[Chugalug] Bitcoin bit $378 today

William Roush william.roush at roushtech.net
Sat Nov 9 21:30:09 UTC 2013


Well lets be honest: there have been slip-ups with the ECDSA algorithm 
before, these attacks allow you to compromise people's Bitcoin wallets 
from their public signatures (some sloppy apps have apparently done this).

While I'm thrilled about a lot of the cryptographic technology behind 
Bitcoin, it lends itself to a level of understanding many wont 
understand, and with so many half-assed applications out there I'm not 
surprised some of them are implementing the cryptography wrong and 
putting people's money at risk. However I love seeing public-key 
cryptography being used more and more, and those kinks will continue to 
get worked out.

I wouldn't say it's "time, determination and skill" so much as it's "too 
many hands in the honeypot, with most not knowing what they're doing, 
take advantage of one of them".

William Roush
william.roush at roushtech.net

http://www.roushtech.net/blog/


On 11/9/2013 4:08 PM, Lynn Dixon wrote:
> Its a distributed network.  over 51% of the network would have to be 
> compromised before any vulnerabilities could be exploited.
>
>
> On Sat, Nov 9, 2013 at 4:06 PM, Stephen Kraus <ub3ratl4sf00 at gmail.com 
> <mailto:ub3ratl4sf00 at gmail.com>> wrote:
>
>     Anything can be hacked, given time, determination, and skill.
>
>     C'mon it's like rule number one. Never assume anything is totally
>     secure regardless of what you are told.
>
>     On Nov 9, 2013 3:54 PM, "Lynn Dixon" <boodaddy at gmail.com
>     <mailto:boodaddy at gmail.com>> wrote:
>
>         Chad,
>         This goes to show that you should protect your Bitcoin wallet,
>         just as you would your back pocket wallet.
>
>         Bitcoin can't be "hacked".  Wallets can be stolen if you are
>         careless with them, but so can your normal wallet, or purse,
>         or murse.
>
>
>         On Sat, Nov 9, 2013 at 3:42 PM, Chad Smith <chad78 at gmail.com
>         <mailto:chad78 at gmail.com>> wrote:
>
>             $1.3 Million US Dollars worth of BitCoins stolen
>
>             http://mashable.com/2013/11/08/bitcoin-theft-tradefortress/
>
>             http://www.bbc.co.uk/news/technology-24871444
>
>             http://www.dailymail.co.uk/news/article-2492813/Bitcoin-site-hacked-1million-virtual-currency-stolen.html
>
>             /-Chad W. Smith/
>
>
>             On Sat, Nov 9, 2013 at 1:01 PM, Lynn Dixon
>             <boodaddy at gmail.com <mailto:boodaddy at gmail.com>> wrote:
>
>                 DOH!!,!  Matt beat me to it.   Coinbase is pretty
>                 nice, and they have some really great merchant tools.
>                  You can send your BTC to coinbase and then sell them.
>                  The profits will be directly deposited into your bank.
>
>                 I'm still gonna shamelessly drop my referral link here
>                 for any one else that may be interested:
>
>                 https://coinbase.com/?r=521045129757bf315c000063&utm_campaign=user-referral&src=referral-link
>
>
>                 On Saturday, November 9, 2013, Matt Keys wrote:
>
>                     Phil check out coinbase.com <http://coinbase.com>.
>
>                     On 11/09/2013 08:31 AM, Phil Sieg wrote:
>>                     Well my 9 USB ASIC's have pumped out 3/4 of a
>>                     bitcoin which means if I can figure out how to
>>                     turn that into dollars I will be at break even on
>>                     hardware.
>>
>>                     Gonna go look and see how to go from BitMinter to
>>                     Bank... Something tells me it's gonna be
>>                     frustrating ;-)
>>
>>                     Phil Sieg
>>                     President
>>                     SeniorTech LLC / snapfon®
>>                     www.snapfon.com <http://www.snapfon.com>
>>                     phil.sieg at seniortechllc.com
>>
>>                     Phone: 423.535.9968 <tel:423.535.9968>
>>                     Fax: 423.265.9820 <tel:423.265.9820>
>>                     Mobile: 423.331.0725 <tel:423.331.0725>
>>
>>                     /"The computer is the most remarkable tool that
>>                     we have ever come up with. It's the equivalent of
>>                     a bicycle for our minds"/
>>                     /
>>                     /
>>                     /Steve Jobs, 1955-2011/
>>
>>                     *sent from my ipad
>>
>>                     On Nov 9, 2013, at 12:51 AM, Lynn Dixon
>>                     <boodaddy at gmail.com> wrote:
>>
>>>                     Bitcoin broke another record when compared to
>>>                     the US dollar.  $378 will buy one bitcoin now.
>>>
>>>                     BFL Singles may still be making sizable profits
>>>                     for a few more months.
>>>
>>>                     _______________________________________________
>>>                     Chugalug mailing list
>>>                     Chugalug at chugalug.org
>>>                     http://chugalug.org/cgi-bin/mailman/listinfo/chugalug
>>
>>
>>                     _______________________________________________
>>                     Chugalug mailing list
>>                     Chugalug at chugalug.org
>>                     http://chugalug.org/cgi-bin/mailman/listinfo/chugalug
>
>
>                 _______________________________________________
>                 Chugalug mailing list
>                 Chugalug at chugalug.org <mailto:Chugalug at chugalug.org>
>                 http://chugalug.org/cgi-bin/mailman/listinfo/chugalug
>
>
>
>             _______________________________________________
>             Chugalug mailing list
>             Chugalug at chugalug.org <mailto:Chugalug at chugalug.org>
>             http://chugalug.org/cgi-bin/mailman/listinfo/chugalug
>
>
>
>         _______________________________________________
>         Chugalug mailing list
>         Chugalug at chugalug.org <mailto:Chugalug at chugalug.org>
>         http://chugalug.org/cgi-bin/mailman/listinfo/chugalug
>
>
>     _______________________________________________
>     Chugalug mailing list
>     Chugalug at chugalug.org <mailto:Chugalug at chugalug.org>
>     http://chugalug.org/cgi-bin/mailman/listinfo/chugalug
>
>
>
>
> _______________________________________________
> Chugalug mailing list
> Chugalug at chugalug.org
> http://chugalug.org/cgi-bin/mailman/listinfo/chugalug

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://chugalug.org/pipermail/chugalug/attachments/20131109/a1b4d120/attachment.html>


More information about the Chugalug mailing list