Tagtransaction malleability

BitClub Attacks the Bitcoin Network with Transaction Malleability

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BitClub, a small bitcoin mining pool with around 4% of the network’s hardware share, has suddenly decided to attack the bitcoin network by malleating transactions causing confusion, potential theft, and nearly bringing blockchain.info down. Bither, a bitcoin wallet, publicly stated that the evidence shows transactions in block 456545, mined by BitClub, are malleability attack transactions. In the...

Karpeles faces immediate arrest in United States

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Karpeles faces arrest when traveling to US

In an article last week, CCN reported on a US judge ordering Mark Karpeles to travel to the United States for hearing if he wanted bankruptcy protection there. This seems unlikely to happen now. Arresting Karpeles A federal judge ordered Mark Karpeles to appear in Dallas on April 17 to explain how his company was able to lose at least $400 million worth of customer deposits. This seems highly...

CCN Week in Review: IRS Treats Bitcoin as Property, BTC Price Drops, Mt. Gox, and More

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CCN Week in Review: IRS Treats Bitcoin as Property, BTC Price Drops, Mt. Gox, and More

Another eventful week at CCN. We learned that the United States Internal Revenue Service (IRS) is treating bitcoin as property for tax purposes, that the bitcoin price dropped below $500, that transaction malleability did not bankrupt Mt. Gox, and more. Here are our top stories for the week of 24 March - 30 March in case you missed them. [youtube ] IRS Virtual Currency Guidance The United States...

BREAKING: Evidence That Transaction Malleability Did Not Bankrupt Mt. Gox

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Solid research has proven what many bitcoiners have long suspected; transaction malleability did not play a significant, if any, role in the disappearance of 850,000 BTC from Japanese exchange Mt. Gox. Christian Decker and Roger Wattenhofer of ETH in Zurich, Switzerland, combed through the blockchain to tally each instance of a potential transaction malleability attack in order to figure out...

The Bitcoin Foundation: Some Questions

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I've just spend a pleasant evening, nursing a cold beer, looking over The Bitcoin Foundation's posts and educating myself as to who exactly these people are and what they are bringing, or at least claiming to bring, to the table. Now, I've never claimed to be the sharpest knife in the proverbial drawer and for that particular reason I've decided that I will take this task slowly and stop to ask a...

The Problem: How to police crypto?

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We have a problem There is a problem with cryptocurrency, How do we police crypto? A big problem, and that problem is that many members of the general public see it as just another scam. Why do they believe this? Well, the fiasco at Mt Gox is one reason, the well publicised losses at Fortress are another, Flexcoin and Poloniex are just two more and then there are the cryptocoins they can buy on...

Mark T. Williams's Recent Bitcoin Article is Misinformation

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Mark T Williams Bitcoin

Finance Professor Mark T. Williams, also known as the guy who thinks bitcoins will trade for around $10 by mid-2014, recently wrote an article for Business Insider where he claimed Bitcoin has the power to "harm nations, economies, and global commerce". The basic premise of the article is that central bankers are "needed to spur economic growth" in various countries around the world. It seems...

Bitcoin Transaction Malleability - Lies Decrypted

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bitcoin transaction malleability

One week. Four headline events. Culprit: Transaction Malleability. Although the media grouped the events under the single banner of Transaction Malleability, a closer look reveals that the three incidents involving Mt.Gox, a DDoS attack, Silk Road 2.0 and the Bitcoin client were in fact each unique and in two cases not even related to transaction malleability at all. To understand Transaction...

Bitcoin Price Rebounds: Reports of Bitstamp Processing Withdrawals

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Bitstamp Withdrawals

Bitstamp customers on Reddit and bitcointalk are reporting that they are now able to make Bitcoin withdrawals. The price almost instantly recovered back to the $700+ level that was normal before the transaction malleability problems first began. As we reported yesterday, it seems the transaction malleability problem may have been overblown, especially when it came to the troubles at MtGox. This...

Breaking: Bitstamp to Resume Bitcoin Withdrawals Later Today

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Bitstamp Resume Bitcoin Withdrawals

Bitstamp has just released a statement about their intentions to resume Bitcoin withdrawals later today. It seems they've been able to implement the transaction malleability fixes created by Bitcoin developers, and they are now ready to fight back against the recent DDoS attacks. As of right now, there is no official word from MtGox on when they will be able to fix their own issues. Could This...

Bitcoin Developers: DDoS Fix is Ready

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Transaction Malleability Fix

Note: The quotes in this article are from the public Bitcoin IRC channel. The Bitcoin Core Developers have been working around the clock to implement fixes for a new version of the Bitcoin software that will address those aspects of the protocol that had made the recent Distributed Denial of Service (DDoS) attack possible. It must be stressed at the outset that the vulnerabilities being targeted...

Roger Ver is Betting on MtGox's Solvency

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Roger Ver MtGox

Roger Ver, also known as Bitcoin Jesus, is looking to buy MtGox bitcoins from people who believe the Bitcoin exchange may be insolvent. As reported yesterday, people are already selling their MtGox bitcoins at discounted rates on a new exchange that popped up overnight. Ver made a post on the bitcointalk forum where he stated his interesting in purchasing at least 100 bitcoins from other MtGox...

People are Selling Their MtGox Bitcoins at Discounted Rates

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MtGox Insolvency

Questions of insolvency have surrounded MtGox for roughly half a year, and it has now gotten to the point where some people are willing to sell their GoxBTC at a discounted rate. Whether they think Gox is playing with funny money or they just want to get out of the exchange right now for another reason, there seem to be plenty of people willing to sell their GoxBTC for less than what it should be...

Mt. Gox Blames Bitcoin - Core Developer Greg Maxwell Responds [Update: Further Technical Details]

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The market is reacting very negatively to the Gox announcement, falling ~$160 on high volume since the news.

Mt. Gox Official Statement Mt. Gox have just released their official statement regarding their recent decision to halt all Bitcoin withdrawals. Essentially, they are claiming they can't release customers' funds until a known bug in the Bitcoin protocol is resolved. Greg Maxwell Responds I spoke with Bitcoin core developer, Greg Maxwell, about this highly technical issue. Greg Maxwell and Peter...