71–80 of 99 posts
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>Can't wait to get my refund :) I had like 0.000001 BTC in mtgox and it was worth it for the cute sticky unfoldy postcard thing I got from the Japanese court.
Same here, I saved mine to show to my kids some day. "Hey look kids, your dad was summoned to a Japanese district court over the loss of 0.0001 bitcoin!"
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If penny stocks are the cocaine of the finance world, bitcoin and related cryptocurrencies are like freebasing crack.
More like krokodil.
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More like krokodil.
Give BTC a little credit, it's capable of giving you a solid rush and getting you(r bank balance) high. It doesn't always bankrupt you. That's a lot better than you can say of krokodil.
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Same here, I saved mine to show to my kids some day. "Hey look kids, your dad was summoned to a Japanese district court over the loss of 0.0001 bitcoin!"
Since bitcoin is deflationary (max supply) it's technically possible that 0.0001 might be worth something one day.
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The site was originally made for trading Magic The Gathering Online cards by one guy who later got bored and then got into Bitcoin but I have no idea and wikipedia doesn't mention if they reused any code or just the domain name itself. It's a fun piece of trivia one crypto currency guy told me and it seems to be true.
It really bothers me how often people repeat it like it means anything in this case. Like they forget Amazon was just selling books. Also no idea if it still uses any of the old code or just the name itself.
So either McCaleb built a brand new exchange from the ground up in one week, or he reused code from his Magic card trading service.
McCaleb sold the site to Karpeles 8 months later, and 3 months after that, it was breached for the first time. Allegedly, the hacker used McCaleb's old admin credentials to arbitrarily assign himself any amount of bitcoin, which he then started selling off to crash the price. Since the price crashed to $0.01, the dollar value of the withdrawal limit represented several thousand bitcoin, which the attacker promptly sent off-site.
No matter if the site was reused code from a Magic card exchange, or was written from the ground up, it never should have been within a thousand miles of anything of value.
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>All in all, there a strong suggestion that he participated in money laundering and was involved in the whole scheme. Well duh, anyone involved in the Bitcoin community was very well aware of this. BTC-e has been flagrantly disregarding AML and KYC laws for it's entire existence.
Btc-e is currently under 'unplanned maintenance' [1], does anyone know if it has something to do with this?. [1] https://btc-e.com/
http://www.reuters.com/article/us-greece-russia-arrest-bitco...
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>All in all, there a strong suggestion that he participated in money laundering and was involved in the whole scheme. Well duh, anyone involved in the Bitcoin community was very well aware of this. BTC-e has been flagrantly disregarding AML and KYC laws for it's entire existence.
Lots of people in Bitcoin hate KYC and AML laws, and consider them invasive. I am one of these people. In itself, it's not an indicator of wrongdoing.
The coin flow graph is terrific: http://wizsec.jp/images/theft_flow.svg Is this type of visualization common in Bitcoin? Is it a tool anyone can easily use? Edit , let me restate my question. "Is there a tool that generates Sankey diagrams from blockchain data that is easy to use?"
https://github.com/znort987/blockparser
https://web.archive.org/web/20161027122545/http://compbio.cs...
Is the diagram simplifying things? It looks like in a number of cases, coins were stolen, sent to a single wallet, and then sent to an exchange. That doesn't seem like a particularly ambitious attempt to launder. I must be missing something...
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It really bothers me how often people repeat it like it means anything in this case. Like they forget Amazon was just selling books. Also no idea if it still uses any of the old code or just the name itself.
Jed McCaleb built a beta release of a Magic trading card exchange for the MtGox domain. He then read about bitcoin in a Slashdot article posted on July 11th, 2010 after which he decided to write an exchange. McCaleb insists that the bitcoin exchange was completely different from the Magic cards exchange, but Mt Gox went live as a Bitcoin exchange July 18th, 2010 . So either McCaleb built a brand new exchange from the…
Or he spent some time writing the new service while the previous one was still running.