http://www.independent.ie/business/...y-29175639.html

http://www.theregister.co.uk/2013/0..._ddos_analysis/

Ordered your mining rig yet?

This news is both bad and good. It shows a fault in the system, but it also goes to show it's becoming increasingly mainstream.

quote:

Originally posted by itsamemario http://www.independent.ie/business/...y-29175639.html http://www.theregister.co.uk/2013/0..._ddos_analysis/ Ordered your mining rig yet? This news is both bad and good. It shows a fault in the system, but it also goes to show it's becoming increasingly mainstream.

That's more of an internet fault than a Bitcoin fault. The framework of the currency is pretty solid, but it's impossible to eliminate stupid people from the equation. The system stabilized very quickly and things seem to be running fine. DDOS attacks are almost impossible to stop and that makes anything that runs on the internet vulnerable.

Nobody knows what's going to happen with Bitcoins, so I don't see anything wrong with dabbling around with 'em, just as long as you don't sell your house to buy a mining rig.

apparently you can now hedge your bitcoin longs.

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why wouldn't it go well? you guys are stupid, why i even bother to roam around these places is beyond me...tradition or habit?

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quote:

BITCOIN, a "cryptocurrency" that has all the financial world talking, has had a crazy few days. Bitcoins have always been volatile, but over the past week the currency went on a tear, rising to close to $300 dollars

http://www.economist.com/blogs/free.../exchange-rates

Wow.

I could have had an extremely large amount of money had this been a year ago.

quote:

Originally posted by Lagrangian why wouldn't it go well? you guys are stupid, why i even bother to roam around these places is beyond me...tradition or habit?

Well why don't you fuck off then? Jesus get over yourself.

quote:

Originally posted by Silky Johnson Well why don't you fuck off then? Jesus get over yourself.

yeah, how much cock does he suck?

in more bitcoin hilarity, mt gox (the biggest trading site IIRC)ceased trading for 12 hours after the price plunged. free market woohoo!

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quote:

Originally posted by pkcRAISTLIN yeah, how much cock does he suck? in more bitcoin hilarity, mt gox (the biggest trading site IIRC)ceased trading for 12 hours after the price plunged. free market woohoo!

TOKYO - JAPAN - April 11, 2013

Hi everyone, just a quick update on the situation and what happened last night.

First of all we would like to reassure you but no we were not last night victim of a DDoS but instead victim of our own success!

Indeed the rather astonishing amount of new account opened in the last few days added to the existing one plus the number of trade made a huge impact on the overall system that started to lag. As expected in such situation people started to panic, started to sell Bitcoin in mass (Panic Sale) resulting in an increase of trade that ultimately froze the trade engine!

To give you an idea of how impressive things were here are some numbers that we would love to share with you guys:
- The number of trades executed tripled in the last 24hrs.
- The number of new account opened went from 60k for March alone to 75k new account created for the first few days of April! We now have roughly 20,000 new accounts created each day.

Due to these facts we have been busy working on improving things since last week and our team has been working around the clock to improve Mt.Gox to catch up with the demand. We will continue to release several updates today and in the coming few days to improve our system overall performance.

Also please note that we may have to close the exchange for two hours in the next 12 to 24hrs to add several new servers to our system.

Thank you for your understanding and continuous support!

Regards
Mt.Gox Co. Ltd Team.

I find it a little humorous that after the creation of this thread, at least three new stories regarding Bitcoins have I read about in my BBC phone app. First the DDOS market crash, then the Mt.Gox thing, now a third, and double, one appears? Mt.Gox had to close down again, but this time it was due to an attack, a hefty one even at that. But wait, I scroll down and there's more.. Bitcoin stealing machine sounds way better than phishing script, but I kept on reading. Apparently one one person had fallen for it, or would at least [word] to that publicly, and he lost 34 bitcoins. He had fallen for an email that said they were gonna start offering LiteCoins in addition to regular BitCoins and you had to download an exe update, which basically just patched the BC software to send all the money away.

I mean, it's only natural that attacks like this happens when there are surges of new members, and attacks again give greater exposure leading to even more new members, given the attacks aren't too great.
Nonetheless, I can't remember seeing anything relating to Bitcoin, apart from a few articles that mentioned TOR but mainly in passing, and I check the BBC News app pretty regularly. So it's fun to see someone makes a thread about Bitcoins and the whole system subsequently the whole system goes to shit.
The COR is like a Midas hand of feces.


Edit:
Here's the article if anyone's interested: http://www.bbc.co.uk/news/technology-22120833
I do however feel that my rendition more than adequately summarized the content of the account.

Last edited by itsamemario on Apr-13-2013 at 01:38

*BUMP* for lulz

Wonder if OP is currently shopping for a new yacht?

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