Gifts text NOT about price. The bitcoin of the US government leak is that the people whose emails were leaked were targeted bitcoin scammers, one confirmation whom succeeded in dramatic style. Many have tried, some with more success than others. Mtgox about the amount gifts money being ploughed into bitcoin: I bet that guy who confirmation k of his sisters inheritance mtgox Bitcoin has some money in this. Creating fake supply and fake prices.
So they pay a large amount of tx but it is still less than 0. The second change was to change the "addr" property in the outputs from base58 encoded to hex format. I checked this a few times. Which tx with fees have this problems? On 8th August bitcoin developer Jeff Garzik wrote what could be mildly described as the biggest understatement since Apollo 13 told Houston: To analogize, not pausing withdrawals would be like trying to fix a car while going mph down the highway.
Well, I have to say it: Bitcoin know it's in Tokyo, probably in Mtgox I can't be the only confirmation that's been out of MtGox for a while, right? Are the fiat withdrawals also in that same car gifts at mph, or did those already crashed and not fixable and are therefore out gifts the question confirmation CryptoCoinsNews will be monitoring any potential developments in this story as it happens. And  says this:. DeathAndTaxes Yeah, I read about this guy who used a fee but the output he mtgox to use was not confirmed no bitcoin.
There are now dozens of exchange and wallet startups, only the sanest and most competent of them deserve to be in this business. I think one of their big problems is that Mark is their main coder and he does most of the stuff himself by the sounds of it. It doesn't sound like he trusts anybody else to work on sensitive parts of MtGox.
I can understand that, but even government agencies have to trust external contractors and such to do work for them, and that work is far more sensitive than what goes on at MtGOx. I agree with a lot of what you said. I think that he did it all himself and did it poorly. Instead of putting his pride aside and hiring someone who knows what they're doing, I think he thinks he can do it all himself, even if its something outside of his knowledge. Its obvious that its amateur hour over there and everything is done SLOW, sloppy, and just generally they are very incompetent.
However, I do think they made the right choice by stopping withdrawls and finally making a real public statement on the issue. True but they often require security clearance. Also, nothing is more sensitive than money, nothing. I'm not so sure. Hasn't every developer who halfway keeps up with this internet thing read the discussions about http: Well, what you've got to look out for, are the 'unknown unknowns', as Donald Rumsfeld so aptly put it.
I'm not a programmer but I know enough to find this intriguing Which, given that Bitcoin -- as it stands now -- needs to be accurate to 8 decimal places, is a particularly huge issue. To be clear, though, the problem has been solved for decades and the only reason it still comes up is if you don't know to do it properly.
There're various ways but the most straight forward one these days is usually to use data types that are designed to let you store and calculate monetary values accurately, e.
It's just a case of knowing they're there. I think it's important to point out that there is the same amount of precision even when the magnitude is larger. The issue isn't that. That is, the same calculation can have different results on different machines. This probably doesn't affect the Mt Gox case that much, but could result in little rounding errors creeping in here and there, which will end up getting magnified as time goes on.
That's an excellent resource to point people to who aren't aware of the dangers of implementing cryptography themselves, but his conclusion seems rather dubious and not what I was expecting emphasis mine:. Save yourself the trouble. There are millions of ways to mess it up and precious few ways of getting it right. I was expecting him to emphasize not implementing cryptography yourself, and then pointing to a few known-good implementations.
I suppose the better take away would be to assert that one should always assume they are at stage two when it comes to cryptography competence. I like how his one-line Twitter bio that he probably hasn't updated in forever says this to you. Maybe he is now too busy with Shade 3D? Coinbase deposited 6, into my bank account without my permission, and then withdrew it also without permission a week later.
They doubled a transaction I had made, but made it several days apart. It seems very likely to me that for some reason Mark K is not able to work on his codebase anymore,. Because probably it wasn't his code. Reimplementing the bitcoin protocol is step above php hacks. I'll wager apples to turds that he hired a semi-competent programmer, had a fallout with him, and now he's stuck with a working implementation with no way to correct new issues.
Therefore the turn around trip takes two weeks. If you have an issue, you can take it up with the speed of light and the laws of the natural universe and not our perfectly functioning exchange. Incidentally, the deposit servers are located right here on Earth so we can accept your funds as quickly as possible. To analogize, not pausing withdrawals would be like trying to fix a car while going mph down the highway. The issue merely compounds on itself. This pause is clearly not ideal, but it will lead to a better outcome than doing otherwise.
Why didn't you stop withdrawals immediately when the bug was discovered? The second change was to change the "addr" property in the outputs from base58 encoded to hex format.
The first change broke the sites skanner. As this API call is the only help people have had to find out what happens to their transactions, why do you make changes to it right now when you could better spend development time on finding the actual bug? The guys at coinsight. For example, transactions febf2ebebb11f57adfddfc1ab8fdb and c5cebaf55c95eff5b67ff71edaa82fbe82b5f5b among several others uses the same input: This information might not be available anymore as transactions are being reverted into customers accounts.
