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Message
Bitstamp Halts Withdrawls
Posted on 2/11/14 at 1:49 pm
Posted on 2/11/14 at 1:49 pm
Just posting so I can get some entertainment today... 
LINK
quote:
Bitstamp, one of the biggest online Bitcoin exchanges, has suspended withdrawals, the latest setback for the virtual currency following a service disruption at a Tokyo-based exchange last week.
A denial-of-service website attack obstructed Bitstamp’s ability to check account balances, the exchange said in a statement. Customers won’t be able to withdraw funds until a software fix is issued and transactions that failed today and yesterday will be canceled, the company said.
Mt.Gox, the other major online exchange, said on Feb. 7 that it stopped withdrawals because of a technical issue, triggering an 8 percent decline in the value of Bitcoins. The virtual currency was trading at $658.58 at 2:03 p.m. in New York, according to the CoinDesk Bitcoin Price Index, which averages prices from exchanges including Mt.Gox and Bitstamp. Bitcoin is now down about 17 percent since Mt.Gox disclosed its difficulties with customer accounts.
“No funds have been lost and no funds are at risk,” Bitstamp said.
LINK
3
Posted on 2/11/14 at 1:56 pm to Lsut81
So isn't that 2 of the big 3?
Posted on 2/11/14 at 2:00 pm to Lsut81
But, the Nasdaq halts stocks.
-The OT
-The OT
Posted on 2/11/14 at 2:01 pm to Teddy Ruxpin
quote:Yep. Only the exchange based in Russia, btc-e, is still allowing withdrawals.
So isn't that 2 of the big 3?
And a message board associated with that exchange has posts claiming they've been told they can't their money out now due to the exchange researching some "double spending" issues.
Posted on 2/11/14 at 2:08 pm to Teddy Ruxpin
quote:
So isn't that 2 of the big 3?
No clue who the big boys are... Just seems that the "No Bank Holidays, your money whenever you want it" selling point is to shite
Posted on 2/11/14 at 2:12 pm to LSURussian
quote:
And a message board associated with that exchange has posts claiming they've been told they can't their money out now due to the exchange researching some "double spending" issues.
Then apparently nobody can convert? Or is this just the double spenders?
Posted on 2/11/14 at 2:33 pm to Broke
quote:I don't know. I'm only reading a message board associated with the btc-e exchange site so who knows how accurate the posts are on it?
Then apparently nobody can convert? Or is this just the double spenders?
I do know the price of btc on that exchange has dropped for about $690/btc down to $625/btc in the past 2 hours. That may be resulting from the bitstamp no-withdrawals announcement.
This post was edited on 2/11/14 at 3:49 pm
Posted on 2/11/14 at 2:51 pm to LSURussian
This is getting dicey
Posted on 2/11/14 at 3:34 pm to Broke
Another article that popped up
LINK
quote:
Andreas Antonopolous is chief security officer at Blockchain.info, a popular Bitcoin wallet service, and he tells CoinDesk that numerous Bitcoin exchanges are experiencing a "massive and concerted" denial of service attack right now.
This is a type of attack on one's digital real estate in which nefarious hackers bombard servers with junk requests over and over until they become useless. It's akin to filling a glass of water until it overflows.
In Antonopolous' words: "As [Bitcoin] transactions are being created, malformed/parallel transactions are also being created so as to create a fog of confusion over the entire network, which then affects almost every single implementation out there."
In other (simpler) words: this attack may cause Bitcoin to behave weirdly.
He added that no money has actually been lost, as exchanges halt withdrawals as needed in order to keep everything synchronized. One exchange affected by the attack, Bitstamp, sent an email to its customers to that effect.
Antonopolous predicts things will be operating normally in between one and three days.
The attacks come on the heels of popular Bitcoin exchange Mt. Gox having to halt a number of its exchanges as customers withdraw their money and even go so far as to protest outside the company's offices in Japan. Bitcoin's price has taken a big dip since.
