The investor group Sunlot has succeeded with their plan of keeping Mt.Gox running while reimbursing former losses through trade profits. The investors are mainly based in the US and Cananda.
It is Sunlots stated goal to immediately re-distribute the remaining assets among the 127,000 affected customers. The the about 50.000 customers who had significant losses, around 200 million dollars acording to Sunlot, the company offers shares and dividends of future revenue. (Source)
The Bitcoin exchange rate takes the good news with a little rise and international news about Bitcoin ventures do not stop. From ATM's over mobile solutions to the spread of acceptance - Bitcoin is still having a great response from the public.
If you want some too, join us at the Coin-inc Bitcoin Surfbar and collect some free Bitcoin.
See you soon forum!
Tim
Wednesday, April 30, 2014
Thursday, April 24, 2014
Mt.Gox bankruptcy liquidation going ahead, trustee's pledge for patience
Hi forum!
A Tokyo court has ordered the liquidation of Mt.Gox to proceed against the wishes of former investors who made a last-minute effort in April to take over Mt.Gox and pay it's debts from future trade-profits.
According to the bankruptcy administrator, attorney Nobuaki Kobayashi, an investigation into Mark Karpales role and liability regarding the missing funds is also part of the liquidation process.
On July 23rd. a creditors meeting is said to take place according to officially released documents. And further notices are said to be published on the Mt.Gox website. (Source)
It seems at least closure is around the corner. Even though the whole story is still good for surprises.
Stay with us as we follow the news!
As always, when the exchange rate drops, payout rates rise in our Bitcoin surfbar ;-)
Collect now and profit big when the price rises again.
See you soon forum!
Regards,
Tim
A Tokyo court has ordered the liquidation of Mt.Gox to proceed against the wishes of former investors who made a last-minute effort in April to take over Mt.Gox and pay it's debts from future trade-profits.
According to the bankruptcy administrator, attorney Nobuaki Kobayashi, an investigation into Mark Karpales role and liability regarding the missing funds is also part of the liquidation process.
On July 23rd. a creditors meeting is said to take place according to officially released documents. And further notices are said to be published on the Mt.Gox website. (Source)
It seems at least closure is around the corner. Even though the whole story is still good for surprises.
Stay with us as we follow the news!
As always, when the exchange rate drops, payout rates rise in our Bitcoin surfbar ;-)
Collect now and profit big when the price rises again.
See you soon forum!
Regards,
Tim
Sunday, April 20, 2014
Mt.Gox Userbase tries to rescue the exchange, Banks try use the situation lobbying for regulations on Bitcoin
Hi dear forum!
I hope you are well and not too affected by the roller-coaster which is the Bitcoin story at present.
Shortly after Mt.Gox declared bankruptcy, 200.000 Bitcoin were re-discovered in an old wallet..., and Mark Karpeles the french former CEO of Mt.Gox has refused to attend any hearings in the US fearing his arrest should he show up. A about 13 years ago this would have looked awfully like an attempt to wiggle out after cheating users of their cash.
Thirteen years change a lot. Thirteen years changed our trust into Capitalism into healthy mistrust, changed our savings amounts to being worth less than before, and they have certainly changed human relations.
I am not informed about particular areas where you might live, yet in general it becomes really hard for people to organize basics such as a roof above the head, food and care for your family and maybe even a car. If you have been in the unfortunate position to owe money to an organization or bank, everyday life may become somewhat a chore.
The Stigmata attached to the problem are almost worse. Have you ever looked at a homeless person thinking: "Bloody banks f*cked him/her up good..."?
Probably not.
Yet millions of people loose their house while a few fat social parasites get bonuses for bowing deep enough when asking for governmental bailout. Which was paid from your money, be sure.
What a blessing it would be, if some people remembered their rights and asked their elected leaders on how they intend to rectify this wrongful flow of unreasoned funds?
To big to fail... what is this? And when is the number of individuals to big to fail? A handful of banks deserves to be saved, yet millions of us sit back and enjoy the show.
Now, after these 13 years, the whole Mt.Gox story seems either like an orchestrated attack with masterplan against Mt.Gox, a shady story with dark patches and maybe internal intrigue, the not so intelligent attempt of a few to line their pockets or even the possibility i described at the beginning. It just does not seem so likely anymore...
It does not look like the Mt.Gox is going to end soon, yet it is unlikely to spawn a battle as with Kim Schmitz. Yet the latter has several charges against him in the US and still roams free.
In the meantime banks try surfing on the wave of grief over lost funds while pushing legislation for regulation on Bitcoin. Probably aiming on giving them the control over the trade into fiat currency which would make anonymity again a plaything of the rich and powerful.
There are words for people who protect what would like to have and not only what they own: Despot, Tyrant, Thief, Warmonger, Murderer.
The state of New York has already drafted a bill on Bitcoin regulation as they proudly pronounced when the rest of the financial world murmured such a plan. How handy...
Ah... banks... always on the lookout for other peoples money.
In case this sounds like a depressing start into the week - Lighten up! It can only get better.
If not, at least you learn how it feels if you want to topple your gov.
Free money - no such thing. Yet i can offer you free Bitcoin! Visit our Bitcoin surfbar and collect free Bitcoin 24/7. With little effort you will gain thousands of dollars worth of pocket money.
Back soon with more news!
See you soon forum.
Regards, Tim
I hope you are well and not too affected by the roller-coaster which is the Bitcoin story at present.
Shortly after Mt.Gox declared bankruptcy, 200.000 Bitcoin were re-discovered in an old wallet..., and Mark Karpeles the french former CEO of Mt.Gox has refused to attend any hearings in the US fearing his arrest should he show up. A about 13 years ago this would have looked awfully like an attempt to wiggle out after cheating users of their cash.
Thirteen years change a lot. Thirteen years changed our trust into Capitalism into healthy mistrust, changed our savings amounts to being worth less than before, and they have certainly changed human relations.
I am not informed about particular areas where you might live, yet in general it becomes really hard for people to organize basics such as a roof above the head, food and care for your family and maybe even a car. If you have been in the unfortunate position to owe money to an organization or bank, everyday life may become somewhat a chore.
The Stigmata attached to the problem are almost worse. Have you ever looked at a homeless person thinking: "Bloody banks f*cked him/her up good..."?
