Nagle (OP)
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Activity: 1204
Merit: 1000
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February 18, 2015, 06:58:13 PM |
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So far this month: Who's next? (Kipcoin just shut down, but they were clearly a Ponzi; not even going to list them.) |
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DannyHamilton
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Activity: 3388
Merit: 4613
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February 18, 2015, 07:02:14 PM |
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So far this month: Who's next? Just so that I can get a fair comparison, please now list every theft and scam that has happened with U.S. dollars in the past month. Is it accurate to say that "take the money and run" is "the bitcoin way"? Wouldn't it be more accurate to say that take the money and run is the criminal way, and that criminals will take any thing of value that they can get their hands on regardless of whether it is U.S. dollars, bitcoins, cars, artwork, jewelry, or children? |
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oblivi
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February 18, 2015, 07:04:35 PM |
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The Bitcoin's way is be your own bank on a fair system
The fiat's way is get your money bailed out of banks at random and elites creating random money whenever.
If you put your coins in an exchange they are not your coins anymore, period.
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Madness
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February 18, 2015, 07:05:38 PM |
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What's happening is not that Bitcoin is going down or Bitcoin is dying . It's simply that 2015 is not the Year of Bitcoin as some people predicted , Let's give it two years as Andreas said and let's see  Still .. wondering how the price is still stable with all those exchangers going down one after other . kinda weird if you ask me ~ Madness |
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gargantuar
Member
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Activity: 71
Merit: 10
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February 18, 2015, 07:07:36 PM |
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So far this month: Who's next? Just so that I can get a fair comparison, please now list every theft and scam that has happened with U.S. dollars in the past month. Is it accurate to say that "take the money and run" is "the bitcoin way"? Wouldn't it be more accurate to say that take the money and run is the criminal way, and that criminals will take any thing of value that they can get their hands on regardless of whether it is U.S. dollars, bitcoins, cars, artwork, jewelry, or children? Once again, dannyhamilton nails it. Nagle's post is overly emotional as well as intellectually dishonest. He even lists something that he says he will not list. So strange for someone with so many posts... |
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ChuckBuck
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February 18, 2015, 07:16:33 PM |
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I'm sorry, but with the amount of thefts and hacks this month alone, only regulation and compliance is the real way: https://blog.gemini.com/welcome-to-gemini/Basically we tried to it do it our way in our playground, but there's no one in charge to put anyone in timeout for the bad kid that continues to give all the good kids titty twisters and indian rope burns. It's inevitable and indisputable, gotta regulate, yo! Not sure how Decentralized Exchanges like Coinffeine or BitSquare will turn out, but doesn't look like they have the resources to compete with the scope and scale Gemini is going for. |
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fcmatt
Legendary
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Activity: 2072
Merit: 1001
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February 18, 2015, 07:28:46 PM |
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Percentage wise bitcoin websites have a very high failure/theft/loss rate. It is a concern. What is the answer? I guess the creme rises to the top.
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pedrog
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Activity: 2786
Merit: 1031
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February 18, 2015, 09:09:18 PM |
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Not all of those ran away with the money.
But with the "trend" we've seen over the years it seems way to easy for people to do that and get away with it...
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kendog77
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February 18, 2015, 09:19:52 PM |
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I think a lot of these "hacks" were inside jobs where the owners or employees just took the money and ran. How can a cold wallet get "hacked"? Really? I don't believe it for a second. Anyway, all of these hacks combined pale in comparison to this 1 billion dollar fiat hack: http://www.usatoday.com/story/tech/2015/02/15/hackers-steal-billion-in-banking-breach/23464913/At least a lot of these really poorly run businesses will cease to exist. Bitcoin companies that don't take security seriously and adhere to best practices will not last long in this environment. |
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mayax
Legendary
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Activity: 1456
Merit: 1004
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February 18, 2015, 09:21:25 PM |
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I'm sorry, but with the amount of thefts and hacks this month alone, only regulation and compliance is the real way: https://blog.gemini.com/welcome-to-gemini/Basically we tried to it do it our way in our playground, but there's no one in charge to put anyone in timeout for the bad kid that continues to give all the good kids titty twisters and indian rope burns. It's inevitable and indisputable, gotta regulate, yo! Not sure how Decentralized Exchanges like Coinffeine or BitSquare will turn out, but doesn't look like they have the resources to compete with the scope and scale Gemini is going for. Bitcoin is all about NON regulation, no GOV did you forget?  |
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ChuckBuck
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February 18, 2015, 09:29:08 PM |
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I'm sorry, but with the amount of thefts and hacks this month alone, only regulation and compliance is the real way: https://blog.gemini.com/welcome-to-gemini/Basically we tried to it do it our way in our playground, but there's no one in charge to put anyone in timeout for the bad kid that continues to give all the good kids titty twisters and indian rope burns. It's inevitable and indisputable, gotta regulate, yo! Not sure how Decentralized Exchanges like Coinffeine or BitSquare will turn out, but doesn't look like they have the resources to compete with the scope and scale Gemini is going for. Bitcoin is all about NON regulation, no GOV did you forget? Things change. Money is about government and banks and fiat, did you forget? (Takes a look at Greece, hmm maybe not) |
