown them they would just hemorrhage funds, which would promptly go to Polo and elsewhere. 60% of UNITY has already been withdrawn, for example.
or another thoughts of this, they got no funds to refund all their customer, so that they need to open up trading for the moment, to get some extra funds, which i wondered if there will be people that trust them anymore considering volume of stamp, dropped after the hacked, even after they refunded all the lost |
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j.jaymes
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March 09, 2015, 05:42:33 PM |
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Im hoping for all users that they come back and stay true to there word. But yes, not a good practice to leave coins on exchanges because of things like hacks and jacks.
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dsly
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March 09, 2015, 05:44:20 PM |
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Am I the only one thinking that it's OK for Bter to have been hacked in terms of do you want to keep your funds on there and keep trading. I'm guessing security will be bomb proof after this. There's nobody more paranoid than somebody who's already been stolen from. I trust paranoid people.
It actually there 2nd hack. First was NXT. And evn if they offer the safest cold wallet, I would still never trust them with a penny. They still haven't explained how they got hacked in the first place |
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tee-rex
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March 09, 2015, 05:45:15 PM |
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It's a reasonable assumption that they are holding back withdrawals until they're open for trading again. The few asset withdrawals they enabled must have shown them they would just hemorrhage funds, which would promptly go to Polo and elsewhere. 60% of UNITY has already been withdrawn, for example.
No one save for bter can forbid you to withdraw the coins once they restart the exchange. And if they really open it in 48 hours or so, this won't be a big deal that they didn't allow to withdraw the altcoins. Remember, they had 7k bitcoins stolen, and they had (or still have) to settle this issue somehow. |
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sumantso
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March 09, 2015, 05:53:00 PM |
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'safest cold wallet'. Hmm, wonder if they even understand what a cold wallet means from the last hack.
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abyrnes81
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March 09, 2015, 05:58:44 PM |
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'safest cold wallet'. Hmm, wonder if they even understand what a cold wallet means from the last hack.
I hope they have learned the lesson and now know how to create a safe cold wallet, however will you use again bter ? |
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tee-rex
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March 09, 2015, 05:59:54 PM |
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'safest cold wallet'. Hmm, wonder if they even understand what a cold wallet means from the last hack.
I hope they have learned the lesson and now know how to create a safe cold wallet,
What cold wallet is or is not, what it may or may not be, has been discussed earlier in this thread. A few times already and in great detail, so no need to raise this issue again. Thank you. |
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abyrnes81
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March 09, 2015, 06:06:51 PM
Last edit: March 09, 2015, 09:12:06 PM by abyrnes81 |
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'safest cold wallet'. Hmm, wonder if they even understand what a cold wallet means from the last hack.
I hope they have learned the lesson and now know how to create a safe cold wallet,
What cold wallet is or is not, what it may or may not be, has been discussed earlier in this thread. A few times already and in great detail, so no need to raise this issue again. Thank you. I know what are you saying and I don't raise again the old discussion , I have told only my personal opinion about this situation. Thank you. |
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Kn_os
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March 09, 2015, 09:03:23 PM |
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It's a reasonable assumption that they are holding back withdrawals until they're open for trading again. The few asset withdrawals they enabled must have shown them they would just hemorrhage funds, which would promptly go to Polo and elsewhere. 60% of UNITY has already been withdrawn, for example.
No one save for bter can forbid you to withdraw the coins once they restart the exchange. And if they really open it in 48 hours or so, this won't be a big deal that they didn't allow to withdraw the altcoins. Remember, they had 7k bitcoins stolen, and they had (or still have) to settle this issue somehow. I am strongly dissagree that 3 weeks of holding user's alt coins is not big deal. I am losing money each day while they hold it. And i am strongy dissagree to continue pay my money to resolve bter's problems. You not agree with me but i still think that exept obvious scam explanation there are only one reason why they didn't open withdraw alts for 3 weeks is fact that they fear to let people run away from exchange with alt coins, before they restart trade, they proly think if we will withdraw coins we will never return them. But i lose money due of such exchange behaviour and it kill any wish to deal with such exchange in future. |
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tee-rex
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March 09, 2015, 09:18:40 PM |
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It's a reasonable assumption that they are holding back withdrawals until they're open for trading again. The few asset withdrawals they enabled must have shown them they would just hemorrhage funds, which would promptly go to Polo and elsewhere. 60% of UNITY has already been withdrawn, for example.
