Online Cash Bitcoin Could Challenge Governments, Banks

Discussion in 'privacy general' started by nightrace, Apr 16, 2011.

  1. Minimalist

    Minimalist Registered Member

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    Bitcoin: Offline wallets seen vulnerable to security attacks
    http://www.ibtimes.co.uk/bitcoin-offline-wallets-seen-vulnerable-security-attacks-1483826

     
  2. lotuseclat79

    lotuseclat79 Registered Member

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  3. Palancar

    Palancar Registered Member

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    Last edited: Jan 19, 2015
  4. Palancar

    Palancar Registered Member

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    Regarding ECDSA attacks: I am throwing up a link to deterministic wallets, which are simple to use. Since the address is always changing it will defeat this exploit. This link is very basic and there are some "math crunch" threads around. This is a basic response only.


    http://www.bitblogger.net/2014/04/23/deterministic-wallets/
     
  5. ronjor

    ronjor Global Moderator

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  6. Dermot7

    Dermot7 Registered Member

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    Schneier on Security: Tracking Bitcoin Scams
     
  7. Veeshush

    Veeshush Registered Member

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    Inside the Chinese Bitcoin Mine That's Making $1.5M a Month
    http://motherboard.vice.com/read/chinas-biggest-secret-bitcoin-mine

    Video here: https://www.youtube.com/watch?v=K8kua5B5K3I
     
    Last edited by a moderator: Feb 6, 2015
  8. Palancar

    Palancar Registered Member

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    Huge by any standard I have seen.

    Related: my bitcoin trades have been processing at lightning speed lately. Is it just me? Last one got over 20 confirmations so fast I couldn't believe it, and its way more now.
     
  9. ronjor

    ronjor Global Moderator

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  10. ronjor

    ronjor Global Moderator

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  11. ronjor

    ronjor Global Moderator

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  12. Palancar

    Palancar Registered Member

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    It is clear to trained students of Bitcoin that any exchange wallet is NOT the way to go. Maybe for novelty < 1 BTC transactions/wallets its OK. Regardless of what security protocols are in place you are in fact trusting your coins to an Admin of some kind when an exchange is involved. EVEN if the exchange contends the majority of their coins are stored cold/offline, it doesn't resolve the issue at hand. Namely: someone other than YOU has credentials to access the exchange at the Admin level. It is not very difficult to do some reading and then learn how to store your coins COLD and offline. I am convinced that many use exchange wallets because they don't want to endure the learning curve and then they will never know how to do it themselves.

    Its really just like internet security. Some will study and take it to the "next level". Others will come and look for a solution some company has created for them. Then they put their internet security and/or their bitcoins in the hand of the company they trust. Surprise, the company is not that good and they get burned. Same story, different channel.
     
  13. mirimir

    mirimir Registered Member

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    https://purse.io/

    It's basically an exchange, connecting 1) people with Amazon gift cards, who want Bitcoins, and 2) people with Bitcoins, who want stuff from Amazon. People who want Bitcoins are typically willing to pay a premium, and the people with Bitcoins get most of that as a discount on their stuff from Amazon.

    There is the minor complication that Amazon gift cards are sometimes purchased with stolen credit cards :( Which may lead to unpleasantness. See http://www.coindesk.com/purse-io-offers-10000-cover-to-users/
     
  14. ronjor

    ronjor Global Moderator

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    http://techcrunch.com/2015/02/21/the-bitcoin-jet-or-how-does-cryptocurrency-go-mainstream/
     
  15. ronjor

    ronjor Global Moderator

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    http://blogs.wsj.com/digits/2015/02/23/rakuten-probably-to-accept-bitcoin/
     
  16. siljaline

    siljaline Registered Member

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  17. Palancar

    Palancar Registered Member

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  18. siljaline

    siljaline Registered Member

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    How Hackers Abused Tor To Rob Blockchain, Steal Bitcoin, Target Private Email And Get Away With It
    http://www.forbes.com/sites/thomasb...nd-darknet-hacks-lead-to-epic-bitcoin-losses/
     
  19. Palancar

    Palancar Registered Member

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    siljaline,

    I have accounts at both (blockchain and localbitcoins) of those sites and I use TOR alot. Never lost a coin so far because: I have always preached/and conform to using a script to verify the full https fingerprint in my browser before connecting or providing login credentials.

    The same process I use right here at Wilder's (EC:A1:03:4F:71:A6:0B:F8:BD:D3:4A:DE:E4:93:D1:D7:28:EC:84:3F) although the stakes are lower here since no coins are involved. Those evil TOR nodes become basic MITM attackers. Knowing the FULL cert fingerprint and verifying them at a bitcoin site couldn't be more important. My .02


    edit: the site added the big grin d's above. LOL!!
     
  20. ronjor

    ronjor Global Moderator

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  21. lotuseclat79

    lotuseclat79 Registered Member

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    Anatomy of a Hack.

    -- Tom
     
  22. Palancar

    Palancar Registered Member

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    Tom,

    That was a super read! I have mentioned before that I do have online Bitcoin accounts but I NEVER store ANY bitcoins using them. This read makes me positive that I will only use cold/offline wallets that are fully AIR GAP uses for transaction signing.
     
  23. lotuseclat79

    lotuseclat79 Registered Member

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    Threshold signatures for Bitcoin wallets are finally here.

    -- Tom
     
  24. ronjor

    ronjor Global Moderator

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    http://blogs.wsj.com/digits/2015/03...als-record-funds-hints-at-mass-consumer-play/
     
  25. Palancar

    Palancar Registered Member

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