Bitcoin discussion and news
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Yetman
Cheesecar Fucksquad #1
They've been stirring for the past week about something happening behind the scenes... glad I withdrew what I had when I did
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gaslit at scale.
Seems likely to have been a straight grab-da-bitcoin-an-run on the part of Silk Road 2 staff. They ran an escrow service that was basically a knock-off of the Trust that had accrued to the original Silk Roads escrow service.
They blamed something called transaction-malleability for emptying the wallets, even though this bug cannot be used to steal bitcoins from wallets, merely interfere with the speed of confirmation times. Seems running a vast anonymous black-market site is such a challenging jungle of spinning-plates that it's easier to just scam a large number of organized criminals than risk being eventually nabbed by the FBI or something. Maybe the SR2 people realized this and figured "fuckit, lets just dispeer wid all da loot!"
Anyway, cheep-coin bonanza, circle-of-life etcetera.
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Yetman
Cheesecar Fucksquad #1
Where are you getting that from?? I need some bitcoin... could do with getting them in cheap while I can
Yetman
Cheesecar Fucksquad #1
ffsear
Well-Known Member
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gaslit at scale.
Woah... that's been the case for the last month I think. They had an accounting issue caused by something called malleability bug. the result has been this price distortion as getting bitcoins off Gox is slower and riskier now then buying elswhere. If you want to risk the probably insolvent Gox disapearing with your fiat or bitcoin, you should consider the cheap prices 'danger pay', or 'danger, stress and hassle pay'.
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savoloysam
Pigman's pigman's ha ha charade you are..
Tis crazy man. The tor network is a big fish scammers paradise but the price of the coins keeps going up? Must be fuck off big spending speculators out there!
Monkeygrinder's Organ
Dodgy geezer swilling vapid lager
Not that I'm paying close attention but hasn't the price been falling for a while?
joustmaster
offcumdun
Its dropped to about $550.
But if you are going by mtgox.com then its dropped to $150. But thats because they have fucked it all up and are probably insolvent.
Yetman
Cheesecar Fucksquad #1
Link?
What a gamble. It's hard to believe the price hasn't dropped more.
The guy on the right, Kolin Burgess from London seems to have lost $320,000 but is quoted a saying. "I may have lost all of my money. It hasn't shaken my trust in Bitcoin, but it has shaken my trust in Bitcoin exchanges."
The guy on the right, Kolin Burgess from London seems to have lost $320,000 but is quoted a saying. "I may have lost all of my money. It hasn't shaken my trust in Bitcoin, but it has shaken my trust in Bitcoin exchanges."
joustmaster
offcumdun
well, the price on mtgox did drop a lot. it was at $150 last week. The other exchanges are keeping quite steady at about $500 though (as steady as btc exchanges do).What a gamble. It's hard to believe the price hasn't dropped more.
The guy on the right, Kolin Burgess from London seems to have lost $320,000 but is quoted a saying. "I may have lost all of my money. It hasn't shaken my trust in Bitcoin, but it has shaken my trust in Bitcoin exchanges."
People have been saying mtgox has spent all the cash for months.
Yetman
Cheesecar Fucksquad #1
It's almost like the bitcoin exchanges are behaving like banks, but instead of looking after and managing the customers money, they are stealing it all themselves and then getting away with it!
...oh....hang on...
joustmaster
offcumdun
I lost all faith in them back in the middle of 2011 when they lost all their password database which was full of unsalted hashes. I don't really understand how a company like mtgox can recover from something like that.
And with the rumours of restricting people getting coins and cash out of their site for the last 6 months..
And with the rumours of restricting people getting coins and cash out of their site for the last 6 months..
camouflage
gaslit at scale.
I'm a little peeved as I should have bought PTS last night (which held their value quite nicely through all this) and then sold them in exchange for cheep bitcoins thismorning. I didn't.
Before that I noticed Quark Coin approaching final halving day ever at the foot of it's days long slide.... a perfect time to buy for the bump. I didn't.
Just before that I noticed Vertcoin engaged in a similar inexplicable slide, despite it's strong and talkative community, the lots of effort and love lavished on the thing, it's not inconsiderable volume, I could actually see the bottom revealing itself, and that by the next day it would be back on its way up... so no, I didn't buy any of them either.
Ah well, defensive laziness for the win in the long-run. Usually. Except when not obviously.
Monkeygrinder's Organ
Dodgy geezer swilling vapid lager
What a gamble. It's hard to believe the price hasn't dropped more.
The guy on the right, Kolin Burgess from London seems to have lost $320,000 but is quoted a saying. "I may have lost all of my money. It hasn't shaken my trust in Bitcoin, but it has shaken my trust in Bitcoin exchanges."
Is that 320,000 he's actually put in at some point, or 320,000 his bitcoin was worth for five minutes?
beesonthewhatnow
going deaf for a living
I don't have much sympathy either way
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