techmac
2973
techmac  

Angry at your broker for spikes. See bitcoin yesterday :):):)

Files:
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test  

"Pump & dump" is back : the mob is leaving its signature all over the bitcoin

thenews
28438
thenews  

Hackers Launch Attacks on Bitcoin Exchanges

The two largest bitcoin-trading exchanges came under attack from hackers Tuesday, leaving customers unable to withdraw their money in the latest development to roil the fledgling virtual currency.

Slovenia-based Bitstamp said it halted customer withdrawals to deal with the issue. BTC-e, a bitcoin exchange based in Bulgaria, said it was experiencing delays in crediting certain transactions. During such outages, some trading can continue, but customers aren't able to gain access to their money.

Both exchanges described the problem as a denial-of-service attack, according to comments made by the companies on their websites. In denial-of-service attacks, hackers essentially disable a website by flooding it with information requests.

The two exchanges account for 56% of bitcoin trading volume, according to bitcoincharts.com, which tracks trading activity.

The attacks underscored the fragility of the five-year-old currency, which is created by computers and isn't backed by a central bank.

"This is a very big deal," said Jaron Lukasiewicz, chief executive of Coinsetter, a New York-based bitcoin-trading platform that remained open as usual. "The two largest bitcoin exchanges aren't processing withdrawals—that essentially shuts the ecosystem down."

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techmac
2973
techmac  
Transaction malleability has been known about since 2011. In simplest of terms, it is a small window where transaction ID’s can be “renamed” before being confirmed in the blockchain. This is something that cannot be corrected overnight. Therefore, any company dealing with Bitcoin transactions and have coded their own wallet software should responsibly prepare for this possibility and include in their software a way to validate transaction ID’s. Otherwise, it can result in Bitcoin loss and headache for everyone involved.

For 3 years they know that people can lose money in a thin air using bitcoin and only now they are "explaining" it? Fantastic

thenews
28438
thenews  

Bitcoin hit by denial of service attacks as regulators prepare clampdown

Bitcoin is being hit by attacks from unknown computer hackers who are sending "mutated" lines of code into the program that runs the virtual currency, a spokeswoman from its main trade organization said in a statement on Tuesday.

The attacks are responsible for problems experienced by two bitcoin exchanges that caused them to temporarily halt withdrawals by customers who stored bitcoins in digital wallets provided by the exchanges, the Bitcoin Foundation said in a statement.

"This is a denial-of-service attack," said the spokeswoman, Jinyoung Lee Englund. "Whoever is doing this is not stealing coins, but is succeeding in preventing some transactions from confirming. It's important to note that DoS attacks do not affect people's bitcoin wallets or funds."

Englund said a team of core software developers who focus on bitcoin were working to fix the problem, but until it was solved some users would not be able to do anything with their bitcoins, and the affected bitcoins would appear to be "tied up" in transactions.

"Only users who make multiple transactions in a short period of time will be affected," she said.

On Tuesday, Slovenia-based Bitstamp became the second major bitcoin exchange to halt customer withdrawals in the past several days, citing "inconsistent results", and blaming a denial-of-service attack.

That was a day after Mt. Gox, the best-known digital marketplace operator, said a halt on withdrawals would continue indefinitely. Traders reacted to the halt by sending the value of bitcoin to its lowest in nearly two months.

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techmac
2973
techmac  

Bitcoin Price Declines Following Restrictions On Withdrawals By Mt. Gox

An announcement of an indefinite halt on withdrawals by Mt. Gox resulted to the lowest price level for the bitcoin in almost two months recently.

The price of the digital currency went down to $595.74, which is 14 percent lower than the $692 final price on Friday. Societe Generale currency strategists said the current issue is bigger than what was encountered in the past and the market may have recognized the issues specifically affecting these currencies.

Even as acceptance for the currency has increased, it also drew additional scrutiny as the top bank regulator of New York indicated that it aims to control business using the currency this year.

