Albumen
Don't wait for me!
Utter toilet, the whole thing.
Got something to say or just want fewer pesky ads? Join us... 😊
Bitcoins
- Thread starter Herr Tubthumper
- Start date
Yeah, the bloke who bought the apartment in the swish part of Oslo for $5 must think 'What a load of toilet that was'
Here's the Daily Mash's take on it:
http://www.thedailymash.co.uk/news/...most-able-explain-what-they-are-2014012282804
http://www.thedailymash.co.uk/news/...most-able-explain-what-they-are-2014012282804
daveinprague
New member
Getting BitCoin ATM's here..
http://praguepost.com/finance/35521-first-european-robocoin-atms-slated-for-prague
http://praguepost.com/finance/35521-first-european-robocoin-atms-slated-for-prague
desprateseagull
New member
I don't get this, neither. who would leave BC they have 'found' (or bought??), for other people to take?
jgmcdee
New member
- Mar 25, 2012
- 931
Sorry, I don't understand the question . Try again, and I'll try to explain.
The Maharajah of Sydney
Well-known member
Bitcoin Exchanges Under ‘Massive and Concerted Attack'
http://www.coindesk.com/massive-concerted-attack-launched-bitcoin-exchanges/
Emily Spaven (@emilyspaven) | Published on February 11, 2014 at 17:50 GMT | Bitstamp, Exchanges, News
A “massive and concerted attack” has been launched by a bot system on numerous bitcoin exchanges, Andreas Antonopoulos has revealed.
This has lead to popular exchange Bitstamp putting a temporary halt on all bitcoin withdrawals, and BTC-e announcing possible delays on transaction crediting.
Antonopoulos, who is the chief security officer of Blockchain.info, said a DDoS attack is taking Bitcoin’s transaction malleability problem and applying it to many transactions in the network, simultaneously.
“So as transactions are being created, malformed/parallel transactions are also being created so as to create a fog of confusion over the entire network, which then affects almost every single implementation out there,” he added.
Antonopoulos went on to say that Blockchain.info’s implementation is not affected, but some exchanges have been affected – their internal accounting systems are gradually going out of sync with the network.
He emphasised that this isn’t affecting withdrawals, because most exchanges are not processing them automatically.
Mt. Gox is the exchange that has suffered the most over the past few days, due to a number of factors, said Antonopoulos. One problem is that it was using a custom client (not the core Bitcoin software), on top of that there is the DDoS attack, plus it was using an automated system to approve withdrawals.
“This is not happening to other exchanges because they’re not stupid enough to issue withdrawals without checking them out first,” he explained.
Antonopoulos said we will see a few exchanges suspend withdrawals temporarily while they re-work their accounting systems to ensure they are not confused by the attack.
“It’s important to note no funds have been lost. Withdrawals have been halted to prevent funds from being lost or to prevent the balances from going out of sync,” he stressed.
Industry action
An industry-wide coordinated response has been put into action, with exchanges and core developers collaborating actively to attack the problem from multiple angles.
Various other groups within the ecosystem, including the big mining pools, are working to stop the issue from propagating across the network.
Any exchanges that are affected are working on fixing their internal systems so they correct the account balances and can resume withdrawals as soon as possible.
“I would expect to see withdrawals flowing again within 24 and 72 hours, and in the meantime, any withdrawals that were cancelled will reappear in customer account balances,” Antonopoulos explained.
Bitcoin developer Jeff Garzik said the core bitcoin block chain consensus mechanism and payment system are continuing to work as before, and are not directly impacted by transaction malleability.
He added: “Web wallets and other services that build services on top of bitcoin are reporting problems similar to MtGox, and are taking safety measures to ensure no fund loss, during this network disruption.
“Yesterday’s statement must be revised: we will likely issue an update fixing two edge cases exposed by this attack.”
Bitstamp has issued a statement explaining that it has temporarily halted BTC withdrawals. It begins:
Bitstamp’s exchange software is extremely cautious concerning Bitcoin transactions. Currently it has suspended processing Bitcoin withdrawals due to inconsistent results reported by our bitcoind wallet, caused by a denial-of-service attack using transaction malleability to temporarily disrupt balance checking. As such, Bitcoin withdrawal processing will be suspended temporarily until a software fix is issued.
The statement goes on to reveal that no funds have been lost, nor are any at risk.
BTC-e later issued a comment via Twitter, elaborating on its service interruption.
