The Glade 4.0

Check it out...

http://www.btcbuy.info/

They sell Amazon / Newegg gift cards for BTC.

So what is bitcoin actually generating/doing? Just generating Thousands of Hashmarks and randomly passing out BitCoin pieces? Or is it doing something productive like Seti?

Being able to buy Amazon giftcards with BitCoin is starting to intrigue me, my roomate's co-workers have been ranting and raving about BitCoin for months and building pc's for the sole purpose of Mining...

Is that really it? Just run BitCoin generate Coins and buy stuff?!? I fail at economics and this doesnt make sense to me....

Until there is some kind of fraud protection available, I doubt this will ever become serious.

Wow, that's a lot. In any case I keep my wallet file in a Truecrypt file.

I think because bitcoin is a decentralized internet commodity, similar to a digital version of gold, you have to take your own precautions. Just like if you were to own gold or some other physical commodity you would get a safe or store it in some secure location, you should take similar precautions and encrypt/backup your wallet.dat file. I'm looking into various methods to encrypt / back up my wallet more securely.

When I first saw this I was very skeptical but it seems to have some validity to it. Decent write-up here. I'm still trying to get a handle on how the scheme is protected from, say, a wide-spread virus. Very interesting.

Mining has been going much more slowly than I thought it would. I'm just under 3 BTC mined.

Huge Bitcoin sell off due to a compromised account - rollback

Mark Karpeles
posted this on Jun-20 04:07

The bitcoin will be back to around 17.5$/BTC after we rollback all trades that have happened after the huge Bitcoin sale that happened on June 20th near 3:00am (JST).

Service should be back by June 20th 10:00am (JST, 01:00am GMT) with all the trades reversed and accounts available.

One account with a lot of coins was compromised and whoever stole it (using a HK based IP to login) first sold all the coins in there, to buy those again just after, and then tried to withdraw the coins. The $1000/day withdraw limit was active for this account and the hacker could only get out with $1000 worth of coins.

Apart from this no account was compromised, and nothing was lost. Due to the large impact this had on the Bitcoin market, we will rollback every trade which happened since the big sale, and ensure this account is secure before opening access again.

What exactly is a bitcoin? It doesn't seem like a real thing to me.

It's digital currency that can't be counterfeited, and isn't controlled by anything centralized.

Then how did all the transactions get rolled back?

I don't think it works the way it was advertised.

The transactions on Mt. Gox will be rolled back, not the bitcoin network itself.

The issue with this is people who withdrew their bitcoins after making a Mt Gox transaction that will be rolled back. It will be interesting to see how that plays out.

The transactions on Mt. Gox will be rolled back, not the bitcoin network itself.

The issue with this is people who withdrew their bitcoins after making a Mt Gox transaction that will be rolled back. It will be interesting to see how that plays out.

Your said (before the edits) that your transaction was rolled back after your purchase. Call it what you will, you've been controlled by a central authority.

You did nothing wrong, you didn't manipulate the market. You were screwed. "The network" should have recorded the transaction and you should have received what you purchased had the exchange site honored it's obligation.