Probably not.
Yet millions of people loose their house while a few fat social parasites get bonuses for bowing deep enough when asking for governmental bailout. Which was paid from your money, be sure.
What a blessing it would be, if some people remembered their rights and asked their elected leaders on how they intend to rectify this wrongful flow of unreasoned funds?
To big to fail... what is this? And when is the number of individuals to big to fail? A handful of banks deserves to be saved, yet millions of us sit back and enjoy the show.
Now, after these 13 years, the whole Mt.Gox story seems either like an orchestrated attack with masterplan against Mt.Gox, a shady story with dark patches and maybe internal intrigue, the not so intelligent attempt of a few to line their pockets or even the possibility i described at the beginning. It just does not seem so likely anymore...
It does not look like the Mt.Gox is going to end soon, yet it is unlikely to spawn a battle as with Kim Schmitz. Yet the latter has several charges against him in the US and still roams free.
In the meantime banks try surfing on the wave of grief over lost funds while pushing legislation for regulation on Bitcoin. Probably aiming on giving them the control over the trade into fiat currency which would make anonymity again a plaything of the rich and powerful.
There are words for people who protect what would like to have and not only what they own: Despot, Tyrant, Thief, Warmonger, Murderer.
The state of New York has already drafted a bill on Bitcoin regulation as they proudly pronounced when the rest of the financial world murmured such a plan. How handy...
Ah... banks... always on the lookout for other peoples money.
In case this sounds like a depressing start into the week - Lighten up! It can only get better.
If not, at least you learn how it feels if you want to topple your gov.
Free money - no such thing. Yet i can offer you free Bitcoin! Visit our Bitcoin surfbar and collect free Bitcoin 24/7. With little effort you will gain thousands of dollars worth of pocket money.
Back soon with more news!
See you soon forum.
Regards, Tim
Saturday, April 5, 2014
Bitcoin standing tall after recent scandals - community as busy as ever
Hello dear forum!
Bitcoin took a serious dive since the Christmas days last year. From 1200$ to now about 450$. But here's the thing. It's still 450$US in exchange! The exchange rate is now oscillating between 420 and 500 dollars but it very much looks like the descent is pretty much over.
We're happy to see that most businesses accepting Bitcoin are still in business and wish the community all the best. We too had to remove some unfortunate faucets from our surfbar but coin-inc.com still features a total of 84 active faucets for you. Free Bitcoin non-stop. If you have not checked it out yet, it's time to take a look.
Be smart and collect Bitcoin now while you get a lot, then spend it when the rates go up again. I can tell from experience that this is very gratifying ;-)
International Bitcoin go on as we speak but no new law on the way yet (at least not at the time of writing).
I wish you all happy collecting, and see you soon!
Tim
Bitcoin took a serious dive since the Christmas days last year. From 1200$ to now about 450$. But here's the thing. It's still 450$US in exchange! The exchange rate is now oscillating between 420 and 500 dollars but it very much looks like the descent is pretty much over.
We're happy to see that most businesses accepting Bitcoin are still in business and wish the community all the best. We too had to remove some unfortunate faucets from our surfbar but coin-inc.com still features a total of 84 active faucets for you. Free Bitcoin non-stop. If you have not checked it out yet, it's time to take a look.
Bitcoin Surfbar (80+ active faucets!!!)
Some of the faucets you find in our surfbar hold additional rewards and cashbacks for users who sign up as coin-inc referral. Earn up to 10% more free money! Our loyalty reward program for you.Be smart and collect Bitcoin now while you get a lot, then spend it when the rates go up again. I can tell from experience that this is very gratifying ;-)
International Bitcoin go on as we speak but no new law on the way yet (at least not at the time of writing).
I wish you all happy collecting, and see you soon!
Tim
Wednesday, April 2, 2014
Mysteries over Mt.Gox bankruptcy won't ebb away as 'old wallets' and protocol discrepancies are revealed - Bitcoin market not overly shaken even though more bankruptcies and hacks are made public
Dear forum!
What a turbulent last month. Mt.Gox is down for good this time with the responsible people being questioned in the US for multiple allegations. That plus the bankruptcy case it filed in Japan and other countries the exchange had funds.
That could have been it and nobody would given a literal sh*t (except the people who lost money on Mt.Gox - no disrespect was meant.) - but hey... a Bitcoin story without excitement twists and turns and more questions than answers that could fit in a newspaper and everybody would understand immediately? Nah!
Shortly after Mt.Gox announced the alleged theft of 854000 of their managed Bitcoins, an "old service wallet" was discovered containing 200000 Bitcoin. Given that Mt.Gox stated a loss of 100000 of their own Bitcoin the 200 grand seem to be an odd number. Speculations are abundant and we have our own ideas about this occurance, but we don't want to judge anybody as long this fund loss is still investigated.(Source)
If that was not weird enough, 2 swiss guys published a paper in which they claim that they have recreated Mt.Gox transactions logged in the blogchain from the timeframe stated by Mt.Gox as the time of attacks. According to the still unconfirmed paper Mt.Gox could only have lost a total of 345 Bitcoin in the stated timeframe through the transaction malleability exploit. (Source)
I am sure more weird discoveries await us in terms of Mt.Gox.
Meanwhile the rest of the planet is divided as whether Bitcoin is a currency or not and most states now opted for a treatment like it is place for stockmarket exchange shares where taxes depend on the time between trades where profits become tax free if the Bitcoin amount in question is held for 12-16 months (time frames vary from country to country).
It seems the world has understood that one or the other crypto-currency will always survive, it might as well be Bitcoin. If it will be Bitcoin surviving the battle though isn't sure.
Time, ease of use and application range for the user will tell which protocol will satisfy its users best.
By the way - the decreased exchange rate has the splendid side effect that the Bitcoin amounts paid are getting higher ;-)
Visit coin-inc.com to find the best offers and our handy Bitcoin surf bar.
See you soon forum!
Yours, Tim
What a turbulent last month. Mt.Gox is down for good this time with the responsible people being questioned in the US for multiple allegations. That plus the bankruptcy case it filed in Japan and other countries the exchange had funds.
That could have been it and nobody would given a literal sh*t (except the people who lost money on Mt.Gox - no disrespect was meant.) - but hey... a Bitcoin story without excitement twists and turns and more questions than answers that could fit in a newspaper and everybody would understand immediately? Nah!