Don’t panic
Antonopoulos was keen to stress that, although this is a serious attack, it doesn’t spell the end of bitcoin. He believes the DDoS attack will be “thwarted” and exchanges will be running as usual by Friday.
“I expect things will go back to normal and the honey badger of money can continue showing its resilience,” he said.
“The death of bitcoin has been prematurely announced so many times already that the obvious conclusion is that bitcoin is far more resilient than its critics would like to think. I am confident that in a few days, those who predicted the death of bitcoin will once again be proven wrong,” Antonopoulos concluded.
http://www.coindesk.com/massive-concerted-attack-launched-bitcoin-exchanges/
Emily Spaven (@emilyspaven) | Published on February 11, 2014 at 17:50 GMT | Bitstamp, Exchanges, News
A “massive and concerted attack” has been launched by a bot system on numerous bitcoin exchanges, Andreas Antonopoulos has revealed.
This has lead to popular exchange Bitstamp putting a temporary halt on all bitcoin withdrawals, and BTC-e announcing possible delays on transaction crediting.
Antonopoulos, who is the chief security officer of Blockchain.info, said a DDoS attack is taking Bitcoin’s transaction malleability problem and applying it to many transactions in the network, simultaneously.
“So as transactions are being created, malformed/parallel transactions are also being created so as to create a fog of confusion over the entire network, which then affects almost every single implementation out there,” he added.
Antonopoulos went on to say that Blockchain.info’s implementation is not affected, but some exchanges have been affected – their internal accounting systems are gradually going out of sync with the network.
He emphasised that this isn’t affecting withdrawals, because most exchanges are not processing them automatically.
Mt. Gox is the exchange that has suffered the most over the past few days, due to a number of factors, said Antonopoulos. One problem is that it was using a custom client (not the core Bitcoin software), on top of that there is the DDoS attack, plus it was using an automated system to approve withdrawals.
“This is not happening to other exchanges because they’re not stupid enough to issue withdrawals without checking them out first,” he explained.
Antonopoulos said we will see a few exchanges suspend withdrawals temporarily while they re-work their accounting systems to ensure they are not confused by the attack.
“It’s important to note no funds have been lost. Withdrawals have been halted to prevent funds from being lost or to prevent the balances from going out of sync,” he stressed.
Industry action
An industry-wide coordinated response has been put into action, with exchanges and core developers collaborating actively to attack the problem from multiple angles.
Various other groups within the ecosystem, including the big mining pools, are working to stop the issue from propagating across the network.
Any exchanges that are affected are working on fixing their internal systems so they correct the account balances and can resume withdrawals as soon as possible.
“I would expect to see withdrawals flowing again within 24 and 72 hours, and in the meantime, any withdrawals that were cancelled will reappear in customer account balances,” Antonopoulos explained.
Bitcoin developer Jeff Garzik said the core bitcoin block chain consensus mechanism and payment system are continuing to work as before, and are not directly impacted by transaction malleability.
He added: “Web wallets and other services that build services on top of bitcoin are reporting problems similar to MtGox, and are taking safety measures to ensure no fund loss, during this network disruption.
“Yesterday’s statement must be revised: we will likely issue an update fixing two edge cases exposed by this attack.”
Bitstamp has issued a statement explaining that it has temporarily halted BTC withdrawals. It begins:
Bitstamp’s exchange software is extremely cautious concerning Bitcoin transactions. Currently it has suspended processing Bitcoin withdrawals due to inconsistent results reported by our bitcoind wallet, caused by a denial-of-service attack using transaction malleability to temporarily disrupt balance checking. As such, Bitcoin withdrawal processing will be suspended temporarily until a software fix is issued.
The statement goes on to reveal that no funds have been lost, nor are any at risk.
BTC-e later issued a comment via Twitter, elaborating on its service interruption.
Don’t panic
Antonopoulos was keen to stress that, although this is a serious attack, it doesn’t spell the end of bitcoin. He believes the DDoS attack will be “thwarted” and exchanges will be running as usual by Friday.
“I expect things will go back to normal and the honey badger of money can continue showing its resilience,” he said.
“The death of bitcoin has been prematurely announced so many times already that the obvious conclusion is that bitcoin is far more resilient than its critics would like to think. I am confident that in a few days, those who predicted the death of bitcoin will once again be proven wrong,” Antonopoulos concluded.
