JoelKatz



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Democracy is vulnerable to a 51% attack.







LegendaryActivity: 1596Merit: 1010Democracy is vulnerable to a 51% attack. Re: Copy of the alleged MTGox Crisis draft strategy February 25, 2014, 02:20:36 AM #4 Parts of this seem very plausible and unlikely to be made up but parts of it sound extremely implausible and almost certainly made up. That leaves the possibility that it's a real document that's been altered to make a different point than the actual document does. But it's hard to imagine who would have access to the real document and an incentive to do that. So, basically, I wouldn't draw any conclusions from this.



Maybe someone wants to push the price of Bitcoin down and buy on the dip and went to a lot of trouble to construct the parts that appear plausible to try to get people to buy the parts that seem implausible?



(Oddly, if people were rational, this should cause the price of Bitcoins to go up.)

I am an employee of Ripple. Follow me on Twitter @JoelKatz

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bitcool



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Live and enjoy experiments







LegendaryActivity: 1441Merit: 1000Live and enjoy experiments Re: Copy of the alleged MTGox Crisis draft strategy February 25, 2014, 02:20:45 AM #5 Quote the cold storage has been wiped out due to a leak in the hot wallet



I like this scenario, it fits their level of intelligence

I like this scenario, it fits their level of intelligence

btc4ever



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Sr. MemberActivity: 321Merit: 250 Re: Copy of the alleged MTGox Crisis draft strategy February 25, 2014, 02:28:19 AM #8



Whether that actually happened or not, I have no idea. But just saying that the quote itself can make some sense in this context.



Quote the cold storage has been wiped out due to a leak in the hot wallet



People have made a lot of fun of this quote, and I agree it is a bit retarded. However, I can sort of see it making sense in the scenario that gox has been continually defrauded ( via malleability issue or whatever ) and has for a long time now been moving coins from cold storage (savings) into active use to cover the losses.Whether that actually happened or not, I have no idea. But just saying that the quote itself can make some sense in this context. Psst!! Wanna make bitcoin unstoppable? Why the Only Real Way to Buy Bitcoins Is on the Streets . Avoid banks and centralized exchanges. Buy/Sell coins locally. Meet other bitcoiners and develop your network. Try localbitcoins.com or find or start a buttonwood / satoshi square in your area. Pass it on!

eldentyrell

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felonious vagrancy, personified







DonatorLegendaryActivity: 980Merit: 1001felonious vagrancy, personified Re: Copy of the alleged MTGox Crisis draft strategy February 25, 2014, 02:31:59 AM #10 Such a hoax.



No company is dumb enough to put stuff like this in writing, even when it's true.



"Cold storage has been wiped out due to a leak in the hot wallet" is incoherent yammering.



All the data are in the blockchain. If an attack like this really had been going on for years as the document alleges, it would be possible to verify this (and I'm sure somebody would have). Mutated transactions can be detected after-the-fact and with high (but not 100%) probability, so a long-running theft on this scale would leave undeniable evidence that it had occurred. Just like the android random-number-generator vulnerability, people would have called attention to the attack's trail of evidence in the blockchain.



PS, to put bitcoin "back ~5-10 years" would be before cryptocurrencies existed. Come on. The printing press heralded the end of the Dark Ages and made the Enlightenment possible, but it took another three centuries before any country managed to put freedom of the press beyond the reach of legislators. So it may take a while before cryptocurrencies are free of the AML-NSA-KYC surveillance plague .

notig



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Sr. MemberActivity: 294Merit: 250 Re: Copy of the alleged MTGox Crisis draft strategy February 25, 2014, 02:34:19 AM #11 serious question...... I have an armory wallet. I have a "watching only " wallet that watches my offline wallet. My offline wallet is composed of many keys. So is it really that difficult for an exchange who have funds in cold storage to have some kind of live ticker that shows their cold storage balance? Wouldn't it be incredibly easy to watch your balance of your cold storage even though it may be spread across many keys or even broken into several part keys (The public key isn't broken right? )