Bitcoin crash
Today there was an interesting event.
I think everyone interested in the topic is aware of Bitcoin’s disapproval in particular, and in general Russian central banks and other state-owned cryptocurrencies. organs. In connection with this event, the btc-e Russian-language exchange has suspended work with Russian payment systems.
Also at the largest American stock exchange MtGox some time ago the withdrawal of funds from the stock exchange was suspended. Today, representatives of the exchange issued a press release reasons for the suspension of withdrawal.
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Actually this press release gave rise to panic.
Pruflink
In short, the mtGox manual reports a vulnerability in software that works with bitcoin. This vulnerability was known before (a brief description of the vulnerability: Transaction Malleability ).
Why is this mtGox - the question is 100% not clear, you can only speculate. The most common assumption is the assumption that mtGox bankrupt, can not fulfill their obligations and are trying by hook or by crook to cut down even some money.
Against the background of such news on mtGox, many users began to sell their bitcoins and the course began to fall sharply. To date, the rate has dropped to $ 500 and a slow growth has begun (but most likely it’s just a rebound).
Meanwhile, on the btc-e exchange, the course began to fall, although not as rapidly as on mtGox. And in principle this would not be anything unusual - plums have been before. But today, someone in the wake of the fall sold a large batch of bitcoins at a price of $ 102 per bitcoin.
What it was: an error of a bot, panic, or careless pressing a player’s button on the exchange is unknown. But the course quickly jumped down to $ 102 and began a sharp rebound of $ 670 for 1 bitcoin.
Someone is very happy that he bought bitcoins for $ 102, and someone probably tears his hair out. But who knows, maybe it was a millionaire who made his bitcoins even when the cryptocurrency cost nothing and decided to “sell everything and buy myself a house in a faraway warm country and a small oil company” on the wave of the latest news.
What's next? Now, apparently, there is a so-called “rebound”: when, after a fall in the course, there is a slight increase followed by an even greater fall. Where is the bottom and when it will be reached (or has already been passed and this is not a rebound, and the rate growth) nobody knows, perhaps.
When will the course return to 700-730 (with which it was in the last days on btc-e) is unknown. There are many forecasts and they are different. Some investors believe that the new achievements of Bitcoin growth will only happen closer to summer. However, in the light of the initiatives and the negative attitude of many states towards bitcoin and cryptocurrency, there is a real threat of a gradual complication and even a complete ban on the use of cryptocurrency in some countries.
UPD: Initially, the vulnerability in the article described in a press release was mistakenly called a vulnerability in the bitcoin protocol, but this is the vulnerability of the software serving bitcoin. Thanks for the amendment to the gentlemen of yupic and merced2001 .
I think everyone interested in the topic is aware of Bitcoin’s disapproval in particular, and in general Russian central banks and other state-owned cryptocurrencies. organs. In connection with this event, the btc-e Russian-language exchange has suspended work with Russian payment systems.
Also at the largest American stock exchange MtGox some time ago the withdrawal of funds from the stock exchange was suspended. Today, representatives of the exchange issued a press release reasons for the suspension of withdrawal.
')
Actually this press release gave rise to panic.
Press release itself
Dear MtGox Customers and Bitcoiners,
As you are aware, the bitcoin withdrawals are processed. By "bitcoin withdrawal" we are referring to transactions from a MtGox bitcoin wallet to an external bitcoin address. Bitcoin transactions, currency and currency withdrawals (Yen, Euro, etc) are not affected by this issue.
Where and how it affects the third party. This will be a positive result for the whole community. This has been resolved.
Addressing Transaction Malleability
Bitcoin wallets during the past weeks. This confirmed the presence of transactions more closely.
Non-technical Explanation:
It made it clear that he couldn’t make it. The bitcoins may be resent. MtGox is a bitcoin
Technical Explanation:
It has been largely ignored by the BitcoinTalk forums. This is a transaction known as a “transaction malleability”, hence the result. Of course, only one of the two transactions can be validated. However, it’s not a problem.
The bitcoin api "sendtoaddress" is broadly used to make it.
He has to keep track of his transaction. It is likely that it’s not a matter of course.
If you’re trying to make it out of the box, you’ll have to do it. If you’ve been able to simply send back your bitcoins back and try again while successful.
