What is the “Maintenance” amount referring to on the bitcoin exchange Bitcoinica?

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Cryptocurrency exchange losses have been a nuisance since Bitcoin was first created. Many remember the loss of roughly 850,000 BTC in the demise of Mt Gox and the most recent 120,000 BTC Bitfinex compromise. However, over the course of the past eight years there has been various exchange hacks and/or inside jobs.

Also read: Review of the Cold Storage Hardware Wallet Cryptosteel

50+ Cryptocurrency Hacking Thefts Since Bitcoin’s Inception

Since 2009 there have been roughly over fifty hacking thefts against notable businesses associated with the Bitcoin industry. Millions of dollars worth of bitcoins have been stolen, lost, and compromised over the years. Each case has been mysterious, and many of these hacks remain unsolved. Today we discuss some of the exchange hacks and losses that may have been forgotten.

The Bitcoin7 Heist

Bitcoin7 was a business operating in 2011 that was once the third-largest BTC/USD exchange behind Tradehill and Mt Gox....

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Bitfinex is a trading platform that exchanges five pairs at current: BTC/USD, LTC/BTC, LTC/USD, DASH/BTC, and DASH/USD. It’s different from an exchange in that it allows you much more freedom of action, and leverage (for the non-Dashcoin pairs). The leverage is limited at 3.3:1, but that’s still quite a bit for such a volatile marketplace. The freedom of action comes in two ways; first, by allowing limit, market, stop, trailing stop, and fill/kill orders. Second, by allowing you to acquire (borrow) or offer (lend) liquidity on a free market contract for difference exchange. How it works is pretty simple. Here’s a snapshot of the USD borrow/lend page from January 21st, 2014:

On the left are offers. On the right are bids. When you accept or offer liquidity, you choose the maximum time frame and the quantity, and the system matches your orders. They also utilize something called a flash return rate; this is essentially “one-click” lending. If you enable it, your offer...

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As news major bitcoin exchange Bitfinex was robbed of more than $60m continues to echo across the media, less clear for many is who – and what – is at the center of this story.

Based in Hong Kong, Bitfinex was the largest bitcoin exchange by US dollar volume prior to the hack. Since opening in 2012, the exchange has attracted a clientele looking to corner a piece of the growing market for leveraged trading amid declining volatility in the bitcoin price.

The exchange would go on to develop a positive reputation among traders for peer-to-peer margin trading facilities that offered users access to a key source of liquidity. According to exchange and trading experts, it was this aspect that both fueled interest in the platform and gave traders a reason to first engage on the website.

BTC VIX, an admin at bitcoin trading club Whale Club, believes that this innovation helped boost the exchange's profile.

He told CoinDesk:

"That was extremely...

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DavidBalaban

David Balaban is a computer security researcher with over 10 years of experience in malware analysis and antivirus software evaluation. David runs the

Privacy-PC.com

project which presents expert opinions on the contemporary information security matters, including social engineering, penetration testing, threat intelligence, online privacy and white hat hacking. As part of his work at Privacy-PC, Mr. Balaban has interviewed such security celebrities as Dave Kennedy, Jay Jacobs and Robert David Steele to get firsthand perspectives on hot InfoSec issues. David has a strong malware troubleshooting background, with the recent focus on ransomware countermeasures.

Latest posts by DavidBalaban (see all)

There are two ways in which
The first successful cryptocurrency was Bitcoin, and since then many new cryptocurrencies have been successfully launched.">cryptocurrency can make a cybercrook’s day. One facet of this symbiosis revolves...

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On March 1, web hosting provide Linode’s servers were hacked, resulting in a theft of 3000 BTC from Slush and, most severely, 43000 BTC from Bitcoinica. There have been two major Bitcoin heists before, one 25000 BTC theft in June and a 17000 BTC theft from the Bitcoin exchange bitomat.pl in August, resulting in the exchange being bailed out and acquired by MtGox. Security is a major issue in the Bitcoin community, and many are worried that if they want to carry out a significant portion of their economic activity in bitcoins their money will not be safe. Many traditional banking proponents see the theft in June and now this heist as clear indications of the inferiority of Bitcoin’s lack of reversibility and an effective audit trail, and it cannot be denied that incidents such as these do shake even Bitcoin proponents’ confidence in the system, but it is critically important that we do not fall into hysteria and exaggerate the consequences and instead approach the issue with a cool...

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Bitcoin hasn’t been having a great time lately, there have been a few high profile, large dollar amount hacks of Bitcoin Exchange sites (basically the Bitcoin banks).

The latest involved $90,000USD and a high likelihood that the user database was compromised too. It seems like Bitcoin, despite all the hype, might die a slow death due to all these compromises which are destroying users trust and the overall credibility of the service.

It was touted to be a whole new global economy which is resistant to inflation, inflated GDP and totally decentralized. Obviously security wasn’t high on the list.

Bitcoin exchange site Bitcoinica suspended its operations on Friday after hackers managed to steal 18,547 bitcoins — valued at about US$90,000 — from its online wallet.

The user database probably was compromised as well, Bitcoinica’s administrators said in an announcement posted on the site’s home page. The information stored in the database included usernames,...

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Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. Unlike traditional currencies such as dollars, bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. As such, it is more resistant to wild inflation and corrupt banks. With Bitcoin, you can be your own bank.

If you are new to Bitcoin, check out We Use Coins and Bitcoin.org. You can also explore the Bitcoin Wiki:

How to buy bitcoins worldwide
Buying Reddit Gold with bitcoin

Will I earn money by mining bitcoin?

