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[Official] BitCoin LiteCoin DigitalCoin and all Crypto Currencies Club And General Information Thread - Page 343

post #3421 of 22339
Quote:
Originally Posted by barkinos98 View Post

Ughh updating them blocks is taking too long...
after a 7 hour sleep its still 15w behind :/
You doing the bitcoin wallet or the litecoin one? Takes a little longer for the bitcoin one.

really not concerned about theft, just keep your stuff off-line when not trading.
Edited by BackwoodsNC - 11/28/13 at 5:27am
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post #3422 of 22339
this cold is doing wonders for my room and miners.

8c ambient smile.gif

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post #3423 of 22339
Quote:
Originally Posted by skupples View Post

I know i never post here, but I do tend to lurk & follow, always on the going back and forth as to if I should get down with the cuda client with my 3 titans & 3930k. Theft is one of my biggest concerns. Seems like it's been on the rise lately, & with no regulation theft is/can be easily committed without threat of prosecution. Seems now that the Chinese Government is heavily interested/vested in crypto, things like this may start happening more & more. It seems weekly that my web news app has a bitcoin theft story in it. Hell, the hosts of the wallets them selves could easily clean house and simply say "idk!" though, it would quickly place them on the black list.

Yeah, despite cryptos themselves being quite secure, we still have to rely on often dubious exchanges to convert funds to other currencies, at least if we want to do so in any volume with any reliability.

However, there is regulation already. Most of the same rules that apply to similar services for fiat currency are supposed to apply to these exchanges. Legal process and procedure certainly lags behind the economic and technological innovations of our times though.

For the immediate future it will probably remain a case of trader beware, and the only thing I can really recommend is to make sure security is tight on your end, to stay away from disreputable exchanges (like MtGox) all together, and to carefully read the terms of the others.
Quote:
Originally Posted by BackwoodsNC View Post

really not concerned about theft, just keep your stuff off-line when not trading.

I normally do.

In my case, the majority of what I had on Gox was there for less than 24 hours before they were lifted, and wouldn't have been there at all if Gox had ever informed me that they had canceled my preferred withdrawal method. I had no intention of leaving anything significant in the account for longer than it was going to take me to setup another way to remove it. I checked all back emails, and Gox never once contacted me about anything other than transactions, and I never disabled any notifications.

Anyway, quick in and out trading isn't even possible on GoX. There are multitudes of delays in both depositing and withdrawing funds, and it can be extremely difficult to trade effectively without access to limit orders.
Quote:
Originally Posted by t0rx View Post

Man people keep getting goxed it sucks to here.. Guys.. If your on windows use something to encrypt the text your type like "keyscrambler". Use something like lastpass and generate long 55-100 character passwords and then actually use lastpass or an other pw manager so you dont enter you passwords over and over again on your terminal. Use 2factor Authentication! Be diligent and dont do your bitcoin stuff on your regular pc.. just buy a cheap netbook and do all your btc "transactions" on that and keep it whistle clean! The phone is not your friend, if your rocking some random rom on a rooted droid or a jailbroken iphone with a bunch of side stepped apps i suggest you not bitcoin on your phone!

All good advice in general, however, the only thing here I was lacking was two factor authentication, which should not be necessary. The methods Gox offered were not made know to me until I logged into my account to get an deposit address, and of the three choices none were appealing. The Ubikey was a physical object that would have to have been sent to me that I would not have been comfortable keeping track of; the first software authenticator was Google, which I am trying to avoid; and the final option cost 50 dollars. I should not need to spend 50 dollars to expect some modicum of security. And I don't even have a smartphone, so I'm sure not using Gox on my phone.

Like I said, I'm fairly convinced the security breach was on their end, not mine. I'm inclined to think that someone with access to my information at Gox is poking around for accounts without two-factor authentication and dumping funds into a personal stash, leaving Gox with plausible denyability when it comes to questions of security. Their terms of service agreement absolves them from all responsibility for anything but the most blatant issues.

In the end MtGox sets up all these hoops and hurdles to ensure who I am when I am trading there, yet they offer exactly nothing in return. It's like it's all for show, so they can present themselves as a responsible legitimate business, then they ignore their responsibilities to protect my money while it's in their possession. I get better, more rational, security treatment from the Russian mob over at BTC-e. Hell, when I log in from a new location, which doesn't even have to be China, they even ask me a security question.

I did make one critical mistake. I allowed myself to use Gox. When I registered, they were the only significant exchange, so I accepted the flaws and inherent risks. The second that changed, the second other options were viable, I should have have written Gox off forever; the warning signs were there, but I ignored them because Gox had advantageous prices.

MtGox got back to me with some prepared statement of nonsense, with a pile of suggestions that I had already implemented at the time of the theft, and encouraging me to notify the police. Yeah, like the police are going to be able to go after anyone in China, if they even cared, or even knew what any of this was about. What a farce. I don't really even care about going after whoever it has that has my money now (assuming it's not someone related to Gox); they had no contract with me, no responsibility to respect my property. It's Gox who had that responsibility and Gox who violated my trust.

Instead, I contacted a legal firm I am familiar with, and we a going to do our best to start a class action against MtGox (or rather I will join one already in the initial stages). Despite Gox's attempts to absolve themselves from any responsibility for security, we feel there may be a way to demonstrate that they have been negligent. Certainly, there are enough stories similar to mine to raise serious red flags, and garner enough support to press legal action. It's probably going to cost me a lot more than what I lost, but it will cost Gox even more (financially and otherwise), maybe enough to force them to consider real security, and some form of reimbursement for damages when that security fails.
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post #3424 of 22339
so... nub question inc... Is it worth it to cuda mine these day's? Would be using 3x titans, and a 3930k.
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post #3425 of 22339
Quote:
Originally Posted by skupples View Post

so... nub question inc... Is it worth it to cuda mine these day's? Would be using 3x titans, and a 3930k.

At this price, yes

Use cudaminer

I think the titans get like 300 KH/s
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post #3426 of 22339
Quote:
Originally Posted by test tube View Post

At this price, yes

Use cudaminer

I think the titans get like 300 KH/s

It's crazy really. Open the news paper, front page. BIT COIN 1,000$ PEAK! NOW ACCEPTED IN MAJOR CITIES ACROSS THE US!
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post #3427 of 22339
Quote:
Originally Posted by skupples View Post

so... nub question inc... Is it worth it to cuda mine these day's? Would be using 3x titans, and a 3930k.

Bitcoins directly? No.

Litecoins (which you can then convert to BTC if you wish), yes.
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post #3428 of 22339
Quote:
Originally Posted by test tube View Post

At this price, yes

Use cudaminer

I think the titans get like 300 KH/s

That's not bad, until you compare it to a 6970 that gets 500kH/s+ wink.gif
 
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post #3429 of 22339
LTC at $40+... what will tomorrow bring? $60+, more? lol

This is ridiculous. (in the best possible way ever) biggrin.gif

GET YOUR GPU'S GOING, I expect difficulty will start climbing at a good pace with this sort of backing.
post #3430 of 22339
Too complicated for me. Would like to, but too lazy to get my tri-titans going.
now then, tell me i'm capable of farming 100$+ a day and i'll get real unlazy real fast.
Edited by skupples - 11/28/13 at 10:06am
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