Shortly after Mt.Gox announced the alleged theft of 854000 of their managed Bitcoins, an "old service wallet" was discovered containing 200000 Bitcoin. Given that Mt.Gox stated a loss of 100000 of their own Bitcoin the 200 grand seem to be an odd number. Speculations are abundant and we have our own ideas about this occurance, but we don't want to judge anybody as long this fund loss is still investigated.(Source)
If that was not weird enough, 2 swiss guys published a paper in which they claim that they have recreated Mt.Gox transactions logged in the blogchain from the timeframe stated by Mt.Gox as the time of attacks. According to the still unconfirmed paper Mt.Gox could only have lost a total of 345 Bitcoin in the stated timeframe through the transaction malleability exploit. (Source)
I am sure more weird discoveries await us in terms of Mt.Gox.
Meanwhile the rest of the planet is divided as whether Bitcoin is a currency or not and most states now opted for a treatment like it is place for stockmarket exchange shares where taxes depend on the time between trades where profits become tax free if the Bitcoin amount in question is held for 12-16 months (time frames vary from country to country).
It seems the world has understood that one or the other crypto-currency will always survive, it might as well be Bitcoin. If it will be Bitcoin surviving the battle though isn't sure.
Time, ease of use and application range for the user will tell which protocol will satisfy its users best.
By the way - the decreased exchange rate has the splendid side effect that the Bitcoin amounts paid are getting higher ;-)
Visit coin-inc.com to find the best offers and our handy Bitcoin surf bar.
See you soon forum!
Yours, Tim
Saturday, March 1, 2014
Mt.Gox files for bankruptcy and faces a possible lawsuit for tax evasion
Hi dear forum!
The last days have been troublesome for a few people, and not only the ones investing or trading on Mt.Gox. All sorts of ill-informed news have hit me through the overheard conversations of the last week. One of the best went as far as to state that "Bitcoins have vanished from the internet, or something".
As for the facts. There have been attacks on bitcoin daemon running servers in which on one hand the attackers attempted to slow down and max out the servers resources by any means plus the injection of wrong transaction ids into legitimate transfers. The result was the expected movement of bitcoins but a later denial of the transaction within the blockchain as it did not fit the log.
Means; Bitcoin gone, transaction never recorded.
Now this is known since about 2011 - i wrote about it in former articles - and in user applications of Bitcoin the "bug" is accounted for, whereas the owners of a server with a bitcoin daemon must implement most of these fixes themselves.
And that is not the only thing you can do with a bitcoin daemon. It supports a massive option catalog to run and organize myriads of open and private wallets and their interaction.
What has happened on Mt.Gox was that the formerly described exploit did meet a heavily customized Bitcoin daemon and lightened it by about 850.000 Bitcoin in total. (source)
It came to the point where the responsible people at Mt.Gox reportedly discovered a gaping hole of 2.8 billion Yen (~28 million Euro) in their finances. The companies lawyer though has not yet made any comments to holdings of the company in foreign locations or currencies.
Taking anybodies thoughts ahead; if it is/was a self-perpetrated heist: respect ;-) else, if not don't forget the Bitcoin market is bigger than Mt.Gox and that peoples values have indeed been stolen by a third party with (most likely) evil intentions. So please don't bash Bitcoin for your loss. If you should or should not make your anger known towards Mt.Gox is another thing. But given that it will probably only cost you time and more money moving on might be the right thing to do. By the off-chance you now think of me as a cock; how much money did you ever get back by whining about its loss? There you go.
If you count out the deadly wounded Gox and the fear-ridden sheep on localbitcoin the course is dancing between 550 and 600 $US at current (favorite source remains bitstamp as they trade the highest volume at present).
Let's see where the story leads. I will definitely keep you updated. I really do hope they can find the fraudulent transactions in Gox's logs, as the coin itself will remain traceable to other addresses that where used to distribute it.
I related news there has been a thieving bit of malware found in cracked osx apps. This presented us initially with a two edged blade, but after learning that the exploit code is hidden in apps like "Angry Birds" we do rather condemn the stingy people who think they need an apple and don't have the 2 dollars for a bird throwing app. You have no right to complain or be bewildered if you find out that pirated software contained an Easter egg you did not expect.
On the other hand - If former mentioned Apple provides the world with a zero-day-exploit for up to 5 days long - rage is very well in order. If any of you has an idea how to thank Apple that they turned your comp into a paperweight for a week - the comment section is open to you.
I fear thats all for now, but we'll be back soon.
Best regards,
Tim
The last days have been troublesome for a few people, and not only the ones investing or trading on Mt.Gox. All sorts of ill-informed news have hit me through the overheard conversations of the last week. One of the best went as far as to state that "Bitcoins have vanished from the internet, or something".
As for the facts. There have been attacks on bitcoin daemon running servers in which on one hand the attackers attempted to slow down and max out the servers resources by any means plus the injection of wrong transaction ids into legitimate transfers. The result was the expected movement of bitcoins but a later denial of the transaction within the blockchain as it did not fit the log.
Means; Bitcoin gone, transaction never recorded.
Now this is known since about 2011 - i wrote about it in former articles - and in user applications of Bitcoin the "bug" is accounted for, whereas the owners of a server with a bitcoin daemon must implement most of these fixes themselves.
And that is not the only thing you can do with a bitcoin daemon. It supports a massive option catalog to run and organize myriads of open and private wallets and their interaction.
What has happened on Mt.Gox was that the formerly described exploit did meet a heavily customized Bitcoin daemon and lightened it by about 850.000 Bitcoin in total. (source)
It came to the point where the responsible people at Mt.Gox reportedly discovered a gaping hole of 2.8 billion Yen (~28 million Euro) in their finances. The companies lawyer though has not yet made any comments to holdings of the company in foreign locations or currencies.
Taking anybodies thoughts ahead; if it is/was a self-perpetrated heist: respect ;-) else, if not don't forget the Bitcoin market is bigger than Mt.Gox and that peoples values have indeed been stolen by a third party with (most likely) evil intentions. So please don't bash Bitcoin for your loss. If you should or should not make your anger known towards Mt.Gox is another thing. But given that it will probably only cost you time and more money moving on might be the right thing to do. By the off-chance you now think of me as a cock; how much money did you ever get back by whining about its loss? There you go.
