Czech bitcoin exchange Bitcash.cz hacked, up to 4,000 user wallets emptied

Post by twentysix » Wed, Nov 13, 2013, 5:05 AM UTC

smtddr wrote: post #24

cs702 wrote: post #17

Every new day seems to bring another new Bitcoin scandal -- whether it's a hacked exchange, stolen wallets, frozen funds, collapsed Ponzi schemes, arrested illegal-market operators, or who knows what else. Yet, despite all this, Bitcoin keeps appreciating, recently reaching an all-time high.[1] -- [1] https://blockchain.info/charts/market-price?timespan=all

These stories of hacks & scandals and your link showing increasing-value only increases my desire to buy bitcoin. Also, this wild story[1] makes me want bitcoin too. What if I just want to buy $500 USD worth of bitcoin and just sit on it? Maybe 10 years from now it'll be worth close to a million, or maybe bitcoin will be shutdown and it'll be worth nothing. I think I can risk it. Who's trust-worthy these days if I wa…

Post by etherael » Wed, Nov 13, 2013, 5:51 AM UTC

yahelc wrote: post #68

etherael wrote: post #66

I'm getting somewhat tired of these kinds of stories, the stories and the responses here both follow identical patterns. 1) Security is compromised at an entity that deals somehow with bitcoins. The security of the blockchain remains unimpacted, it is as relevant to the fundamentals of the currency as much as someone getting robbed is relevant to the fundamentals of the fiat currency they were robbed in. 2) Much whin…

re: #1, don't you think it would be newsworthy if someone robbed a bank of all its customers' uninsured deposits? That doesn't really happen commonly, and if it did, it would be huge news.

Post by mithras » Wed, Nov 13, 2013, 6:59 AM UTC

iancarroll wrote: post #42

kumarski wrote: post #41

I think CoinMKT with its verification seems like the only solid place....

I think Mt. Gox, the most reputable exchange, is the only solid place. This sounds like self advertising.

Post by celticninja » Wed, Nov 13, 2013, 9:26 AM UTC

anigbrowl wrote: post #65

mrb wrote: post #30

Earlier quoted context omitted.

Bitcoin continues to appreciate, because positive developments surpass negative ones, by far . In the last week alone: - Winklevosses: Bitcoin worth at least 100 times more: http://www.cnbc.com/id/101190181 - Federal Reserve economist says bitcoin is a remarkable technical achievement: http://www.coindesk.com/federal-reserve-economist-says-bitco... - Shopify (70,000 merchants!) accepts Bitcoin: http://thenextweb.com/…

Don't the Winkelvii have large Bitcoin holdings, whose value they presumably wish to drive upwards? Sorry, but I think this is a case of a market remaining irrational for longer than some people can remain solvent. I don't intend to waste money betting against it, but I'm not impressed. A couple of years ago people were predicting the price of gold was headed for the stars too, and a lot of them have lost money since…

Post by kristianp » Wed, Nov 13, 2013, 9:29 AM UTC

smtddr wrote: post #24

cs702 wrote: post #17

Every new day seems to bring another new Bitcoin scandal -- whether it's a hacked exchange, stolen wallets, frozen funds, collapsed Ponzi schemes, arrested illegal-market operators, or who knows what else. Yet, despite all this, Bitcoin keeps appreciating, recently reaching an all-time high.[1] -- [1] https://blockchain.info/charts/market-price?timespan=all

These stories of hacks & scandals and your link showing increasing-value only increases my desire to buy bitcoin. Also, this wild story[1] makes me want bitcoin too. What if I just want to buy $500 USD worth of bitcoin and just sit on it? Maybe 10 years from now it'll be worth close to a million, or maybe bitcoin will be shutdown and it'll be worth nothing. I think I can risk it. Who's trust-worthy these days if I wa…