Dev.SN ♥ developers
Sections
Dev.SN
from the we-promise-we-won't-have-BTC-news-every-day dept.
juggs writes:
"In yet another (un)surprising twist in the ongoing MtGox bitcoin exchange collapse saga, the BBC reports that MtGox has managed to find 200,000 Bitcoins tucked away in a wallet that had been lying unused and assumed empty since 2011.
From the brief FA:
The firm said it found the bitcoins worth around $116m USD (£70m GBP) in an old digital wallet from 2011. That brings the total number of bitcoins the firm lost down to 650,000 from 850,000.
This revelation, as court disclosure hearings are currently in progress, seems to be conveniently timed. Perhaps Mark Karpeles (CEO MtGox) and his legal team think this is a good move, maybe to cast an illusion of incompetence rather than malice in the run up to the no doubt long running court battles ahead in many jurisdictions.
Can even the most incompetent CEO lose track of $116m USD of assets for 3 years or so (~23.529% of the originally claimed lost assets)? I suppose the courts will decide ultimately.
In other Bitcoin related news, Bitcoin Core 0.9.0 was released 19th March 2014: Bitcoin v0.9.0 release
This update apparently closes many transaction malleability loopholes that MtGox alleges are how it was denuded of its assets. Not that it would have helped MtGox in any way, they apparently chose to not update their implementation despite the malleability issues already being publicly aired and functional workarounds being publicized within the Bitcoin community.
(Score: 5, Funny) by RobotMonster on Friday March 21 2014, @09:34AM
I don't see the link between bitcoins and a discontinued brand of cervical cap [wikipedia.org]. :-)
Perhaps you eft a letter out?
But yeah, Mt Gox seems so much more trustworthy now!
(Score: 5, Interesting) by Covalent on Friday March 21 2014, @09:44AM
Uh, yeah...I don't usually play the grammar nazi, but this is really bad editing.
I suggested crowd-sourcing the editing in the IRC chat rooms before SN went live - I reiterate that need today. Submissions should be emailed to 10 random users (just like modpoints) to be scanned for obvious grammatical errors.
You can't rationally argue somebody out of a position they didn't rationally get into.
(Score: 5, Interesting) by spxero on Friday March 21 2014, @10:33AM
I think you're on to something. I wouldn't mind reading the stories ahead of time (similar to something like Firehose) with editing capabilities as long as I or other members remain in good standing. TBH, I'm visiting and reading the site anyway, and I would like to help out where I can.
Every day it seems I get 10 mod points, but I'm only finding a handful that could/should be modded. It would probably complicate things, but what about a 1:1 relationship of edits and moderation? Basically I, a member in good standing, could use my points to mod the comments or edit the story.
(Score: 2) by Open4D on Friday March 21 2014, @02:25PM
The "How often should SoylentNews plan to post stories?" poll [dev.soylentnews.org] comments turned into a broader discussion about the story submission & editing processes.
I don't use IRC, so my suggestion [dev.soylentnews.org] for checking stories was just based on using an email list - at least temporarily.
I emphasize that it's the editors who should make any decisions about what is useful for them. People (like me) who aren't capable or committed enough to be an editor, can just provide ideas and offer some help.
(Score: 3, Funny) by Thexalon on Friday March 21 2014, @09:50AM
'Twas brillig, and the slithy oves?
Every task is easy if somebody else is doing it.
(Score: 4, Funny) by LaminatorX on Friday March 21 2014, @09:52AM
See what I get for trying to fix capitalization.
This is our news site. There are others like it, but this one is ours.
(Score: 2) by RobotMonster on Friday March 21 2014, @10:18AM
That'll learn ya!
(And thanks for fixing it; never saw that happen at the other unmentionable place).
(Score: 4, Informative) by lhsi on Friday March 21 2014, @09:53AM
(Score: 2) by LaminatorX on Friday March 21 2014, @09:56AM
Thank you.
This is our news site. There are others like it, but this one is ours.
(Score: 2) by lhsi on Friday March 21 2014, @10:13AM
Took me a couple of previews to figure that out. Interestingly, € doesn't work (or didn't when I last tried) and you have to use the numbers for the entity instead.
(Score: 1) by Buck Feta on Friday March 21 2014, @10:32AM
> the £ symbol isn't well supported
You wouldn't think it would take much to support a pound.
(Score: 5, Interesting) by Thexalon on Friday March 21 2014, @09:47AM
Jon Corzine and the rest of the management at MF Global "misplaced" $1.6 billion, only paid back 93% of it, leaving $112 million completely unaccounted for. With no criminal penalties.
I sure wish we gave large scale white collar crimes proportional treatment as compared to, say, grand theft auto. Because if we did, we'd put roughly 10,000 investigators on locating that $112 million, and once we caught whoever had it we'd lock them up for roughly 30,000 years.
