[Updated w/ Statement NH] NiceHash breached, resulting in a loss of $60 Million Dollars

[D Levy]

We can agree to disagree, it's called negligence. If any of you are YouTubers and don't feel any responsibility to correct misinformation in one of your videos which caused a portion of your fans loss... then something is wrong with you. If it were me I'd feel terrible and post a pinned apology comment or video like most YouTubers do when shit like this happens and their fans ate the bullet along with you. I'm willing to bet LMG had money stolen too since they were mining with that beefy machine probably for a while before releasing that video. We've all lost so stop being dickheads about it. I've not seen one reply yet that was like "yea I lost my nicehash wallet balance too". If you're not one of those people, then why are you arguing?

[2FA]

Lets blame Linus for the inadequate security of an unaffiliated company.

 

 

[2FA]

1 hour ago, D Levy said:

Y<snip>

A regular pool could get hacked the same way, that's why I said it.

[vanished]

-merged-

[ItsMitch]

Just now, Ryan_Vickers said:

-merged-

so many posts seem out of context now lmao, im just seeing linus then another conversation

[ItsMitch]

1 hour ago, D Levy said:

And now I'm stuck with the power bill and loss of time because either nicehash is lying and pulling a highly unethical exit strategy or some hacker(s) made off with 62.6 MILLION in bitcoin.

 

Dunno why you're blaming Linus for what is obviously your mistake? You should of taken it out and secured it, you didn't.

[WkdPaul]

7 minutes ago, SC2Mitch said:

Dunno why you're blaming Linus for what is obviously your mistake? You should of taken it out and secured it, you didn't.

Sadly, it's not something that was obvious for most (that the NH wallets weren't secure). So personally I don't really blame those that were using it.

 

I personally used an external wallet because I always knew it was safer, good thing I was paranoid and didn't used NH solution.

Edited December 7, 2017 by wkdpaul

[knightslugger]

4 minutes ago, wkdpaul said:

Sadly, it's not something that was obvious for most (that the NH wallets weren't secure).

The general wisdom about wallets is, "If you don't know if you have the private key or not, it's not your wallet".

 

That's actually common knowledge in the CC world, really...

[FlatBrokeRacing]

For those that laughed at this....I have nothing good to say. being out $1066usd and growing currently due to the price increase. lesson learnt to move smaller amounts to hardware wallets more often rather than waiting and moving larger amounts. 

 

as for nicehash, i'm done with them period, nor would i recommend them to anyone for as long as i'm on this planet.

[knightslugger]

moving small amounts requires an exorbitant amount of "gas". Moving large amounts less frequently is more economical, but leave you open to loss.

[WkdPaul]

8 minutes ago, knightslugger said:

The general wisdom about wallets is, "If you don't know if you have the private key or not, it's not your wallet".

 

That's actually common knowledge in the CC world, really...

Seeing how many people were using NH wallet, doesn't seem like it is, sadly.

[knightslugger]

4 minutes ago, wkdpaul said:

Seeing how many people were using NH wallet, doesn't seem like it is, sadly.

for as much education as i've put into crypto, i honestly don't feel that bad. hell i lost, but on account of the damn payment cycle. That 1 week @ 4% just rubs me so wrong on so many levels. friggin extortion. But my god is it ever convenient.

 

I'm mining zen at 0% pool fees

I'm mining Dash at 0% pool fees.

 

those feels are 4 reals.

[FlatBrokeRacing]

2 minutes ago, wkdpaul said:

Seeing how many people were using NH wallet, doesn't seem like it is, sadly.

when using nicehash it was easier and cheaper to use their internal wallet if you waited for a decent amount of return, but yes left everyone open to attack, esp with nicehash keeping ALL of the btc in ONE wallet . I know of a few guys that are over 10k out right now, i feel sorry for them, but at the same time they shouldnt have that in there. I generally moved once i hit .1BTC. 

[knightslugger]

"I think you ought to know, I'm feeling very depressed..." --Marvin, THGTTG

 

...about sums up my afternoon.

[GOTSpectrum]

I use a paper wallet kind of... I store a notepad file with my key on, on an encrypted drive, that is then loaded into a full disk encrypted offline system.

