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[SCAMEXPOSER]

To most of us that are very familiar with Crypto currencies activities and trend we have read from different sources that the supply of bitcoin is limited to 21 million bitcoin of which very significant amount of it has been mined, this made mining of bitcoin more harder after four years interval through halving.

Information available on Decrypt.co revealed that on the 15th of August 2010 one hacker was able to produce or mined 184 billion bitcoin which he or she recieved 92billion bitcoin each on two addresses.

The crack in the blockchain networkt was quickly detected on the Bitcoin Talk forum by Jeff Garzik, the CEO of Bloq. The occurrence was termed an "overflow bug";

Luckily within 5 hours the effect was quickly corrected and all the blocks that were created containing the 184 billion bitcoin were removed and the blockchain was reset back to normal.

What's your take on this?

 

[Balint098]

No one should tamper with Bitcoin blockchain and create more coins period. Thankfully the hack has been quickly resolved, though I wonder if the hacker will ever face a legal backlash because of this.

 

[SCAMEXPOSER]

No one should tamper with Bitcoin blockchain and create more coins period. Thankfully the hack has been quickly resolved, though I wonder if the hacker will ever face a legal backlash because of this.

I don't such hacker may face any legal backlash because no one will be ready to sue him when Nakomoto has not reveal his identity.

 

[Balint098]

I don't such hacker may face any legal backlash because no one will be ready to sue him when Nakomoto has not reveal his identity.

I don't think Satoshi needs to get involved since even though he's the one who created bitcoin, no one actually own bitcoin as a whole just like the internet. Does the hacker had the chance to convert his bogus crypto to cash before the blockchain reset or not?

 

[Reznov]

imagine if he successfully managed to get his hands on all of those Bitcoins, he'll never work or touch his computer again LOL, but that was an attempt

 

[onlyprofits]

I had heard something about that news, but had not detailed anything about it.
Luckily that gap or overflow was discovered and quickly corrected and that happened in the early days of BTC, if not today the story would be different, BTC and altcoins did not have the place they have today.

 

[SCAMEXPOSER]

I don't think Satoshi needs to get involved since even though he's the one who created bitcoin, no one actually own bitcoin as a whole just like the internet. Does the hacker had the chance to convert his bogus crypto to cash before the blockchain reset or not?

He was not able to convert the bitcoin before the blockchain ledger was reset and I also agree with you that Nakomoto doesn't need to be involved as their mechanism already in place monitoring activities.

 

[Niftyicon]

It is quite interesting that the hacker was able to mine the amount of bitcoin that was so much more than the whole amount of bitcoin to be mined. It is a good thing that it was resolved quickly.

 

[Wisdom01]

Am happy he didn't succeed in stealing those bitcoin , just imagine the consequences that would have happened if he had gone away with such btv

 

[Brain]

I'm just imagining the hacker making away with such amount of money. Thank goodness he was caught right on time and the situation swiftly arrested

 

[Brain]

That is what makes Bitcoin special, it sometimes turn hard for hackers to embezzle funds easily. Cos that transaction must pass through block chain before reaching its destination.

Okay then but they need to do more work because other scanners have been making away with tons of money without trace though I sometimes feel those might really be inside jobs

 

[Josemendez]

To most of us that are very familiar with Crypto currencies activities and trend we have read from different sources that the supply of bitcoin is limited to 21 million bitcoin of which very significant amount of it has been mined, this made mining of bitcoin more harder after four years interval through halving.

Information available on Decrypt.co revealed that on the 15th of August 2010 one hacker was able to produce or mined 184 billion bitcoin which he or she recieved 92billion bitcoin each on two addresses.

The crack in the blockchain networkt was quickly detected on the Bitcoin Talk forum by Jeff Garzik, the CEO of Bloq. The occurrence was termed an "overflow bug";

Luckily within 5 hours the effect was quickly corrected and all the blocks that were created containing the 184 billion bitcoin were removed and the blockchain was reset back to normal.

What's your take on this?

Wow. I guess luck shined on him to have been able to mine such huge amount of Bitcoin . I believe that restoring the block back to normal will not make it to lose the mined Bitcoin

 

[bitforex22]

more supply would had only done the lowering of price because when any thing is available in huge reserve amount , people do not develop buying interest for it

 

[Brain]

Yeah, I think so, insiders sometimes do away with those funds. So that is the simple mathematics in there. How can someone break into ones account when everything there is kept decentralized and secure with strong password.

That's my sentiments exactly when users begins to hold site owners responsible then maybe we will stop having these daily hacking reports

 

[Wisdom01]

Okay then but they need to do more work because other scanners have been making away with tons of money without trace though I sometimes feel those might really be inside jobs

Most of those scammers online hace different methods they use to make it more hard to trace them , so tracing them might really be too hard

 

[SCAMEXPOSER]

The best is to avoid because they become very difficult to track if they had done what they want to do. The most deadly one is using malware to scam people.