BitCoin fraud, theft - GoFuckYourself.com

Brujah · 06-19-2011, 10:10 AM

Anyone who loses their wallet.dat file has no way of recovering the Bitcoins it contains, since the currency has no central authority to appeal to. One Bitcoin early-adopter discovered just how painful this can be when they lost 25,000 Bitcoins to a hacking attack - worth around $500,000 at the time of the theft.

http://www.newscientist.com/blogs/on...ts-are-on.html

BlackCrayon · 06-19-2011, 10:11 AM

i don't get this whole bitcoin thing...

Agent 488 · 06-19-2011, 10:12 AM

they should contact their local police department or internet cyber crimes division.

u-Bob · 06-19-2011, 10:13 AM

Anyone who loses their wallet has no way of recovering the dollars it contains.....

seeandsee · 06-19-2011, 10:18 AM

Quote:

Originally Posted by Brujah

Anyone who loses their wallet.dat file has no way of recovering the Bitcoins it contains, since the currency has no central authority to appeal to. One Bitcoin early-adopter discovered just how painful this can be when they lost 25,000 Bitcoins to a hacking attack - worth around $500,000 at the time of the theft.

http://www.newscientist.com/blogs/on...ts-are-on.html

is that for real, where to sell that?

Agent 488 · 06-19-2011, 10:19 AM

Quote:

Originally Posted by seeandsee

is that for real, where to sell that?

https://mtgox.com/

Chosen · 06-19-2011, 10:29 AM

Quote:

Originally Posted by seeandsee

is that for real, where to sell that?

There were a few bitcoin threads on GFY lately, so I guess it's for real

fris · 06-19-2011, 11:33 AM

no way will it ever become a serious payment medium

Agent 488 · 06-19-2011, 11:35 AM

too volatile right now. in the time you find someone to exchange them they could be worthless.

L-Pink · 06-19-2011, 11:45 AM

Quote:

Originally Posted by BlackCrayon

i don't get this whole bitcoin thing...

Me either.

.

Agent 488 · 06-19-2011, 11:49 AM

Quote:

Originally Posted by L-Pink

Me either.

.

think ben bernake replaced by a dungeon master and adam smith by gary gygax.

Wizzo · 06-19-2011, 04:30 PM

WOW gold is more stable and won't get hammered by the governments around the world and though Bitcoins are worth more now, they won't be for long...

DBS.US · 06-19-2011, 04:41 PM

Why would anyone keep $500,000 in any account like that? Shit I never keep over $100 in my Paypal.

rowan · 06-19-2011, 05:23 PM

Quote:

Originally Posted by DBS.US

Why would anyone keep $500,000 in any account like that? Shit I never keep over $100 in my Paypal.

Probably because the value is so volatile. A year ago 25,000BTC was worth fuck all. Can you imagine a modest investment growing by 100 or 1,000 times in a year or two? I guess he got caught by greed (and a little stupidity by not properly securing his wallet)

The other catch with wallets is that it doesn't need to be a CURRENT copy in order for someone to take over and send your BTC to somewhere else. If you throw out a HD that has an obscure backup of a wallet from 3 years ago, and some or all of those coins have not yet been spent by you, whoever acquires that old wallet can get at them.

It's relatively easy to get started with bitcoins but there's a lot to get your head around. Security is possibly the most important part, since you cannot have an authority reverse a fraudulent transaction, yet many people are probably blissfully unaware of what can happen if you don't secure your wallet.

Agent 488 · 06-19-2011, 05:26 PM

the money was most likely stolen with the aid of the bitcoin wallet targeting tojan making the rounds.

plus there is the problem of finding enough people to make the conversions into real currency.

Serge Litehead · 06-19-2011, 06:36 PM

if you loose cash - it's most likely gone

Agent 488 · 06-19-2011, 06:40 PM

if someone hacking into my bank account, puts fraudulent charges on my cc = covered.

if someone hacks my bitcoin wallet = not covered.

GAMEFINEST · 06-19-2011, 06:40 PM

they need to contact somebody

adultzone · 06-19-2011, 06:49 PM

I really dont understand about bitcoin

epitome · 06-19-2011, 06:54 PM

At what point, if ever, does bitcoin become currency?

Or is it more of a way to track bartering? Would someone pay a designer in 500 bitcoin who would turn around and give it to their host to cover their monthly cost and so-on?

I take it there is no way to cash out for government currency? Or is there?

Serge Litehead · 06-19-2011, 07:53 PM

Quote:

Originally Posted by epitome

At what point, if ever, does bitcoin become currency?