Security guide for beginners - (WIP)

Community guidelines

Do not use URL shortening services: always submit the real link. Begging/asking for bitcoins is absolutely not allowed, no matter how badly you need the bitcoins. Only requests for donations to large, recognized charities are allowed, and only if there is good reason to believe that the person...
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After the

collapse of Bitcoinica

six months ago, the business of margin trading, a service which at Bitcoinica’s peak attracted a trade volume almost as large as that of MtGox itself, disappeared from the Bitcoin ecosystem almost entirely. Since then, there have been a number of disparate efforts to bring margin trading back. Almost as soon as Bitcoinica fell, a company named RingCoin announced Kronos.io, a product which looked like it could be a superior upstart competitor that would not suffer from the security faults of its predecessor. However, kronos.io was never completed, and RingCoin is now defunct. Another alternative was icbit.se, a service which has been trading options between BTC and USD, gold and even crude oil for months, and is still active now, but has not had anything close to the level of success reached by Bitcoinica. Finally, there is the Bitcoin stock exchange

MPEX

, which also offers USD/BTC options for trade.Aside from these three, a number of...

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Chinese bitcoin trading platforms now face the risk of closure if they breach new PBOC (People’s Bank of China) regulations governing virtual currencies. The PBOC inspection team has unveiled a series of restrictions imposed on bitcoin after a meeting with nine Beijing-based bitcoin trading platforms.

Chinese bitcoin trading platforms risk closure if they breach new controls on the virtual currency. Amongst the measures approved was the banning of platforms from margin trading, which has become a widespread practice allowing investors to buy bitcoin on credit and repay their loans with gains made on transactions.

Trading platforms have also been banned from money laundering and practices that violate foreign exchange or tax laws. Those that do, risk closure by regulatory authorities. The PBOC has taken immediate action having already sent inspection teams to several of the country’s major bitcoin trading platforms. As a result of these measures there has been...

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NEW YORK — A Wall Street-backed bitcoin company launched the first U.S.-based bitcoin exchange on Monday in a bid to give the cybercurrency greater legitimacy and attract more mainstream users.

The exchange opened for business promptly at 9 a.m. Monday on exchange.coinbase.com, which advertised itself as a "safe and secure bitcoin exchange."

The new exchange is "insured against employee theft and hacking," said Coinbase, a San Francisco start-up.

Bitcoin security has become an issue amid growing fears of breaches and theft among existing exchanges, many of which are located overseas.

Earlier this month, Slovenian exchange Bitstamp said some 19,000 bitcoins, worth about $5.4 million, had been lost to a security breach.

But bitcoin fans have been skittish since the world's largest bitcoin exchange, Mt. Gox, collapsed last year. The Japan-based exchange has since been accused of mishandling customers' accounts, leading to investigations in both Japan...

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The list below shows exchangers sorted by the rate of exchanging Payza USD to Bitcoin. The exchanger with the best rates is at the top of the list, exchangers with worse rates are listed below it. Choose the exchanger with the rate you need and click it to go to the site and exchange the money.

The the first-time visitors of our exchanger monitoring are urged to check-out the video demonstrating all exciting features of our service.

All exchangers specified in the list provide the service of exchanging Payza USD to Bitcoin automatically. You can use our instructions in the FAQ section if you have never exchanged electronic money at our site before and you come across any difficulties with the exchange process.

Keep in mind that change rates Payza Bitcoin can be better when you go to an exchange site from the BestChange.com monitor than when you visit exchangers in a regular way.

If you cannot find how to exchange the money after you go to the site,...

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Recommended Bitcoin Transaction Fees



The image above shows the current distribution of fees in unconfirmed transactions.

This can be used to estimate the fee required for inclusion in a block of certain size. For example, if a block were found now of size 1000kB, the minimum fee per KB would be directly below where a horizontal line at 1000kB crosses the blue curve. This assumes a profit-optimizing miner with the same set of transactions in their mempool as what our Bitcoin Core node reports.

* The estimates shown above are for a 373-byte transaction which is one that spends two outputs and creates two, one for the recipient and another for change. This is the larger of the most common transactions seen on the network. Please consider the size of your transaction and multiply it by the fee/kb in the table above to optimize the fees you pay. Realize also that the mempool on our node and others doesn't necessarily represent the network or...

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Earlier the past year , somebody accomplished the most important heist within the history of Bitcoin, the virtual currency that approximates money on the web. The felonious drug bazaar Sheep Marketplace was empty, either by hackers or insiders, and concerning $100 million value of the currency was taken from customers.

Bitcoin heists are literally not uncommon. In Gregorian calendar month of 2011, a user named Allinvain was the victim of what’s arguably the primary recorded major Bitcoin thievery. Allinvain awoke to search out that a hacker had taken concerning 0.5 1,000,000 dollars’ value of bitcoins. “I want killing myself currently,” he wrote at the time.

There are dozens of Bitcoin thefts since then. The purportedly high-return investment fund Bitcoin Savings & Trust clad to be a scheme, its owner charged with cacophonic off investors for $4.5 million in bitcoins. MyBitcoin, a “wallet” service that keep bitcoins sort of a checking account, disappeared with...

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Moon Bitcoin is a bitcoin faucet with a difference...YOU decide how often to claim!

Please enter your CoinPot email address, or bitcoin wallet address below to get started...

What is Moon Bitcoin?

Moon Bitcoin is a bitcoin faucet with a difference...YOU decide how often to claim!

Whereas most faucets only allow you to claim once per hour or once per day, we allow you to claim as often or as little as you like*
The faucet will gradually fill up - quite quickly initially but it will slow down over time - until you make a claim. So the longer you leave it the more you will be able to claim.
You may prefer to claim a smaller amount every 5 minutes, or visit once per day and claim the large amount that has built up while you were away!

(* minimum 5 minutes between claims per account/IP address)




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How much can I claim?

to view the current claim rates.
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