Posted on 11/05/2015 8:10:12 AM PST by Another Post-American
The world’s largest bitcoin exchange OKCoin has suspended some of its services indefinitely, following a malicious cyber attack from unknown hackers.
Due to an increasing number of complaints on bitcoin forums and panels including Bitcointalk.org and Bitcoin Reddit, OKCoin, which processes almost 40% of all bitcoin trades, announced to its users:
“OKCoin is currently suffering from malicious cyber attacks and as a result, some services may be suspended, Sorry for the inconvenience.â€
(Excerpt) Read more at cointelegraph.com ...
BTC soared from $400 to $500 yesterday, and is back down to $400 at this point. My gut feel is it won't go below $300 again without _much_ more bad news to counter all the good news recently, but otherwise I have no idea what's next...
Whoops, messed up the HREF linking on the bottom of the OP, sorry about that.
Gonna buy me some at these low prices. Bury ‘em in jars out back of the wood shed.
Surprise. Surprise. Who'd have expected something like that to happen?
Who do these bitcoin people think they are?
The US Treasury? Federal Reserve? Wall Street? Congress?
Only they can create and destroy savings!
WAIT! This can’t possibly be true! Why, only yesterday there was a post about how BitCoin would make a GREAT world reserve currency!
“Gonna buy me some at these low prices. Bury ‘em in jars out back of the wood shed.”
You’re a complete fool! I have something MUCH better than BitCoin, namely, Invisible Gold(TM)! It takes up far less space than BitCoin when burying and is virtually incorruptible because it has the word “gold” in its name.
GMTA! My exact thought when I saw this.
At some time there will be a viable crypto-currency, but BitCoin ain't it.
Bitcoin is still young. As it matures and becomes more widely adopted, a DDOS attack on an exchange will become more difficult (larger exchanges = better security), same as for fiat stock exchanges for example. And attacks on one exchange out of many will have less impact on price as it will be a nuisance.
This is a nuisance anyway, just happening at a particularly volatile time.
Newb!
My BitOGold(TM) is more secure than your I.G. sham; being made of only 0’ and 1’s (Rest assured, there can be no other!).
Being a bit, it is easily transported and capable of long-term storage ANYWHERE!
Plus, it has the backing of ‘gold’ in its name.
I’ll post my Paypal to give a few of our FRiends the lowest-tier entry possible for this new reserve currency! Hurry now!
“I’ll post my Paypal to give a few of our FRiends the lowest-tier entry possible for this new reserve currency!”
Uh, will you take Invisible Gold(TM) as payment?
Oh, and who you calling a noob, anyway? I’ll have you know I’m the PROUD inventor of TWO (count ‘em, two) new digital currencies! Both invented back in early ought’14, namely BaconBits, proposed as the solution for making change for a pork-based currency:
“What about BaconBits? That’s kinda a digital currency isn’t it? I mean, after all, it’s got the word “bits” in it, right?”
http://www.freerepublic.com/focus/bloggers/3111580/posts
and CatnipmanCoin, an ENTIRELY NEW currency:
“Hey, I’ve started up another alternative currency called CatnipManCoin. Mine are BETTER than old-fashioned virtual coins because I’ve had mine actually printed up, so they are actually tangible. I’ve printed up ten million of them and promise not to print any more. The face value is one billion dollars each, but I’ve selling them at a steep discount of $1.00 each so as to allow plenty of profit upside to those who buy-in early. BTW, there’s a limit of 1000 CatnipManCoins per person, so hurry before they are all gone!”
http://www.freerepublic.com/focus/chat/3130015/posts
(BTW, will you take either BaconBits or CatnipmanCoin in payment for BitOGold(TM)?)
AND...as a side benefit...they're edible!
My KingMidasInReverse BitCoins are the only way to go here...look for it on Mt Gox and BitPay!
Don’t know, now. I’ve *seen* Imitation BaconBits already /s
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.