Or is it more of a way to track bartering? Would someone pay a designer in 500 bitcoin who would turn around and give it to their host to cover their monthly cost and so-on?

I take it there is no way to cash out for government currency? Or is there?

This is how it works:

For each new transaction you can generate new unique address. If both clients use unique, only known to them addresses, you won't be able to track where exactly those bitcoins went after you've sent them, and with such you won't be able to trace any other transactions.

If whoever you send bitcoins and their receiving parties use single addresses, made publicly available, then these coins could be traced and know to whom they went.

Agent 488 · 06-19-2011, 08:02 PM

Quote:

Originally Posted by epitome

At what point, if ever, does bitcoin become currency?

Or is it more of a way to track bartering? Would someone pay a designer in 500 bitcoin who would turn around and give it to their host to cover their monthly cost and so-on?

I take it there is no way to cash out for government currency? Or is there?

there are exchanges to cash out bitcoins into real currency but after the biggest exchange (90% of all the transactions) got hacked last week and their database of passwords dumped online they are shut down for now, as is the second biggest exchange.

but with valuations of bitcoins oscillating so wildly - from 0 to 30 now down to 0 today - i can't see how you effectively price anything in bt until the price stabilizes somewhat, which wont happen for a very very long time.

u-Bob · 06-20-2011, 02:59 AM

Quote:

Originally Posted by epitome

At what point, if ever, does bitcoin become currency?

Or is it more of a way to track bartering? Would someone pay a designer in 500 bitcoin who would turn around and give it to their host to cover their monthly cost and so-on?

any intermediary medium of exchange is per definition money. people are already using bitcoins to pay hosting bills, domain registrations, designers etc

Emil · 06-20-2011, 03:04 AM

Quote:

Originally Posted by DBS.US

Why would anyone keep $500,000 in any account like that? Shit I never keep over $100 in my Paypal.

Yeah, I would put 450,000 on a USB-memory and burn it out on CDs and just keep it in the closet.

rowan · 06-20-2011, 03:59 AM

Quote:

Originally Posted by Emil

Yeah, I would put 450,000 on a USB-memory and burn it out on CDs and just keep it in the closet.

Coming soon no doubt: a trojan that hunts your hard drive sectors for the footprints of a deleted wallet.dat file. As I mentioned above, an updated wallet doesn't supercede any previous copies, so an older version may still let an attacker clear you out.

nation-x · 06-20-2011, 06:04 AM

Bitcoin is doomed anyway... my opinion.

PornGreen · 06-20-2011, 07:55 AM

Quote:

Originally Posted by Brujah

when they lost 25,000 Bitcoins to a hacking attack - worth around fuck all because no one is going to pay $500,000 for your worthless bitcoins.

fixed this for you

rowan · 06-20-2011, 11:14 AM

martinsc · 06-20-2011, 11:40 AM

Quote:

Originally Posted by rowan

CaptainHowdy · 06-20-2011, 12:24 PM

Quote:

Originally Posted by Agent 488

they should contact their local police department or internet cyber crimes division.

JamesGw · 06-20-2011, 02:33 PM

Bitcoins area cool idea, but I dont' think they'll stick for this reason and a few others.

mayabong · 06-20-2011, 05:54 PM

Quote:

Originally Posted by BlackCrayon

i don't get this whole bitcoin thing...

I dont get the whole twitter thing, but yep there it is.

Jakez · 06-20-2011, 06:38 PM

Quote:

Originally Posted by BlackCrayon

i don't get this whole bitcoin thing...

rowan · 06-20-2011, 06:50 PM

Quote:

Originally Posted by CaptainHowdy

C'mon, no one's come up with a joke about the cyber police backtracing the transactions? It's perfect for bitcoins!

Coup · 06-20-2011, 06:52 PM

bitcoin is bullshit

Agent 488 · 06-20-2011, 06:53 PM

bitcoin in the people's currency.

06-19-2011, 10:10 AM	#1
Brujah Beer Money Baron Industry Role: Join Date: Jan 2001 Location: brujah / gmail Posts: 22,157	BitCoin fraud, theft Anyone who loses their wallet.dat file has no way of recovering the Bitcoins it contains, since the currency has no central authority to appeal to. One Bitcoin early-adopter discovered just how painful this can be when they lost 25,000 Bitcoins to a hacking attack - worth around $500,000 at the time of the theft. http://www.newscientist.com/blogs/on...ts-are-on.html __________________ Free Premium Domain Lists and Tools at Clickmojo.com For Sale: Obscenity.com

06-19-2011, 10:11 AM	#2
BlackCrayon Too lazy to set a custom title Join Date: Jun 2003 Location: Ottawa Posts: 19,631	i don't get this whole bitcoin thing... __________________ you don't know you're wearing a leash if you sit by the peg all day..