Mt. Gox announced last Friday that withdrawals will be placed on hold due to unexplained issues, which resulted to the decline in the bitcoin prices. By Monday, Mt. Gox revealed it detected unusual activity on the wallets of the digital currency and it will put withdrawals on hold indefinitely.

The digital marketplace revealed that transaction details may be modified due to a bug in the software. The bug will allow anyone on the network to change the details of transactions to make it appear that bitcoins were transferred even if no transfer actually occurred.

The users of the currency store the digital currency in the application wallet. Mt. Gox revealed that the suspension will be lifted only after a resolution is found on the issue.

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Alan Mcclain
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Alan Mcclain  
techmac:
An announcement of an indefinite halt on withdrawals by Mt. Gox resulted to the lowest price level for the bitcoin in almost two months recently.

The price of the digital currency went down to $595.74, which is 14 percent lower than the $692 final price on Friday. Societe Generale currency strategists said the current issue is bigger than what was encountered in the past and the market may have recognized the issues specifically affecting these currencies.

Even as acceptance for the currency has increased, it also drew additional scrutiny as the top bank regulator of New York indicated that it aims to control business using the currency this year.

Mt. Gox announced last Friday that withdrawals will be placed on hold due to unexplained issues, which resulted to the decline in the bitcoin prices. By Monday, Mt. Gox revealed it detected unusual activity on the wallets of the digital currency and it will put withdrawals on hold indefinitely.

The digital marketplace revealed that transaction details may be modified due to a bug in the software. The bug will allow anyone on the network to change the details of transactions to make it appear that bitcoins were transferred even if no transfer actually occurred.

The users of the currency store the digital currency in the application wallet. Mt. Gox revealed that the suspension will be lifted only after a resolution is found on the issue.

read more

We may see some interesting news on Bitcoins soon.

thenews
28438
thenews  

Biggest Bitcoin Exchange Restores Service

Bitstamp, the Slovenia-based manager of the world's largest bitcoin exchange, said Saturday it has restored automated customer withdrawals after they were halted for four days after a hacking attack that crippled various platforms for exchanging the digital currency and raised questions about the security of its global network.

Separately, another bitcoin exchange, Tokyo-based Mt. Gox, whose struggle with fraudulent customer requests paved the way for a network-wide denial-of-service, or DOS, attack Tuesday on elements of bitcoin's shared infrastructure, said it had temporarily frozen deposits.

The freeze, which the exchange estimated would last until 12 p.m. Japan Standard Time (10 a.m. EST), was part of software changes intended to allow it to restore full operation, including bitcoin withdrawals, which have been frozen at Mt. Gox for more than a week. The exchange said it would "rigorously test" the changes before restoring withdrawal capability and would update customers Monday.

In a statement, Bitstamp said that "after rigorous testing, we have restored fully automated processing for Bitcoin withdrawals."

Bitcoin's price rose 9.73% Friday, according to an index provided by Coindesk, after Bitstamp first said it expected to restore withdrawals by the end of Friday. The statement announcing the revival of operations didn't appear until Saturday.

On Friday, Jeff Garzik, a programmer at payment processor Bitpay and a member of the bitcoin network's five-man core development team, said he was working with exchanges like Bitstamp to devise workaround solutions to allow them to clean up, reconcile and restore their accounts.

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thenews
28438
thenews  

Is Bitcoin Greatly Rotating Into Bullion?

While correlation is not causation, the coincidental timing of the tumble in virtual currencies and the surge in physical (alternative) currencies suggests another great rotation may be occurring... with gold at fresh 3-month highs as Bitcoin presses 3-months lows...

While not surprising, the chart above also shows the massive collapse in Mt.Gox pricing as the world and their virtual pet rabbit run for the exits...

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techmac
2973
techmac  

See the difference between MtGox and BitStamp prices. That is a complete and utter chaos good only for swindlers