If a input is used in one TX, then it shouldn't be used in another, or it will be treated as a double spending. And I would like to hear from you what possible explaination your developers could have for that kind of bug. Are the fiat withdrawals also in that same car going at mph, or did those already crashed and not fixable and are therefore out of the question entirely? At this point you're just being insulting. They've been insulting for the past 2 years, I'm surprised anyone still uses them, I still see noobies defending them here which is hilarious.
You should have announced that well in advance, and set for a limited time that you also announce in advance. Fuck your incompetence, really. BTC withdrawals seems to me to be a technical-only problem. I know, but as another professional developer since about the same time, I can tell you that even the whales in the software business are working on their live systems sometimes. Testing on large distributed systems is hard, expensive and often not used even by the likes of google and amazon.
So I would guess more then likely gox do not have more than a basic unit test framework and isolated systems testing. If they are not honest, we have bigger problems than software testing issues. So it comes down to whether they are honest or not. If they are honest, they are just way over their head and need the time to get their shit together, if not, and you have coins there, pray. And by that, I mean they take X times as long to do a job N times as poorly as someone who is any good.
In order for MtGox to have a double spend bug for as long as they have, in addition to the coinbase maturity bug, they clearly must not be staffed with stellar talent to begin with. Given that situation, I would have preferred this suspension to happen a while ago. I wasn't really looking forward to spending most of today trying to withdraw another 73 transactions, with only 11 going through, which is what I was doing yesterday You need to do this more often.
We can handle bad news, we can handle the fact that Gox has problems! But what we can't handle, is that you keep us in the dark with almost everything! I would be very, very careful about what you say to the public. If you're experiencing the equivalent of a bank run, giving the impression that the issues are merely technical and not financial could be problematic.
Also, initiating a stop like this to drive the price down in order to mitigate the financial issues and allowing yourselves to basically trade your way out of it could also be problematic. I thought you were the highway, and our cash the cars. You broke the highway, not the cars.
Validate my goddamned bank account, you unprofessional hacks, so I can get my money out of your grubby mitts once and for all. Seriously, you all deserve to lose your jobs and go out of business, I've never experienced service anywhere near as bad as I've gotten a MountSucks.
Hello MtGox, you are the most terrible Bitcoin exchange that has ever existed. You are a disgrace to the Bitcoin community and that will not change until you will eventually have to close down because it will finally be impossible to keep running your scam.
To analogise, you are a car that is total loss, it cannot be fixed any more. It can only be destroyed. This will be the end of GOX. Because of this blunder of yours people are losing hundreds of dollars Waited over 2 months for AUD withdrawal, got fed up, asked them to cancel the withdrawal, all good.
Now I can't get my BTC out either. MtGox was holding fiat withdrawals. This caused people to want to exchange their fiat into BTC on MtGox in order to move the money out of MtGox and to another exchange presumably, which is unfortunate because it creates a negative arbitrage situation for people wanting to leave MtGox. The increased buy orders from that scenario drove the price up on MtGox but not other exchanges since the problem didn't exist there.
Yup and not only bitcoins other coins like LTC are loosing value as well. This is the first time ihave seen gox price lower than that of btce. Yeh, I don't get that either. If no money or bitcoins is going out of mtgox then why would it effect the price. Is this really the reason for the price drop or is it the Russian ban? I suspect its the later, the same happened in China when they banned currency deposits. Looking at earlier price drops, MtGox screwing up has often been the reason why.
Could very well be a ponzi. Maybe those reserves have gone to zero. Thank them when they do something productive. It is like thanking a rapist that he was wearing condom.
It is kind of nice, but you were still raped Also, my local bank can fix their systems without halting their operations, so your analogy doesn't work at all.
A "pause" is more like purposely ramming your car after into a wall in order to stop it for repairs. Can't wait to see what the status of the market is in 4 days. How about refunding the trading fees for everyone who has used your site in the last month? If a company fails to provide the service a customer pays a fee for, that is usually what they have to do.
I am betting big and will most probably never get it back but I love betting when everyone panic! Why do people actually use Gox? To me it's been the worst exchange out there. Not to mention their super inflated BTC price. I have been warning people since well over a year.
People are just stubborn and to lazy to make the switch. Hell, some people don't even use it as an exchange but simply as a way to store their BTC 'safely'. I'm pretty sure they need the weekend to manually clear out all the coins and keep it themselves.
You must have lived under a rock if you didn't see this coming for at least a year. So you where not around when everybody was bitching about Gox For the last years? Here's the Urban Dictionary definition of goxed:. Derived from the "temporary" closure of the Bitcoin exchange site MtGox in June , and the repeated delays in reopening for trading.
Well I feel real bad for anyone with money trapped in gox now Not that this wasn't expected. But I also feel damn good about picking up some cheap coins. I had a wire scheduled this morning to go to my bitcoin wallet at MTGox but cancelled with my bank when I saw this. I clearly have NO idea what I am doing.
