Does Anyone Here Trade Cryptocurrencies... Or Is that a dirty word?

FXX

Well-known member
Oct 12, 2017
1,135
179
73
#16
so much for the bull****

https://www.armstrongeconomics.com/...m-cryptocurrency-almost-400-million-vanishes/


Thanks to a string of screw-ups and bugs, an unsuspecting developer recently took possession of an estimated $US390 million worth of the Ethereum cryptocurrency by accident. In an attempt to give back the money, however, the guy ended up locking up the funds permanently. Essentially, the money has just evaporated.

It turns out that hackers started the trouble getting into the cryptocurrency wallet service stealing about $42 million. To then patch the vulnerability to their block-chain technology, they introduced a bug that affected multi-signature wallets. These are wallets which require several people to enter keys before funds get transferred. This was intended to be top security for Ether which is the second largest cryptocurrency. Somehow, a guy called “devops199” triggered the bug and took control of all multi-sig wallets unintendedly. Then devops199 attempted to reverse the process to give back the money which then triggered they bug. The result was the destruction all of the funds. The bug caused a chain reaction of events that locked all multi-signature wallets that cannot now be unlocked
 
Jun 7, 2007
58
11
18
#17
so much for the bull****

https://www.armstrongeconomics.com/...m-cryptocurrency-almost-400-million-vanishes/


Thanks to a string of screw-ups and bugs, an unsuspecting developer recently took possession of an estimated $US390 million worth of the Ethereum cryptocurrency by accident. In an attempt to give back the money, however, the guy ended up locking up the funds permanently. Essentially, the money has just evaporated.

It turns out that hackers started the trouble getting into the cryptocurrency wallet service stealing about $42 million. To then patch the vulnerability to their block-chain technology, they introduced a bug that affected multi-signature wallets. These are wallets which require several people to enter keys before funds get transferred. This was intended to be top security for Ether which is the second largest cryptocurrency. Somehow, a guy called “devops199” triggered the bug and took control of all multi-sig wallets unintendedly. Then devops199 attempted to reverse the process to give back the money which then triggered they bug. The result was the destruction all of the funds. The bug caused a chain reaction of events that locked all multi-signature wallets that cannot now be unlocked

My dear, a 230B market dont lie. What you say is like William Ackman's 1B losses in 2016. Buy ETH and LISK, you wont regret .
 

Quantt

Active member
Jul 23, 2017
945
57
38
#18
so much for the bull****

https://www.armstrongeconomics.com/...m-cryptocurrency-almost-400-million-vanishes/


Thanks to a string of screw-ups and bugs, an unsuspecting developer recently took possession of an estimated $US390 million worth of the Ethereum cryptocurrency by accident. In an attempt to give back the money, however, the guy ended up locking up the funds permanently. Essentially, the money has just evaporated.

It turns out that hackers started the trouble getting into the cryptocurrency wallet service stealing about $42 million. To then patch the vulnerability to their block-chain technology, they introduced a bug that affected multi-signature wallets. These are wallets which require several people to enter keys before funds get transferred. This was intended to be top security for Ether which is the second largest cryptocurrency. Somehow, a guy called “devops199” triggered the bug and took control of all multi-sig wallets unintendedly. Then devops199 attempted to reverse the process to give back the money which then triggered they bug. The result was the destruction all of the funds. The bug caused a chain reaction of events that locked all multi-signature wallets that cannot now be unlocked
Amen Brother, that's what I am talking about, not to mention that the we already have been trough this in the dot com bubble, at lest the trading was properly regulated on a real stock market back then...
 

Nowler

Active member
Sep 13, 2017
760
55
38
#24
I trust the crypto market just about as much as i'd trust a fart the morning after a hard night drinking Guinness!

I am not well versed in Crypto, but I certainly smell a rat!
 
Jun 7, 2007
58
11
18
#27
my most conservative expectations place the btc in the order of a trillion dollars in a market of crypto of about 20-30 trillion. Just have to see a little of what is played:
1) there is no central power to manipulate your assets
2) It is intuitively global
3) an open source distributed ubiquitously
4) although bitcoin is not scalable, the entire ecosystem around it makes it scalable.
5) Only the IoT market is 15 trillion (three or four cryptos)
6) There are no compound interests, there are no synthetic derivatives.
7) You and only you are responsible for your assets

Personally, I think there is a huge space of growth, exponential, but I have stopped focusing on bitcoin to try to understand concepts such as IOTA, Ethereum, Lisk, GBYTE, EOS. And especially to meet the people behind: @DavidSonstebo, @VitalikButerin, DAN LARIMER, @rogerkver.