Dirty F

The last 30 minutes bitcoin was going up again, reached 80 dollars and poof...gone is Mtgox. Basically every time the coin gains someone takes the site down.
It's clear there is a person or a group of people who are doing everything they can to kill it.
And sadly enough they are doing a good job.

I have my tinfoil hat on...i'm open for anything

Deputy Chief Command

BTC is not here to stay it was a short lived hype early/mid 2013 and it is funny people actually took it serious back then, with all the info we have now it was really laughable to think BTC was going to replace real currency

/2023

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dyna mo

current theories i am workshopping:::

1. libertarians

2. the fed

3. rothchilds

4. multiple, different large holders of btc have figured out the value of ddos and they are all ddossing in uncoordinated attacks

5. mtgox is idiots

6. mtgox is being crafty

7 mtgox competition is ddossing to kill mtgox and get those customers

8. the gfy poster nixxin, he's always gone from around here when the ddos's hit.

MikeRoth

It's interesting. The bitcoin supporters had their fare share of DDoS attacks on bitcoin mining pools to keep them from getting to 50% of the hashing power.

At the current price continued DDoS attacks are not meant to bring the price down to bounce it back up and make a quick buck. It's gotta be someone who stands to lose something from the success of bitcoin.

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AdultPornMasta

I would suggests that the attacks are being perpetrated by those who stand to make a great deal from the success of Bitcoins.

Think about it................................................ ...

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Dirty F

MikeRoth

Or just a hater who is mad that so many people made a lot of money with bitcoins and wants to see it crash and burn, :x

There are multiple talks of ways to prevent DDoS from affecting the price of bitcoin though. Easiest method is to stop making mtgox the main/central exchange. Every website about bitcoin and bitcoin price/charts links to the exchange rate on mtgox. Simply changing that to show the exchange rate on the other exchanges would help. Or if it's possible to make the exchanges into a peer-to-peer network like torrenting where every miner backs the exchange.

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dyna mo

couldn't that be attributed to multiple entities not knowing when each other is ddosing mtgox?

see what i am getting at, there's not just one entity that figured out ddos manipulates the price, if they scheduled their ddos for thursday, but another group scheduled their's for friday, can you just call off a ddos?


this is too fucking funny btw, wow, what a topic, crazy.

AdultPornMasta

Ain't down. I'm looking at it right now.

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Dirty F

Exactly, this is different than before. It only makes sense if someone tries to take BTC down completely.

Dirty F

Couldn't load it few minutes ago...just as it was about to reach 80.

They also had their biggest attack today.
Because a coin that was down wasn't enough obviously. It has to die completely.

BlackCrayon

i am guessing they probably shut down some accounts owned by the botnet mining guys and this is the revenge.

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dyna mo

i was thinking of moving from mtgox to either btce or bitstamp, do you know anything about these?

NiXXiN

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dyna mo

battle of the browsers! maybe it's battle of the exchanges? if mtgox competition wanted to kill it, this is rly the only way and the only time, couldn't do it after all this dies down.

Supz

This are some amazing conspiracies.

MikeRoth

I have been using BTC-E because I am not willing to verify with MTGox to be able to use Dwolla with them. However BTC-E is run by some russians who don't speak english well... so will they randomly shut down and run off with your money/coins? I would trust MTGox more to store bitcoins and USD in than I would any other exchange.

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dyna mo

if it was "The Twins" which we all suspect it was dont reply.
permalinkparent
[?]imbcmdth 7 points 32 minutes ago
Twins confirmed!





so thewinklevoss twins were behind it!

L-Pink

American gun owners are behind it.

.

MikeRoth

When I had a botnet 15 years ago or so it was just as easy to call off a DDoS as it was to start one. I don't know how it works anymore but back then you would have full control of the DDoS bots via IRC or a website. You'd issue simple commands like ".ddos [target] [the number of packets to send] [packet size]" Then to cancel or stop you'd just issue another command to the bots to stop.

There's also a lot more ways to DDoS now than with a couple thousand infected computers.

