Crypto Exchange Attacks – SafeTrade & Cryptopia



live again live again so you can probably tell by the title already that's as a live stream but what I want to do in this video and this live stream has talked about the recent attacks on exchanges it's been quite a few but obviously the one on safe trade is one that affected me personally but today there's been a big announcement about topia being hacked as well so I want I want to discuss what happened with the safe trade exchange I want to talk about what's happening with crypto Pia and yeah it's a big problem in capital it's probably an aspect of crap to the the main aspect of crypto lie here you know just seeing all these exchanges been hacked all the time and when you understand what's going on in the background you realize how vulnerable main exchanges are as far as you know a lot of projects on updating their code there's always security holes and all these other things and you know it's one of those things I think when you see like behemoths like banan's been attacked then you know what chances do small exchanges have financed obviously has the security teams they have the resources to tackle these things and so yeah I'm going to talk about that and the stream I'll wait a while the YouTube app always takes a few minutes to update people and because I want to you know it's not just about me talking in this video I want to go back and forth and chat to you guys as well it's not like an interview we are you guys in the background you guys are a part of the stream and you well direct you know where the discussion goes here so um that's my question I think that's my second stream of the year I actually plan to do a live stream on Friday and I the lawyer walked to finish to finish the orphan after and my plan to do like a two three or even further along stream and catch up with lots of news that I emailed myself and then the attack on safety it happened so I just didn't have time to do it plus there was also conscious about the fact that it just happened people will be asking questions questions I don't have answers for as well and and I just wanted to focus my energy on helping out the team at that point because we had a team meeting and we had other things that we had to discuss and so yeah that's why I've noted a live stream for the last week at a – that's my apology that's my excuse and but I won't talk about the safe Jade attack I wrote to him I will talk about what happened hypo and obviously we're always there when a definite subjects as well feel free it pulls something else but I do want to try and focus on what happened with safe trade and what's happening that's good to hear today this is something that affects all of cryptocurrency all of cryptocurrency even if you're you've got a coin or you're associated with a coin it's not on a particular exchange that was hacked I think in general all these attacks are really damaging for cryptocurrency I know some people say that you know this is where the exchange wasn't secure enough and all that but I don't think any exchange or any project can ever be 100% secure I don't believe so maybe not in today's world and but this is something that the team the safe coin team is trying to address with secure nodes and you know say up the whole system and a different way and the roba implement changes in cold storage et cetera as well we'll talk about that later on so I'm just right when I'm IV remain so so aim Wow I want to talk about as a safe coin attack now that's this kind of one of the weird things about us it's frustrating for both sides as far as what you do when an exchange is attacked no this isn't something I had really thought about before because whatever you hear about an exchange being attacked you see the announcement and then you know you see people reacting to that known to an xhr but through this whole ordeal I've been able to see what happens at the other side of the fence and see how the team respond to things and it's quite difficult because obviously from a security point of view there's certain things that you want to tell everyone you want to be as transparent as you can as transparent as you actually could be but there are many things that you can't see because doing so will could hurt the security of the exchange and of the project and because the attackers are monitoring everything so it's a kind of weird situation where you want everyone just to trust you you want to assure everyone listen we're dealing with us don't worry we'll sort but it's kept eleven ones transparency they want to know what's happening in the background as well but it's kind of difficult because you could really you could also make things wash by revealing too much information publicly aim it's kind of obvious situation here all this good to see me next to drop by and now there has been a flow of announcements Nassif coined escort and the last one is probably the most significant and rather than me part of freezing everything really badly it's probably easier if I just read it out to you guys right so this was the nicest when it was published UK time three in the morning it was kind of nighttime Yuki kind of the time so Jeff posted us some nice pen and there has been there's been updates every single day since the attack and he's tried to explain exactly what's happening the whole way as far as it had a roll back for safe coin and updated all the pills and all that but since last I know you spend I want to talk about and stream so aim can I make this bigger you can see of a certain forked to be honest idea I was looking for something with that right can I make this bigger let's make it bigger let's make a text beggar hey let's seize 2019 no we need backup takes right hello everyone I just like to provide a quick update and again thank everyone for your incredible support and patience so many of you have shown we are walking through the investigation process of no shaft either main focus to the cover a phase of safe treat the part most of you will no doubt be most njc done our team has decided that we will not resume that we will resume not only for the cones but filtrating safe trains and free structure will be reinstalled from the ground up as and it's not going to just reboot the exchange is going to start an exchange then import things over and with the national appropriate security measures based on findings from an investigation as well as a strike digital cold storage policy now this is something I can't talk about the same things I can't talk about because certain things are still ongoing as far as the investigation as far as what happened etc but that is something I can talk about safe trade has been has seen an incredible amount of growth in the last two weeks of operation with many coin of entities such as Bitcoin quadrupling and amout of days where we are pleased with the rapid growth we intend to be fully prepared for it when we launched this means increased security in their local storage policy we are very pleased to officially I notice that all balances and withdraws will be 100% honored in all forms of currencies including back coin that's as something that many people wanted and as one of the things and the discord that many people complaining about when he gonna tell us when even a tail is that we've got all our money back and all that so that's something I'll talk about less on a second hi max good to see MIT and yeah equi pill was ddosed as well Israel that was disappointing as well so I just I'll get through that's an L train big down it's quite it's a wall of text I don't need to tell jf to add some paragraphs and here but as a wall of takes you know I'll break it down enough to listen and give you my opinion on all of this we're very pleased right okay thank you for your patience we simply need to be able to have our statements backed up that require teamwork investment in time Lewis Jones the roles well of course from this point fall under coaster storage limitations meaning that past certain size limits manual Joe will be required expected within 24 hours limit sizes may change over time but in tempted adopters policy permanently as we position ourselves for growth and keep risk minimize and Vestals protected with controlled floats simply put we're going to make things ray and we're taking so much opportunity to achieve the high standards possible I would like to specifically thank those investors who made what committee and liquidity possible for all of us you know who you are and in what Jeff is talking about here are investors who commend and provide the funds to give everyone their money back essentially and you forget sometimes are the most important people and safe coin yes you've got jf yeah if you yes you'll get the team but there's a lot of investors who have invested heavily into the project and they've helped to in many situations many sticky situations like this it's my catch of the comments and I will remain the world's beginning of stream tomorrow this marks he claimed that command at the right time I was just kinda seeing her at the start hi Jose yeah exchange he's our target and it makes you think when you know if someone without you know mobile phones a target for crypto someone with alleged wallet as a target exchanges are obviously the big fish in so that was a really good announcement by Jeff I need to tell me use paragraphs but and ether one was attacked and of course they feed him classic attack yeah I was reading about the theorem classic attackers well I was a 51% attack I don't know he thought one was attacked I don't know about that when was that recent and right I just want to break down some of the points here the Jeff posted here as I say the same things from a security point of view and all these are things I can't talk about and I wouldn't want to enemy know publicly because it could hurt the security of the exchange but what what Jeff is talking about here as far as a digital cold storage policy right so when when they stay safe trade exchange was hired last week there was like eight back coin that was stolen most of it was in bet coin but there was some are even some I think back coins II some safe which we could fix with a rollback and why he's talking about the air as as cold storage goes as that I said look Jeff was was basically ready to do a complete change and infrastructure update what the exchange because he knew that you don't want to have too much money and the wallet or online wallet no basically he was he had like one or like I was like one back coin or two about coin kind of floating around and the online wallet or only exchange should I see and he was ready to implement a cold storage system whereby if someone wanted to withdraw over a certain amount see it's point five back coin or one Bitcoin where they maybe he would have to get those funds from a cold storage wall that basically means it's offline no one can hack it no one can take the funds but as he said and the announcement here he saw a huge amount of growth back coin quadrupling and a matter of days now that that basically means that instead of having one Bitcoin of two Bitcoin on the exchange I had sex or seven or eight Bitcoin yeah date back coin it was taken and so normally you think what the volume of the exchange the trading volume going up this is fantastic news for the exchange it's more profitable as a great thing but I mean I don't know we still don't know why I still don't know anyway I still don't know how the attacker got the funds but I'm not sure if there was monitoring volume I don't know why but it was obviously paying attention but it's kind of unfortunate that just before he implemented the corn storage policy that he got I cannot jump in traffic normally that's a good thing but it turned out to be a bad thing in essence and in this instance because a the hackers you know walked away with more money and that money has to be recovered a how much was lost from safe trade it back coin max not sure if you had me seen that before hey see ya if they won't exchange wallets have been shut down can't move it or nod off exchanges that's the same I remember spring – the guy from ether one he come he came across as a really nice guy and yeah Chris is right just underneath back coin and tall but there was some other coins taken as well so the other big thing to take from their management today right and this is that this is a the whole community is really pleased with us annoys me because that sees the announcement they've been waiting for since Friday when it happened but when you think about it like three days to actually come up with an official announcement that covers so many different things when you realize what's going on in the background that is unbelievable know what they're talking about what Jeff says is talking about here as far as he's got here we are very pleased to officially announced that