We are insolvent and have been franticly trying to sell a stake in Mt. Gox to an investor for the last 3 months white knight to cover the shortfall. The wheels are now falling off the bus so until we raise some money, withdrawals have been suspended. If we do not raise any money, you will not see any of your cash. Thank you for supporting us over the years. MtGox is not going insolvent. They have, more than likely, made much more in commissions during the last 3 months alone, as compared to the money Feds seized from them.
And this doesn't count the arbitrage that they could have done, since they had the easiest access to funds. I can't wait for the day, when an investigation opens and all the withdrawal records are made public. Yeah, people were attributing it to Apple, then Russia, but the first mover was Gox and the most dramatic part was the reduction of the gap.
The good news is while you can't withdraw, they will start offering BFL equipment for sale to make it up to you. Well, I have to say it: HA Ha HA ha ha , who is the idiot now? In hindsight, after all the debacles we've seen over the past few years, why oh why did people stick with it for this long? I think the one big factor here is that Mt. Gox bitcoin price has now reached parity with the other Exchanges.
The only reason why anyone would have been trading at Mt. Gox or opening an account with them in the past 6 months given everything that has been said about them on places like Reddit was the "greed" factor; ie. Gox and make instant profit. That factor has now been taken out of the equation So what are the chances that these guys ever re-enable BTC withdrawals?
I bet that guy who lost k of his sisters inheritance daytrading Bitcoin has some money in this. How many days until Mark Karpeles becomes the 2nd member of the Bitcoin Foundation to be indicted on Federal charges?
Since this happened the price of BTC has fallen dramatically. The question is, will the Mt. Gox failure reflect negatively on BTC in perpetuity and doom the fundamental project? I know the tech works, and e-shops are currently coming along; but if Mt. All these fake exchanges with NO bitcoin need to go bye bye. Creating fake supply and fake prices. So let me get this straight. Think about the amount of money being ploughed into bitcoin: The most recent major issue occurred when Bitcoin Core version 0.
Remember the terror that accompanied upgrading your old Windows PC because none of the software would work afterwards? That happened with bitcoin. As with the 92 billion bitcoin problem, the community sounded the alarm and forced a hard fork back to version 0. Originally founded as a trading card site, Mt.
The outcome of this foolhardy approach to development? The US government is willing to deal in bitcoin to some extent, a small but important signal. But it was also accompanied by its fair share of farce.
Before the auction the government accidentally emailed the potential participants but forgot to bcc them, so everyone who received the email could see who else had been emailed, meaning their names were eventually leaked.
Of course this kind of mistake is common — so common that even acclaimed bitcoin developer Amir Taaki made the mistake back in when he ran Intersango , a UK-based bitcoin exchange that eventually closed down in late after its banking relationship with Metro Banks turned sour. The upshot of the US government leak is that the people whose emails were leaked were targeted by scammers, one of whom succeeded in dramatic style.
Sam Lee of of bitcoin fund Bitcoins Reserve received an email claiming to be from a media company. The attached document was supposedly a list of interview questions but actually linked to a website prompting Lee to enter his password.
When he did, the attacker took over his email and sent a message to the CTO, requesting a transfer of bitcoin. So when auroracoin was announced in February , a cryptocurrency designed to be a national currency for Iceland, the stars seemed to have aligned perfectly. As a result it was vulnerable to attack from anyone with a modest amount of computing power at their disposal.
Here are two good post-mortems of the entire fiasco , which go some way to casting doubt on the viability of alternative cryptocurrencies. But what were they selling, I hear you ask? A temporary cryptocurrency, which will one day be exchangeable for the permament cryptocurrency running on the Maidsafe network.
You could only participate in this cryptocurrency crowdsale with bitcoin or another cryptocurrency, mastercoin. Why risk your crowdsale by allowing people to buy in with a practically worthless cryptocurrency like mastercoin?
In the end, Maidsafe still successfully raised millions of dollars , but mostly in mastercoin, which isn't really very helpful when bills need to be paid in fiat, or bitcoin at a stretch. Something similar happened to this hapless Redditor , who made a simple typing error back in July , attaching 30 bitcoin to a 38 bitcoin transaction.
There are many many more stories like these. Too many to include in one piece, but let us know your favourite stories of bitcoin woe in the comments below.
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Cost and Confirmation time of Bitcoin Transactions. BitcoinsAreSexy - Paypal USD EUR and Amazon gift cards for Bitcoins (US/FR/DE/ES) - Serving thousands of happy customers since April! Here's a live list of Mt. Gox Bitcoin transactions stuck waiting for confirmation for more than 2 hours. 14 Jan how to do bitcoin trading cryptocurrency exchange rates graph bitcoin casino no deposit bonus bitcoin income tax places to spend bitcoin online bitcoin by end of year bitcoin trading sites ranking coin bitcoin news blockchain app store mt gox bitcoin cash bitcoin limit disk space best cryptocurrency. 13 Feb Bitcoin miners then scoop it up, verify it, and send it on to the rest of the network for confirmation. Once the transaction has been confirmed, there is no way for that same person to spend those same bitcoins because they are being checked against the public ledger. The malleability feature allows a person.