Re: Bitstamp now needs 18,000 bitcoins to get back to where they were
Bitstamp have been running a fractional reserve for years. This hack story is an obvious lie, copied from Karpeles. During the next weeks we'll learn about Stamp's insolvency. Then they'll declare bankruptcy, and all your precious coins and fiat will be lost.
And if the story was true: What's stopping the thieves from hacking them again, stealing even more?
I would love to see where you get that information from. Bitstamp has been relatively open about their reserves for exactly this reason, consumer confidence.And if the story was true: What's stopping the thieves from hacking them again, stealing even more?
And about the hacking again theory; if you own a boat that has a hole in it, you don't let it sink to the bottom, you plug the hole and move on. Finding and fixing the leak is exactly why they have suspended their systems.
>relatively open
Stress on "relatively." Compared to BTC-e--yes, compared to a real financial institution--not even close.
>if you own a boat that has a hole in it
Boats carrying valuable cargo have hulls divided into watertight compartments, which could be easily sealed off under full steam. If the breach is truly catastrophic (Titanic), stopping in the middle of the ocean won't help--abandon ship.
Nice analogy tho, the parallels with interwebs security are hard to miss