No one save for bter can forbid you to withdraw the coins once they restart the exchange. And if they really open it in 48 hours or so, this won't be a big deal that they didn't allow to withdraw the altcoins. Remember, they had 7k bitcoins stolen, and they had (or still have) to settle this issue somehow. I am strongly dissagree that 3 weeks of holding user's alt coins is not big deal. I am losing money each day while they hold it. And i am strongy dissagree to continue pay my money to resolve bter's problems. You not agree with me but i still think that exept obvious scam explanation there are only one reason why they didn't open withdraw alts for 3 weeks is fact that they fear to let people run away from exchange with alt coins, before they restart trade, they proly think if we will withdraw coins we will never return them. But i lose money due of such exchange behaviour and it kill any wish to deal with such exchange in future. This is understandable, but think about people who were in bitcoins at bter when it had got trashed. You suggest that bter should have allowed withdrawal of altcoins, but in this case, as you justly noted, 99% of bter users would withdraw their funds (me included), and the chances of paying off the btc debt to those who lost bitcoins there would have been ephemeral. Big deal I talked about referred to 48 hours till bter was going to open the exchange. |
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Kn_os
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March 10, 2015, 04:33:46 AM |
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Oh, but there are no way Bter will refund 7100 btc with fee, so it doasn't matter if people will trade there or not.. I already forgot about my btc left there...
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finnile
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March 10, 2015, 08:33:38 AM |
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Oh, but there are no way Bter will refund 7100 btc with fee, so it doasn't matter if people will trade there or not.. I already forgot about my btc left there...
' For now, they have only promised to pay back, if they can recover by running the site . But ofcourse that will never happen. |
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Kn_os
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March 10, 2015, 08:51:08 AM |
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Oh, but there are no way Bter will refund 7100 btc with fee, so it doasn't matter if people will trade there or not.. I already forgot about my btc left there...
' For now, they have only promised to pay back, if they can recover by running the site . But ofcourse that will never happen. For refund 7100 in 2 year they need 10 btc profite from fee each day.. 5000k btc per day if keep in mind they need to leave something to self 10000 btc per day volume. Bitstamp has such volume.. not Bter for sure... |
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mishax1
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March 10, 2015, 08:51:23 AM |
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Oh, but there are no way Bter will refund 7100 btc with fee, so it doasn't matter if people will trade there or not.. I already forgot about my btc left there...
' For now, they have only promised to pay back, if they can recover by running the site . But ofcourse that will never happen. By the time they start paying back the bitcoin will be over 1000$ and that would be impossible, unless they are going to pull the GOX trick which will blow up in their faces. |
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Amph
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March 10, 2015, 08:58:34 AM |
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so they can't recover those 7200, using their fee? maybe dismiss some employers
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mishax1
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March 10, 2015, 09:03:56 AM |
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so they can't recover those 7200, using their fee? maybe dismiss some employers
Maybe in a few years, yeah. But by that time many of you will forget they lost some funds over there.. |
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tersagun
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March 10, 2015, 09:07:18 AM |
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I'm also wondering how much coins got lost in exchanges.
People losing interest in crypto, losing passwords,forgetting how much coins they have, dying etc etc.
I would assume that this kind of "income" might be one of the major incomes of an exchange.
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Kn_os
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March 10, 2015, 09:09:51 AM |
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Oh, but there are no way Bter will refund 7100 btc with fee, so it doasn't matter if people will trade there or not.. I already forgot about my btc left there...
' For now, they have only promised to pay back, if they can recover by running the site . But ofcourse that will never happen. By the time they start paying back the bitcoin will be over 1000$ and that would be impossible, unless they are going to pull the GOX trick which will blow up in their faces. Or it may crash in 2-3 year to 1 dollar and they will refund all without problem  |
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