Every task is easy if somebody else is doing it.
(Score: 2, Funny) by Fnord666 on Friday March 21 2014, @07:26PM
With the new Slo-Mo drug that means we only have to incarcerate them for a week or so.
(Score: 5, Insightful) by sl4shd0rk on Friday March 21 2014, @09:53AM
They sift through a lot of crap every day and it's bound to increase. Firehose is busted in this version of Slashcode so the crowd-sourced filtering isn't going to happen until someone gets the initiative to make it happen. Until then, rest assured mistakes in editing are simply that. Mistakes. Applying the same level of irritability with Slashdot editors here on SN is not logical.
(Score: 2, Funny) by ticho on Friday March 21 2014, @10:34AM
I agree with the irritability, but we really should hold them to higher standards and quality proofreading.
(Score: 2) by Thexalon on Friday March 21 2014, @10:54AM
We're not irritated at the editor, just poking fun at a mistake. And the editor in question fixed it, so we're not even doing that any more.
There's a world of difference between that and (with some evidence) accusing at least one editor of that other site of getting paid off by particular bloggers to raise their Google search rankings and page views by using links from the then-reputable site to their own blogs.
Every task is easy if somebody else is doing it.
(Score: 1) by Fnord666 on Friday March 21 2014, @07:31PM
Do they really? Are that many people actually submitting stories to SN?
(Score: 5, Interesting) by Cheetah on Friday March 21 2014, @09:56AM
The parallels are so striking, and Karpeles' track record so bad, that it's hard to believe this is NOT the same type of scam.
(Score: 0) by Anonymous Coward on Friday March 21 2014, @10:43AM
This is also what I though about when reading this piece of news. What a sorry clusterfuck.
(Score: 3) by Thexalon on Friday March 21 2014, @12:06PM
Best way to rob a bank is to own one!
Every task is easy if somebody else is doing it.
(Score: 1) by Open4D on Sunday March 30 2014, @11:01AM
Reminds me of the (inevitable?) Bitcoin / Jack and the Beanstalk comparison. Cartoon here: http://privateeyenews.tumblr.com/post/80254325582/ from-eye-1362 [tumblr.com]
(Score: 2, Interesting) by RoyWard on Friday March 21 2014, @10:02AM
"Never attribute to malice that which is adequately explained by stupidity"
However every news story that comes out seems to increase the level of stupidity that would be required.
I find it interesting how the mainstream media is picking this stuff up - for example, both the link in the summary and http://www.stuff.co.nz/technology/digital-living/3 0027385/mt-gox-finds-200000-forgotten-bitcoins [stuff.co.nz] . Not that long ago, I'd only see bitcoin related news on tech fora.
(Score: 4, Interesting) by RobotMonster on Friday March 21 2014, @10:16AM
Yeah, it has been weird to see bitcoin stories on the TV news & current affairs in Australia. They've been badly done and very one-sided (pro bitcoin), but that's fairly normal for any technology story in that space (e.g. all the recent coverage of the birthday of the 'internet', when they were actually talking about the 'web'). I've even seen bitcoin price graphs in the finance section of the TV news...
Get off my lawn!
(Score: 2) by everdred on Friday March 21 2014, @10:54AM
> Can even the most incompetent CEO lose track of $116m USD
What this seems to say is that even they don't think $116 million worth of bitcoins is worth $116 million, a conclusion many reasonable people could come to.
We don't take no shit from a machine.
(Score: 3, Funny) by Drake_Edgewater on Friday March 21 2014, @11:16AM
This reminds me of this story
Bill Gates finds $1 billion in box in back of closet [bbspot.com]
(Score: 4, Insightful) by GlennC on Friday March 21 2014, @11:28AM
If they need to. They're just trying to keep as much as possible.
It's just like any other insider job.
...as far as I know (but I don't know that far)
(Score: 3, Funny) by Boxzy on Friday March 21 2014, @11:49AM
Repeat after me: Magic The Gathering Online Exchange.
Now say it to yourself ten times and see if it starts to sound more, or less competent.
Magic The Gathering Online Exchange.
Go green, Go Soylent.
(Score: 3, Insightful) by quitte on Friday March 21 2014, @03:03PM
Interesting game. Let me try it, too. Acorn Risc Machine. Acorn Risc Machine. Acorn Risc Machine.
Okay you win. But where to draw the line? After all the pokemon step counter is one of the best step counters.
(Score: 1) by rk on Friday March 21 2014, @09:02PM
"Never attribute to malice that which is adequately explained by stupidity" followed by "Any sufficiently advanced incompetence is indistinguishable from malice."
(Score: 1) by lubricus on Saturday March 22 2014, @03:51AM
... sorry about the typos