If you count out the deadly wounded Gox and the fear-ridden sheep on localbitcoin the course is dancing between 550 and 600 $US at current (favorite source remains bitstamp as they trade the highest volume at present).
Let's see where the story leads. I will definitely keep you updated. I really do hope they can find the fraudulent transactions in Gox's logs, as the coin itself will remain traceable to other addresses that where used to distribute it.
I related news there has been a thieving bit of malware found in cracked osx apps. This presented us initially with a two edged blade, but after learning that the exploit code is hidden in apps like "Angry Birds" we do rather condemn the stingy people who think they need an apple and don't have the 2 dollars for a bird throwing app. You have no right to complain or be bewildered if you find out that pirated software contained an Easter egg you did not expect.
On the other hand - If former mentioned Apple provides the world with a zero-day-exploit for up to 5 days long - rage is very well in order. If any of you has an idea how to thank Apple that they turned your comp into a paperweight for a week - the comment section is open to you.
I fear thats all for now, but we'll be back soon.
Best regards,
Tim
Friday, February 21, 2014
Free Bitcoin grows in abundance as the exchange rate becomes more moderate. How to earn free money with Bitcoin give-aways
Hi forum!
A quick update for this week on the Bitcoin collector; more than 10 new faucets added with a current total of 77 Bitcoin Faucets in the Collector!
More will be added in the coming days after their payouts have been confirmed. Hopefully we will get close to 90.
From active research i can safely assure you that there is no other list as up to date as the coin-inc bitcoin collector. As you will surely come accross one or the other list you may compare them yourself. And in the future you can save time by letting coin-inc do all the work for you.
Don't miss chances of becoming our referral if possible as we offer cashback programs where possible. Payments are done each sunday.
If you know of an active bitcoin faucet please leave it in the comments in this blog, we will see to add it into the collector.
As always; happy collecting!
See you soon forum!
regards,
Tim
A quick update for this week on the Bitcoin collector; more than 10 new faucets added with a current total of 77 Bitcoin Faucets in the Collector!
More will be added in the coming days after their payouts have been confirmed. Hopefully we will get close to 90.
From active research i can safely assure you that there is no other list as up to date as the coin-inc bitcoin collector. As you will surely come accross one or the other list you may compare them yourself. And in the future you can save time by letting coin-inc do all the work for you.
Don't miss chances of becoming our referral if possible as we offer cashback programs where possible. Payments are done each sunday.
If you know of an active bitcoin faucet please leave it in the comments in this blog, we will see to add it into the collector.
As always; happy collecting!
See you soon forum!
regards,
Tim
Mt.Gox has left the building - things are looking bleak for the first really successful bitcoin exchange
Even though Mt.Gox has lost major market shares during the last years, a significant amount has still been traded on the japan based exchange (source).
Many of the people who came to Japan to find out more about how they could access their funds instead found out that Mt.Gox had in fact moved office with all its entourage.
The company claims working on the problem has become impossible in the old location, due to which reason they have not released at the time of writing.
Naturally this sort of secrecy is not taken too well by the market and the exchange rate on Mt.Gox seems to plummet without end. While typing this it rates at about 150$ US which is a long way of the 570$ US that Bitstamp would pay.
I hope you do not belong to the users of Mt.Gox that have their funds seized, and if you do, hopefully the situation will be resolved soon.
I will keep you updated as the news come in.
In the meantime you're welcome to collect some free Bitcoin with us at www.coin-inc.com
See you soon forum!
Tim
Many of the people who came to Japan to find out more about how they could access their funds instead found out that Mt.Gox had in fact moved office with all its entourage.
The company claims working on the problem has become impossible in the old location, due to which reason they have not released at the time of writing.
Naturally this sort of secrecy is not taken too well by the market and the exchange rate on Mt.Gox seems to plummet without end. While typing this it rates at about 150$ US which is a long way of the 570$ US that Bitstamp would pay.
I hope you do not belong to the users of Mt.Gox that have their funds seized, and if you do, hopefully the situation will be resolved soon.
I will keep you updated as the news come in.
In the meantime you're welcome to collect some free Bitcoin with us at www.coin-inc.com
See you soon forum!
Tim
Thursday, February 20, 2014
All new free Bitcoin faucets for you!
Hi forum!
I hope you are well and no harm came to you during the recent ddos attacks. We had our own visitors but can't reveal details yet as the investigation is ongoing. The possible exploit that was targeted has been fixed.
To end this 2014 February i can give you 3 newly added faucets at coin-inc.com.
One in particular is very interesting as they pay up to 0.025mBtc per game!!! Which is every hour - so, get collecting ;-)
The amounts to collect get larger as the price drops at some of the faucets. Namely at CoinAd. Currently most of their ads pay 10 times what other faucets pay. If others tune in we will update you here.
And of course we still offer additional 10-15% on faucet payouts if you register as our referral on FreeBitcoin.
We have also implemented an archive for btc rates of all currently running exchanges. In weekly intervals we log the movements of exchange rates, market volumes and bitcoin exchange activity for you ;-)
Happy collecting!
See you soon forum!
Tim
I hope you are well and no harm came to you during the recent ddos attacks. We had our own visitors but can't reveal details yet as the investigation is ongoing. The possible exploit that was targeted has been fixed.
To end this 2014 February i can give you 3 newly added faucets at coin-inc.com.
One in particular is very interesting as they pay up to 0.025mBtc per game!!! Which is every hour - so, get collecting ;-)
The amounts to collect get larger as the price drops at some of the faucets. Namely at CoinAd. Currently most of their ads pay 10 times what other faucets pay. If others tune in we will update you here.
And of course we still offer additional 10-15% on faucet payouts if you register as our referral on FreeBitcoin.
We have also implemented an archive for btc rates of all currently running exchanges. In weekly intervals we log the movements of exchange rates, market volumes and bitcoin exchange activity for you ;-)
Happy collecting!
See you soon forum!
Tim
Tuesday, February 11, 2014
DDOS attacks on Bitcoin exchanges as explonation for the transaction stops
Good morning forum!