LINK
Posted on 2/11/14 at 4:05 pm to Lsut81
My bet is this is actually bitcoin owners doing this manipulation to acquire more bitcoins on the cheap. Think of how Wiki or Josh view bitcoins. This is the future. If you know it's the future and nothing will stop it, why not try to manipulate the market while you still can to acquire market share?
Posted on 2/11/14 at 4:13 pm to C
I'll meet you halfway on that. I believe that there are a relative small amount of "players" in the bitcoin world among an ocean of bit investors and it's those players that manipulate the swings on prices on occasion.
We already know that it doesn't take a huge amount of volume to be suddenly dropped to at least temporarily crater prices and if one were to look at the buy and sell orders on the exchanges, the vast majority are for fractions of a bitcoin at a time.
Mix all that in with the fact that the exchanges can at any time "temporarily suspend" exchanges back to dollars and the price of bitcoin is more or less a mirage. It doesn't matter if it hits 25,000 if you can't get it.
We already know that it doesn't take a huge amount of volume to be suddenly dropped to at least temporarily crater prices and if one were to look at the buy and sell orders on the exchanges, the vast majority are for fractions of a bitcoin at a time.
Mix all that in with the fact that the exchanges can at any time "temporarily suspend" exchanges back to dollars and the price of bitcoin is more or less a mirage. It doesn't matter if it hits 25,000 if you can't get it.
This post was edited on 2/11/14 at 4:15 pm
Posted on 2/11/14 at 4:39 pm to Walking the Earth
Guys, guys. Bitcoin is a community of honest individuals who are invested in the future. NO WAY there is any fraud here.
Posted on 2/11/14 at 4:39 pm to C
quote:
why not try to manipulate the market while you still can to acquire market share?
I guess the question would be, how many times can this be done on an "investment" before the bottom completely falls out? Wouldn't it have to do so at some point?
Posted on 2/11/14 at 4:46 pm to C
quote:
My bet is this is actually bitcoin owners doing this manipulation to acquire more bitcoins on the cheap. Think of how Wiki or Josh view bitcoins. This is the future. If you know it's the future and nothing will stop it, why not try to manipulate the market while you still can to acquire market share?
I think Wiki & Josh are 'true believers' who just want bitcoin (or something like it) to succeed so desperately badly. I don't think that's the kind of person who would do this, because it's damaging to the bitcoin ideal and postponing the day when we can all throw off our shackles of etc etc in favor of the glorious techno-anarchic revolution. This is probably someone more prosaic, like the Russian mafia.
Posted on 2/11/14 at 5:32 pm to LSURussian
quote:
Yep. Only the exchange based in Russia, btc-e, is still allowing withdrawals.
yep, the whole BTC network was getting DDoS'd earlier.
Posted on 2/11/14 at 5:37 pm to LSURussian
quote:
And a message board associated with that exchange has posts claiming they've been told they can't their money out now due to the exchange researching some "double spending" issues.
I transferred about 0.5 BTC in and out of BTC-e last night without any problems. I don't know about today though.
quote:
My bet is this is actually bitcoin owners doing this manipulation to acquire more bitcoins on the cheap.
I would bet that this is the case. There's a constant on the crypto exchanges, and it's manipulation. Happens all most nonstop. Whether it's some small obscure coin that hardly has any volume(the best because you get the largest percentage gains) all the way up to bitcoin.
This post was edited on 2/11/14 at 5:41 pm
Posted on 2/11/14 at 8:48 pm to brucevilanch
Buttcoin User Unaffected
Posted on 2/11/14 at 9:30 pm to Vols&Shaft83
I miss the butt coin threads
Posted on 2/11/14 at 9:38 pm to LSURussian
quote:
I don't know. I'm only reading a message board associated with the btc-e exchange site so who knows how accurate the posts are on it?
Wiki has told you about the troll box multiple times, when are you going to realize it is the troll box?
Posted on 2/11/14 at 9:40 pm to Cold Cous Cous
quote:
techno-anarchic revolution
The term that has been used is cryptoanarchy for future reference.
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