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mayax
Legendary
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Activity: 1456
Merit: 1004
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February 18, 2015, 09:29:50 PM |
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I think a lot of these "hacks" were inside jobs where the owners or employees just took the money and ran. How can a cold wallet get "hacked"? Really? I don't believe it for a second. Anyway, all of these hacks combined pale in comparison to this 1 billion dollar fiat hack: http://www.usatoday.com/story/tech/2015/02/15/hackers-steal-billion-in-banking-breach/23464913/At least a lot of these really poorly run businesses will cease to exist. Bitcoin companies that don't take security seriously and adhere to best practices will not last long in this environment. the security costs a LOT. Imagine that a bank can spend tens of millions and they can be hacked. How can a small-medium exchange business to hire very good programmers? impossible. even you take the security very serious, they don't have the resources to do it. a small-medium exchange is earning around of 5-7K per month, maybe less. a very good programmer cost around 90-100 USD/hour. a good server administrator is the same. the initial website costs a lot too. |
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pawel7777
Legendary
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Activity: 2436
Merit: 1559
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February 18, 2015, 09:30:32 PM |
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So far this month: Who's next? (Kipcoin just shut down, but they were clearly a Ponzi; not even going to list them.) You should remove Mycoin, that info is plain bullshit, not to mention they did scam mostly fiat investors who didn't have much clue of what Bitcoin is. They used BTC as a con to justify ridiculously high ROI they promised. That $387m is based on the exaggerated number of investors provided by MyCoin themselves to attract new victims. |
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mayax
Legendary
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Activity: 1456
Merit: 1004
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February 18, 2015, 09:31:18 PM |
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I'm sorry, but with the amount of thefts and hacks this month alone, only regulation and compliance is the real way: https://blog.gemini.com/welcome-to-gemini/Basically we tried to it do it our way in our playground, but there's no one in charge to put anyone in timeout for the bad kid that continues to give all the good kids titty twisters and indian rope burns. It's inevitable and indisputable, gotta regulate, yo! Not sure how Decentralized Exchanges like Coinffeine or BitSquare will turn out, but doesn't look like they have the resources to compete with the scope and scale Gemini is going for. Bitcoin is all about NON regulation, no GOV did you forget? Things change. Money is about government and banks and fiat, did you forget? (Takes a look at Greece, hmm maybe not) I know that very well but then Bitcoin is useless. Why would somone use Bitcoin when we have normal payment processors already? Just to wait for an hour a transaction confirmation? don't think so |
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ChuckBuck
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February 18, 2015, 09:34:15 PM |
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I'm sorry, but with the amount of thefts and hacks this month alone, only regulation and compliance is the real way: https://blog.gemini.com/welcome-to-gemini/Basically we tried to it do it our way in our playground, but there's no one in charge to put anyone in timeout for the bad kid that continues to give all the good kids titty twisters and indian rope burns. It's inevitable and indisputable, gotta regulate, yo! Not sure how Decentralized Exchanges like Coinffeine or BitSquare will turn out, but doesn't look like they have the resources to compete with the scope and scale Gemini is going for. Bitcoin is all about NON regulation, no GOV did you forget? Things change. Money is about government and banks and fiat, did you forget? (Takes a look at Greece, hmm maybe not) I know that very well but then Bitcoin is useless. Why would somone use Bitcoin when we have normal payment processors already? Just to wait for an hour a transaction confirmation? don't think so Actually it's not, and I'm not talking about regulating Bitcoin, I'm talking about regulating Bitcoin exchanges. It's why I mentioned Coinffeine(decentralized), BitSquare(decentralized), and Gemini(fully regulated) in the same post. Reading comprehension, my friend. |
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GonnaGrinditout
Member
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Activity: 94
Merit: 11
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February 18, 2015, 09:37:22 PM |
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So far this month: Who's next? (Kipcoin just shut down, but they were clearly a Ponzi; not even going to list them.) thefts and hacks are done by humans, Bitcoin is not at fault! |
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kendog77
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February 18, 2015, 09:41:40 PM |
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I think a lot of these "hacks" were inside jobs where the owners or employees just took the money and ran. How can a cold wallet get "hacked"? Really? I don't believe it for a second. Anyway, all of these hacks combined pale in comparison to this 1 billion dollar fiat hack: http://www.usatoday.com/story/tech/2015/02/15/hackers-steal-billion-in-banking-breach/23464913/At least a lot of these really poorly run businesses will cease to exist. Bitcoin companies that don't take security seriously and adhere to best practices will not last long in this environment. the security costs a LOT. Imagine that a bank can spend tens of millions and they can be hacked. How can a small-medium exchange business to hire very good programmers? impossible. even you take the security very serious, they don't have the resources to do it. a small-medium exchange is earning around of 5-7K per month, maybe less. a very good programmer cost around 90-100 USD/hour. a good server administrator is the same. the initial website costs a lot too. Agreed, but all that means is that a lot of these fly by night, undercapitalized exchanges are in over their head and have no business trying to run an exchange. Handling other peoples money is serious business and should not be done by amateurs. I can't wait until amateur hour is over and we get some real exchanges that actually know what they are doing. |
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unamis76
Legendary
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Activity: 1512
Merit: 1005
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February 18, 2015, 09:46:13 PM |
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Actually nowadays this is not "the Bitcoin way", it's really "the people's way"
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