bouncies and withdraws a balance season with chores will be 100 100 percent honored in all forms of currencies so I'm oh yeah when I talk about who topia soon Matt I'll touch upon now I just want to cover that first and I just wanna kind of rearrange to what happened in Frady no I said earlier I was about to do a live stream on fraid I was about to do like a three or four hour live stream and then I was reading on this score that safe trade was hot and I thought it was bad timing for me but Jeff was actually at work and I think he had a couple of sleepless nights a literally zero sleep and so when this happens you do get some people to community scene will bounce back you do got other people saying well best of luck hopefully I get resolved but then there's people that as you would expect they've lost money where's my money where's my money where's my money and what they want maybe if they don't want the money right away as they want a commitment that they will get our funds back that is something I agree upon and when we were in the team meeting myself and a few were like listen we need to tell people they're going to get their money back and then we were what ko-hoh me we do it will work out with investors will do whatever but we have to see you're going to get your money back but Jay for the different possession on us he said yes they're going to get the money back but I don't want to see the animals getting the money back and Tolia how we get that money and after he talked about I must have matter what I did come round to it I'd I'd come round to and you know there's like many ways to kind of approach this type of thing but the way that Jeff he looked at this and he's a very convincing man when he starts talking because he he's really good at the read a lot since everyone your team but the way he said it was lesson as soon as we see you're going to get your money back someone else will see well how you get in those funds how you're going to get those funds and then if you can't answer that then you'll see well you just started you're saying that just to Stoppers you know I mean and he's r8f he came out with a statement saying lesson you're gonna get your money back someone sees or how you're going to get that money and he couldn't give a good answer or he couldn't give the truthful answer then people say it's an exit scam he's buying time and all that and even though you know he still got that name that people were saying it's a scam and all that but when all that was going on and when I what people were complaining and the discord and you know many people were obviously upset by that he was in the background falling people dealing with the actual hack as well but also falling people speaking to investors privately on this court and telephone calls and all that he wanted to ensure that he could secure the funds and he then he'd done so and then he's got the announcement here it's one of those things because I mean any of you guys under safe coin discord because basically over the last few days we couldn't see officially that everyone was getting 100% of the money back despite the fact that we knew it was going to happen and it was s we're set to eat and I do I do I do think that Jeff's approach to that is correct when you think about it after we went out and seed you're gonna get your money back someone says well how you're going to do it how you're gonna how you're going to get those funds and then if you can't answer that you're looking stupid and then it actually looks like you're lying and but I was walking in the background it was a B wanted to make sure it was official he's done so now and without being too she's a camp you know without you know without Jeff Jeff has been I can't believe how good he has you know what he does as far as the business data thinks and I think you handled it really well as well as you can handle any attack and but and may be a little bit biased than that because I know what he's been doing in the back greens and all that and as a lawyer other things he's doing the background know that I can't talk about him but yeah I'll catch up with the comments though you saw the guys I went on a rant oh no no right I wanted to get through that and just kind of explain what was happening him at least for the benefit of anyone who's been on the safe going to score the last few days and I think if you bet on to see if going to score the last few days you'll probably know that you probably know that has been in too tinning it's probably one way to put it um right a class morph and not sure how much to back a bunch back from eleven Mohini unless that means super profitable yeah yeah I will take a look at that I say I just wanna get through the comments a might say that the back coin worth of X p.m. on on the oven was about to move out oh that's a shame do you think you'll get that back man do you know what the star says so there's a neater one attack as well say no ether one is lost the caught it in time and in the process of trying to part against 41% attacks as hard man is as ha I think you see when I started my cryptocurrency Johnny I think I must have mattified to go back and look a lot of videos I think that my response to many things results you know that's bullsh√°√° I can't believe they got attacked or I can't believe this but see when you realize this there's so many these developers which in comparison to me when it comes to the decoding you know um I'm pretty good at HTML and CSS and I can I can add that PHP with a vessel but these guys are borderline geniuses compute to me they really are the real are very smart people and when you see that these guys are struggling to deal with the tax it really does it really does make you think um you know it really does make you think how def ago is to run a project and there's a lot of good people working on a third one so M as a fair point Aston I mean as a remainder that really if your user in exchange unless you are at redone even if you are at either you should only really keep a lot of I own in exchange but a Furyk trader you really should just sort if you just anyone anyone involved in crap to send some money to the exchange exchange it and send it back to your wallet don't keep it set in here unless there's some dust or anything like sub $100 don't keep it there and yeah you're right red for danger and right so let's jump ahead we've talked about safe coin let's talk let's talk about creatopia so that's a skatopia em so you can see here creatopia is currently an unscheduled maintenance mode we will be back we apologize for any inconvenience now they're not being vague they are they have been a transparent enough to a current for some reason doesn't displaying I think it's a DNA so sure but a coin desk right New Zealand klepto Exchange Chris Walker goes offline sighting hack has gone off like a in fact guys I just want to post us read along with me if you want and I'll post a link to safe coin you can get yeah the tweeted roadmap and the reason is I've got some weird DSN DNA issue with with I think it's Windows and two out for whatever reason hasn't playing nice I don't know why I'm left flank stay safe going in and and they article I'm invited to read so you can tell you gather the safe coin discord link through the safe coin website and the back wing talk I know that as well the exchanger noticed a announced the news on Twitter smallest thing that has suffered the security beach resulted in significant losses these changes website including support you ever seen that okay mean real tweets from real announced on Saturday and the key the 19,300 81 ether ether tokens worth nearly two point four four million dollars and around 48 mo in centrality never heard of that see II in in Zed worth one point one eight million we are transferred from Catawba to unknown wallets on January 13th so was that two years ago and the major not we da they've involved the relevant government agencies including the New Zealand Police and high tech claims you know who are jointly and actively investigating the matter as a major claim and the assessed thing that's the thing I was right okay and told us has been carried I will remain a maintenance mode a who was on a kneecap credit who the person I shared me that's jip jip on a safe coin she had me thus this was a someone a does own rather create OPI Hayek analysis minimum 13 more install and know that that's a lot more than what they're seeing here the scene here was about 3.5 million or so about more than three points X and but acini a minimum 13 more in stone so they've got the transferred that's the ether that was spoken about in an article there's the sea in NZ but they're also seeing the daps $304,000 and so that's 2 billion that's one was 1 million this one's three hundred four thousand dollars was the rest of it a total bounce to address 11 million dollars I'm I'm missing something here we had to get an extra money from saying the dads were transferred to this ethos can address a a thorough J sorry autonomous it ethos can now and right so that's a summary that's the bonus that's about as much as I know right now other than what I've seen people posting and discord etc and knowledge has $1 50 or 50 topia and so it was aetherium and the ERC 20 and same address and see this one and looks like money's been chef Donna basis that's not really going to tell me much me addressed to the seats urges I'd actually have to be been a full follow the the crumbs and the daily okay any other updates as to what's happening with out right now right it seems like it was mainly a freedom in ERC 20 and cen NZ and what sort of and apps what was adapt em no updates and I've been quite vocal about the fact I don't like trattoria because my only experience worth copia was that when I deposited money there it took about twenty two days for my monaro with Joe and I think my dodgy Bay took about 23 days or something like that as well it was about three weeks for withdrawals and when I did contact them about it they didn't reply and then when I say that my message on Facebook they sent me on an automatic reply saying will reply within 48 days so my my opinion of utopia was that it was a very pure exchange I know if you remember when I was at the conference in America I was doing I was actually alive like I am right now with my phone with the gamble that someone yes in the background there and I was live and the gap Wales that was under view in someone the croteau PA guy he was right next to me and I was so tempted to ask him a cheeky question and it was it was 48 disma and I was so tempted asking a crappy question you know and just you know be cheeky but it was probably one of those things this is maybe the guide it's actually faxing things rather than the guy that was a problem I don't know I don't know and pumping dump exchange who benefits from this type of volume the exchange they've always been shitty yeah they've always been a place that lasted newer coins in scam thanked great know the beggars exchange for that script oblige muddy Friendster okay so US government is closed that means a see see his clothes should be clear about wall sheets backed entering the space it won't affect fee a place in the short term a muddy funster is that there the futures thing I was following that before Christmas but I've not been following what's been happening with that recently and as other futures I think that's the futures thing you have 48 days okay the futures I'm not sure how you I'm not sure the whole back coin features thing I'm not sure about whether it's a good thing and a bad thing I've seen a radar of articles seen it's gray it's how you're gonna get all these investors and a cryptocurrency but I just don't like the the fact that people are gambling on back coin I'd rather the invested in projects on invested in hardware or companies that that were invested in cryptocurrency most of the ERC 20 they stole probably have a lot all the credit the enemy and I mean see with these tokens like what happens I don't a lot thing you can do it roll back with talking's can you can you I don't know enough about tokens as far as how it works as far as you know like with the regular project you can do a rollback and you can do a rollback you know back to a previous block but I'm not sure I'm not sure you could do that with tokens could you me is that an idiotic question if as I'm sure someone will will use this depends on the token and yeah it's something I've never really thought but it's not good news enemy I think they have the opportunity to have the token re okay right okay and I mean again raises the question you know I kind of talked about this last week when I was on the team meeting with safe coin and I was like that's unless is terrible news it's really really bad news but you go ahead look in the bright side you know like the $30,000 or whatever that we've stolen that's