• Mt. Gox finds 200,000 bitcoins it thought were lost
    33 replies, posted
[url]http://www.marketwatch.com/story/mt-gox-finds-200000-bitcoins-it-thought-were-lost-2014-03-21?link=MW_latest_news[/url] [quote]TOKYO — Major bitcoin exchange Mt. Gox said it had found nearly a quarter of the bitcoins it previously said were lost, raising questions about how much of the missing total could eventually be recovered. Mt. Gox Chief Executive Mark Karpelès said in a document released Thursday that the firm had found 200,000 bitcoins in a wallet — a digital file used to store bitcoin addresses and from which transactions can be done — that the company no longer uses. That brought the number of bitcoins still missing to roughly 650,000 from about 850,000.[/quote] yeah.. they found them, sure. It's gonna take more than that to get you out of hot water.
How do you just forget about cold storage with 200k bitcoins?
"we found back the 122 million dollars of the 500 million dollars we somehow lost. We just misplaced it." Seriously how can you just do that
It must of been lost in that coach at home.
Think positive, at least they have the decency to admit they lost them and not just keep them for themselves.
[QUOTE=phyton92;44308135]Think positive, at least they have the decency to admit they lost them and not just keep them for themselves.[/QUOTE] I'm sure it was lost right into their wallets, and at the thought of being sued into oblivion and back made them re-find it.
[QUOTE=Mega1mpact;44308017]"we found back the 122 million dollars of the 500 million dollars we somehow lost. We just misplaced it." Seriously how can you just do that[/QUOTE] whoops
[QUOTE=Mega1mpact;44308017]"we found back the 122 million dollars of the 500 million dollars we somehow lost. We just misplaced it." Seriously how can you just do that[/QUOTE] The guy behind MtGox coded an SSH server in PHP with more security vulnerabilities than every Microsoft product combined, with more performance problems than Minecraft, and he's going to use it in production. And you're asking how they could misplace a 200K Bitcoin wallet? The entire exchange was fucked from the start.
I still don't get why people store their bitcoins online. It seems like a huge unnecessary risk compared to keeping them on a hard drive (with backups of course).
Did they 'just' lose the the flash drive containing a hundred million dollars down the back of the sofa?
[QUOTE=nikomo;44308482]The guy behind MtGox coded an SSH server in PHP with more security vulnerabilities than every Microsoft product combined, with more performance problems than Minecraft, and he's going to use it in production. And you're asking how they could misplace a 200K Bitcoin wallet? The entire exchange was fucked from the start.[/QUOTE]I have no idea how the system works, but why can't they just restore a backup?
[QUOTE=Mega1mpact;44308017]"we found back the 122 million dollars of the 500 million dollars we somehow lost. We just misplaced it." Seriously how can you just do that[/QUOTE] "Hey John.. is this your flash drive?"
[QUOTE=RoboChimp;44308791]I have no idea how the system works, but why can't they just restore a backup?[/QUOTE] If they just restored the entire exchange from a backup, if what they say is true (they got hacked, someone stole the Bitcoins), the software will first go "Hey, we've got shitloads of Bitcoins, but we don't have any transaction data for like weeks, we need to download that before doing anything", and then it'll come up to the transaction in the logs where the money was transferred from their account. The protocol is designed so that you can't double-spend coins (because that would make the currency worthless), so going to a backup wouldn't accomplish anything.
[QUOTE=nikomo;44309934] The protocol is designed so that you can't double-spend coins (because that would make the currency worthless),[/QUOTE] Isn't it already worthless? :v:
[QUOTE=Starlight 456;44310648]Isn't it already worthless? :v:[/QUOTE] Well according to bitstamp.net, they are worth 579.89 at the time of this post.
Just a reminder that MtGox was "magic: the gathering online exchange" before buttcoins were a thing Not even real cards, but digital ones.
