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Hackers nab $500k as Enigma is compromised weeks before its ICO

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Re: Hackers nab $500k as Enigma is compromised weeks before its ICO

#101

Post by loceng »

beepboopbeep wrote: post #92
che_shirecat wrote: post #56

How to make money in ethereum, from high to low risk: 1. Dump the leftovers of your bi-weekly software engineering paycheck into buying ETH, BTC, or whichever altcoin is popular this week. It went up 5000% in the past, it's got to keep growing right? 2. Participate in an ICO and stock up on whatever platform token they're hawking. It's more profitable if you get in early due to some presale mechanism (hopefully here…

But this is a good thing.

For who? Is it a good thing for everyone? Why, why not?

Re: Hackers nab $500k as Enigma is compromised weeks before its ICO

#103

Post by Grue3 »

notdang wrote: post #55
PeachPlum wrote: post #50

Earlier quoted context omitted.

That's an interesting concept but I can't find anything about it. I found this : http://kv-journal.su/content/vor-u-vora-ukral "the thief stole from the thief" I can't find anything hat related, though I wish I could

Te most used variant is : Вор у вора дубинку украл http://slovarick.ru/211/ However later is more popular what the grandparent wrote: Вор у вора шапку украл

The hat version is probably a result of synthesis with another saying: "the thief's hat is burning" (на воре шапка горит).

Re: Hackers nab $500k as Enigma is compromised weeks before its ICO

#104

Post by DINKDINK »

pavel_lishin wrote: post #88
crypt1d wrote: post #6

This might as well be a scam created by the CEO himself. I mean, who in this 'crypto world' would be stupid enough to use the same, previously compromised, password on all his accounts? P.S. there was a story on reddit (can't find it now unfortunately) about how the attackers tried to deposit the money to Bittrex but luckily someone alerted them and the exchange froze the account. So there is still some hope that fun…

> who in this 'crypto world' would be stupid enough Never attribute to malice what can be explained by stupidity, and never underestimate just how stupid a person can be.

Hanlon's Law

Re: Hackers nab $500k as Enigma is compromised weeks before its ICO

#105

Post by CyberDildonics »

option wrote: post #72
CyberDildonics wrote: post #68

Earlier quoted context omitted.

People keep saying this, but it just isn't true. All you have to do is match transactions with price. It can be done automatically.

A lot of things "can be done". And what is not true? Bitcoin IS considered an asset by the IRS

> bitcoin is probably doomed in US because

a bold prediction, not backed up by what you are saying because:

> to actually legally use it as a money is a huge pain tax-wise

Is not true.

Re: Hackers nab $500k as Enigma is compromised weeks before its ICO

#106

Post by richman777 »

arkitaip wrote: post #80
che_shirecat wrote: post #56

How to make money in ethereum, from high to low risk: 1. Dump the leftovers of your bi-weekly software engineering paycheck into buying ETH, BTC, or whichever altcoin is popular this week. It went up 5000% in the past, it's got to keep growing right? 2. Participate in an ICO and stock up on whatever platform token they're hawking. It's more profitable if you get in early due to some presale mechanism (hopefully here…

turning your comment into a 10-week pdf course as we speak, just gonna pick a theme over ath theme forest brb

Need an advisor?

Re: Hackers nab $500k as Enigma is compromised weeks before its ICO

#107

Post by kazagistar »

pavel_lishin wrote: post #90
ringaroundthetx wrote: post #76

Earlier quoted context omitted.

> I'm not sure I buy the premise that every service needs its own coin. Surely in most cases it would be better to just use the most widely used, most stable coin? The team cannot finance itself without selling a new token These projects don't use equity and there is nothing that will make the equity more valuable as there. There are lots of things that will make their token be more valuable as it is a new commodity.

One thing I don't understand about ICOs is - what do the companies promise their coins to be worth? That is, if I have a Coin from your brand new endeavour - what can I, hypothetically, exchange it for? Do I get a vote in how your company is run? Can I give it back to you in exchange for a product or service later down the line? Or is it just a geegaw for me to put on a shelf, like a printout of a Patreon receipt?

Generally, it'd the second. The coin is supposed to be a preorder, and it's value is thus the value of the service later.

Re: Hackers nab $500k as Enigma is compromised weeks before its ICO

#108

Post by the_stc »

option wrote: post #65

The ICO concept is fundamentally solid and is more efficient then traditional funding sources. What currently lack is the implementation. Both technological and legal frameworks need lots of work, but I bet it'll happen

Really? I hope we will enter a post-ICO era of fundraising. Tokens simply do not make sense in most cases, nor do new chains. In my startup, we're issuing Token-Shares (Blockchain Bearer Shares) that pay dividends[1]. I think something like this will be the future. Let people actually own and share in the profits of the enterprise. The share prices can still 10x or more, so there is still a benefit to early investors. Plus focusing on actual business fundamentals.

1: If you want more blockchainy tech, the dividends get paid into the smart contract owning the shares, automatically.

Re: Hackers nab $500k as Enigma is compromised weeks before its ICO

#109

Post by wickedlogic »

User machine, not blockchain, security will continue to be the biggest risk in all these systems.

With gold for example, stealing the physical assets takes effort, resources, time, equipment, etc.

With digital assets, that is not the case... and our current level of system security is not adequate in the slightest. It is a challenge we are still largely ignoring today, but crypto currencies will require it be fixed, or better-risk-managed at any rate.

(not advocating gold over digital, but people continue to hand wave the actual risks)

Re: Hackers nab $500k as Enigma is compromised weeks before its ICO

#110

Post by Shorel »

tectec wrote: post #22
laumars wrote: post #19

Earlier quoted context omitted.

This is where two factor authentication comes into play. Then you can have something you know (eg password) and something you own (eg phone). I quite like using Google Authenticator for my 2FA.

There are also problems with that: https://news.ycombinator.com/item?id=15068567

That's a cellphone network security issue.

If instead of SMS the 2FA use only a software token generator, then highjacking the cell network would not be a successful attack vector.

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