can be recovered as far as you know we can put the funds together we can figure out F that's 100,000 I thought was a million dollars you know it's like the end of the project and I think my guess is that copia doesn't have that money but it may be evil together and may be able together for a start to Autopia sup i got company they've got a lot of staff and all that but if you think about from an investment point of view if some investors came along and say lesson real gave you you know 15 timo in dollars 50 million dollars well maybe we will do that too by 30 percent of the company or something like that and they know that when its back online if they can make some changes to the exchange make it more secure that they have a profitable exchange you know there's a lot of people that when they look at klepto crunch say they're not looking at just buying coins and Saturn on them they're looking at the business opportunities they're looking at getting invested and in exchange I know you know from safe trade there's a lot of people that have been trying to get invested and by ownership of the exchange as far as by a percentage or rather and so it's one of those things I don't think they've got that money in reserve I don't think they've got that money in reserve but the question I scan near cry that money through investors through you know whatever they've got there I don't know but if they can hopefully the exchange can see it's one of those things you know what and I know that alloy people have the approach that well another crap exchange bites the dust but I also think that competition is good and also think that we do need some of these exponent exchanges if only just you know so that smaller coins can get lusty and I know as a haven for pumping dumps and all that as well don't agree with that you know smaller exchanges do tend to last lesson on coins rescuer coins and but I don't think it's good for any capital conceit project to go under certainly not in this way it's not good for capital currency really want more companies to come and to be compared to push up the standard I'll push up what we expect from exchanges and and who knows you know if you look back at many exchanges that maybe some people think are good now if you go back many years maybe they were really bad exchanges maybe the the service was bad maybe they got attacked a lot I saw someone posted on reddit where they kind of posted a timeline over the last five years of a thangkas Manero and manera was one of the best projects that I mean I would say I think you know I know enough about it to know that and I know that there's always people that I respect and they say that many it was a good project so you know beyond reading the right paper I'm not going to claim to be an expert on that project but alloy who are experts I've seen it's a good project and if you look back at the UH timeline there's a lot of times when they were attacked and while it wasn't working and they've had four or five years to develop and and it sometimes sometimes easy to forget that a lot of these companies all these projects they have to get through the kind of initial fees by the same time there's so many scams there's so many new coins out there there's so many new projects are there the a scams that you need to keep you arrest about you and money from states like Bitcoin is a global thing why we waiting for the US government to be open yeah it's a good point is quite a it's quite strange how influential the US government and what's happening in USC am as influential on on what happens with Bitcoin I don't know if animals got a splat a I don't offend anyone's got a splat and as far as we're back coin is being held as far as percentage of it as an easier a percentage percentage is in Russia the Middle East I'm not sure I did you know after majority of Bitcoin is done in the USA then I guess that makes it the most influential market I'm not sure Russia yeah well you know there's a there's a huge amount of farms and Russia there's a huge amount of farms in China as well over time the number of socialized exchanges will probably diminish aim I think I think the number of exchanges will only diminish when regulation comes and a the way that jf has done is registered in Canada and all that there's a lot of exchanges that popped up that aren't registered anywhere the aunt transparent no one knows who owns that no one knows we are the best and yet people still use those exchanges and alloyed people would actually advocate for that you know I I do realize that you know a decentralized exchanges where everyone should be heading towards but I also think that we need to know you know who who runs an exchange you need to know who these people are they can't just run away if in it if there's any problem and regulation is a dangerous part to even bring up in cryptocurrency some people think it's the worst thing in the world and then will tell you that everyone's gonna use capital it is you're not gonna have one with a dollar and I don't from safeco and just kind of posted me a memo Padma I feel watching Adam I hope you don't make me just copying and pasting what you sent me there so that's as this is apparently croteau pious losses and I'm going to post us in the coma niddy affair woman to see and I'm not sure he's getting this from so Sokka Toby's loss he right so oh that's why it's not letting me it's not let me because too many right ku Toby's losses and croteau PSE right so cen NZ 1 million cup 200,000 apps 300,000 dint three and a half million dollars so that's was what was missing from that reddit post Lina $200,000 MSP to mo 100,000 100,000 1353 I mean that's this is a thing after as ever as 13 million dollars like how did he come back from that I've got no idea how to come back from that I really don't and but again maybe you know F no safe coin can can get investors and acquire the money to repay everyone back and they can do it within a few days maybe trattoria as more established and has more established so I don't know Aston if Y was dock poin you a why was da Queen news for lusting physically topia I'm not sure I just assumed it was back Queenie charged is that their own coin is that their own project I'm not sure yeah I mean if I mean it is one of those things I mean whenever something like this happens a lot of people do investigation and they start investigating what's going on and morning's I I'm not sure class a maybe they do have a war chest of that coin I don't know it's one of those things you know FF a company like that makes a lot of money as a bear to store it and like an emergency situation like this as a bear to invest in infrastructure and staff and contracts and promotion also how much how much say I mean if they're making a lot of money how much is simply paid to the CEO know that as bonuses and all that and how much you know how much of that money would those people be willing to pay back when you can you know simply walk away or whatever I'm not criticizing the people for that but you know I mean you most companies though they pay their CEOs and all that and then on very some and then he'll keep some but most companies I wouldn't see we keep the amount of money you know can a bank account or and a cold storage wallet and I could be wrong though I really don't know that ends and outs is hope of ho-bag exchanges or pity it's about as wholly structured investments and all that and can come calm or is that the guy that there was been attacked by the USC government's tried to make sure them so a people hey the guys didn't see if comer laughing see I was more tasks in there have a message and they saw the other thing I could talk I don't know fish is really good doing this loophole Aden is living this robber who aim I said I found this interesting I think from from the attack on a unsafe treat from Freddy I think that the last few days has been quite interesting pink ray ingesting as far as how everyone responded like with thunder first I love finding out about the attack every when the teams like lassen move thought that so it will figure we don't know anything yeah a bit attack we don't know how we're going to do it but we'll do it and the team is the team said that the safest team say that and most people in a community like West we believe in you know that but that was obviously many negative people as you'd expect I'm not criticizing them but there was a lot of tools as well and it's great and tasting to see how disruptive tools can be and at the scholarship I'm I'm probably more of the hardline approach we are at people when they're posting lies all the time just ban them why waste all your time out in with them but aim it's difficult to do that and a situation a lot of people think you're shut them down and not let them speak and all that and by there's a lot of people who come on and they were just posting lies this is an exit scam I knew it would be an exit scam and but also they started just making things up and then what successful trolls do is when you respond to them they don't listen to facts and they'll respond to one thing that you see and it can be hard to handle that especially you've got a lot of people replied and but these things can hurt a project long-term as well but my response to all these kind of things when you see a lot of trolls in a community and I'm not obviously if going any any project I've always got approached that you know pick up or shut up you know you can set anyone can set behind the keyboards and criticize people criticize his team and all that but just making things up you know there comes a point we really just have to back up and prove what you're seeing and that's this is a promo choice but if you look car if you look at Bitcoin talk we were talking about Saudi how back coin talk is went down how quite a lot it's just full of trolls and you know showers and all that and there's a lot of good people are gone yet as well but it's also the world where hist muddy friends that I said a few weeks ago back when this was a perfect Keyes thing I discussed happy t syncope I was right smugface event that may even the smug face and I thank Dave double seven from each xx is a utopia finder not sure who dies imagine you can express an opinion online but they actually seen it in person your face your voice your name you know well that's the thing basic piece of what happened the other day there was someone posting aim that was complaining a law in a discord and I say it lesson I will speak to you privately and I will explain rashly I'm not trying to pack anyone I don't want to I mean I don't I don't hear anyone even the ones that are posting crap on the discord I'm like listen why don't we just talk about this what adults let's talk about this and we can do it publicly if you wanted to but let's just talk about privately and I'll explain what's going on in the background don't worry your money safe what does so and the the guy went come on and talk to me and that unless is the problem that you've got you know annoyed people will say oh you know why you didn't that's why you don't now listen I'll speak to you on the phone no no no no no and you're like well you can't have it always you can't set the ad attacking people Pearson you're throwing personal attacks everyone and then not backing out with any and from a son any knowledge anyone can just post crap contain an account but to actually step up and that's what I think that can I remember all this because it was all about annoying people were cenotes and exits come when safe coins got one of the most public teams out there and yeah that's the way I look at it as well if you don't know you don't have the balls to say something to someone you know you would see in person they don't see it but as a youtuber who gets comments every single day I can assure you that that is not the case that is not a policy that everyone else has that is not the policy and yeah unfortunately that is no work unfortunately as no way people do and I look at read it and see if there's any more information about to appear as I've said I don't realize I was a Tokyo sub form and how much they could hope you lose two million yeah so you can see everyone's kind of investigating what's going on well you need a member as we although see if there are D traders does I think there's an assumption that in all the most successful traders are on pine and so don't bat checks or somewhere else but I have no doubt there's a lot of people making much more money simply by going to smaller exchanges and maybe you know from a trading point of view people are not as experienced or maybe they're simply treating coins you won't find on the other exchanges but there won't be a lot of traders are going to lose I own this as well but the thing is the thing that I found interesting is well from the safe coin hack and it's a clever policy drive because then you