Bitcoin Forum
December 12, 2017, 04:24:23 PM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: « 1 [2] 3 »  All
  Print  
Author Topic: Hacks and thefts are mostly a good sign  (Read 4352 times)
Vod
Legendary
*
Offline Offline

Activity: 2226


Licking my boob since 1970


View Profile WWW
July 31, 2012, 03:58:39 PM
 #21

At times I wish I was clever and bold enough to pull of a heist. But then my mother's voice keeps going off in my head. "You are better than that!"

I dunno... $200,000USD (the current amount still taken by ZT) can buy a LOT of therapy.   Grin

I'm into creating universes, smiting people, writing holy books and listening to Prayer Messages (PMs).
I will ignore your Prayer Messages unless you donate to 1CDyx8AUTiYXS1ThcBU3vy4SJWQq6pdFMH
BitcoinTalk Public Information Project - Building Database!
1513095863
Hero Member
*
Offline Offline

Posts: 1513095863

View Profile Personal Message (Offline)

Ignore
1513095863
Reply with quote  #2

1513095863
Report to moderator
1513095863
Hero Member
*
Offline Offline

Posts: 1513095863

View Profile Personal Message (Offline)

Ignore
1513095863
Reply with quote  #2

1513095863
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1513095863
Hero Member
*
Offline Offline

Posts: 1513095863

View Profile Personal Message (Offline)

Ignore
1513095863
Reply with quote  #2

1513095863
Report to moderator
1513095863
Hero Member
*
Offline Offline

Posts: 1513095863

View Profile Personal Message (Offline)

Ignore
1513095863
Reply with quote  #2

1513095863
Report to moderator
1513095863
Hero Member
*
Offline Offline

Posts: 1513095863

View Profile Personal Message (Offline)

Ignore
1513095863
Reply with quote  #2

1513095863
Report to moderator
niko
Hero Member
*****
Offline Offline

Activity: 742


There is more to Bitcoin than bitcoins.


View Profile
July 31, 2012, 04:46:59 PM
 #22

I was hoping to discuss specific points I made in OP. Electricmucus and lethos can do it, can't you? If you feel like discussing psychotherapy and chain saws, kindly go to off-topic per forum rules.

They're there, in their room.
Your mining rig is on fire, yet you're very calm.
Transisto
Donator
Legendary
*
Offline Offline

Activity: 1731



View Profile WWW
July 31, 2012, 06:08:15 PM
 #23

We need a Bitcoin related security sub.

plz add your voice
https://bitcointalk.org/index.php?topic=96089.0
niko
Hero Member
*****
Offline Offline

Activity: 742


There is more to Bitcoin than bitcoins.


View Profile
July 31, 2012, 07:03:44 PM
 #24

We need a Bitcoin related security sub.

plz add your voice
https://bitcointalk.org/index.php?topic=96089.0

I agree, but my intention here was not to discuss security practices for exchanges. I was trying to discuss the fact that hackers steal coins, and what it tells us about Bitcoin.

They're there, in their room.
Your mining rig is on fire, yet you're very calm.
CoinDiver
Hero Member
*****
Offline Offline

Activity: 778


View Profile
July 31, 2012, 07:23:26 PM
 #25

Hackers will hack. We all need to get over it. We are dealing with a currency built to operate outside the system, then complain that no one have brought in "the man". Hacks will continue. Someone will find they are particularly good at investigating this sort of crime outside the system, or find they are particularly suited to help sites and services lock down their borders, and they will sell their services at a price. People will continue to not be happy. Hacks will continue. Eventually, someone "the community" trusts will decide to insure financial sites and services, at a price. They will require audits by security professionals, who will do so at a price.

These hacks are not good or bad, they are reality. It does indicate there is value in BTC... but so does my BTC ticker. More importantly it indicated a shortcoming in the market. One that will be filled. More hacks will only force the market to provide the services it requires sooner.

http://mises.org/daily/3229
BTC:1PEyEKyVZgUvV4moXvCD5rQN21QETGPpLc
Transisto
Donator
Legendary
*
Offline Offline

Activity: 1731



View Profile WWW
July 31, 2012, 09:22:43 PM
 #26

We need a Bitcoin related security sub.

plz add your voice
https://bitcointalk.org/index.php?topic=96089.0

I agree, but my intention here was not to discuss security practices for exchanges. I was trying to discuss the fact that hackers steal coins, and what it tells us about Bitcoin.
People steal copper from live power line.  I don't think BTC hacks are a good talking point to prove value.

