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Author Topic: News from the cryptocurency wars  (Read 1590 times)

Offline trodas

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News from the cryptocurency wars
« on: March 12, 2014, 12:53:03 PM »
I'm a big fan of currency, that has no central banks and cannot be really controlled by the governments. However it shoud be fair to say, that we need to kink out the problems and keep the ingeniuity of hackers in check, because after the demise of Mt. Gox Bitcoin exchange another one bite the dust:

Flexcoin, a Bitcoin-based bank shuts down after $620k in coins stolen
http://www.tweaktown.com/news/35959/flexcoin-a-bitcoin-based-bank-shuts-down-after-620k-in-coins-stolen/index.html
"...on Sunday, March 2nd hackers breached the company's security and managed to steal 896 Bitcoins, valued at more than $620,000 USD."

Looks like that the fact, that the Bitcoin is anonymous, lead to being very attactive for hackers to stole. However at least "only the hot wallet was breached, leaving thousands of bitcoins in cold storage untouched and safe" ... So the cold storage (servers off the net) was a good idea, after all :)
"It is dangerous to be right in matters on which the established authorities are wrong." - Voltaire
"I believe that all the people who stand to profit by a war and who help provoke it should be shot on the first day it starts..." - Hemingway

Offline trodas

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Re: News from the cryptocurency wars
« Reply #1 on: March 21, 2014, 03:45:53 AM »
Mt. Gox found 200,000 Bitcoin ($116 million) in an old wallet, should check its pockets
http://www.engadget.com/2014/03/20/mt-gox-apparently-found-200-000-bitcoin-in-an-old-wallet-shoul/

So, it is almost like 1/4 of the allegedly stoled Bitcoins by hackers (850 000 Bitcoins to be precise), but at least it is something. However it cast a doubt, whatever this was really a hackers attack, or just Mt. Gox attempted fraud. Clearly, these people are proven to be untrustworthy and maybe if people go after their assets, then we will see more "found" Bitcoins.

Like it was in the old times, when banks owners and even stock holders are responsible with everything they have (!) for the bank well being and good investments:
"It is dangerous to be right in matters on which the established authorities are wrong." - Voltaire
"I believe that all the people who stand to profit by a war and who help provoke it should be shot on the first day it starts..." - Hemingway

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Re: News from the cryptocurency wars
« Reply #1 on: March 21, 2014, 03:45:53 AM »

Offline trodas

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Re: News from the cryptocurency wars
« Reply #2 on: August 03, 2014, 04:39:42 PM »
Using Bitcoin will end all wars



...and also it will end up the thievery called taxes and with it all the unjustices and cheats of current states. This is a noble cause, like ending the slavery, just much more important to whole humanity and of far higher more reaching.
(before the USA civil war, only 2% of people was for ending of the slavery)

Let's imagine a word, where all war mongers must pay for each of their wars to the last fraction of Bitcoin. Because when you take the power to print money out of thin air for their wars, then they must reach deep into their pockets to pay for wars they want. Surely that will pressure them soon to become quite tolerant and etical people.

Is not that world worth fighting for?
"It is dangerous to be right in matters on which the established authorities are wrong." - Voltaire
"I believe that all the people who stand to profit by a war and who help provoke it should be shot on the first day it starts..." - Hemingway

 

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