become a whether it been more reasonable from personal experience yeah I do as well I thought I think see see if you're not willing to try and see the other person side and you're not willing and if you're not willing to at least try and see the other person say it if you come on if you come to any argument any debate and say this is how I feel I will never change then then what's the point what's the point of talking what's the point of debating there's absolutely no point if someone's just shouting and they're not welling and they're not willing to have any kind of debate about her and they're not willing to change their opinion I have changed my opinion on many things simply because of SAR and discussed it with people and looked at the a their opinion and this is something that perhaps more people need to do you know politics and religion or whatever in Brazil in klepto I think there's a lot of people just you know just shouting out their opinion and they won't listen to anyone else and they think that they're a genius and everywhere else everyone else is an idea I think it's a bad aim I think it's a bad actually to have in crypto and I think you have to rely sometimes that there's always someone out there smarter than you and even if they're not smarter than they may know more about a particular subject than you do baggie without you know you shouldn't say something to someone that you win see to the face in real life a max could cow some small projects if there's a large percentage of supply on topia em I would think I would think that ffs it was a good project on Crete Opia and they realized that see 20% of the supplier whatever was on utopia or the exchange at that time I would say that that justifies a rollback I would see so earth Nautica taught the long term and success of the project now that's never a popular thing to do because when you do a rollback you solve an important issue such as a hacker what about you roll it back and you will solve an issue for the majority of people but there's always a few people that perhaps they traded perhaps the the main the law of coins that Dave maybe they spent hundreds or thousands of dollars on meaning for those days renting hash code or something and those people will lose out because they've maned coins have since been rolled back but I would say that generally speaking efforts a small project the I would see a robe I mean what's your opinion on this I would say that a rollback would be the best the best move for most smaller projects I know it's definitely when you get to like aetherium level back coin level and all that it's just simply not practical but for example last week when safe when the safe trade exchange was hacked mjf was speaking about during a rollback and not one person that's agreed with her they say that was you know it was the right thing to do and it was the whole community agreed do a rollback as the right thing to do and obviously there was a few people that made that deal it would have lost the coins at the main but I think even those people were like listen it's fine don't worry it's the best thing for the project and I think these hikes will clean out some of the carp exchanges and I don't know what I stand on that because I don't know I can see that possession or less I can see what you're saying because I think you could take that you could take the possession we rff these exchanges can't survive these hacks just know then maybe you know sex monster in layman a trading volume is five attained things higher they lose more money and then more people lose money and more people are affected maybe maybe as they are long term you know sale in the short run the company will lose out the people involved in the company the people who have money on exchange will lose i but perhaps long term F small exchanges go under maybe that's a good thing maybe maybe you're right I don't know I'm not gonna sit here and say that by the same time I just don't like all these attacks going on and I don't I'd rather people focused on positive things and all that but I was seen that too Jay if I was like lesson if we come out with us we could come out with us much stronger that the exchange is going to be more secure and people some people may say I'm never using an exchange again I can understand that certainly if you've lost you know a lot of money from it in even if it's refunded you'll see or I still don't trust my money there 100% but I would say that generally speaking I think that if you survive an attack and you come out and then you implement better measures then maybe that's a positive thing to take from it and maybe that's maybe lies survival the first what do you guys think about that but they said it Cana goes against his capital philosophy yeah I'm trying not to certain offence here but I can't see what knowledge try suggests but at the same time I don't agree with that and how many times can you go back and theater you can do as many roll backs as you want and has the de Robeck syllabus and yeah it does become harder to do it later on it does become harder to do a roll back later on and FF a project has reached a certain point and not enough people agree with that this is when you get the project forking and like well we don't agree with that we're going to fork and we've got the original chain and you've got the new chain that type of thing and I'm good exchanges do get hike to and I don't think it's a good thing PRC aim cause he seen it all depends biome usually against all backs from reasons well what would you think would be a good reason for a rollback Ozzie it's difficult because I think I think that whenever you do a rollback you can't please everyone and someone well lose I anyone who made the coins between you know the rollback D and then afterwards you know you've got as period of time it could be hours it could be days could even be weeks I don't you know depending on when they roll back to those people well lose oh um and there were lose of' they have bought coins on an exchange it certainly becomes something you can't do when the coins are on multiple exchanges because you need to everyone to kind of jump on board with it back coin private needs that rule back yeah I think I think Gavin that they phoned that it was like three million extra coins I think that was the right thing to do I think that was the right thing to doing up and out situation but I agree I gave it may be what was he's trying to suggest maybe I'm paraphrasing what you're trying to suggest but it shouldn't just be the default answer it shouldn't just be the default reaction let's roll it back again that cannot be the solution I'm talking about extreme situations when you know a large percentage of a supply is been affected and money France the weak hands exchange has been taken a a good thing also lays back coin volume exchange is better for Fiat place at least less opportunity for dodge exchanges to fake their overall volume that's that's a that's a huge problem that's aa covered on a video last month by some touched upon again where the vast majority of exchanges are reporting that they are getting 100 times what they're at the gating so if they get to Mao in a figure like ten thousand dollars daily trading near reporting that they get ammo indoors it's in scene and crop exchanges been raped I it's one of those things or as woody call a crop exchange though you know it's that that brings up a whole different debate again um yeah what what what do you call a graphics changer what do you cover good exchange because you could get the reason I'm saying this is because creatopia for example I thought was crap crap topia I thought was crap before because with Joe's took about three weeks and there was no customer support but and theory I don't know if a doubter was a case but an theory they could have had the most secure exchange in the world at that point but after customer service is pure you see it's a carp exchange if the volume is low and there's no coins to trade you see it's pure I don't know you know there's lots of different ways to to review an exchange as far as whether it's good or not but probably the key topia doesn't one of my favorites was he sayin if something was potentially going to curl the coin yes yeah yeah yeah I do agree with that you know it's not something that should be overused I think it's really really extreme situations and if something is more common to to occur at the start of a project when certain things are more likely to go wrong I'm happy TC happy TC is one of the exchanges that lied about volume I believe yeah they did do last quite a lot of a bad exchanges ah all the way from Venezuela whereas Diaz Ronis is well welcome to the stream the least a deposits were delayed to and no a delay in deposits and withdrawals what kind of delay talking about aim because sometimes sometimes at the Lee is a good thing if you're increasing the confirmations for deposits and withdrawals for security reasons it's not necessarily a bad thing and I can actually avoid things like double spend attacks on all these try doris won't clap but it's very good and works well it's like some some exchanges are small and I like them because they are small like I like none Exim just because I like denna face and I liked him I thought whoa quick quick you know the whole system was quick quick and or the day for a brat in Spain long time no see I'll get to see again me yeah the way the YouTube like I'm the same without cuz I work I'm about for YouTube junkie I watch it more than I watch you know regular televised not the watch regular at the worst regular television I'm always on YouTube or Netflix and yeah some things this this channels that I love and they just don't pop into my home feet I don't know why Maxine is talking tangle a Shira Maximus that's only make it harder for new projects to get lasted anywhere for a lot of new projects get on keto Pia was a big goal how much did they how much did they turned on notifications or chills me and here's obviously use every comment here look you you're not rolling with today on you you're not rolling with crypto is day itseif coin is dead I'm just getting some each of you here is that near a glass of wine right now you're laughing your head off and theory Bitcoin surely cannot be as high as that but they'll be back in days if the judge stated back coding for the last thing I think it was high though like for what did the volume irrigate I think the fee was quite high and the fee was dogcoin I think at one point I think they were charged on like five back coin or something actually go I used to before I kind of removed private messaging from discord I would get these shiny new exchanges that we contact me saying because topiaries charging you know five or six pack coin will charge it to it for our exchange and then you check the exchange that there was like zero volume absolutely no one trading there are no customers and I will just try to make money from it from the last things we are not saying we use a lot of kept when Venezuela are not trading much in central exchange is just peer-to-peer how does that work in practice how this our work in practice there's like as everyone just sending money as at a particular app that everyone uses to send money to each other you know are people paying for a car for example someone paying for a car with back coin they're using an app or they just scenery I'll send it your wallet you sent to my wallet or quit and tracing the people aren't using exchange there I mean not as ideal really F go obviously aim there's only rests involved with that but that's pretty cool that people are doing that what were they using it to banquet and chasing this what people using it to buy the using it to buy cars and hoses and things are they also doing it for smaller items televisions pops mother funders asking why is everyone maining an F so what and Howe I'm not meaning right now and assembly because I mean I just taught my PC off know where I'm not meaning because I run at a loss when I mean I lose money stop doing it and everyone keeps on money in back coin ray okay oh you mean in Venezuela was people Manning in Venezuela and I believe a few people say that it does don't mean mainly feed him over there I'm not sure if that's the case yeah re p RI pgp remaining nah let's say that today the near the a the technicals see if I can find that video aim I'm sure you guys are aware of the technicals YouTube channel aim apparently he posted the video seen um he's going up GPO meaning as well and I think you know I came to this possession like was about four or five months ago and I think as reaching other people know that I've got Lord act electricity rates and see if I can find that for the older can I find this video so I'm not actually worse test with you yeah the reason I've not watched us with you know less same in this video today