Mt gox bitcoin exchange is bankrupt. 850,000 bitcoins lost.

[mockingbird]

Ha ha... I knew it! Thanks for the concrete data...

[LordEC911]

There haven't?

Early 4870s didn't have issues with qimonda GDDR5 degrading?
The GSOD issue on 5870?
Desktop corruption on Tahiti? I sent in an rma for this one before I found out that it was a common software issues.
Black screen issues on r9 290x?

Yeah, neither amd or nvidia has a perfect track record. Stop being such a fanboy.

I was talking specifically about mining, which is what was being discussed...
4870 issue is new, have any links?
Everything else you pointed out seems to be software issues.

Oh, you wanna talk RMA numberz LordEC911 ? Really ?


http://www.hardware.fr/articles/893-...raphiques.html


http://www.hardware.fr/articles/911-...raphiques.html

Dat are officials numbers from a famous french e-tailer, the same one which throw away Pitcairn from their rigs because of an enormous RMA rate.
It's certainly not the huge bumpgate failure but it's quite a shame to see AMD cards far less reliable than nVidia's ones.

Numbers like that only get you so far, ie doesn't tell the whole story.
Especially when those same numbers in the past have been dug into and found out to not be entirely accurate.
RMAs aren't necessarily due to failed hardware.

Edit- High Sapphire failures was related to one of the components they ordered being out of spec due to a manufacturer defect/oversight.

[BababooeyHTJ]

Was it the Qimonda GDDR5 degrading on the 48xx that caused the failures? I thought there was a problem with the reference VRM deisgn... I've got a non-reference 4890 with qimonda.

nVidia had bumpgate, but I never see their recent stuff on the market as defective. ATI/AMD OTOH, plenty of cards, not to mention their shoddy laptop chipsets (4200) which were just as shoddy as nVidia MCP and are failing en masse.

I don't recall any failures due to vrms. The only thing that I do remember is ocp kicking in with OCCT. AMD's reference designs always seem well done.

IIRC it was just the first gen GDDR5

Everything else you pointed out seems to be software issues.

What does it matter? I've seen a lot of people on the forums sending cards in for an rma over those software issues. Thats the topic that you bought up, rmas.


I'm also not convinced that all of the black screen issues on early 290x are software related.

[Olivon]

High Sapphire failures was related to one of the components they ordered being out of spec due to a manufacturer defect/oversight.

Sapphire was not the only one impacted :

It becomes obvious that this is a widespread problem that has been identified by AMD after roughly two months of production and corrected faster or slower depending on the manufacturer.

http://www.hardware.fr/news/12705/ra...-solution.html

[BeepBeep2]

Well, if users had arrays of 7990 (etc,) they can be sold off as gaming cards, or they could start mining on another server. They still have their hardware, the value of it did not suddenly go to 0.

However they are literally useless for the past 10 months for bitcoin mining.
Scrypt algo coins, yes but ASIC designs are coming soon Q3-ish

[paulbagz]

However they are literally useless for the past 10 months for bitcoin mining.
Scrypt algo coins, yes but ASIC designs are coming soon Q3-ish

You will see more Scrypt-jane and ScryptN coins then.

-PB

[CrimInalA]

Who do people actually keep a large amount of BTC in a wallet from a 3rd party ? Thats like running around with all your savings in your pockets instead of putting it in the bank .

When I buy BTC i immediately transfer it from Kraken/mtgox/blockchain to my offline Bitcoin-QT client for example . I only have like 0.11 BTC somewhere in an online wallet .

[tajoh111]

http://www.reuters.com/article/2014/...A250HH20140306

CEO of a small bitcoin startup in singapore committed suicide. Too young, only 28.

I wonder if the same thing happened to them.

[kromosto]

Japan gov. said they don't see bitcoin as a currency and they don't have plans for making it a financial asset.

[AliG]

http://www.reuters.com/article/2014/...A250HH20140306

CEO of a small bitcoin startup in singapore committed suicide. Too young, only 28.

I wonder if the same thing happened to them.

You have to wonder the kinds of threats he was facing once he was hacked (I can only assume he lost the assets of very powerful people)

[tajoh111]

You have to wonder the kinds of threats he was facing once he was hacked (I can only assume he lost the assets of very powerful people)

Whoever took it, I hope it was some hacker who will waste it on luxury good and stuff. Still awful for someone to waste 500 million on stuff like that, but better them than some drug or terrorist or criminal organization. 500 million in the wrong hands can cause an awful lot of damage.

[Black Phoenix]

First you need to convert it into real, cold money. And if you convert a lot of that amount in a small time, it will leave trace at least in the company that converts it. I can't see any company not knowing how much they convert it and from to, even being an untraceable currency.

For me looks like impossible, something must be left behind.

[AliG]

Whoever took it, I hope it was some hacker who will waste it on luxury good and stuff. Still awful for someone to waste 500 million on stuff like that, but better them than some drug or terrorist or criminal organization. 500 million in the wrong hands can cause an awful lot of damage.

