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CoinDash’s ICO Website Has Been Hacked

financemagnates.com

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Re: CoinDash’s ICO Website Has Been Hacked

#81

Post by ericfrederich »

AsyncAwait wrote: post #6

This seems to be the same problem that many open-source projects have, where the md5 hash to verify your download is at a single, (often the same) location. One possible solution would be to use Twitter pinned tweet to also announce the address, however it's questionable how many people would actually cross check.

I always found that fascinating myself, serving the download and checksum from the same source.

Doesn't http have enough redundancy checks built in to make this pointless? The only time to really do a checksum isn't on a browser download, it's when you push it over some serial connection, or android adb or something else.

Re: CoinDash’s ICO Website Has Been Hacked

#82

Post by bsurmanski »

davnicwil wrote: post #41
nikolay wrote: post #16

Where's the news?! Why do people continue to bang heads against the wall with this madness? Unless you're a thief, how is the craptocurrency thing better than my credit card that's insured from unauthorized use and gives me a cash back?! Yeah, you can't speculate with credit cards, and get rich quick, because $1 = $1 like forever, but isn't that what the real investment tools are for?

Just to pick up on this one small point: as I understand it, the cashback you get with a credit card is more or less taken straight from the card processing fee charged to the vendor, which of course, raises prices overall and is therefore not really cashback at all. Without the fee, you would likely have just paid a lower price in the first place. The only party benefitting from the cashback scheme is, of course, th…

But do they eliminate the middleman? At least for Bitcoin, it takes an hour for any confidence that a transaction is truly valid. I'm not going to wait around for an hour just to grab my morning coffee.

So obviously there's going to need to be a credit backed middle man to guarantee your transaction so the seller doesn't get screwed by a double spend.

Eth is slightly better, but it still takes something on the order of 10m to confirm a transaction, and it doesn't look like it can get anywhere near the speed needed for a coffee purchase.

Re: CoinDash’s ICO Website Has Been Hacked

#83

Post by immad »

option_greek wrote: post #36
ty_a wrote: post #17

For anyone wondering, 45k ETH is about 7.65M USD.

I wonder what happens if someone wants to liquidate this amount to USD immediately. Has ether got enough liquidity to handle it :)

Yes, Ether has $1.5bn in trading volume for the last 24 hours [1].

1: http://coinmarketcap.com

Re: CoinDash’s ICO Website Has Been Hacked

#85

Post by endless1234 »

root_axis wrote: post #77
davnicwil wrote: post #41

Earlier quoted context omitted.

Just to pick up on this one small point: as I understand it, the cashback you get with a credit card is more or less taken straight from the card processing fee charged to the vendor, which of course, raises prices overall and is therefore not really cashback at all. Without the fee, you would likely have just paid a lower price in the first place. The only party benefitting from the cashback scheme is, of course, th…

As someone who ran a gas station convenience store for six years, I can tell you that this is not a universal truth. We did require a minimum purchase amount to accept cards, but we most certainly did not raise our prices in response to credit card fees.

So there's a party that takes n% of a big percentage of your purchases, yet that doesn't affect the prices? How?

Re: CoinDash’s ICO Website Has Been Hacked

#87

Post by klodolph »

mhluongo wrote: post #50
klodolph wrote: post #34

Earlier quoted context omitted.

Meanwhile, a June 2017 ethereum is 2 etherium in July 2017 ethereum…

It's not. If you're trying to say it can be used as a unit of account, well.. okay, but same for the dollar. But it's inflationary on top of the obvious speculative swings, versus eg Bitcoin that's got a capped supplY. EDIT: misread! Obviously ETH lost a lot of value.

I'm not sure what you mean by "it's not". Are you saying that ethereum was not twice as valuable a month ago? Or something else? I don't know how this would be connected with whether it can be used as a unit of account—obviously ethereum is only really used as a unit of account for ethereum contracts, due to its volatility.

Re: CoinDash’s ICO Website Has Been Hacked

#88

Post by jonknee »

davnicwil wrote: post #41
nikolay wrote: post #16

Where's the news?! Why do people continue to bang heads against the wall with this madness? Unless you're a thief, how is the craptocurrency thing better than my credit card that's insured from unauthorized use and gives me a cash back?! Yeah, you can't speculate with credit cards, and get rich quick, because $1 = $1 like forever, but isn't that what the real investment tools are for?

Just to pick up on this one small point: as I understand it, the cashback you get with a credit card is more or less taken straight from the card processing fee charged to the vendor, which of course, raises prices overall and is therefore not really cashback at all. Without the fee, you would likely have just paid a lower price in the first place. The only party benefitting from the cashback scheme is, of course, th…

In this case the middleman actually provides a very valuable service--fraud protection.

Re: CoinDash’s ICO Website Has Been Hacked

#89

Post by RegulatoryRoger »

nikolay wrote: post #16

Where's the news?! Why do people continue to bang heads against the wall with this madness? Unless you're a thief, how is the craptocurrency thing better than my credit card that's insured from unauthorized use and gives me a cash back?! Yeah, you can't speculate with credit cards, and get rich quick, because $1 = $1 like forever, but isn't that what the real investment tools are for?

It's better if you're buying heroin online

Re: CoinDash’s ICO Website Has Been Hacked

#90

Post by davnicwil »

seanalltogether wrote: post #68
davnicwil wrote: post #41

Earlier quoted context omitted.

Just to pick up on this one small point: as I understand it, the cashback you get with a credit card is more or less taken straight from the card processing fee charged to the vendor, which of course, raises prices overall and is therefore not really cashback at all. Without the fee, you would likely have just paid a lower price in the first place. The only party benefitting from the cashback scheme is, of course, th…

> One of the hugely compelling benefits of cryptocurrencies is they entirely eliminate the necessity for such middlemen taking a cut and driving up costs for the parties actually partaking in the transaction. Don't all bitcoin transactions require a transaction fee in order to get processed these days?

Yes. There is no such thing as a free transaction, because payment methods and networks take work to administrate. I mean, take cash. It's expensive to make, to process, to transport, to safely store. These costs are, obviously, passed on to the users of cash in the aggregate.

Cryptocurrency transaction fees are just very direct, but it's the same deal. The difference is that clearly inefficient transaction costs, like centralised middlemen with limited competition skimming a cut from all transactions, can be eliminated. Remember that bitcoin transaction fees are a completely open market.

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