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Bitcoin: Does it have a future ?

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murchr		#521 Posted : Sunday, January 28, 2018 4:41:37 AM
Rank: Elder Joined: 2/26/2012 Posts: 15,980		Tokyo-based cryptocurrency exchange Coincheck has confirmed that it has suffered what appears to be the biggest hack in the history of the technology. In a press conference at 23:30 JST (14:30 UST), the exchange's president Wakata Koichi Yoshihiro and chief operating officer Yusuke Otsuka estimated its loss at 58 billion yen (approx. $533 million). According to Bloomberg, which attended the conference, 500 million NEM tokens were taken from Coincheck's digital wallets. Tweets by Nikkei appeared to indicate that the precise amount stolen may not be fully known until further checks have been carried out into the intrusion. But though the exact dollar figure for the incident is hard to pin down (given the volatile nature of cryptocurrencies and the company's lack of information), data suggests the figure is now at least over $400 million, factoring for a decline in the value of XEM, the NEM protocol's token, following the incident. "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore .
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Spikes		#522 Posted : Sunday, January 28, 2018 7:44:56 AM
Rank: Elder Joined: 9/20/2015 Posts: 2,811 Location: Mombasa		murchr wrote: Tokyo-based cryptocurrency exchange Coincheck has confirmed that it has suffered what appears to be the biggest hack in the history of the technology. In a press conference at 23:30 JST (14:30 UST), the exchange's president Wakata Koichi Yoshihiro and chief operating officer Yusuke Otsuka estimated its loss at 58 billion yen (approx. $533 million). According to Bloomberg, which attended the conference, 500 million NEM tokens were taken from Coincheck's digital wallets. Tweets by Nikkei appeared to indicate that the precise amount stolen may not be fully known until further checks have been carried out into the intrusion. But though the exact dollar figure for the incident is hard to pin down (given the volatile nature of cryptocurrencies and the company's lack of information), data suggests the figure is now at least over $400 million, factoring for a decline in the value of XEM, the NEM protocol's token, following the incident. Never store coins in digital wallets . Offline wallets is the way to go. John 5:17 But Jesus replied, “My Father is always working, and so am I.”
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kayhara		#523 Posted : Sunday, January 28, 2018 9:26:44 AM
Rank: Veteran Joined: 5/5/2011 Posts: 1,059		Question, when a NORMAL bank is robbed eg the Thika KCB heist, depositors don't actually lose their deposits, what about the digital coins ? is hacked equal to loss to holders? To Each His Own
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Stiffler		#524 Posted : Sunday, January 28, 2018 1:03:18 PM
Rank: Member Joined: 11/7/2017 Posts: 186 Location: Nairobi		kayhara wrote: Question, when a NORMAL bank is robbed eg the Thika KCB heist, depositors don't actually lose their deposits, what about the digital coins ? is hacked equal to loss to holders? Similar concept, even in Crypto, the holders are compensated, in or form or the other
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Museveni		#525 Posted : Sunday, January 28, 2018 2:04:03 PM
Rank: Member Joined: 8/16/2012 Posts: 661		mnandii wrote: Quote: When powerful new technologies emerge, they attract droves of investors. We saw it with the internet sector in the late 1990s. At the time, we described it as a bubble in the making. Obviously the internet survived the bubble--and now thrives. But many investors' portfolios didn't. We expect the same with Bitcoin. The blockchain technology that's behind it and other cryptocurrencies holds great potential. But unprepared investors, oblivious to the big picture, will see -- and have already seen -- their positions get run over. "I WOULDN'T TOUCH BITCOIN: RISK OF COLLAPSE TOO BIG", DEC 2017 Quote: The Winklevoss twins cut up the key to their $1.3 billion bitcoin fortune and keep each piece in different bank vaults People laughed at the Winklevoss twins in 2012 when they started buying bitcoin — but now, as their fortune has reached $1.3 billion, no one's laughing anymore. Brothers Cameron (L) and Tyler Winklevoss talk to each other as they attend a New York State Department of Financial Services (DFS) virtual currency hearing in the Manhattan borough of New York January 28, 2014. REUTERS/Lucas Jackson play Brothers Cameron (L) and Tyler Winklevoss talk to each other as they attend a New York State Department of Financial Services (DFS) virtual currency hearing in the Manhattan borough of New York January 28, 2014. REUTERS/Lucas Jackson (Thomson Reuters) The Winklevoss twins, known for suing Mark Zuckerberg, started buying bitcoin in 2012. Their bitcoin holdings are now worth $1.3 billion, The New York Times reported. The twins keep the private key for their bitcoin fortune in multiple pieces in bank vaults around the country. People laughed at the Winklevoss twins in 2012 when they started buying up bitcoin... Quote: The two Harvard-educated entrepreneurs bought about 120,000 bitcoins when they were less than $10 each, using funds they got from settling a lawsuit against Mark Zuckerberg over their claim that they came up with the idea for Facebook. 120,000 bitcins at around 1000 Kes each Today no matter what the price is the twins will always be smiling. Live and learn; and don’t forget, nothing ventured, nothing gained.