but um I was at the German the time so I couldn't hear I don't have headphones but the one he was talking about was that's one sailing off a percent of my GPU remaining farm and it feels I think you said it feels good so it says it feels great there we go it feels great I'll post the link to his video if you want to check out but um he's obviously focused a lot on GPU maining is always had a big farm so the fact that he you know he hasn't really doing it anymore as I guess quite telling where we are in the market right now and I think that people in the UK and Europe got her cracker than people in the US see we people in the US see could hang on about longer than we could and the electricity you know we reached the point where it wasn't profitable to Maine back in like August are so really or ggest I was breaking even July August I was just at the break and even point I should have sold then but I waiting till about September um griot no – just invest much an advertisement I've got several merchants all right source in Venezuela or is he saying where I live I can pay most boughs with Bitcoin Electress a car registration water and the rest BP and the raise BP doesn't Australia quickly other than that they're integrating that kind of thing enter and we neither network of coins are capable of atomic swaps between one another and a decentralized network of exchanges that are peer-to-peer with master nodes that'd be quite cool yeah and they work right so that yeah you can do atomic swaps between the coins yeah I mean I I don't know how difficult that would be to to him to implement he's spammy and tracing username em cause he seen that the tentacles is moving into fpg is and yeah you can actually see it on his channel he's got the fpga meaning juggernaut came to make say i've seen a lot of people doing that and i have been reluctant to go down that road sampler because when I crunched the numbers with many FPGA is that people were talking about haste all seem like I wouldn't be breaking even for like like two years or maybe never I'm I know that a few you know as anyone else really see this I look to FPGA is looked at and numbers and thought I can you know make good money from this the promenade with a lot of fpg is as well a few look though the FPGA is I've worked out many I'm doing algorithms at glider Tuesday then all these other algorithms that limiting you to many kinda new ash coins many of which are spammy coins some are good but I'm yeah just I just couldn't see myself spending thousands of dollars to only main a specific algorithms and the fact that it does look like I wouldn't break even you're like for like a year or two maybe even longer and that was assuming that everything stayed as the wheel just know you and and today's market and today's market well how is that going to happen I don't think it's gonna happen anyway thinking we may see profits going down let's go by rail before we we had a bill done and begged week 2018 is gonna be an interesting year for GPU fpg is progressive peripheral work Asics anything and the prefer what Karina yeah I don't know I mean it's what do you think I'll be there and I mean do you think you think 2019 is going to be the year that GPU maining keen devane's and everyone transactions definite solutions such as physics or bhava am the take was moved to don't say by a percent was pair flat making sense he's also keeping his feet and to crypto mining and some hardware which is still keeping Ritchie is still keeping Ras Co he just said it's too time-consuming verses the profitability and ok I came to the same conclusion I thank you I mean I've not looked at the value yet but I'm sure he's right I came to that conclusion as well and that's why I was considering I was considering selling like me a gin last year because the profits you know he's making a lot about every day but I was like I'm spending all this time monitoring pills and and and tweaking everything and fixing all that you know rags were always going off and on for whatever reason because it pills or whatever I'm like I'm actually losing money here I would make more money simply by doing my job a lot more money and over time it just became harder and harder to justify it and then I was at the point where I was baking even and then I was at the point where I was losing money so yeah I've not seen his video yet but I'm sure it was the right decision it sounds like it was the right decision M take a look at what the devel and various with her and coin t go see he has secret batteries need the secret sure fpg is simply done about golf and grandma was talking about this website Quantico so this is s back in Venezuela send and receive capital currencies over the SMAS no smart phone or internet needed she didn't need you don't even need a smartphone you just use a basic phone so are people using that's in Venezuela basically send money via text what did he charge for that assuming you get a cut they were gonna cut surely was there cut I want to know your cut what's your percentage there you go 1% hmm okay so it's not too bad if the example shown you Zane they are so interesting no because I think him I think it's easy forget there was gonna work in the UK market may not work in the US see and I may not work in Venezuela may not work in Asia there's gonna be a lot of different payment systems on all the different apps and you know that proved to be successful captain happy is saying the proof of work will be less important eventually and yes I would Dame I would agree with that I would say that that you know we see more projects move towards proof of stake and masternodes and all this I saw someone say no that if a coin can't be can't be attacked by a 51% attack then as it taken clear cryptocurrency and then were explaining that you know this is maybe something else it's not a cryptocurrency anymore I'm not sure with us a whole definite debate but I do think that when projects are seen you know how easy as to attack a project after your a new coin what would it take to really 51% attack your coin $50 investment on nice hash to throw your whole project and it does array so I can see the attraction and see right people are moving towards previous stake and masternodes and although the dev works the dev works atomic swaps that are disappointing though many coins supporting and they've been around the whale nobody is using too much atomic wallet has a nice user experience in developers there's a good library and the kid and they get hub hey I've no I've no user a gentleman here actually used atomic swaps it's one of those things is I would agree with you the other it it's a cool feature it looks amazing on people but it just doesn't seem to be picked up and people I don't believe anyway I don't believe people are actually using it and in theories is is fantastic no promise bye thanks for dropping by and in theory is a great feature okay in a dumb system to waste huge amounts of energy I prefer work all over the world so that I'm partner must be changes aim well I mean I've seen some as far as proof of what being wasteful I've seen I've seen some articles saying that the majority of Bitcoin mainly farms which stole you know take up the majority of mining throughout the world many of them know are being set up and equal friendly environments such as geothermal or doing it next to power stations because in power stations you've got a lot of energy that it simply can't be utilized or it can't be put into the grid after there's excess electricity or excess permeate and they can put it into these mining farms instead and so in theory that you know that power will be lost the enemy but certainly from our home mining point of view and from smaller operations yeah it it's maybe not environmentally friendly the memory and fpg mean is lacking so the old decent coins and algorithms are incapable what do you mean by that make our garage aim the memory and they've an FPGA machines is locking as in the FPGA machines are they don't come with enough from my reading that right yeah I would agree that SMS could prove to be very popular in South America and Africa even parts of Asia yeah I mean I've not looked an e-cig Maynard value for a long time I don't know if there's any that's even remotely and even remotely profitable I highly doubt it highly data NSE has control over back Queen know what what are you talking about you are you certainly a smoking a doobie and the problematic and prefer walk another proof of the developers acquire bike thinking they are how to make it energy efficient without losing security yeah and it's near impossible in the Vega the vigor name a main nanometer best be trippin seeds will be get fifty five mega some say 100 I saw someone in the discord for see if coins in it could be like 120 for the new would you call it rowdy in 7m yeah 120 mega houses would be very very impressive BET's be trappin has been too big on GPU meaning yeah he's always had a really big season as he dinner a transition into FPGAs or something else no problem buddy Friendster thanks for John by a do appreciate ur I think a B BT pretty smart and best be trappin and shut down his farm can't verify though it actually comes a point where you're actually dad she'll be silly to keep your farm going you substances that NEC has an infected back coin input tracking software on every Bitcoin isawesome I love you explain how that would actually work and atomic swaps is more thrown around as a buzzword or tech box to make projects men right now I think and you I do them often as a developer so what coins would you do that with well what coins do you say in money between because obviously there's only some projects that a supporter BBT says farmers like 2500 GPUs Wow 17,000 dollars a month for LIC waiting for Upton I mean it's one of those things you're almost I'm almost jealous that it has a farm that bag by the same time I feel sorry from the endless climate and this claim it has got 2,500 GPUs I've got one GPU to sale and I'm sure I'll be able to see a lot if I can't sell I'll just use it my main pc but 2500 I mean I saw 20 eat and I thought I was I thought it was hard selling 28 GPUs and I've still got motherboards and power supplies and all these other things that need to sell and fade away every I've got I've got USB em I've got the adapters I got everything just sitting there gathering dust and yeah that's a full-time job though that's a full-time job but you get two thousand five dozen fire that's not just a full-time job for one person that's a whole company heat air it was good to see you your mansions are burning yeah we were talking about them I think it Wendell are screwed bike I was talking about your video or share the above I think you can see in the common area and see you go back refresh refresh Devin go okay I'm just I was just kidding if I do go up there they show you so that's this is the video that shield me I was sharing last one you're selling off the AP saying of it because north shared it with me today but was at the gym so I couldn't listen to it and I was saying that you've probably made the right decision because here in the UK I was paying like eighteen nineteen cents you hear it's a you know equivalent for America and damn you look good you do me and I was paying about eighteen nineteen cents which is actually one of the better rates and Yuki for a homeowner and so buyable August I was breaking even with the GP remaining as an maybe making a dollar or two from Theory GPUs so I was at the point to sale and then going into the end of August September I was at the point where I was actually losing money and I had to sweat 200 francs but obviously GPU profits have been down and down and down so you're prolly at the point that I was about five or six months ago and no I time it no problem and hopefully gonna be doing atomic swaps between gun something a tell across my analogy was walking for an hour east for $100 or walking in our waste for $20,000 yeah well I came to talk to but I see earlier actually this was there this was the thing that I had as well we are I we're not gonna making $100 a day from all my GPUs I could justify spending up here as tweaking things maintaining the rag cleaning them all often doing all that when you're making $1 a day you just can't justify and it's timeless better spent on whatever your businesses or maybe YouTube or maybe something else and it comes very very hard to justify it when you're not making those profits and there's a lot of people at the time you know alloyed people disagreed we were talking about that's actually earlier on and there's a lot of people disagreed with with me switching off my rags bar thing was the best thing I thought I said that truly and I think there was all people who said why don't you just switch off your rags but if anyone who you know when the Yukie switched off the regs in September they'd still