Lol yeah I suppose rolexes and fake boobs can't cause international crises

First you need to convert it into real, cold money. And if you convert a lot of that amount in a small time, it will leave trace at least in the company that converts it. I can't see any company not knowing how much they convert it and from to, even being an untraceable currency.

For me looks like impossible, something must be left behind.

Says who? People doing shady deals just trade bitcoins directly, meaning it holds a lot of value within the drug industry even without being converted to cash

[tajoh111]

Lol yeah I suppose rolexes and fake boobs can't cause international crises



Says who? People doing shady deals just trade bitcoins directly, meaning it holds a lot of value within the drug industry even without being converted to cash

Yeah. The reason you just put, is exactly why its good for illicit activity, particularly large transactions.

[Black Phoenix]

Lol yeah I suppose rolexes and fake boobs can't cause international crises



Says who? People doing shady deals just trade bitcoins directly, meaning it holds a lot of value within the drug industry even without being converted to cash

Yeah. The reason you just put, is exactly why its good for illicit activity, particularly large transactions.

In the case of illicit transactions. In case it was an hacker just for luxury goods (that was what I wanted to comment) it can be traceable. Do exists lots of shops that accept so volatile currency that today values 800$ (example) and tomorrow 8$? The good still holds his value, the currency used to buy it may be not.

But it's only my opinion, since what I know about the cryptographic currency, and about BitCoin is only from the news in websites and others...

[Heinz68]

http://www.reuters.com/article/2014/...A250HH20140306

CEO of a small bitcoin startup in singapore committed suicide. Too young, only 28.

I wonder if the same thing happened to them.

You have to wonder the kinds of threats he was facing once he was hacked (I can only assume he lost the assets of very powerful people)

He could not have been hacked because it's all about her, beside at this point nobody is talking about hacking.

Very powerful people are not too smart if they keep the coins online. First advice i got when learning about mining was not to keep them online, that's what personal enscripted wallets are for plus there is not any confirmation it has anything to do with Bitcoin even the article tajoh based his speculation on did not say so.

Probably if it was directly related to bitcom the info would be already public, I goggled it and also could not find any connection, here from Financial Post article.

Steve Beauregard, CEO and founder of Singapore-based GoCoin, rented a room in Radtke?s Singapore home and was among the last people to see Radtke alive.

This wasn?t a bitcoin-related death. She had other things going on in her life

?This wasn?t a bitcoin-related death. She had other things going on in her life. Collectively, there were a lot of small factors. ? It appears she picked a permanent solution to a lot of short term problems,? he told Reuters.

If it's Bitcoin related the police investigation will sure find out, at this point it was not even confirmed by the police it was a suicide.

[naokaji]

And the Mt Gox troubles hit new heights:

On Sunday, hackers took over the Reddit account and personal blog of Mark Karpeles, Mt. Gox’s CEO, to post an angry screed alleging that the exchange he ran had actually kept at least some of the bitcoins that the company had said were stolen from users. “It’s time that MTGOX got the bitcoin communities wrath instead of [the] Bitcoin Community getting Goxed,” wrote the unidentified hackers, referring to the multiple occasions over its three year history when Mt. Gox has gone offline, delayed trades or suspended withdrawals, events so common that Bitcoin users coined the phrase to be “goxed”–to suffer from Mt. Gox’s technical glitches.

The hackers also posted a 716 megabyte file to Karpeles’ personal website that they said comprised stolen data from Mt. Gox’s servers. It appears to include an Excel spreadsheet of over a million trades, a file that purports to show the company’s balances in eighteen difference currencies, the backoffice application for some sort of administrative access to the databases of Mt. Gox’s parent company Tibanne Limited, a screenshot of the hackers’ access to those databases, a list of Mark Karpeles’ home addresses and Karpeles’ personal CV.

and where it gets potentially very frightening for people who used Mt Gox...

In a possibly related incident, a user on the BitcoinTalk forum posted a message–since deleted by the forum’s moderators–claiming to be offering for sale a 20 gigabyte stolen database from Mt. Gox, including the personal details of all its users and even scans of their passports. “This document will never be elsewhere published by us,” wrote the user, who went by the name nanashi____. “Selling it one or two times to make up personal loses from gox closure.” The hacker asked for a price of 100 bitcoins for the database, about $63,600 at current exchange rates. ‘

http://www.forbes.com/sites/andygree...ence-of-fraud/

[mockingbird]

Funny how all the "right-wing" libertines are frantically putting up a faux calm front as their "currency" collapses...

Bitcoin was never a good idea, and anyone who understands neumismatics knows this. All it is is another feudalist pyramid scheme. You're better off joining Primerica or Amway, at least at the end of it all, you'll have a closet full of overpriced detergents and several insurance plans that really don't cover anything.

[WangChung]

I really wanted and still want Bitcoin to succeed, but ultimately it was like trading digital bottle caps. Without backing of "the full faith and credit of (insert country)" which usually entails the backing of not only physical resources but that country's standing army, there is no chance of stability for any cryptocurrency.

[mockingbird]

wangchung - you sir have hit the nail on the head.

[kromosto]

i always believed amazon's digital money will succeed.