Posted on 03/25/2014 12:59:32 PM PDT by Berlin_Freeper
...Plagued by two hacking incidents last year, Vircurex previously pledged to cover its users’ losses via its own income. Due to “large fund withdrawals in the last weeks,” Vircurex claims it has taken the above actions to prevent the service from shutting down entirely.
...This news follows the catastrophic shutdown of Mt. Gox, once the largest Bitcoin exchange in existence, on Feburary 25. Other prominent exchanges have ended in sudden shutdowns, including Flexcoin on March 5, and Crypto-Trade on February 27.
(Excerpt) Read more at venturebeat.com ...
I suspect the big banks were behind the creation of Bitcoin. They allowed people to buy it up and then imploded it.
It’s a perfect scam.
I suspect big banks and/or the Russians are behind the hacking of Bitcoin sites.
I thought “Vircurex” was a medication for herpes.
As Uncle Si would say, “Hey, live by the algorithm, die by the algorithm.”
Ping
Here is another story on this with a little more info.
Sound familiar? Bitcoin exchange Vircurex freezes customer accounts as it battles insolvency
http://thenextweb.com/insider/2014/03/23/sound-familiar-bitcoin-exchange-vircurex-freezes-customer-accounts-as-it-battles-insolvency/#!BmUIg
SkyPilot coin, however, is now worth BIG bucks. I have brochures for anyone who is interested. Some of them might have the word “Amway” in the brochure........just cross that out and pencil in “SkyPilot Coin.”
I think if hacking compromises the exchange, you’d want it shut down.
It also tells you to keep your bitcoins downloaded to your own thumb drive.
Now is that safe? I don’t understand the algorithm well enough to know.
As I understand it, each bitcoin (or fraction thereof) has a code. Surely the owner of the coin has to report to the ledger that the coin is being taken out of circulation.
Couldn’t a hacker report to the exchange that it is being put back in circulation, and then spend it?
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