What was formerly believed to be an internal error of Mt.Gox Bitcoind application could actually be a widespread attack on major exchanges. Bitstamp has released a statement in which they explain the suspended transaction with a DDOS attack which targets the transaction ids before being confirmed by the blockchain.
Mt.Gox has made no statement to at this point but given that Bitstamp holds about 10% more market-share we can safely assume the attack as the most probable cause for Mt.Gox initial errors.
Bitstamp has also anounced to have a fix ready soon and that no funds have been lost or misguided.
The attacked bug or exploit is actually known since 2011 and has lead to a situation at the time where for six hours two alternate versions of the blockchain existed. Since then there was a lot of work to eradicate this happening. Falsifying Bitcoin transactions this way would need processing power in super-computer terms as you would also to manipulate every subsequent transaction that builds on the one you originally faked. While this would be theoretically possible, the practical barriers to such an undertaking are to steep to reason them with a probable profit of a couple of million dollars. Especially when said actions lead to further loss in worth of the stolen good.
Much more likely is attempted stalling or sabotage of protocol - as sad as it sounds. Enemies are manifold and so it may even be that you are witnessing the secret appendixes of Russia's recent ruling making Bitcoin illegal there. It would certainly befit the new Zar and i feel awkward giving all the credit the NSA.
However, given the effort needed to bring down Bitcoin there is little to no chance it would succeed. Plus, an attack can be dealt with.
I will keep you updated as the situation progesses!
See you soon forum!
Tim
What was formerly believed to be an internal error of Mt.Gox Bitcoind application could actually be a widespread attack on major exchanges. Bitstamp has released a statement in which they explain the suspended transaction with a DDOS attack which targets the transaction ids before being confirmed by the blockchain.
Mt.Gox has made no statement to at this point but given that Bitstamp holds about 10% more market-share we can safely assume the attack as the most probable cause for Mt.Gox initial errors.
Bitstamp has also anounced to have a fix ready soon and that no funds have been lost or misguided.
The attacked bug or exploit is actually known since 2011 and has lead to a situation at the time where for six hours two alternate versions of the blockchain existed. Since then there was a lot of work to eradicate this happening. Falsifying Bitcoin transactions this way would need processing power in super-computer terms as you would also to manipulate every subsequent transaction that builds on the one you originally faked. While this would be theoretically possible, the practical barriers to such an undertaking are to steep to reason them with a probable profit of a couple of million dollars. Especially when said actions lead to further loss in worth of the stolen good.
Much more likely is attempted stalling or sabotage of protocol - as sad as it sounds. Enemies are manifold and so it may even be that you are witnessing the secret appendixes of Russia's recent ruling making Bitcoin illegal there. It would certainly befit the new Zar and i feel awkward giving all the credit the NSA.
However, given the effort needed to bring down Bitcoin there is little to no chance it would succeed. Plus, an attack can be dealt with.
I will keep you updated as the situation progesses!
See you soon forum!
Tim
Monday, February 10, 2014
Dear Forum! No panic advised as Bitcoin plunges in early fevruary 2014! Modified Mt.Gox wallet allows modiefied transaction hashes
Dear Forum!
As the bitcoin exchange rate plunges beneath 600 USD again i would like to add a few words myself. You could read it at bloomberg, but i somehow guess thats not why you are here (Source).
The reason for the drop has been a possible exploit in the modified wallet daemon of the Mt.Gox exchange. Apparently is was/is possible to change the Hashes of a transaction thus marking said transaction as invalid for the rest of the system. The problem is apparently known since 2011 (Source) and has been addressed in current wallet applications. The described problem is the possibility to change the transaction id before the transaction is getting acknowledged by other nodes.
So it does not wonder that Mt.Gox is blamed directly, and their wallet application is named as the source of the trouble (Source).
I urge you not to loose confidence or sell your coins in panic! Bitcoin is still experimental (so are all the other "coins" out there - don't forget) and the occurring problems are usually swiftly dealt with by a very active developer community.
So don't forget; Gox can't pay at present, but they only hold about 20% of market share. Don't let the 20% drive you to participate in the panic affecting all.
If you have been so tactical that you need the cash you wold gain from the coins then we have some future advice:
- Don't design your earning model to revolve solemnly on Bitcoin
- Spread out your funds between exchanges and wallets to minimize chances of theft or however caused inflation (it may be confined to the operator)
- Choose a conversion model that does not out to much. We have noticed a few other exchanges and currencies that have shown almost no sign of the Mt.Gox trouble. Ripple for example shows a stable rate and allows trading into fiat currencies as well.
So don't be alarmed by the current drop of Bitcoin value. It's one black sheep and their handling of the software that caused this.
See you soon!
Tim
As the bitcoin exchange rate plunges beneath 600 USD again i would like to add a few words myself. You could read it at bloomberg, but i somehow guess thats not why you are here (Source).
The reason for the drop has been a possible exploit in the modified wallet daemon of the Mt.Gox exchange. Apparently is was/is possible to change the Hashes of a transaction thus marking said transaction as invalid for the rest of the system. The problem is apparently known since 2011 (Source) and has been addressed in current wallet applications. The described problem is the possibility to change the transaction id before the transaction is getting acknowledged by other nodes.
So it does not wonder that Mt.Gox is blamed directly, and their wallet application is named as the source of the trouble (Source).
I urge you not to loose confidence or sell your coins in panic! Bitcoin is still experimental (so are all the other "coins" out there - don't forget) and the occurring problems are usually swiftly dealt with by a very active developer community.
So don't forget; Gox can't pay at present, but they only hold about 20% of market share. Don't let the 20% drive you to participate in the panic affecting all.
If you have been so tactical that you need the cash you wold gain from the coins then we have some future advice:
- Don't design your earning model to revolve solemnly on Bitcoin
- Spread out your funds between exchanges and wallets to minimize chances of theft or however caused inflation (it may be confined to the operator)
- Choose a conversion model that does not out to much. We have noticed a few other exchanges and currencies that have shown almost no sign of the Mt.Gox trouble. Ripple for example shows a stable rate and allows trading into fiat currencies as well.
So don't be alarmed by the current drop of Bitcoin value. It's one black sheep and their handling of the software that caused this.
See you soon!
Tim
Saturday, February 1, 2014
Even more free Bitcoin for you! Loyalty pays off - literally
Hi forum!