We can not be addressed for a transaction purposes. It has been noted that there has been a possibility to follow it. way transactions are currently hashed).
It can be computed, even for past transactions.
Bitcoin withdrawals again, it has been approved and standardized.
It means that he will not be allowed to go through.
Crypto-currency using the same transaction scheme as Bitcoin.
Conclusion
It’s a bit different. It has been an incredible challenge and an exciting challenge.
MtGox will accept your agreement.
As soon as possible.
And especially for your patience.
Best Regards,
MtGox Team
As you are aware, the bitcoin withdrawals are processed. By "bitcoin withdrawal" we are referring to transactions from a MtGox bitcoin wallet to an external bitcoin address. Bitcoin transactions, currency and currency withdrawals (Yen, Euro, etc) are not affected by this issue.
Where and how it affects the third party. This will be a positive result for the whole community. This has been resolved.
Addressing Transaction Malleability
Bitcoin wallets during the past weeks. This confirmed the presence of transactions more closely.
Non-technical Explanation:
It made it clear that he couldn’t make it. The bitcoins may be resent. MtGox is a bitcoin
Technical Explanation:
It has been largely ignored by the BitcoinTalk forums. This is a transaction known as a “transaction malleability”, hence the result. Of course, only one of the two transactions can be validated. However, it’s not a problem.
The bitcoin api "sendtoaddress" is broadly used to make it.
He has to keep track of his transaction. It is likely that it’s not a matter of course.
If you’re trying to make it out of the box, you’ll have to do it. If you’ve been able to simply send back your bitcoins back and try again while successful.
We can not be addressed for a transaction purposes. It has been noted that there has been a possibility to follow it. way transactions are currently hashed).
It can be computed, even for past transactions.
Bitcoin withdrawals again, it has been approved and standardized.
It means that he will not be allowed to go through.
Crypto-currency using the same transaction scheme as Bitcoin.
Conclusion
It’s a bit different. It has been an incredible challenge and an exciting challenge.
MtGox will accept your agreement.
As soon as possible.
And especially for your patience.
Best Regards,
MtGox Team
Pruflink
In short, the mtGox manual reports a vulnerability in software that works with bitcoin. This vulnerability was known before (a brief description of the vulnerability: Transaction Malleability ).
Why is this mtGox - the question is 100% not clear, you can only speculate. The most common assumption is the assumption that mtGox bankrupt, can not fulfill their obligations and are trying by hook or by crook to cut down even some money.
Against the background of such news on mtGox, many users began to sell their bitcoins and the course began to fall sharply. To date, the rate has dropped to $ 500 and a slow growth has begun (but most likely it’s just a rebound).
Meanwhile, on the btc-e exchange, the course began to fall, although not as rapidly as on mtGox. And in principle this would not be anything unusual - plums have been before. But today, someone in the wake of the fall sold a large batch of bitcoins at a price of $ 102 per bitcoin.
What it was: an error of a bot, panic, or careless pressing a player’s button on the exchange is unknown. But the course quickly jumped down to $ 102 and began a sharp rebound of $ 670 for 1 bitcoin.
Someone is very happy that he bought bitcoins for $ 102, and someone probably tears his hair out. But who knows, maybe it was a millionaire who made his bitcoins even when the cryptocurrency cost nothing and decided to “sell everything and buy myself a house in a faraway warm country and a small oil company” on the wave of the latest news.
What's next? Now, apparently, there is a so-called “rebound”: when, after a fall in the course, there is a slight increase followed by an even greater fall. Where is the bottom and when it will be reached (or has already been passed and this is not a rebound, and the rate growth) nobody knows, perhaps.
When will the course return to 700-730 (with which it was in the last days on btc-e) is unknown. There are many forecasts and they are different. Some investors believe that the new achievements of Bitcoin growth will only happen closer to summer. However, in the light of the initiatives and the negative attitude of many states towards bitcoin and cryptocurrency, there is a real threat of a gradual complication and even a complete ban on the use of cryptocurrency in some countries.
UPD: Initially, the vulnerability in the article described in a press release was mistakenly called a vulnerability in the bitcoin protocol, but this is the vulnerability of the software serving bitcoin. Thanks for the amendment to the gentlemen of yupic and merced2001 .
Source: https://habr.com/ru/post/212087/
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