[QUOTE=AugustBurnsRed;44311140]Just a reminder that MtGox was "magic: the gathering online exchange" before buttcoins were a thing Not even real cards, but digital ones.[/QUOTE] just a reminder this is a shitty rumor with no real proof behind it
[QUOTE=Sir_takeslot;44308429]I'm sure it was lost right into their wallets, and at the [B]thought of being sued into oblivion[/B] and back made them re-find it.[/QUOTE] I think they just realized that it's going to be really hard to spend the money without getting caught
[QUOTE=Croix;44311638]just a reminder this is a shitty rumor with no real proof behind it[/QUOTE] yeah just a shitty rumor, ignore the fact that some of us used it in the past
[QUOTE=nikomo;44308482]The guy behind MtGox coded an SSH server in PHP with more security vulnerabilities than every Microsoft product combined, with more performance problems than Minecraft, and he's going to use it in production. And you're asking how they could misplace a 200K Bitcoin wallet? The entire exchange was fucked from the start.[/QUOTE] Please tell me more about this SSH server implemented in PHP, I am curious.
[QUOTE=Croix;44311638]just a reminder this is a shitty rumor with no real proof behind it[/QUOTE] [url]http://wayback.archive.org/web/20070817170606/http://mtgox.com/gwt/mtgox.php[/url]
How to safely store your bitcoins [IMG]https://images-na.ssl-images-amazon.com/images/G/01/srrichar/flashdrive_bg_flash1.jpg[/IMG]
[QUOTE=Kljunas;44308576]I still don't get why people store their bitcoins online. It seems like a huge unnecessary risk compared to keeping them on a hard drive (with backups of course).[/QUOTE] Well storing them in an exchange is downright stupid but the same vulnerabilies affect online wallets which people use because they're more convenient. The absolute safest way of storing your bitcoins involves downloading the entire blockchain and keeping it updated with all changes, which is currently around 14GB and growing. There are light wallets where the blockchain is stored on a server and your coins are (supposedly) completely safe and accessible only by you, which is a decent compromise. I assume there are some security risks with this though, you'd need to ask an expert.
[QUOTE=W key broke;44314819]How to safely store your bitcoins [IMG]https://images-na.ssl-images-amazon.com/images/G/01/srrichar/flashdrive_bg_flash1.jpg[/IMG][/QUOTE] Flash drives, Heck any flash memory is REALLY inaccurate and the thing is just guessing what the real data was at runtime.
[QUOTE=Mega1mpact;44318918]Some users, Heck even Mega1mpact is REALLY inaccurate and he is just guessing how the data is stored on flash memory.[/QUOTE] Fix'd
[QUOTE=Mega1mpact;44318918]Flash drives, Heck any flash memory is REALLY inaccurate and the thing is just guessing what the real data was at runtime.[/QUOTE] You're extremely technology illiterate if you think that's how flash memory works.
[QUOTE=GiGaBiTe;44321417]You're extremely technology illiterate if you think that's how flash memory works.[/QUOTE] [QUOTE=Coolboy;44321354]Fix'd[/QUOTE] Flash memory is REALLY unreliable. I contains a chip that guesses if the data is correct. Watch the entire video or just that part if you are interested in this subject. [url]https://www.youtube.com/watch?v=NuX_ElPhWHs#t=204[/url]
[QUOTE=Mega1mpact;44321573]Flash memory is REALLY unreliable. I contains a chip that guesses if the data is correct. Watch the entire video or just that part if you are interested in this subject. [url]https://www.youtube.com/watch?v=NuX_ElPhWHs#t=204[/url][/QUOTE] Is this why when I completely moved a rather large game installer to my flash drive, it showed up as corrupted on the next computer I tried to run it on?
[QUOTE=Snickerdoodle;44321693]Is this why when I completely moved a rather large game installer to my flash drive, it showed up as corrupted on the next computer I tried to run it on?[/QUOTE] Do you know what reliable means? [editline]22nd March 2014[/editline] It doesn't mean it will corrupt your data, it means there's a small chance.
[QUOTE=sloppy_joes;44321708]Do you know what reliable means? [editline]22nd March 2014[/editline] It doesn't mean it will corrupt your data, it means there's a small chance.[/QUOTE] It's only storing a probelistic apoximation of your data [t]http://i.imgur.com/M2aXzAq.png[/t]
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