Entering the second month of 2014 i have to report some changes on the Coin-inc.com Bitcoin Collector Tool.
Much to my pleasure we now have 64 faucets for you!!! 18 new ones since the last update. And we scour the web constantly for more of them.
Also new is that we pay a 10% dividend to all of our referrals on freebitco.in. At the end of each week you will receive a free 10% bonus from us on all the coin you collected that week!
Going further in the updates; we have added new commodities and online goods available for bitcoin which we could test during the last weeks.
The casino, in development for ages, at least now has it's API. So hopefully an implementation is just arround the corner. Bingo and Black Jack have been selected as follow up games.
If you'd like to see other games drop us a comment.
We also have now a possibility for you to earn while you sleep! Simply run the IPU-Service software while you do other things and have your computer generate hard cash for you while you go swimming, to the gym, take care of the kids or other things.
There haven't been much legal news around bitcoin recently except that the FBI in the US is planning to sell of their seized coins. Until this happens the market shoud be safe ;-)
Have a good time collecting!
See you soon forum,
Tim
Entering the second month of 2014 i have to report some changes on the Coin-inc.com Bitcoin Collector Tool.
Much to my pleasure we now have 64 faucets for you!!! 18 new ones since the last update. And we scour the web constantly for more of them.
Also new is that we pay a 10% dividend to all of our referrals on freebitco.in. At the end of each week you will receive a free 10% bonus from us on all the coin you collected that week!
Going further in the updates; we have added new commodities and online goods available for bitcoin which we could test during the last weeks.
The casino, in development for ages, at least now has it's API. So hopefully an implementation is just arround the corner. Bingo and Black Jack have been selected as follow up games.
If you'd like to see other games drop us a comment.
We also have now a possibility for you to earn while you sleep! Simply run the IPU-Service software while you do other things and have your computer generate hard cash for you while you go swimming, to the gym, take care of the kids or other things.
There haven't been much legal news around bitcoin recently except that the FBI in the US is planning to sell of their seized coins. Until this happens the market shoud be safe ;-)
Have a good time collecting!
See you soon forum,
Tim
Thursday, January 9, 2014
A happy, healthy and wealthy new year to you all!
Hi forum!
I hope all of you had a good start into 2014!
Our Bitcoin-collector site certainly has got a few additions.
Exchange rate and market data statistics have been extended and include now interactive charts for the developments on the 17 biggest exchanges. If you need any more or have special wishes please leave us a comment. The current ones were chosen due to market volume.The collector tool has also had a revival as the web underwent changes that rendered the old collector obsolete. We are working on restoring the same functionality for you.
Nevertheless have we added over 10 additional Bitcoin faucets and dispenser sites to collect even more free Bitcoin!
For some sites collected we even cash out loyalty rewards to our referrals! At the moment it is FreeBitcoin!
We have added lots of new retailers for all kinds of goods we came to test during the holidays. There's hosting, xbox and steam credits, rc models, multi-region blue ray players, computer RAM and so much more you can buy for bitcoin!
One offer we had to remove from our services as we do not want to supply you with suspected scammers (http://bitcoinscammers.com/coinurl-com/#comments).
A lot has been going on. Two times in succession BTC hit the 1000 USD mark though the second time was not followed by the former panic-sales. At least not at the time of writing. We're still on a good 916 USD.
As prices soared the banks were warning again from investment into bitcoin. "The investors could loose everything." was said. How ridiculous. Said by the people who lost other peoples savings by trying to stuff their own pockets. The message seems to be that you don't know what is right for your money. But, sorry to say (well actually not), the stingy 1.5% of banks don't even cut the inflation cost - why give my hard earned cash to them? To pay additional account, card and transaction charges? To be penny-less at the whim of some suit-warrior who won't be accountable for it?
People you are right to try Bitcoin and use it. No staged option sales on grain or milk will influence this market. In fact, the bigger the Bitcoin user base becomes, the more stable the whole market will get.
See you soon forum and thanks for reading.
Leave a comment if you have thoughts to this.
Regards, Tim
Friday, December 20, 2013
Hi forum!
For christmas this year i give you the reworked bitcoin collector tool on coin-inc.com
44 free Bitcoin faucets and dispenser sites - all in one place!
Should you know or operate a faucet we would be much obliged if you could leave us the URL in a comment. Thank you.
Further site updates have been made and more preparations for the casino have been added. It's all going ahead nicely though often not as fast as we'd wish.
Have a nice time collecting Bitcoin, merry Christmas and a happy new year to you all!
Tim
For christmas this year i give you the reworked bitcoin collector tool on coin-inc.com
44 free Bitcoin faucets and dispenser sites - all in one place!
Collect free Bitcoin now - all in one place!
The faucet list is updated weekly with all the faucets we know, find and the ones you people tell us about. Since Bitcoin exchange rates rose about 500% or more in the span of the last year, the payouts have shrunk. We aim to get us all the most out of collecting Bitcoins by combining all the places that give out Bitcoin in one tool.Should you know or operate a faucet we would be much obliged if you could leave us the URL in a comment. Thank you.
Further site updates have been made and more preparations for the casino have been added. It's all going ahead nicely though often not as fast as we'd wish.
Have a nice time collecting Bitcoin, merry Christmas and a happy new year to you all!
Tim
Monday, December 9, 2013
Bitcoin cracks the 1000 USD mark, China seeks to keep its money and it's been a while...
Hi there forum!
It's been a while since i posted, but as many as you know time is a scarce commodity...I have a bit for you: - Some recent world news - and the latest places to get free Bitcoin!
The exchange rate for bitcoins went "through the (temporary) roof" of 1000 USD while i was absent and a few actions were taken in return.Or were they?
A few coincidences make it worth a conspiracy theory. It is at least a string of very lucky events that enable the US to seize major amounts of Bitcoin with takedowns like the former silkroad and others (http://www.bbc.co.uk/news/technology-24378137). Then allow Bitcoin as funds in election campaigns and the price out of a sudden goes to a thousand USD average. Wouldn't it be worth checking the bigger transactions against btc addresses that were used for party support? I am not from the U.S. but if there are public documents listing contributions towards political parties - i'd be interested - please leave us a comment.