be sitting waiting to tone the legs back on and with new GPU is coming out and all that you know that the your investment just goes down and down and down in place and I will gather a proper show OTT Nichols and I've posted a link for technicals channel check out one of the best capital channels out there give them some love and I need watched out for the only and I'm curious as to what you actually said no because I didn't see Ellie I don't think my earphones I'm no because they play the music to light and right I've got comments here to catch up on sorry guys I'm slow slower the comments not just slow in the brain right and hopefully they'll be doing atomic swaps between Gran something quite soon that's cool I do as I say that I do like the idea of atomic swaps I do like the idea of atomic swaps and I just I've never had any practical reason to actually use them captain happy I never made money back from reg place I joined then just too late to benefit the best time but really happy I joined us this is a good learning about crypto in the market on Talia when did you when did you start your GPU rank then happy that's that's the way I look at it you know that's the way they look at 2018 no aim and that for the first for a year I was meaning I love that but looking back you can see I lost a little bit of money but it's probably the best introductions you'll get to kept the consi as far as learning how pills work learning how you know what developers have to deal with learning how the blockchain rocks and all that it does give you a really good understanding of oh oh it's summer – I mind all the way through the summer and then stopped when it's called in runner psy is meaning very booked some pip coins of dropped out from the market put coins and it did I need to start using that yeah so I'm just a tentacles were saying it right here UK if it wasn't I mean it was a time spent researching what two main new projects news updates etc I think him I guess we've got more of a reason for for doing that than other people because we both get YouTube channels and we both focus on crypto so against we can justify his painting team say well that's his research and its content you know it's news for everyone else but I'll all the time I was doing that I was searching for new coins I actually got harder and harder to find good projects that's the thing that started pissing me off you got it back coin talk and I've complained about this recently but you want it back coin talk and the coin the coin hasn't even one block one year and they've secured a lasting on Capitol Bridge it's like why the hell you even bother number exchanges yet secure your project get your wallets working get all that sorted first and and there was just those just a growth and pumping dumped coins and all that and they were getting more popular and it was getting really hard to not only feign good projects but when you don't find a good project you maybe even passed by it because it was hard to tell the good guys from the bad guys and but I still love crypto I'm stole here we both are when everyone else who's watching as to can't wait I can't wait for the bill ride we'll go back to the craziness and talk about it there's beer run as the good old times captain harpy said this probably 95% pip coins in the market I'm going to start I'm going to start adopting not happy and start using pip coins 5% have something decent going on and among that 5% not just a few you awareness maybe a couple of dozen it's really hard to argue with that as it's hard to argue that I would say that that's a really good so many actually because there are some projects that maybe it won't last but the venture just some cool features sort of you know maybe got some cool ideas but maybe they won't implement them what I think I raised me is it there's been a few projects we are there just abandon the project altogether the real heart they weren't attacked you doesn't see the price factory they just abandon the project they just decided to do something else and that's all about disappointing specially if you've spent a lot of time man in the corner buying the coin no let's say I remember a few years ago in the new Krispy Kreme shop opened up here the require few people queuing for three or four levels I can't understand that people traveling three four hours for a donor as insane people that died here Israel they travel up the Edinburgh for a donor the people who don't bail the time I envy you I wish I was gonna live forever well it sounds like a it sounds like you kind of views you view your time kena some of it to me because I mean I work on Anthony and when I'm not working my own website so some things do freelance work for other people so gonna get time or do freelance work for other people and when you're charging and O'Leary you're you're thinking like that's all the time you're like well I could do that but I will make more money just by you know doing work for the client so you start thinking well this actually cost me money by doing this and and I was starting to think that when it you know when I was only bacon even with the GPU meaning I started to think that Nalla sees a GP remaining is very much something for people that like passing about with things financially be better off doing something else see only at this point I mean I think of where that I build on we may see maybe a little bit of a comeback with GP remaining but it may not be the same anymore because some of them because so many projects don't have GPA meaning algorithms maybe the world I would adopt he'd and he sick many an algorithm or whatever but I saw someone else post about that story I don't know if you guys agree with us but they said about FPGA is and they said that FPGA is are the same as Asics and so much and so much as GP remaining the whole the whole prints of I never one doing GP remaining was that everyone had a graphics card on the PC enemy or on the laptop so allowed everyone to do it came to the same idea as CP remaining and you know when you move towards FPGA is when you move towards Asics it's a very exclusive thing it doesn't include everyone and it kind of goes against the whole reason you know the maining started in the first place maybe that's what these you know maybe with the increase of FPGAs and Asics maybe this is why some projects will do proof of stake simply to involve more people I mean you get more people involved in the project you get more people in discord you get more people on social media telegram the lot camping in front of base buying Black Friday yeah I don't understand that either I'm ever about bar talking about that and he sees that I'd rather go back the next day or go back a week layer and just pay a hundred dollars extra and I look at gentleman and not an animal I'd have to agree with that and I look at it's just a hobby I could understand that hobby if you've got like one or two GPUs and because when I said if you go back to my videos when I talked about selling my GPUs of it I've got to laugh one of my main pc ever one setting up box just no but i say that could understand someone having up to one drug as a whole baby anything other than that you should be looking at it like a business aim and people were saying you're stupid sale and your stupid selling and at the very end they said well I've only got one ten fifty tima PC and my PC I've only got one basic card and you're like so why he'd argue with me here you know forget the GPU is here that I'm trying to get rid of captain happy boy his very first GPU for the strike in November of December 2017 I was exact same as you December 2013 I was mailing before my laptop and stuff but December 2017 when I bought my first a when I bought my first reg and but then the real card started coming from January we obey the same time score each lover pill accent Scotland this isn't a scouser accent no that would be a bad thing I've always got on with people from Liverpool always met of me a lot you're really nice people still not been Tillich who actually I really want to go there's been like two monthly a two or three a friends I went to Liverpool for stag dues and I've always I was in South America it's a man I messed them all and [Applause] yeah I don't know why I must have got a jump I must have got blasted in the YouTube homepage it does that sporadically when you get lusty Don the home page of YouTube and you get a lot of and you got a lot of views em it's weird thanks rawness right okay where am I here in the comments I didn't find any meters comment men do beggar wants the mean prom here worried about a smoke carry walk before the bill and any approach abandoned project examples aim well the example was thinking about when I'm going out ran yeah hey Dave works the example I was thinking about was a vehicle coin so I did a video about vehicle coin and they'd say the burden of you and I kept saying like so when are we doing that son of you take a base like pardon me all from like Lawson I'm not gonna beg for that have you users with the guys that wanted done of you and I had about seven half thousand coins I've still got them and a wallet somewhere and basically I knew something was wrong when the CEO of the project contacted me it told me he was a marketing manager for another coin and he asked me to cover the other coin I'm like what do you mean you you're the market manager you're the CEO a vertical coin and it turns out with five or six developers though the guys just stopped hanging around discord to just stop responding and they just abandoned and someone wanted the guys left just said I'm sorry I've tried to contact them but no one's responding so the projects did so it was like five or six people and then just oh they don't even speak to each other and they just abandon the project but that does that hasn't unique you know I've seen other people talk about this with other projects I've seen other examples on back coin talk as well capital gains alone was more than sixty things my remaining for eighteen months without the detailed math Wow how big was your sale obtained across her back was your whole GPU maining reg syrup remember k walk yeah and I have no doubt that captain will be go up again later it's sort of up and down thing yeah I think you've all go up I mean that I'm sure everyone here is bullish in that regard and believes that crypto CST and that's not something I'm bothered by and I'm honestly not bothered about setting on the coins for years either it really doesn't bother me I'm still when chasing kept or I'm Stoll keenon you know the whole the whole thing I stopped believing oh and technical is 110 GPUs sex a 6-2 FPGAs hey wow so your sailors like four times the size of Maine at 30 GPUs you 110 sexy six Wow real big advancement that's huge that's really huge it's one of those things it's fantastic and a bill run the money you'll be making in the the coins you can make from that and then when you know Yenter that's possession know you need to see law office for me was it wasn't just selling off was the financial point of it was that the time the time to actually sell it the time to actually physically wrap up boxes there was what there was a couple of days where I spent days wrapping up box he's and take him to the post office I was a couple of days I couldn't work thanks rawness I'm not sure if you stole Cena subjects in your comment who work isn't too bad Hughes on campus a rule was for seven days yeah he kills yes YouTube does have a delightful selection of the human race Aziz gets seven GPUs so very small but looking to get some more right now you still running our profit he still running our profit or see you're getting really cheap a electricity rates no this was a string Liverpool yeah I'd like to go down that's a youtuber who's got a similar kind of take channel to me I'm doing is an excuse to get don't see him but he's like he's got to take channel down lava pill could always good how about dinner or lunch we're having to speak to him catch up with him but I've always I have always wanted go down captain have it's good to have always one bike running then you can get rewards off enough to make any sense imagine running some ten mega hash cardona tedium and keep every day close eye on it the last thing out a kind of main directively one main sequin top I mean a feeling my law in August and by the time I win touch the car show it dropped by about half because I wasn't casting out quick enough developerworks vertical coin a specialized I'm picking up all the Bandung coins someone in the community dev works someone in the community was trying to keep the project going so it may style it may stop with you and that's that there is an active community neither one see that they actually here's the know anything right I'll tell you what happened with if someone can correct me on this if I'm wrong but basically then one of the