 

Is as secure as paper. I'm thinking about getting a pendant with it engraved on, then I always have it on me haha.

[D Levy]

2 hours ago, Ben Quigley said:

I use a paper wallet kind of... I store a notepad file with my key on, on an encrypted drive, that is then loaded into a full disk encrypted offline system.

 

Is as secure as paper. I'm thinking about getting a pendant with it engraved on, then I always have it on me haha.

Not really,

You'd be more secure to put your info through your own cipher like you see the spies do in spy movies, and etch your encrypted info onto a reinforced carbon brick of some kind (the idea is to use something with an extremely high melting point that won't corrode or oxidize easy).. repeat for each key.. hopefully you have a 2 of 4 setup or better. Place each set of two keys into separate safety deposit boxes. This way you physically have to take your laptop to your safety deposit box in the bank to do a withdraw.

These concepts are in the glacier protocol. Look it up, it's a great read

[GOTSpectrum]

10 minutes ago, D Levy said:

Not really,

You'd be more secure to put your info through your own cipher like you see the spies do in spy movies, and etch your encrypted info onto a reinforced carbon brick of some kind (the idea is to use something with an extremely high melting point that won't corrode or oxidize easy).. repeat for each key.. hopefully you have a 2 of 4 setup or better. Place each set of two keys into separate safety deposit boxes. This way you physically have to take your laptop to your safety deposit box in the bank to do a withdraw.

These concepts are in the glacier protocol. Look it up, it's a great read

Haha, it's only for a bit of a fun way to have an off-site backup. If the backup around my neck is destroyed, I probably have worse things to worry about.

[D Levy]

Just now, Ben Quigley said:

Haha, it's only for a bit of a fun way to have an off-site backup. If the backup around my neck is destroyed, I probably have worse things to worry about.

But think about your legacy, living trusts, etc etc

Think bigger, your $1K in bitcoin now might be worth a fortune in 5 years.

Don't be like that one guy who threw out his hard drive.

[GOTSpectrum]

1 minute ago, D Levy said:

But think about your legacy, living trusts, etc etc

Think bigger, your $1K in bitcoin now might be worth a fortune in 5 years.

Don't be like that one guy who threw out his hard drive.

I have no one who I want to leave my 1k BTC too. I want to TAKE IT TO THE GRAVE! 

 

Think if people actually do take it to the grave, and throw away drives containing coins. The amount of BTC in circulation will slowly decrease... Damn... I hadn't thought about that until now.

[2FA]

13 minutes ago, Ben Quigley said:

I have no one who I want to leave my 1k BTC too. I want to TAKE IT TO THE GRAVE! 

 

Think if people actually do take it to the grave, and throw away drives containing coins. The amount of BTC in circulation will slowly decrease... Damn... I hadn't thought about that until now.

It's a limited amount regardless, 21 million to be exact.

 

EDIT: Bitcoin is going to get overthrown when all 21 million are in circulation as there will be no incentive to mine which is required for the network to work.

[GOTSpectrum]

1 minute ago, DeadEyePsycho said:

It's a limited amount regardless, 21 million to be exact.

I'm aware, but if btc is here 'forever' eventually they will all be gone. This is just hypothetically, I don't think it will be

[2FA]

Just now, Ben Quigley said:

I'm aware, but if btc is here 'forever' eventually they will all be gone. This is just hypothetically, I don't think it will be

I edited my post to reflect my further point.

[GOTSpectrum]

3 minutes ago, DeadEyePsycho said:

It's a limited amount regardless, 21 million to be exact.

 

EDIT: Bitcoin is going to get overthrown when all 21 million are in circulation as there will be no incentive to mine which is required for the network to work.

Miners make more from fees then they do from rewards anyway per block these days. As long as there are transactions, they'll be miners.

[Storytellar]

10 hours ago, Cyracus said:

more like, do you give random strangers your wallet with up to thousands of dollars in it and just trust that you'll get it back with everything in it whenever you want?

I believe tha is known as a "bank"

[Cyracus]

5 minutes ago, Storytellar said:

I believe tha is known as a "bank"

banks are institutions, they're regulated, they're liable if your money disappears, crypto lockers aren't. I meant like handing your money to just any random person you happen to see on the street, not an agent of a business that's legally liable to you