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murchr		#526 Posted : Sunday, January 28, 2018 4:38:07 PM
Rank: Elder Joined: 2/26/2012 Posts: 15,980		Stiffler wrote: kayhara wrote: Question, when a NORMAL bank is robbed eg the Thika KCB heist, depositors don't actually lose their deposits, what about the digital coins ? is hacked equal to loss to holders? Similar concept, even in Crypto, the holders are compensated, in or form or the other By who? When your wallet is gone it'd gone. I heard that some people who bought bitcoin but crushed their computers are crying in the toilet. One is trying to sue the city council for not allowing them to go through mountains of trash in search of his hard drive. "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore .
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Stiffler		#527 Posted : Sunday, January 28, 2018 7:10:44 PM
Rank: Member Joined: 11/7/2017 Posts: 186 Location: Nairobi		murchr wrote: Stiffler wrote: kayhara wrote: Question, when a NORMAL bank is robbed eg the Thika KCB heist, depositors don't actually lose their deposits, what about the digital coins ? is hacked equal to loss to holders? Similar concept, even in Crypto, the holders are compensated, in or form or the other By who? When your wallet is gone it'd gone. I heard that some people who bought bitcoin but crushed their computers are crying in the toilet. One is trying to sue the city council for not allowing them to go through mountains of trash in search of his hard drive. Some exchanges do refund their customers in one form or the other. Read Bitfinex and the recent Coincheck hack
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Stiffler		#528 Posted : Sunday, January 28, 2018 7:12:14 PM
Rank: Member Joined: 11/7/2017 Posts: 186 Location: Nairobi		murchr wrote: Stiffler wrote: kayhara wrote: Question, when a NORMAL bank is robbed eg the Thika KCB heist, depositors don't actually lose their deposits, what about the digital coins ? is hacked equal to loss to holders? Similar concept, even in Crypto, the holders are compensated, in or form or the other By who? When your wallet is gone it'd gone. I heard that some people who bought bitcoin but crushed their computers are crying in the toilet. One is trying to sue the city council for not allowing them to go through mountains of trash in search of his hard drive. Some exchanges do refund their customers in one form or the other. Read Bitfinex and the recent Coincheck hack
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Stiffler		#529 Posted : Sunday, January 28, 2018 7:15:24 PM
Rank: Member Joined: 11/7/2017 Posts: 186 Location: Nairobi		murchr wrote: Stiffler wrote: kayhara wrote: Question, when a NORMAL bank is robbed eg the Thika KCB heist, depositors don't actually lose their deposits, what about the digital coins ? is hacked equal to loss to holders? Similar concept, even in Crypto, the holders are compensated, in or form or the other By who? When your wallet is gone it'd gone. I heard that some people who bought bitcoin but crushed their computers are crying in the toilet. One is trying to sue the city council for not allowing them to go through mountains of trash in search of his hard drive. Some exchanges do refund their customers in one form or the other. Read Bitfinex and the recent Coincheck hack
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Spikes		#530 Posted : Sunday, January 28, 2018 10:11:58 PM
Rank: Elder Joined: 9/20/2015 Posts: 2,811 Location: Mombasa		https://www.theguardian....o-make-bitcoin-transfer I'll never make it public to anybody that I do trade cryptos. A new wave of opportunistic criminal gangs will crop up and take advantage of a quick transfer of funds at gunpoint. John 5:17 But Jesus replied, “My Father is always working, and so am I.”
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