BTC are being brought at ~10$ that alone is obvious enough to see there is a value.

The fact that most big value hack are so unsophisticated make me believe we ain't seen nothing yet.

There is a big margin between exchange security and personal wallet security.   Try convincing anyone not tech savvy to invest into BTC. They most-all see the risk as too much.  These pple fear getting virus out of nowhere.  

 One word : "multisig"

commonancestor
Jr. Member
*
Offline Offline

Activity: 58


View Profile
July 31, 2012, 10:07:41 PM
 #27

One word : "multisig"

I don't understand why is multisig such a breakthrough, it is kind of multiplying something that already exists, isn't it? Everyday you will be unlocking five gates instead of one, and if a hacker could hack one, so he could hack five. Maybe there are some other uses of it but I can't see the security effect.
niko
Hero Member
*****
Offline Offline

Activity: 742


There is more to Bitcoin than bitcoins.


View Profile
July 31, 2012, 10:34:33 PM
 #28

One word : "multisig"

I don't understand why is multisig such a breakthrough, it is kind of multiplying something that already exists, isn't it? Everyday you will be unlocking five gates instead of one, and if a hacker could hack one, so he could hack five. Maybe there are some other uses of it but I can't see the security effect.

No. You would open one gate, and I would open another. Also, not every day but only when appropriate.

They're there, in their room.
Your mining rig is on fire, yet you're very calm.
commonancestor
Jr. Member
*
Offline Offline

Activity: 58


View Profile
July 31, 2012, 11:42:27 PM
 #29

No. You would open one gate, and I would open another. Also, not every day but only when appropriate.

Sure, but it is a specialty for people who prefer some well controlled storage, it is like creating a big safe for banks. While some people will use it, the rest are not going to distribute keys to family to unlock them funds on exchanges ...
notme
Legendary
*
Offline Offline

Activity: 1848


View Profile
July 31, 2012, 11:43:27 PM
 #30

One word : "multisig"

I don't understand why is multisig such a breakthrough, it is kind of multiplying something that already exists, isn't it? Everyday you will be unlocking five gates instead of one, and if a hacker could hack one, so he could hack five. Maybe there are some other uses of it but I can't see the security effect.

No. You would open one gate, and I would open another. Also, not every day but only when appropriate.

Or open one gate on your desktop, then it gets sent to your phone which opens the other gate.  Now the hacker has to hack two devices with a completely different set of software.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
12jh3odyAAaR2XedPKZNCR4X4sebuotQzN
commonancestor
Jr. Member
*
Offline Offline

Activity: 58


View Profile
August 01, 2012, 12:03:08 AM
 #31

Or open one gate on your desktop, then it gets sent to your phone which opens the other gate.  Now the hacker has to hack two devices with a completely different set of software.

Perhaps no. Once he hacks the desktop he doesn't have to hack the phone but he just sends the transaction to the phone. Well, this assumes the phone signs it automatically.

If also the phone has to be operated by the user, then it means one more gate to open everyday. Okay, maybe this sounds more from a real life and the tradeoff between security and usability is not that bad.
notme
Legendary
*
Offline Offline

Activity: 1848


View Profile
August 01, 2012, 12:08:00 AM
 #32

Or open one gate on your desktop, then it gets sent to your phone which opens the other gate.  Now the hacker has to hack two devices with a completely different set of software.

Perhaps no. Once he hacks the desktop he doesn't have to hack the phone but he just sends the transaction to the phone. Well, this assumes the phone signs it automatically.

If also the phone has to be operated also by the user, then it means one more gate to open everyday. Okay, maybe this sounds more from a real life and the tradeoff between security and usability is not that bad.

When this setup is available I will never let my phone sign automatically and I will gladly check the details and touch confirm.  It's more effort, but barely.  The support is there in the client, just no UI yet.  Perhaps when I get my new android tablet in a few weeks I will set it up to be my confirmation device.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
12jh3odyAAaR2XedPKZNCR4X4sebuotQzN
Factory
Sr. Member
****
Offline Offline

Activity: 259


View Profile
August 01, 2012, 12:56:48 AM
 #33

I understand the point OP is trying to make, but I believe the title of this thread is incorrect.

Hacks and thefts are not 'mostly' a good sign. While the thefts somewhat validate bitcoin, the overall effect of hacks/thefts are a negative thing for the system on a whole.

