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Due to the credible threat of a pending attack on Namecoin, we are going to close both Namecoin withdraws/deposit AND trading soon.
The attack threat is to re-write the blockchain back to block 10,000.
https://bitcointalk.org/index.php?topic=43465.0
All Namecoin traders on Ruxum need to withdraw all of your coins from Ruxum as soon as possible.
We will be closing Namecoin trading and withdraw on Friday September 16, 2011 at 00:01 OR Namecoin block 19000, whichever comes sooner.
Please withdraw your Namecoin as soon as possible as we can not be responsible for Namecoins not withdrawn before the above deadline due to the nature of the threatened pending attack on Namecoin.
Namecoin trading, deposits and withdraw is fully operational before the deadline. Bitcoin trading, deposit and withdraw is not affected in any way.
We do not yet know if we will re-open Namecoin trading.
Thank you for your understanding.
UPDATE: Thurs Sept 15, 9:30pm EST
- It appears that the NMC blockchain has been forked. Both Bitparking and Ruxum have agreed to support the original blockchain with merged mining scheduled to start at 19200.
- NMC withdraw and deposit will close in 6 hours from now. We don't know when deposit and withdraw will open again so if you need your coins, please withdraw asap.
- NMC trading at Ruxum will remain open for the time being.
- For a fully operational exchange, we will require a fix for the time travel exploit + smooth transition to merged mining past block 19200.
- We are suggesting the NMC project provide a mandatory 0.63 release with these upgrades and other known exploits and that the time travel fix takes place also at 19200.
The attack threat is to re-write the blockchain back to block 10,000.
https://bitcointalk.org/index.php?topic=43465.0
All Namecoin traders on Ruxum need to withdraw all of your coins from Ruxum as soon as possible.
We will be closing Namecoin trading and withdraw on Friday September 16, 2011 at 00:01 OR Namecoin block 19000, whichever comes sooner.
Please withdraw your Namecoin as soon as possible as we can not be responsible for Namecoins not withdrawn before the above deadline due to the nature of the threatened pending attack on Namecoin.
Namecoin trading, deposits and withdraw is fully operational before the deadline. Bitcoin trading, deposit and withdraw is not affected in any way.
We do not yet know if we will re-open Namecoin trading.
Thank you for your understanding.
UPDATE: Thurs Sept 15, 9:30pm EST
- It appears that the NMC blockchain has been forked. Both Bitparking and Ruxum have agreed to support the original blockchain with merged mining scheduled to start at 19200.
- NMC withdraw and deposit will close in 6 hours from now. We don't know when deposit and withdraw will open again so if you need your coins, please withdraw asap.
- NMC trading at Ruxum will remain open for the time being.
- For a fully operational exchange, we will require a fix for the time travel exploit + smooth transition to merged mining past block 19200.
- We are suggesting the NMC project provide a mandatory 0.63 release with these upgrades and other known exploits and that the time travel fix takes place also at 19200.
Re: Open letter to online exchanges and wallets: use fractional reserve!
We have several strategies to ensure protection of our user's Bitcoin and other assets.
- multiple encrypted offline wallets
- online wallets are backed up at least hourly
- backups are encrypted and on separate physical servers
- backups are stored in at least two other different physical locations
- backups are stored in different legal jurisdictions (countries)
- ACL and other internal security policies
- multiple encrypted offline wallets
- online wallets are backed up at least hourly
- backups are encrypted and on separate physical servers
- backups are stored in at least two other different physical locations
- backups are stored in different legal jurisdictions (countries)
- ACL and other internal security policies
- never have heard of Doug Casey before this post anyway.
- his negative stance could have something to do with his investment interests
"Frankly, I cant see why anyone would, when theres already an electronic digital currency like Bitcoin but backed with gold: GoldMoney. I should disclose that Im a small investor in the company. But I have to say that I really do like GoldMoney. It does everything Bitcoin does or did but is backed by something of real value: gold. "
- his negative stance could have something to do with his investment interests
"Frankly, I cant see why anyone would, when theres already an electronic digital currency like Bitcoin but backed with gold: GoldMoney. I should disclose that Im a small investor in the company. But I have to say that I really do like GoldMoney. It does everything Bitcoin does or did but is backed by something of real value: gold. "
I was thinking maybe an "official" app submitted directly by the bitcoin team would have a better chance along with some talks / lobbying with apple. If that didn't work, they could do a public PR campaign about the rejection of the legit use of bitcoin.
It won't. Apple doesn't care who submits it, they care about how the client is used and what it's doing.
You can read the entire thread here: http://forum.bitcoin.org/?topic=5550.msg107980
I think does matter who, at least if you're really big. See how they rejects all apps featuring women showing anything more provocative then their ankles and calling it porn while accepting sports illustrateds app. In this case it probably won't matter though until the bitcoin-community grows a lot bigger. So for IOs it's probably better make a cloudbased system which would be out of Stevies reach.
I also think it matters who submits. A one man band developer vs. a very high profile public project for the greater good is a big difference.
If we are going to get the general population using it, they will need to send and get coins on the go. And pay for stuff in stores.
iPhone is a key piece of the puzzle IMHO.
I was thinking maybe an "official" app submitted directly by the bitcoin team would have a better chance along with some talks / lobbying with apple. If that didn't work, they could do a public PR campaign about the rejection of the legit use of bitcoin.
No, you can't fully tie an address to an individual. Especially if the money is spent into the economy beyond.
You could invalidate addresses containing the fradulent funds, and generate Bitcoins from nothing into a new address, so for example block 5000_from_now puts 20k BTC into a particular address, and the private key for this address (the wallet) is given to allinvain. Mining creates BTC from nothing so you could use a similar mechanism.
How would anyone prove any particular address contains "fraudulent funds"?
And what are "fraudulent funds" ? How are they defined?
If I lost my USB stick with a wallet on it and someone found it. Is that fraudulent? Or my stupidity for losing my wallet.
If I lost my real physical wallet, I would never expect to get the fiat money back, why should BTC be different?
Re: Will there realistically be another major advance in mining before we finish up?
I'm talking as major as it was to switch from CPU to GPU. Will there realistically be any such advance before we mine out all the BTC?
The rise of ASIC mining chips is going to be a pretty big jump, but after that there is no major advances foreable.
Exactly. What else could there be after ASIC which is specially designed CPU that is a dedicating mining chip?
Then who can design, build and sell the best arrays of ASICs I suppose.
Do you really think people are going to ever pay $200 for a Bitcoin? WHY?
Yes, they will.
Because bitcoin will get traction with the general public, more businesses will accept it and it is a limited resource. Price should go up in the long term.
(not sure about next week or next month, but long term it should go up if the project is a success)
Even if the stats are off for the difficulty change, it is an interesting topic to discuss. What are the effects if large farms come online. From gov't.? Private companies? Wall street? hackers?
The effects of each should be discussed for security reasons.
The effects of each should be discussed for security reasons.
Good idea for more bitcoin forums.
That huge blue banner at the top of your forum is distracting, you might want to make it less prominent if you want people to spend time there.
That huge blue banner at the top of your forum is distracting, you might want to make it less prominent if you want people to spend time there.