Lots of high value transactions have been made in the recent weeks and the news tell us it's from various scamming and hacking attempts made on sites operating a bitcoin daemon or users credentials. The increase in bitcoin related crime is surely there - considering the profit to be made. Though i also like to remain doubtful about the other side. At least as long as shady laws get passed during national holidays, sport-events and other distractions.
Next governmental decision regarding Bitcoin comes from China (http://www.bbc.co.uk/news/technology-25233224). Banks there have been banned from trading in Bitcoin currency as to prevent loss of capital. The People's Bank of China (PBOC) gave public advice to be aware of the risks when trading in bitcoin, which is still allowed, though the state seems to strongly believe the exchange rate is steering towards a bubble. Together with the IT ministry the bank declared Bitcoin a "virtual good", being unregulated and a money laundering opportunity. Which brings up memories of an old friend. "Banks-are-only-happy-when-they-get-a-cut-of-the-money-laundering-Bill"! Haven't seen him arround since at least a week when all over world banks were convicted of manipulating interest rates to profit from speculations on currency trade. (http://www.theguardian.com/business/2013/dec/03/banks-braced-huge-fines-libor-rate-rigging).
Let's see where this goes in China. The island-soap with Japan, Korea and Taiwan is another story, but hey - you need stuff to fill the headlines.
Back to Bitcoin and how to get some!
Obviously the payout rates have changed, but a good place to start is:(The links are shortened - just click skip ad in the top right corner)
coinbox.me
+ has about 20 active faucets attached that pay between 0.00000001 and 0.00000050
+ one of the faucets, a lottery, can pay up to 0.01000000 with all numbers matched
+ new faucets are sceduled to join coinbox soon
+ minimum payout amount is 0.00005500 BTC and happens automatically every 8 hours
btcclicks.com
+ good amount of ads, paying 0.00020000 up to 0.00040000 per add
+ The minimum withdrawal amount is 0.1 mBTC. However withdrawing an amount less than 10 mBTC will delay the processing of your payment by up to 24 hours and we will charge you a fee of 1.5%.
coinad.com
+ daily adds paying between 0.00000001 and 0.00000050
+ referal system for shared succes. for each referal click you receive btc in the amount of 10-20% of what your referral received - additional, not deducted from your referals earnings.
+ You can request a cashout once you meet the required minimum amount (0.00000544 BTC). Pending cashouts can take up to 1 week to process to avoid fraud and save money from fees.
If you happen to be a blog or website owner, there are a few ways to cash in btc through advertisement.
a-ads.com
+ each add is limited to the url it was registered with which is measured with a "health" parameter
+ pays quite a lot compared with the other advertisers - network stats are quite helpful to estimate earnings.
+ CPM are credited for daily unique visitors. Clicks do not pay extra
+ Minimum payout is 0.01 BTC and happens automatically. Max time for confirmation: 6 hours
bitads.net
+ a list with your impressions of the last week and amount of clicks is presented to bidders with adverts they like to publish.
+ you may set the initial bidding price
+ payout is 0.1 BTC
coinurl.com
- very inconsistent service - either inadequate infrastructure or coding problems
- low single payments, high minimum payout
+ serves ads and url-shortenings
+ minimum payout is 0.01 BTC.
(12% commission fee apply. This commission is not applied to the withdrawals below 0.15 BTC per month.)
Thats bitcoin news for the december beginning of 2013. If you have any experience with any of the above mentioned sites feel free to share with the rest of us in the comments.
Happy coin gathering!
Tim
Sunday, August 18, 2013
Light at the end of the tunnel! Germanys gov. accepts Bitcoin as private currency
Light at the end of the tunnel! Germanys gov. accepts Bitcoin as private currency in a way that stocks are. As opposed to stock-trade though, profit from Bitcoins is declared as taxfree when a year has passed since the purchase.
This comes at wonderful time as the debate has not yet passed the US senate which i was fearful of as American politics consist of lobby-work only. The declaration of Europe's financial leader to accept Bitcoin as a legal tender will surely not go down well in Washington.
Let's hope that the weight of the recent investors from the US is enough to allow the currency to become accepted. Surely the NSA knows by now the holders of enough Bitcoin addresses to feel safe swimming in these waters.
(original article source)
All the best, and see you soon forum!
Tim
This comes at wonderful time as the debate has not yet passed the US senate which i was fearful of as American politics consist of lobby-work only. The declaration of Europe's financial leader to accept Bitcoin as a legal tender will surely not go down well in Washington.
Let's hope that the weight of the recent investors from the US is enough to allow the currency to become accepted. Surely the NSA knows by now the holders of enough Bitcoin addresses to feel safe swimming in these waters.
(original article source)
All the best, and see you soon forum!
Tim
Saturday, August 17, 2013
Attacker detected on coin-inc.com
Today we caught a visitor attempting to inject code and retrieve passwords from our server.
The attack has been identified with the origin IP of 37.49.227.111
No user data is compromised as the relevant systems have not been connected yet.
In fact this has helped us to spot a loophole which was thought to be closed.
Logging mechanisms have been updated to supply further information on injection attempts and we like to apologize for the downtime of the collection tool today.
More news on the casino and the coming expansions of coin-inc.com soon!
Thank you and see you soon forum.
Tim
The attack has been identified with the origin IP of 37.49.227.111
No user data is compromised as the relevant systems have not been connected yet.
In fact this has helped us to spot a loophole which was thought to be closed.
Logging mechanisms have been updated to supply further information on injection attempts and we like to apologize for the downtime of the collection tool today.
More news on the casino and the coming expansions of coin-inc.com soon!
Thank you and see you soon forum.
Tim
Thursday, August 8, 2013
US Federal Judge recognises Bitcoin as currency
A US federal judge has found Bitcoin to be "a kind of currency". The fact that you can indeed exchange it for other currency seemed to convince the judge. Find a subscript of the district courts ruling here.
The original article offers the explantion that it enables US law enforcement to continue the case against Trendon Shavers aka "pirateat40" who was accused to have run a Bitcoin investment snowball system in which the "returns" to former investors are comprised of the deposits of new investors. The defendant is said to have acquired 700.000 Bitcoin this way with a promised return of about 7%.
The defense argument was the invalidity of Bitcoin as real currency, hence no money flow. The judge though deemed the acceptance rate and usability of Bitcoin as sufficient enough to serve as money or money substitute.