We do not need hacks/thefts to help show how valuable bitcoins are. An influx of hacks/thefts can greatly lower the confidence of the users within the system.
bbit
Legendary
*
Offline Offline

Activity: 1316


Bitcoin


View Profile
August 01, 2012, 04:22:24 PM
 #34

On point!  Grin


           █████████████████     ████████
          █████████████████     ████████
         █████████████████     ████████
        █████████████████     ████████
       ████████              ████████
      ████████              ████████
     ████████     ███████  ████████     ████████
    ████████     █████████████████     ████████
   ████████     █████████████████     ████████
  ████████     █████████████████     ████████
 ████████     █████████████████     ████████
████████     ████████  ███████     ████████
            ████████              ████████
           ████████              ████████
          ████████     █████████████████
         ████████     █████████████████
        ████████     █████████████████
       ████████     █████████████████
▄▄
██
██
██
██
██
██
██
██
██
██     
██
██
▬▬ THE LARGEST & MOST TRUSTED ▬▬
      BITCOIN SPORTSBOOK     
   ▄▄
██
██
██
██
██
██
██
██
██
██     
██
██
             ▄▄▄▄▀▀▀▀▄
     ▄▄▄▄▀▀▀▀        ▀▄▄▄▄           
▄▀▀▀▀                 █   ▀▀▀▀▀▀▀▄▄
█                    ▀▄          █
 █   ▀▌     ██▄        █          █               
 ▀▄        ▐████▄       █        █
  █        ███████▄     ▀▄       █
   █      ▐████▄█████████████████████▄
   ▀▄     ███████▀                  ▀██
    █      ▀█████    ▄▄        ▄▄    ██
     █       ▀███   ████      ████   ██
     ▀▄        ██    ▀▀        ▀▀    ██
      █        ██        ▄██▄        ██
       █       ██        ▀██▀        ██
       ▀▄      ██    ▄▄        ▄▄    ██
        █      ██   ████      ████   ██
         █▄▄▄▄▀██    ▀▀        ▀▀    ██
               ██▄                  ▄██
                ▀████████████████████▀




  CASINO  ●  DICE  ●  POKER   
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
   24 hour Customer Support   

▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
szuetam
Sr. Member
****
Offline Offline

Activity: 371



View Profile
August 01, 2012, 06:34:57 PM
 #35

On point!  Grin
Agree.
waspoza
Hero Member
*****
Offline Offline

Activity: 602


Firstbits: 1waspoza


View Profile
August 01, 2012, 08:16:18 PM
 #36

We do not need hacks/thefts to help show how valuable bitcoins are. An influx of hacks/thefts can greatly lower the confidence of the users within the system.

There are thousands credit card number thefts everyday and still somehow nobody lost faith in credit card.
CoinCidental
Legendary
*
Offline Offline

Activity: 1246


Si vis pacem, para bellum


View Profile
August 01, 2012, 08:28:16 PM
 #37

We do not need hacks/thefts to help show how valuable bitcoins are. An influx of hacks/thefts can greatly lower the confidence of the users within the system.

There are thousands credit card number thefts everyday and still somehow nobody lost faith in credit card.

because you can simply call your bank ,tell them someone in argetina made $10,000 of unauthorised  purchases on your credit card  and they will reverse the transactions

who are you going to call when your btc wallet gets hacked for $10,000 of BTC ?
kiba
Legendary
*
Offline Offline

Activity: 980


View Profile
August 01, 2012, 08:30:37 PM
 #38

who are you going to call when your btc wallet gets hacked for $10,000 of BTC ?

The flip side of freedom is responsibility.

CoinCidental
Legendary
*
Offline Offline

Activity: 1246


Si vis pacem, para bellum


View Profile
August 01, 2012, 08:34:25 PM
 #39

who are you going to call when your btc wallet gets hacked for $10,000 of BTC ?

The flip side of freedom is responsibility.

if bitcoin is going to grow to mainstream  ,it has to be more usable

right now its just too complicated for the simple minded average person

even a monkey could use a credit card and  4 digit pin but keeping your coin encrypted well
requires a bit more effort
Rygon
Hero Member
*****
Offline Offline

Activity: 521


View Profile
August 01, 2012, 08:35:18 PM
 #40

Eventually we will see exchanges/financial services with deposit insurance, backed up with BTC and possibly fiat currency. Or something more substantial than a promise to run a secure exchange. There may not be large enough market yet, but if BTC catches on, the casual investor will be more interested in that option.
Pages: « 1 [2] 3 »  All
  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!