biggest selling points of that vertical coin project was that they had does new algorithm add the chicken lighter to Zed and to other kind of like a fashion algorithms some are algorithms ones that don't make your GPUs run crazy and they were going to you know run between the three different algorithms so it was safer of Sakura and it was you know it was a a fashion so they done implemented that's was their new unique algorithm it was the main selling point of their coin that's was the selling point of the coin very cool coin was we've got this new algorithm it's going to spend between these three different algorithms so but what did they do first where they got less they don't kept abreast they got lasted on another exchange when you went to go on implementers apparently I'm again I'm paraphrasing bodices a problem at fuqua seven and the discord when they went to capital price they said no no no no you can't you can't change you know that's what your last thing this gives us too much work in the background and anyway okay well we can't do it then and they just dropped the whole purpose of their project everything that was in the white paper on the website because the velocity on a Shia exchange like capital bridge really really annoyed and twelve nodes to trading bots for a month base week was four thousand dollars a week Wow that's a hell of a lawyer meaning I can only imagine what your electricity bail was like selling stuff was a major Bali agreed the real point I wanted to make was the time it was taking I bow my time every very high to keep myself working yeah and that that's what I people forget and it can be time-consuming and I find as well see when I went down to one rank I don't know if it's just because I was on highways and I had tweaked to over a few months but maintaining one rag was super easy I found maintaining one GPU rank to be very very easy but I found that when I had to three in full rags there was always one rank there was government problems nother ones with run rail and then it affects reg 3 I get all running in a weekly a wreck for something with happened something you know that it would be a riser or a place or the card the fan wasn't running clearly so you had to start up and then fax all that but I had one rag it seems to be working okay I don't know if I was just unlucky but yeah it was kind of a annoying capillary welcome to the stream bro him and invested $1,600 went back coin is $18,000 I have only 100 for $150 know what to do I mean you really I hope you I hope you then invest money that you couldn't afford to lose there's not much you can do right now San hold the money telecourse has got a lot of GPUs to sail if anyone was to buy he sees $100 Lamborghinis he a lot of gas I mean ramen noodles a right adjusted rate was $6 sex since point zero six US dollars that's not to buy the I am that's not too bad any electricity I know you can get cheaper in some parts of America some people had like two and three but sex sense is definitely cheaper side the guy in charge of the farm salad is too much there does are a full-time jobs all running the amount of GPUs captain happy a long term Mainers who are not downsizing back team they have to be holding their coins but then again the must have running costs very low yeah yeah I was thinking with that and it's interesting no because I thanked him I think you know the way that the market as I know that after you got a new project would it make any sense to go with a proof-of-work algorithm or would you go for proof of stake or would you do you know I think there's a a good argument for doing cpu meaning if you could do an algorithm that could only be made through a CPU I thinking about good argument for that over GPU is it that's point or even you know over a six or what other just as far as getting people interested in your project maybe have a percentage of it proof is take a percentage of it through CPU mean I was he brought me they have a video about a meaning on and off depending on difficulty depths on eat different coins ball innate get forty forty cents per kilowatt for solar by Connecticut style not 100% profitable but very close I was Tracy if you the video they'll about that after you believe the market is gonna go back up is be able to just buy capital F naught then what the is the point of mating anyway supporting the network yeah yeah we'd lost discussions about that's even I think at one point a live stream I had a piece of people writing up the basic maths and explaining to people that you could get more coins and but if you're kind of in the middle in your remaining spatial of coins I can't see if you're not as long as you're not losing too much I can see the appeal of just kind of meaning at the break-even point high exhale welcome to the stream all the way from Phoenix Arizona am I getting my geography right yeah we are someone like me someone someone is waiting me we get Bunter cusp its various coin oh the same guys from Komodo is that right there was another CPU coin as well I think the safe trade actually I did a few of them recently a Dave works I'm working as a classic and plain coin right now both are banded at some point so you're on the mate whoa I'm so that said classic is the mean when I said that's that's the main project now that looks after because I know it was kind of jumping between different owners the problem the problem is a classic door has that has been used you know for pumping and dumping so much over the last year it's hard to it's hard to support it plain coin I remember that is where I cover that at one point try remember ultimate budget meaning reg main profitability I couldn't see that and do you think utopia will return our coins and critically I was attacked right so for the benefit of those asking and could topia was attacked apparently happened two days ago and you'll see a lot of you'll see a lot of articles about online talking about it no that's that's articles actually a lot but didn't know because the least is that they believe there's about thirteen million dollars stolen it could actually definitely could be more and if you scroll back in the comments and in fact I'll push this again I'll push what I got here again so I'm gonna post the clue topia losses and then I'm not don't think that's his Gospel don't think that's his gospel though that's just what was sent to me and but you're talking about you're talking about thirteen million dollars on something as far as getting your money back you know as to Le Toux see at this point I'm not sure if Catawba has got that money sent around him it's bad news it's bad news I mean I was never a fan of the Crito pit exchange but it's not something a realist and I hope they can work that out and technicals need a registry for new coins if you launch a coin you provide personal data to third party who gives to the constables if you accept if you provide you get this stamp of approval not a good idea for the exchanges as well I mean I think most exchanges should be transparent about who they are they should be public this should be a registered company as well this is one of the problems I have with Bitcoin talk that there's no validation and there's nothing stopping you know there's no stopping any coins lasting a pump and dump schemes some coins are so blatantly obvious that they're going to scam people as far as the way that I say a lot pre-selling masternodes beforehand and all that some of these coins are so blatant and yet you know the owners of Bitcoin talk don't do anything about it and it's difficult I think I'd really like to see that myself I'd like to see more transparent they'd like to see more you know more accountability I know I'm bright so this tour is maybe the only person left in crypto who uses it I see other you know which ones ranky no less the same brush English is Z Z naught Z M & Ammo Mex top though I'm told there's a couple of words I really do see the wrong way because I loved in New Zealand I loved in Australia I've spent over a year in Asia I loved in South America for a few years as well so you are constantly changing the way that you talk because you were talking to other people from different countries and all that so I've packed up a lot of bad habits I really have so as far as the British pronunciation goes I am not the person to hit tilaka do you know what happened with Beth Phoenix that they return customers 780 moment which was height and I think I covered that before aim I'm not sure I'm not sure if they dead and 2017 when I don't know much about kept her when I know about maybe Bitcoin a theme like coin or Monaro maybe two and let's kept amar college but beggar to me yeah whoa you know obviously I think went back coin is up it probably brought a lot of people hadn't but yeah that the mark I would like to thank the markets Pagano and there was a project started reading there was attempting to vet new coins I think the real world going away from the vase for the developers I remember reading about that one point I can to me about everything about it but um yeah I remember reading right at one point Teleco say that no and fake accounts on back wing talk are $100 for 20 so proper accounts with posters 3 yeah and I mean the scheme that goes back to you know alloy the decisions I made last year was about I made a decision what may be the last journal July that I doesn't want to cover any projects that weren't transparent so projects that don't have you know team members that were putting a picture the Langton picked those people that doesn't want to come on in my channel and and doing any of you I made the decision not to cover those and that got me alloy grief although people don't agree with our and peel you covered Bitcoin but I don't like projects in here we've got a nuke I mean tentacles you play this theme you know you'll get approached by a lot of people can you cover your coin and and it's one of those things what you want to cover the good projects but you know you try to gather everyone a firecracker the web by the way that they were the contact you in say you've got your YouTube channel love your channel despite not knowing anything about it and and you see we want to come out you would love you covered our channel we love to cover capital concert project sorry and I say fantastic come on on we'll talk about it and they're like oh no no no no we're hadn't we don't want anyone to know whether identity I'm like okay so you want people to main your coin you want people to buy your coin you want people to invest and it your project and you're not willing to go on I'm not saying that everyone should be comfortable value but the very issues you come on and talk about it you should at least put your your identity out there and this is you know this is why I mean I think we need this because it's so many people were exiting I think we need more teams are public and I'm always more supportive of projects with a personal reputation to put in there no guys say the lives at risk but they're putting the reputation on the line and international English yes I have international English that's I'm going to start using that noun or less even something like scam coin when we need to get wealthy off your backs we probably a fanboys to the defender no doubt read in and reef coin a prolly connected and I remember reef coin remember that I was old I was a master at coin reservoir 8.3 Bitcoin angka topia I'm sorry I'm sorry hear that hopefully they get our back mate hopefully you get that back and realize that they do have a mountain a mountain to claim here I'm not sure if they'll be able to do that unless the sale part of the company or they get investors or something I don't know hopefully they can but they've also got the New Zealand Police Department of garlic a cyber claims diversion investigating at all is well so hopefully you know they maybe maybe we'll get that you don't know maybe they will get some of the money back or most of it after pay to commute the KMD Network another with a similar name try to establish itself with no wait people soon after that's another thing is where what you know alloy coins come out and they said all the way people's coming soon and you're like well why have you launched once when you've got everything ready no let's it if it was a youtuber it agreed to any coin providing they paid me up for then I do the video in trash I've got myself an alloy trouble by doing that I have I have I got ddosed for doing that not on YouTube for my website I reviewed a Russian script an application for a website and it was like 30 40 % of my way into the viewing and I realized this thing is absolute garbage and I gave an absolute terrible review and they actually said to me like just take the review dying late you can keep the money I was up no it's terrible I can't have anyone you know buying that and they attacked me so long it typed me