[ale] [OT] (but computer and cryptography related) Bitcoin, Litecoin

[Ron Frazier (ALE)]

Hi Michael,

That's an interesting article.  I have noticed a trend of these type of 
sites getting attacked.  I guess that whenever you put anything valuable 
on a public website, the vipers start attacking it.  There are probably 
many motives for attacking these type of sites, anywhere from blackmail 
to competition among players to outright stealing.  Bitcoins are 
prohibitively expensive to mine at this point so my interest is in 
Litecoins.  Many of the same concepts apply.  I think a lot of the 
people that are on the service provider side of this are pioneer types, 
programmers and engineers that are enthusiastic about just getting 
things to work.  They're putting services up there and changing them at 
a rapid pace.  But, they not be the best at security.  The industry is 
young and many sites are going through some growing pains.  Of course, 
if you're being DDOSed by a botnet of 100,000 pc's, that's hard to deal 
with in any case.  I'm afraid that some of the sites are going to have 
to learn that some of the rules, procedures, and audits that the 
traditional financial world has in place are a good thing after all.  
I'm trying not to expose any coins I may have on a public website for 
any period of time.

Sincerely,

Ron

On 4/6/2013 8:39 PM, Michael Nolan wrote:
> http://thehackernews.com/2013/04/bitcoins-wallet-service-instawallet.html
>
> "The digital currency Bitcoin has suffered yet another hack. Bitcoin 
> wallet site Instawallet has been taken offline after a security 
> compromise, has suspended its service indefinitely."


-- 

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Ron Frazier
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linuxdude AT techstarship.com