Tuesday 31 July 2012

Btc-E Hacked

Btc-E was hacked which is another blow to the Bitcoin project as Btc-E is one of the more popular exchange.  I loved to use Btc-E especially it gave a lot of choices of crytographic currency.   It seemed that someone fraudulently entered a lot of USD and buy up the value of the Bitcoin until it spiked to over US$90.   The situation is still unfolding.  Best Wishes to Btc-E, may it resume operations asap.

This is a recommendation taken from the popular Bitcon forum:

1. Sell ALL USD immediately. There is definitely not enough USD to pay out.
2. Withdraw ALL BTC immediately. Unless fractional reserve or cold storage was employed, there should be enough. This is confirmed by one of DeathAndTaxes's experiments.
3. Change passwords for other websites immediately. The database is likely to leak, if a SQL injection was the culprit.

Sunday 15 July 2012

A public plea for help regarding Bitcoinica and my 24,841 BTC

I have reproduced this in full to help the member.

Please help me.
I have 24,841 bitcoins on deposit with Bitcoinica.
I have provided them with my full and complete account history including every transaction since day one.There is no question as to exactly how much I am owed. (I'm happy to provide proof to other trusted entities)
I have patiently been asking for them for my money back for months, but they have refused to return even a single Bitcoin to me.

I'm a core Bitcoin proselytizer.
I'm responsible partly or in full for:

National Bitcoin radio adds @ $2,800 a month for over the last year.
The Bitcoin Bet.
Bitcoin Billboard
Numerous national radio interviews.
Several more projects that are in the works including a Bitcoin competitor to newegg.com.

For the last 1.5 years I have spent every waking moment promoting Bitcoin,  and my 24,841 Bitcoins were to be used exactly for that.

Hacker, Tihan,  Zhou,  Patrick, Donald, Amir, or anyone else with access to my money,  please return it to

so that I can continue to effectively promote Bitcoin.
Returning my funds will likely make everyone's worth even more in the long run.
I promise I will continue using them to help advance Bitcoin.

Roger Ver
Cell +1-408-313-1853

Dismantling of Deepbit

There are on and off requests to dismantle Deepbit, not because it is no good but because it is too good and attracted too many of the miners until their share of the hashing power is dominant.   As we know those who control more than 50% of the Bitcoin hashing power has the ability to manipulate the entire Bitcoin, once in a while there are talks in forums or suggestions to dismantle Deepbit.   IMHO I do not think it is fair.   Yes I do favor a pool that has lesser hashing power so that it will not be a threat to the Bitcoin.   What I suggest is the rest of the pool operators improve upon their services so as to capture more hashing powers from the Deepbit pool rather than ask for Deepbit to be dismantled.

Sunday 1 July 2012

Upgrade to Bitcoin Client 0.6.3

Do upgrade to the latest Bitcoin Client 0.6.3, and it is always a good practice to backup your wallet during the upgrading.

Bitcoin version 0.6.3 is now available for download at: http://sourceforge.net/projects/bitcoin/files/Bitcoin/bitcoin-0.6.3/ This is a bug-fix release, with no new features.



Fixed a serious denial-of-service attack that could cause the bitcoin process to become unresponsive. Thanks to Sergio Lerner for finding and responsibly reporting the problem. (CVE-2012-3789) Optimized the process of checking transaction signatures, to speed up processing of new block messages and make propagating blocks across the network faster. Fixed an obscure bug that could cause the bitcoin process to get stuck on an invalid block-chain, if the invalid chain was hundreds of blocks long. Bitcoin-Qt no longer automatically selects the first address in the address book (Issue #1384). Fixed minimize-to-dock behavior of Bitcon-Qt on the Mac. Added a block checkpoint at block 185,333 to speed up initial blockchain download.