06-19-2011, 11:33 AM	#8
fris Too lazy to set a custom title Industry Role: Join Date: Aug 2002 Posts: 55,359	no way will it ever become a serious payment medium __________________ Since 1999: 69 Adult Industry awards for Best Hosting Company and professional excellence. WP Stuff

06-19-2011, 04:30 PM	#12
Wizzo 2011 GFY Hall of Fame! Industry Role: Join Date: Nov 2000 Location: Back in Texas! Posts: 15,224	WOW gold is more stable and won't get hammered by the governments around the world and though Bitcoins are worth more now, they won't be for long... __________________ Looking for Opportunity!

06-19-2011, 04:41 PM	#13
DBS.US Geo Cities Industry Role: Join Date: Aug 2003 Location: North Captiva Island, Florida USA Posts: 11,830	Why would anyone keep $500,000 in any account like that? Shit I never keep over $100 in my Paypal. __________________ Make a Free Chaturbate White Label site in 34 minutes and be making money tonight

06-19-2011, 10:12 AM	#3
Agent 488 Registered User Industry Role: Join Date: Feb 2006 Posts: 22,511	they should contact their local police department or internet cyber crimes division.

06-19-2011, 10:13 AM	#4
u-Bob there's no $$$ in porn Industry Role: Join Date: Jul 2005 Location: icq: 195./568.-230 (btw: not getting offline msgs) Posts: 33,063	Anyone who loses their wallet has no way of recovering the dollars it contains.....

06-19-2011, 11:35 AM	#9
Agent 488 Registered User Industry Role: Join Date: Feb 2006 Posts: 22,511	too volatile right now. in the time you find someone to exchange them they could be worthless.

06-19-2011, 05:26 PM	#15
Agent 488 Registered User Industry Role: Join Date: Feb 2006 Posts: 22,511	the money was most likely stolen with the aid of the bitcoin wallet targeting tojan making the rounds. plus there is the problem of finding enough people to make the conversions into real currency.

06-19-2011, 06:36 PM	#16
Serge Litehead Confirmed User Industry Role: Join Date: Dec 2002 Location: Behind the scenes Posts: 5,190	if you loose cash - it's most likely gone __________________ SilverCrocodile.com Adult web design since '05 Last edited by Serge Litehead; 06-19-2011 at 06:38 PM..

06-19-2011, 06:40 PM	#17
Agent 488 Registered User Industry Role: Join Date: Feb 2006 Posts: 22,511	if someone hacking into my bank account, puts fraudulent charges on my cc = covered. if someone hacks my bitcoin wallet = not covered.

06-19-2011, 06:40 PM	#18
GAMEFINEST Make STACK$ Industry Role: Join Date: Nov 2006 Location: sexy time Posts: 14,424	they need to contact somebody __________________ Compound interest.

06-19-2011, 06:49 PM	#19
adultzone So Fucking Banned Industry Role: Join Date: May 2010 Location: Southeast Asia (Philippines) Posts: 1,499	I really dont understand about bitcoin

06-19-2011, 06:54 PM	#20
epitome So Fucking Lame Industry Role: Join Date: Jun 2009 Location: St. Petersburg, FL Posts: 12,156	At what point, if ever, does bitcoin become currency? Or is it more of a way to track bartering? Would someone pay a designer in 500 bitcoin who would turn around and give it to their host to cover their monthly cost and so-on? I take it there is no way to cash out for government currency? Or is there?

06-20-2011, 06:04 AM	#26
nation-x Confirmed User Industry Role: Join Date: Mar 2004 Location: Rock Hill, SC Posts: 5,370	Bitcoin is doomed anyway... my opinion.

06-20-2011, 11:14 AM	#28
rowan Too lazy to set a custom title Join Date: Mar 2002 Location: Australia Posts: 17,393

06-20-2011, 02:33 PM	#31
JamesGw Confirmed User Industry Role: Join Date: Apr 2011 Posts: 1,237	Bitcoins area cool idea, but I dont' think they'll stick for this reason and a few others. __________________ Giggles.com has a huge selection of sex toys. Need backlinks? Ask to guest post on our adult blog.

06-20-2011, 06:52 PM	#35
Coup 🚨 PBBC International 🚨 Industry Role: Join Date: Apr 2010 Location: /👁\ Posts: 9,931	bitcoin is bullshit

06-20-2011, 06:53 PM	#36
Agent 488 Registered User Industry Role: Join Date: Feb 2006 Posts: 22,511	bitcoin in the people's currency.