Back in march other rulings already decided that Bitcoin is subject to the money laundering laws in the States and supporters of Bitcoin hope the current case will instill further trust in the digital currency. (article source)
I will keep you updated on further happenings!
Happy day and see you soon.
Tim
The original article offers the explantion that it enables US law enforcement to continue the case against Trendon Shavers aka "pirateat40" who was accused to have run a Bitcoin investment snowball system in which the "returns" to former investors are comprised of the deposits of new investors. The defendant is said to have acquired 700.000 Bitcoin this way with a promised return of about 7%.
The defense argument was the invalidity of Bitcoin as real currency, hence no money flow. The judge though deemed the acceptance rate and usability of Bitcoin as sufficient enough to serve as money or money substitute.
Back in march other rulings already decided that Bitcoin is subject to the money laundering laws in the States and supporters of Bitcoin hope the current case will instill further trust in the digital currency. (article source)
I will keep you updated on further happenings!
Happy day and see you soon.
Tim
Tuesday, August 6, 2013
A little setback, though at least Mt.Gox updates
Hi forum! i'm sad to say the shipment of miners i was expecting didn't come through as the reseller was not able to provide the product or sufficient proof of purchase at the agreed date. A little sad but it may proof as starting point with our involvement into a new Bitcoin start-up.
A good thing to see though is the update on mt.gox - apparently they are now self-hosting and present on a large number of servers world-wide, which was in likelihood a response to the system buckling in under the amount of users in the past.
The new transaction system they employ is called Midas and is supposed to handle up to half a million transactions per second. A redesigned user interface is supposed to ease the usage of the exchange.
Money retrievals and deposits may still take up to a week though and is due to Mt.Gox a problem which persists with their current partner bank. The exchange is in the process of acquiring new partners according to their statements. (article source)
When considering the current market situation the exchange could also aim to deal with the negative press it accumulated during it's neigh monopoly during the past years. Charts indicate the eighty percent of market volume Mt.Gox is advertising with are a thing of the past. At the time of writing there were an indicated 47% of market volume traded over Gox.
All in all the whole market shows a promising stable trend with a current price of about a 105 $US to the Bitcon and we are confident about a positive future development.
As always; thank you for your attention and see you soon forum!
Tim
A good thing to see though is the update on mt.gox - apparently they are now self-hosting and present on a large number of servers world-wide, which was in likelihood a response to the system buckling in under the amount of users in the past.
The new transaction system they employ is called Midas and is supposed to handle up to half a million transactions per second. A redesigned user interface is supposed to ease the usage of the exchange.
Money retrievals and deposits may still take up to a week though and is due to Mt.Gox a problem which persists with their current partner bank. The exchange is in the process of acquiring new partners according to their statements. (article source)
When considering the current market situation the exchange could also aim to deal with the negative press it accumulated during it's neigh monopoly during the past years. Charts indicate the eighty percent of market volume Mt.Gox is advertising with are a thing of the past. At the time of writing there were an indicated 47% of market volume traded over Gox.
All in all the whole market shows a promising stable trend with a current price of about a 105 $US to the Bitcon and we are confident about a positive future development.
As always; thank you for your attention and see you soon forum!
Tim
Wednesday, July 31, 2013
How to display Mt.Gox Bitcoin data in your website - AJAX request to retrieve market prices for Bitcoin at Mt.Gox
With my miners wasting time in the customs office i will use the time to spread some useful information. At least for the aspiring developers among you.
Here's a little jquery snippet which will fetch you the current Bitcoin exchange rate.
The example requests US dollars, and inserts the data in various ticker fields.
Obviously for this to work you need some jquery running. I recommend the use of a content delivery network for this. Cloudflare offers a great service for this called cdnjs.com which also supports ssl.
Hope i could help you. If you like some advice on how to save a complete history of the bitcoin trade networks to your database please leave me a comment.
I also like to say sorry for the recent troubles with the coin-inc collector. There were some errors with the time zone settings on the new server but we fixed it.
Also, the forwarding to the next faucet happens automatically now. You just need to fill the capture and press enter... then again... then again... ;-)
We are working in all spare time on a new setup which will further ease the collection of free Bitcoin taking out the need to change between the faucet sites. If you like to support the development please find a donation address at coin-inc.com.
Have a good day and see you soon forum!
Tim
Here's a little jquery snippet which will fetch you the current Bitcoin exchange rate.
The example requests US dollars, and inserts the data in various ticker fields.
<script type="text/javascript">
$(function() {
$(document).ready(function(){
$.getJSON('https://data.mtgox.com/api/1/BTCUSD/ticker', function(data) {
$('#ticker-high').html(data['return'].high.display_short);
$('#ticker-low').html(data['return'].low.display_short);
$('#ticker-avg').html(data['return'].avg.display_short);
$('#ticker-volume').html(data['return'].vol.display_short);
$('#ticker-buy').html(data['return'].buy.display_short);
$('#ticker-sell').html(data['return'].sell.display_short);
});
});
})
</script>
$(function() {
$(document).ready(function(){
$.getJSON('https://data.mtgox.com/api/1/BTCUSD/ticker', function(data) {
$('#ticker-high').html(data['return'].high.display_short);
$('#ticker-low').html(data['return'].low.display_short);
$('#ticker-avg').html(data['return'].avg.display_short);
$('#ticker-volume').html(data['return'].vol.display_short);
$('#ticker-buy').html(data['return'].buy.display_short);
$('#ticker-sell').html(data['return'].sell.display_short);
});
});
})
</script>
Obviously for this to work you need some jquery running. I recommend the use of a content delivery network for this. Cloudflare offers a great service for this called cdnjs.com which also supports ssl.
Hope i could help you. If you like some advice on how to save a complete history of the bitcoin trade networks to your database please leave me a comment.
I also like to say sorry for the recent troubles with the coin-inc collector. There were some errors with the time zone settings on the new server but we fixed it.
Also, the forwarding to the next faucet happens automatically now. You just need to fill the capture and press enter... then again... then again... ;-)
We are working in all spare time on a new setup which will further ease the collection of free Bitcoin taking out the need to change between the faucet sites. If you like to support the development please find a donation address at coin-inc.com.
Have a good day and see you soon forum!
Tim
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