- Thread starter
- #148
I have just bought my first Bitcoin. Well, I bought one and half actually.
spring hall convert
Well-known member
The establishment is a little rattled about bitcoin aren't they - compare and contrast...
Bitcoin founder arrested for money laundering, for alledgedly aiding payments to Silk Road
http://www.reuters.com/article/2014/01/27/us-usa-bitcoin-arrests-idUSBREA0Q15N20140127
HSBC says sorry, has an executive resign and pays large(ish) fine for knowingly laundering the Mexican drug cartel's money.
http://www.theguardian.com/business/2012/jul/17/hsbc-executive-resigns-senate
The big banks tend to get what they want so I unfortunately don't see much of a future for bitcoin, I suspect it will be legislated against in the finance dominated economies before too long. The lesson here being that it's alright to deal drugs as long as you do it the established way and don't get caught.
Bitcoin founder arrested for money laundering, for alledgedly aiding payments to Silk Road
http://www.reuters.com/article/2014/01/27/us-usa-bitcoin-arrests-idUSBREA0Q15N20140127
HSBC says sorry, has an executive resign and pays large(ish) fine for knowingly laundering the Mexican drug cartel's money.
http://www.theguardian.com/business/2012/jul/17/hsbc-executive-resigns-senate
The big banks tend to get what they want so I unfortunately don't see much of a future for bitcoin, I suspect it will be legislated against in the finance dominated economies before too long. The lesson here being that it's alright to deal drugs as long as you do it the established way and don't get caught.
- Thread starter
- #150
Agree about the establishment getting rattled. As for the future of Bitcoin I do not have a clue. I made my purchase for a variety of reasons, the main ones being that I'm intrigued and interested and I also want to support it and I want it to succeed.
That said, I really do think the time is right for a genuine alternative system. I remember years ago people laughed at the idea of peer-2-peer currency exchanges and predicted little future for something existing outside of the regular banking norms. Peer-2-peer is now fairly established with better rates than you get through banks and/or Forex and I predict it will grow even further (as an aside I have a personal bug-bear with agents of any type getting in-between a transaction of any kind
) Bitcoin I see as the next logical step. It's a bit of a gamble but we'll see.I now need to figure out a way of spending the things.
spring hall convert
Well-known member
That said, I really do think the time is right for a genuine alternative system. I remember years ago people laughed at the idea of peer-2-peer currency exchanges and predicted little future for something existing outside of the regular banking norms. Peer-2-peer is now fairly established with better rates than you get through banks and/or Forex and I predict it will grow even further (as an aside I have a personal bug-bear with agents of any type getting in-between a transaction of any kind
I now need to figure out a way of spending the things.
I couldn't agree with you more, I hope it works out for you.
The Blind Tiger (ex Hector's House) in Brighton has started taking them, the next time you are around. I'm guessing you didn't purchase them, to buy beer with though!
Will you be investing any of them in litecoins?
- Thread starter
- #153
Thanks. I want to actively use and spend them and beer is a good as any other commodity so The Blind Tiger will get a visit. It's also a great pub aside from this.
A friend of mine has a litecoin mine in his spare room - a plastic crate full of graphics cards generating a lot of heat. Lots of cooling going on. He reckons it's costing him about £5-6 a day in electricity but he's earning over £10 a day on current values.
Sounds like a good move. I tried mining protoshares (the latest thing) on my laptop but it wasn't achieving much. I think you have to know about computers to do these things, as different types of processors are better for different types of coin. That side of things is all beyond me unfortunately.
- Thread starter
- #156
I've not got my head completely around Bitcoins yet, one thing at a time
Also, I'm not investing to get a return. I'm plan to use them as a genuine alternative to regular cash.
GingerBeerMan
3-0
- Dec 29, 2011
- 8,041
Not really, as with anything techy these days, there are plenty of tutorials out there which recommend the best graphics cards to use. The problem with mining on a laptop is CPU mining is very slow and most laptops have an integrated graphics chip which you'd be lucky to get more than a 20KH/s hash rate from. To put it into context some GPUs get 700KH/s hash rate, so a rig of 5 or 6 can easily amass to 3-5 MH/s. This makes the 20KH/s worthless.
Also I heard Dogecoins were the next big thing
(If you haven't heard about them, they sent the Jamaican Bobsleigh team to the Olympics through donations).I have heard about them, and they sound very much like a scamcoin!Also I heard Dogecoins were the next big thing
Uncle C
Well-known member
Tulip bulbs.