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dyna mo

Our system was designed to handle 2~3x our normal load, but now we're experiencing 10x the amount, which was difficult to prepare for (it takes weeks) with the sudden new accounts.
We have two problems: the DDos and volume related to new accounts. The trade engine is capable of accepting much more of a load. Within 2~3 weeks we will completely rewrite the trade engine, in the meantime we shut down the system today and installed a new server with the current trade engine. Of course, if we didn't have DDos everything would be fine, so now we're dealing with two issues at once.

Wizzo

The real puppetmasters?

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AdultPornMasta

Maybe not. Try this on for size.......

Let's say that you are from a country which had been stashing big bucks in a country whose banking industry recenty took a great big shit, you have lost part of your money and need to do something with the rest to get it out of that country and make back your losses.

DDoS Mt.Gox, frighten away the faint of heart, those working with scared money, drive away miners, induce panic selling and then buy like all Hell when the price drops.

Wait until the price goes back up, sell, rinse and repeat.

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MikeRoth

Yes, but if they frighten everyone away there won't be anyone left to run it up again. It will just go back to the normal $20/coin or less. They could be waiting for a long time before it rises again.

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woj

"We are still the largest exchange with over 420,000 trades per month and USD $121 million monthly trade volume. "
https://mtgox.com/press_release_20130404.html

so they do only 420k trades per MONTH? about 15k/day? NYSE/NASDAQ probably does that per second... bunch of amateurs...

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dyna mo

Sunday, June 19, 2011

MTGox DB got leaked. . .


In 2011 they had a database stolen by a contractor. It was used to crash the market (which had already been headed down for ~1-2 weeks from the all time high). There was a huge sell-out of bitcoins this afternoon. (6/19/11)

Bitcoin is far too risky of a business to just take on new big business partners without a solid prior relationship.
Think about it, in one swoop $100,000,000, or more, could vanish without a trace if their servers fell into the wrong hands. There's nothing quite like that outside of Bitcoin.

Dirty F

You're getting pathetic. Really...you're reaching...it's getting silly.

MikeRoth

Yep, I was invested when that happened. Luckily they did have some safety/security. I think only a small fraction of the bitcoins were in their "HOT wallet" which were the ones that were dumped to cause the massive drop. I believe MTGox reversed the exchange and reset it though. After that they made everyone verify their account with last used IP, e-mail, password, account balance information, which accounts you used to transfer the money into MTGox or bitcoin addresses used before they would give you your account back. But I didn't lose a dime from it so I do have a bit of faith in MTGox.

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woj

reaching? I may have exaggerated NYSE/NASDAQ trading volume a little, but still doesn't change the fact that it's pretty damn pathetic that largest bitcoin exchange can't stay up when they are only doing 15k trades per day....

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dyna mo

it's a sign of them recovering quickly and going forward, but at the same time it shows how completely vulnerable they are and will continue to be.

i don't see how exchanges fit into the original goals of the bitcoin project, i know it's evolved significantly, but can that continue with exchanges?

Dirty F

Yes, that's true. I thought you were crying about the amount of trades. Which is pretty damn impressive for a little internet coin.
If that wasn't the case then i take my words back.

Biggy

1. Any hacker or hacker groups who wants to create a name for himself/herself.
2. Any anarchist hacker or hacker groups who doesn't believe in anything, including $.

Bitcoin = High PR target.

anexsia

Huh? Where were you when the 2011 bubble happened? This isn't new and it's far from finished. Will it replace real currency? Maybe not but no one thought they would be worth much back in 2010 and look where the prices have hit.

ottopottomouse

Probably both said Friday without thinking about time zones.

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MikeRoth

Damnit MTGox, get your shit together. At least I found a better scalping technique. Sell when MTGox goes down, rebuy when it comes back online.

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dyna mo

i know right, fuck, it's prolly a whole lot of everything. i guess the good thing is it will hopefully cause an increase in change, i would bet the next level solution to exchanging would wipe mtgox right out of the picture.

Dirty F

What was this NASA thing a decade ago? They fucked up something in space because of different time zones?

Or maybe it was something completely different...i'm drunk.
All i can remember is that it was something big and they made a time zone mistake

NiXXiN

still trading around $90, pretty good so far considering, i think if it reaches $100 we might see a rally and some renewed interests

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ottopottomouse

They lost something that was going to Mars because of a mix up over metric and imperial measurements.

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