for so long because I wouldn't take it down I stand by I stand by that review and and testing part is reef coin is still running around lots of master was online even if there's no volume in exchange and Glenn goes live now so what was was Glenn is this a new kinda dev let's one saying some people sing to topia that itself scam not Hayek was the xyx camp and an exit scam as we're an exchange while trying poetry itself as effort has been attacked and what they've done is you know steal the money themselves effectively that's you know people run away the the people who run it run away with the money I don't think that's what's going on here sailing not because it's a registered company these people go to conferences they've got a lot of stuff and you know the more stuff you've got the more – you've got talking because they've reported well they say they reported it to the police and III don't think that's the case maybe maybe I'll be wrong maybe I'll be wrong but I think I don't think to be any reason for an exchange such as growtopia to do an exit scam for 30 million dollars because they could sell the company from more than that I believe so I don't believe that's the case I don't believe so and there may be some coins sort of hibernated nobody really knows if those diverse was come back to FLIR there's been a couple of coins a DA would abandon a few years ago and then people pick them up later on because they know the those people what those coins and play vis the coin based on remember when Bo gran never health so this is a blind new coin no problem res one over the base to Pakistan hopefully hopefully you get your money hopefully you get your money and it's a bad situation and sometimes some things like you know as especially from my end sometimes you're focused on reporting the news and you're talking about the hack and you forget there's people at other others say that yourself have lost money through this and and you know a lot of you are talking about it but people are losing money in some things it's money they can't afford to lose so hopefully you get most of it back and it's never good when you hear people losing money but I'm not I'm not sure what they're going to do I really genuinely don't know you know what the plans are how they went to tackle it so I'm going to tie up the stream in about maybe 15-20 minutes or so you might check out good or check out on fact what I was gonna do what I want you to quickly do and before I do that alright okay so let's see yeah and what what do you do Oh check out grandma second I wanted to quickly look at a sick man of value just out of curiosity you know the bomb it's got 13 cents per kilowatt-hour let's look at what it'd be be a few pence um you keep raises and then people will ask why you're not meaning so basically some of this I would have to is that's not the spondylus is that another one that's like thousands of dollars like tens of thousands of dollars yeah that's things expensive to buy those things very expensive to buy em yeah the it's just not what that it's just not worth it and even if you go buy like there's eight nines are doing a $1 forty Athena's days eight nine not the same name many there's a delay money's probably run at a loss yeah there's eight a man is no running outlaw say no one in the UK would be running at a loss running there's eight nine money and that is a lane is you pull a month or so before it becomes a doorstop and yeah meaning meaning as a whole isn't very good I would say right now okay over here right so before I tell you but when I look at Glenn a few people mint you there the Dave rocks knowledge say there's a little hyper mat so let's check it out that's as the website I will post it here so this is it here meet Glenn it looks like Watchmen dot electronic transactions for all without censorship or restrictions private scalable so it's based on member wemble open so we're currently how that work stabilizing gladden foot on minute release around 1550 annually ie today so they've got the right paper let's smell they've got wait people that's good that's a start that's more than what a lot of people have got so as the decided to go down there that takes Pedro I'm gonna have to put this up just so we can read um right let's see if I can summarize us corn for dental transactions that's just like that's just like reading a website from 1994 the really neat is like less than a word document on a PDF merging transactions across dreams ask men I woke up sweating bettin fighters okay what here are some questions I cannot answer at the time of this rating that's about at ease you're teasing me and I had anticipated and it's quite hard to a square a small document you actually see I'll leave a link to its member one bull here and can someone summarize that for me I don't know what's going on there confidential transactions and yeah so seems to get a lot of hype work was say can someone summarize this as far as what's the algorithm as the we and grand name W and true right that's is that that sees that that's is that sees what we're talking about this is much better and remember one bull or less is member one balloon right privacy by default right so forever I doesn't know what that means that's like an echo hash coins there are state transactions but you need to kind of optin rather than octo that's one it's privacy by default like I guess like no my NATO or something without something else like that skills mostly with the number of users and mentally with the number of transactions strong and proven cryptography tiny bits overlap to close and right so this is it the explanation transaction transacting with member wemble possession of private keys it's creating a collage to that I'm surprised they don't link to that for the rape you order them and see original weight people as a belay through this ramble one ball transaction quiz the following a set of inputs and I see a person clue an explicit transaction fee right I'm Bradley boring myself trying to forget that so it's quite a technical thing you're even alive she aim it's based on member wendel community fronting so why is it from a Manning point of view I'll check over the next few days it sounds like there's a white people talking about up the thing is over the name is that's the best thing about it yeah you can hack you can hike takes but and yeah so aim I'm going to start tithing up the stream guys thanks for watching I do appreciate it the first half of the stream was focused mostly on safety safe trade attack and dictatorial attack and there the good news about the safe trade situation as that everyone is getting on money back they made the official announcement today that to wait three days because he wanted to secure the funding so a the exchange is actually going to be much more secure because of that but on the same day that make that announcement we find out the key topia has been hacked as well so that's not good and you know we saw that with res man in and the common area there I've never been a big fan of the Katori exchange but you need to remember even if you don't like the exchange there's a lot of good people that have lost money in this situation so hopefully they have a good resolution to this and hopefully everyone can get on money bike and there's a lot of exchanges been attacked to the moment and yeah it's not good to see it's not good to see anyone losing money even if it's you know their own wallet or an exchange or whatever so hopefully they can figure it out and thanks their own for dropping by guys I really appreciate ER and lesbian market is a good thing it drops many shucks coins at the market I would agree with our bill also oh I would say that we're gonna have more when you know to build on you just get more to come back anyway I don't know was it broken tech GPU with sex caring minimum better on a Vidya BMD can do it you talk about for mining for GPU meaning and Granick saves to prefer box Orissa krzyston is they tend to be main buy GPUs it remained using a sex alright okay thanks for clarifying do you remain using a sex gigabyte graphics card so that would make a most are teeny in above teens sixties I don't know 10 sexy so sexy egg abate Israel 1066 KB right I don't need to check out anymore only to check out anymore and so thanks again thanks again a flavonoid or bye thanks for everyone who's commented and liked the video and all that Israel and for subscribing and keep tabs on what's happening with topia and even if you've not get any money on crypto pure or save trade or anyone else just keep an eye on what's happening with exchanges don't take any risks if you're gonna deposit any money to an exchange deposit your money trade your coin and then withdraw get your money there there is absolutely no reason to keep any significant amount of money on an exchange and unless you're doing trading all the time and even then you shouldn't keep all your money they are just operate under the assumption that any money on the exchange could be stolen and I know that's a bad way of acara but just be careful don't keep money there that you can't afford to lose and but you know it's gonna happen it you know it's a shame what's happening with exchanges been attacked but try and minimize losses but IV can't so thanks for thanks for dropping by guys already appreciate it's been fun catching up with you guys I've know I've not been able to do a livestream in the last week or two so it's been good to hopefully try and do one at the end of the week and I've got what call in the next few days unfortunately I need to make the cash need to make the cash I'm actually I'm gonna try and save up a few thousand dollars and get better equipment I'm gonna get a better camera for swimming and thanks guys please do stay in touch I do appreciate all the love and and so again two technicals for dropping by I'll post this of course this YouTube channel show him some love as we always get a little good YouTube channel and he seems to be selling off his GP us but he's focusing more on FBG is and that's doesn't something I'm focusing on so if you want to learn more about FP geez do show him some love drop by and check out his videos but thanks again everyone I will speak to y'all very soon and I'll probably talk more about what's happening with safe trade and the next week up – I'd like to do a video interview or a livestream with Jeff and get to the bottom of her you know what happened I think of a good to hear her side of things once everything is out in the open and again the point where I just know there's certain things that a team can't reveal because of security reasons and different reasons and but all that's what will come out in the open and the future a Dave rock scene follow gun and a developer and the get on Dave chat right now to see developers bringing up me Nate live currently generating Genesis block and tracing stuff thanks for that and thanks thanks for a you know following this team again Dave hopefully the way there's a little bit nicer they are over in Spain hey guys Oh from et me Gary snack I'll catch y'all later on and peace love and all that as well stay safe in capital guys Cheers

2 thoughts on “Crypto Exchange Attacks – SafeTrade & Cryptopia”

  1. Hi Kev, the notification for the stream didn't come through, so I missed it live.

    I'm apart of the team over at Ether-1 so I can offer some information on what happened with the attack:

    Basically, after the ETC attack, the team were suspecting that an attack on the network was more likely, and we implemented warning systems to alert the team of suspicious network activity. A couple days later we noticed attempts to sync a longer privately mined parallel chain. As a result of this, we contacted exchanges and significantly increases network confirmations causing the attack to fail. After this initial attempt, there were a couple more attempted attacks on the chain, so exchange confirmations were further increased causing these further attempts to also fail. After the network was back to normal and mining pools were restored, as a precautionary measure the team decided to request exchanges to close wallets, time work on a security hard fork occurs.

    So basically the current information is, as far as we are aware no coins were lost and exchanges are closed until a security hard fork takes place. I can't go into details on the fork itself for security purposes, but the team is hard at work getting the fork implemented as fast as possible.

    I agree with what you said at the start of the video, its very interesting being on the opposite side of an attack. I'm very impressed with how everyone over at Ether-1, the team and the community responded to the attempted attack, I believe in the long run that the project will be stronger for it, and i'm sure the same is true for safecoin.

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